Simpson Manufacturing (SSD) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-13429
Entity Registrant Name	SIMPSON MANUFACTURING CO INC /CA/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3196943
Entity Address, Address	5956 W. Las Positas Blvd.
Entity Address, City or Town	Pleasanton
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94588
City Area Code	925
Local Phone Number	560-9000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SSD
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		44,327,218
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Central Index Key	0000920371
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Current assets
Cash and cash equivalents	$ 194,061	$ 160,180	$ 166,961
Trade accounts receivable, net	180,898	146,052	192,981
Inventories	242,730	276,088	279,503
Assets held-for-sale	0	0	9,251
Other current assets	17,565	17,209	12,220
Total current assets	635,254	599,529	660,916
Property, plant and equipment, net	250,950	254,597	257,679
Operating lease right-of-use assets	34,463
Goodwill	131,191	130,250	136,459
Equity investment	2,485	2,487	2,498
Intangible assets, net	21,816	24,402	25,457
Other noncurrent assets	10,149	10,398	11,604
Total Assets	1,086,308	1,021,663	1,094,613
Current liabilities
Trade accounts payable	40,861	34,361	42,734
Accrued liabilities and other current liabilities	125,006	117,219	124,717
Total current liabilities	165,867	151,580	167,451
Operating lease liabilities	27,256
Deferred income tax and other long-term liabilities	16,238	14,569	13,743
Total liabilities	209,361	166,149	181,194
Commitments and contingencies (see Note 12)
Stockholders’ equity
Common stock, at par value	446	453	462
Additional paid-in capital	278,898	276,504	274,126
Retained Earnings	649,053	628,207	686,351
Treasury stock	(21,437)	(25,000)	(24,491)
Accumulated other comprehensive loss	(30,013)	(24,650)	(23,029)
Total stockholders’ equity	876,947	855,514	913,419
Total liabilities and stockholders’ equity	$ 1,086,308	$ 1,021,663	$ 1,094,613

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 309,932	$ 284,178	$ 874,029	$ 836,964
Cost of sales	172,288	150,282	491,952	454,881
Gross profit	137,644	133,896	382,077	382,083
Operating expenses:
Research and development and other engineering	11,972	10,441	35,287	32,840
Selling	27,672	26,879	84,471	83,653
General and administrative	37,047	37,358	117,941	113,565
Total operating expenses	76,691	74,678	237,699	230,058
Net gain on disposal of assets	(14)	(460)	(265)	(1,769)
Income from operations	60,967	59,678	144,643	153,794
Interest income (expense), net and other	(1,778)	1,156	(2,394)	284
Income before taxes	59,189	60,834	142,249	154,078
Provision for income taxes	15,503	16,473	36,324	40,202
Net income	43,686	44,361	105,925	113,876
Translation adjustment	(5,797)	2,950	(5,825)	10,533
Unamortized pension adjustments	(362)	0	(462)	0
Comprehensive net income	$ 49,121	$ 41,411	$ 111,288	$ 103,343
Earnings per common share:
Basic	$ 0.98	$ 0.96	$ 2.37	$ 2.46
Diluted	$ 0.97	$ 0.95	$ 2.35	$ 2.43
Number of shares outstanding
Basic	44,477	46,192	44,673	46,375
Diluted	44,814	46,622	44,995	46,770
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.22	$ 0.68	$ 0.65

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at Dec. 31, 2017	$ 884,778	$ 473	$ 260,157	$ 676,644	$ (12,496)	$ (40,000)
Balance (in shares) at Dec. 31, 2017		46,745
Increase (Decrease) in Stockholders' Equity
Net income	113,876			113,876
Translation adjustment, net of tax	(10,533)				(10,533)
Options exercised	695	$ 0	695
Options exercised (in shares)		23
Stock-based compensation	7,939		7,939
Shares issued from release of Restricted Stock Units	(5,128)	$ 2	(5,130)
Shares issued from release of Restricted Stock Units (in shares)		177
Repurchase of common stock	(49,490)		10,000			(59,490)
Repurchase of common stock (in shares)		(985)
Retirement of common stock	0	$ (13)		(74,986)		74,999
Cash dividends declared on common stock	(29,974)			(29,974)
Common stock issued	465		465
Common stock issued (in shares)		8
Balance at Sep. 30, 2018	913,419	$ 462	274,126	686,351	(23,029)	(24,491)
Balance (in shares) at Sep. 30, 2018		45,968
Balance at Dec. 31, 2017	884,778	$ 473	260,157	676,644	(12,496)	(40,000)
Balance (in shares) at Dec. 31, 2017		46,745
Increase (Decrease) in Stockholders' Equity
Net income	12,757			12,757
Translation adjustment, net of tax	(2,378)				(2,378)
Pension adjustment, net of tax	376				376
Stock-based compensation	2,395		2,395
Adoption of new accounting standards				(381)	381
Shares issued from release of Restricted Stock Units	(17)	$ 0	(17)
Shares issued from release of Restricted Stock Units (in shares)		0
Repurchase of common stock	(61,050)		0			(61,050)
Repurchase of common stock (in shares)		(970)
Retirement of common stock	0	$ (9)		(60,532)		60,541
Cash dividends declared on common stock	(9,988)			(9,988)
Balance at Dec. 31, 2018	855,514	$ 453	276,504	628,207	(24,650)	(25,000)
Balance (in shares) at Dec. 31, 2018		44,998
Increase (Decrease) in Stockholders' Equity
Net income	105,925			105,925
Translation adjustment, net of tax	5,825				(5,825)
Pension adjustment, net of tax	462				462
Stock-based compensation	8,007		8,007
Shares issued from release of Restricted Stock Units	(5,903)	$ 2	(5,905)
Shares issued from release of Restricted Stock Units (in shares)		178
Repurchase of common stock	(51,437)		0			(51,437)
Repurchase of common stock (in shares)		(854)
Retirement of common stock	0	$ (9)		(54,991)		55,000
Cash dividends declared on common stock	(30,088)			(30,088)
Common stock issued	292		292
Common stock issued (in shares)		5
Balance at Sep. 30, 2019	$ 876,947	$ 446	$ 278,898	$ 649,053	$ (30,013)	$ (21,437)
Balance (in shares) at Sep. 30, 2019		44,327

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.68	$ 0.65
Common stock issued per share for stock bonus (in USD per share)	$ 54.31	$ 57.41

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Net income	$ 105,925	$ 113,876
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of assets and other	(263)	(1,716)
Depreciation and amortization	29,044	29,049
Noncash lease expense	5,278
Deferred income taxes and other long-term liabilities	2,262	2,061
Noncash compensation related to stock plans	8,699	8,773
Provision of doubtful accounts	435	361
Foreign exchange gain on capital repatriation	0	(1,604)
Changes in operating assets and liabilities, net of acquisitions:
Trade accounts receivable	(36,385)	(58,678)
Inventories	31,163	(29,233)
Trade accounts payable	8,130	14,254
Other current assets	(3,197)	5,099
Accrued liabilities and other current liabilities	3,452	26,356
Other noncurrent assets and liabilities	(5,308)	(629)
Net cash provided by operating activities	149,235	107,969
Cash flows from investing activities
Capital expenditures	(24,495)	(24,714)
Asset acquisitions, net of cash acquired	(3,529)	0
Proceeds from sale of property and equipment	2,498	3,539
Net cash used in investing activities	(25,526)	(21,175)
Cash flows from financing activities
Repurchase of common stock	(51,437)	(49,490)
Proceeds from line of credit	13,308	0
Repayments of line of credit and capital leases	(14,335)	(702)
Issuance of common stock for exercise of options	0	695
Dividends paid	(30,002)	(29,738)
Cash paid on behalf of employees for shares withheld	(5,905)	(5,128)
Net cash used in financing activities	(88,371)	(84,363)
Effect of exchange rate changes on cash and cash equivalents	(1,457)	(3,984)
Net increase (decrease) in cash and cash equivalents	33,881	(1,553)
Cash and cash equivalents at beginning of period	160,180	168,514
Cash and cash equivalents at end of period	194,061	166,961
Noncash activity during the period
Noncash capital expenditures	194	212
Dividends declared but not paid	10,162	10,134
Issuance of Company’s common stock for compensation	$ 292	$ 465

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of Simpson Manufacturing Co., Inc. and its subsidiaries (collectively, the “Company”). Investments in 50% or less owned entities are accounted for using either cost or the equity method. All significant intercompany transactions have been eliminated. Interim Reporting Period The accompanying unaudited quarterly condensed consolidated financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These interim statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the “2018 Form 10-K”). The unaudited quarterly condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to state fairly the financial information set forth therein in accordance with GAAP. Certain prior period amounts in the condensed consolidated financial statements and the accompanying notes have been reclassified to conform to the current period’s presentation. The year-end condensed consolidated balance sheet data provided herein were derived from audited financial statements included in the 2018 Form 10-K, but do not include all disclosures required by GAAP. The Company’s quarterly results fluctuate. As a result, the Company believes the results of operations for this interim period presented are not indicative of the results to be expected for any future periods. The Company changed its presentation of its Consolidated Statement of Earnings and Comprehensive Income to display non-operating activities, including foreign exchange gain (loss), and certain other income or expenses as a separate line item below income from operations. Foreign exchange gain (loss), and other was previously included in general and administrative expenses and in income from operations. The change did not affect income before taxes and net income as previously presented for the three months and nine months ended September 30, 2018 . Revenue Recognition Generally, the Company's revenue contract with a customer exists when the goods are shipped, services are rendered; and its related invoice is generated. The duration of the contract does not extend beyond the promised goods or services already transferred. The transaction price of each distinct promised product or service specified in the invoice is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer at a point in time. The Company’s shipping terms provide the primary indicator of the transfer of control. The Company's general shipping terms are F.O.B. shipping point, where title and risk and rewards of ownership transfer at the point when the products leave the Company's warehouse. The Company recognizes revenue based on the consideration specified in the invoice with a customer, excluding any sales incentives, discounts, and amounts collected on behalf of third parties (i.e., governmental tax authorities). Based on historical experience with the customer, the customer's purchasing pattern and its significant experience selling products, the Company concluded that a significant reversal in the cumulative amount of revenue recognized will not occur when the uncertainty (if any) is resolved (that is, when the total amount of purchases is known). Refer to Note 2 for additional information. Net Income Per Common Share The Company calculates net income per common share based on the weighted-average number of the Company's common stock outstanding during the period. Potentially dilutive securities are included in the diluted per-share calculations using the treasury stock method for all periods when the effect is dilutive. Accounting for Leases The Company has operating and finance leases for certain facilities, equipment, autos and data centers. As an accounting policy for short-term leases, the Company elected to not recognize the right-of-use asset and liability, if, at the commencement date, the lease (1) has a term of 12 months or less and (2) does not include renewal and purchase options that the Company is reasonably certain to exercise. Monthly payments on short-term leases are recognized on the straight-line basis over the full lease term. Accounting for Stock-Based Compensation The Company recognizes stock-based expense related to restricted stock unit awards on a straight-line basis, net of estimated forfeitures, over the requisite service period of the awards, which is generally a vesting term of four years. Stock-based expense related to performance share grants are measured based on the grant date fair value and expensed on a graded basis over the service periods of the awards, which is generally a performance period of three years. The assumptions used to calculate the fair value of options or restricted stock units are evaluated and revised, as necessary, to reflect market conditions and the Company's experience. Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified under a three-tier fair valuation hierarchy based on the observability of the inputs available in the market: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As of September 30, 2019 and 2018 , the Company’s investments included in cash equivalents consisted of only money market funds, which are the Company’s primary financial instruments and carried at cost, approximating fair value, based on Level 1 inputs. The balance of the Company’s primary financial instruments as of September 30, 2019 and 2018 was $0.1 million and $7.6 million , respectively. The carrying amounts of trade accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. The fair value of the Company’s contingent consideration related to acquisitions is classified as Level 3 within the fair value hierarchy as it is based on unobserved inputs such as management estimates and entity-specific assumptions and is evaluated on an ongoing basis. Income Taxes The Company uses an estimated annual tax rate to measure the tax benefit or tax expense recognized in each interim period. Acquisitions Under the business combinations topic ASC 805, the Company accounts for acquisitions as business combinations and ascribes acquisition-date fair values to the acquired assets and assumed liabilities. Provisional fair value measurements are made at the time of the acquisition. Adjustments to those measurements may be made in subsequent periods, up to one year from the acquisition date, as information necessary to complete the analysis is obtained. The fair value of intangible assets are generally based on Level 3 inputs. Accounting Standards - To Be Adopted In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments. ” ASU 2016-13 amendments provide guidance on accounting for current expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. The required measurement methodology is based on expected loss model that includes historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 eliminates the probable incurred loss recognition in current GAAP. ASU 2016-13 is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is evaluating the impact of the adoption of this new accounting guidance on its consolidated financial statements. Accounting Standards - Recently Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). The core requirement of ASU 2016-02 is to recognize assets and liabilities that arise from leases, including those leases classified as operating leases. The amendments require a lessee to recognize a liability to make lease payments (the lease liability) and a right-of-use asset ("ROU") representing its right to use the underlying asset for the lease term in the statement of financial position. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. On January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company elected and applied a few practical transition expedients including, not reassessing whether any expired or existing contracts are or contain leases; not reassessing the lease classification for any expired or existing leases and not reassessing initial direct costs for any existing leases. The Company has operating and finance leases for certain facilities, equipment, autos and data centers. The adoption of ASU 2016-02 resulted in the recognition of ROU assets and lease liabilities of approximately $34.3 million and $35.1 million , respectively on January 1, 2019. The adoption had no material impact on the condensed consolidated statement of operations or cash flows. See Note 10. All other issued and effective accounting standards during the third quarter of 2019

Revenue from Contract with Cust

Revenue from Contract with Customer Revenue from Contract with Customer	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenue from Contracts with Customers Disaggregated revenue The Company disaggregates net sales into the following major product groups as described in the footnote for segment information included in these interim financial statements under Note 13. Wood Construction Products Revenue . Wood construction products represented 84% and 85% of total net sales in the nine months ended September 30, 2019 and 2018 , respectively. Concrete Construction Products Revenue. Concrete construction products represented 16% and 15% of total net sales in the nine months ended September 30, 2019 and 2018 , respectively . Customer acceptance criteria. Generally, there are no customer acceptance criteria included in the Company's standard sales agreement with customers. When an arrangement with the customer does not meet the criteria to be accounted for as a revenue contract under the standard, the Company recognizes revenue in the amount of nonrefundable consideration received when the Company has transferred control of the goods or services and has stopped transferring (and has no obligation to transfer) additional goods or services. The Company offers certain customers discounts for paying invoices ahead of the due date, which are generally between 30 to 60 days after the issue date. Other revenue . Service sales, representing after-market repair and maintenance, engineering activities and software license sales and services were less than 1.0% of net sales and recognized as the services are completed or the software products and services are delivered. Services may be sold separately or in bundled packages. The typical contract length for a service is generally less than one year. For bundled packages, the Company accounts for individual services separately when they are distinct. A distinct service is separately identifiable from other items in the bundled package if a customer can benefit from the service on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate services in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the services. Reconciliation of contract balances Contract assets are the rights to consideration in exchange for goods or services that the Company has transferred to a customer when that right is conditional on something other than the passage of time. Contract liabilities are recorded for any services billed to customers and not yet recognizable if the contract period has commenced or for the amount collected from customers in advance of the contract period commencing. As of September 30, 2019 , the Company had no contract assets or contract liabilities from contracts with customers .

Net income Per Share (Notes)

Net income Per Share (Notes)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Income Per Share	3. Net Income Per Share The following table reconciles basic net income per share of the Company's common stock to diluted net income per share for the three and nine months ended September 30, 2019 and 2018 , respectively: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 Net income available to common stockholders $ 43,686 $ 44,361 $ 105,925 $ 113,876 Basic weighted-average shares outstanding 44,477 46,192 44,673 46,375 Dilutive effect of potential common stock equivalents — restricted stock units 337 430 322 395 Diluted weighted-average shares outstanding 44,814 46,622 44,995 46,770 Net income per common share: Basic $ 0.98 $ 0.96 $ 2.37 $ 2.46 Diluted $ 0.97 $ 0.95 $ 2.35 $ 2.43

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	4. Stockholders' Equity Share Repurchases During the third quarter of 2019, the Company repurchased 348,901 shares of the Company's common stock in the open market at an average price of $61.44 per share, for a total of $21.4 million . For the nine months ended September 30, 2019 , the Company repurchased 854,349 shares of the Company's common stock in the open market at an average price of $60.21 per share, for a total of $51.4 million . As of September 30, 2019 , approximately $48.6 million remains available for repurchase under the previously announced $100.0 million share repurchase authorization (which expires at the end of 2019).

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company allocates stock-based compensation expense related to equity plans for employees and non-employee directors among the cost of sales, research and development and other engineering expense, selling expense, or general and administrative expense based on the job functions performed by the employees to whom the stock-based compensation is awarded. The Company recognized stock-based compensation expense related to its equity plans for employees of $2.1 million and $2.8 million for the three months ended September 30, 2019 and 2018 , respectively, and $8.7 million and $8.8 million for the nine months ended September 30, 2019 and 2018 , respectively. Stock-based compensation cost capitalized in inventory was not material for all periods presented. During the nine months ended September 30, 2019 , the Company granted 208,321 restricted stock units ("RSUs") to the Company's employees, including officers, and seven non-employee directors at an estimated weighted average fair value of $57.73 per share based on the closing price (adjusted for the present value of dividends) of the Company's common stock on the grant date. The RSUs granted to the Company's employees may be time-based, performance-based or time- and performance-based. Certain of the performance-based RSUs are granted to officers and key employees, where the number of performance-based awards to be issued is based on the achievement of certain Company performance criteria established in the RSU agreement over a cumulative three year period. These awards cliff vest after three years. In addition, these same officers and key employees also receive time-based RSUs, which vest pursuant to a three -year graded vesting schedule. Time- and performance based RSUs that are granted to the Company's employees excluding officers and certain key employees, vest ratably over the four year life of the award, and require the underlying shares of the Company's common stock to be subject to a performance-based adjustment during the first year of the award. As of September 30, 2019 , the Company's aggregate unamortized stock compensation expense was approximately $13.2 million , which is entirely attributable to unvested RSUs and is expected to be recognized in expense over a weighted-average period of 2.4

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Trade Accounts Receivable, Net	Trade Accounts Receivable, Net Trade accounts receivable at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Trade accounts receivable $ 186,219 $ 197,378 $ 149,886 Allowance for doubtful accounts (1,434 ) (1,312 ) (1,364 ) Allowance for sales discounts and returns (3,887 ) (3,085 ) (2,470 ) $ 180,898 $ 192,981 $ 146,052

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Raw materials $ 91,088 $ 114,075 $ 98,058 In-process products 24,554 28,251 24,645 Finished products 127,088 137,177 153,385 $ 242,730 $ 279,503 $ 276,088

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net, at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Land $ 29,132 $ 30,173 $ 30,034 Buildings and site improvements 197,075 203,323 198,809 Leasehold improvements 4,909 4,694 4,826 Machinery, equipment, and software 345,861 323,091 330,076 576,977 561,281 563,745 Less accumulated depreciation and amortization (339,920 ) (316,768 ) (318,388 ) 237,057 244,513 245,357 Capital projects in progress 13,893 13,166 9,240 $ 250,950 $ 257,679 $ 254,597

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Goodwill at the dates indicated was as follows: At September 30, At December 31, (in thousands) 2019 2018 2018 North America $ 96,192 $ 95,677 $ 96,435 Europe 33,710 39,404 32,471 Asia/Pacific 1,289 1,378 1,344 Total $ 131,191 $ 136,459 $ 130,250 Intangible assets, net, at the dates indicated were as follows: At September 30, 2019 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 31,305 $ (18,461 ) $ 12,844 Europe 23,351 (14,379 ) 8,972 Total $ 54,656 $ (32,840 ) $ 21,816 At September 30, 2018 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,715 $ (15,993 ) $ 14,722 Europe 23,935 (13,200 ) 10,735 Total $ 54,650 $ (29,193 ) $ 25,457 At December 31, 2018 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,825 $ (16,002 ) $ 14,823 Europe 22,353 (12,774 ) 9,579 Total $ 53,178 $ (28,776 ) $ 24,402 Intangible assets consist of definite-lived and indefinite-lived assets. Definite-lived intangible assets include customer relationships, patents, unpatented technology, and non-compete agreements. Amortization expense of definite-lived intangible assets was $1.4 million for each of the three-month periods ended September 30, 2019 and 2018 , respectively, and was $4.1 million and $4.0 million for the nine months ended September 30, 2019 and 2018 , respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 5.2 years . The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at September 30, 2019 . At September 30, 2019 , the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2019 $ 1,371 2020 5,460 2021 4,981 2022 3,118 2023 2,314 2024 1,349 Thereafter 2,607 $ 21,200 The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2019 , were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2018 $ 130,250 $ 24,402 Acquisitions 1,815 1,213 Reclassifications (370 ) 481 Amortization — (4,065 ) Foreign exchange (504 ) (215 ) Balance at September 30, 2019 $ 131,191 $ 21,816

Leases Leases

Leases Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	10. Leases On January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2023, some of which include options to extend the leases for up to 5 years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. The following table provides a summary of leases included on the condensed consolidated balance sheets, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of September 30, 2019 : Condensed Consolidated Balance Sheets Line Item At September 30, 2019 (in thousands) Operating leases Assets Operating leases Operating lease right-of-use assets $ 34,463 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,037 Operating - noncurrent Operating lease liabilities 27,256 Total operating lease liabilities $ 34,293 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 Accumulated amortization Property, plant and equipment, net (2,578 ) Property and equipment, net Property, plant and equipment, net $ 991 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,116 Other long-term liabilities Deferred income tax and other long-term liabilities 764 Total finance lease liabilities $ 1,880 The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2019 Operating lease cost General administrative expenses and cost of sales $ 2,379 $ 6,784 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 654 Interest on lease liabilities Interest expense, net 16 54 Total finance lease $ 234 $ 708 Other information Supplemental cash flow information related to leases as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,324 $ 6,604 Finance cash flows for finance leases 290 870 Operating right-of-use assets obtained in exchange for lease obligations during the current period 1,616 3,704 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2019 : (in thousands) Operating Leases Finance Leases Remaining three months of 2019 $ 2,355 $ 290 2020 8,928 1,160 2021 7,441 484 2022 5,307 — 2023 3,590 — Thereafter 13,551 — Total lease payments 41,172 1,934 Less: Present value discount (6,879 ) (54 ) Total lease liabilities $ 34,293 $ 1,880 The following table summarizes the Company's lease terms and discount rates as of September 30, 2019 : Weighted-average remaining lease terms (in years): Operating leases 6.72 Finance leases 1.68 Weighted-average discount rate: Operating leases 5.37 % Finance leases 3.23 %
Leases	Leases On January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2023, some of which include options to extend the leases for up to 5 years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. The following table provides a summary of leases included on the condensed consolidated balance sheets, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of September 30, 2019 : Condensed Consolidated Balance Sheets Line Item At September 30, 2019 (in thousands) Operating leases Assets Operating leases Operating lease right-of-use assets $ 34,463 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,037 Operating - noncurrent Operating lease liabilities 27,256 Total operating lease liabilities $ 34,293 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 Accumulated amortization Property, plant and equipment, net (2,578 ) Property and equipment, net Property, plant and equipment, net $ 991 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,116 Other long-term liabilities Deferred income tax and other long-term liabilities 764 Total finance lease liabilities $ 1,880 The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2019 Operating lease cost General administrative expenses and cost of sales $ 2,379 $ 6,784 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 654 Interest on lease liabilities Interest expense, net 16 54 Total finance lease $ 234 $ 708 Other information Supplemental cash flow information related to leases as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,324 $ 6,604 Finance cash flows for finance leases 290 870 Operating right-of-use assets obtained in exchange for lease obligations during the current period 1,616 3,704 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2019 : (in thousands) Operating Leases Finance Leases Remaining three months of 2019 $ 2,355 $ 290 2020 8,928 1,160 2021 7,441 484 2022 5,307 — 2023 3,590 — Thereafter 13,551 — Total lease payments 41,172 1,934 Less: Present value discount (6,879 ) (54 ) Total lease liabilities $ 34,293 $ 1,880 The following table summarizes the Company's lease terms and discount rates as of September 30, 2019 : Weighted-average remaining lease terms (in years): Operating leases 6.72 Finance leases 1.68 Weighted-average discount rate: Operating leases 5.37 % Finance leases 3.23 %

Debt Debt

Debt Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Credit Facilities The Company has revolving lines of credit with various banks in the United States and Europe. Total available credit at September 30, 2019 , was $303.2 million including revolving credit lines and an irrevocable standby letter of credit in support of various insurance deductibles. As of September 30, 2019 , the Company had an outstanding balance of $0.5 million under these credit lines, and no amounts outstanding as of September 30, 2018 , and December 31, 2018 , respectively. The Company was in compliance with its financial covenants at September 30, 2019 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company is involved in various legal proceedings and other matters arising in the normal course of business, including those arising from or related to contractual matters, commercial disputes, intellectual property, personal injury, environmental matters, product performance or warranties, product liability, insurance coverage and personnel, labor and employment disputes. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of complex legal proceedings are often uncertain and difficult to predict, and the Company's view of these matters may change in the future as the litigation and events related thereto unfold. The Company expenses legal fees as incurred. The Company records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. An unfavorable outcome to any legal matter, if material, could have an adverse effect on the Company's operations or its financial position, liquidity or results of operations. Insurance coverages are maintained and estimated costs are recorded for such claims and lawsuits, including costs to settle claims and lawsuits, based on experience involving similar matters and specific facts known. The Company believes that its defenses and assertions in pending legal proceedings have merit and does not believe that any of these pending matters, after consideration of applicable reserves and rights to indemnification, will have a material adverse effect on the Company’s consolidated financial position. However, substantial unanticipated verdicts, fines and rulings do sometimes occur. As a result, the Company could from time to time incur judgments, enter into settlements or revise its expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on its results of operations in the period in which the amounts are accrued and/or its cash flows in the period in which the amounts are paid. The Company previously recorded a charge to administrative expense of approximately $2.9 million , net of tax for a certain pending legal proceeding during the period ended December 31, 2018. The Company has recorded an additional charge of approximately $100,000 in the period ended September 30, 2019 , resulting in the total charge recorded for such matter being approximately $3.0 million , net of tax. Gentry Homes, Ltd. v. Simpson Strong-Tie Company, Inc., et al. , Case No. 17-cv-00566, was filed in federal district court in Hawaii against Simpson Strong-Tie Company, Inc. and Simpson Manufacturing, Inc. on November 20, 2017. The Gentry case is a product of a previous state court class action , Nishimura v. Gentry Homes, Ltd., et al. which is now closed. The Nishimura case concerned alleged corrosion of the Company’s galvanized strap-tie holdowns and mudsill anchor products used in a residential project in Honolulu, Hawaii, Ewa by Gentry. In the Nishimura case, the plaintiff homeowners and the developer, Gentry, arbitrated their dispute and agreed on a settlement in the amount of $90 million , with $54 million going to repair costs and $36 million going to attorney's fees. In the Gentry case, Gentry alleges breach of warranty and negligent misrepresentation related to the Company’s strap-tie holdowns and mudsill anchor products. Gentry is demanding general, special, and consequential damages from the Company in an amount to be proven at trial. Gentry also seeks pre-judgment and post-judgment interest, attorneys’ fees and costs, and other relief. Stephen Kaneshiro, et al. v. Stanford Carr Development, LLC et al./Stanford Carr Development, LLC, et al. v. Simpson Strong-Tie Company, Inc. , Civil No. 18-1-1472-09 VLC, is a putative class action lawsuit filed in the Hawaii First Circuit. The Company was added as a third-party defendant on December 28, 2018. The homeowner plaintiffs allege that all homes built by Stanford Carr Development and its subsidiaries (collectively "Stanford Carr") in the State of Hawaii have strap-tie holdowns and mudsill anchors that are suffering premature corrosion. Stanford Carr has asserted indemnity and contribution claims against the Company. Potential Third-Party Claims Charles Vitale, et al. v. D.R. Horton, Inc. and D.R. Horton-Schuler Homes, LLC , Civil No. 15-1-1347-07, a putative class action lawsuit, was filed in the Hawaii First Circuit on July 13, 2015, in which homeowner plaintiffs allege that all homes built by D.R Horton/D.R. Horton-Schuler Homes (collectively "Horton Homes") in the State of Hawaii have strap-tie holdowns that are suffering premature corrosion. The court has denied a motion for statewide class certification. The Company is not currently a party to the Vitale lawsuit. If claims are asserted against the Company in the Vitale case, it will vigorously defend any such claims, whether brought by the plaintiff homeowners, or third party claims by Horton Homes. Based on facts currently known to the Company and subject to future events and circumstances, the Company believes that all or part of any claims that any party might seek to allege against it related to the Vitale case may be covered by its insurance policies.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is organized into three reportable segments, which are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North America segment, comprising primarily the United States and Canada; the Europe segment, comprising continental Europe and the United Kingdom; and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the South Pacific and the Middle East. The Company's China and Hong Kong operations are manufacturing and administrative support locations, respectively. These three reportable segments are similar in several ways, including the types of materials used in production, production processes, distribution channels and product applications. The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The following tables illustrate certain measurements used by management to assess the performance of its reportable segments as of or for the following periods: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Net Sales North America $ 265,505 $ 239,898 $ 746,009 $ 705,932 Europe 42,219 42,020 121,647 124,096 Asia/Pacific 2,208 2,260 6,373 6,936 Total $ 309,932 $ 284,178 $ 874,029 $ 836,964 Sales to Other Segments* North America $ 520 $ 683 $ 1,327 $ 1,889 Europe 479 140 1,568 740 Asia/Pacific 7,600 7,586 21,272 20,907 Total $ 8,599 $ 8,409 $ 24,167 $ 23,536 Income (Loss) from Operations** North America $ 56,844 $ 56,280 $ 139,489 $ 152,724 Europe 5,386 3,953 9,645 6,053 Asia/Pacific (481 ) (86 ) (837 ) (1,749 ) Administrative and all other (782 ) (469 ) (3,654 ) (3,234 ) Total $ 60,967 $ 59,678 $ 144,643 $ 153,794 * Sales to other segments are eliminated in consolidation. ** Beginning in the first quarter of 2019, income from inter-segment sales, previously included in income from operations for segment reporting, is now presented below income from operations. Income from inter-segment sales is eliminated in consolidation but was an expense in the North America and Europe segment and income in the Asia/Pacific segment. At At September 30, December 31, (in thousands) 2019 2018 2018 Total Assets North America $ 1,246,617 $ 1,080,910 $ 1,119,012 Europe 169,183 208,888 157,437 Asia/Pacific 28,009 28,448 25,644 Administrative and all other (357,501 ) (223,633 ) (280,430 ) Total $ 1,086,308 $ 1,094,613 $ 1,021,663 Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore, has been included in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $135.9 million , $87.5 million , and $113.6 million , as of September 30, 2019 and 2018 , and December 31, 2018 , respectively. Total "Administrative and all other" assets are net of inter-segment due to and from accounts eliminated in consolidation. While the Company manages its business by geographic segment, the following table illustrates the distribution of the Company’s net sales by product group as additional information for the following periods: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Wood construction products $ 255,869 $ 238,230 $ 731,898 $ 710,880 Concrete construction products 53,947 45,832 141,883 125,847 Other 116 116 248 237 Total $ 309,932 $ 284,178 $ 874,029 $ 836,964 Wood construction products include connectors, truss plates, fastening systems, fasteners and pre-fabricated shearwalls, and are used for connecting and strengthening wood-based construction primarily in the residential construction market. Concrete construction products include adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforcing materials, and are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction. The Company’s largest customer, attributable mostly to the North America segment, accounted for 11.0% and 11.3% of net sales for three months and nine months ended September 30, 2019 , respectively, and 10.5% of net sales, accounted for the nine months ended September 30, 2018 .

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 24, 2019 , the Company’s Board of Directors declared a quarterly cash dividend of $0.23 per share, estimated to be $10.2 million in total. The dividend will be payable on January 23, 2020 , to the Company's stockholders of record on January 2, 2020 . In November 2019, the Company sold its selling and distribution facility in British Columbia, Canada for approximately $9.5 million in net proceeds after closing costs and sale price adjustments, which resulted in an estimated gain on disposal of fixed assets of $5.6 million . To provide a temporary transition until the Company relocates to the new leased facility, the Company is leasing back the sold facility from the buyer for approximately five months. The Company treated the leaseback transaction as a short-term lease and will recognize the rent expense on the straight-line basis over the lease term .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of Simpson Manufacturing Co., Inc. and its subsidiaries (collectively, the “Company”). Investments in 50% or less owned entities are accounted for using either cost or the equity method. All significant intercompany transactions have been eliminated.
Interim Period Reporting	Interim Reporting Period The accompanying unaudited quarterly condensed consolidated financial statements have been prepared pursuant to the rules and regulations for reporting on Form 10-Q. Accordingly, certain information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These interim statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the “2018 Form 10-K”). The unaudited quarterly condensed consolidated financial statements have been prepared on the same basis as the audited annual consolidated financial statements and, in the opinion of management, contain all adjustments (consisting of only normal recurring adjustments) necessary to state fairly the financial information set forth therein in accordance with GAAP. Certain prior period amounts in the condensed consolidated financial statements and the accompanying notes have been reclassified to conform to the current period’s presentation. The year-end condensed consolidated balance sheet data provided herein were derived from audited financial statements included in the 2018 Form 10-K, but do not include all disclosures required by GAAP. The Company’s quarterly results fluctuate. As a result, the Company believes the results of operations for this interim period presented are not indicative of the results to be expected for any future periods.
Revenue Recognition	Revenue Recognition Generally, the Company's revenue contract with a customer exists when the goods are shipped, services are rendered; and its related invoice is generated. The duration of the contract does not extend beyond the promised goods or services already transferred. The transaction price of each distinct promised product or service specified in the invoice is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer at a point in time. The Company’s shipping terms provide the primary indicator of the transfer of control. The Company's general shipping terms are F.O.B. shipping point, where title and risk and rewards of ownership transfer at the point when the products leave the Company's warehouse. The Company recognizes revenue based on the consideration specified in the invoice with a customer, excluding any sales incentives, discounts, and amounts collected on behalf of third parties (i.e., governmental tax authorities). Based on historical experience with the customer, the customer's purchasing pattern and its significant experience selling products, the Company concluded that a significant reversal in the cumulative amount of revenue recognized will not occur when the uncertainty (if any) is resolved (that is, when the total amount of purchases is known). Refer to Note 2 for additional information.
Net Income Per Common Share	Net Income Per Common Share The Company calculates net income per common share based on the weighted-average number of the Company's common stock outstanding during the period. Potentially dilutive securities are included in the diluted per-share calculations using the treasury stock method for all periods when the effect is dilutive.
Accounting for Leases	Accounting for Leases The Company has operating and finance leases for certain facilities, equipment, autos and data centers. As an accounting policy for short-term leases, the Company elected to not recognize the right-of-use asset and liability, if, at the commencement date, the lease (1) has a term of 12 months or less and (2) does not include renewal and purchase options that the Company is reasonably certain to exercise. Monthly payments on short-term leases are recognized on the straight-line basis over the full lease term.
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation The Company recognizes stock-based expense related to restricted stock unit awards on a straight-line basis, net of estimated forfeitures, over the requisite service period of the awards, which is generally a vesting term of four
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified under a three-tier fair valuation hierarchy based on the observability of the inputs available in the market: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As of September 30, 2019 and 2018 , the Company’s investments included in cash equivalents consisted of only money market funds, which are the Company’s primary financial instruments and carried at cost, approximating fair value, based on Level 1 inputs. The balance of the Company’s primary financial instruments as of September 30, 2019 and 2018 was $0.1 million and $7.6 million , respectively. The carrying amounts of trade accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. The fair value of the Company’s contingent consideration related to acquisitions is classified as Level 3 within the fair value hierarchy as it is based on unobserved inputs such as management estimates and entity-specific assumptions and is evaluated on an ongoing basis.
Income Taxes	Income Taxes The Company uses an estimated annual tax rate to measure the tax benefit or tax expense recognized in each interim period.
Acquisitions	Acquisitions Under the business combinations topic ASC 805, the Company accounts for acquisitions as business combinations and ascribes acquisition-date fair values to the acquired assets and assumed liabilities. Provisional fair value measurements are made at the time of the acquisition. Adjustments to those measurements may be made in subsequent periods, up to one year from the acquisition date, as information necessary to complete the analysis is obtained. The fair value of intangible assets are generally based on Level 3 inputs.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Accounting Standards - To Be Adopted In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326 ): Measurement of Credit Losses on Financial Instruments. ” ASU 2016-13 amendments provide guidance on accounting for current expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. The required measurement methodology is based on expected loss model that includes historical experience, current conditions, and reasonable and supportable forecasts. ASU 2016-13 eliminates the probable incurred loss recognition in current GAAP. ASU 2016-13 is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is evaluating the impact of the adoption of this new accounting guidance on its consolidated financial statements. Accounting Standards - Recently Adopted In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). The core requirement of ASU 2016-02 is to recognize assets and liabilities that arise from leases, including those leases classified as operating leases. The amendments require a lessee to recognize a liability to make lease payments (the lease liability) and a right-of-use asset ("ROU") representing its right to use the underlying asset for the lease term in the statement of financial position. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. On January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company elected and applied a few practical transition expedients including, not reassessing whether any expired or existing contracts are or contain leases; not reassessing the lease classification for any expired or existing leases and not reassessing initial direct costs for any existing leases. The Company has operating and finance leases for certain facilities, equipment, autos and data centers. The adoption of ASU 2016-02 resulted in the recognition of ROU assets and lease liabilities of approximately $34.3 million and $35.1 million , respectively on January 1, 2019. The adoption had no material impact on the condensed consolidated statement of operations or cash flows. See Note 10. All other issued and effective accounting standards during the third quarter of 2019 were determined to be not relevant or material to the Company.

Net income Per Share (Tables)

Net income Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reconciles basic net income per share of the Company's common stock to diluted net income per share for the three and nine months ended September 30, 2019 and 2018 , respectively: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2019 2018 2019 2018 Net income available to common stockholders $ 43,686 $ 44,361 $ 105,925 $ 113,876 Basic weighted-average shares outstanding 44,477 46,192 44,673 46,375 Dilutive effect of potential common stock equivalents — restricted stock units 337 430 322 395 Diluted weighted-average shares outstanding 44,814 46,622 44,995 46,770 Net income per common share: Basic $ 0.98 $ 0.96 $ 2.37 $ 2.46 Diluted $ 0.97 $ 0.95 $ 2.35 $ 2.43

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Schedule of trade accounts receivable, net	Trade accounts receivable at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Trade accounts receivable $ 186,219 $ 197,378 $ 149,886 Allowance for doubtful accounts (1,434 ) (1,312 ) (1,364 ) Allowance for sales discounts and returns (3,887 ) (3,085 ) (2,470 ) $ 180,898 $ 192,981 $ 146,052

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of carrying values of inventories	Inventories at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Raw materials $ 91,088 $ 114,075 $ 98,058 In-process products 24,554 28,251 24,645 Finished products 127,088 137,177 153,385 $ 242,730 $ 279,503 $ 276,088

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property, plant and equipment, net, at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2019 2018 2018 Land $ 29,132 $ 30,173 $ 30,034 Buildings and site improvements 197,075 203,323 198,809 Leasehold improvements 4,909 4,694 4,826 Machinery, equipment, and software 345,861 323,091 330,076 576,977 561,281 563,745 Less accumulated depreciation and amortization (339,920 ) (316,768 ) (318,388 ) 237,057 244,513 245,357 Capital projects in progress 13,893 13,166 9,240 $ 250,950 $ 257,679 $ 254,597

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill, by segment	Goodwill at the dates indicated was as follows: At September 30, At December 31, (in thousands) 2019 2018 2018 North America $ 96,192 $ 95,677 $ 96,435 Europe 33,710 39,404 32,471 Asia/Pacific 1,289 1,378 1,344 Total $ 131,191 $ 136,459 $ 130,250
Schedule of net intangible assets, by segment	Intangible assets, net, at the dates indicated were as follows: At September 30, 2019 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 31,305 $ (18,461 ) $ 12,844 Europe 23,351 (14,379 ) 8,972 Total $ 54,656 $ (32,840 ) $ 21,816 At September 30, 2018 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,715 $ (15,993 ) $ 14,722 Europe 23,935 (13,200 ) 10,735 Total $ 54,650 $ (29,193 ) $ 25,457 At December 31, 2018 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,825 $ (16,002 ) $ 14,823 Europe 22,353 (12,774 ) 9,579 Total $ 53,178 $ (28,776 ) $ 24,402
Schedule of estimated future amortization of intangible assets	At September 30, 2019 , the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2019 $ 1,371 2020 5,460 2021 4,981 2022 3,118 2023 2,314 2024 1,349 Thereafter 2,607 $ 21,200
Changes in the carrying amount of goodwill and intangible assets	The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2019 , were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2018 $ 130,250 $ 24,402 Acquisitions 1,815 1,213 Reclassifications (370 ) 481 Amortization — (4,065 ) Foreign exchange (504 ) (215 ) Balance at September 30, 2019 $ 131,191 $ 21,816

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Lease, Cost [Abstract]
Balance Sheet Information	The following table provides a summary of leases included on the condensed consolidated balance sheets, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of September 30, 2019 : Condensed Consolidated Balance Sheets Line Item At September 30, 2019 (in thousands) Operating leases Assets Operating leases Operating lease right-of-use assets $ 34,463 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,037 Operating - noncurrent Operating lease liabilities 27,256 Total operating lease liabilities $ 34,293 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 Accumulated amortization Property, plant and equipment, net (2,578 ) Property and equipment, net Property, plant and equipment, net $ 991 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,116 Other long-term liabilities Deferred income tax and other long-term liabilities 764 Total finance lease liabilities $ 1,880
Lease, Cost	The following table summarizes the Company's lease terms and discount rates as of September 30, 2019 : Weighted-average remaining lease terms (in years): Operating leases 6.72 Finance leases 1.68 Weighted-average discount rate: Operating leases 5.37 % Finance leases 3.23 % The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2019 Operating lease cost General administrative expenses and cost of sales $ 2,379 $ 6,784 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 654 Interest on lease liabilities Interest expense, net 16 54 Total finance lease $ 234 $ 708
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2019 : (in thousands) Operating Leases Finance Leases Remaining three months of 2019 $ 2,355 $ 290 2020 8,928 1,160 2021 7,441 484 2022 5,307 — 2023 3,590 — Thereafter 13,551 — Total lease payments 41,172 1,934 Less: Present value discount (6,879 ) (54 ) Total lease liabilities $ 34,293 $ 1,880
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2019 : (in thousands) Operating Leases Finance Leases Remaining three months of 2019 $ 2,355 $ 290 2020 8,928 1,160 2021 7,441 484 2022 5,307 — 2023 3,590 — Thereafter 13,551 — Total lease payments 41,172 1,934 Less: Present value discount (6,879 ) (54 ) Total lease liabilities $ 34,293 $ 1,880

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of performance of reportable segments	The following tables illustrate certain measurements used by management to assess the performance of its reportable segments as of or for the following periods: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Net Sales North America $ 265,505 $ 239,898 $ 746,009 $ 705,932 Europe 42,219 42,020 121,647 124,096 Asia/Pacific 2,208 2,260 6,373 6,936 Total $ 309,932 $ 284,178 $ 874,029 $ 836,964 Sales to Other Segments* North America $ 520 $ 683 $ 1,327 $ 1,889 Europe 479 140 1,568 740 Asia/Pacific 7,600 7,586 21,272 20,907 Total $ 8,599 $ 8,409 $ 24,167 $ 23,536 Income (Loss) from Operations** North America $ 56,844 $ 56,280 $ 139,489 $ 152,724 Europe 5,386 3,953 9,645 6,053 Asia/Pacific (481 ) (86 ) (837 ) (1,749 ) Administrative and all other (782 ) (469 ) (3,654 ) (3,234 ) Total $ 60,967 $ 59,678 $ 144,643 $ 153,794 * Sales to other segments are eliminated in consolidation. ** Beginning in the first quarter of 2019, income from inter-segment sales, previously included in income from operations for segment reporting, is now presented below income from operations. Income from inter-segment sales is eliminated in consolidation but was an expense in the North America and Europe segment and income in the Asia/Pacific segment. At At September 30, December 31, (in thousands) 2019 2018 2018 Total Assets North America $ 1,246,617 $ 1,080,910 $ 1,119,012 Europe 169,183 208,888 157,437 Asia/Pacific 28,009 28,448 25,644 Administrative and all other (357,501 ) (223,633 ) (280,430 ) Total $ 1,086,308 $ 1,094,613 $ 1,021,663
Schedule of net sales distributed by product group	While the Company manages its business by geographic segment, the following table illustrates the distribution of the Company’s net sales by product group as additional information for the following periods: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2019 2018 2019 2018 Wood construction products $ 255,869 $ 238,230 $ 731,898 $ 710,880 Concrete construction products 53,947 45,832 141,883 125,847 Other 116 116 248 237 Total $ 309,932 $ 284,178 $ 874,029 $ 836,964

Basis of Presentation (Details)

Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2019
Stock-Based Compensation
Maximum period for payment for adjustments to provisional fair value measurements	1 year
Maximum [Member]
Stock-Based Compensation
Vesting period	4 years

Basis of Presentation - Recentl

Basis of Presentation - Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right-of-use assets	$ 34,463	$ 34,300
Total lease liabilities	$ 34,293	$ 35,100

Basis of Presentation Fair valu

Basis of Presentation Fair value of financial instruments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Cash and Cash Equivalents [Abstract]
Money Market Funds, at Carrying Value	$ 0.1	$ 7.6

Revenue from Contract with Cu_2

Revenue from Contract with Customer (Details) - ASC 606	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Wood construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	84.00%	85.00%
Concrete construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	16.00%	15.00%
Other
Disaggregation of Revenue [Line Items]
Percentage of net sales	1.00%

Stockholders' Equity Shares Rep

Stockholders' Equity Shares Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 01, 2018
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Shares	348,901	854,349
Treasury Stock Acquired, Average Cost Per Share	$ 61.44	$ 60.21
Treasury Stock, Value, Acquired, Par Value Method	$ 21.4	$ 51.4
2018 Stock Repurchase Program [Member] [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 48.6	$ 48.6	$ 100

Net income Per Share - Reconcil

Net income Per Share - Reconciliation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Reconciliation of basic earnings per share ("EPS") to diluted EPS
Net income available to common stockholders	$ 43,686	$ 44,361	$ 105,925	$ 113,876	$ 12,757
Basic weighted-average shares outstanding	44,477	46,192	44,673	46,375
Dilutive effect of potential common stock equivalents — restricted stock units	337	430	322	395
Diluted weighted-average shares outstanding	44,814	46,622	44,995	46,770
Earnings per common share:
Basic	$ 0.98	$ 0.96	$ 2.37	$ 2.46
Diluted	$ 0.97	$ 0.95	$ 2.35	$ 2.43

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 15, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock-Based Compensation
Stock-based compensation expense		$ 2.1	$ 2.8	$ 8.7	$ 8.8
Unrecognized compensation cost and vesting period
Unrecognized compensation costs related to unvested share-based compensation arrangements		$ 13.2		$ 13.2
Weighted-average period for recognition of unrecognized stock-based compensation expense				2 years 4 months 24 days
Restricted Stock Units
Stock-Based Compensation
Awarded (in shares)				208,321
Weighted average granted date fair value (in dollars per share)	$ 57.73
Vesting period	3 years
Employees | Restricted Stock Units
Stock-Based Compensation
Vesting period	4 years

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Receivables [Abstract]
Trade accounts receivable	$ 186,219	$ 149,886	$ 197,378
Allowance for doubtful accounts	(1,434)	(1,364)	(1,312)
Allowance for sales discounts and returns	(3,887)	(2,470)	(3,085)
Trade accounts receivable, net	$ 180,898	$ 146,052	$ 192,981

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 91,088	$ 98,058	$ 114,075
In-process products	24,554	24,645	28,251
Finished products	127,088	153,385	137,177
Total inventories	$ 242,730	$ 276,088	$ 279,503

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Property, Plant and Equipment
Property, plant and equipment, gross	$ 576,977	$ 563,745	$ 561,281
Less accumulated depreciation and amortization	(339,920)	(318,388)	(316,768)
Property, plant and equipment excluding capital projects in progress, net	237,057	245,357	244,513
Capital projects in progress	13,893	9,240	13,166
Property, plant and equipment, net	250,950	254,597	257,679
Land
Property, Plant and Equipment
Property, plant and equipment, gross	29,132	30,034	30,173
Buildings and site improvements
Property, Plant and Equipment
Property, plant and equipment, gross	197,075	198,809	203,323
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	4,909	4,826	4,694
Machinery, equipment, and software
Property, Plant and Equipment
Property, plant and equipment, gross	$ 345,861	$ 330,076	$ 323,091

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net, Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Carrying amount of goodwill by reportable segment
Goodwill	$ 131,191	$ 130,250	$ 136,459
North America
Carrying amount of goodwill by reportable segment
Goodwill	96,192	96,435	95,677
Europe
Carrying amount of goodwill by reportable segment
Goodwill	33,710	32,471	39,404
Asia/Pacific
Carrying amount of goodwill by reportable segment
Goodwill	$ 1,289	$ 1,344	$ 1,378

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net, Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,400	$ 1,400	$ 4,065	$ 4,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			5 years 2 months 12 days
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	54,656	54,650	$ 54,656	54,650	$ 53,178
Accumulated amortization	(32,840)	(29,193)	(32,840)	(29,193)	(28,776)
Net carrying amount	21,816	25,457	21,816	25,457	24,402
North America
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	31,305	30,715	31,305	30,715	30,825
Accumulated amortization	(18,461)	(15,993)	(18,461)	(15,993)	(16,002)
Net carrying amount	12,844	14,722	12,844	14,722	14,823
Europe
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	23,351	23,935	23,351	23,935	22,353
Accumulated amortization	(14,379)	(13,200)	(14,379)	(13,200)	(12,774)
Net carrying amount	$ 8,972	$ 10,735	$ 8,972	$ 10,735	$ 9,579

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangibles	$ 1,400	$ 1,400	$ 4,065	$ 4,000
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 600		$ 600

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net, Estimated Future Amortization (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years 2 months 12 days
Remaining three months of 2019	$ 1,371
2019	5,460
2020	4,981
2021	3,118
2022	2,314
2023	1,349
Thereafter	2,607
Total	$ 21,200

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets, Net, Carrying Amount of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill
Balance at the beginning of the period			$ 130,250
Amortization			1,815
Foreign exchange			(504)
Balance at the end of the period	$ 131,191	$ 136,459	131,191	$ 136,459
Intangible Assets
Balance at the beginning of the period			24,402
Finite-lived Intangible Assets Acquired			1,213
Amortization	(1,400)	(1,400)	(4,065)	(4,000)
Foreign exchange			(215)
Balance at the end of the period	$ 21,816	$ 25,457	21,816	$ 25,457
Goodwill, Other Increase (Decrease)			(370)
Finite Lived Intangible Assets Reclassifications			$ 481

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2019
Leases [Abstract]
Option to extend term	5 years

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 34,463	$ 34,300
Operating - current	7,037
Operating - noncurrent	27,256
Total operating lease liabilities	34,293	$ 35,100
Property and equipment, gross	3,569
Accumulated amortization	(2,578)
Property and equipment, net	991
Other current liabilities	1,116
Other long-term liabilities	764
Total finance lease liabilities	$ 1,880

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2,379	$ 6,784
Amortization of right-of-use assets	218	654
Interest on lease liabilities	16	54
Total finance lease	$ 234	$ 708

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Lease, Cost [Abstract]
Operating cash flows for operating leases	$ 2,324	$ 6,604
Finance cash flows for finance leases	290	870
Operating right-of-use assets obtained in exchange for lease obligations during the current period	$ 1,616	$ 3,704

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining three months of 2019	$ 2,355
2020	8,928
2021	7,441
2022	5,307
2023	3,590
Thereafter	13,551
Total lease payments	41,172
Less: Present value discount	(6,879)
Total lease liabilities	34,293	$ 35,100
Finance Leases
Remaining three months of 2019	290
2020	1,160
2021	484
2022	0
2023	0
Thereafter	0
Total lease payments	1,934
Less: Present value discount	(54)
Total finance lease liabilities	$ 1,880

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Sep. 30, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 8 months 19 days
Finance Lease, Weighted Average Remaining Lease Term	1 year 8 months 4 days
Operating Lease, Weighted Average Discount Rate, Percent	5.37%
Finance Lease, Weighted Average Discount Rate, Percent	3.23%

Debt (Details)

Debt (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Line of Credit
Debt
Credit facility, total available credit	$ 303,200,000
Primary Revolving Credit Facility
Debt
Line of credit and notes payable	$ 500,000	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Nov. 20, 2017	Sep. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Litigation expense		$ 3,000	$ 2,900
Additional expense		$ 100
Nishimura v. Gentry Homes, Ltd
Loss Contingencies [Line Items]
Settlement amount	$ 90,000
Repair costs	54,000
Attorney fees	$ 36,000

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment			3
Segment Information
Net sales	$ 309,932	$ 284,178	$ 874,029	$ 836,964
Income (Loss) from Operations	60,967	59,678	144,643	153,794
Total Assets	1,086,308	1,094,613	1,086,308	1,094,613	$ 1,021,663
Cash and cash equivalent	194,061	166,961	194,061	166,961	160,180	$ 168,514
Intersegment elimination
Segment Information
Net sales	8,599	8,409	24,167	23,536
Administrative and all other
Segment Information
Income (Loss) from Operations	(782)	(469)	(3,654)	(3,234)
Total Assets	(357,501)	(223,633)	(357,501)	(223,633)	(280,430)
Cash and cash equivalent	135,900	87,500	135,900	87,500	113,600
North America
Segment Information
Net sales	265,505	239,898	746,009	705,932
Income (Loss) from Operations	56,844	56,280	139,489	152,724
Total Assets	1,246,617	1,080,910	1,246,617	1,080,910	1,119,012
North America | Intersegment elimination
Segment Information
Net sales	520	683	1,327	1,889
Europe
Segment Information
Net sales	42,219	42,020	121,647	124,096
Income (Loss) from Operations	5,386	3,953	9,645	6,053
Total Assets	169,183	208,888	169,183	208,888	157,437
Europe | Intersegment elimination
Segment Information
Net sales	479	140	1,568	740
Asia/Pacific
Segment Information
Net sales	2,208	2,260	6,373	6,936
Income (Loss) from Operations	(481)	(86)	(837)	(1,749)
Total Assets	28,009	28,448	28,009	28,448	$ 25,644
Asia/Pacific | Intersegment elimination
Segment Information
Net sales	$ 7,600	$ 7,586	$ 21,272	$ 20,907

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net sales and long-lived assets by geographical area
Net sales	$ 309,932	$ 284,178	$ 874,029	$ 836,964
Wood construction products
Net sales and long-lived assets by geographical area
Net sales	255,869	238,230	731,898	710,880
Concrete construction products
Net sales and long-lived assets by geographical area
Net sales	53,947	45,832	141,883	125,847
Other
Net sales and long-lived assets by geographical area
Net sales	116	116	248	237
North America
Net sales and long-lived assets by geographical area
Net sales	$ 265,505	$ 239,898	$ 746,009	$ 705,932

Segment Information (Narrative)

Segment Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Cash and cash equivalents	$ 194,061	$ 194,061	$ 166,961	$ 160,180	$ 168,514
Administrative and all other
Concentration Risk [Line Items]
Cash and cash equivalents	$ 135,900	$ 135,900	$ 87,500	$ 113,600
North America | Geographic | Net Sales
Concentration Risk [Line Items]
Percentage of net sales	11.00%	11.30%	10.50%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 01, 2019	Oct. 24, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)			$ 0.23	$ 0.22	$ 0.68	$ 0.65	$ 0.22
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.23
Dividends		$ 10.2
Net Proceeds from Sale of the Facility	$ 9.5
Gains (Losses) on Sale of the Facility	$ 5.6

Uncategorized Items - ssd930201

Label	Element	Value
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	$ 791,000
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	$ 791,000