Simpson Manufacturing (SSD) 10-Q 7 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		43,463,983
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Entity Central Index Key	0000920371
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Current assets
Cash and cash equivalents	$ 301,741	$ 230,210	$ 113,407
Trade accounts receivable, net	168,736	139,364	173,140
Inventories	255,720	251,907	272,459
Assets held-for-sale	0	0	2,546
Other current assets	25,786	19,426	14,186
Total current assets	751,983	640,907	575,738
Property, plant and equipment, net	246,941	249,012	251,398
Operating lease right-of-use assets	33,725	35,436	34,324
Goodwill	131,599	131,879	131,712
Equity investment	2,474	2,480	2,511
Intangible assets, net	23,454	25,071	24,148
Other noncurrent assets	8,072	10,581	10,521
Total Assets	1,198,248	1,095,366	1,030,352
Current liabilities
Trade accounts payable	44,505	33,351	35,549
Accrued liabilities and other current liabilities	118,346	125,556	115,029
Total current liabilities	162,851	158,907	150,578
Operating lease liabilities	26,084	27,930	28,878
Long term debt, net of current portion	150,000	0	0
Deferred income tax and other long-term liabilities	17,719	16,572	15,422
Total liabilities	356,654	203,409	194,878
Commitments and contingencies (see Note 12)
Stockholders’ equity
Common stock, at par value	444	442	455
Additional paid-in capital	272,872	280,216	274,836
Retained earnings	672,485	645,507	641,168
Treasury stock	(72,058)	(9,379)	(55,000)
Accumulated other comprehensive loss	(32,149)	(24,829)	(25,985)
Total stockholders’ equity	841,594	891,957	835,474
Total liabilities and stockholders’ equity	$ 1,198,248	$ 1,095,366	$ 1,030,352

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 283,668	$ 259,244
Cost of sales	154,002	148,990
Gross profit	129,666	110,254
Operating expenses:
Research and development and other engineering	13,382	12,260
Selling	28,527	28,112
General and administrative	38,471	39,549
Total operating expenses	80,380	79,921
Net loss (gain) on disposal of assets	(64)	310
Income from operations	49,350	30,023
Interest expense, net and other	(2,533)	(763)
Income before taxes	46,817	29,260
Provision for income taxes	9,991	6,598
Net income	36,826	22,662
Translation adjustment, net of tax	(7,593)	(1,335)
Unamortized pension adjustments	273	0
Comprehensive net income	$ 29,506	$ 21,327
Earnings per common share:
Basic	$ 0.84	$ 0.51
Diluted	$ 0.83	$ 0.50
Number of shares outstanding
Basic	44,099	44,874
Diluted	44,286	45,213
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.22

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, 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	22,662			22,662
Translation adjustment, net of tax	(1,335)				(1,335)
Stock-based compensation	3,903		3,903
Shares issued from release of Restricted Stock Units	(5,861)	$ 2	(5,863)
Shares issued from release of Restricted Stock Units (in shares)		164
Repurchase of common stock	(30,000)		0			(30,000)
Repurchase of common stock (in shares)		(505)
Cash dividends declared on common stock	(9,701)			(9,701)
Common stock issued	292		292
Common stock issued (in shares)		5
Balance at Mar. 31, 2019	835,474	$ 455	274,836	641,168	(25,985)	(55,000)
Balance (in shares) at Mar. 31, 2019		44,662
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	111,320			111,320
Translation adjustment, net of tax	2,220				2,220
Pension adjustment, net of tax	(1,064)				(1,064)
Stock-based compensation	5,422		5,422
Shares issued from release of Restricted Stock Units	(42)	$ 0	(42)
Shares issued from release of Restricted Stock Units (in shares)		14
Repurchase of common stock	(30,816)		0			(30,816)
Repurchase of common stock (in shares)		(467)
Retirement of common stock	0	$ (13)		(76,424)		76,437
Cash dividends declared on common stock	(30,557)			(30,557)
Balance at Dec. 31, 2019	891,957	$ 442	280,216	645,507	(24,829)	(9,379)
Balance (in shares) at Dec. 31, 2019		44,209
Increase (Decrease) in Stockholders' Equity
Net income	36,826			36,826
Translation adjustment, net of tax	(7,593)				(7,593)
Pension adjustment, net of tax	273				273
Stock-based compensation	33		33
Shares issued from release of Restricted Stock Units	(7,697)	$ 2	(7,699)
Shares issued from release of Restricted Stock Units (in shares)		153
Repurchase of common stock	(62,679)		0			(62,679)
Repurchase of common stock (in shares)		(902)
Cash dividends declared on common stock	(9,848)			(9,848)
Common stock issued	322		322
Common stock issued (in shares)		4
Balance at Mar. 31, 2020	$ 841,594	$ 444	$ 272,872	$ 672,485	$ (32,149)	$ (72,058)
Balance (in shares) at Mar. 31, 2020		43,464

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.22
Common stock issued per share for stock bonus (in USD per share)	$ 80.38	$ 54.31

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Statement of Cash Flows [Abstract]
Net income	$ 36,826	$ 22,662	$ 111,320
Adjustments to reconcile net income to net cash provided by operating activities:
(Gain)/loss on sale of assets and other	(58)	286
Depreciation and amortization	9,734	9,758
Noncash lease expense	1,997	1,675
Deferred income taxes	1,430	1,371
Noncash compensation related to stock plans	277	4,105
Provision (benefit) of doubtful accounts	721	(3)
Changes in operating assets and liabilities:
Trade accounts receivable	(32,161)	(26,968)
Inventories	(5,962)	3,080
Trade accounts payable	11,018	1,915
Other current assets	(6,821)	323
Accrued liabilities and other current liabilities	(4,927)	(6,718)
Other noncurrent assets and liabilities	651	(1,838)
Net cash provided by operating activities	12,725	9,648
Cash flows from investing activities
Capital expenditures	(6,795)	(7,352)
Asset acquisitions, net of cash acquired	0	(3,492)
Proceeds from sale of property and equipment	561	38
Net cash used in investing activities	(6,234)	(10,806)
Cash flows from financing activities
Repurchase of common stock	(62,679)	(30,000)
Proceeds from line of credit	154,529	6,758
Repayments of line of credit and capital leases	(5,415)	(6,459)
Dividends paid	(10,169)	(9,901)
Cash paid on behalf of employees for shares withheld	(7,699)	(5,864)
Net cash provided by (used) in financing activities	68,567	(45,466)
Effect of exchange rate changes on cash and cash equivalents	(3,527)	(149)
Net increase (decrease) in cash and cash equivalents	71,531	(46,773)
Cash and cash equivalents at beginning of period	230,210	160,180	160,180
Cash and cash equivalents at end of period	301,741	113,407	$ 230,210
Noncash activity during the period
Noncash capital expenditures	289	284
Dividends declared but not paid	10,204	9,761
Contingent consideration for acquisition	0	309
Issuance of Company’s common stock for compensation	$ 322	$ 292

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
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. Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that these consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation under GAAP. Uncertainty created by the COVID-19 pandemic will likely impact our operations, customers, and various areas of risk. We assessed certain accounting matters that require the use of estimates and assumptions in context with the known and projected future impacts of COVID-19. The Company's actual results could differ materially from those estimates. 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, 2019 (the “2019 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 2019 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 Generally, the Company’s revenue contract with a customer exists when goods are shipped, and services (if any) 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 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, less 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 performance conditions are based on the Company's achievement of revenue growth and return on invested capital over the performance period, and are evaluated for the probability of vesting at each reporting period end with changes in expected results recognized as an adjustment to expense. 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 expectations. 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 March 31, 2020 and 2019 , 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 March 31, 2020 and 2019 was $0.1 million and $0.2 million , respectively. The carrying amounts of trade accounts receivable, accounts payable, accrued liabilities and long-term debt approximate fair value due to the short-term nature of these instruments. The fair value of the Company’s contingent consideration related to acquisitions and equity investment are 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. Accounting Standards - Recently 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. The Company adopted ASU 2016-13 prospectively on January 1, 2020. Historically, the Company's actual credit losses have not been material. The Company's financial assets in the scope of ASU 2016-13 mainly consist of short-term trade receivables. In estimating expected credit loss, we are using the aging method, such as pooling receivable based on the levels of delinquency and applying historical loss rates, adjusted for current conditions and reasonable and supportable forecasts, to each pool. The Company will regularly reassess the customer group by using its best judgment when considering changes in customers' credit ratings, customers' historical payments and loss experience, current market and economic conditions, and the Company's expectations of future market and economic conditions. Adoption of ASU 2016-13 had no material effect on the Company's consolidated financial statements and footnote disclosures. All other issued and effective accounting standards during the first quarter of 2020

Revenue from Contract with Cust

Revenue from Contract with Customer Revenue from Contract with Customer	3 Months Ended
	Mar. 31, 2020
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 86% and 84% of total net sales in the three months ended March 31, 2020 and 2019 , respectively. Concrete Construction Products Revenue. Concrete construction products represented 14% and 16% of total net sales in the three months ended March 31, 2020 and 2019 , 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 by transferring control over a product to a customer at a point in time. 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 within the context of the contract. 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 relative 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 March 31, 2020 , the Company had no contract assets or contract liabilities from contracts with customers .

Net income Per Share (Notes)

Net income Per Share (Notes)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019 , respectively: Three Months Ended (in thousands, except per share amounts) 2020 2019 Net income available to common stockholders $ 36,826 $ 22,662 Basic weighted-average shares outstanding 44,099 44,874 Dilutive effect of potential common stock equivalents — restricted stock units 187 339 Diluted weighted-average shares outstanding 44,286 45,213 Net income per common share: Basic $ 0.84 $ 0.51 Diluted $ 0.83 $ 0.50

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity	4. Stockholders' Equity Share Repurchases During the first quarter of 2020, the Company repurchased 902,340 shares of the Company's common stock in the open market at an average price of $69.46 per share, for a total of $62.7 million . As of March 31, 2020 , approximately $37.3 million remains available for repurchase under the previously announced $100.0 million share repurchase authorization (which expires at the end of 2020).

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
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 $0.3 million and $4.1 million for the three months ended March 31, 2020 and 2019 , respectively. The $3.8 million decrease in stock-based compensation expense was due to the reevaluation of the expected performance conditions and updated expected vesting during the first quarter of 2020. During the three months ended March 31, 2020 , the Company granted 157,712 restricted stock units ("RSUs") to the Company's employees, including officers at an estimated weighted average fair value of $75.86 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 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-based RSUs that are granted to the Company's employees excluding officers and certain key employees, vest ratably over the four year vesting-term of the award. The Company’s seven non-employee directors are entitled to receive approximately $690 thousand in equity compensation annually. The number of shares ultimately granted are based on the average closing share price for the Company over the 60 day period prior to approval of the award in April of each year. In April 2020, the Company granted 9,239 shares of common stock to the Company's non-employee directors, based on the average closing price of $74.66 per share. The Company recognized expense on these shares at an estimated fair value of $58.72 per share based on the closing price of the Company's common stock on the grant date, for a total expense of $543 thousand . As of March 31, 2020 , the Company's aggregate unamortized stock compensation expense was approximately $8.9 million , which is entirely attributable to unvested RSUs and is expected to be recognized in expense over a weighted-average period of 2.7

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Trade Accounts Receivable, Net	Trade Accounts Receivable, Net Trade accounts receivable at the dates indicated consisted of the following: At March 31, At December 31, (in thousands) 2020 2019 2019 Trade accounts receivable $ 174,853 $ 176,896 $ 144,729 Allowance for doubtful accounts (2,761 ) (1,195 ) (1,935 ) Allowance for sales discounts and returns (3,356 ) (2,561 ) (3,430 ) $ 168,736 $ 173,140 $ 139,364

Inventories

Inventories	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at the dates indicated consisted of the following: At March 31, At December 31, (in thousands) 2020 2019 2019 Raw materials $ 89,903 $ 91,850 $ 95,575 In-process products 19,464 24,690 23,672 Finished products 146,353 155,919 132,660 $ 255,720 $ 272,459 $ 251,907

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Mar. 31, 2020
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 March 31, At December 31, (in thousands) 2020 2019 2019 Land $ 27,964 $ 29,251 $ 28,092 Buildings and site improvements 193,971 196,848 195,210 Leasehold improvements 4,832 4,831 4,911 Machinery, equipment, and software 354,931 335,906 351,379 581,698 566,836 579,592 Less accumulated depreciation and amortization (351,776 ) (326,181 ) (346,594 ) 229,922 240,655 232,998 Capital projects in progress 17,019 10,743 16,014 $ 246,941 $ 251,398 $ 249,012

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2020
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 March 31, At December 31, (in thousands) 2020 2019 2019 North America $ 95,988 $ 96,491 $ 96,244 Europe 34,445 33,867 34,300 Asia/Pacific 1,166 1,354 1,335 Total $ 131,599 $ 131,712 $ 131,879 Intangible assets, net, at the dates indicated were as follows: At March 31, 2020 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 33,755 $ (20,039 ) $ 13,716 Europe 25,410 (15,672 ) 9,738 Total $ 59,165 $ (35,711 ) $ 23,454 At March 31, 2019 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,824 $ (16,795 ) $ 14,029 Europe 23,435 (13,316 ) 10,119 Total $ 54,259 $ (30,111 ) $ 24,148 At December 31, 2019 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 33,756 $ (19,173 ) $ 14,583 Europe 25,500 (15,012 ) 10,488 Total $ 59,256 $ (34,185 ) $ 25,071 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 $1.5 million and $1.3 million for each of the three-month periods ended March 31, 2020 and 2019 , respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 5.7 years. The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at March 31, 2020 . At March 31, 2020 , the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining nine months of 2020 $ 4,441 2021 5,370 2022 3,437 2023 2,611 2024 1,660 2025 1,315 Thereafter 4,004 $ 22,838 The changes in the carrying amount of goodwill and intangible assets for the three months ended March 31, 2020 , were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2019 $ 131,879 $ 25,071 Amortization — (1,526 ) Foreign exchange (280 ) (91 ) Balance at March 31, 2020 $ 131,599 $ 23,454

Leases Leases

Leases Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	10. Leases Operating Lease and Finance Obligations The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2024, 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. Finance Lease Obligations The Company has finance leases for data centers and certain office equipment, which was recorded in fixed assets as capital lease obligations. These finance lease obligations are included in current liabilities and other long-term liabilities in the accompanying consolidated balance sheets. The interest rates for these two capital leases are 2.89% and 3.50% , respectively, and the two leases will mature in May 2021 and July 2021, respectively. 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 March 31, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item March 31, (in thousands) 2020 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 33,725 34,324 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,603 6,256 Operating - noncurrent Operating lease liabilities 26,084 28,878 Total operating lease liabilities $ 33,687 35,134 — Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,566 3,569 Accumulated amortization Property, plant and equipment, net (2,903 ) (2,255 ) Property and equipment, net Property, plant and equipment, net $ 663 1,314 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,125 1,098 Other long-term liabilities Deferred income tax and other long-term liabilities 6 1,319 Total finance lease liabilities $ 1,131 2,417 The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended March 31, (in thousands) 2020 2019 Operating lease cost General administrative expenses and cost of sales $ 2,492 $ 2,191 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 218 Interest on lease liabilities Interest expense, net 11 20 Total finance lease $ 229 $ 238 Other information Supplemental cash flow information related to leases as follows: Three Months Ended March 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,418 $ 2,087 Finance cash flows for finance leases 290 270 Operating right-of-use assets obtained in exchange for lease obligations during the current period 2,068 407 The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020 : (in thousands) Operating Leases Finance Leases Remaining nine months of 2020 $ 7,200 $ 870 2021 8,477 285 2022 6,392 — 2023 4,358 — 2024 2,458 — Thereafter 11,282 — Total lease payments 40,167 1,155 Less: Present value discount (6,480 ) (24 ) Total lease liabilities $ 33,687 $ 1,131 The following table summarizes the Company's lease terms and discount rates as of March 31, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 6.38 7.21 Finance leases 1.19 2.18 Weighted-average discount rate: Operating leases 5.36 % 5.37 % Finance leases 3.24 % 3.22 %
Leases	Leases Operating Lease and Finance Obligations The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2024, 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. Finance Lease Obligations The Company has finance leases for data centers and certain office equipment, which was recorded in fixed assets as capital lease obligations. These finance lease obligations are included in current liabilities and other long-term liabilities in the accompanying consolidated balance sheets. The interest rates for these two capital leases are 2.89% and 3.50% , respectively, and the two leases will mature in May 2021 and July 2021, respectively. 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 March 31, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item March 31, (in thousands) 2020 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 33,725 34,324 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,603 6,256 Operating - noncurrent Operating lease liabilities 26,084 28,878 Total operating lease liabilities $ 33,687 35,134 — Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,566 3,569 Accumulated amortization Property, plant and equipment, net (2,903 ) (2,255 ) Property and equipment, net Property, plant and equipment, net $ 663 1,314 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,125 1,098 Other long-term liabilities Deferred income tax and other long-term liabilities 6 1,319 Total finance lease liabilities $ 1,131 2,417 The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended March 31, (in thousands) 2020 2019 Operating lease cost General administrative expenses and cost of sales $ 2,492 $ 2,191 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 218 Interest on lease liabilities Interest expense, net 11 20 Total finance lease $ 229 $ 238 Other information Supplemental cash flow information related to leases as follows: Three Months Ended March 31, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,418 $ 2,087 Finance cash flows for finance leases 290 270 Operating right-of-use assets obtained in exchange for lease obligations during the current period 2,068 407 The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020 : (in thousands) Operating Leases Finance Leases Remaining nine months of 2020 $ 7,200 $ 870 2021 8,477 285 2022 6,392 — 2023 4,358 — 2024 2,458 — Thereafter 11,282 — Total lease payments 40,167 1,155 Less: Present value discount (6,480 ) (24 ) Total lease liabilities $ 33,687 $ 1,131 The following table summarizes the Company's lease terms and discount rates as of March 31, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 6.38 7.21 Finance leases 1.19 2.18 Weighted-average discount rate: Operating leases 5.36 % 5.37 % Finance leases 3.24 % 3.22 %

Debt Debt

Debt Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt The Company is a borrower, and certain of its domestic subsidiaries are guarantors under a credit agreement, which provides the Company with $304.0 million in revolving credit lines and an irrevocable standby letter of credit in support of various insurance deductibles. As previously disclosed, the Company's primary credit facility is the $300.0 million revolving line of credit (the “Credit Facility”). In March 2020, the Company elected to draw down $150.0 million from the Credit Facility to increase its cash position and preserve financial flexibility in light of current uncertainty resulting from the COVID-19 outbreak. Total available credit as of March 31, 2020 , was $153.8 million, including the Credit Facility and other revolving credit lines. The Company had $0.2 million and $0.7 million outstanding balance under other revolving credit lines, as of March 31, 2020 , and December 31, 2019 , respectively, and had $1.5 million outstanding balance as of March 31, 2019. The Company was in compliance with its financial covenants at March 31, 2020 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Environmental The Company’s policy with regard to environmental liabilities is to accrue for future environmental assessments and remediation costs when information becomes available that indicates that it is probable that the Company is liable for any related claims and assessments and the amount of the liability is reasonably estimable. The Company does not believe that any such matters will have a material adverse effect on the Company’s financial condition, cash flows or results of operations. Litigation and Potential Claims From time to time, the Company is involved in various legal proceedings and other matters arising in the normal course of business. Corrosion, hydrogen embrittlement, cracking, material hardness, wood pressure-treating chemicals, misinstallations, misuse, design and assembly flaws, manufacturing defects, labeling defects, product formula defects, inaccurate chemical mixes, adulteration, environmental conditions, or other factors can contribute to failure of fasteners, connectors, anchors, adhesives, specialty chemicals, such as fiber reinforced polymers, and tool products. In addition, inaccuracies may occur in product information, descriptions and instructions found in catalogs, packaging, data sheets, and the Company’s website. The resolution of any claim or litigation is subject to inherent uncertainty and could have a material adverse effect on the Company’s financial condition, cash flows or results of operations. Gentry Homes, Ltd. v. Simpson Strong-Tie Company Inc., et al. , Case No. 17-cv-00566, was filed in a federal district court in Hawaii against Simpson Strong-Tie Company Inc. and the Company on November 20, 2017. The Gentry case is a product of a previous state court class action, Nishimura v. Gentry Homes, Ltd., et al. , Civil No. 11-1-1522-07, which is now closed. The Nishimura case concerned alleged corrosion of the Company’s galvanized “hurricane straps” and mudsill anchor products used in a residential project in Ewa by Gentry, Honolulu, Hawaii. In the Nishimura case, the plaintiff homeowners and the developer, Gentry Homes, Ltd. (“Gentry”), arbitrated their dispute and agreed on a settlement in the amount of approximately $90 million . In the subsequent Gentry case, Gentry alleges breach of warranty and negligent misrepresentation by the Company related to its “hurricane strap” and mudsill anchor products, and demands 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. The Company admits no liability and will vigorously defend the claims brought against it. At this time, the Company cannot reasonably ascertain the likelihood that it will be found responsible for substantial damages to Gentry. Based on the facts currently known, and subject to future events and circumstances, the Company believes that all or part of the claims brought against it in the Gentry case may be covered by its insurance policies. Given the nature and the complexities involved in the Gentry proceeding, the Company is unable to estimate reasonably the likelihood of possible loss or a range of possible loss until the Company knows, among other factors, (i) the specific claims brought against the Company and the legal theories on which they are based; (ii) what claims, if any, might be dismissed without trial; (iii) how the discovery process will affect the litigation; (iv) the settlement posture of the other parties to the litigation; (v) the damages to be proven at trial, particularly if the damages are not specified or are indeterminate; (vi) the extent to which the Company’s insurance policies will cover the claims or any part thereof, if at all; and (vii) any other factors that may have a material effect on the proceeding.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
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 March 31, (in thousands) 2020 2019 Net Sales North America $ 249,050 $ 221,431 Europe 32,732 35,780 Asia/Pacific 1,886 2,033 Total $ 283,668 $ 259,244 Sales to Other Segments* North America $ 640 $ 341 Europe 1,254 458 Asia/Pacific 4,813 6,396 Total $ 6,707 $ 7,195 Income (Loss) from Operations North America $ 53,561 $ 32,814 Europe (1,670 ) (384 ) Asia/Pacific (604 ) (542 ) Administrative and all other (1,937 ) (1,865 ) Total $ 49,350 $ 30,023 * Sales to other segments are eliminated in consolidation. At At March 31, December 31, (in thousands) 2020 2019 2019 Total Assets North America $ 1,153,775 $ 1,155,633 $ 1,269,545 Europe 163,476 167,769 169,785 Asia/Pacific 27,919 27,131 30,055 Administrative and all other (146,922 ) (320,181 ) (374,019 ) Total $ 1,198,248 $ 1,030,352 $ 1,095,366 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 $248.7 million , $76.0 million , and $161.4 million , as of March 31, 2020 and 2019 , and December 31, 2019 , 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 March 31, (in thousands) 2020 2019 Wood construction products $ 242,520 $ 217,613 Concrete construction products 41,012 41,577 Other 136 54 Total $ 283,668 $ 259,244 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. No customer accounted for as much as 10% of net sales for the three months ended March 31, 2020 . The Company’s largest customer for three months ended March 31, 2019 accounted for 10.6% of net sales, which was attributable mostly to the North America segment.

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In March 2020, the World Health Organization categorized coronavirus disease 2019 (COVID-19) as a pandemic, and the President of the United States declared the COVID-19 outbreak a national emergency. COVID-19 continues to spread throughout the United States and other countries across the world, and the duration and severity of its effects are currently unknown. While the response to the COVID-19 outbreak continues to rapidly evolve, it has led to stay-at-home orders and social distancing guidelines that have seriously disrupted activities in large segments of the economy. As of the date of issuance of the financial statements, April 2020 sales decreased approximately 15.0% percent compared to March 2020 sales, driven by the COVID-19 related economic slowdown. The Company considers the outbreak of COVID-19 as a nonrecognized subsequent event in accordance with accounting standards codification Topic 855, Subsequent Events , requiring disclosure in these unaudited condensed consolidated financial Statements. The Company’s consolidated financial statements presented herein reflect estimates and assumptions made by management that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. We are mitigating negative impacts to our operating results by taking significant actions, including postponing non-essential capital expenditures, reducing operating costs, modulating production in line with demand, and substantially reducing discretionary spending. These countermeasures are expected to partially mitigate the impacts of COVID-19 on the Company's full-year 2020 financial results. As the impact of the COVID-19 pandemic on the economy and the Company's operations evolves, the Company will continue to assess the impact on the Company's operations and respond accordingly. On April 23, 2020 , 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 July 23, 2020 , to the Company's stockholders of record on July 2, 2020

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
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, 2019 (the “2019 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 2019 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 goods are shipped, and services (if any) 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 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, less 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 March 31, 2020 and 2019 , 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 March 31, 2020 and 2019 was $0.1 million and $0.2 million , respectively. The carrying amounts of trade accounts receivable, accounts payable, accrued liabilities and long-term debt approximate fair value due to the short-term nature of these instruments. The fair value of the Company’s contingent consideration related to acquisitions and equity investment are 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.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Accounting Standards - Recently 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. The Company adopted ASU 2016-13 prospectively on January 1, 2020. Historically, the Company's actual credit losses have not been material. The Company's financial assets in the scope of ASU 2016-13 mainly consist of short-term trade receivables. In estimating expected credit loss, we are using the aging method, such as pooling receivable based on the levels of delinquency and applying historical loss rates, adjusted for current conditions and reasonable and supportable forecasts, to each pool. The Company will regularly reassess the customer group by using its best judgment when considering changes in customers' credit ratings, customers' historical payments and loss experience, current market and economic conditions, and the Company's expectations of future market and economic conditions. Adoption of ASU 2016-13 had no material effect on the Company's consolidated financial statements and footnote disclosures. All other issued and effective accounting standards during the first quarter of 2020 were determined to be not relevant or material to the Company.

Net income Per Share (Tables)

Net income Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019 , respectively: Three Months Ended (in thousands, except per share amounts) 2020 2019 Net income available to common stockholders $ 36,826 $ 22,662 Basic weighted-average shares outstanding 44,099 44,874 Dilutive effect of potential common stock equivalents — restricted stock units 187 339 Diluted weighted-average shares outstanding 44,286 45,213 Net income per common share: Basic $ 0.84 $ 0.51 Diluted $ 0.83 $ 0.50

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Schedule of trade accounts receivable, net	Trade accounts receivable at the dates indicated consisted of the following: At March 31, At December 31, (in thousands) 2020 2019 2019 Trade accounts receivable $ 174,853 $ 176,896 $ 144,729 Allowance for doubtful accounts (2,761 ) (1,195 ) (1,935 ) Allowance for sales discounts and returns (3,356 ) (2,561 ) (3,430 ) $ 168,736 $ 173,140 $ 139,364

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of carrying values of inventories	Inventories at the dates indicated consisted of the following: At March 31, At December 31, (in thousands) 2020 2019 2019 Raw materials $ 89,903 $ 91,850 $ 95,575 In-process products 19,464 24,690 23,672 Finished products 146,353 155,919 132,660 $ 255,720 $ 272,459 $ 251,907

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, At December 31, (in thousands) 2020 2019 2019 Land $ 27,964 $ 29,251 $ 28,092 Buildings and site improvements 193,971 196,848 195,210 Leasehold improvements 4,832 4,831 4,911 Machinery, equipment, and software 354,931 335,906 351,379 581,698 566,836 579,592 Less accumulated depreciation and amortization (351,776 ) (326,181 ) (346,594 ) 229,922 240,655 232,998 Capital projects in progress 17,019 10,743 16,014 $ 246,941 $ 251,398 $ 249,012

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill, by segment	Goodwill at the dates indicated was as follows: At March 31, At December 31, (in thousands) 2020 2019 2019 North America $ 95,988 $ 96,491 $ 96,244 Europe 34,445 33,867 34,300 Asia/Pacific 1,166 1,354 1,335 Total $ 131,599 $ 131,712 $ 131,879
Schedule of net intangible assets, by segment	Intangible assets, net, at the dates indicated were as follows: At March 31, 2020 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 33,755 $ (20,039 ) $ 13,716 Europe 25,410 (15,672 ) 9,738 Total $ 59,165 $ (35,711 ) $ 23,454 At March 31, 2019 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 30,824 $ (16,795 ) $ 14,029 Europe 23,435 (13,316 ) 10,119 Total $ 54,259 $ (30,111 ) $ 24,148 At December 31, 2019 Gross Net (in thousands) Carrying Amount Accumulated Amortization Carrying Amount North America $ 33,756 $ (19,173 ) $ 14,583 Europe 25,500 (15,012 ) 10,488 Total $ 59,256 $ (34,185 ) $ 25,071
Schedule of estimated future amortization of intangible assets	At March 31, 2020 , the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining nine months of 2020 $ 4,441 2021 5,370 2022 3,437 2023 2,611 2024 1,660 2025 1,315 Thereafter 4,004 $ 22,838
Changes in the carrying amount of goodwill and intangible assets	The changes in the carrying amount of goodwill and intangible assets for the three months ended March 31, 2020 , were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2019 $ 131,879 $ 25,071 Amortization — (1,526 ) Foreign exchange (280 ) (91 ) Balance at March 31, 2020 $ 131,599 $ 23,454

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item March 31, (in thousands) 2020 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 33,725 34,324 Liabilities Operating - current Accrued expenses and other current liabilities $ 7,603 6,256 Operating - noncurrent Operating lease liabilities 26,084 28,878 Total operating lease liabilities $ 33,687 35,134 — Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,566 3,569 Accumulated amortization Property, plant and equipment, net (2,903 ) (2,255 ) Property and equipment, net Property, plant and equipment, net $ 663 1,314 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 1,125 1,098 Other long-term liabilities Deferred income tax and other long-term liabilities 6 1,319 Total finance lease liabilities $ 1,131 2,417
Lease, Cost	The following table summarizes the Company's lease terms and discount rates as of March 31, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 6.38 7.21 Finance leases 1.19 2.18 Weighted-average discount rate: Operating leases 5.36 % 5.37 % Finance leases 3.24 % 3.22 % The components of lease expense were as follows: Condensed Consolidated Statements of Operations Line Item Three Months Ended March 31, (in thousands) 2020 2019 Operating lease cost General administrative expenses and cost of sales $ 2,492 $ 2,191 Finance lease cost: Amortization of right-of-use assets General administrative expenses $ 218 $ 218 Interest on lease liabilities Interest expense, net 11 20 Total finance lease $ 229 $ 238
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020 : (in thousands) Operating Leases Finance Leases Remaining nine months of 2020 $ 7,200 $ 870 2021 8,477 285 2022 6,392 — 2023 4,358 — 2024 2,458 — Thereafter 11,282 — Total lease payments 40,167 1,155 Less: Present value discount (6,480 ) (24 ) Total lease liabilities $ 33,687 $ 1,131
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020 : (in thousands) Operating Leases Finance Leases Remaining nine months of 2020 $ 7,200 $ 870 2021 8,477 285 2022 6,392 — 2023 4,358 — 2024 2,458 — Thereafter 11,282 — Total lease payments 40,167 1,155 Less: Present value discount (6,480 ) (24 ) Total lease liabilities $ 33,687 $ 1,131

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, (in thousands) 2020 2019 Net Sales North America $ 249,050 $ 221,431 Europe 32,732 35,780 Asia/Pacific 1,886 2,033 Total $ 283,668 $ 259,244 Sales to Other Segments* North America $ 640 $ 341 Europe 1,254 458 Asia/Pacific 4,813 6,396 Total $ 6,707 $ 7,195 Income (Loss) from Operations North America $ 53,561 $ 32,814 Europe (1,670 ) (384 ) Asia/Pacific (604 ) (542 ) Administrative and all other (1,937 ) (1,865 ) Total $ 49,350 $ 30,023 * Sales to other segments are eliminated in consolidation. At At March 31, December 31, (in thousands) 2020 2019 2019 Total Assets North America $ 1,153,775 $ 1,155,633 $ 1,269,545 Europe 163,476 167,769 169,785 Asia/Pacific 27,919 27,131 30,055 Administrative and all other (146,922 ) (320,181 ) (374,019 ) Total $ 1,198,248 $ 1,030,352 $ 1,095,366
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 March 31, (in thousands) 2020 2019 Wood construction products $ 242,520 $ 217,613 Concrete construction products 41,012 41,577 Other 136 54 Total $ 283,668 $ 259,244

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2020
Maximum [Member]
Stock-Based Compensation
Vesting period	4 years

Basis of Presentation - Recentl

Basis of Presentation - Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right-of-use assets	$ 33,725	$ 35,436	$ 34,324
Total lease liabilities	$ 33,687		$ 35,134

Basis of Presentation Fair valu

Basis of Presentation Fair value of financial instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Money Market Funds, at Carrying Value	$ 0.1	$ 0.2

Revenue from Contract with Cu_2

Revenue from Contract with Customer (Details) - ASC 606	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Wood construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	86.00%	84.00%
Concrete construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	14.00%	16.00%
Other
Disaggregation of Revenue [Line Items]
Percentage of net sales	1.00%

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		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Reconciliation of basic earnings per share ("EPS") to diluted EPS
Net income available to common stockholders	$ 36,826	$ 22,662	$ 111,320
Basic weighted-average shares outstanding	44,099	44,874
Dilutive effect of potential common stock equivalents — restricted stock units	187	339
Diluted weighted-average shares outstanding	44,286	45,213
Earnings per common share:
Basic	$ 0.84	$ 0.51
Diluted	$ 0.83	$ 0.50

Stockholders' Equity Shares Rep

Stockholders' Equity Shares Repurchases (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 01, 2018
Equity, Class of Treasury Stock [Line Items]
Stock Repurchased During Period, Shares	902,340
Treasury Stock Acquired, Average Cost Per Share	$ 69.46
Treasury Stock, Value, Acquired, Par Value Method	$ 62.7
2018 Stock Repurchase Program [Member] [Member]
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 37.3	$ 100

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	Feb. 15, 2018$ / shares	Apr. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)director$ / sharesshares	Mar. 31, 2019USD ($)
Stock-Based Compensation
Stock-based compensation expense			$ 300	$ 4,100
Increase (Decrease) Share-based Payment Arrangement, Expense			3,800
Unrecognized compensation costs related to unvested share-based compensation arrangements			$ 8,900
Weighted-average period for recognition of unrecognized stock-based compensation expense			2 years 8 months 12 days
Restricted Stock Units
Stock-Based Compensation
Awarded (in shares) | shares			157,712
Weighted average granted date fair value (in dollars per share) | $ / shares	$ 75.86		$ 74.66
Vesting period	3 years
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | shares			9,239
Restricted Stock Units | Subsequent Event
Stock-Based Compensation
Stock-based compensation expense		$ 543
Weighted average granted date fair value (in dollars per share) | $ / shares		$ 58.72
Employees | Restricted Stock Units
Stock-Based Compensation
Vesting period	4 years
Director [Member] | Restricted Stock Units
Stock-Based Compensation
Number Of Directors | director			7
Share-based Goods and Nonemployee Services Transaction, Stockholders' Equity			$ 690

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Receivables [Abstract]
Trade accounts receivable	$ 174,853	$ 144,729	$ 176,896
Allowance for doubtful accounts	(2,761)	(1,935)	(1,195)
Allowance for sales discounts and returns	(3,356)	(3,430)	(2,561)
Trade accounts receivable, net	$ 168,736	$ 139,364	$ 173,140

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 89,903	$ 95,575	$ 91,850
In-process products	19,464	23,672	24,690
Finished products	146,353	132,660	155,919
Total inventories	$ 255,720	$ 251,907	$ 272,459

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Property, Plant and Equipment
Property, plant and equipment, gross	$ 581,698	$ 579,592	$ 566,836
Less accumulated depreciation and amortization	(351,776)	(346,594)	(326,181)
Property, plant and equipment excluding capital projects in progress, net	229,922	232,998	240,655
Capital projects in progress	17,019	16,014	10,743
Property, plant and equipment, net	246,941	249,012	251,398
Land
Property, Plant and Equipment
Property, plant and equipment, gross	27,964	28,092	29,251
Buildings and site improvements
Property, Plant and Equipment
Property, plant and equipment, gross	193,971	195,210	196,848
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	4,832	4,911	4,831
Machinery, equipment, and software
Property, Plant and Equipment
Property, plant and equipment, gross	$ 354,931	$ 351,379	$ 335,906

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net, Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Carrying amount of goodwill by reportable segment
Goodwill	$ 131,599	$ 131,879	$ 131,712
North America
Carrying amount of goodwill by reportable segment
Goodwill	95,988	96,244	96,491
Europe
Carrying amount of goodwill by reportable segment
Goodwill	34,445	34,300	33,867
Asia/Pacific
Carrying amount of goodwill by reportable segment
Goodwill	$ 1,166	$ 1,335	$ 1,354

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net, Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,526	$ 1,300
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years 8 months 12 days
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	$ 59,165	54,259	$ 59,256
Accumulated amortization	(35,711)	(30,111)	(34,185)
Net carrying amount	23,454	24,148	25,071
North America
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	33,755	30,824	33,756
Accumulated amortization	(20,039)	(16,795)	(19,173)
Net carrying amount	13,716	14,029	14,583
Europe
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	25,410	23,435	25,500
Accumulated amortization	(15,672)	(13,316)	(15,012)
Net carrying amount	$ 9,738	$ 10,119	$ 10,488

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangibles	$ 1,526	$ 1,300
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 600

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net, Estimated Future Amortization (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years 8 months 12 days
Remaining nine months of 2020	$ 4,441
2019	5,370
2020	3,437
2021	2,611
2022	1,660
2023	1,315
Thereafter	4,004
Total	$ 22,838

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets, Net, Carrying Amount of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill
Balance at the beginning of the period	$ 131,879
Foreign exchange	(280)
Balance at the end of the period	131,599	$ 131,712
Intangible Assets
Balance at the beginning of the period	25,071
Amortization	(1,526)	(1,300)
Foreign exchange	(91)
Balance at the end of the period	$ 23,454	$ 24,148

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Total finance lease liabilities	$ 1,131	$ 2,417
Option to extend term	5 years
Minimum | Cisco Systems Capital Corporation [Member]
Lessee, Lease, Description [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.89%
Maximum [Member] | Cisco Systems Capital Corporation [Member]
Lessee, Lease, Description [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.50%

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 33,725	$ 35,436	$ 34,324
Operating - current	7,603		6,256
Operating - noncurrent	26,084	$ 27,930	28,878
Total operating lease liabilities	33,687		35,134
Property and equipment, gross	3,566		3,569
Accumulated amortization	(2,903)		(2,255)
Property and equipment, net	663		1,314
Other current liabilities	1,125		1,098
Other long-term liabilities	6		1,319
Total finance lease liabilities	$ 1,131		$ 2,417

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 2,492	$ 2,191
Amortization of right-of-use assets	218	218
Interest on lease liabilities	11	20
Total finance lease	$ 229	$ 238

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lease, Cost [Abstract]
Operating cash flows for operating leases	$ 2,418	$ 2,087
Finance cash flows for finance leases	290	270
Operating right-of-use assets obtained in exchange for lease obligations during the current period	$ 2,068	$ 407

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining nine months of 2020	$ 7,200
2020	8,477
2021	6,392
2022	4,358
2023	2,458
Thereafter	11,282
Total lease payments	40,167
Less: Present value discount	(6,480)
Total lease liabilities	33,687	$ 35,134
Finance Leases
Remaining nine months of 2020	870
2020	285
2021	0
2022	0
2023	0
Thereafter	0
Total lease payments	1,155
Less: Present value discount	(24)
Total finance lease liabilities	$ 1,131	$ 2,417

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 4 months 17 days	7 years 2 months 15 days
Finance Lease, Weighted Average Remaining Lease Term	1 year 2 months 8 days	2 years 2 months 4 days
Operating Lease, Weighted Average Discount Rate, Percent	5.36%	5.37%
Finance Lease, Weighted Average Discount Rate, Percent	3.24%	3.22%

Debt (Details)

Debt (Details) - USD ($)	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Line of Credit
Debt
Credit facility, total available credit	$ 304,000,000
Revolving Credit Facility
Debt
Line of credit and notes payable	200,000	$ 700,000	$ 1,500,000
Revolving Credit Facility | Credit Facility
Debt
Credit facility, total available credit	150,000,000
Maximum borrowing capacity		$ 300,000,000
Remaining borrowing capacity	$ 153,800,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Nov. 20, 2017USD ($)
Nishimura v. Gentry Homes, Ltd
Loss Contingencies [Line Items]
Settlement amount	$ 90

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Information
Net sales	$ 283,668	$ 259,244
Income (Loss) from Operations	49,350	30,023
Total Assets	1,198,248	1,030,352	$ 1,095,366
Cash and cash equivalent	301,741	113,407	230,210
Intersegment elimination
Segment Information
Net sales	6,707	7,195
Administrative and all other
Segment Information
Income (Loss) from Operations	(1,937)	(1,865)
Total Assets	(146,922)	(320,181)	(374,019)
Cash and cash equivalent	248,700	76,000	161,400
North America
Segment Information
Net sales	249,050	221,431
Income (Loss) from Operations	53,561	32,814
Total Assets	1,153,775	1,155,633	1,269,545
North America | Intersegment elimination
Segment Information
Net sales	640	341
Europe
Segment Information
Net sales	32,732	35,780
Income (Loss) from Operations	(1,670)	(384)
Total Assets	163,476	167,769	169,785
Europe | Intersegment elimination
Segment Information
Net sales	1,254	458
Asia/Pacific
Segment Information
Net sales	1,886	2,033
Income (Loss) from Operations	(604)	(542)
Total Assets	27,919	27,131	$ 30,055
Asia/Pacific | Intersegment elimination
Segment Information
Net sales	$ 4,813	$ 6,396

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net sales and long-lived assets by geographical area
Net sales	$ 283,668	$ 259,244
Wood construction products
Net sales and long-lived assets by geographical area
Net sales	242,520	217,613
Concrete construction products
Net sales and long-lived assets by geographical area
Net sales	41,012	41,577
Other
Net sales and long-lived assets by geographical area
Net sales	136	54
North America
Net sales and long-lived assets by geographical area
Net sales	$ 249,050	$ 221,431

Segment Information (Narrative)

Segment Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Concentration Risk [Line Items]
Cash and cash equivalents	$ 301,741	$ 230,210	$ 113,407
Administrative and all other
Concentration Risk [Line Items]
Cash and cash equivalents	$ 248,700	$ 161,400	$ 76,000
North America | Geographic | Net Sales
Concentration Risk [Line Items]
Percentage of net sales	10.60%

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 23, 2020	Apr. 30, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)			$ 0.23	$ 0.22	$ 0.69
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.23
Dividends	$ 10.2
COVID-19 | Subsequent Event
Subsequent Event [Line Items]
Decrease in sales		0.15%