Simpson Manufacturing (SSD) 10-Q 6 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Nov. 01, 2020
Cover [Abstract]
Document Type		10-Q
Document Quarterly Report		true
Document Period End Date		Sep. 30, 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			43,421,469
Amendment Flag		false
Document Fiscal Period Focus		Q3
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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Current assets
Cash and cash equivalents	$ 311,465	$ 230,210	$ 194,061
Trade accounts receivable, net	226,447	139,364	180,898
Inventories	260,054	251,907	242,730
Other current assets	22,439	19,426	17,565
Total current assets	820,405	640,907	635,254
Property, plant and equipment, net	246,472	249,012	250,950
Operating lease right-of-use assets	41,453	35,436	34,463
Goodwill	133,734	131,879	131,191
Equity investment	2,475	2,480	2,485
Intangible assets, net	20,964	25,071	21,816
Other noncurrent assets	12,362	10,581	10,149
Total Assets	1,277,865	1,095,366	1,086,308
Current liabilities
Trade accounts payable	42,271	33,351	40,861
Accrued liabilities and other current liabilities	148,890	125,556	125,006
Total current liabilities	191,161	158,907	165,867
Operating lease liabilities	33,354	27,930	27,256
Long term debt, net of current portion	75,000	0	0
Deferred income tax and other long-term liabilities	17,550	16,572	16,238
Total liabilities	317,065	203,409	209,361
Commitments and contingencies (see Note 12)
Stockholders’ equity
Common stock, at par value	444	442	446
Additional paid-in capital	281,134	280,216	278,898
Retained earnings	772,851	645,507	649,053
Treasury stock	(72,058)	(9,379)	(21,437)
Accumulated other comprehensive loss	(21,571)	(24,829)	(30,013)
Total stockholders’ equity	960,800	891,957	876,947
Total liabilities and stockholders’ equity	$ 1,277,865	$ 1,095,366	$ 1,086,308

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 364,304	$ 309,932	$ 974,048	$ 874,029
Cost of sales	191,061	172,288	521,339	491,952
Gross profit	173,243	137,644	452,709	382,077
Operating expenses:
Research and development and other engineering	12,287	11,972	37,860	35,287
Selling	29,396	27,672	84,757	84,471
General and administrative	40,289	37,047	117,396	117,941
Total operating expenses	81,972	76,691	240,013	237,699
Net gain on disposal of assets	(72)	(14)	(209)	(265)
Income from operations	91,343	60,967	212,905	144,643
Interest expense, net and other	(518)	(1,778)	(3,202)	(2,394)
Income before taxes	90,825	59,189	209,703	142,249
Provision for income taxes	23,768	15,503	52,341	36,324
Net income	67,057	43,686	157,362	105,925
Translation adjustment, net of tax	6,238	5,797	3,170	5,825
Unamortized pension adjustments	28	(362)	88	(462)
Comprehensive net income	$ 73,323	$ 49,121	$ 160,620	$ 111,288
Earnings per common share:
Basic	$ 1.54	$ 0.98	$ 3.60	$ 2.37
Diluted	$ 1.54	$ 0.97	$ 3.59	$ 2.35
Number of shares outstanding
Basic	43,474	44,477	43,683	44,673
Diluted	43,683	44,814	43,873	44,995
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.23	$ 0.69	$ 0.68

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 67,057	$ 43,686	$ 157,362	$ 105,925
Other comprehensive income:
Translation adjustment	6,238	5,797	3,170	5,825
Unamortized pension adjustments	(28)	362	(88)	462
Comprehensive net income	$ 73,323	$ 49,121	$ 160,620	$ 111,288

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Translation adjustment, net of tax	$ 6,238	$ 5,797	$ 3,170	$ 5,825

Condensed Consolidated Statem_4

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	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)					(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
Balance at Jun. 30, 2019	868,421	$ 446	277,024	615,529	(24,578)	0
Balance (in shares) at Jun. 30, 2019		44,675
Increase (Decrease) in Stockholders' Equity
Net income	43,686			43,686
Translation adjustment, net of tax	5,797				(5,797)
Pension adjustment, net of tax	362				362
Stock-based compensation	1,880		1,880
Shares issued from release of Restricted Stock Units	(6)		(6)
Shares issued from release of Restricted Stock Units (in shares)		1
Repurchase of common stock	(21,437)					(21,437)
Repurchase of common stock (in shares)		(349)
Cash dividends declared on common stock	(10,162)			10,162
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
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	157,362			157,362
Translation adjustment, net of tax	3,170				3,170
Pension adjustment, net of tax	88				88
Stock-based compensation	8,481		8,481
Shares issued from release of Restricted Stock Units	(7,903)	$ 2	(7,905)
Shares issued from release of Restricted Stock Units (in shares)		165
Repurchase of common stock	(62,679)					(62,679)
Repurchase of common stock (in shares)		(902)
Cash dividends declared on common stock	(30,018)			(30,018)
Common stock issued	342		342
Common stock issued (in shares)		4
Balance at Sep. 30, 2020	960,800	$ 444	281,134	772,851	(21,571)	(72,058)
Balance (in shares) at Sep. 30, 2020		43,476
Balance at Jun. 30, 2020	894,212	$ 444	277,625	716,038	(27,837)	(72,058)
Balance (in shares) at Jun. 30, 2020		43,473
Increase (Decrease) in Stockholders' Equity
Net income	67,057			67,057
Translation adjustment, net of tax	6,238				6,238
Pension adjustment, net of tax	28				28
Stock-based compensation	3,651		3,651
Shares issued from release of Restricted Stock Units	(162)		(162)
Shares issued from release of Restricted Stock Units (in shares)		3
Cash dividends declared on common stock	(10,244)			(10,244)
Common stock issued	20		20
Balance at Sep. 30, 2020	$ 960,800	$ 444	$ 281,134	$ 772,851	$ (21,571)	$ (72,058)
Balance (in shares) at Sep. 30, 2020		43,476

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.23	$ 0.23	$ 0.69
Common stock issued per share for stock bonus (in USD per share)	$ 99.63	$ 54.31	$ 81.30

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Cash Flows [Abstract]
Net income	$ 157,362	$ 105,925
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of assets and other	(204)	(263)
Depreciation and amortization	30,088	29,044
Noncash lease expense	6,246	5,278
Deferred income taxes and other long-term liabilities	1,852	2,262
Noncash compensation related to stock plans	9,459	8,699
Provision of doubtful accounts	23	435
Changes in operating assets and liabilities:
Trade accounts receivable	(87,170)	(36,385)
Inventories	(7,199)	31,163
Trade accounts payable	7,825	8,130
Other current assets	(618)	(3,197)
Accrued liabilities and other current liabilities	21,762	3,452
Other noncurrent assets and liabilities	(9,808)	(5,308)
Net cash provided by operating activities	129,618	149,235
Cash flows from investing activities
Capital expenditures	(20,879)	(24,495)
Asset acquisitions, net of cash acquired	(1,425)	(3,529)
Proceeds from sale of property and equipment	750	2,498
Net cash used in investing activities	(21,554)	(25,526)
Cash flows from financing activities
Repurchase of common stock	(62,679)	(51,437)
Proceeds from lines of credit	164,330	13,308
Repayments of lines of credit and capital leases	(89,347)	(14,335)
Payments of Debt Issuance Costs	(712)	0
Dividends paid	(30,164)	(30,002)
Cash paid on behalf of employees for shares withheld	(7,581)	(5,905)
Net cash used by in financing activities	(26,153)	(88,371)
Effect of exchange rate changes on cash and cash equivalents	(656)	(1,457)
Net increase in cash and cash equivalents	81,255	33,881
Cash and cash equivalents at beginning of period	230,210	160,180
Cash and cash equivalents at end of period	311,465	194,061
Noncash activity during the period
Noncash capital expenditures	778	194
Dividends declared but not paid	10,000	10,162
Issuance of Company’s common stock for compensation	$ 342	$ 292

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 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 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 or as the services are completed. 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. The carrying amounts of trade accounts receivable, accounts payable, accrued liabilities and other current 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 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. The Company does not carry its long-term debt at fair value in its condensed consolidated balance sheets. Derivative Instruments - Foreign Currency Contracts The Company transacts business in various foreign countries and may therefore be exposed to foreign currency exchange rate risk. The Company has established risk management programs to protect against volatility in the value of non-functional future cash flows caused by changes in foreign currency exchange rates and tries to maintain a partial or fully hedged position for certain transaction exposures when management considers appropriate. The Company enters into short-term foreign currency derivatives contracts, namely forward contracts, to hedge only those currency exposures associated with cash flows denominated in non-functional currencies. Gains and losses on the Company's derivative contracts are designed to offset losses and gains on the transactions hedged, and accordingly, generally do not subject the Company to risk of significant accounting losses. The Company hedges committed exposures and does not engage in speculative transactions. The credit risk of these derivative contracts is minimized since the contracts are with a large financial institution and accordingly, fair value adjustments related to the credit risk of the counterparty financial institution are not material. The Company sources certain materials for its concrete products from a wholly owned subsidiary in China, and as a result is exposed to variability in cash outflows associated with changes in the foreign exchange rate between the United States Dollar and the Chinese Yuan (CNY). As of September 30, 2020, the aggregate notional amount of the Company's outstanding foreign currency derivative contracts was to buy CNY 70.3 million by selling $10.1 million throughout fiscal 2021. These forward contracts are accounted for as cash flow hedges under the accounting standards, and fair value is included in other current assets or other current liabilities, as applicable, in the condensed consolidated balance sheets. Net deferred gains and losses on these contracts relating to changes in fair value are included in accumulated other comprehensive loss, a component of shareholders' equity in the condensed consolidated balance sheets, and are reclassified into the line item in the condensed consolidated statement of income in the which the hedged items are recorded in the same period the hedged item affects earnings. Changes in fair value of any forward contracts that are determined to be ineffective are immediately reclassified from other comprehensive income ("OCI") into earnings. The fair value of these foreign currency forward contracts, calculated based on Level 1 inputs, was not material as of September 30, 2020, and amounts deferred in OCI are expected to be recognized as a component of cost of sales in the consolidated statement of operations primarily during 2021. There were no amounts recognized due to ineffectiveness during the three and nine-months ended September 30, 2020 Cash and Cash Equivalents The Company classifies other investments that are highly liquid and have maturities of three months or less at the date of purchase as cash equivalents. As of September 30, 2020 and 2019, the Company’s investments consisted mainly of United States Treasury securities and money market funds, included in cash equivalents 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, 2020 and 2019 was $46.4 million and $0.1 million, respectively. 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 an 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 receivables 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 groups 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.

Revenue from Contract with Cust

Revenue from Contract with Customer Revenue from Contract with Customer	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2020 and 2019, respectively. Concrete Construction Products Revenue. Concrete construction products represented 14% and 16% of total net sales in the nine months ended September 30, 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

Net income Per Share (Notes)

Net income Per Share (Notes)	3 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2020 2019 2020 2019 Net income available to common stockholders $ 67,057 $ 43,686 $ 157,362 $ 105,925 Basic weighted-average shares outstanding 43,474 44,477 43,683 44,673 Dilutive effect of potential common stock equivalents — restricted stock units 209 337 190 322 Diluted weighted-average shares outstanding 43,683 44,814 43,873 44,995 Net income per common share: Basic $ 1.54 $ 0.98 $ 3.60 $ 2.37 Diluted $ 1.54 $ 0.97 $ 3.59 $ 2.35

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Share Repurchases During the nine months ended September 30, 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 September 30, 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). As of September 30, 2020, the Company held 1,020,328 shares of its common stock as treasury shares.

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation	3 Months Ended
	Sep. 30, 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 $4.0 million and $2.1 million for the three months ended September 30, 2020 and 2019, respectively, and $9.5 million and $8.7 million for the nine months ended September 30, 2020 and 2019, respectively. During the nine months ended September 30, 2020, the Company granted 166,951 restricted stock units ("RSUs") to the Company's employees, including officers at an estimated weighted average fair value of $74.91 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 performance-based and/or time-based. Certain 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.

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	3 Months Ended
	Sep. 30, 2020
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) 2020 2019 2019 Trade accounts receivable $ 231,559 $ 186,219 $ 144,729 Allowance for doubtful accounts (2,032) (1,434) (1,935) Allowance for sales discounts and returns (3,080) (3,887) (3,430) $ 226,447 $ 180,898 $ 139,364

Inventories

Inventories	3 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at the dates indicated consisted of the following: At September 30, At December 31, (in thousands) 2020 2019 2019 Raw materials $ 100,198 $ 91,088 $ 95,575 In-process products 21,533 24,554 23,672 Finished products 138,323 127,088 132,660 $ 260,054 $ 242,730 $ 251,907

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Sep. 30, 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 September 30, At December 31, (in thousands) 2020 2019 2019 Land $ 28,287 $ 29,132 $ 28,092 Buildings and site improvements 201,020 197,075 195,210 Leasehold improvements 5,699 4,909 4,911 Machinery, equipment, and software 363,187 345,861 351,379 598,193 576,977 579,592 Less accumulated depreciation and amortization (369,655) (339,920) (346,594) 228,538 237,057 232,998 Capital projects in progress 17,934 13,893 16,014 $ 246,472 $ 250,950 $ 249,012

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Sep. 30, 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 September 30, At December 31, (in thousands) 2020 2019 2019 North America $ 96,161 $ 96,192 $ 96,244 Europe 36,215 33,710 34,300 Asia/Pacific 1,358 1,289 1,335 Total $ 133,734 $ 131,191 $ 131,879 Intangible assets, net, at the dates indicated were as follows: At September 30, 2020 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 33,755 $ (21,761) $ 11,994 Europe 25,930 (16,960) 8,970 Total $ 59,685 $ (38,721) $ 20,964 At September 30, 2019 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 31,305 $ (18,461) $ 12,844 Europe 23,351 (14,379) 8,972 Total $ 54,656 $ (32,840) $ 21,816 At December 31, 2019 Gross Net (in thousands) Carrying Accumulated Carrying 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 $1.7 million and $1.4 million for the three months ended September 30, 2020 and 2019, respectively, and was $4.5 million and $4.1 million for the nine months ended September 30, 2020 and 2019, respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 5.5 years. The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at September 30, 2020. At September 30, 2020, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2020 $ 1,508 2021 5,542 2022 3,483 2023 2,662 2024 1,710 2025 1,462 Thereafter 3,981 $ 20,348 The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2020, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2019 $ 131,879 $ 25,071 Amortization — (4,538) Foreign exchange 1,855 431 Balance at September 30, 2020 $ 133,734 $ 20,964

Leases Leases

Leases Leases	3 Months Ended
	Sep. 30, 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 right-of-use assets ("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 September 30, 2020, 2019 and December 31, 2019, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of the three months and nine months ended September 30, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2020 2019 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 41,453 $ 34,463 $ 35,436 Liabilities Operating - current Accrued expenses and other current liabilities $ 8,443 $ 7,037 $ 7,392 Operating - noncurrent Operating lease liabilities 33,354 27,256 27,930 Total operating lease liabilities $ 41,797 $ 34,293 $ 35,322 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 $ 3,569 $ 3,569 Accumulated amortization Property, plant and equipment, net (3,036) (2,578) (2,739) Property and equipment, net Property, plant and equipment, net $ 533 $ 991 $ 830 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 771 $ 1,116 $ 1,125 Other long-term liabilities Deferred income tax and other long-term liabilities — 764 386 Total finance lease liabilities $ 771 $ 1,880 $ 1,511 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) 2020 2019 2020 2019 Operating lease cost General administrative expenses and $ 2,736 $ 2,379 $ 7,708 $ 6,784 Finance lease cost: Amortization of right-of-use General administrative expenses $ 218 $ 218 $ 654 $ 654 Interest on lease liabilities Interest expense, net 7 16 28 54 Total finance lease $ 225 $ 234 $ 682 $ 708 Other information Supplemental cash flow information related to leases as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,611 $ 2,324 $ 7,395 $ 6,604 Finance cash flows for finance leases 290 290 870 870 Operating right-of-use assets obtained in exchange for lease 7,155 1,616 14,312 3,704 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2020: (in thousands) Finance Leases Operating Leases Remaining three months of 2020 $ 290 $ 2,632 2021 489 10,147 2022 — 7,933 2023 — 5,867 2024 — 4,834 Thereafter — 18,926 Total lease payments 779 50,339 Less: Present value discount (8) (8,542) Total lease liabilities $ 771 $ 41,797 The following table summarizes the Company's lease terms and discount rates as of September 30, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 7.03 6.72 Finance leases 0.71 1.68 Weighted-average discount rate: Operating leases 5.30 % 5.37 % Finance leases 3.27 % 3.23 %
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 right-of-use assets ("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 September 30, 2020, 2019 and December 31, 2019, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of the three months and nine months ended September 30, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2020 2019 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 41,453 $ 34,463 $ 35,436 Liabilities Operating - current Accrued expenses and other current liabilities $ 8,443 $ 7,037 $ 7,392 Operating - noncurrent Operating lease liabilities 33,354 27,256 27,930 Total operating lease liabilities $ 41,797 $ 34,293 $ 35,322 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 $ 3,569 $ 3,569 Accumulated amortization Property, plant and equipment, net (3,036) (2,578) (2,739) Property and equipment, net Property, plant and equipment, net $ 533 $ 991 $ 830 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 771 $ 1,116 $ 1,125 Other long-term liabilities Deferred income tax and other long-term liabilities — 764 386 Total finance lease liabilities $ 771 $ 1,880 $ 1,511 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) 2020 2019 2020 2019 Operating lease cost General administrative expenses and $ 2,736 $ 2,379 $ 7,708 $ 6,784 Finance lease cost: Amortization of right-of-use General administrative expenses $ 218 $ 218 $ 654 $ 654 Interest on lease liabilities Interest expense, net 7 16 28 54 Total finance lease $ 225 $ 234 $ 682 $ 708 Other information Supplemental cash flow information related to leases as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 2,611 $ 2,324 $ 7,395 $ 6,604 Finance cash flows for finance leases 290 290 870 870 Operating right-of-use assets obtained in exchange for lease 7,155 1,616 14,312 3,704 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2020: (in thousands) Finance Leases Operating Leases Remaining three months of 2020 $ 290 $ 2,632 2021 489 10,147 2022 — 7,933 2023 — 5,867 2024 — 4,834 Thereafter — 18,926 Total lease payments 779 50,339 Less: Present value discount (8) (8,542) Total lease liabilities $ 771 $ 41,797 The following table summarizes the Company's lease terms and discount rates as of September 30, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 7.03 6.72 Finance leases 0.71 1.68 Weighted-average discount rate: Operating leases 5.30 % 5.37 % Finance leases 3.27 % 3.23 %

Debt Debt

Debt Debt	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt In May 2020, the Company entered into a third amendment to the unsecured credit agreement dated July 27, 2012 with Wells Fargo Bank, National Association, and certain other institutional lenders that provides for a $300.0 million unsecured revolving credit facility (“Credit Facility”). The Amendment extends the term of the Credit Agreement from July 23, 2021, to July 23, 2022. The Company is required to pay an annual facility fee of 0.20 to 0.35 percent on the available commitments under the Credit Agreement, regardless of usage, with the applicable fee determined on a quarterly basis based on the Company’s leverage ratio. The fee is included within other expense in the Company's condensed consolidated statement of operations. Amounts borrowed under the Credit Agreement will bear interest at an annual rate equal to either, at the Company’s option, (a) the rate for Eurocurrency deposits for the corresponding deposits of U.S. dollars as published by the ICE Benchmark Administration Limited, a United Kingdom company, or a comparable or successor quoting service approved by the Agent (the “LIBOR Rate”), adjusted for any reserve requirement in effect, plus a spread of from 0.80 to 1.65 percent, as determined on a quarterly basis based on the Company’s leverage ratio, or (b) a base rate, plus a spread of 0.20 to 0.65 percent, as determined on a quarterly basis based on the Company’s leverage ratio. In no event shall the LIBOR Rate be less than 0.25 percent. The base rate is defined in a manner such that it will not be less than the LIBOR Rate. The Company will pay fees for standby letters of credit at an annual rate equal to the LIBOR Rate plus the applicable spread described in the preceding clause (a), and will pay market-based fees for commercial letters of credit. The spread applicable to a particular LIBOR Rate loan or base rate loan depends on the consolidated leverage ratio of the Company and its subsidiaries at the time the loan is made. Loans outstanding under the Credit Agreement may be prepaid at any time without penalty except for LIBOR Rate breakage costs and expenses. 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; and subsequently paid down $75.0 million during the third quarter of 2020. "Refer to Note 14 Subsequent Event." As of September 30, 2020, the Company's total available credit was $227.5 million under this Credit Facility and other revolving credit lines. I n addition to the Credit Facility, certain of the Company’s domestic subsidiaries are guarantors for a credit agreement between certain of its foreign subsidiaries and institutional lenders. Together, these credit facilities provide the Company with a total of $303.9 million in revolving credit lines and an irrevocable standby letter of credit in support of various insurance deductibles. The Company was in compliance with its financial covenants at September 30, 2020.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 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
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Net Sales North America $ 316,902 $ 265,505 $ 852,759 $ 746,009 Europe 44,766 42,219 114,877 121,647 Asia/Pacific 2,636 2,208 6,412 6,373 Total $ 364,304 $ 309,932 $ 974,048 $ 874,029 Sales to Other Segments* North America $ 629 $ 520 $ 1,940 $ 1,327 Europe 1,193 479 3,755 1,568 Asia/Pacific 7,240 7,600 17,717 21,272 Total $ 9,062 $ 8,599 $ 23,412 $ 24,167 Income (Loss) from Operations North America $ 87,378 $ 56,844 $ 213,135 $ 139,489 Europe 6,074 5,386 7,100 9,645 Asia/Pacific 519 (481) (160) (837) Administrative and all other (2,628) (782) (7,170) (3,654) Total $ 91,343 $ 60,967 $ 212,905 $ 144,643 * Sales to other segments are eliminated in consolidation. At At September 30, December 31, (in thousands) 2020 2019 2019 Total Assets North America $ 1,524,482 $ 1,246,617 $ 1,269,545 Europe 186,051 169,183 169,785 Asia/Pacific 31,109 28,009 30,055 Administrative and all other (463,777) (357,501) (374,019) Total $ 1,277,865 $ 1,086,308 $ 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 $244.5 million, $135.9 million, and $161.4 million, as of September 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Wood construction products $ 311,167 $ 255,869 $ 834,411 $ 731,898 Concrete construction products 52,983 53,947 139,299 141,883 Other 154 116 338 248 Total $ 364,304 $ 309,932 $ 974,048 $ 874,029 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

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On October 23, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.23 per share, estimated to be $10.0 million in total. The dividend will be payable on January 28, 2021, to the Company's stockholders of record on January 7, 2021. On October 30, 2020, the Company paid down $25.0 million of the $75.0 million outstanding under its Credit Facility as of September 30, 2020.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 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 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
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 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 of Financial Instruments
Derivative Instruments - Foreign Currency Contracts		Derivative Instruments - Foreign Currency Contracts The Company transacts business in various foreign countries and may therefore be exposed to foreign currency exchange rate risk. The Company has established risk management programs to protect against volatility in the value of non-functional future cash flows caused by changes in foreign currency exchange rates and tries to maintain a partial or fully hedged position for certain transaction exposures when management considers appropriate. The Company enters into short-term foreign currency derivatives contracts, namely forward contracts, to hedge only those currency exposures associated with cash flows denominated in non-functional currencies. Gains and losses on the Company's derivative contracts are designed to offset losses and gains on the transactions hedged, and accordingly, generally do not subject the Company to risk of significant accounting losses. The Company hedges committed exposures and does not engage in speculative transactions. The credit risk of these derivative contracts is minimized since the contracts are with a large financial institution and accordingly, fair value adjustments related to the credit risk of the counterparty financial institution are not material. The Company sources certain materials for its concrete products from a wholly owned subsidiary in China, and as a result is exposed to variability in cash outflows associated with changes in the foreign exchange rate between the United States Dollar and the Chinese Yuan (CNY). As of September 30, 2020, the aggregate notional amount of the Company's outstanding foreign currency derivative contracts was to buy CNY 70.3 million by selling $10.1 million throughout fiscal 2021. These forward contracts are accounted for as cash flow hedges under the accounting standards, and fair value is included in other current assets or other current liabilities, as applicable, in the condensed consolidated balance sheets. Net deferred gains and losses on these contracts relating to changes in fair value are included in accumulated other comprehensive loss, a component of shareholders' equity in the condensed consolidated balance sheets, and are reclassified into the line item in the condensed consolidated statement of income in the which the hedged items are recorded in the same period the hedged item affects earnings. Changes in fair value of any forward contracts that are determined to be ineffective are immediately reclassified from other comprehensive income ("OCI") into earnings. The fair value of these foreign currency forward contracts, calculated based on Level 1 inputs, was not material as of September 30, 2020, and amounts deferred in OCI are expected to be recognized as a component of cost of sales in the consolidated statement of operations primarily during 2021. There were no amounts recognized due to ineffectiveness during the three and nine-months ended September 30, 2020
Cash and Cash Equivalents		Cash and Cash Equivalents The Company classifies other investments that are highly liquid and have maturities of three months or less at the date of purchase as cash equivalents. As of September 30, 2020 and 2019, the Company’s investments consisted mainly of United States Treasury securities and money market funds, included in cash equivalents 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, 2020 and 2019 was $46.4 million and $0.1 million, respectively.
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 an 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 receivables 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 groups 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.

Net income Per Share (Tables)

Net income Per Share (Tables)	3 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2020 and 2019, respectively: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2020 2019 2020 2019 Net income available to common stockholders $ 67,057 $ 43,686 $ 157,362 $ 105,925 Basic weighted-average shares outstanding 43,474 44,477 43,683 44,673 Dilutive effect of potential common stock equivalents — restricted stock units 209 337 190 322 Diluted weighted-average shares outstanding 43,683 44,814 43,873 44,995 Net income per common share: Basic $ 1.54 $ 0.98 $ 3.60 $ 2.37 Diluted $ 1.54 $ 0.97 $ 3.59 $ 2.35

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	3 Months Ended
	Sep. 30, 2020
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) 2020 2019 2019 Trade accounts receivable $ 231,559 $ 186,219 $ 144,729 Allowance for doubtful accounts (2,032) (1,434) (1,935) Allowance for sales discounts and returns (3,080) (3,887) (3,430) $ 226,447 $ 180,898 $ 139,364

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 30, 2020
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) 2020 2019 2019 Raw materials $ 100,198 $ 91,088 $ 95,575 In-process products 21,533 24,554 23,672 Finished products 138,323 127,088 132,660 $ 260,054 $ 242,730 $ 251,907

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Sep. 30, 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 September 30, At December 31, (in thousands) 2020 2019 2019 Land $ 28,287 $ 29,132 $ 28,092 Buildings and site improvements 201,020 197,075 195,210 Leasehold improvements 5,699 4,909 4,911 Machinery, equipment, and software 363,187 345,861 351,379 598,193 576,977 579,592 Less accumulated depreciation and amortization (369,655) (339,920) (346,594) 228,538 237,057 232,998 Capital projects in progress 17,934 13,893 16,014 $ 246,472 $ 250,950 $ 249,012

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Sep. 30, 2020
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) 2020 2019 2019 North America $ 96,161 $ 96,192 $ 96,244 Europe 36,215 33,710 34,300 Asia/Pacific 1,358 1,289 1,335 Total $ 133,734 $ 131,191 $ 131,879
Schedule of net intangible assets, by segment	Intangible assets, net, at the dates indicated were as follows: At September 30, 2020 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 33,755 $ (21,761) $ 11,994 Europe 25,930 (16,960) 8,970 Total $ 59,685 $ (38,721) $ 20,964 At September 30, 2019 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 31,305 $ (18,461) $ 12,844 Europe 23,351 (14,379) 8,972 Total $ 54,656 $ (32,840) $ 21,816 At December 31, 2019 Gross Net (in thousands) Carrying Accumulated Carrying 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 September 30, 2020, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2020 $ 1,508 2021 5,542 2022 3,483 2023 2,662 2024 1,710 2025 1,462 Thereafter 3,981 $ 20,348
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, 2020, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2019 $ 131,879 $ 25,071 Amortization — (4,538) Foreign exchange 1,855 431 Balance at September 30, 2020 $ 133,734 $ 20,964

Leases (Tables)

Leases (Tables)	3 Months Ended
	Sep. 30, 2020
Lease, Cost [Abstract]
Balance Sheet Information	The following table provides a summary of leases included on the condensed consolidated balance sheets September 30, 2020, 2019 and December 31, 2019, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of the three months and nine months ended September 30, 2020 and 2019: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2020 2019 2019 Operating leases Assets Operating leases Operating lease right-of-use assets $ 41,453 $ 34,463 $ 35,436 Liabilities Operating - current Accrued expenses and other current liabilities $ 8,443 $ 7,037 $ 7,392 Operating - noncurrent Operating lease liabilities 33,354 27,256 27,930 Total operating lease liabilities $ 41,797 $ 34,293 $ 35,322 Finance leases Assets Property and equipment, gross Property, plant and equipment, net $ 3,569 $ 3,569 $ 3,569 Accumulated amortization Property, plant and equipment, net (3,036) (2,578) (2,739) Property and equipment, net Property, plant and equipment, net $ 533 $ 991 $ 830 Liabilities Other current liabilities Accrued expenses and other current liabilities $ 771 $ 1,116 $ 1,125 Other long-term liabilities Deferred income tax and other long-term liabilities — 764 386 Total finance lease liabilities $ 771 $ 1,880 $ 1,511
Lease, Cost	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) 2020 2019 2020 2019 Operating lease cost General administrative expenses and $ 2,736 $ 2,379 $ 7,708 $ 6,784 Finance lease cost: Amortization of right-of-use General administrative expenses $ 218 $ 218 $ 654 $ 654 Interest on lease liabilities Interest expense, net 7 16 28 54 Total finance lease $ 225 $ 234 $ 682 $ 708 The following table summarizes the Company's lease terms and discount rates as of September 30, 2020 and 2019: Weighted-average remaining lease terms (in years): 2020 2019 Operating leases 7.03 6.72 Finance leases 0.71 1.68 Weighted-average discount rate: Operating leases 5.30 % 5.37 % Finance leases 3.27 % 3.23 %
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2020: (in thousands) Finance Leases Operating Leases Remaining three months of 2020 $ 290 $ 2,632 2021 489 10,147 2022 — 7,933 2023 — 5,867 2024 — 4,834 Thereafter — 18,926 Total lease payments 779 50,339 Less: Present value discount (8) (8,542) Total lease liabilities $ 771 $ 41,797
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2020: (in thousands) Finance Leases Operating Leases Remaining three months of 2020 $ 290 $ 2,632 2021 489 10,147 2022 — 7,933 2023 — 5,867 2024 — 4,834 Thereafter — 18,926 Total lease payments 779 50,339 Less: Present value discount (8) (8,542) Total lease liabilities $ 771 $ 41,797

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Net Sales North America $ 316,902 $ 265,505 $ 852,759 $ 746,009 Europe 44,766 42,219 114,877 121,647 Asia/Pacific 2,636 2,208 6,412 6,373 Total $ 364,304 $ 309,932 $ 974,048 $ 874,029 Sales to Other Segments* North America $ 629 $ 520 $ 1,940 $ 1,327 Europe 1,193 479 3,755 1,568 Asia/Pacific 7,240 7,600 17,717 21,272 Total $ 9,062 $ 8,599 $ 23,412 $ 24,167 Income (Loss) from Operations North America $ 87,378 $ 56,844 $ 213,135 $ 139,489 Europe 6,074 5,386 7,100 9,645 Asia/Pacific 519 (481) (160) (837) Administrative and all other (2,628) (782) (7,170) (3,654) Total $ 91,343 $ 60,967 $ 212,905 $ 144,643 * Sales to other segments are eliminated in consolidation. At At September 30, December 31, (in thousands) 2020 2019 2019 Total Assets North America $ 1,524,482 $ 1,246,617 $ 1,269,545 Europe 186,051 169,183 169,785 Asia/Pacific 31,109 28,009 30,055 Administrative and all other (463,777) (357,501) (374,019) Total $ 1,277,865 $ 1,086,308 $ 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 September 30, Nine Months Ended September 30, (in thousands) 2020 2019 2020 2019 Wood construction products $ 311,167 $ 255,869 $ 834,411 $ 731,898 Concrete construction products 52,983 53,947 139,299 141,883 Other 154 116 338 248 Total $ 364,304 $ 309,932 $ 974,048 $ 874,029

Basis of Presentation (Details)

Basis of Presentation (Details)	9 Months Ended
	Sep. 30, 2020
Maximum
Stock-Based Compensation
Vesting period	4 years

Basis of Presentation - Recentl

Basis of Presentation - Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease right-of-use assets	$ 41,453	$ 35,436	$ 34,463
Total operating lease liabilities	$ 41,797	$ 35,322	$ 34,293

Basis of Presentation - Derivat

Basis of Presentation - Derivative Instruments (Details) - Sep. 30, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
Foreign Exchange Contract | Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	¥ 70.3	$ 10.1

Basis of Presentation - Cash an

Basis of Presentation - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Fair value of cash and cash equivalents	$ 46.4	$ 0.1

Revenue from Contract with Cu_2

Revenue from Contract with Customer (Details) - ASC 606	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reconciliation of basic earnings per share ("EPS") to diluted EPS
Net income available to common stockholders	$ 67,057	$ 43,686	$ 157,362	$ 105,925
Basic weighted-average shares outstanding	43,474	44,477	43,683	44,673
Dilutive effect of potential common stock equivalents — restricted stock units	209	337	190	322
Diluted weighted-average shares outstanding	43,683	44,814	43,873	44,995
Earnings per common share:
Basic	$ 1.54	$ 0.98	$ 3.60	$ 2.37
Diluted	$ 1.54	$ 0.97	$ 3.59	$ 2.35

Stockholders' Equity Shares Rep

Stockholders' Equity Shares Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	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	$ 62,700
Treasury Stock, Shares	1,020,328
Payments for Repurchase of Common Stock	$ 62,679	$ 51,437
2018 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 37,300		$ 100,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)director$ / sharesshares	Sep. 30, 2019USD ($)
Stock-Based Compensation
Unrecognized compensation costs related to unvested share-based compensation arrangements	$ 14,400		$ 14,400
Weighted-average period for recognition of unrecognized stock-based compensation expense	2 years 3 months 18 days
Restricted Stock Units
Stock-Based Compensation
Stock-based compensation expense	$ 543
Awarded (in shares) | shares			166,951
Weighted average granted date fair value (in dollars per share) | $ / shares	$ 58.72		$ 74.91
Vesting period			3 years
Share-based Goods and Nonemployee Services Transaction, Quantity of Securities Issued | shares	9,239
Weighted average exercise price (in dollars per share) | $ / shares	$ 74.66
Employees
Stock-Based Compensation
Stock-based compensation expense	$ 4,000	$ 2,100	$ 9,500	$ 8,700
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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Receivables [Abstract]
Trade accounts receivable	$ 231,559	$ 144,729	$ 186,219
Allowance for doubtful accounts	(2,032)	(1,935)	(1,434)
Allowance for sales discounts and returns	(3,080)	(3,430)	(3,887)
Trade accounts receivable, net	$ 226,447	$ 139,364	$ 180,898

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 100,198	$ 95,575	$ 91,088
In-process products	21,533	23,672	24,554
Finished products	138,323	132,660	127,088
Total inventories	$ 260,054	$ 251,907	$ 242,730

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Property, Plant and Equipment
Property, plant and equipment, gross	$ 598,193	$ 579,592	$ 576,977
Less accumulated depreciation and amortization	(369,655)	(346,594)	(339,920)
Property, plant and equipment excluding capital projects in progress, net	228,538	232,998	237,057
Capital projects in progress	17,934	16,014	13,893
Property, plant and equipment, net	246,472	249,012	250,950
Land
Property, Plant and Equipment
Property, plant and equipment, gross	28,287	28,092	29,132
Buildings and site improvements
Property, Plant and Equipment
Property, plant and equipment, gross	201,020	195,210	197,075
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	5,699	4,911	4,909
Machinery, equipment, and software
Property, Plant and Equipment
Property, plant and equipment, gross	$ 363,187	$ 351,379	$ 345,861

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net, Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Carrying amount of goodwill by reportable segment
Goodwill	$ 133,734	$ 131,879	$ 131,191
North America
Carrying amount of goodwill by reportable segment
Goodwill	96,161	96,244	96,192
Europe
Carrying amount of goodwill by reportable segment
Goodwill	36,215	34,300	33,710
Asia/Pacific
Carrying amount of goodwill by reportable segment
Goodwill	$ 1,358	$ 1,335	$ 1,289

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 1,700	$ 1,400	$ 4,538	$ 4,100
Acquired finite-lived intangible assets, weighted average useful life			5 years 6 months
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	59,685	54,656	$ 59,685	54,656	$ 59,256
Accumulated amortization	(38,721)	(32,840)	(38,721)	(32,840)	(34,185)
Net carrying amount	20,964	21,816	20,964	21,816	25,071
North America
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	33,755	31,305	33,755	31,305	33,756
Accumulated amortization	(21,761)	(18,461)	(21,761)	(18,461)	(19,173)
Net carrying amount	11,994	12,844	11,994	12,844	14,583
Europe
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	25,930	23,351	25,930	23,351	25,500
Accumulated amortization	(16,960)	(14,379)	(16,960)	(14,379)	(15,012)
Net carrying amount	$ 8,970	$ 8,972	$ 8,970	$ 8,972	$ 10,488

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangibles	$ 1,700	$ 1,400	$ 4,538	$ 4,100
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	Sep. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining three months of 2020	$ 1,508
2021	5,542
2022	3,483
2023	2,662
2024	1,710
2025	1,462
Thereafter	3,981
Total	$ 20,348

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, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill
Balance at the beginning of the period			$ 131,879
Foreign exchange			1,855
Balance at the end of the period	$ 133,734	$ 131,191	133,734	$ 131,191
Intangible Assets
Balance at the beginning of the period			25,071
Amortization	(1,700)	(1,400)	(4,538)	(4,100)
Foreign exchange			431
Balance at the end of the period	$ 20,964	$ 21,816	$ 20,964	$ 21,816

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Total finance lease liabilities	$ 771	$ 1,511	$ 1,880
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 | 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	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 41,453	$ 35,436	$ 34,463
Operating - current	8,443	7,392	7,037
Operating - noncurrent	33,354	27,930	27,256
Total operating lease liabilities	41,797	35,322	34,293
Property and equipment, gross	3,569	3,569	3,569
Accumulated amortization	(3,036)	(2,739)	(2,578)
Property and equipment, net	533	830	991
Other current liabilities	771	1,125	1,116
Other long-term liabilities	0	386	764
Total finance lease liabilities	$ 771	$ 1,511	$ 1,880

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2,736	$ 2,379	$ 7,708	$ 6,784
Amortization of right-of-use assets	218	218	654	654
Interest on lease liabilities	7	16	28	54
Total finance lease	$ 225	$ 234	$ 682	$ 708

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lease, Cost [Abstract]
Operating cash flows for operating leases	$ 2,611	$ 2,324	$ 7,395	$ 6,604
Finance cash flows for finance leases	290	290	870	870
Operating right-of-use assets obtained in exchange for lease obligations during the current period	$ 7,155	$ 1,616	$ 14,312	$ 3,704

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remaining three months of 2020	$ 290
2021	489
2022	0
2023	0
2024	0
Thereafter	0
Finance Lease, Liability, Payment, Due	779
Finance Lease, Liability, Undiscounted Excess Amount	(8)
Total finance lease liabilities	771	$ 1,511	$ 1,880
Operating Leases
Remaining three months of 2020	2,632
2021	10,147
2020	7,933
2021	5,867
2024	4,834
Thereafter	18,926
Total lease payments	50,339
Less: Present value discount	(8,542)
Total operating lease liabilities	$ 41,797	$ 35,322	$ 34,293

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	7 years 10 days	6 years 8 months 19 days
Finance Lease, Weighted Average Remaining Lease Term	8 months 15 days	1 year 8 months 4 days
Operating Lease, Weighted Average Discount Rate, Percent	5.30%	5.37%
Finance Lease, Weighted Average Discount Rate, Percent	3.27%	3.23%

Debt (Details)

Debt (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	May 21, 2020	Mar. 31, 2020
Debt
Remaining borrowing capacity	$ 227.5	$ 227.5
Line of Credit
Debt
Credit facility, total available credit	303.9	303.9
Revolving Credit Facility | Credit Facility
Debt
Maximum borrowing capacity			$ 300
Credit facility, total available credit				$ 150
Remaining borrowing capacity	75	$ 75
Repayment of credit facility	$ 75
Revolving Credit Facility | Credit Facility | London Interbank Offered Rate (LIBOR)
Debt
LIBOR floor interest rate		25.00%
Revolving Credit Facility | Credit Facility | Minimum
Debt
Commitment fee percentage		20.00%
Revolving Credit Facility | Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt
Debt instrument, basis spread on variable rate		80.00%
Revolving Credit Facility | Credit Facility | Minimum | Base Rate
Debt
Debt instrument, basis spread on variable rate		20.00%
Revolving Credit Facility | Credit Facility | Maximum
Debt
Commitment fee percentage		35.00%
Revolving Credit Facility | Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt
Debt instrument, basis spread on variable rate		165.00%
Revolving Credit Facility | Credit Facility | Maximum | Base Rate
Debt
Debt instrument, basis spread on variable rate		65.00%

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		9 Months Ended
	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Segment Information
Net sales	$ 364,304	$ 309,932	$ 974,048	$ 874,029
Income (Loss) from Operations	91,343	60,967	212,905	144,643
Total Assets	1,277,865	1,086,308	1,277,865	1,086,308	$ 1,095,366
Cash and cash equivalent	311,465	194,061	311,465	194,061	230,210
Intersegment elimination
Segment Information
Net sales	9,062	8,599	23,412	24,167
Administrative and all other
Segment Information
Income (Loss) from Operations	(2,628)	(782)	(7,170)	(3,654)
Total Assets	(463,777)	(357,501)	(463,777)	(357,501)	(374,019)
Cash and cash equivalent	244,500	135,900	244,500	135,900	161,400
North America
Segment Information
Net sales	316,902	265,505	852,759	746,009
Income (Loss) from Operations	87,378	56,844	213,135	139,489
Total Assets	1,524,482	1,246,617	1,524,482	1,246,617	1,269,545
North America | Intersegment elimination
Segment Information
Net sales	629	520	1,940	1,327
Europe
Segment Information
Net sales	44,766	42,219	114,877	121,647
Income (Loss) from Operations	6,074	5,386	7,100	9,645
Total Assets	186,051	169,183	186,051	169,183	169,785
Europe | Intersegment elimination
Segment Information
Net sales	1,193	479	3,755	1,568
Asia/Pacific
Segment Information
Net sales	2,636	2,208	6,412	6,373
Income (Loss) from Operations	519	(481)	(160)	(837)
Total Assets	31,109	28,009	31,109	28,009	$ 30,055
Asia/Pacific | Intersegment elimination
Segment Information
Net sales	$ 7,240	$ 7,600	$ 17,717	$ 21,272

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net sales and long-lived assets by geographical area
Net sales	$ 364,304	$ 309,932	$ 974,048	$ 874,029
Wood construction products
Net sales and long-lived assets by geographical area
Net sales	311,167	255,869	834,411	731,898
Concrete construction products
Net sales and long-lived assets by geographical area
Net sales	52,983	53,947	139,299	141,883
Other
Net sales and long-lived assets by geographical area
Net sales	154	116	338	248
North America
Net sales and long-lived assets by geographical area
Net sales	$ 316,902	$ 265,505	$ 852,759	$ 746,009

Segment Information (Narrative)

Segment Information (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Concentration Risk [Line Items]
Cash and cash equivalents	$ 311,465	$ 230,210	$ 194,061
Administrative and all other
Concentration Risk [Line Items]
Cash and cash equivalents	$ 244,500	$ 161,400	$ 135,900

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 30, 2020	Oct. 23, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)			$ 0.23	$ 0.23	$ 0.69	$ 0.68
Remaining borrowing capacity			$ 227.5		$ 227.5
Revolving Credit Facility | Credit Facility
Subsequent Event [Line Items]
Repayment of credit facility			75
Remaining borrowing capacity			$ 75		$ 75
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share (in dollars per share)		$ 0.23
Dividends		$ 10
Subsequent Event | Revolving Credit Facility | Credit Facility
Subsequent Event [Line Items]
Repayment of credit facility	$ 25