Simpson Manufacturing (SSD) 10-Q7 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-13429
Entity Registrant Name	Simpson Manufacturing Co., Inc.
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
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SSD
Security Exchange Name	NYSE
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
Entity Common Stock, Shares Outstanding		42,157,919
Entity Central Index Key	0000920371
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Current assets
Cash and cash equivalents	$ 369,122	$ 429,822	$ 252,541
Trade accounts receivable, net	343,414	283,975	339,674
Inventories	555,745	551,575	576,433
Other current assets	60,473	47,069	53,893
Total current assets	1,328,754	1,312,441	1,222,541
Noncurrent assets
Property, plant and equipment, net	437,429	418,612	369,089
Operating lease right-of-use assets	65,933	68,792	55,902
Goodwill	492,767	502,550	500,749
Intangible assets, net	352,527	365,339	366,122
Other noncurrent assets	44,536	36,990	41,231
Total assets	2,721,946	2,704,724	2,555,634
Current liabilities
Trade accounts payable	102,997	107,524	95,302
Accrued liabilities and other current liabilities	226,944	231,233	212,864
Long-term debt, current portion	22,500	22,500	22,500
Total current liabilities	352,441	361,257	330,666
Liabilities, Noncurrent
Operating lease liabilities	52,051	55,324	45,368
Long-term debt, net of issuance costs	453,454	458,791	549,594
Deferred income tax	96,937	98,170	111,221
Other long-term liabilities	41,400	51,436	31,376
Total liabilities	996,283	1,024,978	1,068,225
Commitments and contingencies (see Note 12)
Stockholders’ equity
Common stock, at par value	424	426	426
Additional paid-in capital	309,661	313,119	295,976
Retained earnings	1,440,165	1,426,554	1,194,993
Treasury stock	0	(50,363)	0
Accumulated other comprehensive loss	(24,587)	(9,990)	(3,986)
Total stockholders’ equity	1,725,663	1,679,746	1,487,409
Total liabilities and stockholders’ equity	$ 2,721,946	$ 2,704,724	$ 2,555,634

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 530,579	$ 534,430
Cost of sales	286,023	281,554
Gross profit	244,556	252,876
Operating expenses:
Research and development and other engineering	21,918	20,747
Selling	54,499	48,667
General and administrative	70,193	63,707
Total operating expenses	146,610	133,121
Integration costs	2,046	1,442
Net gain on disposal of assets	(198)	(50)
Income from operations	96,098	118,363
Interest income (expense), net and other finance costs	351	(570)
Other & foreign exchange gain (loss), net	1,969	(398)
Income before taxes	98,418	117,395
Provision for income taxes	22,988	29,441
Net income	75,430	87,954
Other comprehensive income
Translation adjustment	(19,642)	4,560
Unamortized pension adjustments	(73)	218
Cash flow hedge adjustment, net of tax	5,118	(4,705)
Comprehensive net income	$ 60,833	$ 88,027
Net income per common share:
Basic	$ 1.78	$ 2.06
Diluted	$ 1.77	$ 2.05
Weighted average number of shares outstanding
Basic	42,386	42,610
Diluted	42,630	42,827
Cash dividends declared per common share	$ 0.27	$ 0.26

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	AOCI Including Portion Attributable to Noncontrolling Interest	Treasury Stock, Common
Beginning Balance (in shares) at Dec. 31, 2022		42,560,000
Beginning Balance at Dec. 31, 2022	$ 1,413,379	$ 425	$ 298,983	$ 1,118,030	$ (4,059)		$ 0
Increase (Decrease) in Stockholders' Equity
Net income	87,954			87,954
Translation adjustment and other, net of tax	4,560				4,560
Pension adjustment, net of tax	218				218
Cash flow hedges, net of tax	(4,705)					$ (4,705)
Stock-based compensation expense	4,390		4,390
Shares issued from release of Restricted Stock Units (in shares)		103,000
Shares issued from release of Restricted Stock Units	(7,396)	$ 1	(7,397)
Cash dividends declared on common stock	(10,991)			(10,991)
Ending Balance (in shares) at Mar. 31, 2023		42,663,000
Ending Balance at Mar. 31, 2023	1,487,409	$ 426	295,976	1,194,993	(3,986)		0
Beginning Balance (in shares) at Dec. 31, 2023		42,323,000
Beginning Balance at Dec. 31, 2023	1,679,746	$ 426	313,119	1,426,554	(9,990)		(50,363)
Increase (Decrease) in Stockholders' Equity
Net income	75,430			75,430
Translation adjustment and other, net of tax	(19,642)				(19,642)
Pension adjustment, net of tax	(73)				(73)
Cash flow hedges, net of tax	5,118				5,118
Stock-based compensation expense	4,085		4,085
Shares issued from release of Restricted Stock Units (in shares)		119,000
Shares issued from release of Restricted Stock Units	(7,542)	$ 1	(7,543)
Cash dividends declared on common stock	(11,459)			(11,459)
Ending Balance (in shares) at Mar. 31, 2024		42,442,000
Ending Balance at Mar. 31, 2024	1,725,663	$ 424	$ 309,661	1,440,165	$ (24,587)		0
Increase (Decrease) in Stockholders' Equity
Retirement of common stock	$ 0	$ (3)		$ (50,360)			$ 50,363

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share	$ 0.27	$ 0.26

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income	$ 75,430	$ 87,954
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of assets and other	(198)	(50)
Depreciation and amortization	19,189	17,746
Noncash lease expense	3,865	2,946
Release of acquisition related tax contingency	(1,363)	0
Loss in equity method investment, before tax	30	136
Deferred income taxes	(881)	0
Noncash compensation related to stock plans	5,346	4,629
Provision (recovery) for doubtful accounts	(416)	635
Deferred hedge gain	(752)	(896)
Changes in operating assets and liabilities
Trade accounts receivable	(61,254)	(69,990)
Inventories	(9,055)	(16,931)
Trade accounts payable	399	(3,418)
Other current assets	(12,758)	(3,137)
Accrued liabilities and other current liabilities	(2,654)	(13,238)
Other noncurrent assets and liabilities	(6,990)	(3,428)
Net cash provided by operating activities	7,938	2,958
Cash flows from investing activities
Capital expenditures	(39,412)	(18,758)
Acquisitions, net of cash (see Note 3)	0	(8,329)
Purchases of equity investments	(101)	0
Proceeds from sale of property and equipment	142	44
Net cash used in investing activities	(39,371)	(27,043)
Cash flows from financing activities
Proceeds from line of credit	1,262	271
Repayments of lines of credit	(7,088)	(5,625)
Dividends paid	(11,430)	(11,065)
Cash paid on behalf of employees for shares withheld	(7,544)	(7,398)
Net cash used in financing activities	(24,800)	(23,817)
Effect of exchange rate changes on cash and cash equivalents	(4,467)	(299)
Net decrease in cash and cash equivalents	(60,700)	(48,201)
Cash and cash equivalents at beginning of period	429,822	300,742
Cash and cash equivalents at end of period	369,122	252,541
Noncash activity during the period
Noncash capital expenditures	7,532	2,657
Dividends declared but not paid	$ 11,459	$ 10,991

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
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 the cost or the equity method. All significant intercompany transactions have been eliminated. Certain amounts in the Condensed Consolidated Financial Statements of prior year have been reclassified to conform to the fiscal 2024 presentation. These reclassifications had no impact on the Company's Total Assets, Total Stockholders' Equity, Net sales or Net income in its Condensed Consolidated Financial Statements. Use of Estimates The preparation of the Condensed 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 as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Management believes that these Condensed Consolidated Financial Statements include all normal and recurring adjustments necessary for a fair presentation under GAAP. Interim Reporting Period The accompanying unaudited quarterly Condensed Consolidated Financial Statements have been prepared in accordance with GAAP pursuant to the rules and regulations for reporting interim financial information and instructions 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, 2023 (the “2023 Form 10-K”). The unaudited quarterly Condensed Consolidated Financial Statements have been prepared on the same basis as the audited 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. The year-end Condensed Consolidated Balance Sheet data provided herein were derived from audited consolidated financial statements included in the 2023 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 the interim periods presented are not necessarily indicative of the results to be expected for any future periods. Cash and Cash Equivalents The Company classifies investments that are highly liquid and have maturities of three months or less at the date of purchase as cash equivalents. Current Estimated Credit Loss - Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers' failure to make payments on its accounts receivable. The Company determines the estimate of the allowance for doubtful accounts receivable by considering several factors, including (1) specific information on the financial condition and the current creditworthiness of customers, (2) credit rating, (3) payment history and historical experience, (4) aging of the accounts receivable, and (5) reasonable and supportable forecasts about collectability. The Company also reserves 100% of the amounts deemed uncollectible due to a customer's deteriorating financial condition or bankruptcy. Every quarter, the Company evaluates the customer group using the accounts receivable aging report and its best judgment when considering changes in customers' credit ratings, level of delinquency, customers' historical payments and loss experience, current market and economic conditions, and expectations of future market and economic conditions. The changes in the allowance for doubtful accounts receivable for the three months ended March 31, 2024 are outlined in the table below: December 31, 2023 Expense (Deductions), net Write-Offs 1 March 31, 2024 Allowance for doubtful accounts $ 3,882 (416) (539) $ 2,927 1 Amount is net of recoveries and the effect of foreign currency fluctuations. 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 unrelated market participants. As such, fair value is a market-based measurement that is determined based on assumptions that unrelated 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 values of interest rate and foreign currency contracts are classified as Level 2 within the fair value hierarchy. The fair values of the Company’s contingent consideration related to acquisitions is classified as Level 3 within the fair value hierarchy, as these amounts are based on unobservable inputs such as management estimates and entity-specific assumptions and are evaluated on an ongoing basis. The following tables summarize the financial assets and financial liabilities measured at fair value for the Company as of March 31, 2024 and 2023: 2024 2023 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents (1) $113,716 $ — $ — $ 120,485 $ — $ — Term loan due 2027 (2) — 405,000 — 427,500 — Revolver due 2027 (2) — 75,038 — — 150,038 — Derivative instruments - assets (3) — 28,876 — — 35,616 — Derivative instruments - liabilities (3) — 19,472 — — 11,513 — Contingent considerations — — 6,508 — — 6,500 (1) The carrying amounts of cash equivalents, representing money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of March 31, 2024 and 2023 as a component of "Cash and cash equivalents". (2) The carrying amounts of our term loan and revolver approximate fair value as of March 31, 2024 based upon their terms and conditions in comparison to debt instruments with similar terms and conditions available on the same date. (3) Derivatives for interest rate, foreign exchange and forward swap contracts are discussed in Note 7. Derivative Instruments The Company uses derivative instruments as a risk management tool to mitigate the potential impact of certain market risks. Foreign currency and interest rate risk are the primary market risks the Company manages through the use of derivative instruments, which are accounted for as cash flow hedges or net investment hedges under the accounting standards and carried at fair value as other current or noncurrent assets or as other current or other long-term liabilities. Assets and liabilities with the legal right of offset are not offset in the consolidated balance sheets. Net deferred gains and losses related to changes in fair value of cash flow hedges are included in accumulated other comprehensive income/loss (“OCI”), a component of stockholders' equity, and are reclassified into the line item in the Condensed Consolidated Statement of Earnings and Comprehensive Income in which the hedged items are recorded in the same period the hedged item affects earnings. The effective portion of gains and losses attributable to net investment hedges is recorded net of tax to OCI to offset the change in the carrying value of the net investment being hedged. Recognition in earnings of amounts previously recorded to OCI are limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. Changes in fair value of any derivatives that are determined to be ineffective are immediately reclassified from OCI into earnings. Business Combinations and Asset Acquisitions Business combinations are accounted for under the acquisition method in accordance with ASC 805, Business Combinations. The acquisition method requires identifiable assets acquired and liabilities assumed and any noncontrolling interest in the business acquired be recognized and measured at fair value on the acquisition date, which is the date that the acquirer obtains control of the acquired business. The amount by which the fair value of consideration transferred as the purchase price exceeds the net fair value of assets acquired and liabilities assumed is recorded as goodwill. Acquisitions that do not meet the definition of a business under the ASC 805 are accounted for as an acquisition of assets, whereby all of the cost of the individual assets acquired and liabilities assumed, including certain transactions costs, are allocated on a relative fair value basis. Accordingly, goodwill is not recognized in an asset acquisition. Revenue Recognition Generally, the Company recognizes revenue under Accounting Standards Codification (ASC 606) Revenue From Contracts With Customers. Revenue from a contract with a customer exists when the goods are shipped, services are rendered, and the related invoice is generated. The Company has identified each product or service specified in the invoice to be distinct and the duration of the contract to not extend beyond the promised goods or services already transferred. The transaction price of each performance obligation is specified in the invoice that is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer at a point in time. Our shipping terms provide the primary indicator of the transfer of control. The Company’s general shipping terms are Incoterm C.P.T. (F.O.B. shipping point), where the title, and risk and rewards of ownership transfer at the point when the products are no longer on the Company’s premises. Other Incoterms are allowed as exceptions depending on the product or service being sold and the nature of the sale. The Company recognizes revenue based on the consideration specified in the invoice with a customer, excluding any sales incentives, discounts, and amounts collected on behalf of third parties (i.e., governmental tax authorities). Based on historical experience with the customer, the customer’s purchasing pattern, and its significant experience selling products, the Company concluded that a significant reversal in the cumulative amount of revenue recognized would 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. The Company presents taxes collected and remitted to governmental authorities on a net basis in the consolidated statements of operations. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue. Leases The Company has operating leases for certain facilities, equipment, autos and data centers. As an accounting policy for short-term leases, the Company elected to not recognize a right-of-use (“ROU”) 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 a straight-line basis over the full lease term. Stock-Based Compensation The Company recognizes stock-based compensation expense related to the estimated fair value of restricted stock awards on a straight-line basis, net of estimated forfeitures, over the requisite service period of the awards, which is generally the vesting term of three Income Taxes Income taxes are calculated using an asset and liability approach. The provision for income taxes includes federal, state and foreign taxes currently payable, and deferred taxes due to temporary differences between the financial statement and tax bases of assets and liabilities. In addition, future tax benefits are recognized to the extent that realization of such benefits is more likely than not. This method gives consideration to the future tax consequences of the deferred income tax items and immediately recognizes changes in income tax laws in the year of enactment. The Company uses an estimated annual tax rate to measure the tax benefit or tax expense recognized in each interim period. Net Income Per Share Basic net income per common share is computed based on the weighted average number of common shares outstanding. Potentially dilutive shares are included in the diluted per-share calculations using the treasury stock method for all periods when the effect of their inclusion is dilutive. Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2023-07 requiring enhanced segment disclosures. ASU 2023-07 requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”) included within segment operating profit or loss. Additionally, ASU 2023-07 requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of ASU 2023-07 are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company's annual reporting requirements will be effective for fiscal 2024 and interim reporting requirements will be effective beginning with the first quarter of fiscal 2025. Early adoption is permitted and retrospective application is required for all periods presented. The Company is in the process of analyzing the impact of ASU 2023-07 on its related Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09 requiring enhanced income tax disclosures. ASU 2023-09 requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. ASU 2023-09 also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is in the process of analyzing the impact of ASU 2023-09 on its Condensed Consolidated Financial Statements. The Company does not believe any other new accounting pronouncements issued by the FASB that have not become effective will have a material impact on its Condensed Consolidated Financial Statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
Revenue from Contracts with Customers	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Disaggregated revenue The Company disaggregates net sales into the following major product groups as described in its segment information included in these interim financial statements under Note 13. Wood Construction Products Revenue . Wood construction products represented approximately 84.7% and 85.1% of total net sales for the three months ended March 31, 2024 and 2023, respectively. Concrete Construction Products Revenue. Concrete construction products represented approximately 14.8% and 14.3% of total net sales for the three months ended March 31, 2024 and 2023 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 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 0.5% 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 services 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 it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate services in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the services. Reconciliation of contract balances Contract assets are the right to receive 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, 2024 and 2023, the Company had no material contract assets or contract liabilities from contracts with customers .

Net Income Per Share

Net Income Per Share	3 Months Ended
Net Income Per Share	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income per Share The following shows a reconciliation of basic net earnings per share ("EPS") to diluted EPS: Three Months Ended (in thousands, except per share amounts) 2024 2023 Net income available to common stockholders $ 75,430 $ 87,954 Basic weighted-average shares outstanding 42,386 42,610 Dilutive effect of potential common stock equivalents 244 217 Diluted weighted-average shares outstanding 42,630 42,827 Net earnings per common share: Basic $ 1.78 $ 2.06 Diluted $ 1.77 $ 2.05

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company currently maintains the Simpson Manufacturing Co., Inc. Amended and Restated 2011 Incentive Plan (the “2011 Plan”) as its only equity incentive plan. Under the 2011 Plan, no more than 16.3 million shares of the Company’s common stock in aggregate may be issued, including shares already issued pursuant to prior awards granted under the 2011 Plan. Shares of the Company's common stock underlying awards to be issued pursuant to the 2011 Plan are registered under the Securities Act. Under the 2011 Plan, the Company may grant restricted stock and restricted stock units. The Company currently intends to award only performance-based stock units ("PSUs") and/or time-based restricted stock units ("RSUs"). The Company allocates stock-based compensation expense amongst 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. Stock-based compensation capitalized in inventory was immaterial for all periods presented. The Company recognized stock-based compensation expense related to its equity plans for employees of $5.3 million and $4.6 million for the three months ended March 31, 2024 and 2023, respectively. During the three months ended March 31, 2024, the Company granted an aggregate of 146 thousand RSUs and PSUs to the Company's employees, including officers at an estimated weighted average fair value of $178.35 per share based on the closing price (adjusted for certain market factors primarily the present value of dividends) of the Company's common stock on the grant date. The RSUs and PSUs granted to the Company's employees may be time-based, performance-based, or time and performance-based. Certain of the PSUs 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 award 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 are granted to the Company's employees excluding officers and certain key employees, vest ratably over the four year vesting-term of the award.

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	3 Months Ended
Trade Accounts Receivable, Net	Mar. 31, 2024
Receivables [Abstract]
Trade Accounts Receivable, Net	Trade Accounts Receivable, net Trade accounts receivable consisted of the following: As of March 31, As of December 31, (in thousands) 2024 2023 2023 Trade accounts receivable $ 350,622 $ 348,201 $ 292,360 Allowance for doubtful accounts (2,927) (3,961) (3,882) Allowance for sales discounts and returns (4,281) (4,566) (4,503) $ 343,414 $ 339,674 $ 283,975

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories are as follows: As of March 31, As of December 31, (in thousands) 2024 2023 2023 Raw materials $ 165,152 $ 200,190 $ 167,177 In-process products 57,058 56,937 57,432 Finished products 333,535 319,306 326,966 $ 555,745 $ 576,433 $ 551,575

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into derivative instrument agreements, including forward foreign currency exchange contracts, interest rate swaps, and cross currency swaps to manage risk in connection with changes in foreign currency and interest rates. The Company hedges committed exposures and does not engage in speculative transactions. The Company only enters into derivative instrument agreements with counterparties who have highly rated credit. As of March 31, 2024, the aggregate notional amount of the Company's outstanding interest rate contracts, cross currency swap contracts and EUR forward contract were $405.0 million, $424.6 million and $321.7 million, respectively. Changes in fair value of any forward contracts that are determined to be ineffective are immediately reclassified from OCI into earnings. There were no amounts recognized due to ineffectiveness during the three and three months ended March 31, 2024 and March 31, 2023. The effects of fair value and cash flow hedge accounting on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended March 31, were as follows: 2024 2023 (in thousands) Cost of sales Interest income (expense), net and other finance costs Other & foreign exchange loss, net Cost of sales Interest income (expense), net and other finance costs Other & foreign exchange loss, net Total amounts of income and expense line items presented in the Condensed Consolidated Statement of Earnings in which the effects of fair value or cash flow hedges are recorded $ 286,023 $ 351 $ 1,969 $ 281,554 $ (570) $ (398) The effects of fair value and cash flow hedging Gain or (loss) on cash flow hedging relationships Interest contracts: Amount of gain or (loss) reclassified from OCI to earnings — 3,147 — — 3,196 — Cross currency swap contract Amount of gain or (loss) reclassified from OCI to earnings — 1,240 10,140 — 1,339 (1,816) Forward contract Amount of gain reclassified from OCI to earnings (188) — — — — — The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended March 31, 2024 and 2023 were as follows: Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from OCI into Earnings Gain (Loss) Reclassified from OCI into Earnings (in thousands) 2024 2023 2024 2023 Interest rate contracts $ 6,806 $ (4,043) Interest expense $ 3,147 $ 3,196 Cross currency contracts 10,975 (2,279) Interest expense 1,240 1,339 Forward contracts — (35) FX gain (loss) 10,140 (1,816) Cost of goods sold (188) — Total $ 17,781 $ (6,357) $ 14,339 $ 2,719 For the three months ending March 31, 2024 and March 31, 2023 gains on the net investment hedge of $4.7 million and $0.2 million were included in OCI, respectively. For the three months ending March 31, 2024 and March 31, 2023, excluded gains of $1.3 million and $1.2 million were reclassified from OCI to interest expense, respectively. As of March 31, 2024, the aggregate fair values of the Company’s derivative instruments on the Condensed Consolidated Balance Sheet were comprised of an asset of $28.9 million, of which $16.0 million is included in other current assets, and the balance of $12.9 million as other non-current assets, and of a non-current liability of $19.5 million included as deferred income tax and other long-term liabilities.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
Property, Plant and Equipment, Net	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, net Property, plant and equipment consisted of the following: As of March 31, As of December 31, (in thousands) 2024 2023 2023 Land $ 62,036 $ 51,543 $ 62,587 Buildings and site improvements 245,240 233,141 246,021 Leasehold improvements 10,085 6,621 7,782 Machinery and equipment 530,283 481,993 516,017 847,644 773,298 832,407 Less: accumulated depreciation and amortization (486,564) (443,762) (474,974) 361,080 329,536 357,433 Capital projects in progress 76,349 39,553 61,179 Total $ 437,429 $ 369,089 $ 418,612

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets, net Goodwill consisted of the following: As of March 31, As of December 31, (in thousands) 2024 2023 2023 North America $ 101,496 $ 103,570 $ 101,558 Europe 390,026 395,903 399,693 Asia/Pacific 1,245 1,276 1,299 Total $ 492,767 $ 500,749 $ 502,550 Intangible assets, net, consisted of the following: As of March 31, 2024 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 64,189 $ (34,505) $ 29,684 Europe 377,408 (58,263) 319,145 Asia/Pacific 4,077 (379) 3,698 Total $ 445,674 $ (93,147) $ 352,527 As of March 31, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 53,353 $ (30,744) $ 22,609 Europe 378,158 (38,824) 339,334 Asia/Pacific 4,179 — 4,179 Total $ 435,690 $ (69,568) $ 366,122 As of December 31, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 64,190 $ (33,740) $ 30,450 Europe 384,432 (53,493) 330,939 Asia/Pacific 4,240 (290) 3,950 Total $ 452,862 $ (87,523) $ 365,339 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 of definite-lived intangible assets was $5.6 million and $5.7 million for the three months ended March 31, 2024 and 2023, respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 10.6 years. Indefinite-lived intangible assets totaled $92.4 million, $93.0 million, and $91.7 million as of March 31, 2024, and 2023 and December 31, 2023, respectively. At March 31, 2024, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining nine months of 2024 $ 21,568 2025 22,097 2026 21,428 2027 21,292 2028 20,982 2029 21,015 Thereafter 131,721 $ 260,103 The changes in the carrying amount of goodwill and intangible assets for the three months ended March 31, 2024, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2023 $ 502,550 $ 365,339 Amortization — (5,624) Foreign exchange (9,783) (7,188) Balance at March 31, 2024 $ 492,767 $ 352,527

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2036, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of March 31, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item March 31, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 65,933 $ 55,902 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 15,378 $ 11,612 $ 14,954 Operating - noncurrent Operating lease liabilities 52,051 45,368 55,324 Total operating lease liabilities $ 67,429 $ 56,980 $ 70,278 The components of lease expense were as follows: Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item Three Months Ended March 31, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 4,685 $ 3,959 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,587 $ 3,653 Operating right-of-use assets obtained in exchange for new lease liabilities 2,213 1,272 The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2024: (in thousands) Operating Leases Remaining nine months of 2024 $ 13,562 2025 16,742 2026 13,462 2027 10,051 2028 9,158 2028 7,540 Thereafter 6,469 Total lease payments 76,984 Less: Present value discount (9,555) Total lease liabilities $ 67,429 The following table summarizes the Company's lease terms and discount rates as of March 31, 2024 and 2023: Weighted-average remaining lease terms (in years): 2024 2023 Operating leases 5.3 5.9 Weighted-average discount rate: Operating leases 4.9 % 4.7 %
Leases	Leases The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2036, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of March 31, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item March 31, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 65,933 $ 55,902 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 15,378 $ 11,612 $ 14,954 Operating - noncurrent Operating lease liabilities 52,051 45,368 55,324 Total operating lease liabilities $ 67,429 $ 56,980 $ 70,278 The components of lease expense were as follows: Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item Three Months Ended March 31, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 4,685 $ 3,959 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,587 $ 3,653 Operating right-of-use assets obtained in exchange for new lease liabilities 2,213 1,272 The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2024: (in thousands) Operating Leases Remaining nine months of 2024 $ 13,562 2025 16,742 2026 13,462 2027 10,051 2028 9,158 2028 7,540 Thereafter 6,469 Total lease payments 76,984 Less: Present value discount (9,555) Total lease liabilities $ 67,429 The following table summarizes the Company's lease terms and discount rates as of March 31, 2024 and 2023: Weighted-average remaining lease terms (in years): 2024 2023 Operating leases 5.3 5.9 Weighted-average discount rate: Operating leases 4.9 % 4.7 %

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt As of March 31, 2024, the Company had $480.0 million, excluding deferred financing costs, outstanding under its Amended and Restated Credit Facility. The Company had outstanding balances of $577.5 million and $485.7 million under the Amended and Restated Credit Facility as of March 31, 2023, and December 31, 2023, respectively. The following is a schedule, by years, of maturities for the remaining term loan facility as of March 31, 2024: (in thousands) 5-Year Term Loan Remaining nine months of 2024 $ 16,875 2025 22,500 2026 22,500 2027 343,125 Total loan outstanding $ 405,000 The $75.0 million outstanding under the revolving credit facility is due on March 31, 2027. The Company was in compliance with its financial covenants under the Amended and Restated Credit Facility as of March 31, 2024. Certain of the Company's domestic subsidiaries are guarantors for a credit agreement between certain of its foreign subsidiaries and institutional lenders that is in addition to the Amended and Restated Credit Facility. As of March 31, 2024, all of the Company's credit facilities provide a total of $380.7 million in available borrowing capacity and an irrevocable standby letter of credit in support of various insurance deductibles.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
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.

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company is organized into three reporting segments 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 (comprised primarily of the Company’s operations in the U.S. and Canada), the Europe segment, and the Asia/Pacific segment (comprised of the Company’s operations in Asia, the South Pacific, and the Middle East). These segments are similar in several ways, including the types of materials used, the production processes, the distribution channels and the product applications. The Administrative & All Other line item primarily includes expenses such as self-insured workers compensation claims for employees, stock-based compensation for certain members of management, interest expense, foreign exchange gains or losses and income tax expense, as well as revenues and expenses related to real estate activities. The following table illustrates certain measurements used by management to assess the performance of the segments described above as of or the following periods: Three Months Ended March 31, (in thousands) 2024 2023 Net Sales North America $ 406,749 $ 406,330 Europe 119,938 124,215 Asia/Pacific 3,892 3,885 Total $ 530,579 $ 534,430 Sales to Other Segments* North America $ 841 $ 1,168 Europe 1,251 1,613 Asia/Pacific 6,852 5,902 Total $ 8,944 $ 8,683 Income (Loss) from Operations North America $ 98,904 $ 114,393 Europe 8,258 13,470 Asia/Pacific (575) (138) Administrative and all other (10,489) (9,362) Total $ 96,098 $ 118,363 * Sales to other segments are eliminated upon consolidation. As of As of March 31, December 31, (in thousands) 2024 2023 2023 Total Assets North America $ 1,782,890 $ 1,425,374 $ 1,745,341 Europe 716,263 695,268 716,396 Asia/Pacific 36,275 32,789 38,719 Administrative and all other 186,518 402,203 204,268 Total $ 2,721,946 $ 2,555,634 $ 2,704,724 Cash collected by the Company’s U.S. subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore is in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $276.6 million, $189.8 million and $368.6 million, as of March 31, 2024 and 2023, and December 31, 2023, respectively. Also included in the total assets of "Administrative and all other" are intercompany borrowings due from the Europe segment. Included in the total assets of each segment are net intercompany borrowings due to and from the other segments. The Company’s 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 and commercial construction market. Its concrete construction products include adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools and reinforcing fiber materials and are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction. The following table illustrates the distribution of the Company’s net sales by product group as additional information for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in thousands) 2024 2023 Wood construction products $ 449,513 $ 454,758 Concrete construction products 78,730 76,672 Other 2,336 3,000 Total $ 530,579 $ 534,430

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Repurchases From April 1, 2024 to May 2, 2024, the Company repurchased an additional 283,273 shares of the Company’s common stock in the open market at an average price of $176.51 per share, for a total of $50.0 million. As a res ult, as of May 2, 2024, approximately $50.0 million remained available for share repurchase through December 31, 2024 under the Company’s previously announced $100.0 million share repurchase authorization. Dividend Declared On May 1, 2024, the Company’s Board of Directors (the "Board") declared a quarterly cash dividend of $0.28 per share, estimated to be $11.8 million in total. The dividend will be payable on July 25, 2024, to the Company's stockholders of record on July 4, 2024 (due to July 4 being a U.S. holiday, the effective record date is July 3, 2024).

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 75,430	$ 87,954

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2024
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 the cost or the equity method. All significant intercompany transactions have been eliminated. Certain amounts in the Condensed Consolidated Financial Statements of prior year have been reclassified to conform to the fiscal 2024 presentation. These reclassifications had no impact on the Company's Total Assets, Total Stockholders' Equity, Net sales or Net income in its Condensed Consolidated Financial Statements.
Use of Estimates	Use of Estimates The preparation of the Condensed 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 as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Management believes that these Condensed Consolidated Financial Statements include all normal and recurring adjustments necessary for a fair presentation under GAAP.
Interim Period Reporting	Interim Reporting Period The accompanying unaudited quarterly Condensed Consolidated Financial Statements have been prepared in accordance with GAAP pursuant to the rules and regulations for reporting interim financial information and instructions 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, 2023 (the “2023 Form 10-K”). The unaudited quarterly Condensed Consolidated Financial Statements have been prepared on the same basis as the audited 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. The year-end Condensed Consolidated Balance Sheet data provided herein were derived from audited consolidated financial statements included in the 2023 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 the interim periods presented are not necessarily indicative of the results to be expected for any future periods.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company classifies investments that are highly liquid and have maturities of three months or less at the date of purchase as cash equivalents.
Current Estimated Credit Loss - Allowance for Doubtful Accounts	Current Estimated Credit Loss - Allowance for doubtful accounts The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers' failure to make payments on its accounts receivable. The Company determines the estimate of the allowance for doubtful accounts receivable by considering several factors, including (1) specific information on the financial condition and the current creditworthiness of customers, (2) credit rating, (3) payment history and historical experience, (4) aging of the accounts receivable, and (5) reasonable and supportable forecasts about collectability. The Company also reserves 100% of the amounts deemed uncollectible due to a customer's deteriorating financial condition or bankruptcy. Every quarter, the Company evaluates the customer group using the accounts receivable aging report and its best judgment when considering changes in customers' credit ratings, level of delinquency, customers' historical payments and loss experience, current market and economic conditions, and expectations of future market and economic conditions.
Accounting for Leases	Leases The Company has operating leases for certain facilities, equipment, autos and data centers. As an accounting policy for short-term leases, the Company elected to not recognize a right-of-use (“ROU”) 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 a straight-line basis over the full lease term.
Net Income Per Common Share	Net Income Per Share Basic net income per common share is computed based on the weighted average number of common shares outstanding. Potentially dilutive shares are included in the diluted per-share calculations using the treasury stock method for all periods when the effect of their inclusion is dilutive.
Equity Investments	Stock-Based Compensation The Company recognizes stock-based compensation expense related to the estimated fair value of restricted stock awards on a straight-line basis, net of estimated forfeitures, over the requisite service period of the awards, which is generally the vesting term of three
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 unrelated market participants. As such, fair value is a market-based measurement that is determined based on assumptions that unrelated 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 values of interest rate and foreign currency contracts are classified as Level 2 within the fair value hierarchy. The fair values of the Company’s contingent consideration related to acquisitions is classified as Level 3 within the fair value hierarchy, as these amounts are based on unobservable inputs such as management estimates and entity-specific assumptions and are evaluated on an ongoing basis.
Derivative Instruments - Foreign Currency Contracts	Derivative Instruments The Company uses derivative instruments as a risk management tool to mitigate the potential impact of certain market risks. Foreign currency and interest rate risk are the primary market risks the Company manages through the use of derivative instruments, which are accounted for as cash flow hedges or net investment hedges under the accounting standards and carried at fair value as other current or noncurrent assets or as other current or other long-term liabilities. Assets and liabilities with the legal right of offset are not offset in the consolidated balance sheets. Net deferred gains and losses related to changes in fair value of cash flow hedges are included in accumulated other comprehensive income/loss (“OCI”), a component of stockholders' equity, and are reclassified into the line item in the Condensed Consolidated Statement of Earnings and Comprehensive Income in which the hedged items are recorded in the same period the hedged item affects earnings. The effective portion of gains and losses attributable to net investment hedges is recorded net of tax to OCI to offset the change in the carrying value of the net investment being hedged. Recognition in earnings of amounts previously recorded to OCI are limited to circumstances such as complete or substantially complete liquidation of the net investment in the hedged foreign operation. Changes in fair value of any derivatives that are determined to be ineffective are immediately reclassified from OCI into earnings.
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions Business combinations are accounted for under the acquisition method in accordance with ASC 805, Business Combinations. The acquisition method requires identifiable assets acquired and liabilities assumed and any noncontrolling interest in the business acquired be recognized and measured at fair value on the acquisition date, which is the date that the acquirer obtains control of the acquired business. The amount by which the fair value of consideration transferred as the purchase price exceeds the net fair value of assets acquired and liabilities assumed is recorded as goodwill. Acquisitions that do not meet the definition of a business under the ASC 805 are accounted for as an acquisition of assets, whereby all of the cost of the individual assets acquired and liabilities assumed, including certain transactions costs, are allocated on a relative fair value basis. Accordingly, goodwill is not recognized in an asset acquisition.
Revenue Recognition	Revenue Recognition Generally, the Company recognizes revenue under Accounting Standards Codification (ASC 606) Revenue From Contracts With Customers. Revenue from a contract with a customer exists when the goods are shipped, services are rendered, and the related invoice is generated. The Company has identified each product or service specified in the invoice to be distinct and the duration of the contract to not extend beyond the promised goods or services already transferred. The transaction price of each performance obligation is specified in the invoice that is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control of a product to a customer at a point in time. Our shipping terms provide the primary indicator of the transfer of control. The Company’s general shipping terms are Incoterm C.P.T. (F.O.B. shipping point), where the title, and risk and rewards of ownership transfer at the point when the products are no longer on the Company’s premises. Other Incoterms are allowed as exceptions depending on the product or service being sold and the nature of the sale. The Company recognizes revenue based on the consideration specified in the invoice with a customer, excluding any sales incentives, discounts, and amounts collected on behalf of third parties (i.e., governmental tax authorities). Based on historical experience with the customer, the customer’s purchasing pattern, and its significant experience selling products, the Company concluded that a significant reversal in the cumulative amount of revenue recognized would 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. The Company presents taxes collected and remitted to governmental authorities on a net basis in the consolidated statements of operations. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue.
Income Taxes	Income Taxes Income taxes are calculated using an asset and liability approach. The provision for income taxes includes federal, state and foreign taxes currently payable, and deferred taxes due to temporary differences between the financial statement and tax bases of assets and liabilities. In addition, future tax benefits are recognized to the extent that realization of such benefits is more likely than not. This method gives consideration to the future tax consequences of the deferred income tax items and immediately recognizes changes in income tax laws in the year of enactment. 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 Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (“ASU”) 2023-07 requiring enhanced segment disclosures. ASU 2023-07 requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”) included within segment operating profit or loss. Additionally, ASU 2023-07 requires a description of how the CODM utilizes segment operating profit or loss to assess segment performance. The requirements of ASU 2023-07 are effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company's annual reporting requirements will be effective for fiscal 2024 and interim reporting requirements will be effective beginning with the first quarter of fiscal 2025. Early adoption is permitted and retrospective application is required for all periods presented. The Company is in the process of analyzing the impact of ASU 2023-07 on its related Condensed Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09 requiring enhanced income tax disclosures. ASU 2023-09 requires disclosure of specific categories and disaggregation of information in the rate reconciliation table. ASU 2023-09 also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is in the process of analyzing the impact of ASU 2023-09 on its Condensed Consolidated Financial Statements. The Company does not believe any other new accounting pronouncements issued by the FASB that have not become effective will have a material impact on its Condensed Consolidated Financial Statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
Basis of Presentation (Tables)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair Value, by Balance Sheet Grouping	The following tables summarize the financial assets and financial liabilities measured at fair value for the Company as of March 31, 2024 and 2023: 2024 2023 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents (1) $113,716 $ — $ — $ 120,485 $ — $ — Term loan due 2027 (2) — 405,000 — 427,500 — Revolver due 2027 (2) — 75,038 — — 150,038 — Derivative instruments - assets (3) — 28,876 — — 35,616 — Derivative instruments - liabilities (3) — 19,472 — — 11,513 — Contingent considerations — — 6,508 — — 6,500 (1) The carrying amounts of cash equivalents, representing money market funds traded in an active market with relatively short maturities, are reported on the consolidated balance sheet as of March 31, 2024 and 2023 as a component of "Cash and cash equivalents". (2) The carrying amounts of our term loan and revolver approximate fair value as of March 31, 2024 based upon their terms and conditions in comparison to debt instruments with similar terms and conditions available on the same date. (3) Derivatives for interest rate, foreign exchange and forward swap contracts are discussed in Note 7.
Accounts Receivable, Allowance for Credit Loss	The changes in the allowance for doubtful accounts receivable for the three months ended March 31, 2024 are outlined in the table below: December 31, 2023 Expense (Deductions), net Write-Offs 1 March 31, 2024 Allowance for doubtful accounts $ 3,882 (416) (539) $ 2,927 1 Amount is net of recoveries and the effect of foreign currency fluctuations.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
Net Income Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following shows a reconciliation of basic net earnings per share ("EPS") to diluted EPS: Three Months Ended (in thousands, except per share amounts) 2024 2023 Net income available to common stockholders $ 75,430 $ 87,954 Basic weighted-average shares outstanding 42,386 42,610 Dilutive effect of potential common stock equivalents 244 217 Diluted weighted-average shares outstanding 42,630 42,827 Net earnings per common share: Basic $ 1.78 $ 2.06 Diluted $ 1.77 $ 2.05

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	3 Months Ended
Trade Accounts Receivable, Net (Tables)	Mar. 31, 2024
Receivables [Abstract]
Schedule of trade accounts receivable, net	As of March 31, As of December 31, (in thousands) 2024 2023 2023 Trade accounts receivable $ 350,622 $ 348,201 $ 292,360 Allowance for doubtful accounts (2,927) (3,961) (3,882) Allowance for sales discounts and returns (4,281) (4,566) (4,503) $ 343,414 $ 339,674 $ 283,975

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of carrying values of inventories	As of March 31, As of December 31, (in thousands) 2024 2023 2023 Raw materials $ 165,152 $ 200,190 $ 167,177 In-process products 57,058 56,937 57,432 Finished products 333,535 319,306 326,966 $ 555,745 $ 576,433 $ 551,575

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The effects of fair value and cash flow hedge accounting on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended March 31, were as follows: 2024 2023 (in thousands) Cost of sales Interest income (expense), net and other finance costs Other & foreign exchange loss, net Cost of sales Interest income (expense), net and other finance costs Other & foreign exchange loss, net Total amounts of income and expense line items presented in the Condensed Consolidated Statement of Earnings in which the effects of fair value or cash flow hedges are recorded $ 286,023 $ 351 $ 1,969 $ 281,554 $ (570) $ (398) The effects of fair value and cash flow hedging Gain or (loss) on cash flow hedging relationships Interest contracts: Amount of gain or (loss) reclassified from OCI to earnings — 3,147 — — 3,196 — Cross currency swap contract Amount of gain or (loss) reclassified from OCI to earnings — 1,240 10,140 — 1,339 (1,816) Forward contract Amount of gain reclassified from OCI to earnings (188) — — — — — The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended March 31, 2024 and 2023 were as follows: Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI Location of Gain (Loss) Reclassified from OCI into Earnings Gain (Loss) Reclassified from OCI into Earnings (in thousands) 2024 2023 2024 2023 Interest rate contracts $ 6,806 $ (4,043) Interest expense $ 3,147 $ 3,196 Cross currency contracts 10,975 (2,279) Interest expense 1,240 1,339 Forward contracts — (35) FX gain (loss) 10,140 (1,816) Cost of goods sold (188) — Total $ 17,781 $ (6,357) $ 14,339 $ 2,719

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
Property, Plant and Equipment, Net (Tables)	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	As of March 31, As of December 31, (in thousands) 2024 2023 2023 Land $ 62,036 $ 51,543 $ 62,587 Buildings and site improvements 245,240 233,141 246,021 Leasehold improvements 10,085 6,621 7,782 Machinery and equipment 530,283 481,993 516,017 847,644 773,298 832,407 Less: accumulated depreciation and amortization (486,564) (443,762) (474,974) 361,080 329,536 357,433 Capital projects in progress 76,349 39,553 61,179 Total $ 437,429 $ 369,089 $ 418,612

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill, by segment	Goodwill consisted of the following: As of March 31, As of December 31, (in thousands) 2024 2023 2023 North America $ 101,496 $ 103,570 $ 101,558 Europe 390,026 395,903 399,693 Asia/Pacific 1,245 1,276 1,299 Total $ 492,767 $ 500,749 $ 502,550
Schedule of net intangible assets, by segment	Intangible assets, net, consisted of the following: As of March 31, 2024 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 64,189 $ (34,505) $ 29,684 Europe 377,408 (58,263) 319,145 Asia/Pacific 4,077 (379) 3,698 Total $ 445,674 $ (93,147) $ 352,527 As of March 31, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 53,353 $ (30,744) $ 22,609 Europe 378,158 (38,824) 339,334 Asia/Pacific 4,179 — 4,179 Total $ 435,690 $ (69,568) $ 366,122 As of December 31, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 64,190 $ (33,740) $ 30,450 Europe 384,432 (53,493) 330,939 Asia/Pacific 4,240 (290) 3,950 Total $ 452,862 $ (87,523) $ 365,339
Schedule of estimated future amortization of intangible assets	At March 31, 2024, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining nine months of 2024 $ 21,568 2025 22,097 2026 21,428 2027 21,292 2028 20,982 2029 21,015 Thereafter 131,721 $ 260,103
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, 2024, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2023 $ 502,550 $ 365,339 Amortization — (5,624) Foreign exchange (9,783) (7,188) Balance at March 31, 2024 $ 492,767 $ 352,527

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Balance Sheet Information	The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of March 31, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item March 31, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 65,933 $ 55,902 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 15,378 $ 11,612 $ 14,954 Operating - noncurrent Operating lease liabilities 52,051 45,368 55,324 Total operating lease liabilities $ 67,429 $ 56,980 $ 70,278
Lease, Cost	The components of lease expense were as follows: Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item Three Months Ended March 31, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 4,685 $ 3,959 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended March 31, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 4,587 $ 3,653 Operating right-of-use assets obtained in exchange for new lease liabilities 2,213 1,272 The following table summarizes the Company's lease terms and discount rates as of March 31, 2024 and 2023: Weighted-average remaining lease terms (in years): 2024 2023 Operating leases 5.3 5.9 Weighted-average discount rate: Operating leases 4.9 % 4.7 %
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2024: (in thousands) Operating Leases Remaining nine months of 2024 $ 13,562 2025 16,742 2026 13,462 2027 10,051 2028 9,158 2028 7,540 Thereafter 6,469 Total lease payments 76,984 Less: Present value discount (9,555) Total lease liabilities $ 67,429
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2024: (in thousands) Operating Leases Remaining nine months of 2024 $ 13,562 2025 16,742 2026 13,462 2027 10,051 2028 9,158 2028 7,540 Thereafter 6,469 Total lease payments 76,984 Less: Present value discount (9,555) Total lease liabilities $ 67,429

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	The following is a schedule, by years, of maturities for the remaining term loan facility as of March 31, 2024: (in thousands) 5-Year Term Loan Remaining nine months of 2024 $ 16,875 2025 22,500 2026 22,500 2027 343,125 Total loan outstanding $ 405,000

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of performance of reportable segments	The following table illustrates certain measurements used by management to assess the performance of the segments described above as of or the following periods: Three Months Ended March 31, (in thousands) 2024 2023 Net Sales North America $ 406,749 $ 406,330 Europe 119,938 124,215 Asia/Pacific 3,892 3,885 Total $ 530,579 $ 534,430 Sales to Other Segments* North America $ 841 $ 1,168 Europe 1,251 1,613 Asia/Pacific 6,852 5,902 Total $ 8,944 $ 8,683 Income (Loss) from Operations North America $ 98,904 $ 114,393 Europe 8,258 13,470 Asia/Pacific (575) (138) Administrative and all other (10,489) (9,362) Total $ 96,098 $ 118,363 * Sales to other segments are eliminated upon consolidation. As of As of March 31, December 31, (in thousands) 2024 2023 2023 Total Assets North America $ 1,782,890 $ 1,425,374 $ 1,745,341 Europe 716,263 695,268 716,396 Asia/Pacific 36,275 32,789 38,719 Administrative and all other 186,518 402,203 204,268 Total $ 2,721,946 $ 2,555,634 $ 2,704,724
Schedule of net sales distributed by product group	The following table illustrates the distribution of the Company’s net sales by product group as additional information for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (in thousands) 2024 2023 Wood construction products $ 449,513 $ 454,758 Concrete construction products 78,730 76,672 Other 2,336 3,000 Total $ 530,579 $ 534,430

Basis of Presentation - Account

Basis of Presentation - Accounting for Stock-based Compensation (Details)	3 Months Ended
	Mar. 31, 2024
Stock-Based Compensation
Performance period	3 years
Minimum
Stock-Based Compensation
Vesting period	3 years
Maximum
Stock-Based Compensation
Vesting period	4 years

Basis of Presentation - Cash an

Basis of Presentation - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Inputs, Level 1
Cash and Cash Equivalents [Abstract]
Fair value of cash and cash equivalents	$ 113,716	$ 120,485
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of cash and cash equivalents	113,716	120,485
Contingent considerations	0	0
Fair Value, Inputs, Level 1 \| Foreign Exchange Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	0	0
Fair Value, Inputs, Level 1 \| Derivative Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	0	0
Fair Value, Inputs, Level 1 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving loan	0	0
Fair Value, Inputs, Level 2
Cash and Cash Equivalents [Abstract]
Fair value of cash and cash equivalents	0	0
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of cash and cash equivalents	0	0
Long-Term Debt, Fair Value	405,000	427,500
Contingent considerations	0	0
Fair Value, Inputs, Level 2 \| Foreign Exchange Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities		11,513
Fair Value, Inputs, Level 2 \| Deferred Income Tax Charge
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	19,472
Fair Value, Inputs, Level 2 \| Derivative Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	28,876	35,616
Fair Value, Inputs, Level 2 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving loan	75,038	150,038
Fair Value, Inputs, Level 3
Cash and Cash Equivalents [Abstract]
Fair value of cash and cash equivalents	0	0
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of cash and cash equivalents	0	0
Long-Term Debt, Fair Value	0	0
Contingent considerations	6,508	6,500
Fair Value, Inputs, Level 3 \| Foreign Exchange Contract
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	0	0
Fair Value, Inputs, Level 3 \| Derivative Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	0	0
Fair Value, Inputs, Level 3 \| Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Revolving loan	$ 0	$ 0

Basis of Presentation - Accou_2

Basis of Presentation - Accounts Receivable, Allowance for Credit Loss (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of uncollectible accounts receivable	100%
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts, beginning balance	$ 3,882
Expense (Deductions), net	(416)
Write-Offs	(539)
Allowance for doubtful accounts, ending balance	$ 2,927

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Details) - ASC 606	3 Months Ended
Revenue from Contracts with Customers (Details) - ASC 606	Mar. 31, 2024	Mar. 31, 2023
Wood construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	84.70%	85.10%
Concrete construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	14.80%	14.30%
Other
Disaggregation of Revenue [Line Items]
Percentage of net sales	0.50%

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
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation of basic earnings per share ("EPS") to diluted EPS
Net income available to common stockholders	$ 75,430	$ 87,954
Basic weighted-average shares outstanding	42,386	42,610
Dilutive effect of potential common stock equivalents	244	217
Diluted weighted-average shares outstanding	42,630	42,827
Net income per common share:
Basic	$ 1.78	$ 2.06
Diluted	$ 1.77	$ 2.05

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock-Based Compensation
Stock-based compensation expense	$ 5.3	$ 4.6
Unrecognized compensation costs related to unvested share-based compensation arrangements	$ 38.1
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)	146,000
Weighted average granted date fair value (in dollars per share)	$ 178.35
Phantom Share Units (PSUs)
Stock-Based Compensation
Vesting period	3 years
Non-Qualified Stock Options \| Stock Option and Restricted Stock Unit Plan 2011
Stock-Based Compensation
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	16,300,000
Employees \| Restricted Stock Units
Stock-Based Compensation
Vesting period	4 years

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Receivables [Abstract]
Trade accounts receivable	$ 350,622	$ 292,360	$ 348,201
Allowance for doubtful accounts	(2,927)	(3,882)	(3,961)
Allowance for sales discounts and returns	(4,281)	(4,503)	(4,566)
Trade accounts receivable, net	$ 343,414	$ 283,975	$ 339,674

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 165,152	$ 167,177	$ 200,190
In-process products	57,058	57,432	56,937
Finished products	333,535	326,966	319,306
Total inventories	$ 555,745	$ 551,575	$ 576,433

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Accrued Interest, OCI	$ 1,300	$ 1,200
Fair Value, Inputs, Level 2 \| Derivative Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities	(28,876)	(35,616)
Other Current Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value hedge assets	16,000
Other Noncurrent Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value hedge assets	12,900
Interest contracts:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	405,000
Cross currency swap contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Notional Amount	424,600
Forward contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	321,700
Foreign Exchange Contract \| Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities		(11,513)
Deferred Income Tax Charge \| Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities	(19,472)
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	4,700	(200)
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	17,781	(6,357)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	14,339	2,719
Cash Flow Hedging \| Interest contracts:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	6,806	(4,043)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	3,147	(3,196)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	3,147	3,196
Cash Flow Hedging \| Cross currency swap contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	10,975	(2,279)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	1,240	1,339
Cash Flow Hedging \| Forward contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	0	(35)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(188)	0
Cash Flow Hedging \| Foreign Exchange Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	$ 10,140	$ (1,816)

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Effects of Fair Value and Cash Flow Hedge (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other & foreign exchange gain (loss), net	$ 1,969	$ (398)
Cost of sales	286,023	281,554
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(188)	0
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	$ 17,781	(6,357)
Interest contracts: \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments, Income Statement Location of Gain (Loss) Reclassified from Accumulated OCI	—
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (3,147)	3,196
Gain (Loss) Recognized in OCI	6,806	(4,043)
Cross currency swap contract \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	$ 10,975	(2,279)
Cross currency swap contract \| Cash Flow Hedging \| Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments, Income Statement Location of Gain (Loss) Reclassified from Accumulated OCI	—
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (1,240)	(1,339)
Cross currency swap contract \| Cash Flow Hedging \| Foreign Currency Gain (Loss)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	10,140	(1,816)
Forward contract \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	0
Gain (Loss) Recognized in OCI	$ 0	$ (35)

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Property, Plant and Equipment
Property, plant and equipment, gross	$ 847,644	$ 832,407	$ 773,298
Less: accumulated depreciation and amortization	(486,564)	(474,974)	(443,762)
Property, plant and equipment excluding capital projects in progress, net	361,080	357,433	329,536
Capital projects in progress	76,349	61,179	39,553
Property, plant and equipment, net	437,429	418,612	369,089
Land
Property, Plant and Equipment
Property, plant and equipment, gross	62,036	62,587	51,543
Buildings and site improvements
Property, Plant and Equipment
Property, plant and equipment, gross	245,240	246,021	233,141
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	10,085	7,782	6,621
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	$ 530,283	$ 516,017	$ 481,993

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Carrying amount of goodwill by reportable segment
Goodwill	$ 492,767	$ 502,550	$ 500,749
North America
Carrying amount of goodwill by reportable segment
Goodwill	101,496	101,558	103,570
Europe
Carrying amount of goodwill by reportable segment
Goodwill	390,026	399,693	395,903
Asia/Pacific
Carrying amount of goodwill by reportable segment
Goodwill	$ 1,245	$ 1,299	$ 1,276

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 5,624	$ 5,700
Weighted-average useful life (in years)	10 years 7 months 6 days
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	$ 445,674	435,690	$ 452,862
Accumulated amortization	(93,147)	(69,568)	(87,523)
Net carrying amount	352,527	366,122	365,339
North America
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	64,189	53,353	64,190
Accumulated amortization	(34,505)	(30,744)	(33,740)
Net carrying amount	29,684	22,609	30,450
Europe
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	377,408	378,158	384,432
Accumulated amortization	(58,263)	(38,824)	(53,493)
Net carrying amount	319,145	339,334	330,939
Asia/Pacific
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	4,077	4,179	4,240
Accumulated amortization	(379)	0	(290)
Net carrying amount	$ 3,698	$ 4,179	$ 3,950

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangibles	$ 5,624	$ 5,700
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 92,400	$ 93,000	$ 91,700

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Future Amortization (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining nine months of 2024	$ 21,568
2025000	22,097
2026000	21,428
2027000	21,292
2028000	20,982
2029000	21,015
Thereafter	131,721
Total	$ 260,103
Weighted-average useful life (in years)	10 years 7 months 6 days

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Carrying Amount of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill
Balance at the beginning of the period	$ 502,550
Foreign exchange	(9,783)
Balance at the end of the period	492,767	$ 500,749
Intangible Assets
Balance at the beginning of the period	365,339
Amortization	(5,624)	(5,700)
Foreign exchange	(7,188)
Balance at the end of the period	$ 352,527	$ 366,122

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 31, 2024
Leases [Abstract]
Option to extend term	5 years

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 65,933	$ 68,792	$ 55,902
Operating - current	15,378	14,954	11,612
Operating - noncurrent	52,051	55,324	45,368
Total operating lease liabilities	$ 67,429	$ 70,278	$ 56,980

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease cost	$ 4,685	$ 3,959

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lease, Cost [Abstract]
Operating cash flows for operating leases	$ 4,587	$ 3,653
Operating right-of-use assets obtained in exchange for new lease liabilities	$ 2,213	$ 1,272

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Operating Leases
Remaining nine months of 2024	$ 13,562
2025	16,742
2026	13,462
2027	10,051
2028	9,158
2028	7,540
Thereafter	6,469
Total lease payments	76,984
Less: Present value discount	(9,555)
Total operating lease liabilities	$ 67,429	$ 70,278	$ 56,980

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	5 years 3 months 18 days	5 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	4.90%	4.70%

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Debt
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 480,000	$ 577,500	$ 485,700
Revolving Credit Facility
Debt
Proceeds from Lines of Credit	380,700
Revolving Credit Facility \| Fair Value, Inputs, Level 2
Debt
Revolving loan	$ 75,038	$ 150,038

Debt - Schedule of Maturity (De

Debt - Schedule of Maturity (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Remaining nine months of 2024	$ 16,875
2025	22,500
2026	22,500
2027	343,125
Total loan outstanding	$ 405,000

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Information
Net sales	$ 530,579	$ 534,430
Income (Loss) from Operations	96,098	118,363
Total Assets	2,721,946	2,555,634	$ 2,704,724
Cash and cash equivalent	369,122	252,541	429,822
Intersegment elimination
Segment Information
Net sales	8,944	8,683
North America \| Intersegment elimination
Segment Information
Net sales	841	1,168
North America \| Operating Segments
Segment Information
Net sales	406,749	406,330
Income (Loss) from Operations	98,904	114,393
Total Assets	1,782,890	1,425,374	1,745,341
Europe \| Intersegment elimination
Segment Information
Net sales	1,251	1,613
Europe \| Operating Segments
Segment Information
Net sales	119,938	124,215
Income (Loss) from Operations	8,258	13,470
Total Assets	716,263	695,268	716,396
Asia/Pacific \| Intersegment elimination
Segment Information
Net sales	6,852	5,902
Asia/Pacific \| Operating Segments
Segment Information
Net sales	3,892	3,885
Income (Loss) from Operations	(575)	(138)
Total Assets	36,275	32,789	38,719
Administrative and all other \| Administrative and all other
Segment Information
Income (Loss) from Operations	(10,489)	(9,362)
Cash and cash equivalent	276,600	189,800	368,600
Administrative and all other \| Operating Segments
Segment Information
Total Assets	$ 186,518	$ 402,203	$ 204,268

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Net sales and long-lived assets by geographical area
Net sales	$ 530,579	$ 534,430
Wood construction products
Net sales and long-lived assets by geographical area
Net sales	449,513	454,758
Concrete construction products
Net sales and long-lived assets by geographical area
Net sales	78,730	76,672
Other
Net sales and long-lived assets by geographical area
Net sales	$ 2,336	$ 3,000

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended
Segment Information (Narrative) (Details) $ in Thousands	Mar. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Concentration Risk [Line Items]
Cash and cash equivalents \| $	$ 369,122	$ 429,822	$ 252,541
Number of reportable segments \| segment	3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	May 01, 2024	May 02, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 01, 2018
Subsequent Event [Line Items]
Cash dividends declared per common share			$ 0.27	$ 0.26
2018 Stock Repurchase Program [Member]
Subsequent Event [Line Items]
Authorized amount					$ 100
Subsequent Event
Subsequent Event [Line Items]
Repurchased shares (in shares)		283,273
Value of shares repurchased		$ 50
Average cost per share repurchased (in dollars per share)		$ 176.51
Remaining authorized repurchase amount		$ 50
Cash dividends declared per common share	$ 0.28
Dividends	$ 11.8