Simpson Manufacturing (SSD) 10-Q8 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
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		42,164,088
Entity Central Index Key	0000920371
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Document Period End Date	Sep. 30, 2024

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 339,427	$ 429,822	$ 571,006
Trade accounts receivable, net	360,350	283,975	351,164
Inventories	583,380	551,575	504,446
Other current assets	51,609	47,069	51,583
Total current assets	1,334,766	1,312,441	1,478,199
Noncurrent assets
Property, plant and equipment, net	495,822	418,612	382,508
Operating lease right-of-use assets	87,097	68,792	66,144
Goodwill	550,946	502,550	483,413
Intangible assets, net	395,517	365,339	356,450
Other noncurrent assets	33,311	36,990	48,773
Total assets	2,897,459	2,704,724	2,815,487
Current liabilities
Trade accounts payable	110,321	107,524	95,267
Income tax payable	4,126	3,491	87,569
Accrued liabilities and other current liabilities	241,004	227,742	222,233
Long-term debt, current portion	22,500	22,500	22,500
Total current liabilities	377,951	361,257	427,569
Liabilities, Noncurrent
Operating lease liabilities	70,496	55,324	53,808
Long-term debt, net of issuance costs	442,885	458,791	539,073
Deferred income tax	89,226	98,170	97,298
Other long-term liabilities	53,457	51,436	28,248
Total liabilities	1,034,015	1,024,978	1,145,996
Non-qualified deferred compensation plan share awards	6,473	0	0
Commitments and contingencies (see Note 13)
Stockholders’ equity
Common stock, at par value	424	426	426
Additional paid-in capital	311,885	313,119	307,149
Retained earnings	1,606,371	1,426,554	1,383,184
Common stock held in non-qualified deferred compensation plan ("DCP")	(1,074)	0	0
Treasury stock	(50,280)	(50,363)	0
Accumulated other comprehensive loss	(10,355)	(9,990)	(21,268)
Total stockholders’ equity	1,856,971	1,679,746	1,669,491
Total liabilities and stockholders’ equity	$ 2,897,459	$ 2,704,724	$ 2,815,487

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 587,153	$ 580,084	$ 1,714,710	$ 1,712,093
Cost of sales	312,096	297,167	916,551	888,835
Gross profit	275,057	282,917	798,159	823,258
Operating expenses:
Research and development and other engineering	23,678	24,751	68,303	67,035
Selling	54,590	52,391	165,007	151,497
General and administrative	70,604	64,793	207,181	197,267
Total operating expenses	148,872	141,935	440,491	415,799
Acquisition and integration related costs	1,356	785	4,992	4,086
Net gain on disposal of assets	(25)	(16)	(460)	(223)
Income from operations	124,854	140,213	353,136	403,596
Interest income and other finance costs, net	1,668	1,292	4,111	18
Other & foreign exchange gain (loss), net	(29)	(1,429)	352	(1,471)
Income before taxes	126,493	140,076	357,599	402,143
Provision for income taxes	32,974	36,055	90,821	102,958
Net income	93,519	104,021	266,778	299,185
Other comprehensive income
Translation adjustments	26,320	(13,238)	4,409	(8,729)
Unamortized pension adjustments	(367)	(4)	(653)	396
Cash flow hedge adjustment, net of tax	(11,427)	1,087	(4,121)	(8,876)
Comprehensive net income	$ 108,045	$ 91,866	$ 266,413	$ 281,976
Net income per common share:
Basic	$ 2.22	$ 2.44	$ 6.31	$ 7.01
Diluted	$ 2.21	$ 2.43	$ 6.28	$ 6.98
Weighted-average number of shares outstanding
Basic	42,151	42,673	42,254	42,651
Diluted	42,335	42,882	42,464	42,893
Cash dividends declared per common share	$ 0.28	$ 0.27	$ 0.83	$ 0.80

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	DCP Vested Stock	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	$ 0
Increase (Decrease) in Stockholders' Equity
Net income	299,185			299,185
Translation adjustment and other, net of tax	(8,729)				(8,729)
Pension adjustment, net of tax	396				396
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(8,876)				(8,876)
Stock-based compensation and deferred compensation plan ("DCP") expense	15,564		15,564
Shares issued from release of Restricted Stock Units (in shares)		113,000
Shares issued from release of Restricted Stock Units	(7,397)	$ 1	(7,398)
Cash dividends declared on common stock	(34,031)			(34,031)
Ending Balance (in shares) at Sep. 30, 2023		42,673,000
Ending Balance at Sep. 30, 2023	1,669,491	$ 426	307,149	1,383,184	(21,268)		0	0
Beginning Balance (in shares) at Jun. 30, 2023		42,673,000
Beginning Balance at Jun. 30, 2023	1,583,611	$ 426	301,612	1,290,686	(9,113)		0	0
Increase (Decrease) in Stockholders' Equity
Net income	104,021			104,021
Translation adjustment and other, net of tax	(13,238)				(13,238)
Pension adjustment, net of tax	(4)				(4)
Cash flow hedges, net of tax	1,087					$ 1,087
Stock-based compensation and deferred compensation plan ("DCP") expense	5,537		5,537
Cash dividends declared on common stock	(11,523)			(11,523)
Ending Balance (in shares) at Sep. 30, 2023		42,673,000
Ending Balance at Sep. 30, 2023	1,669,491	$ 426	307,149	1,383,184	(21,268)		0	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)		0	(50,363)
Increase (Decrease) in Stockholders' Equity
Net income	266,778			266,778
Translation adjustment and other, net of tax	4,409				4,409
Pension adjustment, net of tax	(653)				(653)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(4,121)				(4,121)
Stock-based compensation and deferred compensation plan ("DCP") expense	5,246		5,246
Common stock held in DCP	0		(1,074)				1,074
Change in redemption value of share awards in DCP	(1,533)			(1,533)
Shares issued from release of Restricted Stock Units (in shares)		124,000
Shares issued from release of Restricted Stock Units	(7,553)	$ 1	(7,554)
Repurchase of common stock (in shares)		(283,000)
Repurchase of common stock	(50,280)							(50,280)
Treasury Stock, Retired, Par Value Method, Amount	0			(50,360)				50,363
Treasury Stock, Shares, Retired		(3,000)
Cash dividends declared on common stock	(35,068)			(35,068)
Ending Balance (in shares) at Sep. 30, 2024		42,164,000
Ending Balance at Sep. 30, 2024	1,856,971	$ 424	311,885	1,606,371	(10,355)		(1,074)	(50,280)
Beginning Balance (in shares) at Jun. 30, 2024		42,163,000
Beginning Balance at Jun. 30, 2024	1,764,801	$ 424	313,323	1,526,192	(24,881)		0	(50,257)
Increase (Decrease) in Stockholders' Equity
Net income	93,519			93,519
Translation adjustment and other, net of tax	26,320				26,320
Pension adjustment, net of tax	(367)				(367)
Cash flow hedges, net of tax	(11,427)				(11,427)
Stock-based compensation and deferred compensation plan ("DCP") expense	(2,506)		(2,506)
Common stock held in DCP	0		1,074				(1,074)
Change in redemption value of share awards in DCP	(1,533)			(1,533)
Shares issued from release of Restricted Stock Units (in shares)		1,000
Shares issued from release of Restricted Stock Units	(6)		(6)
Repurchase of common stock (in shares)		0
Repurchase of common stock	(23)							(23)
Cash dividends declared on common stock	(11,807)			(11,807)
Ending Balance (in shares) at Sep. 30, 2024		42,164,000
Ending Balance at Sep. 30, 2024	$ 1,856,971	$ 424	$ 311,885	$ 1,606,371	$ (10,355)		$ (1,074)	$ (50,280)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share	$ 0.28	$ 0.27	$ 0.83	$ 0.80

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 266,778	$ 299,185
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of assets and other	(460)	(505)
Depreciation and amortization	60,979	54,224
Noncash lease expense	11,902	10,329
Release of acquisition related tax and legal contingency	(1,830)	0
Loss in equity method investment, before tax	645	531
Deferred income taxes	(9,189)	(10,829)
Noncash compensation related to stock plans and changes in the fair value of DCP	16,017	17,789
Provision for doubtful accounts	70	879
Deferred hedge gain	(2,556)	(3,095)
Changes in operating assets and liabilities
Trade accounts receivable	(73,474)	(85,156)
Inventories	(28,066)	50,219
Other current assets	(7,848)	438
Trade accounts payable	6,085	(3,471)
Income taxes payable	520	79,542
Accrued liabilities and other current liabilities	(4,168)	2,583
Other noncurrent assets and liabilities	(13,040)	(14,486)
Net cash provided by operating activities	222,365	398,177
Cash flows from investing activities
Capital expenditures	(124,848)	(57,483)
Acquisitions, net of cash (see Note 3)	(77,641)	(17,525)
Purchases of equity investments	(1,495)	(712)
Proceeds from sale of property and equipment	1,869	622
Proceeds from sale of business	0	8,544
Net cash used in investing activities	(202,115)	(66,554)
Cash flows from financing activities
Repurchase of common stock	(50,000)	0
Proceeds from line of credit	1,296	264
Repayments of line of credit and term loan	(20,080)	(17,362)
Dividends paid	(34,694)	(33,679)
Cash paid on behalf of employees for shares withheld	(7,554)	(7,398)
Net cash used in financing activities	(111,032)	(58,175)
Effect of exchange rate changes on cash and cash equivalents	387	(3,184)
Net increase (decrease) in cash and cash equivalents	(90,395)	270,264
Cash and cash equivalents at beginning of period	429,822	300,742
Cash and cash equivalents at end of period	339,427	571,006
Noncash activity during the period
Noncash capital expenditures	6,294	4,150
Dividends declared but not paid	$ 11,806	$ 11,518

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 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 the 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 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 nine months ended September 30, 2024 are outlined in the table below: December 31, 2023 Expense (Deductions), net Write-Offs 1 September 30, 2024 Allowance for doubtful accounts $ 3,882 69 (899) $ 3,052 1 Amount is net of recoveries and the effect o f 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 the Company's investments and liabilities in the deferred compensation plan are classified as Level 1 within the fair value hierarchy, and are subject to investment risks. 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 inpu ts 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 September 30, 2024 and 2023: 2024 2023 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents (1) $ 53,688 $ — $ — $ 334,633 $ — $ — Term loan due 2027 (2) $ — $ 393,750 $ — $ — $ 416,250 $ — Revolver due 2027 (2) $ — $ 75,038 $ — $ — $ 150,038 $ — Derivative instruments - assets (3) $ — $ 14,199 $ — $ — $ 42,769 $ — Derivative instruments - liabilities (3) $ — $ 30,059 $ — $ — $ 9,327 $ — Investment in deferred compensation plan (4) $ 896 $ — $ — $ — $ — $ — Deferred compensation plan liabilities (4) $ 2,053 $ — $ — $ — $ — $ — Contingent considerations $ — $ — $ 6,587 $ — $ — $ 5,400 (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 September 30, 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 September 30, 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 8. (4) Non-qualified deferred compensation plan. 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. Deferred Compensation Plan The Company established a non-qualified deferred compensation plan ("DCP" or “the Plan”) in April 2023 for eligible employees and members of the Board of Directors. The Plan provides eligible participants the opportunity to defer and invest a specified percentage of their compensation, including the Company stock awards upon vesting. The Plan is a non-qualified plan that is informally funded by assets in a rabbi trust, which restricts the Company's use and access to the assets held but is subject to the claims of the Company's creditors in the event that the Company becomes insolvent. The amount of compensation to be deferred by participants are based on their own elections and are adjusted for any investment changes that the participants direct. This plan does not provide for employer contributions. The Plan permits diversification of vested shares (common stock) into other equity securities subject to a six-month holding period subsequent to vesting. Accounting for deferred common stock will be under either plan C or plan D. Accounting will depend on whether or not the employee has diversified the common stock. Under plan C, diversification is permitted but the employee has not diversified. Under plan D, diversification is permitted and the employee has diversified. For common stock that have not been diversified, the employer stock held in the deferred compensation plan is classified in a manner similar to treasury stock and presented separately on the Condensed Consolidated Balance Sheets as Company common stock held by the non-qualified deferred compensation plan. Common stock will be recorded at fair value of the stock at the time it vested, subsequent changes in the value of the common stock is not recognized. The deferred compensation obligations are measured independently at fair value of the common stock with a corresponding charge or credit to compensation cost. Fair value is determined as the product of the common stock and the closing price of the stock each reporting period. Under plan D, assets held by the rabbi trust are subject to applicable GAAP. The deferred compensation obligation is measured independently at fair value of the underlying assets. The Company previously presented certain DCP transactions within existing financial statement line items of the condensed consolidated balance sheets and condensed consolidated statement of stockholders’ equity for periods ended September 30, 2023 and December 31, 2023. The Company has reflected these DCP transactions related corrections in the accompanying condensed consolidated balance sheets and condensed consolidated statement of stockholders’ equity for the three and nine months ended September 30, 2024. The transactions resulted in reclassifying equity balances related to "Non-qualified deferred compensation plan share awards" as mezzanine equity for $6.0 million and they were combined with stock-based compensation expense in the condensed consolidated statement of stockholders’ equity for the three and nine months ended September 30, 2024. The Company has evaluated the errors both qualitatively and quantitatively and has concluded that they have immaterial impact on the periods presented. 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. Refer to Note 3 for more information. Revenue Recognition Generally, the Company's revenue contract with a customer exists when (1) the goods are shipped, services are rendered, and the related invoice is generated, (2) the duration of the contract does not extend beyond the promised goods or services already transferred and (3) the transaction price of each distinct promised product or service specified in the invoice is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control 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). Contract liability is recorded when consideration is received from a customer and the Company has remaining unsatisfied performance obligations. 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. Refer to Note 2 for additional information. 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	9 Months Ended
Revenue from Contracts with Customers	Sep. 30, 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 1 Wood Construction Products Revenue . Wood construction products represented approximately 84.6% and 85.4% of total net sales for the nine months ended September 30, 2024 and 2023, respectively. Concrete Construction Products Revenue. Concrete construction products represented approximately 14.7% and 14.1% of total net sales for the nine months ended September 30, 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 approximately 0.7% of total 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. Contract liabilities consist of billings in excess of costs and earnings and other deferred revenue on cancellable contracts. The time period between when consideration was received to when performa nce obligations are complete may not be significant. As of September 30, 2024 and 2023, the Company's contract liability was $10.3 million and immaterial, respectively. During the nine months ended September 30, 2024, the Company recognized $1.6 million of contract lia bility as income from the opening balance. The Company had no material contract assets from contract with customers.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2024
Business Combinations [Abstract]
Acquisitions	Acquisitions On June 1, 2024, the Company completed the acquisition of all of the operating assets and assumed liabilities of Calculated Structured Designs, Inc. ("CSD"), a software development company providing solutions for the engineered wood, engineering, design and building industries in North America, Australia and the UK. On August 1, 2024, the Company completed the acquisition of all of the operating assets and assumed liabilities of Monet DeSauw Inc. and certain properties of Callaway Properties, LLC (together with its subsidiaries, “Monet”) for a total purchase consideration of approximately $59 million net of cash received and liabilities assumed. Monet specializes in the production of large-scale saws and material handling equipment for the truss industry in the United States. On September 1, 2024, the Company completed the acquisition of all of the operating assets and assumed liabilities of QuickFrames USA, LLC, a manufacturer of pre-engineered structural support systems for commercial construction with sales in North America. These business acquisitions were not material to the Company's consolidated financial statements, individually and in aggregate. Accordingly, pro-forma historical results of operations related to these business acquisitions during the quarter ended September 30, 2024 have not been presented. The Company has included the financial results of these business acquisitions in its consolidated financial statements from their respective acquisition dates. The following table summarizes the Company's preliminary purchase price allocations of assets acquired and liabilities assumed as of the acquisition dates for the nine months ended September 30, 2024, including the related estimated useful lives, where applicable: Amounts (in thousands) Estimated Useful Lives (in years) Net working capital $ 2,915 Property, plant, and equipment 396 1 - 5 Intangible assets 6 Customer relationships 14,478 7 Developed technology 27,786 5 - 10 Tradename and other 1,305 10 Goodwill 42,870 Liabilities assumed (10,482) Total net assets acquired and liabilities assumed $ 79,268 The valuations of assets acquired and liabilities assumed had not yet been finalized as of September 30, 2024, and finalization of the valuations during the measurement period could result in a change in the amounts recorded. The completion of the valuations will occur no later than one year from the acquisition dates as required by GAAP. The amount of goodwill generated from these acquisitions is deductible for tax purposes.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Sep. 30, 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 Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net income available to common stockholders $ 93,519 $ 104,021 $ 266,778 $ 299,185 Basic weighted-average shares outstanding 42,151 42,673 42,254 42,651 Dilutive effect of potential common stock equivalents 184 209 210 242 Diluted weighted-average shares outstanding 42,335 42,882 42,464 42,893 Net earnings per common share: Basic $ 2.22 $ 2.44 $ 6.31 $ 7.01 Diluted $ 2.21 $ 2.43 $ 6.28 $ 6.98

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 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 of 1933. 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 $4.7 million and $6.6 million for the three months ended September 30, 2024 and 2023, respectively, and $15.1 million and $17.8 million for the nine months ended September 30, 2024 and 2023, respectively. During the nine months ended September 30, 2024, the Company granted an aggregate of 161,054 RSUs and PSUs to the Company's employees, including officers at an estimated weighted-average fair value of $177.60 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. The Company’s seven non-employee directors are entitled to receive an aggregate of approximately $0.9 million in equity compensation annually under the Company's non-employee director compensation program. The number of shares ultimately granted are based on the average closing share price for the Company's common stock over the 60 day period prior to approval of the award in the second quarter of each year. In May 2024, the Company granted 4,692 shares of the Company's common stock to the non-employee directors, based on the average closing price of $173.89 per share and recognized $0.8 million of expense.

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net	9 Months Ended
Trade Accounts Receivable, Net	Sep. 30, 2024
Receivables [Abstract]
Trade Accounts Receivable, Net	Trade Accounts Receivable, net Trade accounts receivable consisted of the following: As of September 30, As of December 31, (in thousands) 2024 2023 2023 Trade accounts receivable $ 368,445 $ 360,233 $ 292,360 Allowance for doubtful accounts (3,052) (3,901) (3,881) Allowance for sales discounts and returns (5,043) (5,168) (4,504) $ 360,350 $ 351,164 $ 283,975

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories are as follows: As of September 30, As of December 31, (in thousands) 2024 2023 2023 Raw materials $ 195,077 $ 144,268 $ 167,177 In-process products 57,657 52,633 57,432 Finished products 330,646 307,545 326,966 $ 583,380 $ 504,446 $ 551,575

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Sep. 30, 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 September 30, 2024, the aggregate notional amount of the Company's outstanding interest rate contracts, cross currency swap contracts, and EUR forward contract were $393.8 million, $412.8 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 nine months ended September 30, 2024 and September 30, 2023. The effects of fair value and cash flow hedge accounting on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the nine months ended September 30, 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 $ 916,551 $ 4,111 $ 352 $ 888,835 $ 18 $ (1,471) 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 — 9,303 — — 11,409 — Cross currency swap contract Amount of gain or (loss) reclassified from OCI to earnings — 3,433 (4,900) — 4,088 6,508 Forward contract Amount of gain (loss) reclassified from OCI to earnings (188) — — 60 — — The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended September 30, 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 $ (7,000) $ 4,959 Interest expense $ 3,067 $ 4,302 Cross currency contracts (13,285) 12,156 Interest expense 898 1,483 Forward contracts — (122) FX gain (loss) (19,134) 11,753 Cost of goods sold — (20) Total $ (20,285) $ 16,993 $ (15,169) $ 17,518 The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the nine months ended September 30, 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 $ 2,173 $ 11,505 Interest expense $ 9,303 $ 11,409 Cross currency contracts 3,048 4,137 Interest expense 3,433 4,088 Forward contracts — (535) FX gain (loss) (4,900) 6,508 Cost of goods sold (188) 60 Total $ 5,221 $ 15,107 $ 7,648 $ 22,065 For the three months ending September 30, 2024 and September 30, 2023 losses on the net investment hedge of $8.8 million and $3.2 million were included in OCI, respectively. For the three months ending September 30, 2024 and September 30, 2023, excluded gains of $1.3 million and $1.3 million were reclassified from OCI to interest expense, respectively. For the nine months ending September 30, 2024 and September 30, 2023 gains on the net investment hedge of $1.0 million and $1.1 million were included in OCI, respectively. For the nine months ending September 30, 2024 and September 30, 2023, excluded gains of $3.8 million and $3.8 million were reclassified from OCI to interest expense, respectively. As of September 30, 2024, the aggregate fair values of the Company’s derivative instruments on the Condensed Consolidated Balance Sheet were comprised of an asset of $14.2 million, of which $10.4 million is included in other current assets, and the balance of $3.8 million as other non-current assets, and of a non-current liability of $30.1 million included as deferred income tax and other long-term liabilities.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	9 Months Ended
Property, Plant and Equipment, Net	Sep. 30, 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 September 30, As of December 31, (in thousands) 2024 2023 2023 Land $ 62,332 $ 50,995 $ 62,587 Buildings and site improvements 249,921 233,694 246,021 Leasehold improvements 10,899 7,690 7,782 Machinery and equipment 562,199 496,999 516,017 885,351 789,378 832,407 Less: accumulated depreciation and amortization (514,009) (460,625) (474,974) 371,342 328,753 357,433 Capital projects in progress 124,480 53,755 61,179 Total $ 495,822 $ 382,508 $ 418,612

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets, net Goodwill by segment were as follows: As of September 30, As of December 31, (in thousands) 2024 2023 2023 North America $ 144,369 $ 101,487 $ 101,558 Europe 405,257 380,699 399,693 Asia/Pacific 1,320 1,227 1,299 Total $ 550,946 $ 483,413 $ 502,550 Definite-lived and indefinite-lived assets, net, by segment were as follows: As of September 30, 2024 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 107,561 $ (37,131) $ 70,430 Europe 389,148 (67,801) 321,347 Asia/Pacific 4,296 (556) 3,740 Total $ 501,005 $ (105,488) $ 395,517 As of September 30, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 64,189 $ (32,876) $ 31,313 Europe 369,827 (48,510) 321,317 Asia/Pacific 4,025 (205) 3,820 Total $ 438,041 $ (81,591) $ 356,450 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 $6.6 million and $5.9 million for the three months ended September 30, 2024 and 2023, respectively, and was $18.0 million and $17.5 million for the nine months ended September 30, 2024 and 2023, respectively. The weighted-average amortization period for all amortizable intangibles on a combined basis is 9.5 years. Indefinite-lived intangible assets totaled $95.7 million, $90.4 million, and $94.2 million as of September 30, 2024, and 2023 and December 31, 2023, respectively. At September 30, 2024, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2024 $ 7,513 2025 29,204 2026 28,552 2027 28,369 2028 28,619 Thereafter 177,498 $ 299,755 The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2024, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2023 $ 502,550 $ 365,339 Acquisitions 1 42,870 43,372 Amortization — (17,965) Foreign exchange 5,526 4,771 Balance at September 30, 2024 $ 550,946 $ 395,517

Leases

Leases	9 Months Ended
Leases	Sep. 30, 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 2039, 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 September 30, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 87,097 $ 66,144 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 18,094 $ 13,617 $ 14,954 Operating - noncurrent Operating lease liabilities 70,496 53,808 55,324 Total operating lease liabilities $ 88,590 $ 67,425 $ 70,278 The components of lease expense were as follows: Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item Three Months Ended September 30, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 5,599 $ 4,434 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5,559 $ 4,166 Operating right-of-use assets obtained in exchange for new lease 5,862 6,437 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2024: (in thousands) Operating Leases Remaining three months of 2024 $ 5,741 2025 22,015 2026 18,613 2027 14,388 2028 12,501 2029 10,164 Thereafter 21,061 Total lease payments 104,483 Less: Present value discount (15,893) Total lease liabilities $ 88,590 The following table summarizes the Company's operating lease terms and discount rates as of September 30, 2024 and 2023: 2024 2023 Weighted-average remaining lease terms (in years) 6.5 5.9 Weighted-average discount rate 5.1 % 4.8 %
Leases	Leases The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2039, 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 September 30, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 87,097 $ 66,144 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 18,094 $ 13,617 $ 14,954 Operating - noncurrent Operating lease liabilities 70,496 53,808 55,324 Total operating lease liabilities $ 88,590 $ 67,425 $ 70,278 The components of lease expense were as follows: Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item Three Months Ended September 30, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 5,599 $ 4,434 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5,559 $ 4,166 Operating right-of-use assets obtained in exchange for new lease 5,862 6,437 The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2024: (in thousands) Operating Leases Remaining three months of 2024 $ 5,741 2025 22,015 2026 18,613 2027 14,388 2028 12,501 2029 10,164 Thereafter 21,061 Total lease payments 104,483 Less: Present value discount (15,893) Total lease liabilities $ 88,590 The following table summarizes the Company's operating lease terms and discount rates as of September 30, 2024 and 2023: 2024 2023 Weighted-average remaining lease terms (in years) 6.5 5.9 Weighted-average discount rate 5.1 % 4.8 %

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt As of September 30, 2024, the Company had $468.8 million, excluding deferred financing costs, outstanding under its Amended and Restated Credit Facility. The Company had outstanding balances of $566.3 million and $485.7 million under the Amended and Restated Credit Facility as of September 30, 2023, and December 31, 2023, respectively. The following is a schedule, by years, of maturities for the remaining term loan facility as of September 30, 2024: (in thousands) Remaining Periods of Term Loan Remaining three months of 2024 $ 5,625 2025 22,500 2026 22,500 2027 343,125 Total loan outstanding $ 393,750 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 September 30, 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 September 30, 2024, all of the Company's credit facilities provide a total of $381.9 million in available borrowing capacity and an irrevocable standby letter of credit in support of various insurance deductibles.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 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	9 Months Ended
Segment Information	Sep. 30, 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, adjustments related to non-qualified deferred compensation plan, 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Net Sales North America $ 461,356 $ 456,820 $ 1,331,126 $ 1,328,615 Europe 121,170 119,043 370,985 371,074 Asia/Pacific 4,627 4,221 12,599 12,404 Total $ 587,153 $ 580,084 $ 1,714,710 $ 1,712,093 Sales to Other Segments* North America $ 711 $ 1,064 $ 2,410 $ 3,756 Europe 1,032 1,327 3,695 4,399 Asia/Pacific 6,146 8,022 23,716 21,880 Total $ 7,889 $ 10,413 $ 29,821 $ 30,035 Income (Loss) from Operations North America $ 123,253 $ 135,633 $ 354,212 $ 393,456 Europe 12,635 15,450 33,037 42,894 Asia/Pacific 260 477 (617) 718 Administrative and all other (11,294) (11,347) (33,507) (33,472) Total $ 124,854 $ 140,213 $ 353,125 $ 403,596 * Sales to other segments are eliminated upon consolidation. As of As of September 30, December 31, (in thousands) 2024 2023 2023 Total Assets North America $ 2,013,641 $ 1,675,344 $ 1,745,341 Europe 751,419 687,992 716,396 Asia/Pacific 48,618 36,416 38,719 Administrative and all other 83,781 415,735 204,268 Total $ 2,897,459 $ 2,815,487 $ 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 $208.3 million, $465.3 million and $368.6 million, as of September 30, 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 and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Wood construction products $ 494,379 $ 491,308 $ 1,450,972 $ 1,461,442 Concrete construction products 86,715 84,141 251,893 242,133 Other 6,059 4,635 11,845 8,518 Total $ 587,153 $ 580,084 $ 1,714,710 $ 1,712,093

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividend Declared On October 23, 2024, the Company’s Board of Directors (the "Board") declared a quarterly cash dividend of $0.28 per share, estimated to be $11.7 million in total. The dividend will be payable on January 23, 2025, to the Company's stockholders of record on January 2, 2025. Share Repurchase Authorization On October 23, 2024 , the Board authorized the Company to repurchase up to $100.0 million of the Company's common stock, effective January 1, 2025 through December 31, 2025. Share Repurchases From October 1, 2024 to November 5, 2024, the Company repurchased an additional 275,906 shares of the Company’s common stock in the open market at an average price of $181.22 per share, for a total of $50.0 million . As a result, the Company completed purchase of all of $100.0 million of shares that were previously authorized.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 93,519	$ 104,021	$ 266,778	$ 299,185

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 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	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2024	Sep. 30, 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 the 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 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 the Company's investments and liabilities in the deferred compensation plan are classified as Level 1 within the fair value hierarchy, and are subject to investment risks. 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 inpu ts 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. Refer to Note 3 for more information.
Revenue Recognition		Revenue Recognition Generally, the Company's revenue contract with a customer exists when (1) the goods are shipped, services are rendered, and the related invoice is generated, (2) the duration of the contract does not extend beyond the promised goods or services already transferred and (3) the transaction price of each distinct promised product or service specified in the invoice is based on its relative stated standalone selling price. The Company recognizes revenue when it satisfies a performance obligation by transferring control 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). Contract liability is recorded when consideration is received from a customer and the Company has remaining unsatisfied performance obligations. 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. Refer to Note 2 for additional information.
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)	9 Months Ended
Basis of Presentation (Tables)	Sep. 30, 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 September 30, 2024 and 2023: 2024 2023 (in thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash equivalents (1) $ 53,688 $ — $ — $ 334,633 $ — $ — Term loan due 2027 (2) $ — $ 393,750 $ — $ — $ 416,250 $ — Revolver due 2027 (2) $ — $ 75,038 $ — $ — $ 150,038 $ — Derivative instruments - assets (3) $ — $ 14,199 $ — $ — $ 42,769 $ — Derivative instruments - liabilities (3) $ — $ 30,059 $ — $ — $ 9,327 $ — Investment in deferred compensation plan (4) $ 896 $ — $ — $ — $ — $ — Deferred compensation plan liabilities (4) $ 2,053 $ — $ — $ — $ — $ — Contingent considerations $ — $ — $ 6,587 $ — $ — $ 5,400 (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 September 30, 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 September 30, 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 8. (4) Non-qualified deferred compensation plan.
Accounts Receivable, Allowance for Credit Loss	The changes in the allowance for doubtful accounts receivable for the nine months ended September 30, 2024 are outlined in the table below: December 31, 2023 Expense (Deductions), net Write-Offs 1 September 30, 2024 Allowance for doubtful accounts $ 3,882 69 (899) $ 3,052 1 Amount is net of recoveries and the effect o f foreign currency fluctuations.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2024
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the Company's preliminary purchase price allocations of assets acquired and liabilities assumed as of the acquisition dates for the nine months ended September 30, 2024, including the related estimated useful lives, where applicable: Amounts (in thousands) Estimated Useful Lives (in years) Net working capital $ 2,915 Property, plant, and equipment 396 1 - 5 Intangible assets 6 Customer relationships 14,478 7 Developed technology 27,786 5 - 10 Tradename and other 1,305 10 Goodwill 42,870 Liabilities assumed (10,482) Total net assets acquired and liabilities assumed $ 79,268

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 30, 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 Nine Months Ended (in thousands, except per share amounts) 2024 2023 2024 2023 Net income available to common stockholders $ 93,519 $ 104,021 $ 266,778 $ 299,185 Basic weighted-average shares outstanding 42,151 42,673 42,254 42,651 Dilutive effect of potential common stock equivalents 184 209 210 242 Diluted weighted-average shares outstanding 42,335 42,882 42,464 42,893 Net earnings per common share: Basic $ 2.22 $ 2.44 $ 6.31 $ 7.01 Diluted $ 2.21 $ 2.43 $ 6.28 $ 6.98

Trade Accounts Receivable, Net

Trade Accounts Receivable, Net (Tables)	9 Months Ended
Trade Accounts Receivable, Net (Tables)	Sep. 30, 2024
Receivables [Abstract]
Schedule of trade accounts receivable, net	As of September 30, As of December 31, (in thousands) 2024 2023 2023 Trade accounts receivable $ 368,445 $ 360,233 $ 292,360 Allowance for doubtful accounts (3,052) (3,901) (3,881) Allowance for sales discounts and returns (5,043) (5,168) (4,504) $ 360,350 $ 351,164 $ 283,975

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of carrying values of inventories	As of September 30, As of December 31, (in thousands) 2024 2023 2023 Raw materials $ 195,077 $ 144,268 $ 167,177 In-process products 57,657 52,633 57,432 Finished products 330,646 307,545 326,966 $ 583,380 $ 504,446 $ 551,575

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
Derivative Instruments (Tables)	Sep. 30, 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 nine months ended September 30, 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 $ 916,551 $ 4,111 $ 352 $ 888,835 $ 18 $ (1,471) 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 — 9,303 — — 11,409 — Cross currency swap contract Amount of gain or (loss) reclassified from OCI to earnings — 3,433 (4,900) — 4,088 6,508 Forward contract Amount of gain (loss) reclassified from OCI to earnings (188) — — 60 — — The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended September 30, 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 $ (7,000) $ 4,959 Interest expense $ 3,067 $ 4,302 Cross currency contracts (13,285) 12,156 Interest expense 898 1,483 Forward contracts — (122) FX gain (loss) (19,134) 11,753 Cost of goods sold — (20) Total $ (20,285) $ 16,993 $ (15,169) $ 17,518 The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the nine months ended September 30, 2024 and 2023 were as follows:

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	9 Months Ended
Property, Plant and Equipment, Net (Tables)	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	As of September 30, As of December 31, (in thousands) 2024 2023 2023 Land $ 62,332 $ 50,995 $ 62,587 Buildings and site improvements 249,921 233,694 246,021 Leasehold improvements 10,899 7,690 7,782 Machinery and equipment 562,199 496,999 516,017 885,351 789,378 832,407 Less: accumulated depreciation and amortization (514,009) (460,625) (474,974) 371,342 328,753 357,433 Capital projects in progress 124,480 53,755 61,179 Total $ 495,822 $ 382,508 $ 418,612

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
Goodwill and Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill, by segment	Goodwill by segment were as follows: As of September 30, As of December 31, (in thousands) 2024 2023 2023 North America $ 144,369 $ 101,487 $ 101,558 Europe 405,257 380,699 399,693 Asia/Pacific 1,320 1,227 1,299 Total $ 550,946 $ 483,413 $ 502,550
Schedule of net intangible assets, by segment	assets, net, by segment were as follows: As of September 30, 2024 Gross Net Carrying Accumulated Carrying (in thousands) Amount Amortization Amount North America $ 107,561 $ (37,131) $ 70,430 Europe 389,148 (67,801) 321,347 Asia/Pacific 4,296 (556) 3,740 Total $ 501,005 $ (105,488) $ 395,517 As of September 30, 2023 Gross Net (in thousands) Carrying Accumulated Carrying North America $ 64,189 $ (32,876) $ 31,313 Europe 369,827 (48,510) 321,317 Asia/Pacific 4,025 (205) 3,820 Total $ 438,041 $ (81,591) $ 356,450 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 September 30, 2024, the estimated future amortization of definite-lived intangible assets was as follows: (in thousands) Remaining three months of 2024 $ 7,513 2025 29,204 2026 28,552 2027 28,369 2028 28,619 Thereafter 177,498 $ 299,755
Changes in the carrying amount of goodwill and intangible assets	The changes in the carrying amount of goodwill and intangible assets for the nine months ended September 30, 2024, were as follows: Intangible (in thousands) Goodwill Assets Balance at December 31, 2023 $ 502,550 $ 365,339 Acquisitions 1 42,870 43,372 Amortization — (17,965) Foreign exchange 5,526 4,771 Balance at September 30, 2024 $ 550,946 $ 395,517

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Balance Sheet Information	The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of September 30, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023: Condensed Consolidated Balance Sheets Line Item September 30, December 31, (in thousands) 2024 2023 2023 Operating leases Assets Operating leases Operating lease right-of-use assets $ 87,097 $ 66,144 $ 68,792 Liabilities Operating - current Accrued expenses and other current liabilities $ 18,094 $ 13,617 $ 14,954 Operating - noncurrent Operating lease liabilities 70,496 53,808 55,324 Total operating lease liabilities $ 88,590 $ 67,425 $ 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 September 30, (in thousands) 2024 2023 Operating lease cost General administrative expenses and $ 5,599 $ 4,434 Other Information Supplemental cash flow information related to leases is as follows: Three Months Ended September 30, (in thousands) 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5,559 $ 4,166 Operating right-of-use assets obtained in exchange for new lease 5,862 6,437 The following table summarizes the Company's operating lease terms and discount rates as of September 30, 2024 and 2023: 2024 2023 Weighted-average remaining lease terms (in years) 6.5 5.9 Weighted-average discount rate 5.1 % 4.8 %
Operating Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2024: (in thousands) Operating Leases Remaining three months of 2024 $ 5,741 2025 22,015 2026 18,613 2027 14,388 2028 12,501 2029 10,164 Thereafter 21,061 Total lease payments 104,483 Less: Present value discount (15,893) Total lease liabilities $ 88,590
Finance Lease, Liability, Maturity	The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2024: (in thousands) Operating Leases Remaining three months of 2024 $ 5,741 2025 22,015 2026 18,613 2027 14,388 2028 12,501 2029 10,164 Thereafter 21,061 Total lease payments 104,483 Less: Present value discount (15,893) Total lease liabilities $ 88,590

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 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 September 30, 2024: (in thousands) Remaining Periods of Term Loan Remaining three months of 2024 $ 5,625 2025 22,500 2026 22,500 2027 343,125 Total loan outstanding $ 393,750

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 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 September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Net Sales North America $ 461,356 $ 456,820 $ 1,331,126 $ 1,328,615 Europe 121,170 119,043 370,985 371,074 Asia/Pacific 4,627 4,221 12,599 12,404 Total $ 587,153 $ 580,084 $ 1,714,710 $ 1,712,093 Sales to Other Segments* North America $ 711 $ 1,064 $ 2,410 $ 3,756 Europe 1,032 1,327 3,695 4,399 Asia/Pacific 6,146 8,022 23,716 21,880 Total $ 7,889 $ 10,413 $ 29,821 $ 30,035 Income (Loss) from Operations North America $ 123,253 $ 135,633 $ 354,212 $ 393,456 Europe 12,635 15,450 33,037 42,894 Asia/Pacific 260 477 (617) 718 Administrative and all other (11,294) (11,347) (33,507) (33,472) Total $ 124,854 $ 140,213 $ 353,125 $ 403,596 * Sales to other segments are eliminated upon consolidation. As of As of September 30, December 31, (in thousands) 2024 2023 2023 Total Assets North America $ 2,013,641 $ 1,675,344 $ 1,745,341 Europe 751,419 687,992 716,396 Asia/Pacific 48,618 36,416 38,719 Administrative and all other 83,781 415,735 204,268 Total $ 2,897,459 $ 2,815,487 $ 2,704,724
Schedule of net sales distributed by product group	he following table illustrates the distribution of the Company’s net sales by product group as additional information for the three and nine months ended September 30, 2024 and 2023: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2024 2023 2024 2023 Wood construction products $ 494,379 $ 491,308 $ 1,450,972 $ 1,461,442 Concrete construction products 86,715 84,141 251,893 242,133 Other 6,059 4,635 11,845 8,518 Total $ 587,153 $ 580,084 $ 1,714,710 $ 1,712,093

Basis of Presentation - Account

Basis of Presentation - Accounting for Stock-based Compensation (Details)	9 Months Ended
	Sep. 30, 2024
Stock-Based Compensation
Vesting period	60 days
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	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Inputs, Level 1
Cash and Cash Equivalents [Abstract]
Fair value of cash and cash equivalents	$ 53,688	$ 334,633
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of cash and cash equivalents	53,688	334,633
Long-Term Debt, Fair Value	0	0
Contingent considerations	0	0
Fair Value, Inputs, Level 1 \| Deferred Compensation, Share-Based Payments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Deferred Compensation Arrangements, Liability, Current and Noncurrent	2,053	0
Fair Value, Inputs, Level 1 \| Deferred Bonus and Profit Sharing Arrangement, Individual Contract, Type of Deferred Compensation [Domain]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred Compensation Plan Assets	896	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	393,750	416,250
Contingent considerations	0	0
Fair Value, Inputs, Level 2 \| Deferred Compensation, Share-Based Payments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Deferred Compensation Arrangements, Liability, Current and Noncurrent	0	0
Fair Value, Inputs, Level 2 \| Deferred Bonus and Profit Sharing Arrangement, Individual Contract, Type of Deferred Compensation [Domain]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred Compensation Plan Assets	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		9,327
Fair Value, Inputs, Level 2 \| Deferred Income Tax Charge
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	30,059
Fair Value, Inputs, Level 2 \| Derivative Contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets and liabilities	14,199	42,769
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	6,587	5,400
Fair Value, Inputs, Level 3 \| Deferred Compensation, Share-Based Payments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Deferred Compensation Arrangements, Liability, Current and Noncurrent	0	0
Fair Value, Inputs, Level 3 \| Deferred Bonus and Profit Sharing Arrangement, Individual Contract, Type of Deferred Compensation [Domain]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deferred Compensation Plan Assets	0	0
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 - Deferre

Basis of Presentation - Deferred Compensation Plan (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reclassification of non-qualified deferred compensation expense	$ 6

Basis of Presentation - Accou_2

Basis of Presentation - Accounts Receivable, Allowance for Credit Loss (Details) $ in Thousands	9 Months Ended
	Sep. 30, 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	69
Write-Offs	(899)
Allowance for doubtful accounts, ending balance	$ 3,052

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability	$ 10.3	$ 0
Contract with Customer, Liability, Revenue Recognized	$ (1.6)
Revenue from Contract with Customer Benchmark \| Wood construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	84.60%	85.40%
Revenue from Contract with Customer Benchmark \| Concrete construction products
Disaggregation of Revenue [Line Items]
Percentage of net sales	14.70%	14.10%
Revenue from Contract with Customer Benchmark \| Other
Disaggregation of Revenue [Line Items]
Percentage of net sales	0.70%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	Aug. 01, 2024 USD ($)
Monet DeSauw Inc.
Acquisitions
Purchase consideration	$ 59

Acquisitions - Preliminary Purc

Acquisitions - Preliminary Purchase (Details) - USD ($) $ in Thousands		9 Months Ended
	Sep. 01, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Acquisitions
Goodwill		$ 550,946	$ 502,550	$ 483,413
Estimated Useful Lives (in years)		9 years 6 months
Monet DeSauw Inc.
Acquisitions
Net working capital		$ 2,915
Property, plant, and equipment		396
Goodwill		42,870
Liabilities assumed		(10,482)
Total net assets acquired and liabilities assumed		$ 79,268
Monet DeSauw Inc. \| Minimum
Acquisitions
Estimated Useful Lives (in years)		1 year
Monet DeSauw Inc. \| Maximum
Acquisitions
Estimated Useful Lives (in years)		5 years
Monet DeSauw Inc. \| Customer Relationships [Member]
Acquisitions
Intangible assets		$ 14,478
Estimated Useful Lives (in years)	7 years
Monet DeSauw Inc. \| Developed Technology
Acquisitions
Intangible assets		27,786
Monet DeSauw Inc. \| Developed Technology \| Minimum
Acquisitions
Estimated Useful Lives (in years)	5 years
Monet DeSauw Inc. \| Developed Technology \| Maximum
Acquisitions
Estimated Useful Lives (in years)	10 years
Monet DeSauw Inc. \| Trade Name
Acquisitions
Intangible assets		$ 1,305
Estimated Useful Lives (in years)	10 years

Net Income Per Share - Reconcil

Net Income Per Share - Reconciliation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of basic earnings per share ("EPS") to diluted EPS
Net income available to common stockholders	$ 93,519	$ 104,021	$ 266,778	$ 299,185
Basic weighted-average shares outstanding	42,151	42,673	42,254	42,651
Dilutive effect of potential common stock equivalents	184	209	210	242
Diluted weighted-average shares outstanding	42,335	42,882	42,464	42,893
Net income per common share:
Basic	$ 2.22	$ 2.44	$ 6.31	$ 7.01
Diluted	$ 2.21	$ 2.43	$ 6.28	$ 6.98

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details)	1 Months Ended	3 Months Ended		9 Months Ended
Stock-Based Compensation - Narrative (Details)	May 31, 2024 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) director $ / shares shares	Sep. 30, 2023 USD ($)
Stock-Based Compensation
Stock-based compensation expense		$ 4,700,000	$ 6,600,000	$ 15,100,000	$ 17,800,000
Vesting period				60 days
Unrecognized compensation costs related to unvested share-based compensation arrangements		$ 29,500,000		$ 29,500,000
Weighted-average period for recognition of unrecognized stock-based compensation expense				2 years 3 months 18 days
Number Of Directors \| director				7,000
Share-based Compensation Arrangement by Share-based Payment Award, Description	4,692
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 173.89
Compensation expense	$ 800,000
Restricted Stock Units
Stock-Based Compensation
Awarded (in shares) \| shares				161,054
Weighted average granted date fair value (in dollars per share) \| $ / shares				$ 177.60
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 \| shares		16,300,000		16,300,000
Employees \| Restricted Stock Units
Stock-Based Compensation
Vesting period				4 years
Director [Member]
Stock-Based Compensation
Allocated share based compensation expense				$ 900,000

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Receivables [Abstract]
Trade accounts receivable	$ 368,445	$ 292,360	$ 360,233
Allowance for doubtful accounts	(3,052)	(3,881)	(3,901)
Allowance for sales discounts and returns	(5,043)	(4,504)	(5,168)
Trade accounts receivable, net	$ 360,350	$ 283,975	$ 351,164

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 195,077	$ 167,177	$ 144,268
In-process products	57,657	57,432	52,633
Finished products	330,646	326,966	307,545
Total inventories	$ 583,380	$ 551,575	$ 504,446

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Accrued Interest, OCI	$ 1,300	$ 1,300	$ 3,800	$ 3,800
Fair Value, Inputs, Level 2 \| Derivative Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities	(14,199)	(42,769)	(14,199)	(42,769)
Other Current Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value hedge assets	10,400		10,400
Other Noncurrent Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value hedge assets	3,800		3,800
Interest contracts:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	393,800		393,800
Cross currency swap contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability, Notional Amount	412,800		412,800
Forward contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	321,700		321,700
Foreign Exchange Contract \| Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities		(9,327)		(9,327)
Deferred Income Tax Charge \| Fair Value, Inputs, Level 2
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments, assets and liabilities	(30,059)		(30,059)
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(8,800)	3,200	1,000	(1,100)
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(20,285)	16,993	5,221	15,107
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(15,169)	17,518	7,648	22,065
Cash Flow Hedging \| Interest contracts:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(7,000)	4,959	2,173	11,505
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net			9,303	(11,409)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	3,067	4,302	9,303	11,409
Cash Flow Hedging \| Cross currency swap contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(13,285)	12,156	3,048	4,137
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	898	1,483	3,433	4,088
Cash Flow Hedging \| Forward contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	0	(122)	0	(535)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0	(20)	(188)	60
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	$ (19,134)	$ 11,753	$ (4,900)	$ 6,508

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Effects of Fair Value and Cash Flow Hedge (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other & foreign exchange gain (loss), net	$ (29)	$ (1,429)	$ 352	$ (1,471)
Cost of sales	312,096	297,167	916,551	888,835
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net			(188)	60
Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(20,285)	16,993	$ 5,221	15,107
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			$ (9,303)	11,409
Gain (Loss) Recognized in OCI	(7,000)	4,959	2,173	11,505
Cross currency swap contract \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) Recognized in OCI	(13,285)	12,156	$ 3,048	4,137
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			$ (3,433)	(4,088)
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			(4,900)	6,508
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	$ (122)	$ 0	$ (535)

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment
Property, plant and equipment, gross	$ 885,351	$ 832,407	$ 789,378
Less: accumulated depreciation and amortization	(514,009)	(474,974)	(460,625)
Property, plant and equipment, net	371,342	357,433	328,753
Capital projects in progress	124,480	61,179	53,755
Total	495,822	418,612	382,508
Land
Property, Plant and Equipment
Property, plant and equipment, gross	62,332	62,587	50,995
Buildings and site improvements
Property, Plant and Equipment
Property, plant and equipment, gross	249,921	246,021	233,694
Leasehold improvements
Property, Plant and Equipment
Property, plant and equipment, gross	10,899	7,782	7,690
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	$ 562,199	$ 516,017	$ 496,999

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Carrying amount of goodwill by reportable segment
Goodwill	$ 550,946	$ 502,550	$ 483,413
Goodwill, acquired	42,870
North America
Carrying amount of goodwill by reportable segment
Goodwill	144,369	101,558	101,487
Europe
Carrying amount of goodwill by reportable segment
Goodwill	405,257	399,693	380,699
Asia/Pacific
Carrying amount of goodwill by reportable segment
Goodwill	$ 1,320	$ 1,299	$ 1,227

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 6,600	$ 5,900	$ 17,965	$ 17,500
Estimated Useful Lives (in years)			9 years 6 months
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	501,005	438,041	$ 501,005	438,041	$ 452,862
Accumulated amortization	(105,488)	(81,591)	(105,488)	(81,591)	(87,523)
Net carrying amount	395,517	356,450	395,517	356,450	365,339
Acquisitions			43,372
North America
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	107,561	64,189	107,561	64,189	64,190
Accumulated amortization	(37,131)	(32,876)	(37,131)	(32,876)	(33,740)
Net carrying amount	70,430	31,313	70,430	31,313	30,450
Europe
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	389,148	369,827	389,148	369,827	384,432
Accumulated amortization	(67,801)	(48,510)	(67,801)	(48,510)	(53,493)
Net carrying amount	321,347	321,317	321,347	321,317	330,939
Asia/Pacific
Changes in gross carrying amount of finite-lived intangible assets
Gross carrying amount	4,296	4,025	4,296	4,025	4,240
Accumulated amortization	(556)	(205)	(556)	(205)	(290)
Net carrying amount	$ 3,740	$ 3,820	$ 3,740	$ 3,820	$ 3,950

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Indefinite-lived Intangible Assets [Line Items]
Amortization of intangibles	$ 6,600	$ 5,900	$ 17,965	$ 17,500
Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 95,700	$ 90,400	$ 95,700	$ 90,400	$ 94,200

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Future Amortization (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining three months of 2024	$ 7,513
2025	29,204
2026	28,552
2027	28,369
2028	28,619
Thereafter	177,498
Total	$ 299,755
Estimated Useful Lives (in years)	9 years 6 months

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Carrying Amount of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill
Balance at the beginning of the period			$ 502,550
Foreign exchange			5,526
Balance at the end of the period	$ 550,946	$ 483,413	550,946	$ 483,413
Intangible Assets
Balance at the beginning of the period			365,339
Amortization	(6,600)	(5,900)	(17,965)	(17,500)
Foreign exchange			4,771
Balance at the end of the period	$ 395,517	$ 356,450	395,517	$ 356,450
Goodwill, acquired			$ 42,870

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2024
Leases [Abstract]
Option to extend term	5 years

Leases - Balance Sheet Informat

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Leases [Abstract]
Operating lease right-of-use assets	$ 87,097	$ 68,792	$ 66,144
Operating - current	18,094	14,954	13,617
Operating - noncurrent	70,496	55,324	53,808
Total operating lease liabilities	$ 88,590	$ 70,278	$ 67,425

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost	$ 5,599	$ 4,434

Leases - Cash Flow Information

Leases - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Lease, Cost [Abstract]
Operating cash flows for operating leases	$ 5,559	$ 4,166
Operating right-of-use assets obtained in exchange for new lease liabilities	$ 5,862	$ 6,437

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Operating Leases
Remaining three months of 2024	$ 5,741
2025	22,015
2026	18,613
2027	14,388
2028	12,501
2029	10,164
Thereafter	21,061
Total lease payments	104,483
Less: Present value discount	(15,893)
Total operating lease liabilities	$ 88,590	$ 70,278	$ 67,425

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	6 years 6 months	5 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent	5.10%	4.80%

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	9 Months Ended
Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023
Debt
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 468,800	$ 485,700	$ 566,300
Revolving Credit Facility
Debt
Proceeds from Lines of Credit	381,900
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	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Remaining three months of 2024	$ 5,625
2025	22,500
2026	22,500
2027	343,125
Total loan outstanding	$ 393,750

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Information
Net sales	$ 587,153	$ 580,084	$ 1,714,710	$ 1,712,093
Income (Loss) from Operations	124,854	140,213	353,125	403,596
Total Assets	2,897,459	2,815,487	2,897,459	2,815,487	$ 2,704,724
Cash and cash equivalent	339,427	571,006	339,427	571,006	429,822
Intersegment elimination
Segment Information
Net sales	7,889	10,413	29,821	30,035
North America \| Intersegment elimination
Segment Information
Net sales	711	1,064	2,410	3,756
North America \| Operating Segments
Segment Information
Net sales	461,356	456,820	1,331,126	1,328,615
Income (Loss) from Operations	123,253	135,633	354,212	393,456
Total Assets	2,013,641	1,675,344	2,013,641	1,675,344	1,745,341
Europe \| Intersegment elimination
Segment Information
Net sales	1,032	1,327	3,695	4,399
Europe \| Operating Segments
Segment Information
Net sales	121,170	119,043	370,985	371,074
Income (Loss) from Operations	12,635	15,450	33,037	42,894
Total Assets	751,419	687,992	751,419	687,992	716,396
Asia/Pacific \| Intersegment elimination
Segment Information
Net sales	6,146	8,022	23,716	21,880
Asia/Pacific \| Operating Segments
Segment Information
Net sales	4,627	4,221	12,599	12,404
Income (Loss) from Operations	260	477	(617)	718
Total Assets	48,618	36,416	48,618	36,416	38,719
Administrative and all other \| Administrative and all other
Segment Information
Income (Loss) from Operations	(11,294)	(11,347)	(33,507)	(33,472)
Cash and cash equivalent	208,300	465,300	208,300	465,300	368,600
Administrative and all other \| Operating Segments
Segment Information
Total Assets	$ 83,781	$ 415,735	$ 83,781	$ 415,735	$ 204,268

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Segment Information (Details 2) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales and long-lived assets by geographical area
Net sales	$ 587,153	$ 580,084	$ 1,714,710	$ 1,712,093
Wood construction products
Net sales and long-lived assets by geographical area
Net sales	494,379	491,308	1,450,972	1,461,442
Concrete construction products
Net sales and long-lived assets by geographical area
Net sales	86,715	84,141	251,893	242,133
Other
Net sales and long-lived assets by geographical area
Net sales	$ 6,059	$ 4,635	$ 11,845	$ 8,518

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Thousands	9 Months Ended
Segment Information (Narrative) (Details) $ in Thousands	Sep. 30, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Concentration Risk [Line Items]
Cash and cash equivalents \| $	$ 339,427	$ 429,822	$ 571,006
Number of reportable segments \| segment	3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
Subsequent Events (Details) - USD ($)	Oct. 23, 2024	Nov. 05, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Oct. 19, 2023
Subsequent Event [Line Items]
Cash dividends declared per common share			$ 0.28	$ 0.27	$ 0.83	$ 0.80
Authorized amount							$ 100,000,000
Value of shares repurchased			$ 23,000		$ 50,280,000
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per common share	$ 0.28
Dividends	$ 11,700,000
Authorized amount	$ 100,000,000
Average cost per share repurchased (in dollars per share)		$ 181.22
Repurchased shares (in shares)		275,906
Value of shares repurchased		$ 50,000,000