Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company is organized into three reportable segments. The segments are defined by the regions where the Company’s products are manufactured, marketed and distributed to the Company’s customers. The three regional segments are the North America segment, comprising primarily the United States and Canada, the Europe segment, comprising continental Europe and the United Kingdom, and the Asia/Pacific segment, comprising the Company’s operations in China, Hong Kong, the South Pacific and the Middle East. These segments are similar in several ways, including the types of materials, the production processes, the distribution channels and the product applications.

The Company’s measure of profit or loss for its reportable segments is income (loss) from operations. The reconciling amount between consolidated income before tax and consolidated income from operations is interest income, which is primarily attributed to Administrative and All Other.

The following tables illustrate certain measurements used by management to assess the performance as of or for the following periods: 

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2015			2014			2015			2014
Net Sales
North America	$	183,381		$	168,600		$	333,705		$	305,482
Europe	30,627			35,041			53,414			62,688
Asia/Pacific	2,657			4,269			6,037			8,028
Total	$	216,665		$	207,910		$	393,156		$	376,198
Sales to Other Segments*
North America	$	720		$	963		$	1,604		$	2,093
Europe	92			160			391			626
Asia/Pacific	5,820			4,256			10,664			7,328
Total	$	6,632		$	5,379		$	12,659		$	10,047
Income (Loss) from Operations
North America	$	35,249		$	30,123		$	55,715		$	52,685
Europe	3,328			3,755			1,696			2,836
Asia/Pacific	(1,371		)	(484		)	(2,174		)	(1,636		)
Administrative and all other	(2,197		)	(1,261		)	(3,951		)	(2,147		)
Total	$	35,009		$	32,133		$	51,286		$	51,738

* The sales to other segments are eliminated in consolidation.

					At
	At June 30,				December 31,
(in thousands)	2015		2014		2014
Total Assets
North America	$	716,222	$	659,307	$	679,844
Europe	177,227		205,570		180,005
Asia/Pacific	27,517		29,868		29,552
Administrative and all other	74,891		88,589		83,664
Total	$	995,857	$	983,334	$	973,065

Cash collected by the Company’s United States subsidiaries is routinely transferred into the Company’s cash management accounts and, therefore, has been included in the total assets of “Administrative and all other.” Cash and cash equivalent balances in the “Administrative and all other” segment were $165.0 million, $131.6 million, and $167.4 million, as of June 30, 2015 and 2014, and December 31, 2014, respectively.

The following table illustrates the distribution of the Company’s net sales by product group for the following periods:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2015		2014		2015		2014
Wood Construction Products	$	184,133	$	176,363	$	335,512	$	321,042
Concrete Construction Products	32,375		31,493		57,385		55,031
Other	157		54		259		125
Total	$	216,665	$	207,910	$	393,156	$	376,198

Wood construction products include connectors, truss plates, fastening systems, fasteners and pre-fabricated shearwalls and are used for connecting and strengthening wood-based construction primarily in the residential construction market. Concrete construction products include adhesives, chemicals, mechanical anchors, carbide drill bits, powder actuated tools and fiber reinforcing materials and are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction.