Segment Information

3 Months Ended

Mar. 31, 2016

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 expense, 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 March 31,
(in thousands)	2016			2015
Net Sales
North America	$	174,454		$	150,324
Europe	23,698			22,788
Asia/Pacific	1,371			3,379
Total	$	199,523		$	176,491
Sales to Other Segments*
North America	$	573		$	884
Europe	290			299
Asia/Pacific	4,209			4,844
Total	$	5,072		$	6,027
Income (Loss) from Operations
North America	$	30,452		$	20,466
Europe	(1,618		)	(1,632		)
Asia/Pacific	155			(803		)
Administrative and all other	(2,348		)	(1,754		)
Total	$	26,641		$	16,277

* The sales to other segments are eliminated in consolidation.

						At
	At March 31,					December 31,
(in thousands)	2016			2015		2015
Total Assets
North America	$	771,732		$	674,914	$	748,241
Europe	171,352			165,795		168,305
Asia/Pacific	25,915			29,626		24,366
Administrative and all other	(38		)	82,324		20,397
Total	$	968,961		$	952,659	$	961,309

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$153.0 million, $151.2 million, and $164.1 million, as of March 31, 2016 and 2015, and December 31, 2015, respectively.

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

	Three Months Ended March 31,
(in thousands)	2016		2015
Wood Construction Products	$	171,777	$	151,379
Concrete Construction Products	27,745		25,010
Other	1		102
Total	$	199,523	$	176,491

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.