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Segment Information
 6 Months Ended
Jun. 30, 2023
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 its customers. The three reporting segments are the North America segment (comprised primarily of the Company’s operations in the U.S. and Canada), the Europe segment, which includes ETANCO, and the Asia/Pacific segment (comprised of the Company’s operations in Asia and the South Pacific), These segments are similar in several ways, including the types of materials used, the production processes, the distribution channels and the product applications.

The Administrative & All Other line item primarily includes expenses such as self-insured workers compensation claims for employees, stock-based compensation for certain members of management, interest expense, foreign exchange gains or losses and income tax expense, as well as revenues and expenses related to real estate activities.
The following tables illustrate certain measurements used by management to assess the performance of its reportable segments as of or the following periods:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Net Sales    
North America$465,467 $456,410 $871,797 $895,140 
Europe127,817 133,238 252,031 184,689 
Asia/Pacific4,296 3,584 8,182 6,973 
Total$597,580 $593,232 $1,132,010 $1,086,802 
Sales to Other Segments*    
North America$1,524 $1,441 $2,692 $2,575 
Europe1,459 1,271 3,072 2,955 
Asia/Pacific7,956 7,940 13,858 16,506 
Total$10,939 $10,652 $19,622 $22,036 
Income (Loss) from Operations    
North America$143,430 $137,291 $257,823 $273,064 
Europe13,974 5,560 27,444 4,189 
Asia/Pacific379 100 241 664 
Administrative and all other(12,762)(9,875)(22,125)(20,403)
Total$145,021 $133,076 $263,383 $257,514 
            
*    Sales to other segments are eliminated in consolidation.

   At
 As of June 30,December 31,
(in thousands)202320222022
Total Assets   
North America$1,570,275 $1,225,176 $1,393,968 
Europe702,740 689,621 675,634 
Asia/Pacific35,604 34,981 34,599 
Administrative and all other410,730 535,690 399,770 
Total$2,719,349 $2,485,468 $2,503,971 
 
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 $326.5 million, $167.4 million, and $222.5 million, as of June 30, 2023 and 2022, and December 31, 2022, 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 that are used for connecting and strengthening wood-based construction primarily in residential and commercial construction. Its concrete construction products include adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools and reinforcing fiber materials that are used for restoration, protection or strengthening concrete, masonry and steel construction in residential, industrial, commercial and infrastructure construction. The table below illustrates the distribution of the Company’s sales by product group as additional information for the following periods:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2023202220232022
Wood construction products$515,378 $514,832 $970,137 $950,191 
Concrete construction products81,319 78,209 157,990 136,185 
Other883 191 3,883 426 
Total$597,580 $593,232 $1,132,010 $1,086,802