v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We operate our business using two reportable segments: Wood Products and BMD. There are no differences in our basis of measurement of segment profit or loss from those disclosed in Note 15, Segment Information, of the Notes to Consolidated Financial Statements in "Item 8. Financial Statements and Supplementary Data" in our 2024 Form 10-K.    

    Wood Products and BMD segment sales to external customers, including related parties, by product line, are as follows:
Three Months Ended
June 30		Six Months Ended
June 30
2025202420252024
(millions)
Wood Products (a)
LVL (b)$14.3 $12.6 $31.0 $25.2 
I-joists (b)8.7 9.5 19.9 16.2 
Other engineered wood products (b)5.7 8.3 12.5 16.4 
Plywood and veneer61.6 75.3 121.4 149.8 
Lumber12.6 13.2 25.2 28.4 
Byproducts15.8 18.4 31.5 35.5 
Other6.5 5.1 13.0 11.3 
125.2 142.5 254.6 282.9 
Building Materials Distribution  
Commodity551.8 578.8 1,068.7 1,131.8 
General line733.7 702.5 1,333.5 1,319.4 
Engineered wood products329.4 373.9 619.9 709.0 
1,614.9 1,655.2 3,022.0 3,160.2 
$1,740.1 $1,797.7 $3,276.6 $3,443.1 
 ___________________________________  

(a)    Amounts represent sales to external customers. Sales are calculated after intersegment sales eliminations to our BMD segment.

(b)    Sales of EWP to external customers are net of the cost of all EWP rebates and sales allowances provided at various stages of the supply chain (including distributors, dealers, and homebuilders). For the six months ended June 30, 2025 and 2024, approximately 74% and 77%, respectively, of Wood Products' EWP sales volumes were to our BMD segment.
An analysis of our operations by segment is as follows:
 Three Months Ended
June 30		Six Months Ended
June 30
 2025202420252024
 (thousands)
Wood Products
Sales$447,235 $489,823 $863,080 $958,751 
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)398,451 378,920 760,697 736,641 
Other segment items (b)11,492 15,853 24,896 31,438 
Depreciation and amortization23,316 22,270 45,802 46,654 
433,259 417,043 831,395 814,733 
Segment income from operations$13,976 $72,780 $31,685 $144,018 
Building Materials Distribution
Sales$1,614,915 $1,655,221 $3,022,031 $3,160,242 
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)1,365,755 1,409,510 2,566,695 2,687,931 
Selling and distribution expenses150,865 138,716 283,964 272,330 
Other segment items (b)6,447 9,854 16,745 19,270 
Depreciation and amortization13,815 11,741 28,177 22,848 
1,536,882 1,569,821 2,895,581 3,002,379 
Segment income from operations$78,033 $85,400 $126,450 $157,863 
Reconciliation of sales
Wood Products$447,235 $489,823 $863,080 $958,751 
Building Materials Distribution1,614,915 1,655,221 3,022,031 3,160,242 
Intersegment eliminations (c)(322,036)(347,374)(608,503)(675,903)
Total net sales$1,740,114 $1,797,670 $3,276,608 $3,443,090 
Reconciliation of income
Wood Products $13,976 $72,780 $31,685 $144,018 
Building Materials Distribution78,033 85,400 126,450 157,863 
Unallocated corporate costs (d)(11,479)(11,199)(23,086)(21,918)
Income from operations$80,530 $146,981 $135,049 $279,963 
Interest expense(5,183)(6,105)(10,495)(12,175)
Interest income4,623 10,543 10,133 21,140 
Other unallocated items (e)626 (628)103 (1,184)
Income before income taxes$80,596 $150,791 $134,790 $287,744 
___________________________________ 

(a)    "Materials, labor, and other operating expenses (excluding depreciation)" for our Wood Products segment are the costs associated with Wood Products' manufacturing processes, including wood fiber, labor, glues and resins, energy, operating supplies,
maintenance materials, freight, and other manufacturing costs. Substantially all costs included in "Materials, labor, and other operating expenses (excluding depreciation)" for our BMD segment are for inventory purchased for resale.

(b)    Other segment items for our Wood Products segment includes selling and distribution expenses, general and administrative expenses, and other income (expense). Other segment items for our BMD segment includes general and administrative expenses and other income (expense).

(c)    Primarily represents intersegment sales from our Wood Products segment to our BMD segment.

(d)    Unallocated corporate costs include corporate support staff services, and related assets and liabilities. Support services include, but are not limited to, information technology, human resources, finance, accounting, and legal functions.

(e)    Other unallocated items include foreign exchange gains and losses, pension expense (excluding service costs) and the change in fair value of interest rate swaps.

 June 30,
2025		December 31,
2024
 (thousands)
Assets
Wood Products$1,199,311 $1,145,555 
Building Materials Distribution1,790,345 1,524,214 
Corporate455,855 699,614 
Total assets$3,445,511 $3,369,383 

 Three Months Ended
June 30		Six Months Ended
June 30
 2025202420252024
 (thousands)
Capital expenditures
Wood Products$39,358 $17,804 $70,047 $37,447 
Building Materials Distribution39,588 21,904 62,019 36,576 
Corporate106 61 191 76 
Total capital expenditures$79,052 $39,769 $132,257 $74,099