| Summary of Operating Segments |
The following is the Company’s segment information: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Operating Income | | (Millions of US dollars) | | Siding & Trim | | Deck, Rail & Accessories | | Australia & New Zealand | | Europe | | Total | For the year ended March 31, 2026 | | | | | | | | | | Net sales | | $ | 2,963.1 | | | $ | 795.2 | | | $ | 520.6 | | | $ | 556.9 | | | $ | 4,835.8 | | | Cost of goods sold | | 1,844.9 | | | 579.9 | | | 298.1 | | | 383.3 | | | 3,106.2 | | | Gross profit | | 1,118.2 | | | 215.3 | | | 222.5 | | | 173.6 | | | 1,729.6 | | | Selling, general and administrative expenses | | 373.6 | | | 222.3 | | | 62.4 | | | 117.4 | | | 775.7 | | | Restructuring expenses | | 35.6 | | | 3.4 | | | 1.4 | | | — | | | 40.4 | | Other expenses 1 | | 47.1 | | | 7.3 | | | 4.8 | | | 4.0 | | | 63.2 | | | Segment operating income (loss) | | $ | 661.9 | | | $ | (17.7) | | | $ | 153.9 | | | $ | 52.2 | | | $ | 850.3 | | | | | | | | | | | | | | Reconciliation to consolidated net income | | | | | | | | | | | General Corporate costs 2, 3 | | | | | | | | | | (402.7) | | | Interest, net | | | | | | | | | | (231.1) | | | Other expense, net | | | | | | | | | | (9.8) | | | Income tax expense | | | | | | | | | | (102.7) | | | Consolidated net income | | | | | | | | | | $ | 104.0 | |
____________ 1.Other expenses represent R&D costs and acquisition related expenses allocated to the segments. 2.Includes acquisition related expenses. 3.Starting July 1, 2025, the Company began allocating R&D costs to the segments. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Operating Income | | (Millions of US dollars) | | Siding & Trim | | Australia & New Zealand | | Europe | | Total | For the year ended March 31, 2025 | | | | | | | | Net sales | | $ | 2,863.3 | | | $ | 519.9 | | | $ | 494.3 | | | $ | 3,877.5 | | | Cost of goods sold | | 1,721.4 | | | 301.2 | | | 349.9 | | | 2,372.5 | | | Gross profit | | 1,141.9 | | | 218.7 | | | 144.4 | | | 1,505.0 | | | Selling, general and administrative expenses | | 291.7 | | | 56.0 | | | 104.0 | | | 451.7 | | | Restructuring expenses | | — | | | 50.3 | | | — | | | 50.3 | | Other expenses 1 | | 9.3 | | | 1.4 | | | 2.4 | | | 13.1 | | | Segment operating income | | $ | 840.9 | | | $ | 111.0 | | | $ | 38.0 | | | $ | 989.9 | | | | | | | | | | | | Reconciliation to consolidated net income | | | | | | | | | General Corporate 2 and Unallocated R&D costs | | | | | | | | (334.0) | | | Interest, net | | | | | | | | (10.3) | | | Other expense, net | | | | | | | | (0.2) | | | Income tax expense | | | | | | | | (221.4) | | | Consolidated net income | | | | | | | | $ | 424.0 | | | | | | | | | | | For the year ended March 31, 2024 | | | | | | | | Net sales | | $ | 2,891.4 | | | $ | 562.8 | | | $ | 482.1 | | | $ | 3,936.3 | | | Cost of goods sold | | 1,674.8 | | | 335.4 | | | 337.7 | | | 2,347.9 | | | Gross profit | | 1,216.6 | | | 227.4 | | | 144.4 | | | 1,588.4 | | | Selling, general and administrative expenses | | 287.1 | | | 60.0 | | | 96.1 | | | 443.2 | | Other expenses 1 | | 8.4 | | | 1.3 | | | 3.3 | | | 13.0 | | | Segment operating income | | $ | 921.1 | | | $ | 166.1 | | | $ | 45.0 | | | $ | 1,132.2 | | | | | | | | | | | | Reconciliation to consolidated net income | | | | | | | | | | General Corporate and Unallocated R&D costs | | | | | | | | (364.8) | | | Interest, net | | | | | | | | (15.3) | | | Other income, net | | | | | | | | 2.7 | | | Income tax expense | | | | | | | | (244.6) | | | Consolidated net income | | | | | | | | $ | 510.2 | | ____________1.Other expenses represent R&D costs allocated to the segments. 2.Includes acquisition related expenses. | | | | | | | | | | | | | | | | | | | | | | | Depreciation and Amortization Years ended March 31 | | (Millions of US dollars) | | 2026 | | 2025 | | 2024 | | Siding & Trim | | $ | 230.9 | | | $ | 160.7 | | | $ | 133.8 | | | Deck, Rail & Accessories | | 202.4 | | | — | | | — | | | Australia & New Zealand | | 22.4 | | | 19.2 | | | 17.0 | | | Europe | | 30.0 | | | 32.4 | | | 29.7 | | | General Corporate and R&D | | 7.8 | | | 3.9 | | | 4.5 | | | Total | | $ | 493.5 | | | $ | 216.2 | | | $ | 185.0 | |
| | | | | | | | | | | | | | | | | | | | | | | Capital Expenditures Years ended March 31 | | (Millions of US dollars) | | 2026 | | 2025 | | 2024 | | Siding & Trim | | $ | 220.1 | | | $ | 287.2 | | | $ | 298.1 | | | Deck, Rail & Accessories | | 46.7 | | | — | | | — | | | Australia & New Zealand | | 60.5 | | | 53.1 | | | 47.8 | | | Europe | | 46.6 | | | 74.3 | | | 89.7 | | | General Corporate and R&D | | 10.0 | | | 7.6 | | | 13.7 | | | Total | | $ | 383.9 | | | $ | 422.2 | | | $ | 449.3 | |
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| Summary of Geographical Information |
The following is the Company’s geographical information: | | | | | | | | | | | | | | | | | | | | | | | | Net Sales Years Ended March 31 | | (Millions of US dollars) | | 2026 | | 2025 | | 2024 | | United States of America | | $ | 3,544.5 | | | $ | 2,707.2 | | | $ | 2,743.7 | | | Australia | | 423.3 | | | 401.1 | | | 403.8 | | | Canada | | 213.8 | | | 156.1 | | | 147.7 | | | Germany | | 163.9 | | | 142.9 | | | 140.5 | | | New Zealand | | 97.3 | | | 92.6 | | | 87.7 | | Other Countries 1 | | 393.0 | | | 377.6 | | | 412.9 | | | Total | | $ | 4,835.8 | | | $ | 3,877.5 | | | $ | 3,936.3 | |
| | | | | | | | | | | | | | | | | Long-Lived Assets March 31 | | (Millions of US dollars) | | 2026 | | 2025 | | United States of America | | $ | 2,607.8 | | | $ | 1,627.7 | | | Australia | | 270.9 | | | 231.9 | | | Germany | | 155.4 | | | 143.2 | | | Spain | | 219.2 | | | 187.1 | | Other Countries 2 | | 65.5 | | | 52.2 | | Total 3 | | $ | 3,318.8 | | | $ | 2,242.1 | |
____________ 1Included are all other countries that account for less than 5% of net sales individually, primarily in Great Britain, Switzerland, Denmark, the Netherlands, France and other European countries. 2Included are all other countries that account for less than 5% of long-lived assets individually, primarily in the Netherlands, New Zealand, and Great Britain. 3Long-lived assets include Property, plant and equipment and ROU assets.
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