v3.25.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Sales to External Customers Wood Products and BMD segment sales to external customers, including related parties, by product line are as follows:
Year Ended December 31
202420232022
(millions)
Wood Products (a)
LVL (b)$64.0 $46.7 $21.2 
I-joists (b)41.4 29.6 (2.3)
Other engineered wood products (b)27.0 33.4 43.9 
Plywood and veneer281.0 353.2 493.2 
Lumber 54.2 86.0 78.9 
Byproducts66.1 85.9 84.3 
Other24.1 25.0 24.4 
557.8 659.7 743.7 
Building Materials Distribution  
Commodity2,207.7 2,335.7 3,432.3 
General line2,615.7 2,443.2 2,542.7 
Engineered wood products1,343.1 1,399.6 1,668.6 
6,166.5 6,178.5 7,643.6 
$6,724.3 $6,838.2 $8,387.3 
  ___________________________________ 

(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 years ended December 31, 2024, 2023, and 2022, approximately 75%, 78%, and 77%, respectively, of Wood Products' EWP sales volumes were to our BMD segment.
Schedule of Segment Information
An analysis of our operations by segment is as follows:
 Year Ended December 31
 202420232022
 (thousands)
Wood Products
Sales$1,832,317 $1,932,602 $2,115,896 
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)1,446,555 1,432,745 1,405,417 
Other segment items (b)61,105 64,015 62,004 
Depreciation and amortization93,203 98,710 73,308 
1,600,863 1,595,470 1,540,729 
Segment income from operations$231,454 $337,132 $575,167 
Building Materials Distribution
Sales$6,166,493 $6,178,690 $7,643,615 
Less:
Materials, labor, and other operating expenses (excluding depreciation) (a)5,221,945 5,249,211 6,438,103 
Selling and distribution expenses551,874 514,513 512,111 
Other segment items (b)39,755 46,805 39,305 
Depreciation and amortization49,534 32,353 27,005 
5,863,108 5,842,882 7,016,524 
Segment income from operations$303,385 $335,808 $627,091 
Reconciliation of sales
Wood Products$1,832,317 $1,932,602 $2,115,896 
Building Materials Distribution6,166,493 6,178,690 7,643,615 
Intersegment eliminations (c)(1,274,516)(1,273,047)(1,372,204)
Total net sales$6,724,294 $6,838,245 $8,387,307 
Reconciliation of income
Wood Products$231,454 $337,132 $575,167 
Building Materials Distribution303,385 335,808 627,091 
Unallocated corporate costs (d)(44,801)(48,554)(44,409)
Income from operations$490,038 $624,386 $1,157,849 
Interest expense(24,067)(25,496)(25,412)
Interest income39,139 48,106 12,263 
Other unallocated items (e)(3,351)(1,947)1,681 
Income before income taxes$501,759 $645,049 $1,146,381 
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(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. During 2024, 2023, and 2022, approximately 70%, 66%, and 65%, respectively, of Wood Products' overall sales were 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.
 December 31
 20242023
 (thousands)
Assets
Wood Products$1,145,555 $1,083,517 
Building Materials Distribution1,524,214 1,440,123 
Corporate699,614 935,006 
Total assets$3,369,383 $3,458,646 

 Year Ended December 31
 202420232022
 (thousands)
Capital expenditures
Wood Products (a)$121,870 $59,360 $51,934 
Building Materials Distribution (a)(b)107,593 155,724 60,463 
Corporate106 354 1,720 
Total capital expenditures$229,569 $215,438 $114,117 
__________________ 

(a)Capital spending in 2023 for our BMD segment excludes $162.8 million of consideration paid, net of cash acquired, for the BROSCO acquisition. For more information, see Note 6, Acquisitions. Capital spending in 2022 for our Wood Products segment excludes $515.2 million for the acquisition of two plywood facilities.

(b)Capital spending in 2024 for our BMD segment includes approximately $25 million to purchase previously leased properties in Westfield, Massachusetts and Chicago, Illinois. Capital spending in 2023 for our BMD segment includes approximately $74 million to purchase a facility in Kansas City, Missouri, to house a new door and millwork location, as well as the purchase of facilities in West Palm Beach, Florida and Modesto, California to expand or relocate existing distribution centers. Capital spending in 2022 for our BMD segment includes approximately $13 million to purchase a previously leased property in Milton, Florida.