$TREX
TREX CO INC

2017 Q4 Form 10-K Financial Statement

#000119312518052127 Filed on February 21, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $122.2M $140.2M $157.9M
YoY Change 28.21% 32.05% 7.85%
Cost Of Revenue $71.30M $84.91M $85.93M
YoY Change 24.65% 11.4% 1.04%
Gross Profit $50.91M $55.28M $72.01M
YoY Change 33.57% 84.62% 17.27%
Gross Profit Margin 41.65% 39.43% 45.6%
Selling, General & Admin $25.60M $24.92M $27.22M
YoY Change 39.13% 28.59% 9.78%
% of Gross Profit 50.29% 45.07% 37.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.800M $4.600M $3.700M
YoY Change 33.33% 31.43% 2.78%
% of Gross Profit 9.43% 8.32% 5.14%
Operating Expenses $25.60M $24.92M $27.22M
YoY Change 39.13% 28.59% 9.78%
Operating Profit $25.31M $30.37M $44.79M
YoY Change 28.37% 187.38% 22.34%
Interest Expense $100.0K $59.00K $251.0K
YoY Change -23.38% -45.2%
% of Operating Profit 0.4% 0.19% 0.56%
Other Income/Expense, Net
YoY Change
Pretax Income $25.40M $30.31M $44.54M
YoY Change 28.93% 188.93% 23.19%
Income Tax $5.200M $10.21M $15.76M
% Of Pretax Income 20.47% 33.68% 35.38%
Net Earnings $18.30M $20.10M $28.78M
YoY Change 44.9% 158.1% 21.32%
Net Earnings / Revenue 14.97% 14.34% 18.22%
Basic Earnings Per Share $0.31 $0.34 $0.49
Diluted Earnings Per Share $0.31 $0.34 $0.49
COMMON SHARES
Basic Shares Outstanding 58.83M shares 58.81M shares 58.78M shares
Diluted Shares Outstanding 59.22M shares 59.16M shares 59.10M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.50M $25.50M $8.600M
YoY Change 63.1% 11.35% 230.77%
Cash & Equivalents $30.51M $25.54M $8.576M
Short-Term Investments
Other Short-Term Assets $864.0K $722.0K $168.0K
YoY Change 417.37% -48.21% -76.0%
Inventory $34.52M $26.03M $26.94M
Prepaid Expenses $7.494M $3.190M $2.507M
Receivables $66.88M $70.80M $129.9M
Other Receivables $2.300M $1.900M $0.00
Total Short-Term Assets $148.8M $132.9M $168.1M
YoY Change 40.84% 33.84% 28.99%
LONG-TERM ASSETS
Property, Plant & Equipment $103.1M $102.8M $101.6M
YoY Change -0.17% 4.0% 2.71%
Goodwill $68.46M $68.46M
YoY Change 550.58%
Intangibles $2.858M $4.083M
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.000M $2.981M $2.313M
YoY Change 52.13% 48.68% 13.55%
Total Long-Term Assets $177.4M $178.3M $114.5M
YoY Change 53.25% 60.12% 2.65%
TOTAL ASSETS
Total Short-Term Assets $148.8M $132.9M $168.1M
Total Long-Term Assets $177.4M $178.3M $114.5M
Total Assets $326.2M $311.2M $282.5M
YoY Change 47.33% 47.73% 16.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.953M $15.96M $15.14M
YoY Change -7.56% 45.43% -13.86%
Accrued Expenses $49.50M $44.40M $36.30M
YoY Change 21.92% 28.32% 20.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $62.51M $66.32M $57.33M
YoY Change 21.65% 35.54% -40.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.473M $2.676M $2.880M
YoY Change -23.27% -27.66% -20.24%
Total Long-Term Liabilities $2.473M $2.676M $2.880M
YoY Change -23.27% -27.66% -20.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.51M $66.32M $57.33M
Total Long-Term Liabilities $2.473M $2.676M $2.880M
Total Liabilities $94.98M $99.62M $91.84M
YoY Change 8.83% 10.53% -29.09%
SHAREHOLDERS EQUITY
Retained Earnings $282.4M $264.1M $244.0M
YoY Change 50.8% 52.67% 46.91%
Common Stock $122.4M $121.0M $120.2M
YoY Change 1.63% -0.04% 0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $173.5M $173.5M $173.5M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 10.99M shares 5.494M shares 5.494M shares
Shareholders Equity $231.3M $211.6M $190.7M
YoY Change
Total Liabilities & Shareholders Equity $326.2M $311.2M $282.5M
YoY Change 47.33% 47.73% 16.84%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $18.30M $20.10M $28.78M
YoY Change 44.9% 158.1% 21.32%
Depreciation, Depletion And Amortization $4.800M $4.600M $3.700M
YoY Change 33.33% 31.43% 2.78%
Cash From Operating Activities $9.100M $92.70M $86.50M
YoY Change 435.29% 37.95% -14.27%
INVESTING ACTIVITIES
Capital Expenditures -$3.900M -$4.000M -$2.800M
YoY Change -36.07% 21.21% 0.0%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$71.50M $0.00
YoY Change -100.0%
Cash From Investing Activities -$4.200M -$75.50M -$2.800M
YoY Change -30.0% 2120.59% 7.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 100.0K -200.0K -77.00M
YoY Change 0.0% -99.54% -22.69%
NET CHANGE
Cash From Operating Activities 9.100M 92.70M 86.50M
Cash From Investing Activities -4.200M -75.50M -2.800M
Cash From Financing Activities 100.0K -200.0K -77.00M
Net Change In Cash 5.000M 17.00M 6.700M
YoY Change -219.05% -16.67% -615.38%
FREE CASH FLOW
Cash From Operating Activities $9.100M $92.70M $86.50M
Capital Expenditures -$3.900M -$4.000M -$2.800M
Free Cash Flow $13.00M $96.70M $89.30M
YoY Change 66.67% 37.16% -13.89%

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CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1308000
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
289000
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10995000
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-643000
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28689000
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2317000
CY2015 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
7554000
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-905000
CY2015 us-gaap Interest Expense
InterestExpense
619000
CY2015 us-gaap Interest Paid Net
InterestPaidNet
625000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-23329000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
62634000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-42854000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
48098000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
77406000
CY2015 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
7700000
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
271000
CY2015 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
3000
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
53313000
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
31000
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23333000
CY2015 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
315000
CY2015 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
35000
CY2015 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
225500000
CY2015 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
218500000
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1500000
CY2015 us-gaap Sales Revenue Net
SalesRevenueNet
440804000
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
4861000
CY2015 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
77463000
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
315000
CY2015 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
4861000
CY2015 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
45227000
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31682509 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31350542 shares
CY2015 trex Number Of Customer Accounted For Ten Percent Or More Sales Of Net Sales
NumberOfCustomerAccountedForTenPercentOrMoreSalesOfNetSales
1 Customer
CY2017 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3618000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
31000000
CY2017 dei Amendment Flag
AmendmentFlag
false
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5187000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000
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BusinessAcquisitionsProFormaNetIncomeLoss
96608000
CY2017 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
500000
CY2017 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
3.29
CY2017 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
597288000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
5420000
CY2017 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
321780000
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3000000
CY2017 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
3.27
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Concentrations and Credit Risk</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company&#x2019;s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. The Company from time to time may have bank deposits in excess of insurance limits of the Federal Deposit Insurance Corporation. As of December&#xA0;31, 2017, substantially all deposits are maintained in one financial institution. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk related to its cash and cash equivalents.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company routinely assesses the financial strength of its customers and believes that its trade receivables credit risk exposure is limited. Trade receivables are carried at the original invoice amount less an estimate made for payment discounts and doubtful accounts. A valuation allowance is provided for known and anticipated credit losses and disputed amounts, as determined by management in the course of regularly evaluating individual customer receivables. This evaluation takes into consideration a customer&#x2019;s financial condition and credit history, as well as current economic conditions. There was no material valuation allowance recorded as of December&#xA0;31, 2017 and 2016.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In the years ended December&#xA0;31, 2017, 2016 and 2015, sales to certain customers accounted for 10% or more of the Company&#x2019;s total net sales. For the year ended December&#xA0;31, 2017, two customers of the Company represented approximately 41% of the Company&#x2019;s net sales. For the year ended December&#xA0;31, 2016, two customers of the Company represented approximately 39% of the Company&#x2019;s net sales. For the year ended December&#xA0;31, 2015, one customer of the Company represented approximately 27% of the Company&#x2019;s net sales. At December&#xA0;31, 2017, three customers represented 29%, 14%, and 11%, respectively, of the Company&#x2019;s accounts receivable balance.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Approximately 33%, 33%, and 35% of the Company&#x2019;s materials purchases for the years ended December&#xA0;31, 2017, 2016 and 2015, respectively, were purchased from its four largest suppliers.</p> </div>
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11850000
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
95128000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
41177000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
46597000
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06 pure
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1177000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
194000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-983000
CY2017 us-gaap Depreciation
Depreciation
14700000
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16860000
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1.00 pure
CY2017 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017 dei Document Type
DocumentType
10-K
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.22
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-12-31
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.24
CY2017 dei Entity Registrant Name
EntityRegistrantName
TREX CO INC
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0001069878
CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2017 us-gaap Gross Profit
GrossProfit
243373000
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1738000
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
57938000
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
141919000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
44802000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
49671000
CY2017 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
-1454000
CY2017 us-gaap Income Tax Reconciliation Deductions Qualified Production Activities
IncomeTaxReconciliationDeductionsQualifiedProductionActivities
4376000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
5110000
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
534000
CY2017 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
1795000
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
576000
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IncomeTaxReconciliationOtherAdjustments
-2202000
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
10486000
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3635000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46791000
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IncreaseDecreaseInAccountsPayable
-4804000
CY2017 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2488000
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2194000
CY2017 us-gaap Interest Expense
InterestExpense
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CY2017 us-gaap Interest Paid Net
InterestPaidNet
418000
CY2017 us-gaap Nature Of Operations
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<div> <table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr style="page-break-inside:avoid"> <td width="4%" valign="top" align="left"><b>1.</b></td> <td align="left" valign="top"><b>BUSINESS AND ORGANIZATION</b></td> </tr> </table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Trex Company, Inc. (together with its subsidiaries, the Company), a Delaware corporation, was incorporated on September&#xA0;4, 1998. The Company&#x2019;s principal business based on net sales is the manufacture and distribution of wood/plastic composite products, as well as related accessories, primarily for residential and commercial decking and railing applications. A majority of its products are manufactured in a proprietary process that combines reclaimed wood fibers and scrap polyethylene. On July&#xA0;31, 2017, through its newly-formed, wholly-owned subsidiary, Trex Commercial Products, Inc., the Company acquired certain assets and assumed certain liabilities of Staging Concepts Acquisition, LLC (SC Company) and thus expanded its markets to include the design, engineering and marketing of modular and architectural railing systems and solutions for the commercial and multifamily markets, and a provider of staging, acoustical and seating systems for commercial markets, including sports stadiums and performing arts venues. Additional information on the acquisition of SC&#xA0;Company is presented in Note 3. The principal executive offices are located at 160 Exeter Drive, Winchester, Virginia 22603, and the telephone number at that address is (540)&#xA0;542-6300. Subsequent to the acquisition, the Company operates in two reportable segments, Trex Residential Products and Trex Commercial Products.</p> </div>
CY2017 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-86789000
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
101865000
CY2017 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-3226000
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OperatingIncomeLoss
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CY2017 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
9100000
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406000
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3617000
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15040000
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391000
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
55000
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ProceedsFromLinesOfCredit
201000000
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RepaymentsOfLinesOfCredit
201000000
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ResearchAndDevelopmentExpense
3800000
CY2017 us-gaap Sales Revenue Net
SalesRevenueNet
565153000
CY2017 dei Trading Symbol
TradingSymbol
TREX
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29575460 shares
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2017 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
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CY2017 us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.</p> </div>
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2017 trex Valuation Allowance For Credit Losses And Disputed Amounts
ValuationAllowanceForCreditLossesAndDisputedAmounts
0
CY2017 trex Stock Issued Shares Employee Stock Purchase Plan
StockIssuedSharesEmployeeStockPurchasePlan
429073 shares
CY2017 trex Number Of Customer Accounted For Ten Percent Or More Account Receivable
NumberOfCustomerAccountedForTenPercentOrMoreAccountReceivable
3 Customer
CY2017 trex Number Of Financial Institution With Deposit
NumberOfFinancialInstitutionWithDeposit
1 Institution
CY2017 trex Unrecognized Tax Benefits Number Of Tax Matters Identified
UnrecognizedTaxBenefitsNumberOfTaxMattersIdentified
0 Tax_Positions
CY2017 trex Number Of Customer Accounted For Ten Percent Or More Sales Of Net Sales
NumberOfCustomerAccountedForTenPercentOrMoreSalesOfNetSales
2 Customer
CY2017 trex Number Of Largest Raw Material Suppliers
NumberOfLargestRawMaterialSuppliers
4 Supplier
CY2017 trex Maturity Period Of Cash Equivalent
MaturityPeriodOfCashEquivalent
P3M
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AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1933000
CY2017 trex Number Of Sales Retailers
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2 Retailer
CY2017 trex Effective Income Tax Rate Reconciliation Blended Federal And State Income Tax Rate
EffectiveIncomeTaxRateReconciliationBlendedFederalAndStateIncomeTaxRate
0.380 pure
CY2017 trex Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
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BusinessAcquisitionProFormaEarningsPerShareBasic
2.33
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BusinessAcquisitionsProFormaRevenue
534618000
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BusinessAcquisitionProFormaEarningsPerShareDiluted
2.31
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CashAndCashEquivalentsPeriodIncreaseDecrease
12669000
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67847000
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CurrentFederalTaxExpenseBenefit
26752000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
29550000
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2798000
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292521000
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2500000
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DeferredFederalIncomeTaxExpenseBenefit
5217000
CY2016 us-gaap Deferred Income Tax Expense Benefit
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5433000
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216000
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14498000
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185000
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0
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28626000
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2740000
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3747000
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488000
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1110000
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396000
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653000
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5442000
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34983000
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9403000
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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4256000
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InterestExpense
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852000
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CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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85293000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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67847000
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9900000
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284000
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485000
CY2016 us-gaap Payments For Repurchase Of Common Stock
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55216000
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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14551000
CY2016 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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279000
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4349000
CY2016 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
242700000
CY2016 us-gaap Repayments Of Lines Of Credit
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249700000
CY2016 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3700000
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
479616000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
4788000
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
83140000
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
280000
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
4789000
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
53285000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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29612669 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
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29394559 shares
CY2016 trex Valuation Allowance For Credit Losses And Disputed Amounts
ValuationAllowanceForCreditLossesAndDisputedAmounts
0
CY2016 trex Number Of Customer Accounted For Ten Percent Or More Sales Of Net Sales
NumberOfCustomerAccountedForTenPercentOrMoreSalesOfNetSales
2 Customer
CY2017Q1 us-gaap Earnings Per Share Diluted
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0.95
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0.95
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65169000
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27949000
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144806000
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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29561406 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29363210 shares
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
CY2016Q1 us-gaap Gross Profit
GrossProfit
57627000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
23706000
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
131676000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29910292 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29697722 shares
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
CY2016Q2 us-gaap Gross Profit
GrossProfit
61410000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
23725000
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
146450000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29477870 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29264362 shares
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2017Q2 us-gaap Gross Profit
GrossProfit
72014000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
28782000
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
157941000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29550418 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29389458 shares
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2016Q3 us-gaap Gross Profit
GrossProfit
29945000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
7787000
CY2016Q3 us-gaap Sales Revenue Net
SalesRevenueNet
106168000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29516718 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29295284 shares
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2017Q3 us-gaap Gross Profit
GrossProfit
55284000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
20098000
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
140194000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29578216 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29404049 shares
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2016Q4 us-gaap Gross Profit
GrossProfit
38113000
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
12629000
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
95322000
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29543842 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29318915 shares
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2017Q4 us-gaap Gross Profit
GrossProfit
50906000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
18299000
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
122212000
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29611129 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29412848 shares

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