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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 20, 2020
Cover [Abstract]
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001069878
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	TREX CO INC
Document Period End Date	Jun. 30, 2020
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Trading Symbol	TREX
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		57,878,154
Entity File Number	001-14649
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1910453
Entity Address, Address Line One	160 Exeter Drive
Entity Address, City or Town	Winchester
Entity Address, Postal Zip Code	22603-8605
Entity Address, State or Province	VA
City Area Code	540
Local Phone Number	542-6300
Title of 12(b) Security	Common stock
Security Exchange Name	NYSE
Document Quarterly Report	true

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 220,648	$ 206,453	$ 421,043	$ 386,024
Cost of sales	128,243	123,009	238,941	233,214
Gross profit	92,405	83,444	182,102	152,810
Selling, general and administrative expenses	29,009	35,705	63,571	65,872
Income from operations	63,396	47,739	118,531	86,938
Interest income, net	(71)	(1)	(593)	(57)
Income before income taxes	63,467	47,740	119,124	86,995
Provision for income taxes	16,249	12,030	29,504	19,730
Net income	$ 47,218	$ 35,710	$ 89,620	$ 67,265
Basic earnings per common share	$ 0.82	$ 0.61	$ 1.55	$ 1.15
Basic weighted average common shares outstanding	57,866,967	58,486,192	57,998,247	58,514,676
Diluted earnings per common share	$ 0.81	$ 0.61	$ 1.54	$ 1.14
Diluted weighted average common shares outstanding	58,030,994	58,687,540	58,177,357	58,758,201
Comprehensive income	$ 47,218	$ 35,710	$ 89,620	$ 67,265

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 12,237	$ 148,833
Accounts receivable, net	249,682	78,462
Inventories	49,649	56,106
Prepaid expenses and other assets	19,516	19,803
Total current assets	331,084	303,204
Property, plant and equipment, net	224,909	171,300
Goodwill and other intangible assets, net	73,875	74,084
Operating lease assets	36,926	40,049
Other assets	4,196	3,602
Total assets	670,990	592,239
Current liabilities:
Accounts payable	28,135	15,227
Accrued expenses and other liabilities	78,456	58,265
Accrued warranty	5,178	5,178
Total current liabilities	111,769	78,670
Operating lease liabilities	30,776	34,242
Deferred income taxes	9,831	9,831
Non-current accrued warranty	18,951	20,317
Other long-term liabilities	2	4
Total liabilities	171,329	143,064
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 3,000,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value, 180,000,000 shares authorized; 70,266,754 and 70,187,463 shares issued and 57,878,003 and 58,240,721 shares outstanding at June 30, 2020 and December 31, 2019, respectively	703	702
Additional paid-in capital	123,933	123,996
Retained earnings	651,300	561,680
Treasury stock, at cost, 12,388,751 and 11,946,742 shares at June 30, 2020 and December 31, 2019, respectively	(276,275)	(237,203)
Total stockholders' equity	499,661	449,175
Total liabilities and stockholders' equity	$ 670,990	$ 592,239

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares issued	70,266,754	70,187,463
Common stock, shares outstanding	57,878,003	58,240,721
Treasury stock, shares	12,388,751	11,946,742

Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]
Beginning Balance at Dec. 31, 2018	$ 342,963	$ 700	$ 124,224	$ 416,942	$ (198,903)
Beginning Balance, Shares at Dec. 31, 2018		58,551,653			11,446,683
Net income	31,555			31,555
Employee stock plans	302		302
Employee stock plans, Shares		24,472
Shares withheld for taxes on awards	(5,727)		(5,727)
Shares withheld for taxes on awards, Shares		(74,010)
Stock-based compensation	2,794	$ 1	2,793
Stock-based compensation, Shares		160,359
Repurchases of common stock	(8,730)				$ (8,730)
Repurchases of common stock, Shares		(124,989)			124,989
Ending Balance at Mar. 31, 2019	363,157	$ 701	121,592	448,497	$ (207,633)
Ending Balance, Shares at Mar. 31, 2019		58,537,485			11,571,672
Beginning Balance at Dec. 31, 2018	342,963	$ 700	124,224	416,942	$ (198,903)
Beginning Balance, Shares at Dec. 31, 2018		58,551,653			11,446,683
Net income	67,265
Ending Balance at Jun. 30, 2019	391,533	$ 701	122,720	484,207	$ (216,095)
Ending Balance, Shares at Jun. 30, 2019		58,440,204			11,696,823
Beginning Balance at Mar. 31, 2019	363,157	$ 701	121,592	448,497	$ (207,633)
Beginning Balance, Shares at Mar. 31, 2019		58,537,485			11,571,672
Net income	35,710			35,710
Employee stock plans	257		257
Employee stock plans, Shares		14,905
Shares withheld for taxes on awards	(1,254)		(1,254)
Shares withheld for taxes on awards, Shares		(19,174)
Stock-based compensation	2,125		2,125
Stock-based compensation, Shares		32,139
Repurchases of common stock	(8,462)				$ (8,462)
Repurchases of common stock, Shares		(125,151)			125,151
Ending Balance at Jun. 30, 2019	391,533	$ 701	122,720	484,207	$ (216,095)
Ending Balance, Shares at Jun. 30, 2019		58,440,204			11,696,823
Beginning Balance at Dec. 31, 2019	449,175	$ 702	123,996	561,680	$ (237,203)
Beginning Balance, Shares at Dec. 31, 2019		58,240,721			11,946,742
Net income	42,402			42,402
Employee stock plans	299		299
Employee stock plans, Shares		16,386
Shares withheld for taxes on awards	(3,856)		(3,856)
Shares withheld for taxes on awards, Shares		(38,142)
Stock-based compensation	2,775		2,775
Stock-based compensation, Shares		76,204
Repurchases of common stock	(39,072)				$ (39,072)
Repurchases of common stock, Shares		(442,009)			442,009
Ending Balance at Mar. 31, 2020	451,723	$ 702	123,214	604,082	$ (276,275)
Ending Balance, Shares at Mar. 31, 2020		57,853,160			12,388,751
Beginning Balance at Dec. 31, 2019	449,175	$ 702	123,996	561,680	$ (237,203)
Beginning Balance, Shares at Dec. 31, 2019		58,240,721			11,946,742
Net income	89,620
Ending Balance at Jun. 30, 2020	499,661	$ 703	123,933	651,300	$ (276,275)
Ending Balance, Shares at Jun. 30, 2020		57,878,003			12,388,751
Beginning Balance at Mar. 31, 2020	451,723	$ 702	123,214	604,082	$ (276,275)
Beginning Balance, Shares at Mar. 31, 2020		57,853,160			12,388,751
Net income	47,218			47,218
Employee stock plans	391		391
Employee stock plans, Shares		8,206
Shares withheld for taxes on awards	(1,199)		(1,199)
Shares withheld for taxes on awards, Shares		(12,393)
Stock-based compensation	1,528	$ 1	1,527
Stock-based compensation, Shares		29,030
Ending Balance at Jun. 30, 2020	$ 499,661	$ 703	$ 123,933	$ 651,300	$ (276,275)
Ending Balance, Shares at Jun. 30, 2020		57,878,003			12,388,751

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating Activities
Net income	$ 89,620	$ 67,265
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	7,915	6,792
Stock-based compensation	4,303	4,918
(Gain) loss on disposal of property, plant and equipment	(134)	10
Other non-cash adjustments	(233)	(308)
Changes in operating assets and liabilities:
Accounts receivable	(171,220)	(26,746)
Inventories	6,457	14,882
Prepaid expenses and other assets	(2,335)	210
Accounts payable	12,195	(3,777)
Accrued expenses and other liabilities	(591)	(16,548)
Income taxes receivable/payable	21,691	(3,640)
Net cash (used in) provided by operating activities	(32,332)	43,058
Investing Activities
Expenditures for property, plant and equipment	(62,613)	(19,061)
Proceeds from sales of property, plant and equipment	2,146
Net cash used in investing activities	(60,467)	(19,061)
Financing Activities
Borrowings under line of credit	173,000	89,500
Principal payments under line of credit	(173,000)	(89,500)
Repurchases of common stock	(44,124)	(24,172)
Proceeds from employee stock purchase and option plans	688	560
Financing costs	(361)
Net cash used in financing activities	(43,797)	(23,612)
Net (decrease) increase in cash and cash equivalents	(136,596)	385
Cash and cash equivalents, beginning of period	148,833	105,699
Cash and cash equivalents, end of period	12,237	106,084
Supplemental Disclosure:
Cash paid for interest	143	321
Cash paid for income taxes, net	$ 7,813	$ 23,371

Business and Organization

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Organization

1.	BUSINESS AND ORGANIZATION

Trex Company, Inc. (Company) is the world’s largest manufacturer of high-performance,

low-maintenance

wood-alternative decking and residential railing and outdoor living products and accessories, marketed under the brand name Trex

, with more than 25 years of product experience. A majority of its products are manufactured in a proprietary process that combines reclaimed wood fibers and scrap polyethylene. Also, the Company is a leading national provider of custom-engineered railing and staging systems for the commercial and multi-family market, including sports stadiums and performing arts venues. The Company operates in two reportable segments, Trex Residential Products (Trex Residential) and Trex Commercial Products (Trex Commercial). The Company is incorporated in Delaware. The principal executive offices are located at 160 Exeter Drive, Winchester, Virginia 22603, and the telephone number at that address is (540)

542-6300.

Basis of Presentation

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

2.	BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the instructions to Form

10-Q

and Article 10 of Regulation

S-X

and, accordingly, the accompanying unaudited condensed consolidated financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring adjustments except as otherwise described herein) considered necessary for a fair presentation have been included in the accompanying unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Trex Commercial Products, Inc., for all periods presented.

The unaudited consolidated results of operations for the three and six

months

ended June 30, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2020. The Company’s results of operations are affected by economic conditions, including macroeconomic conditions and levels of business confidence. As of the date of this report, the Company has not experienced any material disruptions to its operations due to the

COVID-19

pandemic. However, the pandemic remains an evolving situation due to the continuation of the outbreak and any future measures that may be taken to contain the spread of the virus. In addition, the extent and duration of the economic fallout from

COVID-19

remains unclear. The Company is actively managing its business to respond to the impact and will continue to evaluate the nature and extent of the impact to its business and consolidated results of operations and financial condition.

These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of December 31, 2019 and 2018 and for each of the three years in the period ended December 31, 2019 included in the Annual Report of Trex Company, Inc. on Form

10-K,

as filed with the U.S. Securities and Exchange Commission.

Recently Adopted Accounting Standards

6 Months Ended

Jun. 30, 2020

Accounting Changes and Error Corrections [Abstract]

Recently Adopted Accounting Standards

3.	RECENTLY ADOPTED ACCOUNTING STANDARDS

In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)

No. 2018-15,

“

Intangibles – Goodwill and Other –

Internal-Use

Software (Subtopic

350-40):

Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of FASB Emerging Issues Task Force)

”. The new guidance aligns the requirements for capitalizing implementation costs in a cloud computing arrangement service contract with the requirements for capitalizing implementation costs incurred for an

internal-use

software license. Under that model, implementation costs are capitalized or expensed depending on the nature of the costs and the project stage during which they are incurred. Capitalized implementation costs are amortized over the term of the associated hosted cloud computing arrangement service contract on a straight-line basis, unless another systematic and rational basis is more representative of the pattern in which the entity expects to benefit from its right to access the hosted software. Capitalized implementation costs would then be assessed for impairment in a manner similar to long-lived assets. The new guidance was effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Entities can adopt the new guidance either prospectively to eligible costs incurred on or after the date the guidance is first applied or retrospectively. The Company adopted the guidance prospectively on January 1, 2020. Adoption did not have a material impact on its consolidated financial condition or results of operations.

In January 2017, the FASB issued ASU No.

2017-04,

“

Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment

”. The guidance removes Step 2 of the goodwill impairment test and eliminates the need to determine the fair value of individual assets and liabilities to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The guidance was applied prospectively, and was effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The Company adopted the guidance on January 1, 2020. Adoption did not have a material impact on its consolidated financial condition or results of operations.

In June 2016, the FASB issued ASU

2016-13,

“

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses in Financial Instruments

,” as amended. The ASU amends the guidance on the impairment of financial instruments and adds an impairment model, known as the current expected credit loss (CECL) model. The CECL model requires an entity to recognize its current estimate of all expected credit losses, rather than incurred losses, and applies to trade receivables and other receivables. The CECL model is designed to capture expected credit losses through the establishment of an allowance account, which will be presented as an offset to the amortized cost basis of the related financial asset. The new guidance was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, and is applied using the modified-retrospective approach. The Company adopted the guidance on January 1, 2020. Adoption did not have a material impact on its consolidated financial condition or results of operations.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

New Accounting Standards Not Yet Adopted

6 Months Ended

Jun. 30, 2020

Accounting Changes and Error Corrections [Abstract]

New Accounting Standards Not Yet Adopted

4.	NEW ACCOUNTING STANDARDS NOT YET ADOPTED

In March 2020, the FASB issued ASU No.

2020-04,

“

Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting

”. The guidance provides temporary optional expedients and exceptions related to contract modifications and hedge accounting to ease entities’ financial reporting burdens as the market transitions from the London Interbank Offered Rate and other interbank offered rates to alternative reference rates. The new guidance allows entities to elect not to apply certain modification accounting requirements, if certain criteria are met, to contracts affected by what the guidance calls reference rate reform. An entity that makes this election would consider changes in reference rates and other contract modifications related to reference rate reform to be events that do not require contract remeasurement at the modification date or reassessment of a previous accounting determination. The ASU notes that changes in contract terms that are made to effect the reference rate reform transition are considered related to the replacement of a reference rate if they are not the result of a business decision that is separate from or in addition to changes to the terms of a contract to effect that transition. The guidance is effective upon issuance and generally can be applied as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of the standard on its contract accounted for under Codification topic ASC 470, “

Debt

” but does not expect adoption of the guidance to have a material effect on its consolidated financial statements.

In December 2019, the FASB issued ASU No.

2019-12,

“

Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

”. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences related to changes in ownership of equity method investments and foreign subsidiaries. The guidance also simplifies aspects of accounting for franchise taxes and enacted changes in tax laws or rates, and clarifies the accounting for transactions that result in a

step-up

in the tax basis of goodwill. The standard will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company does not intend to early adopt the standard and is currently evaluating the impact of the standard on its consolidated financial condition and results of operations. It does not expect the standard to have a material effect on its consolidated financial statements.

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

5.	INVENTORIES

Inventories valued at LIFO

(last-in,

first-out),

consist of the following (in thousands):


	June 30, 2020			December 31, 2019
Finished goods	$	31,764		$	42,281
Raw materials		35,584			31,686

Total FIFO (first-in, first-out) inventories		67,348			73,967
Reserve to adjust inventories to LIFO value		(19,062	)		(19,062	)

Total LIFO inventories	$	48,286		$	54,905

The Company utilizes the LIFO method of accounting to its Trex Residential wood-alternative decking and residential railing products, which generally provides for the matching of current costs with current revenues. However, under the LIFO method, reductions in annual inventory balances cause a portion of the Company’s cost of sales to be based on historical costs rather than current year costs (LIFO liquidation). Reductions in interim inventory balances expected to be replenished by

year-end

do not result in a LIFO liquidation. Accordingly, interim LIFO calculations are based, in part, on management’s estimates of expected

year-end

inventory levels and costs, which may differ from actual results. Since inventory levels and costs are subject to factors beyond management’s control, interim results are subject to the final

year-end

LIFO inventory valuation. As of June 30, 2020, management estimates that interim inventory balances will be replenished by

year-end

and there were no LIFO inventory liquidations or related impact on cost of sales in the six months ended June 30, 2020.

Inventories valued at lower of cost (FIFO method) and net realizable value were $1.4 million at June 30, 2020 and $1.2 million at December 31, 2019, consisting primarily of raw materials. The Company utilizes the FIFO method of accounting to its Trex Commercial architectural railing and staging system products.

Prepaid Expenses and Other Assets

6 Months Ended

Jun. 30, 2020

Text Block [Abstract]

Prepaid Expenses and Other Assets

6.	PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets consist of the following (in thousands):


	June 30, 2020		December 31, 2019
Revenues in excess of billings	$	7,999	$	8,282
Prepaid expenses		8,762		6,664
Contract retainage		2,097		1,832
Income tax receivable		53		2,675
Other		605		350

Total prepaid expenses and other assets	$	19,516	$	19,803

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

7.	GOODWILL AND OTHER INTANGIBLE ASSETS

The carrying amount of goodwill by reportable segment at June 30, 2020 and December 31, 2019 was $14.2 million for Trex Residential and $54.3 million for Trex Commercial.

The Company’s intangible assets consist of domain names. At June 30, 2020 and December 31, 2019, intangible assets were $6.3 million and accumulated amortization was $0.9 million and $0.7 million, respectively. Intangible asset amounts were determined based on the estimated economics of the asset and are amortized over the estimated useful lives on a straight-line basis over 15 years, which approximates the pattern in which the economic benefits are expected to be received. The Company evaluates the recoverability of intangible assets periodically and considers events or circumstances that may warrant revised estimates of useful lives or that may indicate an impairment. Intangible asset amortization expense for the six months ended June 30, 2020 and June 30, 2019, was $0.2 million and $0.2 million, respectively.

Accrued Expenses and Other Liabilities

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

8.	ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consist of the following (in thousands):


	June 30, 2020		December 31, 2019
Sales and marketing	$	26,319	$	28,402
Income taxes		19,069		—
Compensation and benefits		13,082		13,475
Operating lease liabilities		7,306		7,079
Manufacturing costs		2,677		2,564
Customer deposits		4,097		2,905
Billings in excess of revenues		1,423		816
Other		4,483		3,024

Total accrued expenses and other liabilities	$	78,456	$	58,265

Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

9. DEBT

The Company’s outstanding debt consists of a revolving credit facility. The Company had no outstanding borrowings under its revolving credit facility and remaining available borrowing capacity of $350 million at June 30, 2020

, and $300 million from July 1, 2020 through December 31, 2020.

Revolving Credit Facility

On November 5, 2019, the Company entered into a Fourth Amended and Restated Credit Agreement (Fourth Amended Credit Agreement) as borrower, Trex Commercial Products, Inc., as guarantor; Bank of America, N.A. as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer; and certain other lenders including Wells Fargo Bank, N.A., who is also Syndication Agent, and Truist Bank, arranged by BOA Securities, Inc., as Sole Lead Arranger and Sole Bookrunner, to amend and restate the Third Amended and Restated Credit Agreement (Third Amended Credit Agreement), dated as of January 12, 2016, as amended. The Fourth Amended Credit Agreement provides the Company with one or more Revolving Loans in a collective maximum principal amount of $250 million from January 1 through June 30 of each year and a maximum principal amount of $200 million from July 1 through December 31 of each year throughout the term, which ends November 5, 2024.

On May 26, 2020, the Company entered into a First Amendment to the Original Credit Agreement (the First Amendment) to provide for an additional $100 million line of credit

through May 26, 2022.

The purpose of the additional $100 million line of credit is primarily to reduce risk associated with the

COVID-19

pandemic should the Company need to secure additional capital to continue its strategy of accelerating the conversion of wood decking to Trex composite decking and expanding its addressable market. As a matter of convenience, the parties incorporated the amendments to the Original Credit Agreement made by the First Amendment into a new Fourth Amended and Restated Credit Agreement (New Credit Agreement). In the New Credit Agreement, the revolving commitments under the Original Credit Agreement are referred to as Revolving A Commitments and the new $100 million line of credit is referred to as Revolving B Commitments. In the New Credit Agreement, all of the material terms and conditions related to the original line of credit (Revolving A Commitments) remain unchanged from the Original Credit Agreement.

The Company entered into the First Amendment, as borrower; Trex Commercial Products, Inc. (TCP), as guarantor; Bank of America, N.A. (BOA), as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer; and certain other lenders including Wells Fargo Bank, N.A. (Wells Fargo), who is also Syndication Agent; Truist Bank (Truist); and Regions Bank (Regions) (each, a Lender and collectively, the Lenders), arranged by BofA Securities, Inc. as Sole Lead Arranger and Sole Bookrunner. The First Amendment further provides that the New Credit Agreement is amended and restated by changing Schedule 2.01 to add applicable Lender percentages related to the Revolving B Commitment for BOA of 47.5%, Well Fargo of 28.0% and Regions of 24.5%.

The Notes and interest rates for the Revolving A Commitments remained unchanged and are the same as previously disclosed. The Notes for Revolving A Commitments and Revolving B Commitments provide the Company, in the aggregate, the ability to borrow an amount up to the respective Revolving A Loan Limit and Revolving B Loan Limit during the respective Revolving A Term and Revolving B Term. The Company is not obligated to borrow any amount under either the Revolving A Loan or the Revolving B Loan. Within either the Revolving A Loan or the Revolving B Loan, the Company may borrow, repay and reborrow at any time or from time to time while the respective Revolving A Loan or Revolving B Loan remains in effect.

Base Rate Loans (as defined in the Fourth Amended Credit Agreement) under the Revolving Loans and the Swing Line Loans accrue interest at the Base Rate plus the Applicable Rate (as defined in the Fourth Amended Credit Agreement) and Eurodollar Rate Loans for the Revolving Loans and Swing Line Loans accrue interest at the Adjusted London InterBank Offered Rate plus the Applicable Rate (as defined in the Fourth Amended Credit Agreement).

The Base Rate for any day is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by BOA as its prime rate, and (c) the Eurodollar Rate plus 1.0%.

The Applicable Rate for Revolving B Commitments means the following percentages per annum, based upon the Consolidated Debt to Consolidated EBITDA Ratio as set forth in the most recent Compliance Certificate received by BOA as the Administrative Agent and as set forth in the New Credit Agreement:


Pricing Tier	Consolidated Debt to Consolidated EBITDA Ratio		Eurodollar Rate Loans / LIBOR Index Rate			Base Rate Loans			Revolving B Commitment Fee
1		> 2.50:1.00		2.75	%		1.75	%		0.60	%
2		< 2.50:1.00 but > 2.00:1.00		2.50	%		1.50	%		0.55	%
3		< 2.00:1.00 but > 1.50:1.00		2.25	%		1.25	%		0.50	%
4		< 1.50:1.00		1.80	%		0.80	%		0.45	%

Compliance with Debt Covenants and Restrictions

Pursuant to the terms of the Fourth Amended Credit Agreement, the Company is subject to certain loan compliance covenants. The Company was in compliance with all covenants as of June 30, 2020. Failure to comply with the financial covenants could be considered a default of repayment obligations and, among other remedies, could accelerate payment of any amounts outstanding.

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

10.

LEASES

The Company leases office space, storage warehouses and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of 1 year to 8 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

For the six months ended June 30, 2020 and June 30, 2019, total operating lease

expense

was $4.3 million and $4.2 million, respectively. The weighted average remaining lease term at June 30, 2020 and December 31, 2019 was 6 years and 6.5 years, respectively. The weighted average discount rate at June 30, 2020 and December 31, 2019 was 3.64% and 3.66%, respectively.

The following table includes supplemental cash flow information for the six months ended June 30, 2020 and June 30, 2019 and supplemental balance sheet information at June 30, 2020 and December 31, 2019 related to operating leases (in thousands):

	Six Months Ended
Supplemental cash flow information	June 30, 2020		June 30, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	4,258	$	4,242
Operating ROU assets obtained in exchange for lease liabilities	$	290	$	388

Supplemental balance sheet information	June 30, 2020		December 31, 2019
Operating lease ROU assets	$	36,926	$	40,049

Operating lease liabilities:
Accrued expenses and other current liabilities	$	7,306	$	7,079
Operating lease liabilities		30,776		34,242
Total operating lease liabilities	$	38,082	$	41,321

The following table summarizes maturities of operating lease liabilities at June 30, 2020 (in thousands):


Maturities of operating lease liabilities
2020	$	4,284
2021		8,398
2022		6,530
2023		6,138


2024		6,158
Thereafter		11,079

Total lease payments		42,587
Less imputed interest		(4,505	)

Total operating liabilities	$	38,082

Financial Instruments

6 Months Ended

Jun. 30, 2020

Investments, All Other Investments [Abstract]

Financial Instruments

11.	FINANCIAL INSTRUMENTS

The Company considers the recorded value of its financial assets and liabilities, consisting primarily of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, other current liabilities, and debt to approximate the fair value of the respective assets and liabilities on the Condensed Consolidated Balance Sheets at June 30, 2020 and December 31, 2019.

Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

12.	STOCKHOLDERS’ EQUITY

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income available to common shareholders	$	47,218	$	35,710	$	89,620	$	67,265

Denominator:
Basic weighted average shares outstanding		57,866,967		58,486,192		57,998,247		58,514,676
Effect of dilutive securities:
Stock appreciation rights and options		89,871		129,839		90,297		141,958
Restricted stock		74,156		71,509		88,813		101,567

Diluted weighted average shares outstanding		58,030,994		58,687,540		58,177,357		58,758,201

Basic earnings per share	$	0.82	$	0.61	$	1.55	$	1.15

Diluted earnings per share	$	0.81	$	0.61	$	1.54	$	1.14

Diluted earnings per share is computed using the weighted average number of shares determined for the basic earnings per share computation plus the dilutive effect of common stock equivalents using the treasury stock method. The computation of diluted earnings per share excludes the following potentially dilutive securities because the effect would be anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Stock appreciation rights		19,792		24,536		14,464		18,675

Stock Repurchase Programs

On February 16, 2018, the Board of Directors adopted a stock repurchase program of up to 5.8 million shares of the Company’s outstanding common stock (Stock Repurchase Program). As of June 30, 2020, the Company ha

repurchased 1.4

million

shares of the Company’s outstanding common stock under the Stock Repurchase Program.

Due to the volatility and uncertainty in the stock market associated with the

COVID-19

pandemic, the Company suspended repurchases of its common stock under the Stock Repurchase Program on March 12, 2020. As of the date of this report, the Stock Repurchase Program remains in effect with repurchases suspended. However, the Company may determine to resume repurchases at any time.

Amendment of Restated Certificate of Incorporation

At the annual meeting of stockholders of the Company held on April 29, 2020, the Company’s stockholders approved an amendment of the Company’s Restated Certificate of Incorporation (Amendment), effective as of April 29, 2020. The Company’s Board of Directors unanimously approved the Amendment on February 19, 2020, subject to stockholder approval. The Amendment increases the number of shares of common stock, par value $0.01 per share, that the Company is authorized to issue from 120 million shares to 180 million shares.

Stock Split

On July 29, 2020, the Company’s Board of Directors approved a

two-for-one stock split of the Company’s common stock, par value, $

0.01. The stock split will be in the form of a stock dividend to be distributed on September 14, 2020, to stockholders of record at the close of business on August 19, 2020. The condensed consolidated financial statements presented in this Form

10-Q

appropriately do not reflect the effects of the stock split.

Revenue From Contracts With Customers

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

13.	REVENUE FROM CONTRACTS WITH CUSTOMERS

Trex Residential Products

Trex Residential principally generates revenue from the manufacture and sale of its high-performance,

low-maintenance,

eco-friendly

wood-alternative composite decking and residential railing products and accessories. Substantially all of its revenues are from contracts with customers, which are purchase orders of short-term duration of less than one year. Its customers, in turn, sell primarily to the residential market, which includes replacement, remodeling and new construction related to outdoor living products. Trex Residential satisfies its performance obligations at a point in time. The shipment of each product is a separate performance obligation as the customer is able to derive benefit from each product shipped and no performance obligation remains after shipment. Upon shipment of the product, the customer obtains control over the distinct product and Trex Residential satisfies its performance obligation. Any performance obligation that remains unsatisfied at the end of a reporting period is part of a contract that has an original expected duration of one year or less. Any variable consideration related to the unsatisfied performance obligation is allocated wholly to the unsatisfied performance obligation, is recognized when the product ships and the performance obligation is satisfied and is included in “Accrued expenses and other liabilities, Sales and marketing” in Note 8 to the Condensed Consolidated Financial Statements.

Trex Commercial Products

Trex Commercial generates revenue from the manufacture and sale of its modular and architectural railing and staging systems. All of its revenues are from fixed-price contracts with customers. Trex Commercial contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contract and is, therefore, not distinct. The transaction price allocated to remaining performance obligations on contracts with an original duration greater than one year was $63.7 million as of June 30, 2020. The Company will recognize this revenue as contracts are completed, which is expected to occur within the next 24 months.

For the three months and six months ended June 30, 2020 and 2019, net sales were disaggregated in the following tables by (1) market, (2) timing of revenue recognition, and (3) type of contract. The tables also include a reconciliation of the respective disaggregated net sales with the Company’s reportable segments (in thousands).


Three Months Ended June 30, 2020	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	208,877	$	—	$	208,877
Products transferred over time and fixed price contracts		—		11,771		11,771

	$	208,777	$	11,771	$	220,648


Six Months Ended June 30, 2020	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	395,751	$	—	$	395,751
Products transferred over time and fixed price contracts		—		25,292		25,292
	$	395,751	$	25,292	$	421,043


Three Months Ended June 30, 2019	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	193,468	$	—	$	193,468
Products transferred over time and fixed price contracts		—		12,985		12,985

	$	193,468	$	12,985	$	206,453


Six Months Ended June 30, 2019	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	358,947	$	—	$	358,947
Products transferred over time and fixed price contracts		—		27,077		27,077

	$	358,947	$	27,077	$	386,024

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

14.	STOCK-BASED COMPENSATION

The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by the Company’s stockholders in April 2014. The Plan amended and restated in its entirety the Trex Company, Inc. 2005 Stock Incentive Plan. The Plan was subsequently amended and restated by the Company’s Board of Directors in May 2014 and May 2018. The Plan is administered by the Compensation Committee of the Company’s Board of Directors. Stock-based compensation is granted to officers, directors and certain key employees in accordance with the provisions of the Plan. The Plan provides for grants of stock options, restricted stock, restricted stock units, stock appreciation rights (SARs), and unrestricted stock. The total aggregate number of shares of the Company’s common stock that may be issued under the Plan is 12,840,000 and as of June 30, 2020, the total number of shares available for future issuance is 5,642,795.

The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2020:


	Stock Awards Granted		Weighted-Average Grant Price Per Share
Time-based restricted stock units		21,689	$	99.95
Performance-based restricted stock units (a)		38,842	$	78.64
Stock appreciation rights		21,643	$	100.30

(a)

Includes 26,652 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2020, and adjustments of (2,562

)

, 3,029 and 11,723 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2019, 2018, and 2017, respectively.

The fair value of each SAR is estimated on the date of grant using a

Black-Scholes option-pricing formula

For SARs issued in the six months ended June 30, 2020 and 2019 the data and assumptions shown in the following table were used:


	Six Months Ended June 30, 2020			Six Months Ended June 30, 2019
Weighted-average fair value of grants	$	35.37		$	29.56
Dividend yield		0	%		0	%
Average risk-free interest rate		1.3	%		2.5	%
Expected term (years)		5			5
Expected volatility		38.2	%		39.1	%

The Company recognizes stock-based compensation expense ratably over the period from the grant date to the earlier of: (1) the vesting date of the award, or (2) the date the grantee is eligible to retire without forfeiting the award. For performance-based restricted stock and performance-based restricted stock units, expense is recognized ratably over the performance and vesting period of each tranche based on management’s judgment of the ultimate award that is likely to be paid out based on the achievement of the predetermined performance measures. For the employee stock purchase plan, compensation expense is recognized related to the discount on purchases. Stock-based compensation expense in included in “Selling, general and administrative expenses” in the Condensed Consolidated Statements of Comprehensive Income. The following table summarizes the Company’s stock-based compensation expense (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Stock appreciation rights	$	96	$	203	$	450	$	498
Time-based restricted stock and restricted stock units		671		1,306		1,928		2,455
Performance-based restricted stock and restricted stock units		562		569		1,695		1,883
Employee stock purchase plan		200		47		230		82

Total stock-based compensation	$	1,529	$	2,125	$	4,303	$	4,918

Total unrecognized compensation cost related to unvested awards as of June 30, 2020 was $6.8 million. The cost of these unvested awards is being recognized over the requisite vesting period of each award.

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

15.	INCOME TAXES

The Company’s effective tax rate for the six months ended June 30, 2020 and 2019 was 24.8% and 22.7%, respectively, which resulted in expense of $29.5 million and $19.7 million, respectively. The

crease of 2.1% in the effective tax rate was primarily due to a current year

crease in excess tax benefits from the exercise of share-based payments and an increase in

non-deductible

executive compensation.

During the six months ended June 30, 2020 and 2019, the Company realized $1.1 million and $2.6 million, respectively, of excess tax benefits from stock-based awards and recorded a corresponding benefit to income tax expense.

The Company analyzes its deferred tax assets each reporting period, considering all available positive and negative evidence in determining the expected realization of those deferred tax assets. As of June 30, 2020, the Company maintains a valuation allowance of $3.0 million against deferred tax assets primarily related to state tax credits it estimates will expire before they are realized.

In response to

COVID-19,

Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) on March 27, 2020. The CARES Act provides numerous tax provisions and other stimulus measures, including deferring the due dates of certain tax payment requirements, including the employer portion of the Social Security tax, and the creation of certain refundable employee retention credits. The Company evaluated the impact on its consolidated financial statements and determined that as of June 30, 2020, the CARES Act did not have a material impact on its consolidated financial condition or results of operations and the Company did not receive any financial assistance under the CARES Act or similar programs.

The Company operates in multiple tax jurisdictions and, in the normal course of business, its tax returns are subject to examination by various taxing authorities. Such examinations may result in future assessments by these taxing authorities, and the Company accrues a liability when it believes that it is more likely than not that benefits of tax positions will not be realized. The Company believes that adequate provisions have been made for all tax returns subject to examination. As of June 30, 2020, for certain tax jurisdictions tax years 2016 through 2019 remain subject to examination. The Company’s

returns filed with the state of Michigan for the tax years 2016 through 2018 are currently under examination. No material adjustments are expected as a result of the audit. Sales made to foreign distributors are not taxable in any foreign jurisdiction as the Company does not have a taxable presence in any foreign jurisdiction.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

16.	SEGMENT INFORMATION

The Company operates in two reportable segments:

•

Trex Residential manufactures wood-alternative decking and residential railing and related products marketed under the brand name Trex

. Trex Residential products are sold to distributors and home centers for final resale primarily to the residential market, which includes replacement, remodeling and new construction related to outdoor living products.

•

Trex Commercial designs, engineers, and markets modular and architectural railing and staging systems for the commercial and multi-family market, including sports stadiums and performing arts venues. Trex Commercial products are marketed to architects, specifiers, contractors, and others doing business within the commercial and multi-family market.

The Company’s reportable segments have been determined in accordance with its internal management structure, which is organized based on residential and commercial sales activities. The Company evaluates performance of each segment primarily based on net sales and earnings before interest, income taxes, depreciation and amortization (EBITDA). The Company uses net sales to assess performance and allocate resources as this measure represents the amount of business the segment engaged in during a given period of time, is an indicator of market growth and acceptance of segment products, and represents the segment’s customers’ spending habits along with the amount of product the segment sells relative to its competitors. The Company uses EBITDA to assess performance and allocate resources because it believes that EBITDA facilitates performance comparison between the segments by eliminating interest, income taxes, and depreciation and amortization charges to income. The below segment data for the three and six months ended June 30, 2020 and 2019 includes data for Trex Residential and Trex Commercial (in thousands):

Segment Data:


	Three Months Ended June 30, 2020						Three Months Ended June 30, 2019
	Trex Residential		Trex Commercial		Total		Trex Residential		Trex Commercial		Total
Net sales	$	208,877	$	11,771	$	220,648	$	193,468	$	12,985	$	206,453
Net income	$	45,912	$	1,306	$	47,218	$	35,223	$	487	$	35,710
EBITDA	$	65,495	$	1,964	$	67,459	$	50,353	$	785	$	51,138
Depreciation and amortization	$	3,865	$	198	$	4,063	$	3,258	$	141	$	3,399
Income tax expense	$	15,789	$	460	$	16,249	$	11,866	$	164	$	12,030
Capital expenditures	$	39,610	$	270	$	39,880	$	10,124	$	290	$	10,414
Total assets	$	577,684	$	93,306	$	670,990	$	447,725	$	88,473	$	536,198

Reconciliation of Net Income to EBITDA:


	Three Months Ended June 30, 2020								Three Months Ended June 30, 2019
	Trex Residential			Trex Commercial		Total			Trex Residential		Trex Commercial			Total
Net income	$	45,912		$	1,306	$	47,218		$	35,223	$	487		$	35,710
Interest (income) expense , net		(71	)		—		(71	)		6		(7	)		(1	)
Income tax expense		15,789			460		16,249			11,866		164			12,030
Depreciation and amortization		3,865			198		4,063			3,258		141			3,399

EBITDA	$	65,495		$	1,964	$	67,459		$	50,353	$	785		$	51,138

Segment Data:


	Six Months Ended June 30, 2020						Six Months Ended June 30, 2019
	Trex Residential		Trex Commercial		Total		Trex Residential		Trex Commercial		Total
Net sales	$	395,751	$	25,292	$	421,043	$	358,947	$	27,077	$	386,024
Net income	$	86,932	$	2,688	$	89,620	$	66,478	$	787	$	67,265
EBITDA	$	122,445	$	4,001	$	126,446	$	92,419	$	1,312	$	93,731
Depreciation and amortization	$	7,529	$	386	$	7,915	$	6,525	$	268	$	6,793
Income tax expense	$	28,577	$	927	$	29,504	$	19,466	$	264	$	19,730
Capital expenditures	$	62,026	$	587	$	62,613	$	17,818	$	1,243	$	19,061
Total assets	$	577,684	$	93,306	$	670,990	$	447,725	$	88,473	$	536,198

Reconciliation of Net Income to EBITDA:


	Six Months Ended June 30, 2020								Six Months Ended June 30, 2019
	Trex Residential			Trex Commercial		Total			Trex Residential			Trex Commercial			Total
Net income	$	86,932		$	2,688	$	89,620		$	66,478		$	787		$	67,265
Interest income, net		(593	)		—		(593	)		(50	)		(7	)		(57	)
Income tax expense		28,577			927		29,504			19,466			264			19,730
Depreciation and amortization		7,529			386		7,915			6,525			268			6,793

EBITDA	$	122,445		$	4,001	$	126,446		$	92,419		$	1,312		$	93,731

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Seasonality

6 Months Ended

Jun. 30, 2020

Text Block [Abstract]

Seasonality

17.	SEASONALITY

The operating results for Trex Residential have historically varied from quarter to quarter. Seasonal, erratic or prolonged adverse weather conditions in certain geographic regions reduce the level of home improvement and construction activity and can shift demand for its products to a later period. As part of its normal business practice and consistent with industry practice, Trex Residential has historically offered incentive programs to its distributors and dealers to build inventory levels before the start of the prime deck-building season in order to ensure adequate availability of its product to meet anticipated seasonal consumer demand. The seasonal effects are often offset by the positive effect of the incentive programs. The operating results for Trex Commercial have not historically varied from quarter to quarter as a result of seasonality. However, they are driven by the timing of individual projects, which may vary each quarterly period.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

18.	COMMITMENTS AND CONTINGENCIES

Product Warranty

The Company warrants that its decking and residential railing products will be free from material defects in workmanship and materials for warranty periods ranging from 10 years to 25 years, depending on the product and its use. If there is a breach of such warranties, the Company has an obligation either to replace the defective product or refund the purchase price. The Company continues to receive and settle claims for products manufactured at its Nevada facility prior to 2007 that exhibit surface flaking and maintains a warranty reserve to provide for the settlement of these claims. Estimating the warranty reserve for surface flaking claims requires management to estimate (1) the number of claims to be settled with payment and (2) the average cost to settle each claim.

To estimate the number of claims to be settled with payment, the Company utilizes actuarial techniques to quantify both the expected number of claims to be received and the percentage of those claims that will ultimately require payment (collectively, elements). Estimates for these elements are quantified using a range of assumptions derived from claim count history and the identification of factors influencing the claim counts. The cost per claim varies due to a number of factors, including the size of affected decks, the availability and type of replacement material used, the cost of production of replacement material and the method of claim settlement.

The Company monitors surface flaking claims activity each quarter for indications that its estimates require revision. Typically, a majority of surface flaking claims received in a year are received during the summer outdoor season, which spans the second and third quarters. It has been the Company’s practice to utilize the actuarial techniques discussed above during the third quarter, after a significant portion of all claims has been received for the fiscal year and variances to annual claims expectations are more meaningful. The number of incoming claims received in the six months ended June 30, 2020, was higher than the number of claims received in the six months ended June 30, 2019 and exceeded the Company’s expectations for the current year. Average settlement cost per claim experienced in the six months ended June 30, 2020, was considerably higher than that experienced in the six months ended June 30, 2019, due to an increase in larger claims settled

and changes in the mix of settlement methods that occurred in the second half of 2019, but was consistent with the Company’s expectations for the current year and, and lower than that experienced for the full year ended December 31, 2019. The Company believes its reserve at June 30, 2020 is sufficient to cover future surface flaking obligations and no adjustments were required in the current period.

The Company’s analysis is based on currently known facts and a number of assumptions, as discussed above, and current expectations. Projecting future events such as the number of claims to be received, the number of claims that will require payment and the average cost of claims could cause actual warranty liabilities to be higher or lower than those projected, which could materially affect the Company’s consolidated financial condition, results of operations or cash flows. The Company estimates that the annual number of claims received will continue to decline over time and that the average cost per claim will increase slightly, primarily due to inflation. If the level of claims received or average cost per claim differs materially from expectations, it could result in additional increases or decreases to the warranty reserve and a decrease or increase in earnings and cash flows in future periods. The Company estimates that a 10% change in the expected number of remaining claims to be settled with payment or the expected cost to settle claims may result in approximately a $1.7 million change in the surface flaking warranty reserve.

The following is a reconciliation of the Company’s residential product warranty reserve (in thousands):


	Six Months Ended June 30, 2020
	Surface Flaking			Other Residential			Total
Beginning balance, January 1	$	19,024		$	6,470		$	25,494
Provisions and changes in estimates		—			946			946
Settlements made during the period		(1,700	)		(611	)		(2,311	)

Ending balance, June 30	$	17,324		$	6,805		$	24,129


	Six Months Ended June 30, 2019
	Surface Flaking			Other Residential			Total
Beginning balance, January 1	$	23,951		$	6,803		$	30,754
Provisions and changes in estimates		—			1,312			1,312
Settlements made during the period		(2,064	)		(666	)		(2,730	)

Ending balance, June 30	$	21,887		$	7,449		$	29,336

Legal Matters

The Company has lawsuits, as well as other claims, pending against it which are ordinary routine litigation and claims incidental to the business. Management has evaluated the merits of these lawsuits and claims, and believes that their ultimate resolution will not have a material effect on the Company’s consolidated financial condition, results of operations, liquidity or competitive position.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Stock-Based Compensation	The Company has one stock-based compensation plan, the 2014 Stock Incentive Plan (Plan), approved by the Company’s stockholders in April 2014. The Plan amended and restated in its entirety the Trex Company, Inc. 2005 Stock Incentive Plan. The Plan was subsequently amended and restated by the Company’s Board of Directors in May 2014 and May 2018. The Plan is administered by the Compensation Committee of the Company’s Board of Directors. Stock-based compensation is granted to officers, directors and certain key employees in accordance with the provisions of the Plan. The Plan provides for grants of stock options, restricted stock, restricted stock units, stock appreciation rights (SARs), and unrestricted stock. The total aggregate number of shares of the Company’s common stock that may be issued under the Plan is 12,840,000 and as of June 30, 2020, the total number of shares available for future issuance is 5,642,795.

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories valued at LIFO

(last-in,

first-out),

consist of the following (in thousands):


	June 30, 2020			December 31, 2019
Finished goods	$	31,764		$	42,281
Raw materials		35,584			31,686

Total FIFO (first-in, first-out) inventories		67,348			73,967
Reserve to adjust inventories to LIFO value		(19,062	)		(19,062	)

Total LIFO inventories	$	48,286		$	54,905

Prepaid Expenses and Other Assets (Tables)

6 Months Ended

Jun. 30, 2020

Text Block [Abstract]

Summary of Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist of the following (in thousands):


	June 30, 2020		December 31, 2019
Revenues in excess of billings	$	7,999	$	8,282
Prepaid expenses		8,762		6,664
Contract retainage		2,097		1,832
Income tax receivable		53		2,675
Other		605		350

Total prepaid expenses and other assets	$	19,516	$	19,803

Accrued Expenses and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Summary of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	June 30, 2020		December 31, 2019
Sales and marketing	$	26,319	$	28,402
Income taxes		19,069		—
Compensation and benefits		13,082		13,475
Operating lease liabilities		7,306		7,079
Manufacturing costs		2,677		2,564
Customer deposits		4,097		2,905
Billings in excess of revenues		1,423		816
Other		4,483		3,024

Total accrued expenses and other liabilities	$	78,456	$	58,265

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt


Pricing Tier	Consolidated Debt to Consolidated EBITDA Ratio		Eurodollar Rate Loans / LIBOR Index Rate			Base Rate Loans			Revolving B Commitment Fee
1		> 2.50:1.00		2.75	%		1.75	%		0.60	%
2		< 2.50:1.00 but > 2.00:1.00		2.50	%		1.50	%		0.55	%
3		< 2.00:1.00 but > 1.50:1.00		2.25	%		1.25	%		0.50	%
4		< 1.50:1.00		1.80	%		0.80	%		0.45	%

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Supplemental Cash Flow information and Supplemental balance sheet information related to operating leases to operating leases

	Six Months Ended
Supplemental cash flow information	June 30, 2020		June 30, 2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	4,258	$	4,242
Operating ROU assets obtained in exchange for lease liabilities	$	290	$	388

Supplemental balance sheet information	June 30, 2020		December 31, 2019
Operating lease ROU assets	$	36,926	$	40,049

Operating lease liabilities:
Accrued expenses and other current liabilities	$	7,306	$	7,079
Operating lease liabilities		30,776		34,242
Total operating lease liabilities	$	38,082	$	41,321

Maturities of operating lease liabilities

The following table summarizes maturities of operating lease liabilities at June 30, 2020 (in thousands):


Maturities of operating lease liabilities
2020	$	4,284
2021		8,398
2022		6,530
2023		6,138


2024		6,158
Thereafter		11,079

Total lease payments		42,587
Less imputed interest		(4,505	)

Total operating liabilities	$	38,082

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income available to common shareholders	$	47,218	$	35,710	$	89,620	$	67,265

Denominator:
Basic weighted average shares outstanding		57,866,967		58,486,192		57,998,247		58,514,676
Effect of dilutive securities:
Stock appreciation rights and options		89,871		129,839		90,297		141,958
Restricted stock		74,156		71,509		88,813		101,567

Diluted weighted average shares outstanding		58,030,994		58,687,540		58,177,357		58,758,201

Basic earnings per share	$	0.82	$	0.61	$	1.55	$	1.15

Diluted earnings per share	$	0.81	$	0.61	$	1.54	$	1.14

Antidilutive Securities Excluded from Computation of Earnings Per Share

The computation of diluted earnings per share excludes the following potentially dilutive securities because the effect would be anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Stock appreciation rights		19,792		24,536		14,464		18,675

Revenue From Contracts With Customers (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Summary of Disaggregated Net Sales

The tables also include a reconciliation of the respective disaggregated net sales with the Company’s reportable segments (in thousands).


Three Months Ended June 30, 2020	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	208,877	$	—	$	208,877
Products transferred over time and fixed price contracts		—		11,771		11,771

	$	208,777	$	11,771	$	220,648


Six Months Ended June 30, 2020	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	395,751	$	—	$	395,751
Products transferred over time and fixed price contracts		—		25,292		25,292
	$	395,751	$	25,292	$	421,043


Three Months Ended June 30, 2019	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	193,468	$	—	$	193,468
Products transferred over time and fixed price contracts		—		12,985		12,985

	$	193,468	$	12,985	$	206,453


Six Months Ended June 30, 2019	Reportable Segment
	Trex		Trex
	Residential		Commercial		Total
Timing of Revenue Recognition and Type of Contract
Products transferred at a point in time and variable consideration contracts	$	358,947	$	—	$	358,947
Products transferred over time and fixed price contracts		—		27,077		27,077

	$	358,947	$	27,077	$	386,024

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Stock-Based Compensation Grants

The following table summarizes the Company’s stock-based compensation grants for the six months ended June 30, 2020:


	Stock Awards Granted		Weighted-Average Grant Price Per Share
Time-based restricted stock units		21,689	$	99.95
Performance-based restricted stock units (a)		38,842	$	78.64
Stock appreciation rights		21,643	$	100.30

(a)

Includes 26,652 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2020, and adjustments of (2,562

)

, 3,029 and 11,723 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2019, 2018, and 2017, respectively.

Summary of Assumptions Used to Estimate Fair Value of Each SAR

For SARs issued in the six months ended June 30, 2020 and 2019 the data and assumptions shown in the following table were used:


	Six Months Ended June 30, 2020			Six Months Ended June 30, 2019
Weighted-average fair value of grants	$	35.37		$	29.56
Dividend yield		0	%		0	%
Average risk-free interest rate		1.3	%		2.5	%
Expected term (years)		5			5
Expected volatility		38.2	%		39.1	%

Summary of Stock-Based Compensation Expense

The following table summarizes the Company’s stock-based compensation expense (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Stock appreciation rights	$	96	$	203	$	450	$	498
Time-based restricted stock and restricted stock units		671		1,306		1,928		2,455
Performance-based restricted stock and restricted stock units		562		569		1,695		1,883
Employee stock purchase plan		200		47		230		82

Total stock-based compensation	$	1,529	$	2,125	$	4,303	$	4,918

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Details of Segment Information

The below segment data for the three and six months ended June 30, 2020 and 2019 includes data for Trex Residential and Trex Commercial (in thousands):

Segment Data:


	Three Months Ended June 30, 2020						Three Months Ended June 30, 2019
	Trex Residential		Trex Commercial		Total		Trex Residential		Trex Commercial		Total
Net sales	$	208,877	$	11,771	$	220,648	$	193,468	$	12,985	$	206,453
Net income	$	45,912	$	1,306	$	47,218	$	35,223	$	487	$	35,710
EBITDA	$	65,495	$	1,964	$	67,459	$	50,353	$	785	$	51,138
Depreciation and amortization	$	3,865	$	198	$	4,063	$	3,258	$	141	$	3,399
Income tax expense	$	15,789	$	460	$	16,249	$	11,866	$	164	$	12,030
Capital expenditures	$	39,610	$	270	$	39,880	$	10,124	$	290	$	10,414
Total assets	$	577,684	$	93,306	$	670,990	$	447,725	$	88,473	$	536,198

Segment Data:


	Six Months Ended June 30, 2020						Six Months Ended June 30, 2019
	Trex Residential		Trex Commercial		Total		Trex Residential		Trex Commercial		Total
Net sales	$	395,751	$	25,292	$	421,043	$	358,947	$	27,077	$	386,024
Net income	$	86,932	$	2,688	$	89,620	$	66,478	$	787	$	67,265
EBITDA	$	122,445	$	4,001	$	126,446	$	92,419	$	1,312	$	93,731
Depreciation and amortization	$	7,529	$	386	$	7,915	$	6,525	$	268	$	6,793
Income tax expense	$	28,577	$	927	$	29,504	$	19,466	$	264	$	19,730
Capital expenditures	$	62,026	$	587	$	62,613	$	17,818	$	1,243	$	19,061
Total assets	$	577,684	$	93,306	$	670,990	$	447,725	$	88,473	$	536,198

Schedule of Reconciliation of Net Income to EBITDA

Reconciliation of Net Income to EBITDA:


	Three Months Ended June 30, 2020								Three Months Ended June 30, 2019
	Trex Residential			Trex Commercial		Total			Trex Residential		Trex Commercial			Total
Net income	$	45,912		$	1,306	$	47,218		$	35,223	$	487		$	35,710
Interest (income) expense , net		(71	)		—		(71	)		6		(7	)		(1	)
Income tax expense		15,789			460		16,249			11,866		164			12,030
Depreciation and amortization		3,865			198		4,063			3,258		141			3,399

EBITDA	$	65,495		$	1,964	$	67,459		$	50,353	$	785		$	51,138

Reconciliation of Net Income to EBITDA:


	Six Months Ended June 30, 2020								Six Months Ended June 30, 2019
	Trex Residential			Trex Commercial		Total			Trex Residential			Trex Commercial			Total
Net income	$	86,932		$	2,688	$	89,620		$	66,478		$	787		$	67,265
Interest income, net		(593	)		—		(593	)		(50	)		(7	)		(57	)
Income tax expense		28,577			927		29,504			19,466			264			19,730
Depreciation and amortization		7,529			386		7,915			6,525			268			6,793

EBITDA	$	122,445		$	4,001	$	126,446		$	92,419		$	1,312		$	93,731

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of Reconciliation of Company's Residential Product Warranty Reserve

The following is a reconciliation of the Company’s residential product warranty reserve (in thousands):


	Six Months Ended June 30, 2020
	Surface Flaking			Other Residential			Total
Beginning balance, January 1	$	19,024		$	6,470		$	25,494
Provisions and changes in estimates		—			946			946
Settlements made during the period		(1,700	)		(611	)		(2,311	)

Ending balance, June 30	$	17,324		$	6,805		$	24,129


	Six Months Ended June 30, 2019
	Surface Flaking			Other Residential			Total
Beginning balance, January 1	$	23,951		$	6,803		$	30,754
Provisions and changes in estimates		—			1,312			1,312
Settlements made during the period		(2,064	)		(666	)		(2,730	)

Ending balance, June 30	$	21,887		$	7,449		$	29,336

Business and Organization - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020 Segment
Accounting Policies [Abstract]
Number of reportable segments	2

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 31,764	$ 42,281
Raw materials	35,584	31,686
Total FIFO inventories	67,348	73,967
Reserve to adjust inventories to LIFO value	(19,062)	(19,062)
Total LIFO inventories	$ 48,286	$ 54,905

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
LIFO inventory liquidations	$ 0
Raw materials	$ 1,400	$ 1,200

Prepaid Expenses and Other Assets - Summary of Prepaid Expenses and Other Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Prepaid Expense and Other Assets [Abstract]
Revenues in excess of billings	$ 7,999	$ 8,282
Prepaid expenses	8,762	6,664
Contract retainage	2,097	1,832
Income tax receivable	53	2,675
Other	605	350
Total prepaid expenses and other assets	$ 19,516	$ 19,803

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill [Line Items]
Amortization of intangible asset	$ 0.2	$ 0.2
Intangible Assets	6.3		$ 6.3
Accumulated Amortization	0.9		0.7
Commercial [Member]
Goodwill [Line Items]
Goodwill			$ 54.3
Residential [Member]
Goodwill [Line Items]
Goodwill	$ 14.2
Domain Names [Member]
Goodwill [Line Items]
Amortization period	15 years

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Sales and marketing	$ 26,319	$ 28,402
Income taxes	19,069
Compensation and benefits	13,082	13,475
Operating lease liabilities	7,306	7,079
Manufacturing costs	2,677	2,564
Customer deposits	4,097	2,905
Billings in excess of revenues	1,423	816
Other	4,483	3,024
Total accrued expenses and other liabilities	$ 78,456	$ 58,265

Debt - Schedule Of Debt (Detail)	6 Months Ended
Debt - Schedule Of Debt (Detail)	Jun. 30, 2020
Pricing Tier One [Member]
Line of Credit Facility [Line Items]
Consolidated Debt to Consolidated EBITDA Ratio	> 2.50:1.00
Revolving B Commitment Fee	0.60%
Pricing Tier Two [Member]
Line of Credit Facility [Line Items]
Consolidated Debt to Consolidated EBITDA Ratio	< 2.50:1.00 but > 2.00:1.00
Revolving B Commitment Fee	0.55%
Pricing Tier Three [Member]
Line of Credit Facility [Line Items]
Consolidated Debt to Consolidated EBITDA Ratio	< 2.50:1.00 but > 2.00:1.00
Revolving B Commitment Fee	0.50%
Pricing Tier Four [Member]
Line of Credit Facility [Line Items]
Consolidated Debt to Consolidated EBITDA Ratio	< 1.50:1.00
Revolving B Commitment Fee	0.45%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier One [Member]
Line of Credit Facility [Line Items]
Eurodollar Rate Loans / LIBOR Index	2.75%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier Two [Member]
Line of Credit Facility [Line Items]
Eurodollar Rate Loans / LIBOR Index	2.50%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier Three [Member]
Line of Credit Facility [Line Items]
Eurodollar Rate Loans / LIBOR Index	2.25%
London Interbank Offered Rate (LIBOR) [Member] \| Pricing Tier Four [Member]
Line of Credit Facility [Line Items]
Eurodollar Rate Loans / LIBOR Index	1.80%
Base Rate [Member] \| Pricing Tier One [Member]
Line of Credit Facility [Line Items]
Base Rate Loans	1.75%
Base Rate [Member] \| Pricing Tier Two [Member]
Line of Credit Facility [Line Items]
Base Rate Loans	1.50%
Base Rate [Member] \| Pricing Tier Three [Member]
Line of Credit Facility [Line Items]
Base Rate Loans	1.25%
Base Rate [Member] \| Pricing Tier Four [Member]
Line of Credit Facility [Line Items]
Base Rate Loans	0.80%

Debt - Additional Information (Detail) - USD ($)		3 Months Ended
Debt - Additional Information (Detail) - USD ($)	May 26, 2020	Jun. 30, 2020	Dec. 31, 2020
Line of Credit Facility [Line Items]
Outstanding borrowing capacity		$ 0
Remaining available borrowing capacity		$ 350,000,000	$ 300,000,000
Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Interest rate	0.50%
Eurodollar Rate Loans [Member]
Line of Credit Facility [Line Items]
Interest rate	1.00%
Fourth Amended And Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Termination date of the Credit Agreement		Nov. 05, 2024
Revolver Loans Portion Effective January 1 through June 30 [Member] \| Fourth Amended And Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		$ 250,000,000
Revolver Loans Portion Effective July 1 through December 31 [Member] \| Fourth Amended And Restated Credit Agreement [Member]
Line of Credit Facility [Line Items]
Revolving loans in a collective maximum principal amount		$ 200,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Additional Borrowing Capacity	$ 100,000,000
Revolving Credit Facility [Member] \| BOA [Member]
Line of Credit Facility [Line Items]
Lender Percentage	47.50%
Revolving Credit Facility [Member] \| Well Fargo [Member]
Line of Credit Facility [Line Items]
Lender Percentage	28.00%
Revolving Credit Facility [Member] \| Regions [Member]
Line of Credit Facility [Line Items]
Lender Percentage	24.50%

Leases - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Weighted average discount rate	3.64%		3.66%
Operating lease cost	$ 4.3	$ 4.2
Weighted average remaining lease term	6 years		6 years 6 months
Minimum [Member]
Operating Lease terms	1 year
Maximum [Member]
Operating Lease terms	8 years

Leases - Supplemental Cash flow Information to operating leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Supplemental cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,258	$ 4,242
Operating ROU assets obtained in exchange for lease liabilities	290	$ 388
Supplemental balance sheet information
Operating lease ROU assets	36,926		$ 40,049
Operating lease liabilities:
Accrued expenses and other current liabilities	7,306		7,079
Operating lease liabilities	30,776		34,242
Total operating lease liabilities	$ 38,082		$ 41,321

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Operating Lease Liabilities, Payments Due [Abstract]
2020	$ 4,284
2021	8,398
2022	6,530
2023	6,138
2024	6,158
Thereafter	11,079
Total lease payments	42,587
Less imputed interest	(4,505)
Total operating liabilities	$ 38,082	$ 41,321

Stockholders' Equity - Additional Information (Detail) - $ / shares		3 Months Ended			23 Months Ended
	Jul. 29, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2019	Jun. 30, 2020	Apr. 29, 2020	Feb. 19, 2020
Equity, Class of Treasury Stock [Line Items]
Common stock, shares authorized					180,000,000	180,000,000	180,000,000	120,000,000
Common stock, par value	$ 0.01				$ 0.01	$ 0.01
Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased by the Company		442,009	125,151	124,989
Description of stock split	two-for-one stock split
Stock Repurchase Programs [Member]
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized shares						5,800,000
Number of shares repurchased by the Company					1,400,000

Stockholders' Equity - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income available to common shareholders	$ 47,218	$ 42,402	$ 35,710	$ 31,555	$ 89,620	$ 67,265
Denominator:
Basic weighted average shares outstanding	57,866,967		58,486,192		57,998,247	58,514,676
Effect of dilutive securities:
Diluted weighted average shares outstanding	58,030,994		58,687,540		58,177,357	58,758,201
Basic earnings per share	$ 0.82		$ 0.61		$ 1.55	$ 1.15
Diluted earnings per share	$ 0.81		$ 0.61		$ 1.54	$ 1.14
Stock appreciation rights and options [Member]
Effect of dilutive securities:
Dilutive securities	89,871		129,839		90,297	141,958
Restricted stock [Member]
Effect of dilutive securities:
Dilutive securities	74,156		71,509		88,813	101,567

Stockholders' Equity - Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock appreciation rights [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share	19,792	24,536	14,464	18,675

Revenue From Contracts With Customers - Additional Information (Detail) $ in Millions	3 Months Ended
	Jun. 30, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 63.7
Revenue remaining performance obligation description	greater than one year

Revenue From Contracts With Customers - Summary of Disaggregated Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 220,648	$ 206,453	$ 421,043	$ 386,024
Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	208,877	193,468	395,751	358,947
Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	11,771	12,985	25,292	27,077
Residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	208,777	193,468	395,751	358,947
Residential [Member] \| Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	208,877	193,468	395,751	358,947
Residential [Member] \| Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0		0
Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	11,771	12,985	25,292	27,077
Commercial [Member] \| Products Transferred at a Point in Time and Variable Consideration Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	0		0
Commercial [Member] \| Products Transferred Over Time and Fixed Price Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from contract with customers	$ 11,771	$ 12,985	$ 25,292	$ 27,077

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Stock-Based Compensation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested awards \| $	$ 6.8
2014 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total aggregate number of shares of common stock that may be issued	12,840,000
Number of common stock available for future issuance	5,642,795
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value assumptions method used	Black-Scholes option-pricing formula

Stock-Based Compensation - Summary of Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,529	$ 2,125	$ 4,303	$ 4,918
Stock Appreciation Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	96	203	450	498
Time-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	671	1,306	1,928	2,455
Performance-Based Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	562	569	1,695	1,883
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 200	$ 47	$ 230	$ 82

Stock-Based Compensation - Summary of Assumptions Used to Estimate Fair Value of Each SAR (Detail) - Stock Appreciation Rights [Member] - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement by Share Based Payment Award Fair Value Assumptions and Methodology [Line Items]
Weighted-average fair value of grants	$ 35.37	$ 29.56
Dividend yield	0.00%	0.00%
Average risk-free interest rate	1.30%	2.50%
Expected term (years)	5 years	5 years
Expected volatility	38.20%	39.10%

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Detail)

6 Months Ended

Jun. 30, 2020

$ / shares

Time Based Restricted Stock Units [Member]

Stock Awards Granted | shares

21,689

Weighted-Average Grant Price Per Share | $ / shares

$ 99.95

Performance Based Restricted Stock Units [Member]

Stock Awards Granted | shares

38,842

^[1]

Weighted-Average Grant Price Per Share | $ / shares

$ 78.64

^[1]

Stock Appreciation Rights [Member]

Stock Awards Granted | shares

21,643

Weighted-Average Grant Price Per Share | $ / shares

$ 100.30

[1]

Includes 26,652 of target performance-based restricted stock unit awards granted during the six months ended June 30, 2020, and adjustments of (2,562), 3,029 and 11,723 to grants due to the actual performance level achieved for restricted stock and restricted stock units awarded in 2019, 2018, and 2017, respectively.

Stock-Based Compensation - Summary of Stock-Based Compensation Grants (Parenthetical) (Detail) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Performance Based Restricted Stock Unit Target [Member]
Stock Awards Granted	26,652
Performance Based Restricted Stock Unit Adjustment [Member]
Stock Awards Granted		2,562	3,029	11,723

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Contingency [Line Items]
Valuation allowance	$ 3,000		$ 3,000
Income tax expense (benefit)	$ 16,249	$ 12,030	$ 29,504	$ 19,730
Effective tax rate			24.80%	22.70%
Increase in effective tax rate due to decrease in domestic production activities deduction			2.10%
Excess tax benefits from stock based awards			$ 1,100	$ 2,600
Earliest Tax Year [Member] \| Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2016
Latest Tax Year [Member] \| Federal Tax Jurisdiction [Member]
Income Tax Contingency [Line Items]
Tax years subject to examination			2019

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2020 Segment
Segment Reporting Information [Line Items]
Number of reportable segment	2

Segment Information - Details of Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 220,648		$ 206,453		$ 421,043	$ 386,024
Net income	47,218	$ 42,402	35,710	$ 31,555	89,620	67,265
Depreciation and amortization					7,915	6,792
Income tax expense	16,249		12,030		29,504	19,730
Total Assets	670,990				670,990		$ 592,239
Residential [Member]
Segment Reporting Information [Line Items]
Net sales	208,777		193,468		395,751	358,947
Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	11,771		12,985		25,292	27,077
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	220,648		206,453		421,043	386,024
Net income	47,218		35,710		89,620	67,265
EBITDA	67,459		51,138		126,446	93,731
Depreciation and amortization	4,063		3,399		7,915	6,793
Income tax expense	16,249		12,030		29,504	19,730
Capital expenditures	39,880		10,414		62,613	19,061
Total Assets	670,990		536,198		670,990	536,198
Operating Segments [Member] \| Residential [Member]
Segment Reporting Information [Line Items]
Net sales	208,877		193,468		395,751	358,947
Net income	45,912		35,223		86,932	66,478
EBITDA	65,495		50,353		122,445	92,419
Depreciation and amortization	3,865		3,258		7,529	6,525
Income tax expense	15,789		11,866		28,577	19,466
Capital expenditures	39,610		10,124		62,026	17,818
Total Assets	577,684		447,725		577,684	447,725
Operating Segments [Member] \| Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	11,771		12,985		25,292	27,077
Net income	1,306		487		2,688	787
EBITDA	1,964		785		4,001	1,312
Depreciation and amortization	198		141		386	268
Income tax expense	460		164		927	264
Capital expenditures	270		290		587	1,243
Total Assets	$ 93,306		$ 88,473		$ 93,306	$ 88,473

Segment Information - Schedule of Reconciliation of Net Income to EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net income	$ 47,218	$ 42,402	$ 35,710	$ 31,555	$ 89,620	$ 67,265
Interest (income) expense, net	(71)		(1)		(593)	(57)
Income tax expense	16,249		12,030		29,504	19,730
Depreciation and Amortization					7,915	6,792
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net income	47,218		35,710		89,620	67,265
Interest (income) expense, net	(71)		(1)		(593)	(57)
Income tax expense	16,249		12,030		29,504	19,730
Depreciation and Amortization	4,063		3,399		7,915	6,793
EBITDA	67,459		51,138		126,446	93,731
Operating Segments [Member] \| Residential [Member]
Segment Reporting Information [Line Items]
Net income	45,912		35,223		86,932	66,478
Interest (income) expense, net	(71)		6		(593)	(50)
Income tax expense	15,789		11,866		28,577	19,466
Depreciation and Amortization	3,865		3,258		7,529	6,525
EBITDA	65,495		50,353		122,445	92,419
Operating Segments [Member] \| Commercial [Member]
Segment Reporting Information [Line Items]
Net income	1,306		487		2,688	787
Interest (income) expense, net			(7)			(7)
Income tax expense	460		164		927	264
Depreciation and Amortization	198		141		386	268
EBITDA	$ 1,964		$ 785		$ 4,001	$ 1,312

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
Schedule Of Commitments And Contingencies [Line Items]
Change in warranty reserve for disclosure purposes only	$ 1.7
Minimum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	10 years
Maximum [Member]
Schedule Of Commitments And Contingencies [Line Items]
Warranty period	25 years
Surface Flaking Warranty Reserve [Member]
Schedule Of Commitments And Contingencies [Line Items]
Percentage change in warranty claims used as a threshold for disclosure	10.00%

Commitments and Contingencies - Summary of Reconciliation of Company's Residential Product Warranty Reserve (Detail) - Surface Flaking Warranty Reserve [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Product Warranty Liability [Line Items]
Beginning balance	$ 25,494	$ 30,754
Provisions and changes in estimates	946	1,312
Settlements made during the period	(2,311)	(2,730)
Ending balance	24,129	29,336
Surface Flaking [Member]
Product Warranty Liability [Line Items]
Beginning balance	19,024	23,951
Settlements made during the period	(1,700)	(2,064)
Ending balance	17,324	21,887
Other Residential [Member]
Product Warranty Liability [Line Items]
Beginning balance	6,470	6,803
Provisions and changes in estimates	946	1,312
Settlements made during the period	(611)	(666)
Ending balance	$ 6,805	$ 7,449