10-Q Filing

BUILDERS FIRSTSOURCE, INC. CIK: 1316835 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-012890`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	bldr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 28 Cash Flow Statement 64 Stockholders Equity 14

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$11.77M	USD	Point-in-time
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$11.87M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.53M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.45M	USD	Point-in-time
Accounts receivable, less allowances of $11,874 and $11,771 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$710.45M	USD	Point-in-time
Accounts receivable, less allowances of $11,874 and $11,771 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$631.99M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$71.23M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$60.76M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$601.55M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$678.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.05M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$33.56M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.50B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	114.62M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	113.57M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.40B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	114.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.57M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$639.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$643.72M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroup`	$5.27M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroup`	$5.27M	USD	Point-in-time
Goodwill	`Goodwill`	$740.41M	USD	Point-in-time
Goodwill	`Goodwill`	$740.41M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$126.36M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$132.57M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$75.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$73.09M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$17.72M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$17.60M	USD	Point-in-time
Total assets	`Assets`	$3.11B	USD	Point-in-time
Total assets	`Assets`	$3.01B	USD	Point-in-time
Checks outstanding	`ChecksOutstandingCurrent`	$31.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$488.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$514.28M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$187.80M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$271.60M	USD	Point-in-time
Current maturities of long-term debt and lease obligations	`LongTermDebtAndLeaseObligationsCurrent`	$12.47M	USD	Point-in-time
Current maturities of long-term debt and lease obligations	`LongTermDebtAndLeaseObligationsCurrent`	$12.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$798.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$719.39M	USD	Point-in-time
Long-term debt and lease obligations, net of current maturities, debt discount and debt issuance costs	`LongTermDebtAndLeaseObligations`	$1.93B	USD	Point-in-time
Long-term debt and lease obligations, net of current maturities, debt discount and debt issuance costs	`LongTermDebtAndLeaseObligations`	$1.77B	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$59.62M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$60.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.71B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.63B	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 200,000 shares authorized; 114,619 and 113,572 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$1.14M	USD	Point-in-time
Common stock, $0.01 par value, 200,000 shares authorized; 114,619 and 113,572 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$1.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$546.77M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$546.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-147.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-171.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$376.21M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$400.97M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.01B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.11B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$1.70B	USD	1 Quarter
Sales	`SalesRevenueNet`	$1.53B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.16B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.29B	USD	1 Quarter
Gross margin	`GrossProfit`	$411.05M	USD	1 Quarter
Gross margin	`GrossProfit`	$376.05M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$335.77M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$358.91M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$40.28M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$52.14M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$36.16M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$26.74M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.12M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$25.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$298.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.82M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.82M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$23.22M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	111.96M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	114.09M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.70M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	114.58M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Non cash retirement of assets related to lease finance obligations	`NonCashRetirementOfAssetsRelatedToLeaseFinanceObligations`	$600.00K	USD	1 Quarter
Non cash retirement of assets related to lease finance obligations	`NonCashRetirementOfAssetsRelatedToLeaseFinanceObligations`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.82M	USD	1 Quarter
Non cash extinguishment of related lease finance obligation	`NonCashExtinguishmentOfLeaseFinanceObligations`	$600.00K	USD	1 Quarter
Equipment purchased and financed through capital lease obligations	`CapitalLeaseObligationsIncurred`	$1.20M	USD	1 Quarter
Equipment purchased and financed through capital lease obligations	`CapitalLeaseObligationsIncurred`	$3.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.82M	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$400.00K	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$3.20M	USD	1 Quarter
Amortization and write-off of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.15M	USD	1 Quarter
Amortization and write-off of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$2.44M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$40.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$443.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$681.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.89M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.90M	USD	1 Quarter
Net loss (gain) on sale of assets and asset impairments	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-3.15M	USD	1 Quarter
Net loss (gain) on sale of assets and asset impairments	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$245.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$41.66M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$57.58M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$85.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$76.24M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$9.48M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$6.12M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-1.55M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet`	$-348.00K	USD	1 Quarter
Accounts payable and checks outstanding	`IncreaseDecreaseInAccountsPayableAndChecksOutstanding`	$50.95M	USD	1 Quarter
Accounts payable and checks outstanding	`IncreaseDecreaseInAccountsPayableAndChecksOutstanding`	$4.38M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-100.34M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-83.01M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-178.32M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-136.44M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.11M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.78M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$449.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$568.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-19.55M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$555.00M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$457.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$399.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$315.00M	USD	1 Quarter
Repayments of long-term debt and other loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.63M	USD	1 Quarter
Repayments of long-term debt and other loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.78M	USD	1 Quarter
Payments of loan costs	`PaymentsOfFinancingCosts`	$2.77M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.70M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.04M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.86M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.47M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$150.41M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$135.84M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-47.46M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.93M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.51M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.45M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$376.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$400.97M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	114.62M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	113.57M	shares	Point-in-time
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.89M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.04M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$4.86M	USD	1 Quarter
Cumulative effect adjustment (Note 1)	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$1.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.82M	USD	1 Quarter
Balance	`StockholdersEquity`	$376.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$400.97M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	114.62M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	113.57M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.