10-Q Filing

BUILDERS FIRSTSOURCE, INC. CIK: 1316835 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-020447`
Period End Date	20200331
Filing Date	20200501
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	bldr-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 68 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$18.50M	USD	Point-in-time
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$13.49M	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`	$163.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.10M	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
Accounts receivable, less allowances of $18,496 and $13,492 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$614.95M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowances of $18,496 and $13,492 at March 31, 2020 and December 31, 2019, respectively	`AccountsReceivableNetCurrent`	$702.19M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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`	$54.65M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$77.45M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$640.05M	USD	Point-in-time
Inventories, net	`InventoryNet`	$561.25M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$39.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$44.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.31B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.55M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.60B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	116.55M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$721.89M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$730.74M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	116.05M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$285.96M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$292.68M	USD	Point-in-time
Goodwill	`Goodwill`	$777.28M	USD	Point-in-time
Goodwill	`Goodwill`	$769.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$128.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$132.16M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.39M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.42M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$22.23M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$21.93M	USD	Point-in-time
Total assets	`Assets`	$3.25B	USD	Point-in-time
Total assets	`Assets`	$3.56B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$436.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$551.55M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$308.95M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$223.32M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$61.65M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$61.63M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$13.88M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$22.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$821.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$859.01M	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$236.95M	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$230.35M	USD	Point-in-time
Long-term debt, net of current maturities, debt discount, and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$1.55B	USD	Point-in-time
Long-term debt, net of current maturities, debt discount, and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$1.28B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$36.65M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$37.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$55.74M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$52.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.42B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.73B	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`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; 116,545 and 116,052 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.17M	USD	Point-in-time
Common stock, $0.01 par value, 200,000 shares authorized; 116,545 and 116,052 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$1.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$574.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$574.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$248.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$257.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$833.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$824.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$596.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$632.47M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.56B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$3.25B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.79B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.63B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.32B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.19B	USD	1 Quarter
Gross margin	`GrossProfit`	$465.41M	USD	1 Quarter
Gross margin	`GrossProfit`	$441.98M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$370.08M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$404.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$71.89M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$60.95M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-51.93M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-24.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.02M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$46.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.28M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$249.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$35.71M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.71M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.77M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	115.42M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	116.26M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	116.53M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Purchases of property, plant and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$5.20M	USD	1 Quarter
Purchases of property, plant and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.90M	USD	1 Quarter
Net income	`ProfitLoss`	$8.77M	USD	1 Quarter
Net income	`ProfitLoss`	$35.71M	USD	1 Quarter
Assets acquired under operating lease obligations	`AssetsAcquiredUnderOperatingLeaseObligations`	$9.50M	USD	1 Quarter
Assets acquired under operating lease obligations	`AssetsAcquiredUnderOperatingLeaseObligations`	$15.70M	USD	1 Quarter
Assets acquired under finance lease obligations	`AssetsAcquiredUnderFinanceLeaseObligations`	$2.70M	USD	1 Quarter
Assets acquired under finance lease obligations	`AssetsAcquiredUnderFinanceLeaseObligations`	$2.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.40M	USD	1 Quarter
Cash payment for interest	`InterestPaid`	$21.70M	USD	1 Quarter
Cash payment for interest	`InterestPaid`	$33.60M	USD	1 Quarter
Amortization of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.15M	USD	1 Quarter
Amortization of debt issuance costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$684.00K	USD	1 Quarter
Loss (gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-5.35M	USD	1 Quarter
Loss (gain) on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$680.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$9.64M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$875.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.66M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$3.25M	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$464.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$133.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$62.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-22.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$78.59M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$38.60M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-4.73M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.00M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-26.29M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.32M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$108.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$47.37M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-100.39M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-87.84M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-50.65M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.08M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.50M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.52M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$720.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$538.00K	USD	1 Quarter
Cash used for acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$15.89M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.80M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.85M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$681.00M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$374.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$331.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$398.00M	USD	1 Quarter
Proceeds from long-term debt and other loans	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$550.00M	USD	1 Quarter
Repayments of long-term debt and other loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$24.44M	USD	1 Quarter
Repayments of long-term debt and other loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$554.26M	USD	1 Quarter
Payments of debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$22.69M	USD	1 Quarter
Payments of loan costs	`PaymentsOfFinancingCosts`	$8.33M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$398.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$216.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.83M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.45M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$244.28M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$16.33M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$149.78M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.60M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.72M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.13M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.72M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.13M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$163.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$14.10M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$833.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$824.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$596.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$632.47M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.55M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.05M	shares	Point-in-time
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.66M	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.25M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$398.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$216.00K	USD	1 Quarter
Shares withheld for restricted stock units vested	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.45M	USD	1 Quarter
Shares withheld for restricted stock units vested	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$35.71M	USD	1 Quarter
Balance	`StockholdersEquity`	$833.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$824.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$596.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$632.47M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.55M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.05M	shares	Point-in-time

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