10-Q Filing

BUILDERS FIRSTSOURCE, INC. CIK: 1316835 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-024887`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	bldr-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 26 Cash Flow Statement 70 Stockholders Equity 21

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$30.63M	USD	Point-in-time
Allowances on trade accounts receivable	`AllowancesOnTradeAccountsReceivableCurrent`	$17.64M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$423.81M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.12M	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
Accounts receivable, less allowances of $30,630 and $17,637 at March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$1.75B	USD	Point-in-time
Accounts receivable, less allowances of $30,630 and $17,637 at March 31, 2021 and December 31, 2020, respectively	`AccountsReceivableNetCurrent`	$880.02M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$96.83M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$76.44M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.59B	USD	Point-in-time
Inventories, net	`InventoryNet`	$784.53M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$58.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$119.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	206.86M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$2.22B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.57B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	116.83M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.30B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	206.86M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$749.13M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$442.44M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$274.56M	USD	Point-in-time
Goodwill	`Goodwill`	$785.30M	USD	Point-in-time
Goodwill	`Goodwill`	$2.54B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.88M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.50B	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$30.48M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$21.11M	USD	Point-in-time
Total assets	`Assets`	$4.17B	USD	Point-in-time
Total assets	`Assets`	$9.38B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.12B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$600.36M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$628.92M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$385.54M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$94.32M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$61.62M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$27.34M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$14.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.07B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.86B	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$356.55M	USD	Point-in-time
Noncurrent portion of operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$219.24M	USD	Point-in-time
Long-term debt, net of current maturities, debt discount, and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$1.66B	USD	Point-in-time
Long-term debt, net of current maturities, debt discount, and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$1.60B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$49.49M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$390.58M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$129.15M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$80.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.40B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.02B	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`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, 300,000 shares authorized; 206,858 and 116,829 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$2.07M	USD	Point-in-time
Common stock, $0.01 par value, 300,000 shares authorized; 206,858 and 116,829 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$1.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$589.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.25B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$734.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$562.37M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$824.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$833.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.98B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.15B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.17B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$9.38B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.79B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.17B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.32B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$3.10B	USD	1 Quarter
Gross margin	`GrossProfit`	$1.07B	USD	1 Quarter
Gross margin	`GrossProfit`	$465.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$821.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$404.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$247.96M	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`	$-31.84M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$216.11M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.02M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$249.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$43.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$172.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.77M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.84	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.83	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	206.57M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	116.26M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	117.49M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	208.62M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$8.77M	USD	1 Quarter
Net income	`ProfitLoss`	$172.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$29.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$134.33M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$875.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-8.86M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.25M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$10.40M	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-2.87M	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-5.90M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$384.12M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$62.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$78.59M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$340.94M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$27.66M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.00M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-2.00M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-26.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$241.62M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$108.30M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-87.84M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.73M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-200.51M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-50.65M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$39.26M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$28.50M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.19M	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$538.00K	USD	1 Quarter
Cash acquired in BMC Merger	`CashAcquiredFromAcquisition`	$167.49M	USD	1 Quarter
Cash used for acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$15.89M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$131.42M	USD	1 Quarter
Net cash provided by (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`	$410.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$398.00M	USD	1 Quarter
Repayments under revolving credit facility	`RepaymentsOfLinesOfCredit`	$260.00M	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`	$554.26M	USD	1 Quarter
Repayments of long-term debt and other loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$468.67M	USD	1 Quarter
Payments of debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$2.48M	USD	1 Quarter
Payments of debt extinguishment costs	`PaymentsOfDebtExtinguishmentCosts`	$22.69M	USD	1 Quarter
Payments of loan costs	`PaymentsOfFinancingCosts`	$8.33M	USD	1 Quarter
Payments of loan costs	`PaymentsOfFinancingCosts`	$4.27M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$235.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$398.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.83M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$10.42M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-335.60M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$244.28M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$149.78M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-404.69M	USD	1 Quarter
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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$423.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$19.12M	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
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$423.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$19.12M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$21.92M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$21.65M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$150.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$21.70M	USD	1 Quarter
Non-cash consideration for the BMC Merger	`NonCashConsiderationForMerger`	$3.66B	USD	1 Quarter
Accrued purchases of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$6.73M	USD	1 Quarter
Accrued purchases of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$5.24M	USD	1 Quarter
Acquisition of assets under operating lease obligations	`AssetsAcquiredUnderOperatingLeaseObligations`	$9.44M	USD	1 Quarter
Acquisition of assets under operating lease obligations	`AssetsAcquiredUnderOperatingLeaseObligations`	$13.71M	USD	1 Quarter
Acquisition of assets under finance lease obligations	`AssetsAcquiredUnderFinanceLeaseObligations`	$1.64M	USD	1 Quarter
Acquisition of assets under finance lease obligations	`AssetsAcquiredUnderFinanceLeaseObligations`	$2.68M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$824.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$833.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.98B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.83M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	206.86M	shares	Point-in-time
Merger consideration	`StockIssuedDuringPeriodValueAcquisitions`	$3.66B	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$10.40M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.25M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$398.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$235.00K	USD	1 Quarter
Shares withheld for restricted stock units vested	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.83M	USD	1 Quarter
Shares withheld for restricted stock units vested	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$172.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.77M	USD	1 Quarter
Balance	`StockholdersEquity`	$824.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$833.54M	USD	Point-in-time
Balance	`StockholdersEquity`	$4.98B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	116.83M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	206.86M	shares	Point-in-time

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