$BLDR
Builders FirstSource, Inc.

2018 Q2 Form 10-Q Financial Statement

#000156459018020339 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $2.090B $1.843B
YoY Change 13.38% 9.9%
Cost Of Revenue $1.594B $1.383B
YoY Change 15.27% 9.81%
Gross Profit $496.3M $460.8M
YoY Change 7.71% 10.15%
Gross Profit Margin 23.75% 25.0%
Selling, General & Admin $391.8M $369.5M
YoY Change 6.04% 8.07%
% of Gross Profit 78.94% 80.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.77M $24.17M
YoY Change 2.46% -20.89%
% of Gross Profit 4.99% 5.25%
Operating Expenses $391.7M $369.5M
YoY Change 6.01% 8.07%
Operating Profit $104.6M $91.30M
YoY Change 14.6% 19.45%
Interest Expense -$28.96M -$33.70M
YoY Change -14.07% -21.26%
% of Operating Profit -27.68% -36.91%
Other Income/Expense, Net
YoY Change
Pretax Income $75.60M $57.60M
YoY Change 31.25% 71.43%
Income Tax $19.00M $19.70M
% Of Pretax Income 25.13% 34.2%
Net Earnings $56.62M $37.91M
YoY Change 49.36% 28.77%
Net Earnings / Revenue 2.71% 2.06%
Basic Earnings Per Share $0.49 $0.34
Diluted Earnings Per Share $0.49 $0.33
COMMON SHARES
Basic Shares Outstanding 114.6M
Diluted Shares Outstanding 116.7M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.20M $6.900M
YoY Change 91.3% 11.29%
Cash & Equivalents $13.20M $6.931M
Short-Term Investments
Other Short-Term Assets $39.30M $39.33M
YoY Change -0.08% 38.49%
Inventory $782.8M $651.0M
Prepaid Expenses
Receivables $820.4M $720.6M
Other Receivables $71.30M $52.60M
Total Short-Term Assets $1.727B $1.470B
YoY Change 17.45% 11.49%
LONG-TERM ASSETS
Property, Plant & Equipment $655.6M $643.3M
YoY Change 1.91% -7.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $80.50M $130.9M
YoY Change -38.5% 309.06%
Total Long-Term Assets $1.596B $1.660B
YoY Change -3.88% 0.85%
TOTAL ASSETS
Total Short-Term Assets $1.727B $1.470B
Total Long-Term Assets $1.596B $1.660B
Total Assets $3.323B $3.131B
YoY Change 6.14% 5.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $562.5M $503.5M
YoY Change 11.71% 4.34%
Accrued Expenses $250.4M $265.6M
YoY Change -5.72% 7.71%
Deferred Revenue
YoY Change
Short-Term Debt $19.80M $32.70M
YoY Change -39.45% -17.22%
Long-Term Debt Due $14.00M $12.90M
YoY Change 8.53% -54.74%
Total Short-Term Liabilities $846.8M $814.8M
YoY Change 3.93% 2.2%
LONG-TERM LIABILITIES
Long-Term Debt $1.954B $1.888B
YoY Change 3.52% -1.15%
Other Long-Term Liabilities $60.40M $61.00M
YoY Change -0.98% -31.54%
Total Long-Term Liabilities $2.015B $1.949B
YoY Change 3.38% -2.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $846.8M $814.8M
Total Long-Term Liabilities $2.015B $1.949B
Total Liabilities $2.861B $2.764B
YoY Change 3.54% -1.16%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $461.5M $367.1M
YoY Change
Total Liabilities & Shareholders Equity $3.323B $3.131B
YoY Change 6.14% 5.58%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $56.62M $37.91M
YoY Change 49.36% 28.77%
Depreciation, Depletion And Amortization $24.77M $24.17M
YoY Change 2.46% -20.89%
Cash From Operating Activities $9.300M $60.10M
YoY Change -84.53% 472.38%
INVESTING ACTIVITIES
Capital Expenditures -$29.80M -$14.80M
YoY Change 101.35% 8.03%
Acquisitions
YoY Change
Other Investing Activities $500.0K $1.600M
YoY Change -68.75% -147.06%
Cash From Investing Activities -$29.40M -$13.30M
YoY Change 121.05% -22.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.10M -44.40M
YoY Change -152.03% -582.61%
NET CHANGE
Cash From Operating Activities 9.300M 60.10M
Cash From Investing Activities -29.40M -13.30M
Cash From Financing Activities 23.10M -44.40M
Net Change In Cash 3.000M 2.400M
YoY Change 25.0% -7.69%
FREE CASH FLOW
Cash From Operating Activities $9.300M $60.10M
Capital Expenditures -$29.80M -$14.80M
Free Cash Flow $39.10M $74.90M
YoY Change -47.8% 209.5%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2089888000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1843297000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3376361000
CY2018Q2 us-gaap Profit Loss
ProfitLoss
56622000
CY2017Q2 us-gaap Profit Loss
ProfitLoss
37910000
us-gaap Profit Loss
ProfitLoss
79842000
us-gaap Profit Loss
ProfitLoss
41732000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3790324000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-76346000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24568000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2004000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-22564000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
687000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
588000000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-168969000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
57533000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14449000
us-gaap Share Based Compensation
ShareBasedCompensation
6428000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
18863000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
15573000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
177765000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
148089000
us-gaap Share Based Compensation
ShareBasedCompensation
6379000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
189925000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
107865000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
5693000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
3605000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-19915000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-27657000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49948000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1075000
CY2017Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6931000
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
326000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
47587000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2308000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-2498000
us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-3417000
bldr Increase Decrease In Accounts Payable And Checks Outstanding
IncreaseDecreaseInAccountsPayableAndChecksOutstanding
67129000
bldr Increase Decrease In Accounts Payable And Checks Outstanding
IncreaseDecreaseInAccountsPayableAndChecksOutstanding
89226000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48873000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
904000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
721000000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
6852000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
5294000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2799000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2212000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2958000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4855000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2473000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
173505000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
91392000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-44337000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-7518000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13196000
bldr Non Cash Retirement Of Assets Related To Lease Finance Obligations
NonCashRetirementOfAssetsRelatedToLeaseFinanceObligations
600000
us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-2988000
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3022000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2330000
CY2017Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
19031000
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.042
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.034
bldr Non Cash Retirement Of Assets Related To Lease Finance Obligations
NonCashRetirementOfAssetsRelatedToLeaseFinanceObligations
5900000
bldr Non Cash Extinguishment Of Lease Finance Obligations
NonCashExtinguishmentOfLeaseFinanceObligations
600000
bldr Non Cash Extinguishment Of Lease Finance Obligations
NonCashExtinguishmentOfLeaseFinanceObligations
5900000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6428000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2379000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
4855000
us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
1468000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
6800000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
9900000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3700000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
200000
us-gaap Year Founded
YearFounded
1998
CY2018Q2 bldr Number Of Locations
NumberOfLocations
400
CY2018Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
40
bldr Usual Completion Period For Contracts With Service Elements
UsualCompletionPeriodForContractsWithServiceElements
P30D
bldr Revenue From Contract With Customer Types
RevenueFromContractWithCustomerTypes
We recognize revenue as performance obligations are satisfied by transferring control of a promised good or service to a customer in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We generally classify our revenues into two types: (i) distribution sales; or (ii) sales related to contracts with service elements. Sales related to contracts with service elements represents less than 10% of the Company’s net sales for each period presented.
us-gaap Revenue Performance Obligation Satisfied Over Time Method Used Explanation
RevenuePerformanceObligationSatisfiedOverTimeMethodUsedExplanation
We consider costs incurred to be indicative of goods and services delivered to the customer.
us-gaap Revenue Performance Obligation Satisfied Over Time Method Used Description
RevenuePerformanceObligationSatisfiedOverTimeMethodUsedDescription
As such, we use a cost based input method to recognize revenue on our contracts with service elements as it best depicts the transfer of assets to our customers.
us-gaap Revenue Practical Expedient Incremental Cost Of Obtaining Contract
RevenuePracticalExpedientIncrementalCostOfObtainingContract
true
us-gaap Revenue Practical Expedient Remaining Performance Obligation
RevenuePracticalExpedientRemainingPerformanceObligation
true
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47500000
CY2017Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
37200000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2057000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2820000
CY2018Q2 bldr Lease Finance Obligation
LeaseFinanceObligation
223885000
CY2017Q4 bldr Lease Finance Obligation
LeaseFinanceObligation
225070000
CY2018Q2 bldr Capital Lease Obligations Gross
CapitalLeaseObligationsGross
18464000
CY2017Q4 bldr Capital Lease Obligations Gross
CapitalLeaseObligationsGross
15431000
CY2018Q2 bldr Long Term Debt And Lease Obligations Gross
LongTermDebtAndLeaseObligationsGross
1985949000
CY2017Q4 bldr Long Term Debt And Lease Obligations Gross
LongTermDebtAndLeaseObligationsGross
1803451000
CY2018Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
17735000
CY2018Q2 bldr Debt And Lease Obligations
DebtAndLeaseObligations
1968214000
CY2017Q4 bldr Debt And Lease Obligations
DebtAndLeaseObligations
1784420000
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2017Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.064
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.001
CY2017Q2 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.006
CY2018Q2 bldr Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.006
CY2017Q2 bldr Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.014
bldr Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.008
bldr Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.013
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.251
CY2018Q2 bldr Number Of Geographic Regions In Which Entity Operates
NumberOfGeographicRegionsInWhichEntityOperates
9
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
9
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24768000
CY2017Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
24173000

Files In Submission

Name View Source Status
0001564590-18-020339-index-headers.html Edgar Link pending
0001564590-18-020339-index.html Edgar Link pending
0001564590-18-020339.txt Edgar Link pending
0001564590-18-020339-xbrl.zip Edgar Link pending
bldr-10q_20180630.htm Edgar Link pending
bldr-20180630.xml Edgar Link completed
bldr-20180630.xsd Edgar Link pending
bldr-20180630_cal.xml Edgar Link unprocessable
bldr-20180630_def.xml Edgar Link unprocessable
bldr-20180630_lab.xml Edgar Link unprocessable
bldr-20180630_pre.xml Edgar Link unprocessable
bldr-ex311_6.htm Edgar Link pending
bldr-ex312_7.htm Edgar Link pending
bldr-ex321_8.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending