$BLDR
Builders FirstSource, Inc.

2017 Q4 Form 10-Q Financial Statement

#000156459018026435 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3
Revenue $1.779B $1.879B
YoY Change 15.0% 7.61%
Cost Of Revenue $1.348B $1.420B
YoY Change 16.65% 8.46%
Gross Profit $431.2M $459.3M
YoY Change 10.12% 5.09%
Gross Profit Margin 24.24% 24.45%
Selling, General & Admin $366.4M $370.6M
YoY Change 7.54% 5.64%
% of Gross Profit 84.97% 80.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.20M $23.03M
YoY Change -3.06% -9.87%
% of Gross Profit 5.15% 5.01%
Operating Expenses $366.4M $370.6M
YoY Change 7.54% 5.64%
Operating Profit $64.82M $88.72M
YoY Change 27.41% 2.81%
Interest Expense -$89.50M -$33.80M
YoY Change 101.58% -63.38%
% of Operating Profit -138.07% -38.1%
Other Income/Expense, Net
YoY Change
Pretax Income -$24.70M $54.80M
YoY Change -480.0% -1013.33%
Income Tax -$11.00M $15.10M
% Of Pretax Income 27.55%
Net Earnings -$42.70M $39.75M
YoY Change -766.06% -68.32%
Net Earnings / Revenue -2.4% 2.12%
Basic Earnings Per Share -$0.38 $0.35
Diluted Earnings Per Share -$0.38 $0.34
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.50M $9.300M
YoY Change 299.31% 57.63%
Cash & Equivalents $57.53M $9.337M
Short-Term Investments
Other Short-Term Assets $33.56M $32.90M
YoY Change -3.47% 11.53%
Inventory $601.5M $627.2M
Prepaid Expenses
Receivables $632.0M $724.0M
Other Receivables $71.23M $62.10M
Total Short-Term Assets $1.396B $1.456B
YoY Change 14.79% 9.36%
LONG-TERM ASSETS
Property, Plant & Equipment $639.3M $641.1M
YoY Change -2.56% -4.27%
Goodwill $740.4M
YoY Change 0.0%
Intangibles $132.6M
YoY Change -16.82%
Long-Term Investments
YoY Change
Other Assets $17.60M $116.9M
YoY Change -4.05% -18.42%
Total Long-Term Assets $1.610B $1.637B
YoY Change -4.94% -4.87%
TOTAL ASSETS
Total Short-Term Assets $1.396B $1.456B
Total Long-Term Assets $1.610B $1.637B
Total Assets $3.006B $3.093B
YoY Change 3.31% 1.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $514.3M $505.8M
YoY Change 25.51% 13.26%
Accrued Expenses $271.6M $251.5M
YoY Change -7.34% -1.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $12.40M
YoY Change -100.0% -69.53%
Long-Term Debt Due $12.50M $12.20M
YoY Change -22.84% -35.79%
Total Short-Term Liabilities $798.4M $781.9M
YoY Change 5.78% 2.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.772B $1.839B
YoY Change -0.78% -4.45%
Other Long-Term Liabilities $59.62M $60.00M
YoY Change -0.2% -10.04%
Total Long-Term Liabilities $59.62M $1.899B
YoY Change -0.2% -4.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $798.4M $781.9M
Total Long-Term Liabilities $59.62M $1.899B
Total Liabilities $2.630B $2.681B
YoY Change 1.14% -2.58%
SHAREHOLDERS EQUITY
Retained Earnings -$171.7M
YoY Change -21.73%
Common Stock $547.9M
YoY Change 3.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $376.2M $412.0M
YoY Change
Total Liabilities & Shareholders Equity $3.006B $3.093B
YoY Change 3.31% 1.33%

Cashflow Statement

Concept 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$42.70M $39.75M
YoY Change -766.06% -68.32%
Depreciation, Depletion And Amortization $22.20M $23.03M
YoY Change -3.06% -9.87%
Cash From Operating Activities $186.1M $68.70M
YoY Change 14.95% 136.08%
INVESTING ACTIVITIES
Capital Expenditures -$14.30M -$23.50M
YoY Change 66.28% 106.14%
Acquisitions
YoY Change
Other Investing Activities -$1.800M $2.800M
YoY Change -132.73% 55.56%
Cash From Investing Activities -$16.10M -$20.70M
YoY Change 436.67% 115.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -121.7M -45.70M
YoY Change -19.03% 129.65%
NET CHANGE
Cash From Operating Activities 186.1M 68.70M
Cash From Investing Activities -16.10M -20.70M
Cash From Financing Activities -121.7M -45.70M
Net Change In Cash 48.30M 2.300M
YoY Change 461.63% -675.0%
FREE CASH FLOW
Cash From Operating Activities $186.1M $68.70M
Capital Expenditures -$14.30M -$23.50M
Free Cash Flow $200.4M $92.20M
YoY Change 17.54% 127.65%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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RevenueFromContractWithCustomerExcludingAssessedTax
5908791000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2394000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4855000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
44184000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-23087000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
34446000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2017Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
71232000
CY2017Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
5273000
CY2017Q4 us-gaap Goodwill
Goodwill
740411000
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
132567000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
75105000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
17597000
CY2017Q4 us-gaap Assets
Assets
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CY2018Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
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CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
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CY2018Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1826962000
CY2017Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1771945000
us-gaap Profit Loss
ProfitLoss
153170000
us-gaap Profit Loss
ProfitLoss
81482000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
72691000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
70796000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3479000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5163000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1243000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1189000000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
11173000
us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
3818000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2799000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9532000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7598000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-76803000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-43258000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2476000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45744000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9337000
bldr Non Cash Extinguishment Of Lease Finance Obligations
NonCashExtinguishmentOfLeaseFinanceObligations
700000
bldr Non Cash Extinguishment Of Lease Finance Obligations
NonCashExtinguishmentOfLeaseFinanceObligations
12900000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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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
CY2018Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2017Q4 us-gaap Contract With Customer Liability
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2942000
CY2018Q3 us-gaap Debt Instrument Carrying Amount
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CY2017Q4 us-gaap Debt Instrument Carrying Amount
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CY2017Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2018Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
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CY2017Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
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us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.026
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.063
CY2017Q3 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.145
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.039
us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.069
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
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CY2017Q3 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
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us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.009
us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
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CY2018Q3 bldr Number Of Geographic Regions In Which Entity Operates
NumberOfGeographicRegionsInWhichEntityOperates
9
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
9
CY2018Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25104000
CY2017Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23031000

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