2021 Q3 Form 10-Q Financial Statement

#000156459021054434 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $5.509B $2.295B $1.946B
YoY Change 139.98% 15.87% 2.16%
Cost Of Revenue $3.796B $1.725B $1.428B
YoY Change 120.09% 19.79% 2.95%
Gross Profit $1.712B $570.7M $517.3M
YoY Change 200.09% 5.45% 0.03%
Gross Profit Margin 31.09% 24.86% 26.59%
Selling, General & Admin $875.0M $430.9M $388.1M
YoY Change 103.07% 4.71% -3.34%
% of Gross Profit 51.1% 75.51% 75.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.70M $29.42M $28.48M
YoY Change 62.12% 20.68% 19.57%
% of Gross Profit 2.79% 5.16% 5.5%
Operating Expenses $875.0M $430.9M $388.1M
YoY Change 103.07% 4.71% -3.34%
Operating Profit $837.4M $139.8M $129.2M
YoY Change 499.24% 7.81% 11.74%
Interest Expense -$35.95M -$28.04M -$26.81M
YoY Change 28.21% 0.92% -8.75%
% of Operating Profit -4.29% -20.07% -20.75%
Other Income/Expense, Net
YoY Change
Pretax Income $801.5M $111.7M $102.4M
YoY Change 617.44% 9.69% 18.76%
Income Tax $188.3M $25.80M $23.50M
% Of Pretax Income 23.5% 23.09% 22.94%
Net Earnings $613.1M $85.93M $78.92M
YoY Change 613.52% 9.99% 18.5%
Net Earnings / Revenue 11.13% 3.74% 4.06%
Basic Earnings Per Share $3.00 $0.74 $0.68
Diluted Earnings Per Share $2.98 $0.73 $0.67
COMMON SHARES
Basic Shares Outstanding 204.3M 116.7M 116.6M
Diluted Shares Outstanding 205.6M 118.0M 117.5M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $224.7M $340.9M $385.5M
YoY Change -34.08% 687.3% 3536.79%
Cash & Equivalents $224.7M $340.9M $385.5M
Short-Term Investments
Other Short-Term Assets $88.37M $44.20M $36.10M
YoY Change 99.93% 27.73% -0.28%
Inventory $1.617B $751.1M $615.1M
Prepaid Expenses
Receivables $2.134B $860.8M $719.7M
Other Receivables $167.3M $64.70M $45.10M
Total Short-Term Assets $4.231B $2.062B $1.802B
YoY Change 105.23% 44.17% 25.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.337B $1.029B $1.030B
YoY Change 29.93% 47.8% 52.51%
Goodwill $2.495B $777.3M $777.3M
YoY Change 220.97% 2.98%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.99M $25.80M $29.40M
YoY Change 0.75% -9.47% -4.85%
Total Long-Term Assets $6.578B $1.953B $1.963B
YoY Change 236.78% 4.58% 8.1%
TOTAL ASSETS
Total Short-Term Assets $4.231B $2.062B $1.802B
Total Long-Term Assets $6.578B $1.953B $1.963B
Total Assets $10.81B $4.015B $3.765B
YoY Change 169.23% 21.74% 15.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.005B $651.3M $554.4M
YoY Change 54.23% 30.42% 7.25%
Accrued Expenses $780.7M $343.9M $305.0M
YoY Change 127.01% 13.99% 13.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.819M $29.50M $24.00M
YoY Change -87.05% 104.86% 88.98%
Total Short-Term Liabilities $2.033B $1.085B $933.1M
YoY Change 87.41% 25.61% 10.01%
LONG-TERM LIABILITIES
Long-Term Debt $2.420B $1.574B $1.578B
YoY Change 53.72% 16.56% 11.08%
Other Long-Term Liabilities $501.9M $310.7M $299.6M
YoY Change 61.53% 483.64% 10.47%
Total Long-Term Liabilities $2.922B $1.885B $1.878B
YoY Change 55.01% 3440.53% 10.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.033B $1.085B $933.1M
Total Long-Term Liabilities $2.922B $1.885B $1.878B
Total Liabilities $5.286B $3.007B $2.849B
YoY Change 75.77% 19.39% 11.9%
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 $5.523B $1.008B $915.9M
YoY Change
Total Liabilities & Shareholders Equity $10.81B $4.015B $3.765B
YoY Change 169.23% 21.75% 15.84%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $613.1M $85.93M $78.92M
YoY Change 613.52% 9.99% 18.5%
Depreciation, Depletion And Amortization $47.70M $29.42M $28.48M
YoY Change 62.12% 20.68% 19.57%
Cash From Operating Activities $1.107B -$14.80M $220.6M
YoY Change -7579.68% -108.15% 27.74%
INVESTING ACTIVITIES
Capital Expenditures -$61.89M -$28.70M -$26.30M
YoY Change 115.63% -11.69% 10.04%
Acquisitions
YoY Change
Other Investing Activities -$737.2M $1.800M $1.000M
YoY Change -41055.61% -105.44% -74.36%
Cash From Investing Activities -$799.1M -$26.80M -$25.40M
YoY Change 2881.67% -59.15% 27.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -173.4M -2.900M 26.40M
YoY Change 5880.59% -96.51% -117.15%
NET CHANGE
Cash From Operating Activities 1.107B -14.80M 220.6M
Cash From Investing Activities -799.1M -26.80M -25.40M
Cash From Financing Activities -173.4M -2.900M 26.40M
Net Change In Cash 134.5M -44.50M 221.6M
YoY Change -402.18% -235.67% -18566.67%
FREE CASH FLOW
Cash From Operating Activities $1.107B -$14.80M $220.6M
Capital Expenditures -$61.89M -$28.70M -$26.30M
Free Cash Flow $1.169B $13.90M $246.9M
YoY Change 8309.2% -93.5% 25.58%

Facts In Submission

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CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
397772000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
256655000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
136773000
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
92300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
261600000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
16700000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
96494000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
248732000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
217259000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
187624000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
165262000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
383356000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
176379000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
165731000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
58455000
CY2021Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
89854000
CY2020Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
46717000
CY2021Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
78422000
CY2020Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
12236000
CY2021Q3 bldr Accrued Rebates Payable Current
AccruedRebatesPayableCurrent
40961000
CY2020Q4 bldr Accrued Rebates Payable Current
AccruedRebatesPayableCurrent
18592000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2452689000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
29206000
CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
2423483000
CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
3819000
CY2021Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2419664000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4300000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
444073000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
274562000
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
4490000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
34905000
CY2021Q3 bldr Operating And Financing Lease Right Of Use Assets
OperatingAndFinancingLeaseRightOfUseAssets
448563000
CY2020Q4 bldr Operating And Financing Lease Right Of Use Assets
OperatingAndFinancingLeaseRightOfUseAssets
309467000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
94651000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
61625000
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1444000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
12178000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
360271000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
219239000
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2709000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
11695000
CY2021Q3 bldr Operating And Finance Lease Liabilities
OperatingAndFinanceLeaseLiabilities
459075000
CY2020Q4 bldr Operating And Finance Lease Liabilities
OperatingAndFinanceLeaseLiabilities
304737000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
33820000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
21300000
us-gaap Operating Lease Cost
OperatingLeaseCost
99292000
us-gaap Operating Lease Cost
OperatingLeaseCost
64293000
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
397000
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1548000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1787000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4704000
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
53000
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
382000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
318000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1041000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
6827000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
4613000
us-gaap Variable Lease Cost
VariableLeaseCost
20308000
us-gaap Variable Lease Cost
VariableLeaseCost
13275000
CY2021Q3 us-gaap Lease Cost
LeaseCost
41097000
CY2020Q3 us-gaap Lease Cost
LeaseCost
27843000
us-gaap Lease Cost
LeaseCost
121705000
us-gaap Lease Cost
LeaseCost
83313000
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
409000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
29490000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1570000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
112718000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1337000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
95739000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
480000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
78513000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
257000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
56062000
CY2021Q3 bldr Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
438000
CY2021Q3 bldr Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
167888000
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
4491000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
540410000
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
338000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
85488000
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
4153000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
454922000
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1444000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
94651000
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2709000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
360271000
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.063
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.059
us-gaap Operating Lease Payments
OperatingLeasePayments
90858000
us-gaap Operating Lease Payments
OperatingLeasePayments
62185000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
318000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1041000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
27565000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
9961000
CY2021Q3 us-gaap Guarantees Fair Value Disclosure
GuaranteesFairValueDisclosure
0
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Sale Leaseback Transaction Description
SaleLeasebackTransactionDescription
Company is party to 121 individual property lease agreements with a single lessor as of September 30, 2021. These lease agreements had initial terms ranging from nine to 15 years with renewal options in five-year increments providing for up to approximately 30-year total lease terms.
CY2021Q3 bldr Other Finance Obligations Number Of Leased Properties
OtherFinanceObligationsNumberOfLeasedProperties
121
bldr Lessee Leasing Arrangements Other Finance Obligations Maximum Term Of Contract
LesseeLeasingArrangementsOtherFinanceObligationsMaximumTermOfContract
P30Y
CY2021Q3 us-gaap Present Value Of Future Minimum Lease Payments Sale Leaseback Transactions
PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions
203500000
CY2021Q3 us-gaap Sale Leaseback Transaction Annual Rental Payments
SaleLeasebackTransactionAnnualRentalPayments
5200000
us-gaap Sale Leaseback Transaction Annual Rental Payments
SaleLeasebackTransactionAnnualRentalPayments
15900000
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.037
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.028
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.035
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.000
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.004
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.005
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.009
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.004
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.014
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.235
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.232
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.222
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
126400000
bldr Percentage Of Accounts Receivable Due From And Net Sales
PercentageOfAccountsReceivableDueFromAndNetSales
0.01

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