Beacon Roofing Supply (BECN) 10-Q 8 May 15 2015 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Mar. 31, 2015	1-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Entity Registrant Name	BEACON ROOFING SUPPLY INC
Entity Central Index Key	1124941
Current Fiscal Year End Date	-21
Entity Filer Category	Large Accelerated Filer
Trading Symbol	BECN
Entity Common Stock, Shares Outstanding		49,623,825

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$22,956	$54,472	$34,041
Accounts receivable, less allowance of $8,929, $8,510 and $9,907 at March 31, 2015, September 30, 2014 and March 31, 2014, respectively	248,154	360,802	230,379
Inventories, net	361,317	301,626	421,756
Prepaid expenses and other current assets	73,490	66,828	105,401
Deferred income taxes	14,789	14,610	14,226
Total current assets	720,706	798,338	805,803
Property and equipment, net	85,054	88,565	70,759
Goodwill	488,324	466,206	466,658
Intangible assets, net	91,650	72,266	79,207
Other assets, net	4,771	8,521	9,120
TOTAL ASSETS	1,390,505	1,433,896	1,431,547
Current liabilities:
Accounts payable	202,713	220,834	308,209
Accrued expenses	80,546	80,285	72,445
Borrowings under revolver lines of credit	3,948	18,514	0
Current portion of long-term obligations	16,612	16,602	15,346
Total current liabilities	303,819	336,235	396,000
Senior notes payable, net of current portion	180,000	185,625	191,250
Deferred income taxes	63,426	64,100	60,350
Long-term obligations under equipment financing and other, net of current portion	24,779	30,835	20,591
Total liabilities	572,024	616,795	668,191
Commitments and contingencies
Stockholders' equity:
Common stock (voting); $.01 par value; 100,000,000 shares authorized; 49,607,351 issued and outstanding at March 31, 2015; 49,392,774 issued and outstanding at September 30, 2014; and 49,300,779 issued and outstanding at March 31, 2014	495	493	492
Undesignated preferred stock; 5,000,000 shares authorized, none issued or outstanding	0	0	0
Additional paid-in capital	335,972	328,059	324,504
Retained earnings	498,249	495,128	444,122
Accumulated other comprehensive loss	-16,235	-6,579	-5,762
Total stockholders’ equity	818,481	817,101	763,356
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$1,390,505	$1,433,896	$1,431,547

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowances	$8,929	$8,510	$9,907
Common stock (voting), par value	$0.01	$0.01	$0.01
Common stock (voting), shares authorized	100,000,000	100,000,000	100,000,000
Common stock (voting), issued	49,607,351	49,392,774	49,300,779
Common Stock (voting), outstanding	49,607,351	49,392,774	49,300,779
Undesignated Preferred Stock, shares authorized	5,000,000	5,000,000	5,000,000
Undesignated Preferred Stock, issued	0	0	0
Undesignated Preferred Stock, outstanding	0	0	0

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net sales	$413,184	$384,885	$1,009,226	$937,014
Cost of products sold	316,411	298,093	774,888	723,317
Gross profit	96,773	86,792	234,338	213,697
Operating expenses	110,979	104,004	224,724	203,822
Income (loss) from operations	-14,206	-17,212	9,614	9,875
Interest expense, financing costs and other	2,522	2,532	5,177	5,197
Income (loss) before provision for income taxes	-16,728	-19,744	4,437	4,678
Provision (benefit) for income taxes	-6,942	-7,627	1,316	1,838
Net income (loss)	($9,786)	($12,117)	$3,121	$2,840
Net income (loss) per share:
Basic	($0.20)	($0.25)	$0.06	$0.06
Diluted	($0.20)	($0.25)	$0.06	$0.06
Weighted average shares used in computing net income (loss) per share:
Basic	49,513,141	49,260,044	49,470,528	49,120,893
Diluted	49,513,141	49,260,044	50,029,935	49,956,072

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Net income (loss)	($9,786)	($12,117)	$3,121	$2,840
Other comprehensive income (loss):
Foreign currency translation adjustment	-6,169	-3,454	-9,358	-5,928
Unrealized gain (loss) due to change in fair value of derivatives, net of tax	-263	226	-298	542
Total other comprehensive income (loss), net of tax	-6,432	-3,228	-9,656	-5,386
Comprehensive income (loss)	($16,218)	($15,345)	($6,535)	($2,546)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net income	$3,121	$2,840
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,430	15,281
Stock-based compensation	4,744	5,489
Certain interest expense and other financing costs	543	545
Gain on sale of fixed assets	-273	-480
Deferred income taxes	287	-1,418
Other, net	181	-3
Changes in assets and liabilities, net of the effects of businesses acquired:
Accounts receivable	118,564	97,706
Inventories	-50,305	-171,748
Prepaid expenses and other assets	-5,007	-43,252
Accounts payable and accrued expenses	-25,800	131,113
Net cash provided by operating activities	62,485	36,073
Investing activities
Purchases of property and equipment	-5,384	-11,773
Acquisition of businesses	-69,745	0
Proceeds from sales of assets	367	394
Net cash used in investing activities	-74,762	-11,379
Financing activities
Repayments under revolving lines of credit, net of borrowings	-13,632	-47,398
Borrowings under equipment financing facilities and other	0	10,971
Repayments under equipment financing facilities and other	-2,758	-2,441
Repayments under senior term loan	-5,625	-5,625
Proceeds from exercise of options	3,171	6,057
Excess tax benefit from stock-based compensation	262	876
Net cash used in financing activities	-18,582	-37,560
Effect of exchange rate changes on cash	-657	-120
Net decrease in cash and cash equivalents	-31,516	-12,986
Cash and cash equivalents, beginning of year	54,472	47,027
Cash and cash equivalents, end of period	22,956	34,041
Cash paid during the year for:
Interest	4,660	4,276
Income taxes, net of refunds	$21,112	$18,715

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Basis of Presentation	1	Basis of Presentation
	Beacon Roofing Supply, Inc. (the “Company”) prepared the condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the requirements of the Securities and Exchange Commission (SEC). As permitted under those rules, certain footnotes or other financial information have been condensed or omitted. The balance sheet as of March 31, 2014 has been presented for a better understanding of the impact of seasonal fluctuations on the Company's financial condition.
	In management's opinion, the financial statements include all normal and recurring adjustments that are considered necessary for the fair presentation of the Company's financial position and operating results. The results for the three-month period (second quarter) ended March 31, 2015 are not necessarily indicative of the results to be expected for the twelve months ending September 30, 2015 (fiscal year 2015 or “2015”).
	The Company’s inventories are primarily comprised of finished goods valued at the lower of cost or market (net realizable value). Cost is determined using the moving weighted-average cost method.
	The six-month periods ended March 31, 2015 and March 31, 2014 each had 125 business days, while the three-month periods ended March 31, 2015 and March 31, 2014 each had 63 business days.
	These interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and Notes thereto contained in the Company’s fiscal year 2014 (“2014”) Annual Report on Form 10-K for the year ended September 30, 2014, collectively referred to as the “2014 Annual Report.”

Net_Income_Per_Share

Net Income Per Share	6 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Income per Share	2	Net Income per Share
	Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options and vesting of restricted stock awards.
	The following table presents the basic and diluted weighted average shares outstanding for each period presented:
			Three Months Ended March 31,		Six Months Ended March 31,
			2015	2014	2015	2014
	Weighted average common shares outstanding		49,513,141	49,260,044	49,470,528	49,120,893
	Effect of dilutive securities:
	Stock option awards		—	—	469,698	659,233
	Restricted stock awards		—	—	89,709	175,946
	Shares for diluted earnings per share		49,513,141	49,260,044	50,029,935	49,956,072
	The following table includes the number of shares that may be dilutive common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met.
			Three Months Ended March 31,		Six Months Ended March 31,
			2015	2014	2015	2014
	Stock options awards		1,838,400	1,141,465	1,370,873	951,739
	Restricted stock awards		78,533	175,261	123,332	24,000

Comprehensive_Income_and_Capit

Comprehensive Income and Capital Structure	6 Months Ended
	Mar. 31, 2015
Comprehensive Income And Capital Structure [Abstract]
Comprehensive Income And Capital Structure	3	Comprehensive Income and Capital Structure
	The following table presents the activity included in stockholders’ equity during the six months ended March 31, 2015:
									Accumulated
			Common		Additional Paid-		Retained		Other		Total
			Stock		In Capital		Earnings		Comprehensive		Stockholders’
									Income (Loss)		Equity
	Balance at September 30, 2014		$	493	$	328,059	$	495,128	$	-6,579	$	817,101
	Issuance of common stock			2		3,169		—		—		3,171
	Stock-based compensation			—		4,744		—		—		4,744
	Net income			—		—		3,121		—		3,121
	Other comprehensive loss			—		—		—		-9,656		-9,656
	Balance at March 31, 2015		$	495	$	335,972	$	498,249	$	-16,235	$	818,481
	Accumulated other comprehensive income (loss) consists of adjustments related to the translation of foreign currencies and fair value adjustments associated with cash flow hedges. The following table presents the changes in accumulated other comprehensive income (loss), by component, during the six months ended March 31, 2015:
							Accumulated
			Foreign		Derivative		Other
			Currency		Financial		Comprehensive
			Translation		Instruments		Income (Loss)
	Balance at September 30, 2014		$	-5,290	$	-1,289	$	-6,579
	Other comprehensive income (loss) recognized in accumulated			-9,358		-298		-9,656
	other comprehensive income (loss)
	Balance at March 31, 2015		$	-14,648	$	-1,587	$	-16,235
	There were no reclassifications out of accumulated other comprehensive income (loss) during the six months ended March 31, 2015.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Mar. 31, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Stock-based compensation	4	Stock-Based Compensation
	On February 12, 2014, the shareholders of the Company approved the Beacon Roofing Supply, Inc. 2014 Stock Plan (the “2014 Plan”). The 2014 Plan provides for discretionary awards of stock options, stock, stock units and stock appreciation rights (“SARs”) for up to 5,100,000 shares of common stock to selected employees and non-employee directors. As of March 31, 2015, there were 3,417,989 shares of common stock available for awards under the 2014 Plan, subject to increase for shares that are forfeited or expire, or are used for tax withholding on stock awards and stock unit awards under the 2004 Plan (defined below) and the 2014 Plan.
	In addition to the 2014 Plan, the Company also maintains the amended and restated Beacon Roofing Supply, Inc. 2004 Stock Plan (the “2004 Plan”). Upon shareholder approval of the 2014 Plan, the Company ceased issuing equity awards from the pre-existing 2004 Plan and all future equity awards will be issued from the 2014 Plan.
	The Company recognizes the cost of employee services rendered in exchange for awards of equity instruments based on the fair value of those awards at the date of the grant. Compensation expense for time-based equity awards is recognized, on a straight-line basis, net of forfeitures, over the requisite service period for the fair value of the awards that actually vest. Compensation expense for performance-based equity awards is recognized, net of forfeitures, by projecting the number of restricted units that are expected to vest based on the achievement of the underlying related performance measures.
	For all equity awards granted prior to October 1, 2014, in the event of a change in control of the Company, all awards are immediately vested. Beginning in fiscal 2015, equity awards contain a “double trigger” change in control mechanism. Unless an award is continued or assumed by a public company in an equitable manner, an award shall become fully vested immediately prior to a change in control (at 100% in the case of a performance-based restricted stock award). If an award is so continued or assumed, vesting will continue in accordance with the terms of the award, unless there is a qualifying termination within one-year following the change in control, in which event the award shall become fully vested immediately (at 100% in the case of a performance-based restricted stock award).
	Stock options
	Non-qualified options generally expire 10 years after the grant date and, except under certain conditions, the options are subject to continued employment and vest in one-third increments over a three-year period following the grant dates. During the six months ended March 31, 2015 and 2014, the Company recorded stock-based compensation expense related to stock option awards of $3.2 million and $3.5 million, respectively. As of March 31, 2015, there was $8.5 million of total unrecognized compensation cost related to unvested stock options. That cost is expected to be recognized over a weighted-average period of 1.82 years.
	The following table illustrates the assumptions used in the Black-Scholes pricing model for options granted during the six months ended March 31, 2015:
			2015
	Risk-free interest rate		1.83	%
	Expected volatility		31.69	%
	Expected life (in years)		5.58
	Expected dividend yield		0	%
	Expected lives of the options granted are based primarily on historical activity, while expected volatilities are based on historical volatilities of the Company’s stock and consideration of public companies’ stock. Estimated forfeiture rates vary by grant and range up to 8.86% as of March 31, 2015.
	Information regarding the Company’s stock options is summarized below:
							Weighted-
					Weighted-		Average
					Average		Remaining	Aggregate
			Number of		Exercise		Contractual	Intrinsic
			Shares		Price		Life	Value
							(in years)	(in millions)
	Outstanding at September 30, 2014		2,364,211		$	22.98
	Granted		482,479		$	28.58
	Exercised		-167,355		$	17.43
	Canceled		-36,065		$	32.74
	Outstanding at March 31, 2015		2,643,270		$	24.24	6.6	$	20.7
	Vested or Expected to Vest at March 31, 2015		2,529,471		$	23.97	6.5	$	20.5
	Exercisable at March 31, 2015		1,734,556		$	20.63	5.4	$	19.2
	Restricted stock awards
	During the six months ended March 31, 2015 and 2014, the Company recorded stock-based compensation expense related to restricted stock awards of $1.5 million and $2.0 million, respectively. As of March 31, 2015, there was $8.1 million of total unrecognized compensation cost related to unvested restricted stock awards. That cost is expected to be recognized over a weighted-average period of 2.73 years.
	The total fair values of the restricted stock awards were determined based upon the number of shares or units and the closing prices of the Company’s common stock on the dates of the grants. The restricted stock awards granted to management are subject to continued employment, except under certain conditions, and will vest if the Company attains a targeted rate of return on invested capital at the end of a three-year period. The actual number of shares or units that will vest can range from 0% to 125% of the management grants depending upon actual Company performance below or above the target level and the Company estimates that performance in determining the projected number of shares or units that will vest and the related compensation cost. The restricted stock awards granted to non-employee directors are also subject to continued service, vest at the end of one year (except under certain conditions) and the underlying common shares will not be distributed until six months after the director separates from the Company. Beginning in 2014, the six month period was eliminated and shares will be delivered within ten days after termination of service on the board. In November 2014 and 2013, the Company also issued restricted stock awards that are subject to continued employment and will vest over three to five years.
	Information regarding the Company’s restricted shares and units is summarized below:
							Weighted-
					Weighted-		Average
					Average		Remaining	Aggregate
			Number of		Grant		Contractual	Intrinsic
			Shares		Price		Life	Value
							(in years)	(in millions)
	Outstanding at September 30, 2014		482,076		$	31.28
	Granted		174,358		$	27.94
	Lapse of restrictions/conversions		-67,953		$	19.88
	Canceled		-20,295		$	19.88
	Outstanding at March 31, 2015		568,186		$	32.03	2.5	$	17.8
	Vested or Expected to Vest at March 31, 2015		394,454		$	31.46	3.1	$	12.3

Acquisitions

Acquisitions	6 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Acquisitions	5	Acquisitions
	In October 2014, the Company acquired six branches from the following two acquisitions:
		·	On October 1, 2014, the Company purchased certain assets of Applicators Sales & Service (“Applicators”), a distributor of residential roofing, siding, windows and related accessories with four locations in Maine and one location in New Hampshire and annual sales of approximately $48 million.
		·	On October 15, 2014, the Company purchased certain assets of Wholesale Roofing Supply (“WRS”), a distributor of residential roofing products with a nine-acre facility located in Grand Prairie, Texas and annual sales of approximately $34 million.
	The Company preliminarily recorded the acquired assets and liabilities at their estimated fair values at the acquisition date, with resulting goodwill of $24.2 million (which is not deductible for tax purposes) and $28.8 million in intangible assets associated with these acquisitions.

Financing_Arrangements

Financing Arrangements	6 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Financing Arrangements	6	Financing Arrangements
	Financing arrangements consisted of the following:
			March 31,		September 30,		March 31,
			2015		2014		2014
	Senior Secured Credit Facility
	Revolving Lines of Credit:
	Canadian revolver-expires March 31, 2017 (3.60% at March 31, 2015 and 4.00% at September 30, 2014)		$	3,948	$	10,714	$	—
	U.S. Revolver-expires March 31, 2017 (4.25% at September 30, 2014)			—		7,800		—
	Term Loan:
	Term Loan-matures March 31, 2017 (1.93% at March 31, 2015, 2.15% on September 30, 2014 and 1.90% at March 31, 2014)			191,250		196,875		202,500
	Total borrowings under Senior Secured Credit Facility			195,198		215,389		202,500
	Less: current portion			-15,198		-29,764		-11,250
	Total long-term portion of borrowings under Senior Secured Credit Facility		$	180,000	$	185,625	$	191,250
	Equipment Financing Facilities
	Borrowings under various equipment financing facilities-various maturities from November 2015 through December 2020 (various fixed interest rates ranging from 2.33% to 4.49% at March 31, 2015; 2.33% to 4.60% at September 30, 2014; and 2.33% to 6.75% at March 31, 2014)		$	28,283	$	30,966	$	19,122
	Less: current portion			-5,362		-5,352		-4,096
	Total long-term portion of borrowings under equipment financing facilities		$	22,921	$	25,614	$	15,026

Financial_Instruments

Financial Instruments	6 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	7	Financial Instruments
	Financial Derivatives
	The Company uses derivative financial instruments to manage its exposure related to fluctuating cash flows from changes in interest rates. Use of derivative financial instruments in hedging programs subjects the Company to certain risks, such as market and credit risks. Market risk represents the possibility that the value of the derivative instrument will change. In a hedging relationship, the change in the value of the derivative is offset to a great extent by the change in the value of the underlying hedged item. Credit risk related to derivatives represents the possibility that the counterparty will not fulfill the terms of the contract. The notional, or contractual, amount of the Company's derivative financial instruments is used to measure interest to be paid or received and does not represent the Company's exposure due to credit risk. The Company's current derivative instruments are with large financial counterparties rated highly by nationally recognized credit rating agencies.
	The Company uses interest rate derivative instruments to manage the risk related to fluctuating cash flows from interest rate changes by converting a portion of its variable-rate borrowings into fixed-rate borrowings. On March 28, 2013, we entered into an interest rate swap agreement with a notional amount of $213.8 million which expires on March 31, 2017. This agreement swaps the thirty-day LIBOR to a fixed-rate of 1.38%. The instrument has scheduled reductions of the notional amount equal to $2.8 million per quarter, effectively matching the repayment schedule under the Term Loan. As of March 31, 2015, the interest rate swap has a notional amount of $191.3 million.
	For derivative instruments designated as cash flow hedges, the Company records the effective portions of changes in their fair value, net of taxes, in other comprehensive income. The effectiveness of the hedges is periodically assessed by the Company during the lives of the hedges by 1) comparing the current terms of the hedges with the related hedged debt to assure they continue to coincide and 2) through an evaluation of the ability of the counterparties to the hedges to honor their obligations under the hedges. Any ineffective portions of the hedges are recognized in earnings through interest expense, financing costs and other.
	The Company records any differences paid or received on its interest rate hedges as adjustments to interest expense. The table below presents the combined fair values of the interest rate derivative instruments:
	Instrument		Balance Sheet		March 31,			September 30,			March 31,			Fair Value
			Location		2015			2014			2014			Hierarchy
	Designated interest rate swaps		Accrued expenses		$	2,623		$	2,124		$	2,835		Level 2
	(effective)
					$	2,623		$	2,124		$	2,835
	The fair values of the interest rate hedges were determined through the use of pricing models, which utilize verifiable inputs such as market interest rates that are observable at commonly quoted intervals (generally referred to as the “LIBOR Curve”) for the full terms of the hedge agreements. These values reflect a Level 2 measurement under the applicable fair value hierarchy.
	The table below presents the amounts of gain (loss) on the interest rate derivative instruments recognized in other comprehensive income (OCI):
			Three Months Ended March 31,						Six Months Ended March 31,
			2015			2014			2015			2014
	Amount of gain (loss) recognized in OCI (net of tax)
	Designated interest rate swaps		$	-263		$	226		$	-298		$	542
	During the three and six months ended March 31, 2015 and 2014, there were no amounts related to non-designated interest rate derivative instruments which were recognized in interest expense, financing costs and other.
	Cash and cash equivalents
	The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Cash and cash equivalents also include unsettled credit card transactions. Cash equivalents have been comprised of money market funds, which invest primarily in commercial paper or bonds with a rating of A-1 or better, and bank certificates of deposit. The carrying values of the cash equivalents for the periods presented equaled the fair values, which were determined under Level 1 of the Fair Value Hierarchy.

Foreign_Net_Revenue

Foreign Net Revenue	6 Months Ended
	Mar. 31, 2015
Revenue and Total Property From External Customers Attributed To Foreign Countries By Geographic Area Disclosure [Abstract]
Foreign Net Revenue	8	Foreign Net Revenue
	Foreign (Canadian) net revenue totaled $20.5 million and $18.3 million during the three months ended March 31, 2015 and 2014, respectively, and $66.1 million and $60.0 million during the six months ended March 31, 2015 and 2014, respectively.

Net_Income_Per_Share_Tables

Net Income Per Share (Tables)	6 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Calculation of Weighted-Average Shares Outstanding	The following table presents the basic and diluted weighted average shares outstanding for each period presented:
		Three Months Ended March 31,		Six Months Ended March 31,
		2015	2014	2015	2014
	Weighted average common shares outstanding	49,513,141	49,260,044	49,470,528	49,120,893
	Effect of dilutive securities:
	Stock option awards	—	—	469,698	659,233
	Restricted stock awards	—	—	89,709	175,946
	Shares for diluted earnings per share	49,513,141	49,260,044	50,029,935	49,956,072
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table includes the number of shares that may be dilutive common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met.
		Three Months Ended March 31,		Six Months Ended March 31,
		2015	2014	2015	2014
	Stock options awards	1,838,400	1,141,465	1,370,873	951,739
	Restricted stock awards	78,533	175,261	123,332	24,000

Comprehensive_Income_and_Capit1

Comprehensive Income and Capital Structure (Tables)	6 Months Ended
	Mar. 31, 2015
Comprehensive Income And Capital Structure [Abstract]
Schedule of Stockholders Equity	The following table presents the activity included in stockholders’ equity during the six months ended March 31, 2015:
								Accumulated
		Common		Additional Paid-		Retained		Other		Total
		Stock		In Capital		Earnings		Comprehensive		Stockholders’
								Income (Loss)		Equity
	Balance at September 30, 2014	$	493	$	328,059	$	495,128	$	-6,579	$	817,101
	Issuance of common stock		2		3,169		—		—		3,171
	Stock-based compensation		—		4,744		—		—		4,744
	Net income		—		—		3,121		—		3,121
	Other comprehensive loss		—		—		—		-9,656		-9,656
	Balance at March 31, 2015	$	495	$	335,972	$	498,249	$	-16,235	$	818,481
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the changes in accumulated other comprehensive income (loss), by component, during the six months ended March 31, 2015:
						Accumulated
		Foreign		Derivative		Other
		Currency		Financial		Comprehensive
		Translation		Instruments		Income (Loss)
	Balance at September 30, 2014	$	-5,290	$	-1,289	$	-6,579
	Other comprehensive income (loss) recognized in accumulated		-9,358		-298		-9,656
	other comprehensive income (loss)
	Balance at March 31, 2015	$	-14,648	$	-1,587	$	-16,235

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	6 Months Ended
	Mar. 31, 2015
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Fair Values of Options, Black-Scholes Option-Pricing Model, Weighted-Average Assumptions	The following table illustrates the assumptions used in the Black-Scholes pricing model for options granted during the six months ended March 31, 2015:
		2015
	Risk-free interest rate	1.83	%
	Expected volatility	31.69	%
	Expected life (in years)	5.58
	Expected dividend yield	0	%
Stock Options Outstanding and Activity During the Period	Information regarding the Company’s stock options is summarized below:
						Weighted-
				Weighted-		Average
				Average		Remaining	Aggregate
		Number of		Exercise		Contractual	Intrinsic
		Shares		Price		Life	Value
						(in years)	(in millions)
	Outstanding at September 30, 2014	2,364,211		$	22.98
	Granted	482,479		$	28.58
	Exercised	-167,355		$	17.43
	Canceled	-36,065		$	32.74
	Outstanding at March 31, 2015	2,643,270		$	24.24	6.6	$	20.7
	Vested or Expected to Vest at March 31, 2015	2,529,471		$	23.97	6.5	$	20.5
	Exercisable at March 31, 2015	1,734,556		$	20.63	5.4	$	19.2
Restricted Shares and Units Outstanding and Activity During the Period	Information regarding the Company’s restricted shares and units is summarized below:
						Weighted-
				Weighted-		Average
				Average		Remaining	Aggregate
		Number of		Grant		Contractual	Intrinsic
		Shares		Price		Life	Value
						(in years)	(in millions)
	Outstanding at September 30, 2014	482,076		$	31.28
	Granted	174,358		$	27.94
	Lapse of restrictions/conversions	-67,953		$	19.88
	Canceled	-20,295		$	19.88
	Outstanding at March 31, 2015	568,186		$	32.03	2.5	$	17.8
	Vested or Expected to Vest at March 31, 2015	394,454		$	31.46	3.1	$	12.3

Financing_Arrangements_Tables

Financing Arrangements (Tables)	6 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Financing arrangements consisted of the following:
		March 31,		September 30,		March 31,
		2015		2014		2014
	Senior Secured Credit Facility
	Revolving Lines of Credit:
	Canadian revolver-expires March 31, 2017 (3.60% at March 31, 2015 and 4.00% at September 30, 2014)	$	3,948	$	10,714	$	—
	U.S. Revolver-expires March 31, 2017 (4.25% at September 30, 2014)		—		7,800		—
	Term Loan:
	Term Loan-matures March 31, 2017 (1.93% at March 31, 2015, 2.15% on September 30, 2014 and 1.90% at March 31, 2014)		191,250		196,875		202,500
	Total borrowings under Senior Secured Credit Facility		195,198		215,389		202,500
	Less: current portion		-15,198		-29,764		-11,250
	Total long-term portion of borrowings under Senior Secured Credit Facility	$	180,000	$	185,625	$	191,250
	Equipment Financing Facilities
	Borrowings under various equipment financing facilities-various maturities from November 2015 through December 2020 (various fixed interest rates ranging from 2.33% to 4.49% at March 31, 2015; 2.33% to 4.60% at September 30, 2014; and 2.33% to 6.75% at March 31, 2014)	$	28,283	$	30,966	$	19,122
	Less: current portion		-5,362		-5,352		-4,096
	Total long-term portion of borrowings under equipment financing facilities	$	22,921	$	25,614	$	15,026

Financial_Instruments_Tables

Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Interest Rate Derivative Instruments	The table below presents the combined fair values of the interest rate derivative instruments:
	Instrument	Balance Sheet		March 31,			September 30,			March 31,			Fair Value
		Location		2015			2014			2014			Hierarchy
	Designated interest rate swaps	Accrued expenses		$	2,623		$	2,124		$	2,835		Level 2
	(effective)
				$	2,623		$	2,124		$	2,835
Schedule of Interest Rate Derivatives	The table below presents the amounts of gain (loss) on the interest rate derivative instruments recognized in other comprehensive income (OCI):
		Three Months Ended March 31,						Six Months Ended March 31,
		2015			2014			2015			2014
	Amount of gain (loss) recognized in OCI (net of tax)
	Designated interest rate swaps	$	-263		$	226		$	-298		$	542

Net_Income_Per_Share_Details

Net Income Per Share (Details)	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Weighted average common shares outstanding	49,513,141	49,260,044	49,470,528	49,120,893
Effect of dilutive securities:
Shares for diluted earnings per share	49,513,141	49,260,044	50,029,935	49,956,072
Stock Options Awards
Effect of dilutive securities:
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0	469,698	659,233
Restricted Stock Awards
Effect of dilutive securities:
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0	89,709	175,946

Net_Income_Per_Share_Details_1

Net Income Per Share (Details 1)	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Stock Options Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,838,400	1,141,465	1,370,873	951,739
Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	78,533	175,261	123,332	24,000

Comprehensive_Income_and_Capit2

Comprehensive Income and Capital Structure (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Stockholders Equity, Opening Balance			$817,101
Issuance of common stock			3,171
Stock-based compensation			4,744	5,489
Net income	-9,786	-12,117	3,121	2,840
Other comprehensive loss			-9,656
Stockholders Equity, Ending Balance	818,481	763,356	818,481	763,356
Common Stock
Stockholders Equity, Opening Balance			493
Issuance of common stock			2
Stock-based compensation			0
Net income			0
Other comprehensive loss			0
Stockholders Equity, Ending Balance	495		495
Additional Paid-in Capital
Stockholders Equity, Opening Balance			328,059
Issuance of common stock			3,169
Stock-based compensation			4,744
Net income			0
Other comprehensive loss			0
Stockholders Equity, Ending Balance	335,972		335,972
Retained Earnings
Stockholders Equity, Opening Balance			495,128
Issuance of common stock			0
Stock-based compensation			0
Net income			3,121
Other comprehensive loss			0
Stockholders Equity, Ending Balance	498,249		498,249
Accumulated Other Comprehensive Income (Loss)
Stockholders Equity, Opening Balance			-6,579
Issuance of common stock			0
Stock-based compensation			0
Net income			0
Other comprehensive loss			-9,656
Stockholders Equity, Ending Balance	($16,235)		($16,235)

Comprehensive_Income_and_Capit3

Comprehensive Income and Capital Structure (Details 1) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Foreign Currency Translation [Abstract]
Balance at September 30, 2014	($5,290)
Other comprehensive income (loss) recognized in accumulated other comprehensive income (loss)	-9,358
Balance at March 31, 2015	-14,648
Derivative Financial Instruments [Abstract]
Balance at September 30, 2014	-1,289
Other comprehensive income (loss) recognized in accumulated other comprehensive income (loss)	-298
Balance at March 31, 2015	-1,587
Accumulated Other Comprehensive Income (Loss) [Abstract]
Balance at September 30, 2014	-6,579	-5,762
Other comprehensive income (loss) recognized in accumulated other comprehensive income (loss)	-9,656
Balance at March 31, 2015	($16,235)	($5,762)

StockBased_Compensation_Detail

Stock-Based Compensation (Details)	6 Months Ended
	Mar. 31, 2015
Risk-free interest rate	1.83%
Expected volatility	31.69%
Expected life (in years)	5 years 6 months 29 days
Expected dividend yield	0.00%

StockBased_Compensation_Detail1

Stock-Based Compensation (Details 1) (USD $)	6 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Number of Shares
Outstanding at September 30, 2014	2,364,211
Granted	482,479
Exercised	-167,355
Canceled	-36,065
Outstanding at March 31, 2015	2,643,270
Vested or Expected to Vest at March 31, 2015	2,529,471
Exercisable at March 31, 2015	1,734,556
Weighted-Average Exercise Price
Outstanding at September 30, 2014	$22.98
Granted	$28.58
Exercised	$17.43
Canceled	$32.74
Outstanding at March 31, 2015	$24.24
Vested or Expected to Vest at March 31, 2015	$23.97
Exercisable at March 31, 2015	$20.63
Weighted-Average Remaining Contractual Life
Outstanding at March 31, 2015	6 years 7 months 6 days
Vested or Expected to Vest at March 31, 2015	6 years 6 months
Exercisable at March 31, 2015	5 years 4 months 24 days
Average Intrinsic Value
Outstanding at March 31, 2015	$20.70
Vested or Expected to Vest at March 31, 2015	20.5
Exercisable at March 31, 2015	$19.20

StockBased_Compensation_Detail2

Stock-Based Compensation (Details 2) (USD $)	6 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015
Number of Shares/Units
Outstanding at September 30, 2014	482,076
Granted	174,358
Lapse of restrictions/conversions	-67,953
Canceled	-20,295
Outstanding at March 31, 2015	568,186
Vested or Expected to Vest at March 31, 2015	394,454
Weighted - Average Grant Price
Outstanding at September 30, 2014	$31.28
Granted	$27.94
Lapse of restrictions/conversions	$19.88
Canceled	$19.88
Outstanding at March 31, 2015	$32.03
Vested or Expected to Vest at March 31, 2015	$31.46
Weighted - Average Remaining Contractual Life
Outstanding at March 31, 2015	2 years 6 months
Vested or Expected to Vest at March 31, 2015	3 years 1 month 6 days
Aggregate Intrinsic Value
Outstanding at March 31, 2015	$17.80
Vested or Expected to Vest at March 31, 2015	$12.30

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Details) (USD $)	6 Months Ended		1 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Nov. 30, 2014	Nov. 30, 2013	Feb. 12, 2014
2014 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation number of shares authorized					5,100,000
Stock-based compensation number of shares available for awards	3,417,989
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested stock	$8.10
Total unrecognized compensation cost related to unvested stock, expected weighted-average period of recognition	2 years 8 months 23 days
Percentage of shares that will vest	100.00%
Allocated Share-based Compensation Expense	1.5	2
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares that will vest	125.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years	5 years
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares that will vest	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years	3 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested stock	8.5
Total unrecognized compensation cost related to unvested stock, expected weighted-average period of recognition	1 year 9 months 25 days
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumption Expected Forfeitures	8.86%
Allocated Share-based Compensation Expense	$3.20	$3.50
Non Qualified Options Expire	10 years

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	Oct. 02, 2014	Oct. 15, 2014	Mar. 31, 2015
Business Acquisition [Line Items]
Business Acquisitions Purchase Price Allocation Goodwill Amount			$24.20
Business Acquisitions Purchase Price Allocation Intangible Assets Other Than Goodwill			28.8
Applicators Sales Service [Member]
Business Acquisition [Line Items]
Business Acquisition, sales reported by acquired entity for last annual period	48
Wholesale Roofing Supply [Member]
Business Acquisition [Line Items]
Business Acquisition, sales reported by acquired entity for last annual period		$34

Financing_Arrangements_Details

Financing Arrangements (Details) (USD $)	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Total borrowings under Senior Secured Credit Facility	$195,198	$215,389	$202,500
Less: current portion	-15,198	-29,764	-11,250
Total long-term portion of borrowings under Senior Secured Credit Facility	180,000	185,625	191,250
Less: current portion	-16,612	-16,602	-15,346
Canadian Revolver
Total borrowings under Senior Secured Credit Facility	3,948	10,714	0
US Revolver
Total borrowings under Senior Secured Credit Facility	0	7,800	0
Term Loan
Total borrowings under Senior Secured Credit Facility	191,250	196,875	202,500
Equipment Financing Facilities
Total borrowings under Equipment Financing Facilities	28,283	30,966	19,122
Less: current portion	-5,362	-5,352	-4,096
Total long-term portion of borrowings under equipment financing facilities	$22,921	$25,614	$15,026

Financing_Arrangements_Details1

Financing Arrangements (Details) (Parenthetical)	6 Months Ended
	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014
Canadian Revolver
Line of Credit Facility, Interest Rate at Period End	3.60%	4.00%
Line of Credit Facility, Expiration Date	31-Mar-17
US Revolver
Line of Credit Facility, Interest Rate at Period End		4.25%
Line of Credit Facility, Expiration Date	31-Mar-17
Term Loan
Line of Credit Facility, Interest Rate at Period End	1.93%	2.15%	1.90%
Line of Credit Facility, Expiration Date	31-Mar-17
Equipment Financing Facilities | Maximum
Line of Credit Facility, Interest Rate at Period End	4.49%	4.60%	6.75%
Equipment Financing Facilities | Minimum
Line of Credit Facility, Interest Rate at Period End	2.33%	2.33%	2.33%

Financial_Instruments_Details

Financial Instruments (Details) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2014
Derivatives, Fair Value [Line Items]
Unrealized Losses	$2,623	$2,835	$2,124
Designated | Interest Rate Swap | Level 2 | Accrued Expenses
Derivatives, Fair Value [Line Items]
Unrealized Losses	$2,623	$2,835	$2,124

Financial_Instruments_Details_

Financial Instruments (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Amount of gain (loss) recognized in OCI (net of tax)	($263)	$226	($298)	$542
Designated interest rate swaps [Member] | Other Comprehensive Income (Loss) [Member]
Amount of gain (loss) recognized in OCI (net of tax)	($263)	$226	($298)	$542

Financial_Instruments_Addition

Financial Instruments - Additional Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 28, 2013
Derivative [Line Items]
Derivative Amortizes Amount	$2.80
Derivative, Notional Amount	$191.30	$213.80
Interest Rate Swap Fixed Rate Of 1.38 %
Derivative [Line Items]
Interest rate swap, interest rate	1.38%
Derivative Expiration Date	3/31/17
Derivative Amortization Frequency	quarter

Foreign_Net_Revenue_Additional

Foreign Net Revenue - Additional Information (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$413,184	$384,885	$1,009,226	$937,014
Canada
Segment Reporting Information [Line Items]
Net sales	$20,500	$18,300	$66,100	$60,000