BlueLinx (BXC) 10-Q 2 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 02, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 2, 2021
Document Transition Report	false
Entity File Number	001-32383
Entity Registrant Name	BlueLinx Holdings Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0627356
Entity Address, Address Line One	1950 Spectrum Circle
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Marietta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30067
City Area Code	770
Local Phone Number	953-7000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BXC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,706,685
Entity Central Index Key	0001301787
Current Fiscal Year Date	--01-02
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Income Statement [Abstract]
Net sales	$ 970,842	$ 871,063	$ 3,304,224	$ 2,231,909
Cost of sales	817,515	711,603	2,719,333	1,878,420
Gross profit	153,327	159,460	584,891	353,489
Operating expenses (income):
Selling, general, and administrative	76,176	79,976	238,746	225,258
Depreciation and amortization	6,884	7,087	21,429	21,785
Amortization of deferred gains on real estate	(984)	(984)	(2,951)	(2,952)
Gains from sales of property	0	(8,684)	(1,287)	(9,209)
Other operating expenses	212	609	1,197	6,736
Total operating expenses	82,288	78,004	257,134	241,618
Operating income	71,039	81,456	327,757	111,871
Non-operating expenses (income):
Interest expense, net	8,313	10,776	33,690	36,691
Other income, net	(704)	(238)	(1,335)	(58)
Income before provision for income taxes	63,430	70,918	295,402	75,238
Provision for income taxes	16,232	15,802	72,886	14,214
Net income	$ 47,198	$ 55,116	$ 222,516	$ 61,024
Basic income per share (in dollars per share)	$ 4.85	$ 5.83	$ 23.23	$ 6.49
Diluted income per share (in dollars per share)	$ 4.74	$ 5.72	$ 22.91	$ 6.48
Comprehensive income:
Net income	$ 47,198	$ 55,116	$ 222,516	$ 61,024
Other comprehensive income:
Amortization of unrecognized pension gain, net of tax	238	294	723	604
Other	7	(5)	24	(2)
Total other comprehensive income	245	289	747	602
Comprehensive income	$ 47,443	$ 55,405	$ 223,263	$ 61,626

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021
Current assets:
Cash	$ 186	$ 82
Receivables, less allowances of $4,471 and $4,123, respectively	344,974	293,643
Inventories, net	436,438	342,108
Other current assets	38,828	32,581
Total current assets	820,426	668,414
Property and equipment, at cost	309,108	299,935
Accumulated depreciation	(131,587)	(121,223)
Property and equipment, net	177,521	178,712
Operating lease right-of-use assets	51,178	51,142
Goodwill	47,772	47,772
Intangible assets, net	14,699	18,889
Deferred tax assets	70,683	62,899
Other non-current assets	20,052	20,302
Total assets	1,202,331	1,048,130
Current liabilities:
Accounts payable	210,386	165,163
Accrued compensation	18,330	24,751
Taxes payable	6,488	7,847
Current maturities of long-term debt, net of debt issuance costs of $0 and $74, respectively	0	1,171
Finance lease liabilities - short-term	5,606	5,675
Operating lease liabilities - short-term	4,881	6,076
Real estate deferred gains - short-term	4,040	4,040
Other current liabilities	13,527	14,309
Total current liabilities	263,258	229,032
Non-current liabilities:
Long-term debt, net of debt issuance costs of $3,608 and $8,936, respectively	219,541	321,270
Finance lease liabilities - long-term	271,314	267,443
Operating lease liabilities - long-term	46,412	44,965
Real estate deferred gains - long-term	75,157	78,009
Pension benefit obligation	19,926	22,684
Other non-current liabilities	24,497	25,635
Total liabilities	920,105	989,038
Commitments and Contingencies
STOCKHOLDERS’ EQUITY:
Common Stock, $0.01 par value, 20,000,000 shares authorized, 9,723,838 and 9,462,774 outstanding on October 2, 2021 and January 2, 2021, respectively	97	95
Additional paid-in capital	266,564	266,695
Accumulated other comprehensive loss	(35,245)	(35,992)
Accumulated stockholders’ equity (deficit)	50,810	(171,706)
Total stockholders’ equity	282,226	59,092
Total liabilities and stockholders’ equity	$ 1,202,331	$ 1,048,130

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 4,471	$ 4,123
Debt discount, current	0	74
Debt discount, noncurrent	$ 3,608	$ 8,936
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	9,723,838	9,462,774

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Equity (Deficit)
Beginning balance (in shares) at Dec. 28, 2019		9,366
Beginning balance at Dec. 28, 2019	$ (26,083)	$ 94	$ 260,974	$ (34,563)	$ (252,588)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(787)				(787)
Foreign currency translation, net of tax	3			3
Impact of pension plan, net of tax	196			196
Vesting of restricted stock units (in shares)		2
Vesting of restricted stock units	0
Compensation related to share-based grants	1,004		1,004
Repurchase of shares to satisfy employee tax withholdings (in shares)		(1)
Repurchase of shares to satisfy employee tax withholdings	(7)		(7)
Other	(10)		9	(19)
Ending balance (in shares) at Mar. 28, 2020		9,367
Ending balance at Mar. 28, 2020	(25,684)	$ 94	261,980	(34,383)	(253,375)
Beginning balance (in shares) at Dec. 28, 2019		9,366
Beginning balance at Dec. 28, 2019	(26,083)	$ 94	260,974	(34,563)	(252,588)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	61,024
Ending balance (in shares) at Sep. 26, 2020		9,462
Ending balance at Sep. 26, 2020	38,213	$ 95	263,643	(33,961)	(191,564)
Beginning balance (in shares) at Mar. 28, 2020		9,367
Beginning balance at Mar. 28, 2020	(25,684)	$ 94	261,980	(34,383)	(253,375)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	6,695				6,695
Foreign currency translation, net of tax	17			17
Impact of pension plan, net of tax	114			114
Vesting of restricted stock units (in shares)		122
Vesting of restricted stock units	1	$ 1
Compensation related to share-based grants	854		854
Repurchase of shares to satisfy employee tax withholdings (in shares)		(28)
Repurchase of shares to satisfy employee tax withholdings	(247)		(247)
Other	2			2
Ending balance (in shares) at Jun. 27, 2020		9,461
Ending balance at Jun. 27, 2020	(18,248)	$ 95	262,587	(34,250)	(246,680)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	55,116				55,116
Foreign currency translation, net of tax	(12)			(12)
Impact of pension plan, net of tax	294			294
Vesting of restricted stock units (in shares)		1
Vesting of restricted stock units	0
Compensation related to share-based grants	1,057		1,057
Repurchase of shares to satisfy employee tax withholdings	(1)		(1)
Other	7			7
Ending balance (in shares) at Sep. 26, 2020		9,462
Ending balance at Sep. 26, 2020	38,213	$ 95	263,643	(33,961)	(191,564)
Beginning balance (in shares) at Jan. 02, 2021		9,463
Beginning balance at Jan. 02, 2021	59,092	$ 95	266,695	(35,992)	(171,706)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	61,860				61,860
Foreign currency translation, net of tax	(6)			(6)
Impact of pension plan, net of tax	239			239
Vesting of restricted stock units (in shares)		8
Vesting of restricted stock units	0
Compensation related to share-based grants	1,410		1,410
Repurchase of shares to satisfy employee tax withholdings (in shares)		(3)
Repurchase of shares to satisfy employee tax withholdings	(99)		(99)
Other	17			17
Ending balance (in shares) at Apr. 03, 2021		9,468
Ending balance at Apr. 03, 2021	122,513	$ 95	268,006	(35,742)	(109,846)
Beginning balance (in shares) at Jan. 02, 2021		9,463
Beginning balance at Jan. 02, 2021	59,092	$ 95	266,695	(35,992)	(171,706)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	222,516
Ending balance (in shares) at Oct. 02, 2021		9,724
Ending balance at Oct. 02, 2021	282,226	$ 97	266,564	(35,245)	50,810
Beginning balance (in shares) at Apr. 03, 2021		9,468
Beginning balance at Apr. 03, 2021	122,513	$ 95	268,006	(35,742)	(109,846)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	113,458				113,458
Foreign currency translation, net of tax	6			6
Impact of pension plan, net of tax	246			246
Vesting of restricted stock units (in shares)		355
Vesting of restricted stock units	2	$ 2
Compensation related to share-based grants	1,992		1,992
Repurchase of shares to satisfy employee tax withholdings (in shares)		(113)
Repurchase of shares to satisfy employee tax withholdings	(5,033)		(5,033)
Other	(2)		(2)
Ending balance (in shares) at Jul. 03, 2021		9,710
Ending balance at Jul. 03, 2021	233,182	$ 97	264,963	(35,490)	3,612
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	47,198				47,198
Foreign currency translation, net of tax	7			7
Impact of pension plan, net of tax	238			238
Vesting of restricted stock units (in shares)		14
Vesting of restricted stock units	0
Compensation related to share-based grants	1,608		1,608
Repurchase of shares to satisfy employee tax withholdings	(3)		(3)
Other	(4)		(4)
Ending balance (in shares) at Oct. 02, 2021		9,724
Ending balance at Oct. 02, 2021	$ 282,226	$ 97	$ 266,564	$ (35,245)	$ 50,810

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020
Cash flows from operating activities:
Net income	$ 222,516	$ 61,024
Adjustments to reconcile net income to cash provided by operations:
Provision for income taxes	72,886	14,214
Depreciation and amortization	21,429	21,785
Amortization of debt issuance costs	1,560	2,888
Adjustments to debt issuance costs associated with term loan	5,791	0
Gains from sales of property	(1,287)	(9,209)
Amortization of deferred gains from real estate	(2,951)	(2,951)
Share-based compensation	5,010	2,915
Changes in operating assets and liabilities:
Accounts receivable	(51,331)	(115,712)
Inventories	(94,330)	39,776
Accounts payable	45,223	46,600
Other current assets	(7,083)	(1,380)
Pension contributions	(325)	(142)
Other assets and liabilities	(90,249)	14,588
Net cash provided by operating activities	126,859	74,396
Cash flows from investing activities:
Proceeds from sale of assets	2,652	10,742
Property and equipment investments	(5,424)	(1,943)
Net cash provided by (used in) investing activities	(2,772)	8,799
Cash flows from financing activities:
Borrowings on revolving credit facilities	900,006	541,700
Repayments on revolving credit facilities	(965,142)	(605,221)
Repayments on term loan	(43,204)	(88,861)
Proceeds from real estate financing transactions	0	78,263
Debt financing costs	(2,811)	(2,983)
Repurchase of shares to satisfy employee tax withholdings	(5,135)	(255)
Principal payments on finance lease liabilities	(7,697)	(7,327)
Net cash used in financing activities	(123,983)	(84,684)
Net change in cash	104	(1,489)
Cash at beginning of period	82	11,643
Cash at end of period	186	10,154
Supplemental Cash Flow Information
Net income tax payment during the period	82,596	610
Interest paid during the period	$ 26,382	$ 33,716

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Oct. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements include the accounts of BlueLinx Holdings Inc. and its wholly owned subsidiaries (the “Company”). We derived the condensed consolidated balance sheet at October 2, 2021, from the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2021 (the “Fiscal 2020 Form 10-K”), as filed with the Securities and Exchange Commission on March 3, 2021. In the opinion of our management, the condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of our statements of operations and comprehensive income for the three and nine months ended October 2, 2021, and September 26, 2020, our balance sheets at October 2, 2021, and January 2, 2021, our statements of stockholders’ equity (deficit) for the nine months ended October 2, 2021, and September 26, 2020, and our statements of cash flows for the nine months ended October 2, 2021, and September 26, 2020. We have condensed or omitted certain notes and other information from the interim condensed consolidated financial statements presented in this report. Therefore, these condensed consolidated interim financial statements should be read in conjunction with the Fiscal 2020 Form 10-K. The results for the three and nine months ended October 2, 2021 are not necessarily indicative of results that may be expected for the full year ending January 1, 2022, or any other interim period. We operate on a 5-4-4 fiscal calendar. Our fiscal year ends on the Saturday closest to December 31 of that fiscal year and may comprise 53 weeks in certain years. Our 2021 fiscal year contains 52 weeks and ends on January 1, 2022. Fiscal 2020 contained 53 weeks and ended on January 2, 2021. Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions, which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. Some of our estimates may be affected by the ongoing novel coronavirus (“COVID-19”) pandemic. The severity, magnitude, and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing, and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to the continuing COVID-19 pandemic. Reclassification of Prior Period Presentation We have reclassified certain costs within the Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 26, 2020, from selling, general and administrative to amortization of deferred gains on real estate. These amounts relate to the amortization of deferred gains from real estate transactions in 2017 and 2018. Refer to Note 9, Leases. Additionally, we reclassified amounts in other comprehensive income from foreign currency translation, net of tax, to other, for the nine months ended October 2, 2021, and three and nine months ended September 26, 2020. We have reclassified certain payables within the Condensed Consolidated Balance Sheets for the year ended January 2, 2021, from other current liabilities to taxes payable. These payables relate to amounts due to various tax authorities. Recently Adopted Accounting Standards Income Taxes . In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification (“ASC”) 740 and also clarifies and amends existing guidance to improve consistent application. The amendments in this standard are effective for interim periods and fiscal years beginning after December 15, 2020. Early adoption is permitted. We adopted this standard for the first fiscal quarter of 2021. The adoption of this standard did not have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. Defined Benefit Pension Plan . In August 2018, the FASB issued ASU No. 2018-14, “Compensation-Retirement-Benefits-Defined Benefit Plans-General (Subtopic 715-20).” The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing six previously required disclosures and adding two. The ASU also removes the disclosure requirements for the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement healthcare benefits. We adopted this standard effective for fiscal year 2020. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations, or cash flows. Fair Value Measurement . In August 2018, the FASB issued ASU No. 2018-13, “Fair Value (“FV”) Measurement (Topic 820).” In addition to making certain modifications, the standard removed the requirements to disclose: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the FV hierarchy; (ii) the policy for timing transfers between levels; and (iii) the valuation process for Level 3 FV measurements. The standard requires public entities to disclose: (a) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 FV measurements held at the end of the reporting period; and (b) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 FV measurements. The additional disclosure requirements are applied prospectively for the most recent interim or annual period presented in the fiscal year of adoption. All other amendments are applied retrospectively to all periods presented. We adopted this standard effective December 29, 2019, the first day of our 2020 fiscal year. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations, or cash flows. Accounting Standards Effective in Future Periods Credit Impairment Losses. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326).” This ASU sets forth a current expected credit loss (“CECL”) model which requires the measurement of all expected credit losses for financial instruments or other assets (e.g., trade receivables), held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model, is applicable to the measurement of credit losses on financial assets measured at amortized cost, and applies to some off-balance sheet credit exposures. The standard also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity's portfolio. ASU 2019-10 extended the effective date of ASU 2016-13 to interim and annual periods beginning after December 15, 2022, for certain public business entities, including smaller reporting companies. We have not completed our assessment of the standard, but we do not expect the adoption to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.

Inventories

Inventories	9 Months Ended
	Oct. 02, 2021
Inventory Disclosure [Abstract]
Inventories	InventoriesOur inventories consist almost entirely of finished goods inventory, with an immaterial amount of work-in-process inventory. The cost of all inventories is determined by the moving average cost method. We have included all material charges directly incurred in bringing inventory to its existing condition and location. We evaluate our inventory value at the end of each quarter to ensure that inventory, when viewed by category, is carried at the lower of cost and net realizable value, which also considers items that may be considered damaged, excess, and obsolete inventory. For the three month periods ended October 2, 2021, we released a lower of cost or net realizable value reserve of $16.7 million resulting from the decrease in value of our structural lumber inventory related to the decline in wood-based commodity prices, accrued during the second quarter of fiscal 2021, as the inventory impacted by the reserve was sold to customers. The lower of cost of net realizable value reserve of $16.7 million had no net impact on the nine month period ended October 2, 2021.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Oct. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible AssetsIn connection with the acquisition of Cedar Creek on April 13, 2018, we acquired certain intangible assets. As of October 2, 2021, our intangible assets consist of goodwill and other intangible assets including customer relationships, noncompete agreements, and trade names. Goodwill Goodwill is the excess of the cost of an acquired entity over the fair value of tangible and intangible assets (including customer relationships, noncompete agreements, and trade names) acquired, and liabilities assumed, under acquisition accounting for business combinations. As of October 2, 2021, goodwill was $47.8 million. Goodwill is not subject to amortization but must be tested for impairment at least annually. This test requires us to assign goodwill to a reporting unit and to determine if the fair value of the reporting unit’s goodwill is less than its carrying amount. We evaluate goodwill for impairment during the fourth quarter of each fiscal year. In addition, we will evaluate the carrying value for impairment between annual impairment tests if an event occurs or circumstances change that would indicate the carrying amount may be impaired. Such events and indicators may include, without limitation, significant declines in the industries in which our products are used, significant changes in capital market conditions, and significant changes in our market capitalization. No such indicators were present during the third quarter of fiscal 2021. Our one reporting unit has a fair value that exceeds its carrying value as of October 2, 2021. Definite-Lived Intangible Assets On October 2, 2021, the gross carrying amounts, accumulated amortization, and net carrying amounts of our definite-lived intangible assets were as follows: Intangible Asset Weighted Average Remaining Useful Lives Gross Carrying Amounts Accumulated Amortization (1) Net Carrying Amounts (Years) (In thousands) Customer relationships 9 $ 25,500 $ (11,912) $ 13,588 Noncompete agreements 1 8,254 (7,143) 1,111 Trade names 0 6,826 (6,826) — Total $ 40,580 $ (25,881) $ 14,699 (1) Intangible assets, except customer relationships, are amortized on a straight-line basis. Customer relationships are amortized on a double declining balance method. During the second quarter of fiscal 2021, our trade names intangible asset became fully amortized. Amortization Expense Amortization expense for our definite-lived intangible assets was $1.1 million and $4.2 million for the three and nine month periods ended October 2, 2021, respectively. For the three and nine month periods ended September 26, 2020, amortization expense was $1.8 million and $5.6 million, respectively. Estimated amortization expense for definite-lived intangible assets for the remaining portion of 2021 and the next five fiscal years is as follows: Fiscal year Estimated Amortization (In thousands) 2021 $ 1,131 2022 2,763 2023 1,807 2024 1,505 2025 1,423 2026 1,423

Revenue Recognition

Revenue Recognition	9 Months Ended
	Oct. 02, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition We recognize revenue when the following criteria are met: (1) Contract with the customer has been identified; (2) Performance obligations in the contract have been identified; (3) Transaction price has been determined; (4) Transaction price has been allocated to the performance obligations; and (5) When (or as) performance obligations are satisfied. Contracts with our customers are generally in the form of standard terms and conditions of sale. From time to time, we may enter into specific contracts, which may affect delivery terms. Performance obligations in our contracts generally consist solely of delivery of goods. For all sales channel types, consisting of warehouse, direct, and reload sales, we typically satisfy our performance obligations upon shipment. Our customer payment terms are typical for our industry, and may vary by the type and location of our customer and the products or services offered. The term between invoicing and when payment is due is not deemed to be significant by us. For certain sales channels and/or products, our standard terms of payment may be as early as ten days. In addition, we provide inventory to certain customers through pre-arranged agreements on a consignment basis. Customer consigned inventory is maintained and stored by certain customers; however, ownership and risk of loss remain with us. All revenues recognized are net of trade allowances (i.e., rebates), cash discounts, and sales returns. Cash discounts and sales returns are estimated using historical experience. Trade allowances are based on the estimated obligations and historical experience. Adjustments to earnings resulting from revisions to estimates on discounts and returns have been insignificant for each of the reported periods. Certain customers may receive cash-based incentives or credits, which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. We believe that there will not be significant changes to our estimates of variable consideration. The following table presents our revenues disaggregated by revenue source. Certain prior year amounts have been reclassified to conform to the current year product mix of structural and specialty products. Sales and usage-based taxes are excluded from revenues. Three Months Ended Nine Months Ended Product type October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Structural products $ 329,818 $ 375,072 $ 1,425,389 $ 865,302 Specialty products 641,024 495,991 1,878,835 1,366,607 Total net sales $ 970,842 $ 871,063 $ 3,304,224 $ 2,231,909 The following table presents our revenues disaggregated by sales channel. Warehouse sales are delivered from our warehouses. Reload sales are similar to warehouse sales but are shipped from warehouses, most of which are operated by third-parties, where we store owned products to enhance our operating efficiencies. This channel is employed primarily to service strategic customers that would be less economical to service from our warehouses, and to distribute large volumes of imported products from port facilities. Direct sales are shipped from the manufacturer to the customer without our taking physical possession of the inventory and, as a result, typically generate lower margins than our warehouse and reload distribution channels. This distribution channel requires the lowest amount of committed capital and fixed costs. Sales and usage-based taxes are excluded from revenues. Three Months Ended Nine Months Ended Sales channel October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Warehouse and reload $ 783,758 $ 745,185 $ 2,695,326 $ 1,901,285 Direct 204,524 138,750 660,934 363,250 Customer discounts and rebates (17,440) (12,872) (52,036) (32,626) Total net sales $ 970,842 $ 871,063 $ 3,304,224 $ 2,231,909

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Oct. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Assets Held for SaleAs of October 2, 2021, and January 2, 2021, the net book value of total assets held for sale was $0.9 million and $1.3 million, respectively, and was included in “Other current assets” in our Condensed Consolidated Balance Sheets. Only one of our non-operating properties was designated as “held for sale” as of October 2, 2021. This property is a former distribution facility located in Houston, Texas. We vacated this property and designated it as held for sale during fiscal 2020. We continue to actively market this property, and we plan to sell this property within the next 12 months.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 02, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt As of October 2, 2021, and January 2, 2021, long-term debt consisted of the following: Debt categories October 2, 2021 January 2, 2021 (In thousands) Revolving Credit Facility (1) $ 223,149 $ 288,247 Term Loan Facility (2) — 43,204 Finance lease obligations (3) 276,920 273,118 500,069 604,569 Unamortized debt issuance costs (3,608) (9,010) 496,461 595,559 Less: current maturities of long-term debt 5,606 6,846 Long-term debt, net of current maturities $ 490,855 $ 588,713 (1) The average effective interest rate was 2.0 percent and 2.8 percent for the quarters ended October 2, 2021 and January 2, 2021, respectively. (2) The average interest rate, exclusive of fees and prepayment premiums, was 8.0 percent for the quarter ended January 2, 2021. (3) Refer to Note 9, Leases , for interest rates associated with finance lease obligations. Revolving Credit Facility We have a revolving credit facility that we entered into in April 2018 with Wells Fargo Bank, National Association, as administrative agent (“the Agent”), and certain other financial institutions party thereto. On August 2, 2021, we entered into a second amendment to the facility to, among other things, extend the maturity date of the facility to August 2, 2026, and reduce the interest rate on borrowings under the facility (as amended, the “Revolving Credit Facility”) . The Revolving Credit Facility includes a committed senior secured asset-based revolving loan and letter of credit facility of up to $600.0 million, and an uncommitted accordion feature that permits us to increase the facility by an aggregate additional principal amount of up to $150.0 million. Our obligations under the Revolving Credit Facility are secured by a security interest in substantially all of our assets other than real property. Loans under the Revolving Credit Facility bear interest at a rate per annum equal to (i) LIBOR plus a margin ranging from 1.25 percent to 1.75 percent, with the amount of such margin determined based upon the average of our excess availability for the immediately preceding fiscal quarter as calculated by the administrative agent, for loans based on LIBOR, or (ii) the administrative agent’s base rate plus a margin ranging from 0.25 percent to 0.75 percent, with the amount of such margin determined based upon the average of our excess availability for the immediately preceding fiscal quarter as calculated by the administrative agent, for loans based on the base rate. As of October 2, 2021, we had outstanding borrowings of $223.1 million and excess availability of $351.9 million under our Revolving Credit Facility. As of January 2, 2021, we had outstanding borrowings of $288.2 million and excess availability of $184.3 million under our Revolving Credit Facility. Our average effective interest rate under the facility was 2.0 percent and 2.8 percent for the quarters ended October 2, 2021 and January 2, 2021, respectively. For the quarter ended September 26, 2020, our average effective interest rate under the Revolving Credit Facility was 2.7 percent. The Revolving Credit Facility contains certain financial and other covenants, and our right to borrow under the Revolving Credit Facility is conditioned upon, among other things, our compliance with these covenants. We were in compliance with all covenants under the Revolving Credit Facility as of October 2, 2021. On October 25, 2021, we closed a private offering of $300.0 million at 6.0% senior secured notes to persons reasonably believed to be “qualified institutional buyers,” as defined in Rule 144A under the Securities Act of 1933, as amended (“The Securities Act”), and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The 2029 Notes were issued to investors at 98.625% of their principal amount and will mature on November 15, 2029. The majority of net proceeds from the offering of the senior secured notes were used to repay borrowings under our Revolving Credit Facility. In conjunction with this offering, we reduced the limit of the Revolving Credit Facility from $600.0 million to $350.0 million. Term Loan Facility As of January 2, 2021, we had outstanding borrowings of $43.2 million under our Term Loan Facility. On April 2, 2021, we repaid the remaining outstanding principal balance of the Term Loan Facility, and, as a result, as of October 2, 2021, we had no outstanding borrowings under the Term Loan Facility, which has been extinguished. In connection with our repayment of the outstanding principal balance in full on April 2, 2021, we expensed $5.8 million of debt issuance costs during the first quarter of fiscal 2021 that we had been amortizing in connection with our former Term Loan Facility. These costs are included within interest expense, net, on the Condensed Consolidated Statements of Operations and reported separately as an adjustment to net income in our Condensed Consolidated Statements of Cash Flows. Our average interest rate under the facility, exclusive of fees and prepayment premiums, was approximately 8.0 percent for the quarter ended January 2, 2021. Finance Lease Obligations Our finance lease liabilities consist of leases related to equipment and vehicles, and real estate, with the majority of those finance leases related to real estate. For more information on our finance lease obligations, refer to Note 9, Leases .

Net Periodic Pension Benefit

Net Periodic Pension Benefit	9 Months Ended
	Oct. 02, 2021
Retirement Benefits [Abstract]
Net Periodic Pension Benefit	Net Periodic Pension Benefit The following table shows the components of our net periodic pension benefit: Three Months Ended Nine Months Ended Pension-related items October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Service cost (1) $ — $ — $ — $ — Interest cost on projected benefit obligation 505 723 1,515 2,169 Expected return on plan assets (1,140) (1,210) (3,420) (3,630) Amortization of unrecognized gain 321 263 963 789 Net periodic pension benefit $ (314) $ (224) $ (942) $ (672) (1) Service cost is not a part of our net periodic pension benefit as our pension plan is frozen for all participants. The net periodic pension benefit is included in other expense (income), net, in our Condensed Consolidated Statement of Operations and Comprehensive Income.

Stock Compensation

Stock Compensation	9 Months Ended
	Oct. 02, 2021
Share-based Payment Arrangement [Abstract]
Stock Compensation	Stock CompensationDuring the three and nine month periods ended October 2, 2021, we incurred stock compensation expense of $1.6 million and $5.0 million, respectively. For the three and nine month periods ended September 26, 2020, we incurred stock compensation expense of $1.1 million and $2.9 million. The increase in our stock compensation expense for the three and nine month periods ended 2021 are attributable to having more outstanding equity-based awards during this period than in the prior year and the vesting of awards in connection with the departure of certain employees. In addition, the stock price has increased during fiscal year 2021 compared to 2020.

Leases

Leases	9 Months Ended
	Oct. 02, 2021
Leases [Abstract]
Leases	LeasesWe have operating and finance leases for certain of our distribution facilities, office space, land, mobile fleet, and equipment. Many of our leases are non-cancelable and typically have a defined initial lease term, and some provide options to renew at our election for specified periods of time. The majority of our leases have remaining lease terms of 1 year to 15 years, some of which include one or more options to extend the leases for 5 years. Our leases generally provide for fixed annual rentals. Certain of our leases include provisions for escalating rent based on, among other things, contractually defined increases and/or changes in the Consumer Price Index (“CPI”). The known changes to lease payments are included in the lease liability at lease commencement. Unknown changes related to CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. In addition, a subset of our vehicle lease cost is considered variable. Some of our leases require us to pay taxes, insurance, and maintenance expenses associated with the leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We determine if an arrangement is a lease at inception and assess lease classification as either operating or finance at lease inception or modification. Operating lease right-of use (“ROU”) assets and liabilities are presented separately on the condensed consolidated balance sheets. Finance lease ROU assets are included in property and equipment and the finance lease obligations are presented separately in the condensed consolidated balance sheet. When a lease does not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. We have also made the accounting policy election to not separate lease components from non-lease components related to our mobile fleet asset class. Finance Lease Liabilities Our finance lease liabilities consist of leases related to equipment and vehicles, and real estate. As noted in the table below, a majority of our finance leases, formally known as capital leases, relate to real estate. During the first and second quarters of fiscal 2021, we recorded finance leases of $10.2 million and $0.3 million, respectively, related to new tractors put into service as part of our mobile fleet. These leases were entered into for a period of four years each. Additionally, during the second quarter of fiscal 2021, we recorded operating leases totaling $5.0 million related to warehouse facilities in Milwaukee, WI, and Statesville, NC. Each lease was entered into for an initial period of ten years, and has two five-year renewal options. The following table presents our assets and liabilities related to our leases as of October 2, 2021 and January 2, 2021: Lease assets and liabilities October 2, 2021 January 2, 2021 (In thousands) Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets $ 51,178 $ 51,142 Finance lease right-of-use assets (1) Property and equipment, net 148,426 148,561 Total lease right-of-use assets $ 199,604 $ 199,703 Liabilities Current portion Operating lease liabilities Operating lease liabilities - short term $ 4,881 $ 6,076 Finance lease liabilities Finance lease liabilities - short term 5,606 5,675 Non-current portion Operating lease liabilities Operating lease liabilities - long term 46,412 44,965 Finance lease liabilities Finance lease liabilities - long term 271,314 267,443 Total lease liabilities $ 328,213 $ 324,159 (1) Finance lease right-of-use assets are presented net of accumulated amortization of $70.8 million and $58.6 million as of October 2, 2021 and January 2, 2021, respectively. The components of lease expense were as follows: Three Months Ended Nine Months Ended Components of lease expense October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Operating lease cost: $ 2,959 $ 3,108 $ 8,942 $ 9,206 Finance lease cost: Amortization of right-of-use assets $ 4,012 $ 4,648 $ 12,209 $ 11,526 Interest on lease liabilities 6,244 4,949 18,659 17,670 Total finance lease costs $ 10,256 $ 9,597 $ 30,868 $ 29,196 Supplemental cash flow information related to leases was as follows: Three Months Ended Nine Months Ended Cash flow information October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,822 $ 3,029 $ 8,193 $ 8,662 Operating cash flows from finance leases 6,244 4,949 18,659 17,670 Financing cash flows from finance leases $ 3,026 $ 2,893 $ 7,697 $ 7,327 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 217 $ 3,640 $ 5,508 $ 3,668 Finance leases $ — $ 3,145 $ 10,549 $ 3,145 Supplemental balance sheet information related to leases was as follows: Balance sheet information October 2, 2021 January 2, 2021 (In thousands) Finance leases Property and equipment $ 219,192 $ 207,147 Accumulated depreciation (70,766) (58,586) Property and equipment, net $ 148,426 $ 148,561 Weighted Average Remaining Lease Term (in years) Operating leases 10.86 11.14 Finance leases 16.05 16.08 Weighted Average Discount Rate Operating leases 9.00 % 9.28 % Finance leases 9.94 % 9.87 % The major categories of our finance lease liabilities as of October 2, 2021 and January 2, 2021 are as follows: Category October 2, 2021 January 2, 2021 (In thousands) Equipment and vehicles $ 33,717 $ 29,434 Real estate 243,203 243,684 Total finance leases $ 276,920 $ 273,118 As of October 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 10,134 $ 8,238 2022 9,402 32,495 2023 7,943 32,191 2024 8,207 31,575 2025 7,322 27,850 Thereafter 42,310 379,747 Total lease payments $ 85,318 $ 512,096 Less: imputed interest (34,025) (235,176) Total $ 51,293 $ 276,920 On January 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 11,215 $ 30,159 2022 9,161 29,453 2023 8,400 29,189 2024 7,283 28,649 2025 7,392 28,102 Thereafter 44,092 380,511 Total lease payments $ 87,543 $ 526,063 Less: imputed interest (36,502) (252,945) Total $ 51,041 $ 273,118
Leases	LeasesWe have operating and finance leases for certain of our distribution facilities, office space, land, mobile fleet, and equipment. Many of our leases are non-cancelable and typically have a defined initial lease term, and some provide options to renew at our election for specified periods of time. The majority of our leases have remaining lease terms of 1 year to 15 years, some of which include one or more options to extend the leases for 5 years. Our leases generally provide for fixed annual rentals. Certain of our leases include provisions for escalating rent based on, among other things, contractually defined increases and/or changes in the Consumer Price Index (“CPI”). The known changes to lease payments are included in the lease liability at lease commencement. Unknown changes related to CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. In addition, a subset of our vehicle lease cost is considered variable. Some of our leases require us to pay taxes, insurance, and maintenance expenses associated with the leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We determine if an arrangement is a lease at inception and assess lease classification as either operating or finance at lease inception or modification. Operating lease right-of use (“ROU”) assets and liabilities are presented separately on the condensed consolidated balance sheets. Finance lease ROU assets are included in property and equipment and the finance lease obligations are presented separately in the condensed consolidated balance sheet. When a lease does not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. We have also made the accounting policy election to not separate lease components from non-lease components related to our mobile fleet asset class. Finance Lease Liabilities Our finance lease liabilities consist of leases related to equipment and vehicles, and real estate. As noted in the table below, a majority of our finance leases, formally known as capital leases, relate to real estate. During the first and second quarters of fiscal 2021, we recorded finance leases of $10.2 million and $0.3 million, respectively, related to new tractors put into service as part of our mobile fleet. These leases were entered into for a period of four years each. Additionally, during the second quarter of fiscal 2021, we recorded operating leases totaling $5.0 million related to warehouse facilities in Milwaukee, WI, and Statesville, NC. Each lease was entered into for an initial period of ten years, and has two five-year renewal options. The following table presents our assets and liabilities related to our leases as of October 2, 2021 and January 2, 2021: Lease assets and liabilities October 2, 2021 January 2, 2021 (In thousands) Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets $ 51,178 $ 51,142 Finance lease right-of-use assets (1) Property and equipment, net 148,426 148,561 Total lease right-of-use assets $ 199,604 $ 199,703 Liabilities Current portion Operating lease liabilities Operating lease liabilities - short term $ 4,881 $ 6,076 Finance lease liabilities Finance lease liabilities - short term 5,606 5,675 Non-current portion Operating lease liabilities Operating lease liabilities - long term 46,412 44,965 Finance lease liabilities Finance lease liabilities - long term 271,314 267,443 Total lease liabilities $ 328,213 $ 324,159 (1) Finance lease right-of-use assets are presented net of accumulated amortization of $70.8 million and $58.6 million as of October 2, 2021 and January 2, 2021, respectively. The components of lease expense were as follows: Three Months Ended Nine Months Ended Components of lease expense October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Operating lease cost: $ 2,959 $ 3,108 $ 8,942 $ 9,206 Finance lease cost: Amortization of right-of-use assets $ 4,012 $ 4,648 $ 12,209 $ 11,526 Interest on lease liabilities 6,244 4,949 18,659 17,670 Total finance lease costs $ 10,256 $ 9,597 $ 30,868 $ 29,196 Supplemental cash flow information related to leases was as follows: Three Months Ended Nine Months Ended Cash flow information October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,822 $ 3,029 $ 8,193 $ 8,662 Operating cash flows from finance leases 6,244 4,949 18,659 17,670 Financing cash flows from finance leases $ 3,026 $ 2,893 $ 7,697 $ 7,327 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 217 $ 3,640 $ 5,508 $ 3,668 Finance leases $ — $ 3,145 $ 10,549 $ 3,145 Supplemental balance sheet information related to leases was as follows: Balance sheet information October 2, 2021 January 2, 2021 (In thousands) Finance leases Property and equipment $ 219,192 $ 207,147 Accumulated depreciation (70,766) (58,586) Property and equipment, net $ 148,426 $ 148,561 Weighted Average Remaining Lease Term (in years) Operating leases 10.86 11.14 Finance leases 16.05 16.08 Weighted Average Discount Rate Operating leases 9.00 % 9.28 % Finance leases 9.94 % 9.87 % The major categories of our finance lease liabilities as of October 2, 2021 and January 2, 2021 are as follows: Category October 2, 2021 January 2, 2021 (In thousands) Equipment and vehicles $ 33,717 $ 29,434 Real estate 243,203 243,684 Total finance leases $ 276,920 $ 273,118 As of October 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 10,134 $ 8,238 2022 9,402 32,495 2023 7,943 32,191 2024 8,207 31,575 2025 7,322 27,850 Thereafter 42,310 379,747 Total lease payments $ 85,318 $ 512,096 Less: imputed interest (34,025) (235,176) Total $ 51,293 $ 276,920 On January 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 11,215 $ 30,159 2022 9,161 29,453 2023 8,400 29,189 2024 7,283 28,649 2025 7,392 28,102 Thereafter 44,092 380,511 Total lease payments $ 87,543 $ 526,063 Less: imputed interest (36,502) (252,945) Total $ 51,041 $ 273,118

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Environmental and Legal Matters From time to time, we are involved in various proceedings incidental to our businesses, and we are subject to a variety of environmental and pollution control laws and regulations in all jurisdictions in which we operate. Although the ultimate outcome of these proceedings cannot be determined with certainty, based on presently available information management believes that adequate reserves have been established for probable losses with respect thereto and receivables recorded for expected receipts from settlements. Management further believes that, while the ultimate outcome of one or more of these matters could be material to our operating results in any given quarter, it will not have a materially adverse effect on our consolidated financial condition, our results of operations, or our cash flows. Collective Bargaining Agreements

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossComprehensive income includes both net income and other comprehensive income. Other comprehensive income results from items deferred from recognition into our Condensed Consolidated Statements of Operations and Comprehensive Income. Accumulated other comprehensive loss is separately presented on our Condensed Consolidated Balance Sheets as part of stockholders’ equity. The changes in balances for each component of accumulated other comprehensive loss for the nine months ended October 2, 2021, were as follows: Foreign currency, net Defined Other, Total Accumulated Other Comprehensive Loss (In thousands) January 2, 2021, beginning balance, net of tax $ 660 $ (36,855) $ 203 $ (35,992) Other comprehensive income, net of tax (1) 7 723 17 747 October 2, 2021, ending balance, net of tax $ 667 $ (36,132) $ 220 $ (35,245) (1) For the nine months ended October 2, 2021, the actuarial gain recognized in the Condensed Consolidated Statements of Operations and Comprehensive Income as a component of net periodic pension benefit was $0.9 million, net of tax of $0.2 million. Please see Note 7, Net Periodic Pension Benefit , for further information.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate Our effective tax rate for the three months ended October 2, 2021, and September 26, 2020, was 25.6 percent and 22.3 percent, respectively. Our effective tax rate for the nine months ended October 2, 2021, and September 26, 2020, was 24.7 percent and 18.9 percent, respectively. Our effective tax rate for the three and nine months ended October 2, 2021 was impacted by the permanent addback of certain nondeductible expenses, including meals and entertainment and executive compensation, slightly offset by the partial release of the valuation allowance for state net operating loss carryforwards we anticipate being able to utilize based on our taxable income through the end of the third quarter of fiscal 2021. Our effective tax rate for the three and nine months ended September 26, 2020 was primarily impacted by a discrete tax benefit resulting from the release of the valuation allowance associated with nondeductible interest expense under Section 163(j) of the Internal Revenue Code (“IRC”) as a result of changes allowed under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act that was enacted on March 27, 2020 which raised the allowable percentage of deductible interest from 30 percent to 50 percent of adjusted taxable income. Our effective tax rate for the same periods was further impacted by the permanent addback of certain nondeductible expenses, including meals and entertainment and executive compensation, and the effect of the partial valuation allowance for separate company state income tax losses, combined with expense related to the vesting of restricted stock units. Deferred Tax Assets Quarterly, we assess the carrying value of our deferred tax assets for impairment by evaluating the weight of available evidence at the end of each fiscal quarter. In our evaluation of the weight of available evidence at the end of the current quarter, we considered the recent reported income in the current quarter, as well as the reported income for 2020 and the reported losses for 2019 and 2018, which resulted in a three year cumulative income situation as positive evidence which carried substantial weight. While this was substantial, it was not the only evidence we evaluated. We also considered evidence related to the four sources of taxable income to determine whether such positive evidence outweighed the negative evidence. The evidence considered included: • future reversals of existing taxable temporary differences; • future taxable income exclusive of reversing temporary differences and carryforwards; • taxable income in prior carryback years, if carryback is permitted under the tax law; and • tax planning strategies. In addition to the positive evidence discussed above, we considered as positive evidence forecasted taxable income, the detail scheduling of timing of the reversal of our deferred tax assets and liabilities, and the evidence from business and tax planning strategies. As of October 2, 2021, in our evaluation of the weight of available evidence, we concluded that our net deferred tax assets were not impaired.

Income per Share

Income per Share	9 Months Ended
	Oct. 02, 2021
Earnings Per Share [Abstract]
Income per Share	Income per Share We calculate basic income per share by dividing net income by the weighted average number of common shares outstanding. We calculate diluted income per share using the treasury stock method, by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including restricted stock units. The reconciliation of basic net income and diluted net income per common share for the three and nine month periods ended October 2, 2021, and September 26, 2020, were as follows: Three Months Ended Nine Months Ended October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands, except per share data) (In thousands, except per share data) Net income $ 47,198 $ 55,116 $ 222,516 $ 61,024 Weighted average shares outstanding - basic 9,721 9,461 9,579 9,408 Dilutive effect of share-based awards 232 170 135 11 Weighted average share outstanding - diluted 9,953 9,631 9,714 9,419 Basic income per share $ 4.85 $ 5.83 $ 23.23 $ 6.49 Diluted income per share $ 4.74 $ 5.72 $ 22.91 $ 6.48

Subsequent Event

Subsequent Event	9 Months Ended
	Oct. 02, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventClosing of Senior Secured Notes of $300M at 6.0% Due 2029On October 25, 2021, we closed a private offering of $300 million at 6.0% senior secured notes to persons reasonably believed to be “qualified institutional buyers,” as defined in Rule 144A under The Securities Act of 1933, and to non-U.S. persons outside the United States under Regulation S under the Securities Act. The 2029 Notes were issued to investors at 98.625% of their principal amount and will mature on November 15, 2029. Our obligations under these senior secured notes are guaranteed by our domestic subsidiaries that are co-borrowers under or guarantee our Revolving Credit Facility. The senior secured notes and the related guarantees are secured by a first-priority security interest in substantially all of our guarantor’s existing and future assets (other than receivables, inventory, deposit accounts, securities accounts, business interruption insurance and other related assets), subject to certain exceptions and customary permitted liens. The senior secured notes and the related guarantees are also secured on a second-priority basis by a lien on our Revolving Credit Facility collateral. The majority of net proceeds from the offering of the senior secured notes were used to repay borrowings under our Revolving Credit Facility. In conjunction with the closing of the senior secured notes offering, we reduced the limit under our Revolving Credit Facility from $600 million to $350 million.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial Statements include the accounts of BlueLinx Holdings Inc. and its wholly owned subsidiaries (the “Company”). We derived the condensed consolidated balance sheet at October 2, 2021, from the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2021 (the “Fiscal 2020 Form 10-K”), as filed with the Securities and Exchange Commission on March 3, 2021. In the opinion of our management, the condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of our statements of operations and comprehensive income for the three and nine months ended October 2, 2021, and September 26, 2020, our balance sheets at October 2, 2021, and January 2, 2021, our statements of stockholders’ equity (deficit) for the nine months ended October 2, 2021, and September 26, 2020, and our statements of cash flows for the nine months ended October 2, 2021, and September 26, 2020. We have condensed or omitted certain notes and other information from the interim condensed consolidated financial statements presented in this report. Therefore, these condensed consolidated interim financial statements should be read in conjunction with the Fiscal 2020 Form 10-K. The results for the three and nine months ended October 2, 2021 are not necessarily indicative of results that may be expected for the full year ending January 1, 2022, or any other interim period. We operate on a 5-4-4 fiscal calendar. Our fiscal year ends on the Saturday closest to December 31 of that fiscal year and may comprise 53 weeks in certain years. Our 2021 fiscal year contains 52 weeks and ends on January 1, 2022. Fiscal 2020 contained 53 weeks and ended on January 2, 2021. Our financial statements are prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions, which affect reported amounts and related disclosures in our financial statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from our expectations, which could materially affect our results of operations and financial position. Some of our estimates may be affected by the ongoing novel coronavirus (“COVID-19”) pandemic. The severity, magnitude, and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing, and difficult to predict. As a result, our accounting estimates and assumptions may change over time in response to the continuing COVID-19 pandemic.
Reclassification of Prior Period Presentation	Reclassification of Prior Period Presentation We have reclassified certain costs within the Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended September 26, 2020, from selling, general and administrative to amortization of deferred gains on real estate. These amounts relate to the amortization of deferred gains from real estate transactions in 2017 and 2018. Refer to Note 9, Leases. Additionally, we reclassified amounts in other comprehensive income from foreign currency translation, net of tax, to other, for the nine months ended October 2, 2021, and three and nine months ended September 26, 2020.
Recently Adopted Accounting Standards and Standards Effective in Future Years	Recently Adopted Accounting Standards Income Taxes . In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Accounting Standards Codification (“ASC”) 740 and also clarifies and amends existing guidance to improve consistent application. The amendments in this standard are effective for interim periods and fiscal years beginning after December 15, 2020. Early adoption is permitted. We adopted this standard for the first fiscal quarter of 2021. The adoption of this standard did not have a material impact on the Company’s consolidated financial position, results of operations, or cash flows. Defined Benefit Pension Plan . In August 2018, the FASB issued ASU No. 2018-14, “Compensation-Retirement-Benefits-Defined Benefit Plans-General (Subtopic 715-20).” The amendments in this update modify the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans by removing six previously required disclosures and adding two. The ASU also removes the disclosure requirements for the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement healthcare benefits. We adopted this standard effective for fiscal year 2020. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations, or cash flows. Fair Value Measurement . In August 2018, the FASB issued ASU No. 2018-13, “Fair Value (“FV”) Measurement (Topic 820).” In addition to making certain modifications, the standard removed the requirements to disclose: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the FV hierarchy; (ii) the policy for timing transfers between levels; and (iii) the valuation process for Level 3 FV measurements. The standard requires public entities to disclose: (a) the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 FV measurements held at the end of the reporting period; and (b) the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 FV measurements. The additional disclosure requirements are applied prospectively for the most recent interim or annual period presented in the fiscal year of adoption. All other amendments are applied retrospectively to all periods presented. We adopted this standard effective December 29, 2019, the first day of our 2020 fiscal year. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations, or cash flows. Accounting Standards Effective in Future Periods Credit Impairment Losses. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326).” This ASU sets forth a current expected credit loss (“CECL”) model which requires the measurement of all expected credit losses for financial instruments or other assets (e.g., trade receivables), held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model, is applicable to the measurement of credit losses on financial assets measured at amortized cost, and applies to some off-balance sheet credit exposures. The standard also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity's portfolio. ASU 2019-10 extended the effective date of ASU 2016-13 to interim and annual periods beginning after December 15, 2022, for certain public business entities, including smaller reporting companies. We have not completed our assessment of the standard, but we do not expect the adoption to have a material impact on the Company's consolidated financial position, results of operations, or cash flows.
Revenue Recognition	We recognize revenue when the following criteria are met: (1) Contract with the customer has been identified; (2) Performance obligations in the contract have been identified; (3) Transaction price has been determined; (4) Transaction price has been allocated to the performance obligations; and (5) When (or as) performance obligations are satisfied. Contracts with our customers are generally in the form of standard terms and conditions of sale. From time to time, we may enter into specific contracts, which may affect delivery terms. Performance obligations in our contracts generally consist solely of delivery of goods. For all sales channel types, consisting of warehouse, direct, and reload sales, we typically satisfy our performance obligations upon shipment. Our customer payment terms are typical for our industry, and may vary by the type and location of our customer and the products or services offered. The term between invoicing and when payment is due is not deemed to be significant by us. For certain sales channels and/or products, our standard terms of payment may be as early as ten days. In addition, we provide inventory to certain customers through pre-arranged agreements on a consignment basis. Customer consigned inventory is maintained and stored by certain customers; however, ownership and risk of loss remain with us. All revenues recognized are net of trade allowances (i.e., rebates), cash discounts, and sales returns. Cash discounts and sales returns are estimated using historical experience. Trade allowances are based on the estimated obligations and historical experience. Adjustments to earnings resulting from revisions to estimates on discounts and returns have been insignificant for each of the reported periods. Certain customers may receive cash-based incentives or credits, which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. We believe that there will not be significant changes to our estimates of variable consideration.
Income per Share	We calculate basic income per share by dividing net income by the weighted average number of common shares outstanding. We calculate diluted income per share using the treasury stock method, by dividing net income by the weighted average number of common shares outstanding plus the dilutive effect of outstanding share-based awards, including restricted stock units

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Oct. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Definite-Lived Intangible Assets	On October 2, 2021, the gross carrying amounts, accumulated amortization, and net carrying amounts of our definite-lived intangible assets were as follows: Intangible Asset Weighted Average Remaining Useful Lives Gross Carrying Amounts Accumulated Amortization (1) Net Carrying Amounts (Years) (In thousands) Customer relationships 9 $ 25,500 $ (11,912) $ 13,588 Noncompete agreements 1 8,254 (7,143) 1,111 Trade names 0 6,826 (6,826) — Total $ 40,580 $ (25,881) $ 14,699 (1) Intangible assets, except customer relationships, are amortized on a straight-line basis. Customer relationships are amortized on a double declining balance method.
Schedule of Definite-Lived Intangible Asset Amortization	Estimated amortization expense for definite-lived intangible assets for the remaining portion of 2021 and the next five fiscal years is as follows: Fiscal year Estimated Amortization (In thousands) 2021 $ 1,131 2022 2,763 2023 1,807 2024 1,505 2025 1,423 2026 1,423

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Oct. 02, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Revenue Source and Sales Channel	The following table presents our revenues disaggregated by revenue source. Certain prior year amounts have been reclassified to conform to the current year product mix of structural and specialty products. Sales and usage-based taxes are excluded from revenues. Three Months Ended Nine Months Ended Product type October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Structural products $ 329,818 $ 375,072 $ 1,425,389 $ 865,302 Specialty products 641,024 495,991 1,878,835 1,366,607 Total net sales $ 970,842 $ 871,063 $ 3,304,224 $ 2,231,909 The following table presents our revenues disaggregated by sales channel. Warehouse sales are delivered from our warehouses. Reload sales are similar to warehouse sales but are shipped from warehouses, most of which are operated by third-parties, where we store owned products to enhance our operating efficiencies. This channel is employed primarily to service strategic customers that would be less economical to service from our warehouses, and to distribute large volumes of imported products from port facilities. Direct sales are shipped from the manufacturer to the customer without our taking physical possession of the inventory and, as a result, typically generate lower margins than our warehouse and reload distribution channels. This distribution channel requires the lowest amount of committed capital and fixed costs. Sales and usage-based taxes are excluded from revenues. Three Months Ended Nine Months Ended Sales channel October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Warehouse and reload $ 783,758 $ 745,185 $ 2,695,326 $ 1,901,285 Direct 204,524 138,750 660,934 363,250 Customer discounts and rebates (17,440) (12,872) (52,036) (32,626) Total net sales $ 970,842 $ 871,063 $ 3,304,224 $ 2,231,909

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Oct. 02, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of October 2, 2021, and January 2, 2021, long-term debt consisted of the following: Debt categories October 2, 2021 January 2, 2021 (In thousands) Revolving Credit Facility (1) $ 223,149 $ 288,247 Term Loan Facility (2) — 43,204 Finance lease obligations (3) 276,920 273,118 500,069 604,569 Unamortized debt issuance costs (3,608) (9,010) 496,461 595,559 Less: current maturities of long-term debt 5,606 6,846 Long-term debt, net of current maturities $ 490,855 $ 588,713 (1) The average effective interest rate was 2.0 percent and 2.8 percent for the quarters ended October 2, 2021 and January 2, 2021, respectively. (2) The average interest rate, exclusive of fees and prepayment premiums, was 8.0 percent for the quarter ended January 2, 2021. (3) Refer to Note 9, Leases , for interest rates associated with finance lease obligations.

Net Periodic Pension Benefit (T

Net Periodic Pension Benefit (Tables)	9 Months Ended
	Oct. 02, 2021
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Cost for Pension Plans	The following table shows the components of our net periodic pension benefit: Three Months Ended Nine Months Ended Pension-related items October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Service cost (1) $ — $ — $ — $ — Interest cost on projected benefit obligation 505 723 1,515 2,169 Expected return on plan assets (1,140) (1,210) (3,420) (3,630) Amortization of unrecognized gain 321 263 963 789 Net periodic pension benefit $ (314) $ (224) $ (942) $ (672) (1) Service cost is not a part of our net periodic pension benefit as our pension plan is frozen for all participants.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 02, 2021
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	The following table presents our assets and liabilities related to our leases as of October 2, 2021 and January 2, 2021: Lease assets and liabilities October 2, 2021 January 2, 2021 (In thousands) Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets $ 51,178 $ 51,142 Finance lease right-of-use assets (1) Property and equipment, net 148,426 148,561 Total lease right-of-use assets $ 199,604 $ 199,703 Liabilities Current portion Operating lease liabilities Operating lease liabilities - short term $ 4,881 $ 6,076 Finance lease liabilities Finance lease liabilities - short term 5,606 5,675 Non-current portion Operating lease liabilities Operating lease liabilities - long term 46,412 44,965 Finance lease liabilities Finance lease liabilities - long term 271,314 267,443 Total lease liabilities $ 328,213 $ 324,159 (1) Finance lease right-of-use assets are presented net of accumulated amortization of $70.8 million and $58.6 million as of October 2, 2021 and January 2, 2021, respectively. Supplemental balance sheet information related to leases was as follows: Balance sheet information October 2, 2021 January 2, 2021 (In thousands) Finance leases Property and equipment $ 219,192 $ 207,147 Accumulated depreciation (70,766) (58,586) Property and equipment, net $ 148,426 $ 148,561 Weighted Average Remaining Lease Term (in years) Operating leases 10.86 11.14 Finance leases 16.05 16.08 Weighted Average Discount Rate Operating leases 9.00 % 9.28 % Finance leases 9.94 % 9.87 % The major categories of our finance lease liabilities as of October 2, 2021 and January 2, 2021 are as follows: Category October 2, 2021 January 2, 2021 (In thousands) Equipment and vehicles $ 33,717 $ 29,434 Real estate 243,203 243,684 Total finance leases $ 276,920 $ 273,118
Schedule of Lease Cost	The components of lease expense were as follows: Three Months Ended Nine Months Ended Components of lease expense October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Operating lease cost: $ 2,959 $ 3,108 $ 8,942 $ 9,206 Finance lease cost: Amortization of right-of-use assets $ 4,012 $ 4,648 $ 12,209 $ 11,526 Interest on lease liabilities 6,244 4,949 18,659 17,670 Total finance lease costs $ 10,256 $ 9,597 $ 30,868 $ 29,196 Supplemental cash flow information related to leases was as follows: Three Months Ended Nine Months Ended Cash flow information October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 2,822 $ 3,029 $ 8,193 $ 8,662 Operating cash flows from finance leases 6,244 4,949 18,659 17,670 Financing cash flows from finance leases $ 3,026 $ 2,893 $ 7,697 $ 7,327 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 217 $ 3,640 $ 5,508 $ 3,668 Finance leases $ — $ 3,145 $ 10,549 $ 3,145
Schedule of Operating Lease Maturities	As of October 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 10,134 $ 8,238 2022 9,402 32,495 2023 7,943 32,191 2024 8,207 31,575 2025 7,322 27,850 Thereafter 42,310 379,747 Total lease payments $ 85,318 $ 512,096 Less: imputed interest (34,025) (235,176) Total $ 51,293 $ 276,920 On January 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 11,215 $ 30,159 2022 9,161 29,453 2023 8,400 29,189 2024 7,283 28,649 2025 7,392 28,102 Thereafter 44,092 380,511 Total lease payments $ 87,543 $ 526,063 Less: imputed interest (36,502) (252,945) Total $ 51,041 $ 273,118
Schedule of Finance Lease Maturities	As of October 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 10,134 $ 8,238 2022 9,402 32,495 2023 7,943 32,191 2024 8,207 31,575 2025 7,322 27,850 Thereafter 42,310 379,747 Total lease payments $ 85,318 $ 512,096 Less: imputed interest (34,025) (235,176) Total $ 51,293 $ 276,920 On January 2, 2021, maturities of lease liabilities were as follows: Fiscal year Operating leases Finance leases (In thousands) 2021 $ 11,215 $ 30,159 2022 9,161 29,453 2023 8,400 29,189 2024 7,283 28,649 2025 7,392 28,102 Thereafter 44,092 380,511 Total lease payments $ 87,543 $ 526,063 Less: imputed interest (36,502) (252,945) Total $ 51,041 $ 273,118

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 02, 2021
Equity [Abstract]
Schedule of Changes in Accumulated Balances for Each Component of Other Comprehensive Income (loss)	The changes in balances for each component of accumulated other comprehensive loss for the nine months ended October 2, 2021, were as follows: Foreign currency, net Defined Other, Total Accumulated Other Comprehensive Loss (In thousands) January 2, 2021, beginning balance, net of tax $ 660 $ (36,855) $ 203 $ (35,992) Other comprehensive income, net of tax (1) 7 723 17 747 October 2, 2021, ending balance, net of tax $ 667 $ (36,132) $ 220 $ (35,245) (1) For the nine months ended October 2, 2021, the actuarial gain recognized in the Condensed Consolidated Statements of Operations and Comprehensive Income as a component of net periodic pension benefit was $0.9 million, net of tax of $0.2 million. Please see Note 7, Net Periodic Pension Benefit , for further information.

Income per Share (Tables)

Income per Share (Tables)	9 Months Ended
	Oct. 02, 2021
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) per Share	The reconciliation of basic net income and diluted net income per common share for the three and nine month periods ended October 2, 2021, and September 26, 2020, were as follows: Three Months Ended Nine Months Ended October 2, 2021 September 26, 2020 October 2, 2021 September 26, 2020 (In thousands, except per share data) (In thousands, except per share data) Net income $ 47,198 $ 55,116 $ 222,516 $ 61,024 Weighted average shares outstanding - basic 9,721 9,461 9,579 9,408 Dilutive effect of share-based awards 232 170 135 11 Weighted average share outstanding - diluted 9,953 9,631 9,714 9,419 Basic income per share $ 4.85 $ 5.83 $ 23.23 $ 6.49 Diluted income per share $ 4.74 $ 5.72 $ 22.91 $ 6.48

Inventories (Details)

Inventories (Details) $ in Millions	Oct. 02, 2021USD ($)
Inventory Disclosure [Abstract]
Market reserve	$ 16.7

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021USD ($)	Sep. 26, 2020USD ($)	Oct. 02, 2021USD ($)reporting_unit	Sep. 26, 2020USD ($)	Jan. 02, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 47,772		$ 47,772		$ 47,772
Number of reporting units | reporting_unit			1
Amortization of intangible assets	$ 1,100	$ 1,800	$ 4,200	$ 5,600

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Definite Lived Intangible Assets (Details) $ in Thousands	9 Months Ended
	Oct. 02, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amounts	$ 40,580
Accumulated Amortization	(25,881)
Net Carrying Amounts	$ 14,699
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	9 years
Gross Carrying Amounts	$ 25,500
Accumulated Amortization	(11,912)
Net Carrying Amounts	$ 13,588
Noncompete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	1 year
Gross Carrying Amounts	$ 8,254
Accumulated Amortization	(7,143)
Net Carrying Amounts	$ 1,111
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Lives	0 years
Gross Carrying Amounts	$ 6,826
Accumulated Amortization	(6,826)
Net Carrying Amounts	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization Expense (Details) $ in Thousands	Oct. 02, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 1,131
2022	2,763
2023	1,807
2024	1,505
2025	1,423
2026	$ 1,423

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021USD ($)day	Sep. 26, 2020USD ($)	Oct. 02, 2021USD ($)day	Sep. 26, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Standard terms of payment, number of days | day	10		10
Disaggregation of Revenue [Line Items]
Net sales	$ 970,842	$ 871,063	$ 3,304,224	$ 2,231,909
Warehouse and reload
Disaggregation of Revenue [Line Items]
Net sales	783,758	745,185	2,695,326	1,901,285
Direct
Disaggregation of Revenue [Line Items]
Net sales	204,524	138,750	660,934	363,250
Customer discounts and rebates
Disaggregation of Revenue [Line Items]
Net sales	(17,440)	(12,872)	(52,036)	(32,626)
Structural products
Disaggregation of Revenue [Line Items]
Net sales	329,818	375,072	1,425,389	865,302
Specialty products
Disaggregation of Revenue [Line Items]
Net sales	$ 641,024	$ 495,991	$ 1,878,835	$ 1,366,607

Assets Held for Sale (Details)

Assets Held for Sale (Details) $ in Millions	Oct. 02, 2021USD ($)property	Jan. 02, 2021USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties held for sale | property	1
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale | $	$ 0.9	$ 1.3

Long-Term Debt - Long-term Debt

Long-Term Debt - Long-term Debt Instruments (Details) - USD ($)	Oct. 02, 2021	Jan. 02, 2021	Sep. 26, 2020
Debt Instrument [Line Items]
Finance lease obligations	$ 276,920,000	$ 273,118,000
Total debt, gross	500,069,000	604,569,000
Unamortized debt issuance costs	(3,608,000)	(9,010,000)
Long-term debt	496,461,000	595,559,000
Less: current maturities of long-term debt	5,606,000	6,846,000
Long-term debt, net of current maturities	490,855,000	588,713,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 223,149,000	$ 288,247,000
Weighted average interest rate	2.00%	2.80%	2.70%
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 0	$ 43,204,000
Weighted average interest rate		8.00%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Apr. 03, 2021	Oct. 02, 2021	Sep. 26, 2020	Oct. 25, 2021	Jan. 02, 2021	Apr. 30, 2018
Debt Instrument [Line Items]
Adjustments to debt issuance costs associated with term loan		$ 5,791,000	$ 0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Credit line under our revolving credit facility						$ 600,000,000
Line of credit facility, additional borrowing capacity under uncommitted accordion feature						$ 150,000,000
Outstanding principal balance		223,100,000			$ 288,200,000
Line of credit facility, remaining borrowing capacity		351,900,000			184,300,000
Outstanding principal balance		$ 223,149,000			$ 288,247,000
Weighted average interest rate		2.00%	2.70%		2.80%
Line of Credit | Revolving Credit Facility | Subsequent event
Debt Instrument [Line Items]
Credit line under our revolving credit facility				$ 350,000,000
Line of Credit | Revolving Credit Facility | Minimum | LIBOR
Debt Instrument [Line Items]
Variable rate		1.25%
Line of Credit | Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Variable rate		0.25%
Line of Credit | Revolving Credit Facility | Maximum | LIBOR
Debt Instrument [Line Items]
Variable rate		1.75%
Line of Credit | Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Variable rate		0.75%
Secured Debt | Term Loan Facility
Debt Instrument [Line Items]
Outstanding principal balance		$ 0			$ 43,204,000
Adjustments to debt issuance costs associated with term loan	$ 5,800,000
Weighted average interest rate					8.00%
Senior Notes | Subsequent event | 6.0% Senior Secured Notes Due 2029
Debt Instrument [Line Items]
Stated interest rate				6.00%
Face amount				$ 300,000,000
Debt discount percentage				98.625%

Net Periodic Pension Benefit (D

Net Periodic Pension Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Retirement Benefits [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost on projected benefit obligation	505	723	1,515	2,169
Expected return on plan assets	(1,140)	(1,210)	(3,420)	(3,630)
Amortization of unrecognized gain	321	263	963	789
Net periodic pension benefit	$ (314)	$ (224)	$ (942)	$ (672)

Stock Compensation (Details)

Stock Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Share-based Payment Arrangement [Abstract]
Stock based compensation expense	$ 1.6	$ 1.1	$ 5	$ 2.9

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	9 Months Ended
	Oct. 02, 2021USD ($)option	Jul. 03, 2021USD ($)option	Apr. 03, 2021USD ($)	Jan. 02, 2021USD ($)
Lessee, Lease, Description [Line Items]
Number of options | option	1
Lease renewal term	5 years
Finance lease obligations	$ 276,920			$ 273,118
Operating lease liability	$ 51,293			$ 51,041
Transportation Equipment
Lessee, Lease, Description [Line Items]
Finance lease obligations		$ 300	$ 10,200
Finance lease, term of contract		4 years	4 years
Warehouse Faciility | Milwaukee, WI And Statesville, NC
Lessee, Lease, Description [Line Items]
Operating lease liability		$ 5,000
Operating lease, term of contract		10 years
Number of renewal options | option		2
Operating lease, renewal term		5 years
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	15 years

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021
Assets
Operating lease right-of-use assets	$ 51,178	$ 51,142
Finance lease right-of-use assets	148,426	148,561
Total lease right-of-use assets	199,604	199,703
Current portion
Operating lease liabilities	4,881	6,076
Finance lease liabilities	5,606	5,675
Non-current portion
Operating lease liabilities	46,412	44,965
Finance lease liabilities	271,314	267,443
Total lease liabilities	328,213	324,159
Accumulated depreciation	$ 70,766	$ 58,586
Finance lease, right-of-use asset, statement of financial position	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Leases [Abstract]
Operating lease cost:	$ 2,959	$ 3,108	$ 8,942	$ 9,206
Amortization of right-of-use assets	4,012	4,648	12,209	11,526
Interest on lease liabilities	6,244	4,949	18,659	17,670
Total finance lease costs	$ 10,256	$ 9,597	$ 30,868	$ 29,196

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 2,822	$ 3,029	$ 8,193	$ 8,662
Operating cash flows from finance leases	6,244	4,949	18,659	17,670
Financing cash flows from finance leases	3,026	2,893	7,697	7,327
Operating leases	217	3,640	5,508	3,668
Finance leases	$ 0	$ 3,145	$ 10,549	$ 3,145

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021
Finance leases
Property and equipment	$ 219,192	$ 207,147
Accumulated depreciation	(70,766)	(58,586)
Property and equipment, net	$ 148,426	$ 148,561
Weighted Average Remaining Lease Term (in years)
Operating leases	10 years 10 months 9 days	11 years 1 month 20 days
Finance leases	16 years 18 days	16 years 29 days
Weighted Average Discount Rate
Operating leases	9.00%	9.28%
Finance leases	9.94%	9.87%
Total finance leases	$ 276,920	$ 273,118
Finance lease, right-of-use asset, statement of financial position	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Equipment and vehicles
Weighted Average Discount Rate
Total finance leases	$ 33,717	$ 29,434
Real estate
Weighted Average Discount Rate
Total finance leases	$ 243,203	$ 243,684

Leases - Finance Lease Maturiti

Leases - Finance Lease Maturities (Details) - USD ($) $ in Thousands	Oct. 02, 2021	Jan. 02, 2021
Operating leases
2021	$ 10,134
2021/2022	9,402	$ 11,215
2022/2023	7,943	9,161
2023/2024	8,207	8,400
2024/2025	7,322	7,283
2025		7,392
Thereafter		44,092
Thereafter	42,310
Total lease payments	85,318	87,543
Less: imputed interest	(34,025)	(36,502)
Total	51,293	51,041
Finance leases
2021	8,238
2021/2022	32,495	30,159
2022/2023	32,191	29,453
2023/2024	31,575	29,189
2024/2025	27,850	28,649
2025		28,102
Thereafter		380,511
Thereafter	379,747
Total lease payments	512,096	526,063
Less: imputed interest	(235,176)	(252,945)
Total	$ 276,920	$ 273,118

Commitments and Contingencies (

Commitments and Contingencies (Details)	9 Months Ended
	Oct. 02, 2021employeeAgreement
Commitments and Contingencies Disclosure [Abstract]
Entity number of employees | employee	2,100
Percentage of employees for part time	1.00%
Percentage of employees represented by various labor unions	23.00%
Number of CBAs up for renewal, next fiscal year agreement	6
Percentage of employees covered by CBAs	6.00%
Number of CBAs renewed	3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 233,182	$ (18,248)	$ 59,092	$ (26,083)
Other comprehensive income, net of tax	245	289	747	602
Ending balance	282,226	38,213	282,226	38,213
Reclassification of actuarial loss			(900)
Reclassification of actuarial loss, tax			200
Foreign currency, net of tax
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			660
Other comprehensive income, net of tax			7
Ending balance	667		667
Defined benefit pension plan, net of tax
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			(36,855)
Other comprehensive income, net of tax			723
Ending balance	(36,132)		(36,132)
Other, net of tax
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			203
Other comprehensive income, net of tax			17
Ending balance	220		220
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(35,490)	(34,250)	(35,992)	(34,563)
Ending balance	$ (35,245)	$ (33,961)	$ (35,245)	$ (33,961)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Oct. 02, 2021	Sep. 26, 2020	Oct. 02, 2021	Sep. 26, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	25.60%	22.30%	24.70%	18.90%

Income per Share (Details)

Income per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 02, 2021	Jul. 03, 2021	Apr. 03, 2021	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Oct. 02, 2021	Sep. 26, 2020
Earnings Per Share [Abstract]
Net income	$ 47,198	$ 113,458	$ 61,860	$ 55,116	$ 6,695	$ (787)	$ 222,516	$ 61,024
Weighted-average shares outstanding - basic (in shares)	9,721			9,461			9,579	9,408
Dilutive effect of share-based awards (in shares)	232			170			135	11
Weighted-average shares outstanding - diluted (in shares)	9,953			9,631			9,714	9,419
Basic income per share (in dollars per share)	$ 4.85			$ 5.83			$ 23.23	$ 6.49
Diluted income per share (in dollars per share)	$ 4.74			$ 5.72			$ 22.91	$ 6.48

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 25, 2021	Apr. 30, 2018
Senior Notes | Subsequent event | 6.0% Senior Secured Notes Due 2029
Subsequent Event [Line Items]
Face amount	$ 300,000,000
Stated interest rate	6.00%
Debt discount percentage	98.625%
Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Credit line under our revolving credit facility		$ 600,000,000
Line of Credit | Subsequent event | Revolving Credit Facility
Subsequent Event [Line Items]
Credit line under our revolving credit facility	$ 350,000,000