Builders FirstSource (BLDR) 10-Q 8 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Nov. 03, 2022
Cover [Abstract]
Entity Registrant Name	BUILDERS FIRSTSOURCE, INC.
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Trading Symbol	BLDR
Security Exchange Name	NYSE
Entity Central Index Key	0001316835
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common stock, par value $0.01 per share
Entity Common Stock, Shares Outstanding		147,175,704
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-40620
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2084569
Entity Address, Address Line One	2001 Bryan Street
Entity Address, Address Line Two	Suite 1600
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	880-3500
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 5,761,463	$ 5,508,590	$ 18,368,853	$ 15,259,047
Cost of sales	3,746,731	3,796,138	12,109,601	10,893,890
Gross margin	2,014,732	1,712,452	6,259,252	4,365,157
Selling, general and administrative expenses	1,000,204	875,012	3,015,051	2,599,523
Income from operations	1,014,528	837,440	3,244,201	1,765,634
Interest expense, net	44,111	35,954	156,140	95,593
Income before income taxes	970,417	801,486	3,088,061	1,670,041
Income tax expense	232,410	188,341	723,205	387,081
Net income	$ 738,007	$ 613,145	$ 2,364,856	$ 1,282,960
Net income per share:
Basic	$ 4.75	$ 3	$ 14.12	$ 6.23
Diluted	$ 4.72	$ 2.98	$ 13.98	$ 6.18
Weighted average common shares:
Basic	155,309	204,268	167,522	205,976
Diluted	156,493	205,630	169,111	207,513

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 84,982	$ 42,603
Accounts receivable, less allowances of $54,156 and $39,510 at September 30, 2022 and December 31, 2021, respectively	1,924,912	1,708,796
Other receivables	268,694	255,075
Inventories, net	1,758,881	1,626,244
Contract assets	240,346	207,587
Other current assets	142,316	127,964
Total current assets	4,420,131	3,968,269
Property, plant and equipment, net	1,491,622	1,385,441
Operating lease right-of-use assets, net	500,031	457,833
Goodwill	3,453,340	3,270,192
Intangible assets, net	1,637,358	1,603,409
Other assets, net	35,216	29,199
Total assets	11,537,698	10,714,343
Current liabilities:
Accounts payable	1,087,994	1,093,370
Accrued liabilities	850,758	718,904
Contract liabilities	250,166	216,097
Current portion of operating lease liabilities	100,972	96,680
Current maturities of long-term debt	3,837	3,660
Total current liabilities	2,293,727	2,128,711
Noncurrent portion of operating lease liabilities	414,911	375,289
Long-term debt, net of current maturities, discounts and issuance costs	3,169,429	2,926,122
Deferred income taxes	304,939	362,121
Other long-term liabilities	130,089	119,619
Total liabilities	6,313,095	5,911,862
Commitments and contingencies (Note 8)
Stockholders' equity:
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding
Common stock, $0.01 par value, 300,000 shares authorized; 148,994 and 179,820 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	1,490	1,798
Additional paid-in capital	4,252,851	4,260,670
Retained earnings	970,262	540,013
Total stockholders' equity	5,224,603	4,802,481
Total liabilities and stockholders' equity	$ 11,537,698	$ 10,714,343

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Allowances on trade accounts receivable	$ 54,156	$ 39,510
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	148,994,000	179,820,000
Common stock, shares outstanding	148,994,000	179,820,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 2,364,856	$ 1,282,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	355,472	401,500
Deferred income taxes	(57,183)	(65,696)
Stock-based compensation expense	26,652	25,288
Net gain on sale of assets	(1,813)	(32,235)
Other non-cash adjustments	31,026	4,805
Changes in assets and liabilities, net of assets acquired and liabilities assumed:
Receivables	(91,485)	(615,453)
Inventories	(61,926)	(321,068)
Contract assets	(32,596)	(141,058)
Other current assets	(2,982)	5,491
Other assets and liabilities	5,307	16,653
Accounts payable	(31,260)	103,006
Accrued liabilities	99,778	177,874
Contract liabilities	24,020	61,150
Net cash provided by operating activities	2,627,866	903,217
Cash flows from investing activities:
Cash used for acquisitions, net of cash acquired	(619,551)	(898,113)
Proceeds from divestiture of business		76,162
Purchases of property, plant and equipment	(205,241)	(160,179)
Proceeds from sale of property, plant and equipment	7,461	11,728
Net cash used in investing activities	(817,331)	(970,402)
Cash flows from financing activities:
Borrowings under revolving credit facility	5,267,000	2,420,000
Repayments under revolving credit facility	(5,405,000)	(2,495,000)
Proceeds from long-term debt and other loans	1,001,500	1,000,000
Repayments of long-term debt and other loans	(615,082)	(471,360)
Payments of debt extinguishment costs	(20,672)	(2,475)
Payments of loan costs	(16,797)	(17,970)
Exercise of stock options	440	537
Repurchase of common stock	(1,979,545)	(565,618)
Net cash used in financing activities	(1,768,156)	(131,886)
Net change in cash and cash equivalents	42,379	(199,071)
Cash and cash equivalents at beginning of period	42,603	423,806
Cash and cash equivalents at end of period	84,982	224,735
Supplemental disclosures of cash flow information:
Cash paid for interest	138,034	75,531
Cash paid for income taxes	790,994	414,515
Supplemental disclosures of non-cash activities:
Non-cash or accrued consideration for acquisitions	9,985	3,658,362
Accrued purchases of property, plant and equipment	12,711	13,164
Right-of-use assets obtained in exchange for operating lease obligations	89,400	49,135
Assets acquired under finance lease obligations		1,644
Amounts accrued for repurchases of common stock	$ 41,826	$ 30,756

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common Stock		Additional Paid-in Capital	Retained Earnings
Balance at Dec. 31, 2020		$ 1,152,783	$ 1,168		$ 589,241	$ 562,374
Balance, shares at Dec. 31, 2020			116,829,000
Merger consideration		3,658,362	$ 896		3,657,466
Merger consideration, shares			89,586,000
Vesting of restricted stock units			$ 6		(6)
Vesting of restricted stock units, shares			648,000
Stock-based compensation expense		10,402			10,402
Exercise of stock options		235	$ 1		234
Exercise of stock options, shares			27,000
Shares withheld for restricted stock units vested		(10,417)	$ (2)		(10,415)
Shares withheld for restricted stock units vested, shares			(232,000)
Net income		172,580				172,580
Balance at Mar. 31, 2021		4,983,945	$ 2,069		4,246,922	734,954
Balance, shares at Mar. 31, 2021			206,858,000
Balance at Dec. 31, 2020		1,152,783	$ 1,168		589,241	562,374
Balance, shares at Dec. 31, 2020			116,829,000
Net income		1,282,960
Balance at Sep. 30, 2021		5,523,426	$ 1,963		4,254,262	1,267,201
Balance, shares at Sep. 30, 2021			196,288,000
Balance at Mar. 31, 2021		4,983,945	$ 2,069		4,246,922	734,954
Balance, shares at Mar. 31, 2021			206,858,000
Vesting of restricted stock units			$ 5		(5)
Vesting of restricted stock units, shares			472,000
Stock-based compensation expense		8,465			8,465
Exercise of stock options		99			99
Exercise of stock options, shares			16,000
Shares withheld for restricted stock units vested		(7,289)	$ (2)		(7,287)
Shares withheld for restricted stock units vested, shares			(150,000)
Net income		497,235				497,235
Balance at Jun. 30, 2021		5,482,455	$ 2,072		4,248,194	1,232,189
Balance, shares at Jun. 30, 2021			207,196,000
Vesting of restricted stock units, shares			38,000
Stock-based compensation expense		6,421			6,421
Repurchase of common stock	[1]	$ (578,242)	$ (109)			(578,133)
Repurchase of common stock, shares		(11,000,000)	(10,958,000)	[1]
Exercise of stock options		$ 202			202
Exercise of stock options, shares			22,000
Shares withheld for restricted stock units vested		(555)			(555)
Shares withheld for restricted stock units vested, shares			(10,000)
Net income		613,145				613,145
Balance at Sep. 30, 2021		5,523,426	$ 1,963		4,254,262	1,267,201
Balance, shares at Sep. 30, 2021			196,288,000
Balance at Dec. 31, 2021		$ 4,802,481	$ 1,798		4,260,670	540,013
Balance, shares at Dec. 31, 2021		179,820,000	179,820,000
Vesting of restricted stock units			$ 11		(11)
Vesting of restricted stock units, shares			1,018,000
Stock-based compensation expense		$ 8,840			8,840
Repurchase of common stock	[1]	$ (285,951)	$ (36)			(285,915)
Repurchase of common stock, shares		(3,600,000)	(3,593,000)	[1]
Exercise of stock options		$ 421			421
Exercise of stock options, shares			42,000
Shares withheld for restricted stock units vested		(29,384)	$ (4)		(29,380)
Shares withheld for restricted stock units vested, shares			(401,000)
Net income		639,640				639,640
Balance at Mar. 31, 2022		5,136,047	$ 1,769		4,240,540	893,738
Balance, shares at Mar. 31, 2022			176,886,000
Balance at Dec. 31, 2021		$ 4,802,481	$ 1,798		4,260,670	540,013
Balance, shares at Dec. 31, 2021		179,820,000	179,820,000
Net income		$ 2,364,856
Balance at Sep. 30, 2022		$ 5,224,603	$ 1,490		4,252,851	970,262
Balance, shares at Sep. 30, 2022		148,994,000	148,994,000
Balance at Mar. 31, 2022		$ 5,136,047	$ 1,769		4,240,540	893,738
Balance, shares at Mar. 31, 2022			176,886,000
Vesting of restricted stock units			$ 3		(3)
Vesting of restricted stock units, shares			300,000
Stock-based compensation expense		9,316			9,316
Repurchase of common stock	[1]	$ (990,739)	$ (169)			(990,570)
Repurchase of common stock, shares		(16,900,000)	(16,871,000)	[1]
Exercise of stock options		$ 13			13
Exercise of stock options, shares			1,000
Shares withheld for restricted stock units vested		(5,493)	$ (1)		(5,492)
Shares withheld for restricted stock units vested, shares			(90,000)
Net income		987,209				987,209
Balance at Jun. 30, 2022		5,136,353	$ 1,602		4,244,374	890,377
Balance, shares at Jun. 30, 2022			160,226,000
Vesting of restricted stock units, shares			6,000
Stock-based compensation expense		8,496			8,496
Repurchase of common stock	[1]	$ (658,234)	$ (112)			(658,122)
Repurchase of common stock, shares		(11,200,000)	(11,238,000)	[1]
Exercise of stock options		$ 6			6
Exercise of stock options, shares			1,000
Shares withheld for restricted stock units vested		(25)			(25)
Shares withheld for restricted stock units vested, shares			(1,000)
Net income		738,007				738,007
Balance at Sep. 30, 2022		$ 5,224,603	$ 1,490		$ 4,252,851	$ 970,262
Balance, shares at Sep. 30, 2022		148,994,000	148,994,000
[1] Pursuant to repurchase programs authorized by our board of directors, we repurchased and retired 11.2 million shares of our common stock at an average price of $ 58.57 per share for $ 658.2 million , inclusive of fees, during the three months ended September 30, 2022. We repurchased and retired 16.9 million shares of our common stock at an average price of $ 58.72 per share for $ 990.7 million, inclusive of fees, during the three months ended June 30, 2022. We repurchased and retired 3.6 million shares of our common stock at an average price of $ 79.58 per share for $ 286.0 million, inclusive of fees, during the three months ended March 31, 2022. We repurchased and retired 11.0 million shares of our common stock at an average price of $ 52.77 per share for $ 578.2 million, inclusive of fees during the three months ended September 30, 2021.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands, shares in Millions		3 Months Ended
		Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
Statement Of Stockholders Equity [Abstract]
Repurchased and retired common stock, shares		11.2	16.9	3.6	11
Repurchased and retired common stock, inclusive of fees	[1]	$ 658,234	$ 990,739	$ 285,951	$ 578,242
Average price of common shares repurchased and retired		$ 58.57	$ 58.72	$ 79.58	$ 52.77
[1] Pursuant to repurchase programs authorized by our board of directors, we repurchased and retired 11.2 million shares of our common stock at an average price of $ 58.57 per share for $ 658.2 million , inclusive of fees, during the three months ended September 30, 2022. We repurchased and retired 16.9 million shares of our common stock at an average price of $ 58.72 per share for $ 990.7 million, inclusive of fees, during the three months ended June 30, 2022. We repurchased and retired 3.6 million shares of our common stock at an average price of $ 79.58 per share for $ 286.0 million, inclusive of fees, during the three months ended March 31, 2022. We repurchased and retired 11.0 million shares of our common stock at an average price of $ 52.77 per share for $ 578.2 million, inclusive of fees during the three months ended September 30, 2021.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Builders FirstSource, Inc., a Delaware corporation formed in 1998 , is a leading supplier and manufacturer of building materials, manufactured components and construction services to professional homebuilders, sub-contractors, remodelers and consumers. The Company operates approximately 575 locations in 42 states across the United States. In this quarterly report, references to the “Company,” “we,” “our,” “ours” or “us” refer to Builders FirstSource, Inc. and its consolidated subsidiaries unless otherwise stated or the context otherwise requires. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all recurring adjustments and normal accruals necessary for a fair statement of the Company’s financial position, results of operations and cash flows for the dates and periods presented. Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. Intercompany transactions are eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2021 is derived from the audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. This condensed consolidated balance sheet as of December 31, 2021 and the unaudited condensed consolidated financial statements included herein should be read in conjunction with the more detailed audited consolidated financial statements for the year ended December 31, 2021 included in our most recent annual report on Form 10-K (“Form 10-K”). Accounting policies used in the preparation of these unaudited condensed consolidated financial statements are consistent with the accounting policies described in the Notes to Consolidated Financial Statements included in our Form 10-K. The accounting policies of our operating segments are consistent with the accounting policies described in the Notes to Consolidated Financial Statements included in our Form 10-K. Since the Company operates in one reportable segment, the primary measures reviewed by our CEO, whom we have determined to be our chief operating decision maker, including revenue, gross margin and income before income taxes, are shown in these condensed consolidated financial statements. Business Combinations When they meet the requirements under ASC 805, Business Combinations, merger and acquisition transactions are accounted for using the acquisition method, and accordingly the results of operations of the acquiree are included in the Company’s consolidated financial statements from the acquisition date. The consideration transferred is allocated to the identifiable assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with any excess recorded as goodwill. Transaction-related costs are expensed in the period the costs are incurred. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding adjustment to goodwill. Comprehensive Income Comprehensive income is equal to net income for all periods presented. Reclassifications Certain prior periods’ amounts have been reclassified to conform to the current year presentation, including presenting contract assets and contract liabilities separately on the face of the financial statements, whereas these contract assets and contract liabilities had previously been presented as a component of accounts receivable and accrued liabilities, respectively. Reclassifications had no impact on net income, total assets and liabilities, stockholders’ equity, or cash flows as previously reported. We have changed the composition of our product categories, including a decrease to four product categories. As a result of these changes, prior period amounts, as disclosed in Note 3, have been reclassified to conform to the current year presentation. Recent Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers which intends to address diversity and inconsistency in the accounting related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. This standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We have elected to early adopt this guidance effective July 1, 2022, and have determined there is no material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The purpose of ASU 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. The amendments and optional expedients in this update are effective, as elected, beginning March 12, 2020 through December 31, 2022 and may be elected by topic. We have not elected adoption of this optional guidance and do not intend to elect this guidance before the sunset date of December 31, 2022, as there is no material impact on our consolidated financial statements.

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Business Combinations	2. Business Combinations On April 1, 2022, we acquired certain assets and operations of Panel Truss of Longview, Inc., Panel Truss – Hearne, LLC, Case-Hill, Inc., Panel Truss-Dallas, LLC, Truss Ops Trucking, LLC and Truss Ops, LLC (the “Texas Panel Truss Businesses”), and Panel Truss – Oakwood, LLC, Panel Truss – Townville, LLC and Panel Truss – Ringgold, LLC (the “East Panel Truss Businesses”) for $ 89.1 million and $ 79.6 million , respectively. Each of the acquired businesses provides building components primarily to multi-family markets, serving such markets in Texas, Georgia and South Carolina. On April 1, 2022, we acquired substantially all of the assets and operations of Valley Truss Co., Inc. (“Valley Truss”) for $ 31.6 million . Valley Truss is a manufacturer of floor and roof trusses located in Boise, Idaho. On July 1, 2022, we acquired substantially all of the assets and operations of Odds-N-Ends, Inc., d/b/a HomCo Lumber & Hardware (“HomCo”) for $ 32.1 million . HomCo operates a lumberyard and hardware store business located in Flagstaff, Arizona. On September 1, 2022, we acquired Trussway, LLC and its subsidiaries (“Trussway”) for $ 274.8 million , net of cash. Trussway is a manufacturer of floor and roof trusses, serving markets in Texas, Florida, Virginia, Colorado, and Georgia. On September 1, 2022, we acquired Fulcrum Building Group Holdings, LLC and its subsidiaries (“Fulcrum”) for $ 122.3 million , net of cash. Fulcrum is a multi-brand operator of lumberyards and millwork facilities located in Florida and Alabama. Each of these acquisitions was funded with a combination of cash on hand and borrowings under our 2026 revolving credit facility (“2026 facility”). These transactions were accounted for by the acquisition method, and accordingly the results of operations have been included in the Company’s consolidated financial statements from the acquisition date. The purchase price was allocated to the assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill. The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed for the acquisitions described above: Total (in thousands) Cash and cash equivalents $ 9,133 Accounts receivable 136,916 Other receivables 1,247 Inventories 70,711 Contract assets 163 Other current assets 4,700 Property, plant and equipment 48,931 Operating lease right-of-use assets 29,724 Goodwill 183,148 Intangible assets 246,400 Total assets $ 731,073 Accounts payable $ 19,864 Accrued liabilities 30,606 Contract liabilities 10,047 Operating lease liabilities 29,724 Long-term debt 2,163 Total liabilities $ 92,404 Total purchase consideration 638,669 Less: accrued contingent consideration and purchase price adjustments ( 9,985 ) Less: cash acquired ( 9,133 ) Total cash consideration, net of cash acquired $ 619,551

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue The following table disaggregates our sales by product category: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands) Lumber & lumber sheet goods $ 1,816,347 $ 2,405,840 $ 6,986,993 $ 6,771,227 Manufactured products 1,478,183 1,259,294 4,541,390 3,208,934 Windows, doors & millwork 1,294,099 883,448 3,539,103 2,473,519 Specialty building products & services 1,172,834 960,008 3,301,367 2,805,367 Net sales $ 5,761,463 $ 5,508,590 $ 18,368,853 $ 15,259,047 Net sales from installation and construction services were less than 10 % of the Company’s net sales for each period presented. The timing of revenue recognition, invoicing and cash collection results in accounts receivable, unbilled receivables, contract assets and contract liabilities. Contract assets include unbilled amounts when the revenue recognized exceeds the amount billed to the customer, and amounts representing a right to payment from previous performance that is conditional on something other than passage of time, such as retainage. Contract liabilities consist of customer advances and deposits, and deferred revenue. Through September 30, 2022 and 2021, we recognized as revenue substantially all of the contract liabilities balance at December 31, 2021 and 2020 , respectively.

Net Income per Common Share

Net Income per Common Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income per Common Share	4. Net Income per Common Share Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the FASB Accounting Standards Codification, which requires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common shares. The table below presents the calculation of basic and diluted EPS: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands, except per share amounts) Numerator: Net income $ 738,007 $ 613,145 $ 2,364,856 $ 1,282,960 Denominator: Weighted average shares outstanding, basic 155,309 204,268 167,522 205,976 Dilutive effect of options and RSUs 1,184 1,362 1,589 1,537 Weighted average shares outstanding, diluted 156,493 205,630 169,111 207,513 Net income per share: Basic $ 4.75 $ 3.00 $ 14.12 $ 6.23 Diluted $ 4.72 $ 2.98 $ 13.98 $ 6.18 Antidilutive and contingent RSUs excluded from diluted EPS 8 220 129 241

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	5. Goodwill The following table sets forth the changes in the carrying amount of goodwill: (in thousands) Balance as of December 31, 2021 (1) $ 3,270,192 Acquisitions 183,148 Balance as of September 30, 2022 (1) $ 3,453,340 (1) Goodwill is presented net of historical accumulated impairment losses o f $ 44.6 million. In 2022, the change in the carrying amount of goodwill is attributable to the acquisitions completed during the year. As of September 30, 2022 , no triggering events have occurred. The amount allocated to goodwill is attributable to the assembled workforce, synergies and expected growth from the expanded product and service offerings of acquisitions. The $ 183.1 million of goodwill recognized from the current year acquisitions is expected to be deductible for tax purposes and will be amortizable ratably over a 15-year period for tax purposes.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	6. Intangible Assets The following table presents intangible assets as of: September 30, 2022 December 31, 2021 Gross Accumulated Amortization Gross Accumulated Amortization (in thousands) Customer relationships $ 2,026,265 $ ( 522,462 ) $ 1,781,264 $ ( 328,540 ) Trade names 201,861 ( 162,395 ) 201,861 ( 155,141 ) Subcontractor relationships 5,440 ( 5,117 ) 5,440 ( 3,757 ) Non-compete agreements 14,919 ( 5,072 ) 13,519 ( 3,243 ) Developed technology 95,600 ( 11,681 ) 95,600 ( 3,594 ) Total intangible assets $ 2,344,085 $ ( 706,727 ) $ 2,097,684 $ ( 494,275 ) In connection with the current year acquisitions, we recorded intangible assets of $ 246.4 million , which includes $ 245.0 million of customer relationships and $ 1.4 million of non-compete agreements. The weighted average useful lives of the current year acquired intangible assets are 5.1 years in total, 5.1 years for customer relationships and 5.0 years for non-compete agreements. The fair value of acquired customer relationship intangible assets was primarily estimated by applying the multi-period excess earnings method, which involved the use of significant estimates and assumptions primarily related to forecasted revenue growth rates, gross margin, contributory asset charges, customer attrition rates, and market-participant discount rates. These measures are based on significant Level 3 inputs not observable in the market. Key assumptions developed based on the Company’s historical experience, future projections and comparable market data include future cash flows, long-term growth rates, attrition rates and discount rates . During the three and nine months ended September 30, 2022, we recorded amortization expense in relation to the above-listed intangible assets of $ 76.7 million and $ 212.5 million , respectively. During the three and nine months ended September 30, 2021, we recorded amortization expense in relation to the above-listed intangible assets of $ 92.3 million and $ 261.6 million , respectively. The following table presents the estimated amortization expense (in thousands) for intangible assets for the years ending December 31: (in thousands) 2022 (from Oct 1, 2022) $ 89,643 2023 323,904 2024 261,946 2025 190,795 2026 166,933 Thereafter 604,137 Total future net intangible amortization expense $ 1,637,358

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2022
Payables And Accruals [Abstract]
Accrued Liabilities	7. Accrued Liabilities Accrued liabilities consisted of the following as of: September 30, December 31, (in thousands) Accrued payroll and other employee related expenses $ 492,125 $ 385,800 Accrued business taxes 102,445 81,055 Self-insurance reserves 77,599 68,060 Amounts accrued for repurchases of common stock 41,826 51,545 Accrued rebates payable 48,841 51,805 Accrued interest 24,766 31,666 Other 63,156 48,973 Total accrued liabilities $ 850,758 $ 718,904

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	8. Long-Term Debt Long-term debt consisted of the following as of: September 30, December 31, (in thousands) 2026 revolving credit facility (1) $ 450,000 $ 588,000 4.25 % 2032 notes 1,300,000 1,000,000 6.375 % 2032 notes 700,000 — 2030 notes 550,000 550,000 2027 notes — 612,500 Other finance obligations 200,393 202,995 Finance lease obligations 4,765 3,787 3,205,158 2,957,282 Unamortized debt discount/premium and debt issuance costs ( 31,892 ) ( 27,500 ) 3,173,266 2,929,782 Less: current maturities of long-term debt 3,837 3,660 Long-term debt, net of current maturities, discounts and issuance costs $ 3,169,429 $ 2,926,122 (1) The weighted average interest rate was 3.4 % and 2.8 % as of September 30, 2022 and December 31, 2021 , respectively. 2022 Debt Transactions On January 21, 2022, the Company completed a private offering of an additional $ 300.0 million in aggregate principal amount of 4.25 % senior unsecured notes due 2032 (“ 4.25 % 2032 notes”) at an issue price equal to 100.50 % of par value. The net proceeds from the offering were used to repay indebtedness outstanding under the 2026 facility and pay related transaction fees and expenses. The 4.25 % 2032 notes issued in January 2022 form part of the same series of notes as the $ 1.0 billion of 4.25 % 2032 notes issued in July 2021. The additional $ 1.5 million in proceeds received in excess of par value represents a debt premium which has been recorded as an increase to long-term debt. In connection with the offering, we incurred approximately $ 4.4 million of various third-party fees and expenses which have been recorded as a reduction to long-term debt. The debt premium and third-party costs will be amortized over the contractual life of the 4.25 % 2032 notes using the effective interest method. On February 4, 2022, the Company amended the 2026 facility to increase the total commitments by an aggregate amount of $ 400.0 million, resulting in a new $ 1.8 billion amended credit facility. All other material terms of the credit facility remain unchanged from those of the previous agreement. Effective with this amendment, the eurodollar rate loans and related interest rate benchmark were changed to the Secured Overnight Financing Rate (“SOFR”). The applicable margin ranges for term SOFR loans were amended to be from 1.35 % to 1.60 % and there are no changes to base rate loan borrowings. In connection with this amendment, we incurred approximately $ 2.0 million of new debt issuance costs which have been recorded as other assets and will be amortized straight-line through December 2026. The 2026 facility is discussed in more detail below. On June 15, 2022, the Company completed a private offering of $ 700.0 million in aggregate principal amount of 6.375 % senior unsecured notes due 2032 (“ 6.375 % 2032 notes”) at an issue price equal to 100 % of par value. Subsequently, on June 16, 2022, the Company redeemed the remaining $ 612.5 million in outstanding aggregate principal amount of 6.75 % senior secured notes due 2027 (“2027 notes”). In connection with the issuance of the 6.375 % 2032 notes, we incurred $ 10.4 million of various third-party fees and expenses. These costs have been recorded as a reduction to long-term debt and are being amortized over the contractual life of the 6.375 % 2032 notes using the effective interest method. The Company concluded the redemption of the 2027 notes was a debt extinguishment and recorded a loss on debt extinguishment of $ 27.4 million in interest expense in the second quarter of 2022. Of this loss, approximately $ 20.7 million was attributable to the payment of the redemption premium on the extinguished notes and $ 6.7 million was attributable to the write-off of unamortized debt issuance costs and debt premium. 2026 Revolving Credit Facility The 2026 facility provides for a $ 1.8 billion revolving credit line to be used for working capital, general corporate purposes and funding capital expenditures and growth opportunities. In addition, we may use borrowings under the 2026 facility to facilitate debt repayment and consolidation. The available borrowing capacity, or borrowing base, is derived from a percentage of the Company’s eligible receivables and inventory, as defined by the agreement evidencing the 2026 facility, subject to certain reserves. As of September 30, 2022, we had $ 450.0 million in outstanding borrowings under our 2026 facility and our net excess borrowing availability was $ 1.2 billion after being reduced by outstanding letters of credit totaling $ 129.0 million . Borrowings under the 2026 facility bear interest, at our option, at either the SOFR or a base rate, plus, in each case, an applicable margin. The applicable margin ranges from 1.35 % to 1.60 % per annum in the case of term SOFR loans and 0.25 % to 0.50 % per annum in the case of base rate loans. The margin in either case is based on a measure of availability under the 2026 facility. A commitment fee, currently 0.20 % per annum, is charged on the unused amount of the revolver based on quarterly average loan utilization. Letters of credit under the 2026 facility are assessed at a rate equal to 1.25 % or 1.50 %, based on the average excess availability, as well as a fronting fee at a rate of 0.125 % per annum. These fees are payable quarterly in arrears at the end of March, June, September, and December. All obligations under the 2026 facility are guaranteed jointly and severally by the Company and all other subsidiaries that guarantee our 5.00 % senior unsecured notes due 2030 (the “2030 notes”), our 4.25 % 2032 notes, and our 6.375 % 2032 notes (such subsidiaries, the “Debt Guarantors”). All obligations and the guarantees of those obligations are secured by substantially all of the assets of the Company and the Debt Guarantors, subject to certain exceptions and permitted liens, including, with respect to the 2026 facility, a first-priority security interest in such assets that constitute ABL Collateral (as defined below) and a second-priority security interest in such assets that constitute Notes Collateral (as defined below). “ABL Collateral” includes substantially all presently owned and after-acquired accounts receivable, inventory, rights of unpaid vendors with respect to inventory, deposit accounts, commodity accounts, securities accounts and lock boxes, investment property, cash and cash equivalents, and general intangibles, books and records, supporting obligations and documents and related letters of credit, commercial tort claims or other claims related to and proceeds of each of the foregoing. “Notes Collateral” includes all collateral that is not ABL Collateral. The 2026 facility contains restrictive covenants which, among other things, limit the Company’s ability to incur additional indebtedness, incur liens, engage in mergers or other fundamental changes, sell certain assets, pay dividends, make acquisitions or investments, prepay certain indebtedness, change the nature of our business, and engage in certain transactions with affiliates. In addition, the 2026 facility also contains a financial covenant requiring the satisfaction of a minimum fixed charge ratio of 1.00 to 1.00 if our excess availability falls below the greater of $ 80.0 million or 10 % of the maximum borrowing amount, which was $ 180.0 million as of September 30, 2022 . Senior Unsecured Notes due 2032 As described above, during 2022, the Company issued $ 300.0 million of 4.25 % 2032 notes, which form part of the same series of notes as the $ 1.0 billion of 4.25 % 2032 notes issued in July 2021, and $ 700.0 million of 6.375 % 2032 notes (collectively, the “2032 notes”). The 4.25 % 2032 notes mature on February 1, 2032 , with interest accruing at a rate of 4.25 % per annum and interest payable semi-annually on February 1 and August 1 of each year . The 6.375 % 2032 notes mature on June 15, 2032 , with interest accruing at a rate of 6.375% per annum and interest payable semi-annually on June 15 and December 15 of each year. The terms of the 4.25 % 2032 notes and the 6.375 % 2032 notes are governed by the indentures, dated as of July 23, 2021 and June 15, 2022 (collectively the “2032 Indentures”), respectively, contain consistent terms and are among the Company, the guarantors named therein and Wilmington Trust, National Association, as trustee. The 2032 notes, subject to certain exceptions, are guaranteed, jointly and severally, on a senior unsecured basis, by the Debt Guarantors. Subject to certain exceptions, future subsidiaries that guarantee the 2026 facility, the 2030 notes or certain other indebtedness will also guarantee the 2032 notes. The 2032 notes constitute senior unsecured obligations of the Company and Debt Guarantors, pari passu in right of payment, with all of the existing and future senior indebtedness of the Company, including indebtedness under the 2026 facility and the 2030 notes, effectively subordinated to all existing and future secured indebtedness of the Company and the Debt Guarantors (including indebtedness under the 2026 facility and 2032 notes) to the extent of the value of the assets securing such indebtedness, senior to all of the future subordinated indebtedness of the Company and the Debt Guarantors and structurally subordinated to any existing and future indebtedness and other liabilities, including preferred stock, of the Company’s subsidiaries that do not guarantee the 2032 notes. The 2032 Indentures contain restrictive covenants that limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional debt or issue preferred stock, create liens, create restrictions on the Company’s subsidiaries’ ability to make payments to the Company, pay dividends and make other distributions in respect of the Company’s and its subsidiaries’ capital stock, make certain investments or certain other restricted payments, guarantee indebtedness, designate unrestricted subsidiaries, sell certain kinds of assets, enter into certain types of transactions with affiliates, and effect mergers and consolidations. The Company may redeem the 2032 notes within five years from the date of issuance, in whole or in part, at a redemption price equal to 100 % of the principal amount of each of the 2032 notes plus the “applicable premium” set forth in the 2032 Indentures. The Company may, within three years of the date of issuance, redeem up to 40 % of the aggregate principal amount of each of the 2032 notes with the net cash proceeds of one or more equity offerings at a premium of the principal amount thereof, as described in the 2032 Indentures, plus accrued and unpaid interest, if any, to the redemption date. After the five-year period from original issuance, the Company may redeem each of the 2032 notes at the redemption prices set forth in the 2032 Indentures, plus accrued and unpaid interest, if any, to the redemption date. If the Company experiences certain change of control triggering events, holders of each of the 2032 notes may require it to repurchase all or part of their notes at 101 % of the principal amount thereof, plus accrued and unpaid interest, if any, to the repurchase date. Fair Value As of September 30, 2022 and December 31, 2021 , the Company does not have any financial instruments that are measured at fair value on a recurring basis. We have elected to report the value of our 2030 notes, 4.25 % 2032 notes, 6.375 % 2032 notes, and 2026 facility at amortized cost. The fair values of the 2030 notes, 4.25 % 2032 notes, and 6.375 % 2032 notes at September 30, 2022 were approximately $ 467.5 million , $ 999.4 million , and $ 625.3 million , respectively, and were determined using Level 2 inputs based on market prices. The carrying value of the 2026 facility at September 30, 2022 approximates fair value as the rates are comparable to those at which we could currently borrow under similar terms, are variable and incorporate a measure of our credit risk. As such, the fair value of the 2026 facility was also classified as Level 2 in the hierarchy. We were not in violation of any covenants or restrictions imposed by any of our debt agreements at September 30, 2022 .

Employee Stock-Based Compensati

Employee Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock-Based Compensation	9. Employee Stock-Based Compensation Time Based Restricted Stock Unit Grants In the first nine months of 2022, our board of directors granted 490,700 restricted stock units (“RSUs”) to employees under our 2014 Incentive Plan for which vesting is based solely on continuous employment over the requisite service period. 462,300 of the RSUs vest at 33 % per year at each anniversary of the grant date over the next three years, and 28,400 of the RSUs vest at 25 % on each of the second and third anniversaries of the grant date and 50 % on the fourth anniversary of the grant date. The weighted average grant date fair value for these RSUs was $ 63.55 per unit, which was based on the closing stock price on the respective grant dates. Performance, Market and Service Condition Based Restricted Stock Unit Grants In the first nine months of 2022, our board of directors granted 158,100 RSUs to employees under our 2014 Incentive Plan, which cliff vest on the third anniversary of the grant date based on the Company’s level of achievement of performance goals relating to return on invested capital over a three-year period (“performance condition”) and continued employment during the performance period (“service condition”). The total number of shares of common stock that may be earned from the performance condition ranges from zero to 200 % of the RSUs granted. The total number of shares earned from the performance condition may be further increased by 10 % or decreased by 10 % based on the Company’s total shareholder return relative to a peer group during the performance period (“market condition”). The average grant date fair value for these RSUs, with consideration of the market condition, wa s $ 70.77 per unit, which was determined using the Monte Carlo simulation model, applying the following assumptions: Expected volatility (company) 53.0 % Expected volatility (peer group median) 34.6 % Correlation between the Company and peer group median 0.6 Expected dividend yield 0.0 % Risk-free rate 1.7 % The expected volatilities and correlation are based on the historical daily returns of our common stock and the common stocks of the constituents of our peer group over the most recent period equal to the measurement period. The expected dividend yield is based on our history of not paying regular dividends in the past and our current intention to not pay regular dividends in the foreseeable future. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant and has a term equal to the measurement period.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes A reconciliation of the statutory federal income tax rate to our effective rate for continuing operations is provided below: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 2.9 2.9 2.9 2.8 Stock-based compensation windfall benefit 0.0 0.0 ( 0.5 ) ( 0.5 ) Permanent differences and other 0.0 ( 0.4 ) 0.0 ( 0.1 ) 23.9 % 23.5 % 23.4 % 23.2 % We base our estimate of deferred tax assets and liabilities on current tax laws and rates. In certain cases, we also base our estimate on business plan forecasts and other expectations about future outcomes. Changes in existing tax laws or rates could affect our actual tax results, and future business results may affect the amount of our deferred tax liabilities or the valuation of our deferred tax assets over time. Due to uncertainties in the estimation process, particularly with respect to changes in facts and circumstances in future reporting periods, as well as the residential homebuilding industry’s cyclicality and sensitivity to changes in economic conditions, it is possible that actual results could differ from the estimates used in previous analyses. Accounting for deferred taxes is based upon estimates of future results. Differences between the anticipated and actual outcomes of these future results could have a material impact on our consolidated results of operations or financial position.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies As of September 30, 2022, we had outstanding letters of credit totaling $ 129.0 million under our 2026 facility that principally support our self-insurance programs. The Company has a number of known and threatened construction defect legal claims. While these claims are generally covered under the Company’s existing insurance programs to the extent any loss exceeds the deductible, there is a reasonable possibility of loss that is not able to be estimated at this time because (i) many of the proceedings are in the discovery stage, (ii) the outcome of future litigation is uncertain, and/or (iii) the complex nature of the claims. Although the Company cannot estimate a reasonable range of loss based on currently available information, the resolution of these matters could have a material adverse effect on the Company's financial position, results of operations or cash flows. In addition, we are involved in various other claims and lawsuits incidental to the conduct of our business in the ordinary course. We carry insurance coverage in amounts in excess of our self-insured retention that we believe to be reasonable under the circumstances and that may or may not cover any or all of our liabilities in respect of such claims and lawsuits. Although the ultimate disposition of these other proceedings cannot be predicted with certainty, management believes the outcome of any such claims that are pending or threatened, either individually or on a combined basis, will not have a material adverse effect on our consolidated financial position, cash flows or results of operations. However, there can be no assurances that future adverse judgments and costs would not be material to our results of operations or liquidity for a particular period.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions An executive officer of one of our customers, Ashton Woods USA, L.L.C., serves as a member of the Company’s board of directors. Accounts receivable due from and net sales to Ashton Woods USA, L.L.C. were approximately 1 % of our total accounts receivable and our total net sales, respectively, as of September 30, 2022 and December 31, 2021, and for the three and nine months ended September 30, 2022 and 2021. Further, the Company has entered into certain leases of land and buildings with certain employees or non-affiliate stockholders. Activity associated with these related party transactions was not significant as of or for the nine months ended September 30, 2022 or 2021. Transactions between the Company and other related parties occur in the ordinary course of business. However, the Company carefully monitors and assesses related party relationships. Management does not believe that any of these transactions with related parties had a material impact on the Company’s results for the nine months ended September 30, 2022 or 2021 .

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	. Subsequent Events Business Combinations On October 3, 2022, we acquired certain assets and the operations of Pima Door and Supply and Sunrise Carpentry (“Pima”) for $ 9.5 million in cash, subject to certain closing adjustments. Pima produces and installs pre-hung doors and supplies windows, millwork, and trim in the Phoenix, Arizona area. The accounting for this business combination has not been completed at the date of this filing given the proximity of the acquisition date.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Segments	The accounting policies of our operating segments are consistent with the accounting policies described in the Notes to Consolidated Financial Statements included in our Form 10-K. Since the Company operates in one reportable segment, the primary measures reviewed by our CEO, whom we have determined to be our chief operating decision maker, including revenue, gross margin and income before income taxes, are shown in these condensed consolidated financial statements.
Business Combinations	Business Combinations When they meet the requirements under ASC 805, Business Combinations, merger and acquisition transactions are accounted for using the acquisition method, and accordingly the results of operations of the acquiree are included in the Company’s consolidated financial statements from the acquisition date. The consideration transferred is allocated to the identifiable assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with any excess recorded as goodwill. Transaction-related costs are expensed in the period the costs are incurred. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding adjustment to goodwill.
Comprehensive Income	Comprehensive Income Comprehensive income is equal to net income for all periods presented.
Reclassifications	Reclassifications Certain prior periods’ amounts have been reclassified to conform to the current year presentation, including presenting contract assets and contract liabilities separately on the face of the financial statements, whereas these contract assets and contract liabilities had previously been presented as a component of accounts receivable and accrued liabilities, respectively. Reclassifications had no impact on net income, total assets and liabilities, stockholders’ equity, or cash flows as previously reported. We have changed the composition of our product categories, including a decrease to four product categories. As a result of these changes, prior period amounts, as disclosed in Note 3, have been reclassified to conform to the current year presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers which intends to address diversity and inconsistency in the accounting related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. This standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. We have elected to early adopt this guidance effective July 1, 2022, and have determined there is no material impact on our consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The purpose of ASU 2020-04 is to provide optional guidance for a period of time related to accounting for reference rate reform on financial reporting. It is intended to reduce the potential burden of reviewing contract modifications related to discontinued rates. The amendments and optional expedients in this update are effective, as elected, beginning March 12, 2020 through December 31, 2022 and may be elected by topic. We have not elected adoption of this optional guidance and do not intend to elect this guidance before the sunset date of December 31, 2022, as there is no material impact on our consolidated financial statements.
Net Income per Common Share	Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the FASB Accounting Standards Codification, which requires the presentation of basic and diluted EPS. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common shares.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Summary of Aggregate Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed for the acquisitions described above: Total (in thousands) Cash and cash equivalents $ 9,133 Accounts receivable 136,916 Other receivables 1,247 Inventories 70,711 Contract assets 163 Other current assets 4,700 Property, plant and equipment 48,931 Operating lease right-of-use assets 29,724 Goodwill 183,148 Intangible assets 246,400 Total assets $ 731,073 Accounts payable $ 19,864 Accrued liabilities 30,606 Contract liabilities 10,047 Operating lease liabilities 29,724 Long-term debt 2,163 Total liabilities $ 92,404 Total purchase consideration 638,669 Less: accrued contingent consideration and purchase price adjustments ( 9,985 ) Less: cash acquired ( 9,133 ) Total cash consideration, net of cash acquired $ 619,551

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue From Contract With Customer [Abstract]
Schedule of Sales by Product Category	The following table disaggregates our sales by product category: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands) Lumber & lumber sheet goods $ 1,816,347 $ 2,405,840 $ 6,986,993 $ 6,771,227 Manufactured products 1,478,183 1,259,294 4,541,390 3,208,934 Windows, doors & millwork 1,294,099 883,448 3,539,103 2,473,519 Specialty building products & services 1,172,834 960,008 3,301,367 2,805,367 Net sales $ 5,761,463 $ 5,508,590 $ 18,368,853 $ 15,259,047

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted EPS	The table below presents the calculation of basic and diluted EPS: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands, except per share amounts) Numerator: Net income $ 738,007 $ 613,145 $ 2,364,856 $ 1,282,960 Denominator: Weighted average shares outstanding, basic 155,309 204,268 167,522 205,976 Dilutive effect of options and RSUs 1,184 1,362 1,589 1,537 Weighted average shares outstanding, diluted 156,493 205,630 169,111 207,513 Net income per share: Basic $ 4.75 $ 3.00 $ 14.12 $ 6.23 Diluted $ 4.72 $ 2.98 $ 13.98 $ 6.18 Antidilutive and contingent RSUs excluded from diluted EPS 8 220 129 241

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of Goodwill	The following table sets forth the changes in the carrying amount of goodwill: (in thousands) Balance as of December 31, 2021 (1) $ 3,270,192 Acquisitions 183,148 Balance as of September 30, 2022 (1) $ 3,453,340 (1) Goodwill is presented net of historical accumulated impairment losses o f $ 44.6 million.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following table presents intangible assets as of: September 30, 2022 December 31, 2021 Gross Accumulated Amortization Gross Accumulated Amortization (in thousands) Customer relationships $ 2,026,265 $ ( 522,462 ) $ 1,781,264 $ ( 328,540 ) Trade names 201,861 ( 162,395 ) 201,861 ( 155,141 ) Subcontractor relationships 5,440 ( 5,117 ) 5,440 ( 3,757 ) Non-compete agreements 14,919 ( 5,072 ) 13,519 ( 3,243 ) Developed technology 95,600 ( 11,681 ) 95,600 ( 3,594 ) Total intangible assets $ 2,344,085 $ ( 706,727 ) $ 2,097,684 $ ( 494,275 )
Estimated Amortization Expense for Intangible Assets	The following table presents the estimated amortization expense (in thousands) for intangible assets for the years ending December 31: (in thousands) 2022 (from Oct 1, 2022) $ 89,643 2023 323,904 2024 261,946 2025 190,795 2026 166,933 Thereafter 604,137 Total future net intangible amortization expense $ 1,637,358

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Payables And Accruals [Abstract]
Summary of Accrued Liabilities	Accrued liabilities consisted of the following as of: September 30, December 31, (in thousands) Accrued payroll and other employee related expenses $ 492,125 $ 385,800 Accrued business taxes 102,445 81,055 Self-insurance reserves 77,599 68,060 Amounts accrued for repurchases of common stock 41,826 51,545 Accrued rebates payable 48,841 51,805 Accrued interest 24,766 31,666 Other 63,156 48,973 Total accrued liabilities $ 850,758 $ 718,904

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following as of: September 30, December 31, (in thousands) 2026 revolving credit facility (1) $ 450,000 $ 588,000 4.25 % 2032 notes 1,300,000 1,000,000 6.375 % 2032 notes 700,000 — 2030 notes 550,000 550,000 2027 notes — 612,500 Other finance obligations 200,393 202,995 Finance lease obligations 4,765 3,787 3,205,158 2,957,282 Unamortized debt discount/premium and debt issuance costs ( 31,892 ) ( 27,500 ) 3,173,266 2,929,782 Less: current maturities of long-term debt 3,837 3,660 Long-term debt, net of current maturities, discounts and issuance costs $ 3,169,429 $ 2,926,122 (1) The weighted average interest rate was 3.4 % and 2.8 % as of September 30, 2022 and December 31, 2021 , respectively.

Employee Stock-Based Compensa_2

Employee Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Performance Market and Service Condition Based Restricted Stock Unit Grants
Schedule of Share-based Payment Award, Restricted Stock Unit, Valuation Assumptions	The average grant date fair value for these RSUs, with consideration of the market condition, wa s $ 70.77 per unit, which was determined using the Monte Carlo simulation model, applying the following assumptions: Expected volatility (company) 53.0 % Expected volatility (peer group median) 34.6 % Correlation between the Company and peer group median 0.6 Expected dividend yield 0.0 % Risk-free rate 1.7 %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Reconciliation of Statutory Federal Income Tax Rate to Our Effective Rate for Continuing Operations	A reconciliation of the statutory federal income tax rate to our effective rate for continuing operations is provided below: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 2.9 2.9 2.9 2.8 Stock-based compensation windfall benefit 0.0 0.0 ( 0.5 ) ( 0.5 ) Permanent differences and other 0.0 ( 0.4 ) 0.0 ( 0.1 ) 23.9 % 23.5 % 23.4 % 23.2 %

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 Store States
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Entity formed, year	1998
Number of Locations | Store	575
Number of states | States	42

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in Millions	Sep. 01, 2022	Jul. 01, 2022	Apr. 01, 2022
Texas Panel Truss Businesses
Business Acquisition [Line Items]
Consideration transferred			$ 89.1
East Panel Truss Businesses
Business Acquisition [Line Items]
Consideration transferred			79.6
Valley Truss Co., Inc
Business Acquisition [Line Items]
Consideration transferred			$ 31.6
Odds-N-Ends, Inc., d/b/a HomCo Lumber & Hardware
Business Acquisition [Line Items]
Consideration transferred		$ 32.1
Trussway, LLC and its Subsidiaries
Business Acquisition [Line Items]
Consideration transferred	$ 274.8
Fulcrum Building Group Holdings, LLC and its Subsidiaries
Business Acquisition [Line Items]
Consideration transferred	$ 122.3

Business Combinations - Summary

Business Combinations - Summary of Aggregate Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 3,453,340		$ 3,270,192
Total cash consideration, net of cash acquired	619,551	$ 898,113
Texas Panel Truss Businesses East Panel Truss Businesses Valley Truss Co., Inc. Odds-N-Ends, Inc., d/b/a HomCo Lumber & Hardware Trussway, LLC and its Subsidiaries Fulcrum Building Group Holdings, LLC and its Subsidiaries
Business Acquisition [Line Items]
Cash and cash equivalents	9,133
Accounts receivable	136,916
Other receivables	1,247
Inventories	70,711
Contract assets	163
Other current assets	4,700
Property, plant and equipment	48,931
Operating lease right-of-use assets	29,724
Goodwill	183,148
Intangible assets	246,400
Total assets	731,073
Accounts payable	19,864
Accrued liabilities	30,606
Contract liabilities	10,047
Operating lease liabilities	29,724
Long-term debt	2,163
Total liabilities	92,404
Total purchase consideration	638,669
Less: accrued contingent consideration and purchase price adjustments	(9,985)
Less: cash acquired	(9,133)
Total cash consideration, net of cash acquired	$ 619,551

Revenue - Sales by Product Cate

Revenue - Sales by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 5,761,463	$ 5,508,590	$ 18,368,853	$ 15,259,047
Lumber and Lumber Sheet Goods
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	1,816,347	2,405,840	6,986,993	6,771,227
Manufactured Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	1,478,183	1,259,294	4,541,390	3,208,934
Windows, Doors and Millwork
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	1,294,099	883,448	3,539,103	2,473,519
Specialty Building Products & Services
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 1,172,834	$ 960,008	$ 3,301,367	$ 2,805,367

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022
Transferred over Time | Maximum
Disaggregation Of Revenue [Line Items]
Percentage of sales related to contracts with service	10%

Net Income per Common Share - S

Net Income per Common Share - Summary of Calculation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ 738,007	$ 987,209	$ 639,640	$ 613,145	$ 497,235	$ 172,580	$ 2,364,856	$ 1,282,960
Denominator:
Weighted average shares outstanding, basic	155,309			204,268			167,522	205,976
Dilutive effect of options and RSUs	1,184			1,362			1,589	1,537
Weighted average shares outstanding, diluted	156,493			205,630			169,111	207,513
Net income per share:
Basic	$ 4.75			$ 3			$ 14.12	$ 6.23
Diluted	$ 4.72			$ 2.98			$ 13.98	$ 6.18
Antidilutive and contingent RSUs excluded from diluted EPS	8			220			129	241

Goodwill - Schedule of Change i

Goodwill - Schedule of Change in Carrying Amount of Goodwill (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Beginning Balance	$ 3,270,192
Acquisitions	183,148
Goodwill, Ending Balance	$ 3,453,340

Goodwill - Schedule of Change_2

Goodwill - Schedule of Change in Carrying Amount of Goodwill (Parenthetical) (Detail) $ in Millions	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Historical accumulated impairment losses	$ 44.6

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Line Items]
Goodwill recognized from current year acquisitions	$ 183,148
Goodwill amortization period	15 years

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,344,085	$ 2,097,684
Accumulated Amortization	(706,727)	(494,275)
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,026,265	1,781,264
Accumulated Amortization	(522,462)	(328,540)
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	201,861	201,861
Accumulated Amortization	(162,395)	(155,141)
Subcontractor Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,440	5,440
Accumulated Amortization	(5,117)	(3,757)
Non-compete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	14,919	13,519
Accumulated Amortization	(5,072)	(3,243)
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	95,600	95,600
Accumulated Amortization	$ (11,681)	$ (3,594)

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	$ 246.4		$ 246.4
Weighted average useful lives of the acquired intangible assets			5 years 1 month 6 days
Amortization expenses	76.7	$ 92.3	$ 212.5	$ 261.6
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	245		$ 245
Weighted average useful lives of the acquired intangible assets			5 years 1 month 6 days
Non-compete Agreements
Finite-Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	$ 1.4		$ 1.4
Weighted average useful lives of the acquired intangible assets			5 years

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization Expense for Intangible Assets (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (from Oct 1, 2022)	$ 89,643
2023	323,904
2024	261,946
2025	190,795
2026	166,933
Thereafter	604,137
Total future net intangible amortization expense	$ 1,637,358

Accrued Liabilities (Detail)

Accrued Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Summary of accrued liabilities
Accrued payroll and other employee related expenses	$ 492,125	$ 385,800
Accrued business taxes	102,445	81,055
Self-insurance reserves	77,599	68,060
Amounts accrued for repurchases of common stock	41,826	51,545
Accrued rebates payable	48,841	51,805
Accrued interest	24,766	31,666
Other	63,156	48,973
Total accrued liabilities	$ 850,758	$ 718,904

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 15, 2022	Jan. 21, 2022	Dec. 31, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 3,205,158			$ 2,957,282
Unamortized debt discount/premium and debt issuance costs	(31,892)			(27,500)
Long-term debt and capital lease obligation	3,173,266			2,929,782
Less: current maturities of long-term debt	3,837			3,660
Long-term debt, net of current maturities, discounts and issuance costs	3,169,429			2,926,122
2026 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument carrying amount	450,000			588,000
4.25% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount	1,300,000			1,000,000	$ 1,000,000
6.375% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount	700,000	$ 700,000
2030 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	550,000			550,000
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount				612,500
2032 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount			$ 300,000
Other Finance Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	200,393			202,995
Finance Lease Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 4,765			$ 3,787

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Sep. 30, 2022	Dec. 31, 2021
4.25% 2032 notes
Debt Instrument [Line Items]
Weighted average interest rate	4.25%	4.25%
6.375% 2032 notes
Debt Instrument [Line Items]
Weighted average interest rate	6.375%
2026 Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rate	3.40%	2.80%

Long-Term Debt - 2022 Debt Tran

Long-Term Debt - 2022 Debt Transactions - Additional Information (Detail) - USD ($)				3 Months Ended	9 Months Ended
	Jun. 15, 2022	Feb. 04, 2022	Jan. 21, 2022	Jun. 30, 2022	Sep. 30, 2022	Jun. 16, 2022	Mar. 31, 2022	Dec. 31, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Debt instrument carrying amount					$ 3,205,158,000			$ 2,957,282,000
2026 Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument carrying amount					450,000,000			588,000,000
Increase in line of credit facility		$ 400,000,000
Line of credit facility maximum borrowing capacity		1,800,000,000			$ 1,800,000,000
2026 Revolving Credit Facility | Other Assets
Debt Instrument [Line Items]
Debt issuance costs		$ 2,000,000
2026 Revolving Credit Facility | Minimum | SOFR
Debt Instrument [Line Items]
Debt instrument applicable rate		1.35%			1.35%
2026 Revolving Credit Facility | Maximum | SOFR
Debt Instrument [Line Items]
Debt instrument applicable rate		1.60%			1.60%
2032 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount			$ 300,000,000
Private offered aggregate principal amount rate			4.25%				4.25%		4.25%
Net percentage of proceeds from debt issuance			100.50%
Proceeds from issuance of long-term debt			$ 1,500,000
Debt issuance costs			4,400,000
6.375% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 700,000,000				$ 700,000,000
Private offered aggregate principal amount rate	6.375%				6.375%
Net percentage of proceeds from debt issuance	100%
Debt issuance costs	$ 10,400,000
4.25% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount					$ 1,300,000,000			$ 1,000,000,000	$ 1,000,000,000
Debt instrument aggregate principal amount			$ 300,000,000						$ 1,000,000,000
Private offered aggregate principal amount rate			4.25%		4.25%				4.25%
6.75% Senior Secured Notes Due 2027
Debt Instrument [Line Items]
Debt instrument carrying amount						$ 612,500,000
Private offered aggregate principal amount rate						6.75%
2027 notes
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt				$ 27,400,000
Gain (Loss) on repurchase of debt instrument				20,700,000
Write off of unamortized deferred loan cost				$ 6,700,000

Long-Term Debt - 2026 Revolving

Long-Term Debt - 2026 Revolving Credit Facility - Additional Information (Detail) - USD ($)		9 Months Ended
	Feb. 04, 2022	Sep. 30, 2022	Jun. 15, 2022	Jan. 21, 2022	Dec. 31, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Line of credit facility outstanding		$ 3,205,158,000			$ 2,957,282,000
Outstanding letters of credit		129,000,000
2027 Notes
Debt Instrument [Line Items]
Line of credit facility outstanding					612,500,000
2030 Notes
Debt Instrument [Line Items]
Line of credit facility outstanding		$ 550,000,000			550,000,000
Private offered aggregate principal amount rate		5%
4.25% 2032 notes
Debt Instrument [Line Items]
Line of credit facility outstanding		$ 1,300,000,000			1,000,000,000	$ 1,000,000,000
Private offered aggregate principal amount rate		4.25%		4.25%		4.25%
6.375% 2032 notes
Debt Instrument [Line Items]
Line of credit facility outstanding		$ 700,000,000	$ 700,000,000
Private offered aggregate principal amount rate		6.375%	6.375%
2026 Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 1,800,000,000	$ 1,800,000,000
Line of credit facility outstanding		450,000,000			$ 588,000,000
Line of credit facility, excess remaining borrowing capacity		1,200,000,000
Outstanding letters of credit		$ 129,000,000
Line of credit commitment fee percentage		0.20%
Fronting fee per annum		0.125%
Minimum fixed charge ratio		1
Debt instrument, covenant description		In addition, the 2026 facility also contains a financial covenant requiring the satisfaction of a minimum fixed charge ratio of 1.00 to 1.00 if our excess availability falls below the greater of $80.0 million or 10% of the maximum borrowing amount, which was $180.0 million as of September 30, 2022.
Debt instrument minimum excess availability-dollars		$ 80,000,000
Debt instrument minimum excess availability-percentage		10%
Debt instrument covenant maximum borrowing capacity amount		$ 180,000,000
2026 Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rates of outstanding letters of credit		1.25%
2026 Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rates of outstanding letters of credit		1.50%
2026 Revolving Credit Facility | SOFR | Minimum
Debt Instrument [Line Items]
Debt instrument applicable rate	1.35%	1.35%
2026 Revolving Credit Facility | SOFR | Maximum
Debt Instrument [Line Items]
Debt instrument applicable rate	1.60%	1.60%
2026 Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument applicable rate		0.25%
2026 Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument applicable rate		0.50%

Long-Term Debt - Senior Unsecur

Long-Term Debt - Senior Unsecured Notes due 2032 - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Jun. 15, 2022	Mar. 31, 2022	Jan. 21, 2022	Dec. 31, 2021	Jul. 31, 2021
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 3,205,158				$ 2,957,282
2032 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount				$ 300,000
Private offered aggregate principal amount rate			4.25%	4.25%		4.25%
Debt instrument interest rate terms	payable semi-annually on February 1 and August 1 of each year. The 6.375% 2032 notes mature on June 15, 2032, with interest accruing at a rate of 6.375% per annum and interest payable semi-annually on June 15 and December 15 of each year.
Purchase price, Percentage of principal amount	101%
2032 Notes | Redemption Period Within Five Years from Date of Issuance
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	100%
2032 Notes | Redemption Period Within Three Years from Date of Issuance | Maximum
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	40%
4.25% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 1,300,000				$ 1,000,000	$ 1,000,000
Debt instrument aggregate principal amount				$ 300,000		$ 1,000,000
Senior secured term loan maturity date	Feb. 01, 2032
Private offered aggregate principal amount rate	4.25%			4.25%		4.25%
Debt instrument interest rate terms	payable semi-annually on February 1 and August 1 of each year
6.375% 2032 notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 700,000	$ 700,000
Senior secured term loan maturity date	Jun. 15, 2032
Private offered aggregate principal amount rate	6.375%	6.375%
Debt instrument interest rate terms	payable semi-annually on June 15 and December 15 of each year.

Long-Term Debt - Fair Value - A

Long-Term Debt - Fair Value - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 15, 2022	Mar. 31, 2022	Jan. 21, 2022	Jul. 31, 2021
4.25% 2032 notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate	4.25%			4.25%	4.25%
4.25% 2032 notes | Level 2
Debt Instrument [Line Items]
Fair value of long term debt	$ 999.4
6.375% 2032 notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate	6.375%	6.375%
6.375% 2032 notes | Level 2
Debt Instrument [Line Items]
Fair value of long term debt	$ 625.3
2030 Notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate	5%
2030 Notes | Level 2
Debt Instrument [Line Items]
Fair value of long term debt	$ 467.5
2032 Notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate			4.25%	4.25%	4.25%

Employee Stock-Based Compensa_3

Employee Stock-Based Compensation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Time Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	490,700
Weighted average grant date fair value, granted | $ / shares	$ 63.55
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock award vesting percentage	33%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock award vesting percentage	33%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Tranche Three
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock award vesting percentage	33%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting On Second and Third Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	28,400
Stock award vesting percentage	25%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting On Fourth Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock award vesting percentage	50%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting Over Three Years
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	462,300
Performance Market and Service Condition Based Restricted Stock Unit Grants | 2014 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	158,100
Stock award granted vested period	3 years
Weighted average grant date fair value, granted | $ / shares	$ 70.77
Increased percentage of total number of shares of additional common stock earned	10%
Decreased percentage of total number of shares of additional common stock earned	10%
Performance Market and Service Condition Based Restricted Stock Unit Grants | 2014 Incentive Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of number of shares of common stock earned	0%
Performance Market and Service Condition Based Restricted Stock Unit Grants | 2014 Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of number of shares of common stock earned	200%

Employee Stock-Based Compensa_4

Employee Stock-Based Compensation - Restricted Stock Unit Valuation (Detail) - Performance Market and Service Condition Based Restricted Stock Unit Grants	9 Months Ended
	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility (company)	53%
Expected volatility (peer group median)	34.60%
Correlation between the Company and peer group median	0.6
Expected dividend yield	0%
Risk-free rate	1.70%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Our Effective Rate for Continuing Operations (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21%	21%	21%	21%
State income taxes, net of federal income tax	2.90%	2.90%	2.90%	2.80%
Stock-based compensation windfall benefit	0%	0%	(0.50%)	(0.50%)
Permanent differences and other	0%	(0.40%)	0%	(0.10%)
Total effective rate for continuing operations	23.90%	23.50%	23.40%	23.20%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Sep. 30, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 129

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
Percentage of accounts receivable due from and net sales	1%	1%	1%	1%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands		9 Months Ended
	Oct. 03, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Cash consideration paid		$ 619,551	$ 898,113
Subsequent Event | Pima Door and Supply and Sunrise Carpentry
Subsequent Event [Line Items]
Cash consideration paid	$ 9,500