Builders FirstSource (BLDR) 10-Q 5 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 03, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Registrant Name	'Builders FirstSource, Inc.	'
Entity Central Index Key	'0001316835	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	98,145,028

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Sales	$434,907	$402,931	$1,207,359	$1,120,781
Cost of sales	337,260	310,437	940,998	883,708
Gross margin	97,647	92,494	266,361	237,073
Selling, general and administrative expenses	81,963	72,343	227,698	202,432
Facility closure costs	99	-197	290	-86
Income from operations	15,585	20,348	38,373	34,727
Interest expense, net	6,393	7,525	21,725	81,083
Income (loss) from continuing operations before income taxes	9,192	12,823	16,648	-46,356
Income tax expense (benefit)	453	-129	601	586
Income (loss) from continuing operations	8,739	12,952	16,047	-46,942
Loss from discontinued operations (net of income tax expense of $0 in 2014 and 2013)	-235	-158	-318	-278
Net Income (loss)	8,504	12,794	15,729	-47,220
Comprehensive Income (loss)	$8,504	$12,794	$15,729	($47,220)
Basic net income (loss) per share:	'	'	'	'
Income (loss) from continuing operations	$0.09	$0.13	$0.16	($0.49)
Loss from discontinued operations	$0	$0	$0	$0
Net Income (loss)	$0.09	$0.13	$0.16	($0.49)
Diluted net income (loss) per share:	'	'	'	'
Income (loss) from continuing operations	$0.07	$0.13	$0.14	($0.49)
Loss from discontinued operations	$0	$0	$0	$0
Net Income (loss)	$0.07	$0.13	$0.14	($0.49)
Weighted average common shares:	'	'	'	'
Basic	98,104	97,229	98,010	96,314
Diluted	100,360	99,765	100,628	96,314

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Income tax expense on loss from discontinued operations	$0	$0	$0	$0

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$67,770	$54,696
Accounts receivable, less allowance of $3,103 and $3,605 at September 30, 2014 and December 31, 2013, respectively	170,824	143,036
Inventories	134,192	123,636
Other current assets	23,552	9,793
Total current assets	396,338	331,161
Property, plant and equipment, net	62,390	49,392
Goodwill	122,033	111,193
Intangible assets, net	8,772	827
Other assets, net	19,812	23,266
Total assets	609,345	515,839
Current liabilities:	'	'
Accounts payable	97,231	81,046
Accrued liabilities	76,439	45,310
Current maturities of long-term debt	30,072	67
Total current liabilities	203,742	126,423
Long-term debt, net of current maturities	353,849	353,904
Other long-term liabilities	16,518	20,144
Total liabilities	574,109	500,471
Commitments and contingencies (Note 6)	'	'
Stockholders' equity:	'	'
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	'	'
Common stock, $0.01 par value, 200,000 shares authorized; 98,133 and 97,905 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively	981	973
Additional paid-in capital	377,549	373,418
Accumulated deficit	-343,294	-359,023
Total stockholders' equity	35,236	15,368
Total liabilities and stockholders' equity	$609,345	$515,839

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Allowances on trade accounts receivable	$3,103	$3,605
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	200,000,000	200,000,000
Common stock, shares issued	98,133,000	97,905,000
Common stock, shares outstanding	98,133,000	97,905,000

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	$15,729	($47,220)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	6,413	7,341
Amortization and write-off of deferred loan costs	1,816	3,450
Amortization and write-off of debt discount	'	7,794
Fair value adjustment of stock warrants	-1,321	558
Deferred income taxes	361	875
Bad debt expense	-364	866
Net non-cash income from discontinued operations	'	-195
Stock compensation expense	3,910	3,285
Net gain on sale of assets	-119	-167
Changes in assets and liabilities:	'	'
Receivables	-21,651	-47,510
Inventories	-6,595	-16,292
Other current assets	-4,382	-2,028
Other assets and liabilities	-490	-973
Accounts payable	16,185	11,470
Accrued liabilities	21,004	22,574
Net cash provided by (used in) operating activities	30,496	-56,172
Cash flows from investing activities:	'	'
Purchases of property, plant and equipment	-14,522	-9,392
Proceeds from sale of property, plant and equipment	120	1,674
Cash used for acquisitions, net	-33,165	'
Decrease in restricted cash	'	13,030
Net cash provided by (used in) investing activities	-47,567	5,312
Cash flows from financing activities:	'	'
Borrowings under revolving credit facility	30,000	30,000
Payments under revolving credit facility	'	-30,000
Proceeds from issuance of long term debt	'	350,000
Payments of long-term debt and other loans	-50	-364,763
Deferred loan costs	-34	-15,539
Payment of recapitalization costs	'	-37
Exercise of stock options	1,535	1,159
Repurchase of common stock	-1,306	-1,036
Net cash provided by (used in) financing activities	30,145	-30,216
Net change in cash and cash equivalents	13,074	-81,076
Cash and cash equivalents at beginning of period	54,696	131,432
Cash and cash equivalents at end of period	$67,770	$50,356

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2014
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 structural and related building products for residential new construction in 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. All significant intercompany accounts and transactions have been eliminated in consolidation.
	The condensed consolidated balance sheet as of December 31, 2013 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, 2013 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, 2013 included in our most recent annual report on 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.

Net_Income_Loss_per_Common_Sha

Net Income (Loss) per Common Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Net Income (Loss) per Common Share	'
	2. Net Income (Loss) per Common Share
	Net income (loss) per common share (“EPS”) is calculated in accordance with the Earnings per Share topic of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“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.
	Our restricted stock shares include rights to receive dividends that are not subject to the risk of forfeiture even if the underlying restricted stock shares on which the dividends were paid do not vest. In accordance with the Earnings per Share topic of the Codification, unvested share-based payment awards that contain non-forfeitable rights to dividends are deemed participating securities and should be considered in the calculation of basic EPS. Since the restricted stock shares do not include an obligation to share in losses, they will be included in our basic EPS calculation in periods of net income and excluded from our basic EPS calculation in periods of net loss. Accordingly, there were 27,000 restricted stock shares included in our basic EPS calculation for the three and nine months ended September 30, 2014, as we generated net income. There were 0.6 million restricted stock shares included in our basic EPS calculation for the three months ended September 30, 2013, as we generated net income. There were 0.6 million restricted stock shares excluded from the computation of basic EPS for the nine months ended September 30, 2013, because we generated a net loss.
	For the purpose of computing diluted EPS, weighted average shares outstanding have been adjusted for common shares underlying 6.3 million options, 0.7 million warrants and 1.9 million restricted stock units (“RSUs”) for the three and nine months ended September 30, 2014 and 5.1 million options and 1.4 million warrants for the three months ended September 30, 2013. In addition, $1.3 million of income due to fair value adjustments related to the warrants was excluded from net income in the computation of diluted EPS for both the three and nine months ended September 30, 2014. $0.2 million of income due to fair value adjustments on the warrants was excluded from net income in the computation of diluted EPS for the three months ended September 30, 2013. Options to purchase 5.1 million shares of common stock were not included in the computations of diluted EPS for the nine months ended September 30, 2013 because their effect was anti-dilutive. Warrants to purchase 1.4 million shares of common stock were not included in the computation of diluted EPS for the nine months ended September 30, 2013 because their effect was anti-dilutive.
	The table below presents a reconciliation of weighted average common shares used in the calculation of basic and diluted EPS (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average shares for basic EPS		98,104		97,229		98,010		96,314
	Dilutive effect of options, warrants, and RSUs		2,256		2,536		2,618		—
	Weighted average shares for diluted EPS		100,360		99,765		100,628		96,314

Debt

Debt	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	3. Debt
	Long-term debt consisted of the following (in thousands):
		September 30,			December 31,
		2014			2013
	2021 notes	$	350,000		$	350,000
	2013 facility		30,000			−
	Other long-term debt		3,921			3,971
			383,921			353,971
	Less: current portion of long-term debt		30,072			67
	Long-term debt, net of current maturities	$	353,849		$	353,904
	2013 Facility Borrowing
	On July 31, 2014 we borrowed $30.0 million under our $175.0 million senior secured revolving credit facility (“2013 facility”) at an interest rate of 1.98%. Amounts borrowed under our 2013 facility will be used to fund working capital needs and potential future acquisitions.
	Fair Value
	The only financial instrument measured at fair value on a recurring basis was our outstanding warrants.
	The table below presents the effect of our derivative financial instrument on the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30 (in thousands):
	Derivative Not Designated			Amount of Gain (Loss)
	as Hedging Instrument			Recognized in Income
			Location of Gain (Loss)	Three Months Ended						Nine Months Ended
				September 30,						September 30,
			Recognized in Income	2014			2013			2014			2013
	Warrants		Interest expense, net	$	1,340		$	197		$	1,321		$	(558	)
	We use the income approach to value our warrants by using the Black-Scholes option-pricing model. Using this model, the risk-free interest rate is based on the U.S. Treasury yield curve in effect on the valuation date. The expected life is based on the period of time until the expiration of the warrants. Expected volatility is based on the historical volatility of our common stock over the most recent period equal to the expected life of the warrants. 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.
	These techniques incorporate Level 1 and Level 2 inputs. Significant inputs to the derivative valuation for the warrants are observable in the active markets and are classified as Level 2 in the hierarchy.
	The following fair value hierarchy table presents information about our financial instrument measured at fair value on a recurring basis using significant other observable inputs (Level 2) (in thousands):
		Carrying Value			Fair Value			Carrying Value			Fair Value
		As of			Measurement as of			As of			Measurement as of
		September  30,			September  30, 2014			December 31,			December 31, 2013
		2014						2013
	Warrants (included in Other long-term liabilities)	$	2,509		$	2,509		$	3,830		$	3,830
	We have elected to report the value of our 2021 Notes at amortized cost. The fair value of the 2021 Notes at September 30, 2014 was approximately $358.8 million and was determined using Level 2 inputs based on market prices.

Employee_StockBased_Compensati

Employee Stock-Based Compensation	9 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Employee Stock-Based Compensation	'
	4. Employee Stock-Based Compensation
	Stock Option Grant
	On February 11, 2014, our board of directors granted 1,268,000 stock options to employees under our 2007 Incentive Plan and 549,000 stock options to employees under our 2005 Incentive Plan. All the awards vest at 25% per year at each anniversary of the grant date over four years. The exercise price for the options was $7.67 per share, which was the closing stock price on the grant date. The weighted average grant date fair value of the options was $5.71 and was determined using the Black-Scholes option-pricing model with the following weighted average assumptions:
	Expected life	5.8 years
	Expected volatility	92.10%
	Expected dividend yield	0.00%
	Risk-free rate	1.83%
	The expected life represents the period of time the options are expected to be outstanding. We used the simplified method for determining the expected life assumption due to limited historical exercise experience on our stock options. The expected volatility is based on the historical volatility of our common stock over the most recent period equal to the expected life of the option. 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 expected life of the options.
	2014 Incentive Plan
	Under our 2014 Incentive Plan (“2014 Plan”), the Company is authorized to grant awards in the form of incentive stock options, non-qualified stock options, restricted stock shares, restricted stock units, other common stock-based awards and cash-based awards. The maximum number of common shares reserved for the grant of awards under the 2014 Plan is 5.0 million, subject to adjustment as provided by the 2014 Plan. All 5.0 million shares under the Plan may be made subject to options, stock appreciation rights (“SARs”), or stock-based awards.  Stock options and SARs granted under the 2014 Plan may not have a term exceeding 10 years from the date of grant. The 2014 Plan also provides that all awards will become fully vested and/or exercisable upon a change in control (as defined in the 2014 Plan) if those awards (i) are not assumed or equitably substituted by the surviving entity or (ii) have been assumed or equitably substituted by the surviving entity, and the grantee’s employment is terminated under certain circumstances. Other specific terms for awards granted under the 2014 Plan shall be determined by our Compensation Committee (or the board of directors if so determined by the board of directors). Awards granted under the 2014 Plan generally vest ratably over a four year period. As of September 30, 2014, 3.7 million shares were available for issuance under the 2014 Plan.
	Restricted Stock Units Grant
	On June 16, 2014, our board of directors granted 1,303,000 RSUs to employees under our 2014 Incentive Plan and 513,000 RSUs to employees under our 2007 Incentive Plan. All of the awards vest at 25% per year and vesting will coincide with the vesting of the stock options granted on February 11, 2014 over the next four years. The grant date fair value for the restricted stock units was $7.52 per share, which was the closing stock price on the grant date.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	5. Income Taxes
	In accordance with the Income Taxes topic of the Codification, we evaluate our deferred tax assets quarterly to determine if a valuation allowance is required. The Income Taxes topic requires that companies assess whether valuation allowances should be established based on the consideration of all available evidence. During the three and nine months ended September 30, 2014, we recorded net reductions to the valuation allowance of $3.3 million and $6.3 million against our net deferred tax assets as we generated net income during these periods. During the three months ended September 30, 2013 we recorded a net reduction to the valuation allowance of $3.4 million against our net deferred tax assets as we generated net income during this period. During the nine months ended September 30, 2013, we recorded an increase to the valuation allowance of $17.9 million against the net deferred tax assets generated from the net operating loss from continuing operations.
	To the extent we generate sufficient taxable income in the future to fully utilize the tax benefits of the net deferred tax assets on which a valuation allowance is recorded, our effective tax rate may decrease as the valuation allowance is reversed. However, to the extent we generate future operating losses, we would be required to increase the valuation allowance on our net deferred tax assets and our income tax expense will be adversely affected.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	6. Commitments and Contingencies
	We are a party to various legal proceedings in the ordinary course of business. Although the ultimate disposition of these proceedings cannot be predicted with certainty, management believes the outcome of any claim that is 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 costs related to legal proceedings would not be material to our results of operations or liquidity for a particular period.

Segment_and_Product_Informatio

Segment and Product Information	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment and Product Information	'
	7. Segment and Product Information
	We offer an integrated solution to our customers providing manufacturing, supply, and installation of a full range of structural and related building products. We provide a wide variety of building products and services directly to homebuilder customers. We manufacture floor trusses, roof trusses, wall panels, stairs, millwork, windows, and doors. We also provide a full range of construction services. We group our building products and services into five product categories: prefabricated components, windows & doors, lumber & lumber sheet goods, millwork, and other building products & services. We have one operating segment with centralized financial and operational oversight.
	Sales by product category for the three and nine month periods ended September 30, 2014 and 2013 were as follows (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Prefabricated components	$	90,224	$	82,955	$	251,736	$	221,981
	Windows & doors		97,744		84,436		264,862		225,831
	Lumber & lumber sheet goods		141,646		137,514		401,088		403,593
	Millwork		42,659		37,434		116,200		101,672
	Other building products & services		62,634		60,592		173,473		167,704
	Sales	$	434,907	$	402,931	$	1,207,359	$	1,120,781

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Acquisition	'
	8. Acquisitions
	On June 30, 2014 the Company acquired certain assets and the operations of Slone Lumber Company, Inc. (“Slone”) for cash consideration of $8.7 million (including certain adjustments). Based in Houston, Texas, Slone is a full-line building materials supplier. Slone’s product offerings include lumber, engineered beams, interior and exterior door units, moulding, trim, and cabinets. Slone also offers installation services on exterior doors, shutters, and cabinets.
	On July 31, 2014 the Company acquired certain assets and the operations of West Orange Lumber Company, Inc. (“West Orange”) for cash consideration of $9.8 million (including certain adjustments). Based in Groveland, Florida, West Orange supplies lumber, roof and floor trusses, custom windows and doors, as well as installation services, to both residential homebuilders and commercial contractors in the Central Florida region.
	On August 6, 2014 the Company acquired certain assets and the operations of Truss Rite, LLC (“Truss Rite”) for cash consideration of $14.7 million (including certain adjustments). Based in Sherman, Texas Truss Rite primarily manufactures wood roof and floor trusses for large multifamily and commercial projects throughout Texas and parts of Oklahoma. Truss Rite predominately serves developers and general contractors in the multifamily residential housing sector.
	These transactions were accounted for by the acquisition method, and accordingly the results of operations will be included in the Company’s consolidated financial statements from their respective acquisition dates. The purchase price was allocated to the assets acquired 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 allocations shown in the table below are preliminary and are subject to adjustment. Pro forma results of operations are not presented as these acquisitions are not material individually or in the aggregate.
	We incurred $0.2 million in acquisition related costs during the three and nine months ended September 30, 2014. These costs include due diligence costs and transaction costs to complete the acquisitions, and have been recognized in selling, general and administrative expense in the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2014.
	The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed at the acquisition dates for Slone, West Orange, and Truss Rite (in thousands):
	Accounts Receivable	$	5,774
	Inventory		3,961
	Property, plant and equipment		4,407
	Other intangible assets (Note 10)		8,426
	Other assets		15
	Goodwill (Note 9)		10,840
	Current liabilities		(258	)
	Total net assets acquired	$	33,165

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Goodwill	'
	9. Goodwill
	The following table sets forth the change in the carrying amount of goodwill for the Company in 2014 (in thousands):
			2014
	Balance as of  January 1,
	Goodwill	$	155,829
	Accumulated impairment losses		(44,636	)
			111,193
	Acquisitions and other purchase price adjustments		10,840
	Balance as of September 30,
	Goodwill	$	166,669
	Accumulated impairment losses		(44,636	)
		$	122,033
	In 2014 the change in the carrying amount of goodwill is attributable to our acquisitions of Slone, West Orange, and Truss Rite. There were no changes to the carrying amount of goodwill in 2013. The amount allocated to goodwill is attributable to the assembled workforce of the acquired companies as well as the synergies expected to arise as a result of these acquisitions. All of the goodwill recognized from these acquisitions is expected to be deductible for tax purposes. The goodwill recognized from these acquisitions will be amortized ratably over a 15 year period for tax purposes.

Intangible_Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Intangible Assets	'
	10. Intangible Assets
	The following table presents intangible assets as of:
		30-Sep-14					31-Dec-13
		Gross		Accumulated			Gross		Accumulated
		Carrying		Amortization			Carrying		Amortization
		Amount					Amount
		(In thousands)
	Customer relationships	$	10,616	$	(2,932	)	$	3,334	$	(2,507	)
	Non-compete agreements		284		(23	)		−		−
	Trade names		860		(33	)		−		−
	Total intangible assets	$	11,760	$	(2,988	)	$	3,334	$	(2,507	)
	In connection with the acquisitions of Slone, West Orange, and Truss Rite, we recorded intangible assets of $8.4 million, which includes $0.9 million of trade names, $0.3 million of non-compete agreements and $7.2 million of customer relationships. The weighted average useful lives of the acquired assets are 5.0 years for trade names and non-compete agreements, and 10.6 years for customer relationships.
	During the three and nine months ended September 30, 2014 we recorded amortization expense in relation to the above-listed intangible assets of $0.3 million and $0.5 million, respectively. During the three and nine months ended September 30, 2013 we recorded amortization expense of $0.1 million and $0.3 million, respectively.  The following table presents the estimated amortization expense for these intangible assets for the years ending December 31 (in thousands):
	2014 (from October 1, 2014)	$	348
	2015		1,329
	2016		1,210
	2017		1,042
	2018		1,042

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2014
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]	'
Recent Accounting Pronouncements	'
	In August 2014, the FASB issued an update to the existing guidance under the Presentation of Financial Statements topic of the Codification. This update requires management to perform interim and annual assessments on whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year of the date the financial statements are issued and to provide related disclosures, if required. This new guidance is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted, but not required. We are currently evaluating the impact of this guidance on our financial statements.
	In May 2014, the FASB issued an update to the existing guidance under the Revenue Recognition topic of the Codification which is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  This new guidance is effective for annual reporting periods beginning after December 15, 2016. Accordingly, we will adopt this guidance beginning January 1, 2017.  Early adoption of this guidance is not permitted.  This guidance allows either full retrospective or modified retrospective methods of adoption. We are currently evaluating the impact of this guidance on our financial statements.
	In April 2014, the FASB issued an update to the existing guidance under the Presentation of Financial Statements and Property, Plant, and Equipment topics of the Codification. This update changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the previous guidance any component of an entity that was a reportable segment, an operating segment, a reporting unit, a subsidiary, or an asset group was eligible for discontinued operations presentation. The revised guidance only allows disposals of components of entity that represent a strategic shift that has, or will have, a major effect on an entity’s operations and financial results to be presented as a discontinued operation. This update is effective for fiscal years, and interim periods beginning after December 15, 2014. Early adoption is permitted, but not required. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. We do not currently expect that the adoption of this update will have an impact on our financial statements

Subsequent_Event

Subsequent Event	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Event	'
	12. Subsequent Event
	On October 1, 2014 the Company acquired certain assets and the operations of Trim Tech of Austin, Inc. (“Trim Tech”) using cash on hand of $19.4 million (including certain adjustments). Trim Tech is based in Hutto, Texas, which is approximately 30 miles north of downtown Austin. Trim Tech is a turn-key supplier of custom cabinets, interior and exterior doors, stair parts, and custom millwork and molding.
	This transaction will be accounted for by the acquisition method, and accordingly the results of operations will be included in the Company’s consolidated financial statements from the acquisition date. The purchase price will be allocated to the assets acquired 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 accounting for this acquisition has not been completed at the date of this filing given the proximity to the acquisition date.

Recovered_Sheet1

Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Reconciliation of Weighted Average Common Shares Used in Calculation of Basic and Diluted EPS	'
	The table below presents a reconciliation of weighted average common shares used in the calculation of basic and diluted EPS (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average shares for basic EPS		98,104		97,229		98,010		96,314
	Dilutive effect of options, warrants, and RSUs		2,256		2,536		2,618		—
	Weighted average shares for diluted EPS		100,360		99,765		100,628		96,314

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Long-Term Debt	'
	Long-term debt consisted of the following (in thousands):
		September 30,			December 31,
		2014			2013
	2021 notes	$	350,000		$	350,000
	2013 facility		30,000			−
	Other long-term debt		3,921			3,971
			383,921			353,971
	Less: current portion of long-term debt		30,072			67
	Long-term debt, net of current maturities	$	353,849		$	353,904
Effect of Derivative Financial Instrument on Condensed Consolidated Statements of Operations and Comprehensive Loss	'
	The table below presents the effect of our derivative financial instrument on the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30 (in thousands):
	Derivative Not Designated			Amount of Gain (Loss)
	as Hedging Instrument			Recognized in Income
			Location of Gain (Loss)	Three Months Ended						Nine Months Ended
				September 30,						September 30,
			Recognized in Income	2014			2013			2014			2013
	Warrants		Interest expense, net	$	1,340		$	197		$	1,321		$	(558	)
Fair Value Hierarchy Table on Recurring Basis (Level 2)	'
	The following fair value hierarchy table presents information about our financial instrument measured at fair value on a recurring basis using significant other observable inputs (Level 2) (in thousands):
		Carrying Value			Fair Value			Carrying Value			Fair Value
		As of			Measurement as of			As of			Measurement as of
		September  30,			September  30, 2014			December 31,			December 31, 2013
		2014						2013
	Warrants (included in Other long-term liabilities)	$	2,509		$	2,509		$	3,830		$	3,830

Employee_StockBased_Compensati1

Employee Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	'
	The weighted average grant date fair value of the options was $5.71 and was determined using the Black-Scholes option-pricing model with the following weighted average assumptions:
	Expected life	5.8 years
	Expected volatility	92.10%
	Expected dividend yield	0.00%
	Risk-free rate	1.83%

Segment_and_Product_Informatio1

Segment and Product Information (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information by Product Category	'
	Sales by product category for the three and nine month periods ended September 30, 2014 and 2013 were as follows (in thousands):
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Prefabricated components	$	90,224	$	82,955	$	251,736	$	221,981
	Windows & doors		97,744		84,436		264,862		225,831
	Lumber & lumber sheet goods		141,646		137,514		401,088		403,593
	Millwork		42,659		37,434		116,200		101,672
	Other building products & services		62,634		60,592		173,473		167,704
	Sales	$	434,907	$	402,931	$	1,207,359	$	1,120,781

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2014
Business Combinations [Abstract]	'
Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Dates	'
	The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed at the acquisition dates for Slone, West Orange, and Truss Rite (in thousands):
	Accounts Receivable	$	5,774
	Inventory		3,961
	Property, plant and equipment		4,407
	Other intangible assets (Note 10)		8,426
	Other assets		15
	Goodwill (Note 9)		10,840
	Current liabilities		(258	)
	Total net assets acquired	$	33,165

Goodwill_Tables

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Schedule of Change in the Carrying Amount of Goodwill	'
	The following table sets forth the change in the carrying amount of goodwill for the Company in 2014 (in thousands):
			2014
	Balance as of  January 1,
	Goodwill	$	155,829
	Accumulated impairment losses		(44,636	)
			111,193
	Acquisitions and other purchase price adjustments		10,840
	Balance as of September 30,
	Goodwill	$	166,669
	Accumulated impairment losses		(44,636	)
		$	122,033

Intangible_Assets_Tables

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Summary of Intangible Assets	'
	The following table presents intangible assets as of:
		30-Sep-14					31-Dec-13
		Gross		Accumulated			Gross		Accumulated
		Carrying		Amortization			Carrying		Amortization
		Amount					Amount
		(In thousands)
	Customer relationships	$	10,616	$	(2,932	)	$	3,334	$	(2,507	)
	Non-compete agreements		284		(23	)		−		−
	Trade names		860		(33	)		−		−
	Total intangible assets	$	11,760	$	(2,988	)	$	3,334	$	(2,507	)
Estimated Amortization Expense for Intangible Assets	'
	During the three and nine months ended September 30, 2014 we recorded amortization expense in relation to the above-listed intangible assets of $0.3 million and $0.5 million, respectively. During the three and nine months ended September 30, 2013 we recorded amortization expense of $0.1 million and $0.3 million, respectively.  The following table presents the estimated amortization expense for these intangible assets for the years ending December 31 (in thousands):
	2014 (from October 1, 2014)	$	348
	2015		1,329
	2016		1,210
	2017		1,042
	2018		1,042

Net_Income_Loss_Per_Common_Sha1

Net Income (Loss) Per Common Share - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Warrant	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from the computations of EPS	'	'	'	1,400,000
Income due to fair value adjustments related to warrants excluded from the computations of EPS	$1,300	$200	$1,300	'
Securities included in the computation of diluted EPS	700,000	1,400,000	700,000	'
Restricted Stock	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Restricted stock shares included in the computations of basic EPS	27,000	600,000	27,000	'
Shares excluded from the computations of EPS	'	'	'	600,000
Stock Options	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Shares excluded from the computations of EPS	'	'	'	5,100,000
Securities included in the computation of diluted EPS	6,300,000	5,100,000	6,300,000	'
Restricted Stock Units (RSUs)	'	'	'	'
Earnings Per Share [Line Items]	'	'	'	'
Securities included in the computation of diluted EPS	1,900,000	'	1,900,000	'

Net_Income_Loss_Per_Common_Sha2

Net Income (Loss) Per Common Share - Reconciliation of Weighted Average Common Shares Used in Calculation of Basic and Diluted EPS (Detail)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Weighted average common shares:	'	'	'	'
Weighted average shares for basic EPS	98,104	97,229	98,010	96,314
Dilutive effect of options, warrants, and RSUs	2,256	2,536	2,618	'
Weighted average shares for diluted EPS	100,360	99,765	100,628	96,314

Debt_LongTerm_Debt_Detail

Debt - Long-Term Debt (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'	'
Long-term debt	$383,921	$353,971
Less: current portion of long-term debt	30,072	67
Long-term debt, net of current maturities	353,849	353,904
2021 Notes	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	350,000	350,000
Other Long-Term Debt	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	3,921	3,971
2013 Facility	'	'
Debt Instrument [Line Items]	'	'
Long-term debt	$30,000	'

Debt_Additional_Information_De

Debt - Additional Information (Detail) (USD $)	Sep. 30, 2014	Jul. 31, 2014
In Millions, unless otherwise specified	2021 Notes	2013 Facility
	Level 2
Debt Instrument [Line Items]	'	'
Line of credit facility outstanding	'	$30
Line of credit facility maximum borrowing capacity	'	175
Line of credit facility interest rate	'	1.98%
Fair value of the notes	$358.80	'

Debt_Effect_of_Derivative_Fina

Debt - Effect of Derivative Financial Instrument on Condensed Consolidated Statements of Operations and Comprehensive Loss (Detail) (Warrant, USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Gain (loss) recognized in income	$1,300	$200	$1,300	'
Interest Expense	'	'	'	'
Derivative Instruments Gain Loss [Line Items]	'	'	'	'
Gain (loss) recognized in income	$1,340	$197	$1,321	($558)

Debt_Fair_Value_Hierarchy_Tabl

Debt - Fair Value Hierarchy Table on Recurring Basis (Level 2) (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Other long-term liabilities	$16,518	$20,144
Carrying Value | Warrant | Fair Value, Measurements, Recurring	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Other long-term liabilities	2,509	3,830
Fair Value Measurement | Warrant | Level 2 | Fair Value, Measurements, Recurring	'	'
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]	'	'
Other long-term liabilities	$2,509	$3,830

Employee_StockBased_Compensati2

Employee Stock-Based Compensation - Additional Information (Detail) (USD $)	0 Months Ended					9 Months Ended	0 Months Ended
	Feb. 11, 2014	Jun. 16, 2014	Feb. 11, 2014	Jun. 16, 2014	Feb. 11, 2014	Sep. 30, 2014	Jun. 16, 2014
		Restricted Stock Units (RSUs)	2007 Incentive Plan	2007 Incentive Plan	2005 Incentive Plan	2014 Incentive Plan	2014 Incentive Plan
				Restricted Stock Units (RSUs)			Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'	'	'	'	'	'	'
Options, Granted	'	'	1,268,000	'	549,000	'	'
Stock award vesting percentage	25.00%	25.00%	'	'	'	'	'
Stock award granted vested period	'4 years	'4 years	'	'	'	'4 years	'
Exercise Price for the options on the grant date	$7.67	'	'	'	'	'	'
Fair Value for the options on the grant date	$5.71	'	'	'	'	'	'
Number of shares reserved for share based compensation award	'	'	'	'	'	5,000,000	'
Maximum number of shares granted for stock option and stock appreciation right	'	'	'	'	'	5,000,000	'
Stock options granted term	'	'	'	'	'	'10 years	'
Shares available for issuance	'	'	'	'	'	3,700,000	'
Restricted stock units, granted	'	'	'	513,000	'	'	1,303,000
Grant date fair value for restricted stock units	'	$7.52	'	'	'	'	'

Employee_StockBased_Compensati3

Employee Stock-Based Compensation - Stock Option Valuation (Detail)	9 Months Ended
	Sep. 30, 2014
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract]	'
Expected life	'5 years 9 months 18 days
Expected volatility	92.10%
Expected dividend yield	0.00%
Risk-free rate	1.83%

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Valuation allowance related to net deferred tax	($3.30)	($3.40)	($6.30)	$17.90

Segment_and_Product_Informatio2

Segment and Product Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
	Segment
	Category
Segment Reporting [Abstract]	'
Building products and services categories	5
Number of operating segment	1

Segment_and_Product_Informatio3

Segment and Product Information - Segment Reporting Information by Product Category (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	$434,907	$402,931	$1,207,359	$1,120,781
Prefabricated Components	'	'	'	'
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	90,224	82,955	251,736	221,981
Windows And Doors	'	'	'	'
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	97,744	84,436	264,862	225,831
Lumber And Lumber Sheet Goods	'	'	'	'
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	141,646	137,514	401,088	403,593
Millwork	'	'	'	'
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	42,659	37,434	116,200	101,672
Other Building Products And Services	'	'	'	'
Entity Wide Information Revenue From External Customer [Line Items]	'	'	'	'
Sales	$62,634	$60,592	$173,473	$167,704

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (USD $)	3 Months Ended	9 Months Ended	0 Months Ended	9 Months Ended	0 Months Ended	9 Months Ended	0 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Jul. 31, 2014	Sep. 30, 2014	Aug. 06, 2014	Sep. 30, 2014
	Selling, General and Administrative Expense	Selling, General and Administrative Expense	Slone Lumber Company	Slone Lumber Company	West Orange Lumber Company	West Orange Lumber Company	Truss Rite, LLC	Truss Rite, LLC
Business Acquisition [Line Items]	'	'	'	'	'	'	'	'
Cash consideration for certain assets acquired	'	'	$8.70	'	$9.80	'	$14.70	'
Date of acquisition	'	'	'	30-Jun-14	'	31-Jul-14	'	6-Aug-14
Acquisition related costs	$0.20	$0.20	'	'	'	'	'	'

Acquisitions_Fair_Values_of_As

Acquisitions - Fair Values of Assets Acquired and Liabilities Assumed at Acquisition Dates (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Business Acquisition [Line Items]	'	'
Goodwill	$122,033	$111,193
Series of Individually Immaterial Business Acquisitions	'	'
Business Acquisition [Line Items]	'	'
Accounts Receivable	5,774	'
Inventory	3,961	'
Property, plant and equipment	4,407	'
Other intangible assets (Note 10)	8,426	'
Other assets	15	'
Goodwill	10,840	'
Current liabilities	-258	'
Total net assets acquired	$33,165	'

Goodwill_Schedule_of_Change_in

Goodwill - Schedule of Change in the Carrying Amount of Goodwill (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Goodwill And Intangible Assets Disclosure [Abstract]	'
Goodwill	$155,829
Accumulated impairment losses	-44,636
Goodwill, net	111,193
Acquisitions and other purchase price adjustments	10,840
Goodwill	166,669
Accumulated impairment losses	-44,636
Goodwill, net	$122,033

Goodwill_Additional_Informatio

Goodwill - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Goodwill And Intangible Assets Disclosure [Abstract]	'	'
Changes in the carrying amount of goodwill	'	$0
Amortization period of acquired goodwill for tax purpose	'15 years	'

Intangible_Assets_Summary_of_I

Intangible Assets - Summary of Intangible Assets (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finite Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	$11,760	$3,334
Accumulated Amortization	-2,988	-2,507
Customer Relationships	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	10,616	3,334
Accumulated Amortization	-2,932	-2,507
Noncompete Agreements	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	284	'
Accumulated Amortization	-23	'
Trade Names	'	'
Finite Lived Intangible Assets [Line Items]	'	'
Gross Carrying Amount	860	'
Accumulated Amortization	($33)	'

Intangible_Assets_Additional_I

Intangible Assets - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Amortization Expenses	$300,000	$100,000	$500,000	$300,000
Trade Names	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Weighted average useful lives of acquired assets	'	'	'5 years	'
Noncompete Agreements	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Weighted average useful lives of acquired assets	'	'	'5 years	'
Customer Relationships	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Weighted average useful lives of acquired assets	'	'	'10 years 7 months 6 days	'
Series of Individually Immaterial Business Acquisitions	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Intangible assets	8,426,000	'	8,426,000	'
Series of Individually Immaterial Business Acquisitions | Trade Names	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Intangible assets	900,000	'	900,000	'
Series of Individually Immaterial Business Acquisitions | Noncompete Agreements	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Intangible assets	300,000	'	300,000	'
Series of Individually Immaterial Business Acquisitions | Customer Relationships	'	'	'	'
Finite Lived Intangible Assets [Line Items]	'	'	'	'
Intangible assets	$7,200,000	'	$7,200,000	'

Intangible_Assets_Estimated_Am

Intangible Assets - Estimated Amortization Expense for Intangible Assets (Detail) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Goodwill And Intangible Assets Disclosure [Abstract]	'
2014 (from October 1, 2014)	$348
2015	1,329
2016	1,210
2017	1,042
2018	$1,042

Subsequent_Event_Additional_In

Subsequent Event - Additional Information (Detail) (Subsequent Event, Trim Tech of Austin, USD $)	0 Months Ended
In Millions, unless otherwise specified	Oct. 01, 2014
Subsequent Event | Trim Tech of Austin	'
Subsequent Event [Line Items]	'
Cash on hand used to acquire certain assets	$19.40