Builders FirstSource (BLDR) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	BLDR
Entity Registrant Name	Builders FirstSource, Inc.
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
Entity Common Stock, Shares Outstanding		115,607,363

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Sales	$ 1,631,300	$ 1,700,436
Cost of sales	1,189,325	1,289,384
Gross margin	441,975	411,052
Selling, general and administrative expenses	370,084	358,908
Income from operations	71,891	52,144
Interest expense, net	24,901	26,742
Income before income taxes	46,990	25,402
Income tax expense	11,282	2,182
Net income	35,708	23,220
Comprehensive income	$ 35,708	$ 23,220
Net income per share:
Basic	$ 0.31	$ 0.20
Diluted	$ 0.31	$ 0.20
Weighted average common shares:
Basic	115,425	114,090
Diluted	116,531	116,696

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 11,724	$ 10,127
Accounts receivable, less allowances of $13,004 and $13,054 at March 31, 2019 and December 31, 2018, respectively	648,942	654,170
Other receivables	50,833	68,637
Inventories, net	635,499	596,896
Other current assets	38,756	43,921
Total current assets	1,385,754	1,373,751
Property, plant and equipment, net	669,055	670,075
Operating lease right-of-use assets, net	269,640
Goodwill	740,411	740,411
Intangible assets, net	99,286	103,154
Deferred income taxes	13,128	22,766
Other assets, net	22,191	22,152
Total assets	3,199,465	2,932,309
Current liabilities:
Accounts payable	471,338	423,168
Accrued liabilities	189,237	292,526
Current portion of operating lease liabilities	60,291
Current maturities of long-term debt	17,045	15,565
Total current liabilities	737,911	731,259
Noncurrent portion of operating lease liabilities	213,841
Long-term debt, net of current maturities, debt discount, and debt issuance costs	1,562,085	1,545,729
Other long-term liabilities	53,157	58,983
Total liabilities	2,566,994	2,335,971
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.01 par value, 10,000 shares authorized; zero shares issued and outstanding
Common stock, $0.01 par value, 200,000 shares authorized; 115,603 and 115,078 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively	1,156	1,151
Additional paid-in capital	560,641	560,221
Retained earnings	70,674	34,966
Total stockholders' equity	632,471	596,338
Total liabilities and stockholders' equity	$ 3,199,465	$ 2,932,309

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowances on trade accounts receivable	$ 13,004	$ 13,054
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	115,603,000	115,078,000
Common stock, shares outstanding	115,603,000	115,078,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 35,708	$ 23,220
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	23,576	22,819
Amortization of debt issuance costs and debt discount	1,149	1,149
Gain on extinguishment of debt	(680)
Deferred income taxes	9,638	1,497
Stock compensation expense	2,659	2,890
Gain on sale of assets	(464)	(245)
Changes in assets and liabilities:
Receivables	22,703	(57,132)
Inventories	(38,603)	(85,958)
Other current assets	4,732	(9,481)
Other assets and liabilities	(1,319)	1,552
Accounts payable	47,371	4,376
Accrued liabilities	(100,395)	(83,012)
Net cash provided by (used in) operating activities	6,075	(178,325)
Cash flows from investing activities:
Purchases of property, plant and equipment	(21,524)	(20,113)
Proceeds from sale of property, plant and equipment	720	568
Net cash used in investing activities	(20,804)	(19,545)
Cash flows from financing activities:
Borrowings under revolving credit facility	374,000	555,000
Repayments under revolving credit facility	(331,000)	(399,000)
Repayments of long-term debt and other loans	(24,440)	(2,780)
Exercise of stock options	216	2,041
Repurchase of common stock	(2,450)	(4,855)
Net cash provided by financing activities	16,326	150,406
Net change in cash and cash equivalents	1,597	(47,464)
Cash and cash equivalents at beginning of period	10,127	57,533
Cash and cash equivalents at end of period	$ 11,724	$ 10,069

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Cash Flows [Abstract]
Purchases of property, plant and equipment included in accounts payable	$ 1.9	$ 3.2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings (Accumulated Deficit)
Balance at Dec. 31, 2017	$ 376,209	$ 1,136	$ 546,766	$ (171,693)
Balance, shares at Dec. 31, 2017		113,572
Vesting of restricted stock units		$ 7	(7)
Vesting of restricted stock units, shares		766
Stock compensation expense	2,890		2,890
Exercise of stock options	2,041	$ 5	2,036
Exercise of stock options, shares		517
Repurchase of common stock	(4,855)	$ (2)	(4,853)
Repurchase of common stock, shares		(236)
Cumulative effect adjustment	1,468			1,468
Net income	23,220			23,220
Balance at Mar. 31, 2018	400,973	$ 1,146	546,832	(147,005)
Balance, shares at Mar. 31, 2018		114,619
Balance at Dec. 31, 2018	$ 596,338	$ 1,151	560,221	34,966
Balance, shares at Dec. 31, 2018	115,078	115,078
Vesting of restricted stock units		$ 7	(7)
Vesting of restricted stock units, shares		662
Stock compensation expense	$ 2,659		2,659
Exercise of stock options	216		216
Exercise of stock options, shares		59
Repurchase of common stock	(2,450)	$ (2)	(2,448)
Repurchase of common stock, shares		(196)
Net income	35,708			35,708
Balance at Mar. 31, 2019	$ 632,471	$ 1,156	$ 560,641	$ 70,674
Balance, shares at Mar. 31, 2019	115,603	115,603

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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 400 locations in 39 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, 2018 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, 2018 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, 2018 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, except as noted below relating to the adoption of updated guidance under the Leases Recent Accounting Pronouncements In June 2016, the FASB issued an update to existing guidance under the Investments In February 2016, the FASB issued an update to the existing guidance under the Leases We adopted this guidance on January 1, 2019 by applying the provisions of this guidance on a modified retrospective basis as of the effective date. As such, comparative periods have not been restated and the disclosures required under the new standard have not been provided for periods prior to January 1, 2019. We elected the package of practical expedients whereby we were not required to: i) reassess whether any expired or existing contracts are or contain leases, ii) reassess the lease classification of existing leases and iii) reassess initial direct costs for any existing leases. We did not elect the hindsight practical expedient or the practical expedient related to land easements. We have assessed and updated our business processes, systems and controls to ensure compliance with the recognition and disclosure requirements of the new standard. Adoption of the new standard resulted in the recording of right-of-use assets and lease liabilities of $269.7 million and $267.5 million, respectively as of January 1, 2019 to recognize operating leases, primarily related to real estate and rolling stock, which were not recognized on our balance sheet under previous guidance. Further, the adoption of this guidance had no impact to our remaining other finance obligations as they continue to fail to meet the sale-leaseback requirements of the new standard. The adoption of this guidance did not have a material impact on our condensed consolidated statement of operations and comprehensive income or on our condensed consolidated statement of cash flows as our leases retained their classifications as determined under previous guidance.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue	2. Revenue The following table disaggregates our sales by product category (in thousands): Three Months Ended March 31, 2019 2018 Lumber & lumber sheet goods $ 517,689 $ 643,909 Manufactured products 317,352 294,178 Windows, doors & millwork 353,390 332,152 Gypsum, roofing & insulation 120,919 112,876 Siding, metal & concrete products 149,918 142,163 Other building products & services 172,032 175,158 Net sales $ 1,631,300 $ 1,700,436 Information regarding disaggregation of sales by segment is discussed in Note 10 to the condensed consolidated financial statements. Sales related to contracts with service elements represents less than 10% of the Company’s net sales for each period presented. The timing of revenue recognition, billings and cash collections results in accounts receivable, unbilled receivables, contract assets and contract liabilities. Contract asset balances were not significant as of March 31, 2019 or December 31, 2018. Contract liabilities consist of deferred revenue and customer advances and deposits. Contract liability balances are included in accrued liabilities on our consolidated balance sheet and were $42.9 million and $ 42.1

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Income per Common Share	3. Net Income per Common Share Net income per common share (“EPS”) is calculated in accordance with the Earnings per Share The table below presents the calculation of basic and diluted EPS (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Numerator: Net income $ 35,708 $ 23,220 Denominator: Weighted average shares outstanding, basic 115,425 114,090 Dilutive effect of options and RSUs 1,106 2,606 Weighted average shares outstanding, diluted 116,531 116,696 Net income per share: Basic $ 0.31 $ 0.20 Diluted $ 0.31 $ 0.20 Antidilutive and contingent options and RSUs excluded from diluted EPS 1,451 186

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	4. Debt Long-term debt consisted of the following (in thousands): March 31, 2019 December 31, 2018 2023 facility (1) $ 222,000 $ 179,000 2024 notes 675,923 696,361 2024 term loan (2) 457,075 458,250 Other finance obligations (Note 5) 223,219 227,071 Finance lease obligations (Note 5) 15,890 16,445 1,594,107 1,577,127 Unamortized debt discount and debt issuance costs (14,977 ) (15,833 ) 1,579,130 1,561,294 Less: current maturities of long-term debt 17,045 15,565 Long-term debt, net of current maturities $ 1,562,085 $ 1,545,729 (1) The weighted average interest rate was 4.7% and 3.9 (2) The weighted average interest rate was 5.8% and 5.2% as of March 31, 2019 and December 31, 2018, respectively. 2019 Debt Transactions In the first quarter of 2019, the Company executed a series of open market purchases of its 5.625% senior secured notes due 2024 (“2024 notes”). These transactions resulted in $20.4 million in aggregate principal amount of the 2024 notes being repurchased at prices ranging from 94.9% to 95.9% of par value. Following these transactions, there was $675.9 million of 2024 notes which remain outstanding. These repurchases of the 2024 notes were considered to be debt extinguishments. As such, we recognized a gain on debt extinguishment of $0.7 million which was recorded as a component of interest expense in the accompanying condensed consolidated statement of operations and comprehensive income for the three months ended March 31, 2019. Of this gain, approximately $0.9 million was attributable to the repurchase of the notes at a discount to par value which was partially offset by a $0.2 million write-off of unamortized debt issuance costs associated with the 2024 Notes repurchased. In April 2019, the Company extended the maturity date of its $900.0 million revolving credit facility (“2023 facility”) by 20 months to November 22, 2023. All other material terms of the 2023 facility remain unchanged from those of the previous agreement. Fair Value As of March 31, 2019 and December 31, 2018, the Company does not have any financial instruments which are measured at fair value on a recurring basis. We have elected to report the value of our 2024 notes, senior secured term loan facility due 2024 (“2024 term loan”) and 2023 facility at amortized cost. The fair values of the 2024 notes and the 2024 term loan at March 31, 2019 were approximately $667.1 million and $443.7 million, respectively, and were determined using Level 2 inputs based on market prices. The carrying value of the 2023 facility at March 31, 2019 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 2023 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 March 31, 2019.

Leases and Other Finance Obliga

Leases and Other Finance Obligations	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases and Other Finance Obligations	5. Leases and Other Finance Obligations We lease certain land, buildings, rolling stock and other types of equipment for use in our operations. These leases typically have initial terms ranging from one to 15 years. Many of our leases contain renewal options which are exercisable at our discretion. These renewal options generally have terms ranging from one to five years. We also lease certain properties from related parties, including current employees and non-affiliate stockholders. Leases with related parties are not significant as of or for the three months ended March 31, 2019 or 2018. We determine if an arrangement is a lease at the inception of the arrangement. Lease liabilities are recognized based on the present value of lease payments over the lease term at the arrangement’s commencement date. Right-of-use assets are recognized based on the amount of the measurement of the lease liability adjusted for any Certain of our leases are subject to variable lease payments based on various measures, such as rent escalations determined by percentage changes in the consumer price index. As these types of variable lease payments are determined on a basis other than an index or a rate, they are generally excluded from the calculation of lease liabilities and right-of-use assets and are expensed as incurred. In addition, we have residual value guarantees on certain equipment leases. Under these leases, we have the option of (a) purchasing the equipment at the end of the lease term, (b) arranging for the sale of the equipment to a third party, or (c) returning the equipment to the lessor to sell the equipment. If the sales proceeds in any case are less than the residual value, we are required to reimburse the lessor for the deficiency up to a specified level as stated in each lease agreement. If the sales proceeds exceed the residual value, we are entitled to all of such excess amounts. The guarantees under these leases for the residual values of equipment at the end of the respective operating lease periods approximated $5.7 million as of March 31, 2019. Based upon the expectation that none of these leased assets will have a residual value at the end of the lease term that is materially less than the value specified in the related operating lease agreement or that we will purchase the equipment at the end of the lease term, we do not believe it is probable that we will be required to fund any amounts under the terms of these guarantee arrangements. Accordingly, these guarantees have not been recognized in the calculation of our right-of-use assets and lease liabilities. Our lease agreements do not impose any significant restrictions or covenants on us. As of March 31, 2019, we had future lease payments of $4.6 million related to leases which have been signed, but have not yet commenced. As such, these lease payments are not reflected on our condensed consolidated balance sheet as of March 31, 2019. Right-of-use assets and lease liabilities consisted of the following (in thousands): March 31, 2019 Assets Operating lease right-of-use assets, net $ 269,640 Finance lease right-of-use assets, net (included in property, plant and equipment, net) 23,111 Total right-of-use assets $ 292,751 Liabilities Current Current portion of operating lease liabilities $ 60,291 Current portion of finance lease liabilities (included in current maturities of long-term debt) 9,868 Noncurrent Noncurrent portion of operating lease liabilities $ 213,841 Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities) 6,022 Total lease liabilities $ 290,022 Total lease costs consisted of the following (in thousands): Three Months Ended March 31, 2019 Operating lease costs* $ 20,907 Finance lease costs: Amortization of finance lease right-of-use assets 1,114 Interest on finance lease liabilities 250 Variable lease costs 4,032 Total lease costs $ 26,303 * Includes short-term lease costs and sublease income which were not material for the three months ended March 31, 2019. Future maturities of lease liabilities as of March 31, 2019 were as follows (in thousands): Finance Leases Operating Leases 2019 (from April 1, 2019) $ 8,113 $ 58,851 2020 6,392 68,864 2021 2,231 58,299 2022 58 43,218 2023 — 30,228 Thereafter — 77,509 Total lease payments 16,794 336,969 Less: amount representing interest (904 ) (62,837 ) Present value of lease liabilities 15,890 274,132 Less: current portion (9,868 ) (60,291 ) Long-term lease liabilities, net of current portion $ 6,022 $ 213,841 Future maturities of lease obligations as of December 31, 2018 were as follows (in thousands): Capital Leases Operating Leases 2019 $ 10,784 $ 77,297 2020 5,392 63,633 2021 1,242 51,804 2022 — 37,054 2023 — 23,327 Thereafter — 57,000 Total minimum lease payments 17,418 $ 310,115 Less: amount representing interest (973 ) Present value of lease liabilities 16,445 Less: current portion (10,039 ) Long-term lease liabilities, net of current portion $ 6,406 Weighted average lease terms and discount rates as of March 31, 2019 were as follows: Weighted average remaining lease term (years) Operating leases 5.9 Finance leases 1.8 Weighted average discount rate Operating leases 7.1 % Finance leases 5.9 % The following table presents cash paid for amounts included in the measurement of lease liabilities as well supplemental noncash information (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 20,655 Operating cash flows from finance leases 250 Financing cash flows from finance leases 3,290 Right-of-use assets obtained in exchange for new operating lease liabilities 15,740 Right-of-use assets obtained in exchange for new finance lease liabilities 2,707 Other Finance Obligations In addition to the operating and finance lease arrangements described above the Company is party to 140 individual property lease agreements with a single lessor as of March 31, 2019. These lease agreements have initial terms ranging from nine to 15 years (expiring through 2021) and renewal options in five-year increments providing for up to approximately 30-year total lease terms We were deemed the owner of certain of our facilities during their construction period based on an evaluation made in accordance with the Leases As of March 31, 2019, other finance obligations consist of $223.2 million, with cash payments of $5.3 million for the three months ended March 31, 2019. These other finance obligations are included on the consolidated balance sheet as part of long-term debt. The related assets are recorded as components of property, plant, and equipment on the consolidated balance sheet. Future maturities for other finance obligations as of March 31, 2019 were as follows (in thousands): 2019 (from April 1, 2019) $ 13,674 2020 18,148 2021 17,784 2022 17,668 2023 17,677 Thereafter 220,570 Total $ 305,521

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	6. Property, Plant and Equipment Property, plant and equipment consisted of the following: March 31, 2019 December 31, 2018 (In thousands) Land $ 197,332 $ 198,304 Buildings and improvements 354,249 358,411 Machinery and equipment 380,540 403,765 Furniture and fixtures 81,279 78,910 Construction in progress 30,823 20,810 Finance lease right-of-use assets 24,225 — Property, plant and equipment 1,068,448 1,060,200 Less: accumulated depreciation 399,393 390,125 Property, plant and equipment, net $ 669,055 $ 670,075 Depreciation expense was $19.7 million and $17.4 million, of $4.9 million and $4.4 Included in property, plant and equipment are certain assets held under other finance obligations. These assets are recorded at the present value of the lease payments and include land, buildings and equipment. Amortization charges associated with assets held under other finance obligations are included in depreciation expense. The following balances held under other finance obligations are included on the accompanying consolidated balance sheet: March 31, 2019 December 31, 2018* (In thousands) Land $ 118,680 $ 118,677 Buildings and improvements 137,050 142,345 Machinery and equipment — 27,188 Assets held under other finance obligations 255,730 288,210 Less: accumulated amortization 15,511 21,786 Assets held under other finance obligations, net $ 240,219 $ 266,424 * Totals as of December 31, 2018 included assets which, under previous guidance, were held under capital leases. As of March 31, 2019 these assets are now presented as finance lease right-of-use assets as reflected in the table above.

Employee Stock-Based Compensati

Employee Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock-Based Compensation	7. Employee Stock-Based Compensation Time Based Restricted Stock Unit Grants In the first quarter of 2019, our board of directors granted 397,000 RSUs to employees under our 2014 Incentive Plan for which vesting is based solely on continuous employment over the requisite service period. The RSUs vest at 33 Performance, Market and Service Condition Based Restricted Stock Unit Grants In the first quarter of 2019, our board of directors granted 397,000 RSUs to employees under our 2014 Incentive Plan, that 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 (“ROIC”) over a three-year period (“performance condition”) as well as continued employment during the performance period. 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 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, was $14.42 per unit, which was determined using the Monte Carlo simulation model using the following assumptions: Expected volatility (company) 38.3% Expected volatility (peer group median) 33.2% Correlation between the company and peer group median 0.5 Expected dividend yield 0.0% Risk-free rate 2.6% The expected volatilities and correlation are based on the historical daily returns of our common stock and the common stocks of the constituents of the Company’s 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	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes A reconciliation of the statutory federal income tax rate to our effective rate for continuing operations is provided below: Three Months Ended 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % State income taxes, net of federal income tax 4.2 5.0 Stock compensation windfall benefit (0.1 ) (16.5 ) Permanent differences and other (1.1 ) (0.9 ) 24.0 % 8.6 % 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	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies As of March 31, 2019, we had outstanding letters of credit totaling $82.2 million under our 2023 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 such amounts in excess of our self-insured retention as 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.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	10. Segment 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. These product and service offerings are distributed across 400 locations operating in 39 states across the United States, which are organized into nine geographical regions. Centralized financial and operational oversight, including resource allocation and assessment of performance on an income (loss) before income taxes basis, is performed by our CEO, whom we have determined to be our chief operating decision maker (“CODM”). The Company has nine operating segments aligned with its nine geographical regions (Regions 1 through 9). While all of our operating segments have products, distribution methods and customers of a similar nature, certain of our operating segments have been aggregated due to also containing similar economic characteristics, resulting in the following composition of reportable segments: • Regions 1 and 2 have been aggregated to form the “Northeast” reportable segment • Regions 3 and 5 have been aggregated to form the “Southeast” reportable segment • Regions 4 and 6 have been aggregated to form the “South” reportable segment • Region 7, 8 and 9 have been aggregated to form the “West” reportable segment In addition to our reportable segments, our consolidated results include corporate overhead, other various operating activities that are not internally allocated to a geographical region nor separately reported as a single unit to the CODM, and certain reconciling items primarily related to allocations of corporate overhead and rent expense, which have collectively been presented as “All Other”. The accounting policies of the segments are consistent with those referenced in Note 1, except for noted reconciling items. The following tables present Net sales, income before income taxes and certain other measures for the reportable segments, reconciled to total consolidated operations, for the periods indicated (in thousands): Three months ended March 31, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 286,717 $ 3,218 $ 5,122 $ 6,655 Southeast 390,096 3,062 5,637 16,787 South 461,079 4,859 5,936 29,141 West 442,436 6,486 8,924 (1,453 ) Total reportable segments 1,580,328 17,625 25,619 51,130 All other 50,972 5,951 (718 ) (4,140 ) Total consolidated $ 1,631,300 $ 23,576 $ 24,901 $ 46,990 Three months ended March 31, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 284,788 $ 3,173 $ 5,557 $ 1,069 Southeast 390,147 2,596 5,874 11,550 South 468,448 4,863 5,948 20,031 West 510,392 6,370 8,713 5,840 Total reportable segments 1,653,775 17,002 26,092 38,490 All other 46,661 5,817 650 (13,088 ) Total consolidated $ 1,700,436 $ 22,819 $ 26,742 $ 25,402 Asset information by segment is not reported internally or otherwise reviewed by the CODM nor does the Company earn revenues or have long-lived assets located in foreign countries.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions Certain members of the Company’s board of directors serve on the board of directors for one of our suppliers, PGT, Inc. 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 three months ended March 31, 2019 or 2018. 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 three months ended March 31, 2019 or 2018.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2016, the FASB issued an update to existing guidance under the Investments In February 2016, the FASB issued an update to the existing guidance under the Leases We adopted this guidance on January 1, 2019 by applying the provisions of this guidance on a modified retrospective basis as of the effective date. As such, comparative periods have not been restated and the disclosures required under the new standard have not been provided for periods prior to January 1, 2019. We elected the package of practical expedients whereby we were not required to: i) reassess whether any expired or existing contracts are or contain leases, ii) reassess the lease classification of existing leases and iii) reassess initial direct costs for any existing leases. We did not elect the hindsight practical expedient or the practical expedient related to land easements. We have assessed and updated our business processes, systems and controls to ensure compliance with the recognition and disclosure requirements of the new standard. Adoption of the new standard resulted in the recording of right-of-use assets and lease liabilities of $269.7 million and $267.5 million, respectively as of January 1, 2019 to recognize operating leases, primarily related to real estate and rolling stock, which were not recognized on our balance sheet under previous guidance. Further, the adoption of this guidance had no impact to our remaining other finance obligations as they continue to fail to meet the sale-leaseback requirements of the new standard. The adoption of this guidance did not have a material impact on our condensed consolidated statement of operations and comprehensive income or on our condensed consolidated statement of cash flows as our leases retained their classifications as determined under previous guidance.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Schedule of Sales by Product Category	The following table disaggregates our sales by product category (in thousands): Three Months Ended March 31, 2019 2018 Lumber & lumber sheet goods $ 517,689 $ 643,909 Manufactured products 317,352 294,178 Windows, doors & millwork 353,390 332,152 Gypsum, roofing & insulation 120,919 112,876 Siding, metal & concrete products 149,918 142,163 Other building products & services 172,032 175,158 Net sales $ 1,631,300 $ 1,700,436

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Summary of Calculation of Basic And Diluted EPS	The table below presents the calculation of basic and diluted EPS (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Numerator: Net income $ 35,708 $ 23,220 Denominator: Weighted average shares outstanding, basic 115,425 114,090 Dilutive effect of options and RSUs 1,106 2,606 Weighted average shares outstanding, diluted 116,531 116,696 Net income per share: Basic $ 0.31 $ 0.20 Diluted $ 0.31 $ 0.20 Antidilutive and contingent options and RSUs excluded from diluted EPS 1,451 186

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following (in thousands): March 31, 2019 December 31, 2018 2023 facility (1) $ 222,000 $ 179,000 2024 notes 675,923 696,361 2024 term loan (2) 457,075 458,250 Other finance obligations (Note 5) 223,219 227,071 Finance lease obligations (Note 5) 15,890 16,445 1,594,107 1,577,127 Unamortized debt discount and debt issuance costs (14,977 ) (15,833 ) 1,579,130 1,561,294 Less: current maturities of long-term debt 17,045 15,565 Long-term debt, net of current maturities $ 1,562,085 $ 1,545,729 (1) The weighted average interest rate was 4.7% and 3.9 (2) The weighted average interest rate was 5.8% and 5.2% as of March 31, 2019 and December 31, 2018, respectively.

Leases and Other Finance Obli_2

Leases and Other Finance Obligations (Table)	3 Months Ended
	Mar. 31, 2019
Lessee Lease Description [Line Items]
Summary of Right-of-use Assets and Lease Liabilities	Right-of-use assets and lease liabilities consisted of the following (in thousands): March 31, 2019 Assets Operating lease right-of-use assets, net $ 269,640 Finance lease right-of-use assets, net (included in property, plant and equipment, net) 23,111 Total right-of-use assets $ 292,751 Liabilities Current Current portion of operating lease liabilities $ 60,291 Current portion of finance lease liabilities (included in current maturities of long-term debt) 9,868 Noncurrent Noncurrent portion of operating lease liabilities $ 213,841 Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities) 6,022 Total lease liabilities $ 290,022
Summary of Total Lease Costs	Total lease costs consisted of the following (in thousands): Three Months Ended March 31, 2019 Operating lease costs* $ 20,907 Finance lease costs: Amortization of finance lease right-of-use assets 1,114 Interest on finance lease liabilities 250 Variable lease costs 4,032 Total lease costs $ 26,303 * Includes short-term lease costs and sublease income which were not material for the three months ended March 31, 2019.
Summary of Future Maturities of Lease Liabilities	Future maturities of lease liabilities as of March 31, 2019 were as follows (in thousands): Finance Leases Operating Leases 2019 (from April 1, 2019) $ 8,113 $ 58,851 2020 6,392 68,864 2021 2,231 58,299 2022 58 43,218 2023 — 30,228 Thereafter — 77,509 Total lease payments 16,794 336,969 Less: amount representing interest (904 ) (62,837 ) Present value of lease liabilities 15,890 274,132 Less: current portion (9,868 ) (60,291 ) Long-term lease liabilities, net of current portion $ 6,022 $ 213,841
Summary of Future Maturities of Lease Obligations	Future maturities of lease obligations as of December 31, 2018 were as follows (in thousands): Capital Leases Operating Leases 2019 $ 10,784 $ 77,297 2020 5,392 63,633 2021 1,242 51,804 2022 — 37,054 2023 — 23,327 Thereafter — 57,000 Total minimum lease payments 17,418 $ 310,115 Less: amount representing interest (973 ) Present value of lease liabilities 16,445 Less: current portion (10,039 ) Long-term lease liabilities, net of current portion $ 6,406
Summary of Weighted Average Lease Terms and Discount Rates	Weighted average lease terms and discount rates as of March 31, 2019 were as follows: Weighted average remaining lease term (years) Operating leases 5.9 Finance leases 1.8 Weighted average discount rate Operating leases 7.1 % Finance leases 5.9 %
Summary of Cash paid for Amounts Included in Measurement of Lease Liabilities as Well Supplemental Noncash Information	The following table presents cash paid for amounts included in the measurement of lease liabilities as well supplemental noncash information (in thousands): Three Months Ended March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 20,655 Operating cash flows from finance leases 250 Financing cash flows from finance leases 3,290 Right-of-use assets obtained in exchange for new operating lease liabilities 15,740 Right-of-use assets obtained in exchange for new finance lease liabilities 2,707
Other Finance Obligations
Lessee Lease Description [Line Items]
Summary of Future Maturities of Other Finance Obligation	Future maturities for other finance obligations as of March 31, 2019 were as follows (in thousands): 2019 (from April 1, 2019) $ 13,674 2020 18,148 2021 17,784 2022 17,668 2023 17,677 Thereafter 220,570 Total $ 305,521

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following: March 31, 2019 December 31, 2018 (In thousands) Land $ 197,332 $ 198,304 Buildings and improvements 354,249 358,411 Machinery and equipment 380,540 403,765 Furniture and fixtures 81,279 78,910 Construction in progress 30,823 20,810 Finance lease right-of-use assets 24,225 — Property, plant and equipment 1,068,448 1,060,200 Less: accumulated depreciation 399,393 390,125 Property, plant and equipment, net $ 669,055 $ 670,075
Schedule of Balances Held Under Other Finance Obligations	The following balances held under other finance obligations are included on the accompanying consolidated balance sheet: March 31, 2019 December 31, 2018* (In thousands) Land $ 118,680 $ 118,677 Buildings and improvements 137,050 142,345 Machinery and equipment — 27,188 Assets held under other finance obligations 255,730 288,210 Less: accumulated amortization 15,511 21,786 Assets held under other finance obligations, net $ 240,219 $ 266,424

Employee Stock-Based Compensa_2

Employee Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
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, was $14.42 per unit, which was determined using the Monte Carlo simulation model using the following assumptions: Expected volatility (company) 38.3% Expected volatility (peer group median) 33.2% Correlation between the company and peer group median 0.5 Expected dividend yield 0.0% Risk-free rate 2.6%

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
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 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % State income taxes, net of federal income tax 4.2 5.0 Stock compensation windfall benefit (0.1 ) (16.5 ) Permanent differences and other (1.1 ) (0.9 ) 24.0 % 8.6 %

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Reconciling Information by Reportable Segments	The following tables present Net sales, income before income taxes and certain other measures for the reportable segments, reconciled to total consolidated operations, for the periods indicated (in thousands): Three months ended March 31, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 286,717 $ 3,218 $ 5,122 $ 6,655 Southeast 390,096 3,062 5,637 16,787 South 461,079 4,859 5,936 29,141 West 442,436 6,486 8,924 (1,453 ) Total reportable segments 1,580,328 17,625 25,619 51,130 All other 50,972 5,951 (718 ) (4,140 ) Total consolidated $ 1,631,300 $ 23,576 $ 24,901 $ 46,990 Three months ended March 31, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 284,788 $ 3,173 $ 5,557 $ 1,069 Southeast 390,147 2,596 5,874 11,550 South 468,448 4,863 5,948 20,031 West 510,392 6,370 8,713 5,840 Total reportable segments 1,653,775 17,002 26,092 38,490 All other 46,661 5,817 650 (13,088 ) Total consolidated $ 1,700,436 $ 22,819 $ 26,742 $ 25,402

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)StoreStates	Jan. 01, 2019USD ($)
Basis Of Presentation [Line Items]
Entity formed, year	1998
Number of Locations | Store	400
Number of states | States	39
Operating lease, right-of-use assets	$ 269,640
Operating lease liabilities	$ 274,132
Accounting Standards Update 2016-02
Basis Of Presentation [Line Items]
Operating lease, right-of-use assets		$ 269,700
Operating lease liabilities		$ 267,500

Revenue - Sales by Product Cate

Revenue - Sales by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 1,631,300	$ 1,700,436
Lumber and Lumber Sheet Goods
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	517,689	643,909
Manufactured Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	317,352	294,178
Windows, Doors and Millwork
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	353,390	332,152
Gypsum, Roofing and Insulation
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	120,919	112,876
Siding, Metal and Concrete Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	149,918	142,163
Other Building Products and Services
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 172,032	$ 175,158

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Contract liability	$ 42.9	$ 42.1

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
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income	$ 35,708	$ 23,220
Weighted average common shares:
Basic	115,425	114,090
Dilutive effect of options and RSUs	1,106	2,606
Weighted average shares outstanding, diluted	116,531	116,696
Net income per share:
Basic	$ 0.31	$ 0.20
Diluted	$ 0.31	$ 0.20
Antidilutive and contingent options and RSUs excluded from diluted EPS	1,451	186

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 1,594,107	$ 1,577,127
Unamortized debt discount and debt issuance costs	(14,977)	(15,833)
Long-term debt and capital lease obligation	1,579,130	1,561,294
Less: current maturities of long-term debt	17,045	15,565
Long-term debt, net of current maturities	1,562,085	1,545,729
2023 Facility
Debt Instrument [Line Items]
Debt instrument carrying amount	222,000	179,000
2024 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	675,923	696,361
2024 Term Loan
Debt Instrument [Line Items]
Debt instrument carrying amount	457,075	458,250
Other Finance Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	223,219	227,071
Finance Lease Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 15,890	$ 16,445

Debt - Summary of Long-Term D_2

Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Mar. 31, 2019	Dec. 31, 2018
2023 Facility
Debt Instrument [Line Items]
Weighted average interest rate	4.70%	3.90%
2024 Term Loan
Debt Instrument [Line Items]
Weighted average interest rate	5.80%	5.20%

Debt - 2019 Debt Transactions -

Debt - 2019 Debt Transactions - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Notes outstanding		$ 1,594,107,000	$ 1,577,127,000
Gain (loss) on extinguishment of debt		680,000
2023 facility | Subsequent Event
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 900,000,000
Revolving credit facility extended maturity period	20 months
Revolving credit facility due date	Nov. 22, 2023
2024 notes
Debt Instrument [Line Items]
Notes repurchase amount		20,400,000
Notes outstanding		$ 675,900,000
Private offered aggregate principal amount rate		5.625%
Gain (loss) on extinguishment of debt		$ 700,000
Gain (Loss) on repurchase of debt instrument		900,000
Write off of unamortized deferred loan cost		$ 200,000
Minimum | 2024 notes
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount		94.90%
Maximum | 2024 notes
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount		95.90%

Debt - Fair Value - Additional

Debt - Fair Value - Additional Information (Detail) - Level 2 $ in Millions	Mar. 31, 2019USD ($)
2024 Notes
Debt Instrument [Line Items]
Fair value of long term debt	$ 667.1
2024 Term Loan
Debt Instrument [Line Items]
Fair value of long term debt	$ 443.7

Leases and Other Finance Obli_3

Leases and Other Finance Obligations - Additional Information (Detail) $ in Millions	Mar. 31, 2019USD ($)
Operating Leased Assets [Line Items]
Guarantees under lease of residual value	$ 5.7
Future lease payments	$ 4.6
Property, Plant and Equipment | Minimum
Operating Leased Assets [Line Items]
Total lease term	1 year
Renewal term	1 year
Property, Plant and Equipment | Maximum
Operating Leased Assets [Line Items]
Total lease term	15 years
Renewal term	5 years

Leases and Other Finance Obli_4

Leases and Other Finance Obligations - Summary of Right-of-use Assets and Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Assets
Operating lease right-of-use assets, net	$ 269,640
Finance lease right-of-use assets, net (included in property, plant and equipment, net)	23,111
Total right-of-use assets	292,751
Current
Current portion of operating lease liabilities	60,291
Current portion of finance lease liabilities (included in current maturities of long-term debt)	9,868
Noncurrent
Noncurrent portion of operating lease liabilities	213,841
Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities)	6,022
Total lease liabilities	$ 290,022

Leases and Other Finance Obli_5

Leases and Other Finance Obligations - Summary of Total Lease Costs (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Lease Cost [Abstract]
Operating lease costs	$ 20,907
Finance lease costs:
Amortization of finance lease right-of-use assets	1,114
Interest on finance lease liabilities	250
Variable lease costs	4,032
Total lease costs	$ 26,303

Leases and Other Finance Obli_6

Leases and Other Finance Obligations - Summary of Future Maturities of Lease Liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Finance Leases
2019 (from April 1, 2019)	$ 8,113
2020	6,392
2021	2,231
2022	58
Total lease payments	16,794
Less: amount representing interest	(904)
Present value of lease liabilities	15,890
Less: current portion	(9,868)
Long-term lease liabilities, net of current portion	6,022
Operating Leases
2019 (from April 1, 2019)	58,851
2020	68,864
2021	58,299
2022	43,218
2023	30,228
Thereafter	77,509
Total lease payments	336,969
Less: amount representing interest	(62,837)
Present value of lease liabilities	274,132
Less: current portion	(60,291)
Long-term lease liabilities, net of current portion	$ 213,841

Leases and Other Finance Obli_7

Leases and Other Finance Obligations - Summary of Future Maturities of Lease Obligations (Detail) $ in Thousands	Dec. 31, 2018USD ($)
Capital Leases
2019	$ 10,784
2020	5,392
2021	1,242
Total minimum lease payments	17,418
Less: amount representing interest	(973)
Present value of lease liabilities	16,445
Less: current portion	(10,039)
Long-term lease liabilities, net of current portion	6,406
Operating Leases
2019	77,297
2020	63,633
2021	51,804
2022	37,054
2023	23,327
Thereafter	57,000
Total minimum lease payments	$ 310,115

Leases and Other Finance Obli_8

Leases and Other Finance Obligations - Summary of Weighted Average Lease Terms and Discount Rates (Detail)	Mar. 31, 2019
Weighted average remaining lease term (years)
Operating leases	5 years 10 months 24 days
Finance leases	1 year 9 months 18 days
Weighted average discount rate
Operating leases	7.10%
Finance leases	5.90%

Leases and Other Finance Obli_9

Leases and Other Finance Obligations - Summary of Cash paid for Amounts Included in Measurement of Lease Liabilities as Well Supplemental Noncash Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 20,655
Operating cash flows from finance leases	250
Financing cash flows from finance leases	3,290
Right-of-use assets obtained in exchange for new operating lease liabilities	15,740
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 2,707

Leases and Other Finance Obl_10

Leases and Other Finance Obligations - Other Finance Obligations - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)Property
Other Finance Obligations [Line Items]
Number of leased properties with single lessor | Property	140
Other finance obligation, expiration year	2021
Other finance obligation, renewal term	5 years
Master lease agreement description	Company is party to 140 individual property lease agreements with a single lessor as of March 31, 2019. These lease agreements have initial terms ranging from nine to 15 years (expiring through 2021) and renewal options in five-year increments providing for up to approximately 30-year total lease terms
Other finance obligations	$ 223.2
Payment of other finance obligation	$ 5.3
Minimum
Other Finance Obligations [Line Items]
Other finance obligation, term	9 years
Maximum
Other Finance Obligations [Line Items]
Other finance obligation, term	15 years
Total lease term	30 years

Leases and Other Finance Obl_11

Leases and Other Finance Obligations - Summary of Future Maturities of Other Finance Obligation (Detail) - Other Finance Obligations $ in Thousands	Mar. 31, 2019USD ($)
Other Finance Obligations [Line Items]
2019 (from April 1, 2019)	$ 13,674
2020	18,148
2021	17,784
2022	17,668
2023	17,677
Thereafter	220,570
Total	$ 305,521

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Summary of Property, Plant and Equipment
Property, plant and equipment	$ 1,068,448	$ 1,060,200
Less: accumulated depreciation	399,393	390,125
Property, plant and equipment, net	669,055	670,075
Land
Summary of Property, Plant and Equipment
Property, plant and equipment	197,332	198,304
Buildings and Improvements
Summary of Property, Plant and Equipment
Property, plant and equipment	354,249	358,411
Machinery and Equipment
Summary of Property, Plant and Equipment
Property, plant and equipment	380,540	403,765
Furniture and Fixtures
Summary of Property, Plant and Equipment
Property, plant and equipment	81,279	78,910
Construction in Progress
Summary of Property, Plant and Equipment
Property, plant and equipment	30,823	$ 20,810
Finance Lease Right-of-use Assets
Summary of Property, Plant and Equipment
Property, plant and equipment	$ 24,225

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 19.7	$ 17.4
Depreciation expense included in cost of goods	$ 4.9	$ 4.4

Property, Plant and Equipment_3

Property, Plant and Equipment - Schedule of Balances Held Under Other Finance Obligations (Detail) - Other Finance Obligations - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Assets held under other finance obligations	$ 255,730	$ 288,210
Less: accumulated amortization	15,511	21,786
Assets held under other finance obligations, net	240,219	266,424
Land
Property Plant And Equipment [Line Items]
Assets held under other finance obligations	118,680	118,677
Buildings and Improvements
Property Plant And Equipment [Line Items]
Assets held under other finance obligations	$ 137,050	142,345
Machinery and Equipment
Property Plant And Equipment [Line Items]
Assets held under other finance obligations		$ 27,188

Employee Stock-Based Compensa_3

Employee Stock-Based Compensation - Additional Information (Detail) - 2014 Incentive Plan	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Time Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted | shares	397,000
Stock award granted vesting period	3 years
Weighted average grant date fair value, granted | $ / shares	$ 14.03
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	33.00%
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	33.00%
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	33.00%
Performance Market and Service Condition Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted | shares	397,000
Stock award granted vesting period	3 years
Weighted average grant date fair value, granted | $ / shares	$ 14.42
Increased percentage of number of shares of additional common stock earned	10.00%
Decreased percentage of number of shares of additional common stock earned	10.00%
Performance Market and Service Condition Based Restricted Stock Unit Grants | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of number of shares of common stock earned	0.00%
Performance Market and Service Condition Based Restricted Stock Unit Grants | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of number of shares of common stock earned	200.00%

Employee Stock-Based Compensa_4

Employee Stock-Based Compensation - Restricted Stock Unit Valuation (Detail) - Performance Market and Service Condition Based Restricted Stock Unit Grants	3 Months Ended
	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility (company)	38.30%
Expected volatility (peer group median)	33.20%
Correlation between the company and peer group median	0.5
Expected dividend yield	0.00%
Risk-free rate	2.60%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Our Effective Rate for Continuing Operations (Detail)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%
State income taxes, net of federal income tax	4.20%	5.00%
Stock compensation windfall benefit	(0.10%)	(16.50%)
Permanent differences and other	(1.10%)	(0.90%)
Total effective rate for continuing operations	24.00%	8.60%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Mar. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 82.2

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019StoreStatesRegionSegment
Segment Reporting [Abstract]
Number of Locations | Store	400
Number of states | States	39
Number of geographic regions | Region	9
Number of operating segments | Segment	9

Segment Information - Schedule

Segment Information - Schedule of Reconciling Information by Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net Sales	$ 1,631,300	$ 1,700,436
Depreciation & Amortization	23,576	22,819
Interest	24,901	26,742
Income before income taxes	46,990	25,402
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	1,580,328	1,653,775
Depreciation & Amortization	17,625	17,002
Interest	25,619	26,092
Income before income taxes	51,130	38,490
Operating Segments | Northeast
Segment Reporting Information [Line Items]
Net Sales	286,717	284,788
Depreciation & Amortization	3,218	3,173
Interest	5,122	5,557
Income before income taxes	6,655	1,069
Operating Segments | Southeast
Segment Reporting Information [Line Items]
Net Sales	390,096	390,147
Depreciation & Amortization	3,062	2,596
Interest	5,637	5,874
Income before income taxes	16,787	11,550
Operating Segments | South
Segment Reporting Information [Line Items]
Net Sales	461,079	468,448
Depreciation & Amortization	4,859	4,863
Interest	5,936	5,948
Income before income taxes	29,141	20,031
Operating Segments | West
Segment Reporting Information [Line Items]
Net Sales	442,436	510,392
Depreciation & Amortization	6,486	6,370
Interest	8,924	8,713
Income before income taxes	(1,453)	5,840
All other
Segment Reporting Information [Line Items]
Net Sales	50,972	46,661
Depreciation & Amortization	5,951	5,817
Interest	(718)	650
Income before income taxes	$ (4,140)	$ (13,088)