Builders FirstSource (BLDR) 10-Q 2 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	BLDR
Security Exchange Name	NASDAQ
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
Title of 12(b) Security	Common stock
Entity Common Stock, Shares Outstanding		115,528,606
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	0-51357
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2084569
Entity Address, Address Line One	2001 Bryan Street
Entity Address, Address Line Two	Suite 1600
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	880-3500
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Sales	$ 1,904,523	$ 2,089,888	$ 3,535,823	$ 3,790,324
Cost of sales	1,387,367	1,593,560	2,576,692	2,882,944
Gross margin	517,156	496,328	959,131	907,380
Selling, general and administrative expenses	401,511	391,769	771,595	750,677
Income from operations	115,645	104,559	187,536	156,703
Interest expense, net	29,382	28,957	54,283	55,699
Income before income taxes	86,263	75,602	133,253	101,004
Income tax expense	19,659	18,980	30,941	21,162
Net income	66,604	56,622	102,312	79,842
Comprehensive income	$ 66,604	$ 56,622	$ 102,312	$ 79,842
Net income per share:
Basic	$ 0.58	$ 0.49	$ 0.89	$ 0.70
Diluted	$ 0.57	$ 0.49	$ 0.88	$ 0.68
Weighted average common shares:
Basic	115,757	114,636	115,592	114,365
Diluted	116,919	116,693	116,726	116,695

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 10,552	$ 10,127
Accounts receivable, less allowances of $12,772 and $13,054 at June 30, 2019 and December 31, 2018, respectively	715,405	654,170
Other receivables	54,257	68,637
Inventories, net	617,527	596,896
Other current assets	36,217	43,921
Total current assets	1,433,958	1,373,751
Property, plant and equipment, net	675,310	670,075
Operating lease right-of-use assets, net	273,971
Goodwill	740,411	740,411
Intangible assets, net	95,417	103,154
Deferred income taxes	7,343	22,766
Other assets, net	23,561	22,152
Total assets	3,249,971	2,932,309
Current liabilities:
Accounts payable	516,897	423,168
Accrued liabilities	258,096	292,526
Current portion of operating lease liabilities	60,576
Current maturities of long-term debt	12,650	15,565
Total current liabilities	848,219	731,259
Noncurrent portion of operating lease liabilities	218,001
Long-term debt, net of current maturities, debt discount, and debt issuance costs	1,420,462	1,545,729
Deferred income taxes	5,967
Other long-term liabilities	53,191	58,983
Total liabilities	2,545,840	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; 115,880 and 115,078 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	1,159	1,151
Additional paid-in capital	565,694	560,221
Retained earnings	137,278	34,966
Total stockholders' equity	704,131	596,338
Total liabilities and stockholders' equity	$ 3,249,971	$ 2,932,309

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Allowances on trade accounts receivable	$ 12,772	$ 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	115,880,000	115,078,000
Common stock, shares outstanding	115,880,000	115,078,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 102,312	$ 79,842
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	47,390	47,587
Amortization of debt issuance costs and debt discount	2,132	2,308
Loss on extinguishment of debt, net	1,498
Deferred income taxes	21,390	18,863
Stock compensation expense	6,038	6,428
Net gain on sale of assets and asset impairments	(1,023)	(326)
Changes in assets and liabilities:
Receivables	(47,113)	(177,765)
Inventories	(20,631)	(189,925)
Other current assets	7,271	(5,693)
Other assets and liabilities	1,057	2,498
Accounts payable	90,050	67,129
Accrued liabilities	(31,586)	(19,915)
Net cash provided by (used in) operating activities	178,785	(168,969)
Cash flows from investing activities:
Purchases of property, plant and equipment	(45,392)	(49,948)
Proceeds from sale of property, plant and equipment	4,620	1,075
Net cash used in investing activities	(40,772)	(48,873)
Cash flows from financing activities:
Borrowings under revolving credit facility	594,000	904,000
Repayments under revolving credit facility	(700,000)	(721,000)
Proceeds from issuance of notes	400,000
Repayments of long-term debt and other loans	(423,743)	(6,852)
Payments of loan costs	(7,278)
Exercise of stock options	1,883	2,212
Repurchase of common stock	(2,450)	(4,855)
Net cash provided by (used in) financing activities	(137,588)	173,505
Net change in cash and cash equivalents	425	(44,337)
Cash and cash equivalents at beginning of the period	10,127	57,533
Cash and cash equivalents at end of the period	$ 10,552	$ 13,196

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement Of Cash Flows [Abstract]
Purchases of property, plant and equipment included in accounts payable	$ 4	$ 3.7
Equipment purchased and financed through finance/capital lease obligations	$ 7	$ 6.8

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, 2017	376,209	$ 1,136	546,766	(171,693)
Balance, shares at Dec. 31, 2017		113,572
Net income	79,842
Balance at Jun. 30, 2018	461,471	$ 1,147	550,707	(90,383)
Balance, shares at Jun. 30, 2018		114,671
Balance at Mar. 31, 2018	400,973	$ 1,146	546,832	(147,005)
Balance, shares at Mar. 31, 2018		114,619
Vesting of restricted stock units		$ 1	(1)
Vesting of restricted stock units, shares		6
Stock compensation expense	3,538		3,538
Exercise of stock options	338		338
Exercise of stock options, shares		46
Net income	56,622			56,622
Balance at Jun. 30, 2018	461,471	$ 1,147	550,707	(90,383)
Balance, shares at Jun. 30, 2018		114,671
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
Balance at Dec. 31, 2018	$ 596,338	$ 1,151	560,221	34,966
Balance, shares at Dec. 31, 2018	115,078	115,078
Net income	$ 102,312
Balance at Jun. 30, 2019	$ 704,131	$ 1,159	565,694	137,278
Balance, shares at Jun. 30, 2019	115,880	115,880
Balance at Mar. 31, 2019	$ 632,471	$ 1,156	560,641	70,674
Balance, shares at Mar. 31, 2019		115,603
Vesting of restricted stock units, shares		11
Stock compensation expense	3,379		3,379
Exercise of stock options	1,677	$ 3	1,674
Exercise of stock options, shares		266
Net income	66,604			66,604
Balance at Jun. 30, 2019	$ 704,131	$ 1,159	$ 565,694	$ 137,278
Balance, shares at Jun. 30, 2019	115,880	115,880

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue	2. Revenue The following table disaggregates our sales by product category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lumber & lumber sheet goods $ 601,487 $ 811,159 $ 1,119,176 $ 1,455,068 Manufactured products 374,299 370,891 691,651 665,069 Windows, doors & millwork 391,049 375,515 744,439 707,667 Gypsum, roofing & insulation 138,388 141,273 259,307 254,149 Siding, metal & concrete products 191,289 189,536 341,207 331,699 Other building products & services 208,011 201,514 380,043 376,672 Net sales $ 1,904,523 $ 2,089,888 $ 3,535,823 $ 3,790,324 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 June 30, 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 $49.6 million and $ 42.1

Net Income per Common Share

Net Income per Common Share	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator: Net income $ 66,604 $ 56,622 $ 102,312 $ 79,842 Denominator: Weighted average shares outstanding, basic 115,757 114,636 115,592 114,365 Dilutive effect of options and RSUs 1,162 2,057 1,134 2,330 Weighted average shares outstanding, diluted 116,919 116,693 116,726 116,695 Net income per share: Basic $ 0.58 $ 0.49 $ 0.89 $ 0.70 Diluted $ 0.57 $ 0.49 $ 0.88 $ 0.68 Antidilutive and contingent options and RSUs excluded from diluted EPS 325 588 659 345

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	4. Debt Long-term debt consisted of the following (in thousands): June 30, 2019 December 31, 2018 2023 facility (1) $ 73,000 $ 179,000 2024 notes 578,923 696,361 2024 term loan (2) 157,075 458,250 2027 notes 400,000 — Other finance obligations (Note 5) 222,916 227,071 Finance lease obligations (Note 5) 17,347 16,445 1,449,261 1,577,127 Unamortized debt discount and debt issuance costs (16,149 ) (15,833 ) 1,433,112 1,561,294 Less: current maturities of long-term debt 12,650 15,565 Long-term debt, net of current maturities $ 1,420,462 $ 1,545,729 (1) The weighted average interest rate was 4.4% and 3.9 (2) The weighted average interest rate was 5.7% and 5.2% as of June 30, 2019 and December 31, 2018, respectively. 2019 Debt Transactions During the six months ended June 30, 2019, the Company executed several debt transactions which are described in more detail below. These transactions include: (i) open market purchases of our 5.625% senior secured notes due 2024 (“2024 notes”), (ii) extension of the maturity of our $900.0 million revolving credit facility (“2023 facility”) and (iii) privately negotiated purchases of our 2024 notes and a partial repayment of our senior secured term loan facility due 2024 (“2024 term loan”) with the proceeds from the issuance of 6.75% senior secured notes due 2027 (“2027 notes”). These transactions collectively have extended our debt maturity profile and reduced the amount of long-term debt outstanding. 2024 Note Repurchase Transactions In the first quarter of 2019, the Company executed a series of open market purchases of its 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. 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 first quarter of 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. Revolving Credit Facility Amendment In April 2019, the Company extended the maturity date of its 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. In connection with the 2023 facility amendment we incurred $1.2 million in lender and third-party fees which, together with $5.9 million in remaining unamortized debt issuance costs, have been recorded as other assets and are being amortized over the remaining contractual life of the 2023 facility on a straight-line basis. 2019 Refinancing Transactions In May 2019, we completed a private offering of $400.0 million in aggregate principal amount of 2027 notes at an issue price equal to 100% of their par value. The proceeds from the issuance of the 2027 notes were used, together with cash on hand, to purchase $97.0 million in aggregate principal amount of 2024 notes, to repay $300.0 million of the 2024 term loan and to pay related transaction fees and expenses. In connection with the issuance of the 2027 notes, we incurred $6.1 million of various third-party fees and expenses. Of these costs, $2.1 million were recorded to interest expense in the second quarter of 2019. The remaining $4.0 million in costs incurred have been recorded as a reduction to long-term debt and are being amortized over the contractual life of the 2027 notes using the effective interest method. Further, we recorded an additional $2.2 million to interest expense in the second quarter of 2019 related to the write-off of unamortized debt discount and debt issuance costs in connection with the partial repayment of the 2024 term loan. Senior Secured Notes due 2027 As of June 30, 2019, we have $400.0 million outstanding in aggregate principal amount of the 2027 notes which mature on June 1, 2027. Interest accrues on the 2027 notes at a rate of 6.75% per annum and is payable semi-annually on June 1 and December 1 of each year, commencing on December 1, 2019. The terms of the 2027 notes are governed by the indenture, dated as of the May 30, 2019 (the “Indenture”), among the Company, the guarantors named therein and Wilmington Trust, National Association, as trustee and as notes collateral agent. The 2027 notes, subject to certain exceptions, are guaranteed, jointly and severally, on a senior secured basis, by certain of the Company’s direct and indirect wholly owned subsidiaries (the “Guarantors”). All obligations under the 2027 notes, and the guarantees of those obligations, are secured by substantially all of the assets of the Company and the Guarantors subject to certain exceptions and permitted liens, including a first-priority security interest in such assets that constitute Notes Collateral (as defined below) and a second-priority security interest in such assets that constitute ABL Collateral (as defined below). “ABL Collateral” includes substantially all presently owned and after-acquired accounts, inventory, rights of an unpaid vendor with respect to inventory, deposit accounts, investment property, cash and cash equivalents, and instruments and chattel paper and general intangibles, books and records and documents related to and proceeds of each of the foregoing. “Notes Collateral” includes all collateral which is not ABL Collateral. The Indenture contains restrictive covenants that limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional debt or issue preferred stock, create liens, create restrictions on the Company’s subsidiaries’ ability to make payments to the Company, pay dividends and make other distributions in respect of the Company’s and its subsidiaries’ capital stock, make certain investments or certain other restricted payments, guarantee indebtedness, designate unrestricted subsidiaries, sell certain kinds of assets, enter into certain types of transactions with affiliates, and effect mergers and consolidations. At any time prior to June 1, 2022, the Company may redeem the 2027 notes in whole or in part at a redemption price equal to 100% of the principal amount of the 2027 notes plus the “applicable premium” set forth in the Indenture. At any time on or after June 1, 2022, the Company may redeem the 2027 notes at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to the redemption date. At any time and from time to time during the 36-month period following the Closing Date, the Company may redeem up to 10% of the aggregate principal amount of the 2027 notes during each twelve-month period commencing on the Closing Date at a redemption price of 103% of the aggregate principal amount thereof plus accrued and unpaid interest to the redemption date. In addition, at any time prior to June 1, 2022, the Company may redeem up to 40% of the aggregate principal amount of the 2027 notes with the net cash proceeds of one or more equity offerings, as described in the Indenture, at a price equal to 106.750% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date. If the Company experiences certain change of control events, holders of the 2027 notes may require it to repurchase all or part of their 2027 notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the repurchase date. Fair Value As of June 30, 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 2027 notes, 2024 notes, 2024 term loan and 2023 facility at amortized cost. The fair values of the 2027 notes, 2024 notes and the 2024 term loan at June 30, 2019 were approximately $423.4 million, $597.2 million and $156.8 million, respectively, and were determined using Level 2 inputs based on market prices. The carrying value of the 2023 facility at June 30, 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 June 30, 2019.

Leases and Other Finance Obliga

Leases and Other Finance Obligations	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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 $5.6 million as of June 30, 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 June 30, 2019, we had no significant future lease payments related to leases which have been signed, but have not yet commenced. Right-of-use assets and lease liabilities consisted of the following (in thousands): June 30, 2019 Assets Operating lease right-of-use assets, net $ 273,971 Finance lease right-of-use assets, net (included in property, plant and equipment, net) 25,770 Total right-of-use assets $ 299,741 Liabilities Current Current portion of operating lease liabilities $ 60,576 Current portion of finance lease liabilities (included in current maturities of long-term debt) 10,148 Noncurrent Noncurrent portion of operating lease liabilities $ 218,001 Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities) 7,199 Total lease liabilities $ 295,924 Total lease costs consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2019 Operating lease costs* $ 21,195 $ 42,102 Finance lease costs: Amortization of finance lease right-of-use assets 1,219 2,334 Interest on finance lease liabilities 267 517 Variable lease costs 4,049 8,081 Total lease costs $ 26,730 $ 53,034 * Includes short-term lease costs and sublease income which were not material for the three and six months ended June 30, 2019. Future maturities of lease liabilities as of June 30, 2019 were as follows (in thousands): Finance Leases Operating Leases 2019 (from July 1, 2019) $ 6,054 $ 39,393 2020 7,972 72,824 2021 3,811 62,087 2022 559 47,155 2023 — 34,123 Thereafter — 85,615 Total lease payments 18,396 341,197 Less: amount representing interest (1,049 ) (62,620 ) Present value of lease liabilities 17,347 278,577 Less: current portion (10,148 ) (60,576 ) Long-term lease liabilities, net of current portion $ 7,199 $ 218,001 Weighted average lease terms and discount rates as of June 30, 2019 were as follows: Weighted average remaining lease term (years) Operating leases 5.9 Finance leases 1.9 Weighted average discount rate Operating leases 6.9 % Finance leases 5.9 % 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 The following table presents cash paid for amounts included in the measurement of lease liabilities as well supplemental noncash information (in thousands): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41,154 Operating cash flows from finance leases 517 Financing cash flows from finance leases 6,162 Right-of-use assets obtained in exchange for new operating lease liabilities 35,949 Right-of-use assets obtained in exchange for new finance lease liabilities 7,036 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 June 30, 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 June 30, 2019, other finance obligations consist of $222.9 million, with cash payments of $10.5 million for the six months ended June 30, 2019. These other finance obligations are included on the condensed consolidated balance sheet as part of long-term debt. The related assets are recorded as components of property, plant, and equipment on the condensed consolidated balance sheet. Future maturities for other finance obligations as of June 30, 2019 were as follows (in thousands): 2019 (from July 1, 2019) $ 9,116 2020 18,148 2021 17,784 2022 17,668 2023 17,677 Thereafter 220,570 Total $ 300,963

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	6. Property, Plant and Equipment Property, plant and equipment consisted of the following: June 30, 2019 December 31, 2018 (In thousands) Land $ 197,140 $ 198,304 Buildings and improvements 359,966 358,411 Machinery and equipment 392,887 403,765 Furniture, fixtures and computer equipment 84,509 78,910 Construction in progress 28,609 20,810 Finance lease right-of-use assets 28,046 — Property, plant and equipment 1,091,157 1,060,200 Less: accumulated depreciation 415,847 390,125 Property, plant and equipment, net $ 675,310 $ 670,075 Depreciation expense was $19.9 million and $18.6 million, of which $4.9 million and $4.8 million and $9.2 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: June 30, 2019 December 31, 2018* (In thousands) Land $ 118,683 $ 118,677 Buildings and improvements 137,050 142,345 Machinery and equipment — 27,188 Assets held under other finance obligations 255,733 288,210 Less: accumulated amortization 16,612 21,786 Assets held under other finance obligations, net $ 239,121 $ 266,424 * Totals as of December 31, 2018 included assets which, under previous guidance, were held under capital leases. As of June 30, 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	6 Months Ended
	Jun. 30, 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 six months of 2019, our board of directors granted 745,000 RSUs to employees and eligible directors under our 2014 Incentive Plan for which vesting is based solely on continuous employment over the requisite service period. 618,000 of the RSUs vest at 33 % anniversary of the grant date and 54,000 of the RSUs cliff vest on the first anniversary of the grant date. The weighted average grant date fair value for these RSUs was $ per unit , which was based on the closin g stock price on the grant date . Performance, Market and Service Condition Based Restricted Stock Unit Grants In the first six months 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	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 4.4 5.1 4.4 5.1 Stock compensation windfall benefit (0.4 ) (0.1 ) (0.3 ) (4.2 ) Permanent differences and other (2.2 ) (0.9 ) (1.9 ) (0.9 ) 22.8 % 25.1 % 23.2 % 21.0 % 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	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies As of June 30, 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	6 Months Ended
	Jun. 30, 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 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 June 30, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 350,671 $ 3,256 $ 5,280 $ 18,674 Southeast 419,085 3,100 5,521 24,281 South 476,577 4,914 5,859 29,117 West 596,981 6,536 9,159 35,203 Total reportable segments 1,843,314 17,806 25,819 107,275 All other 61,209 6,008 3,563 (21,012 ) Total consolidated $ 1,904,523 $ 23,814 $ 29,382 $ 86,263 Three months ended June 30, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 357,258 $ 3,523 $ 6,012 $ 12,110 Southeast 454,734 2,922 6,545 16,266 South 538,168 5,326 6,740 23,435 West 676,374 6,765 10,887 39,558 Total reportable segments 2,026,534 18,536 30,184 91,369 All other 63,354 6,232 (1,227 ) (15,767 ) Total consolidated $ 2,089,888 $ 24,768 $ 28,957 $ 75,602 Six months ended June 30, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 637,268 $ 6,469 $ 10,400 $ 25,450 Southeast 808,564 6,147 11,146 41,349 South 937,656 9,773 11,795 58,259 West 1,038,313 12,998 18,062 33,978 Total reportable segments 3,421,801 35,387 51,403 159,036 All other 114,022 12,003 2,880 (25,783 ) Total consolidated $ 3,535,823 $ 47,390 $ 54,283 $ 133,253 Six months ended June 30, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 641,650 $ 6,690 $ 11,556 $ 13,253 Southeast 844,187 5,508 12,395 27,839 South 1,006,615 10,188 12,689 43,466 West 1,184,933 13,107 19,561 45,562 Total reportable segments 3,677,385 35,493 56,201 130,120 All other 112,939 12,094 (502 ) (29,116 ) Total consolidated $ 3,790,324 $ 47,587 $ 55,699 $ 101,004 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	6 Months Ended
	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions Certain members of the Company’s board of directors also serve on the board of directors of 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 six months ended June 30, 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 six months ended June 30, 2019 or 2018.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events Acquisition In July 2019, we acquired certain assets and the operations of Sun State Components (“Sun State”) for $42.9 million in cash, subject to certain adjustments. Sun State is comprised of three truss companies, which are located in Las Vegas, Nevada; Surprise, Arizona; and Kingman, Arizona. Sun State manufactures roof trusses and floor trusses and distributes lumber and related products to residential homebuilders and commercial contractors. The accounting for this acquisition has not been completed at the date of this filing given the proximity to the acquisition date. The acquisition 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 net 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. Debt Transactions In July 2019, we completed a private offering of an additional $75.0 million in aggregate principal amount of 2027 notes at an issue price of 104.5% of their par value. The proceeds from this offering were used to redeem an additional $75.0 million in aggregate principal amount of our 2024 notes at a price of 103.0% of their face value and to pay the related transaction fees and expenses. Common Stock Repurchases In February 2019, the Company announced that our board of directors has authorized the repurchase of up to $20.0 million of our common stock. From July 1, 2019 through July 31, 2019, the Company repurchased 360,000 shares of our common stock, at an average price of $16.88 per share, for $6.1 million pursuant to this repurchase plan.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Lumber & lumber sheet goods $ 601,487 $ 811,159 $ 1,119,176 $ 1,455,068 Manufactured products 374,299 370,891 691,651 665,069 Windows, doors & millwork 391,049 375,515 744,439 707,667 Gypsum, roofing & insulation 138,388 141,273 259,307 254,149 Siding, metal & concrete products 191,289 189,536 341,207 331,699 Other building products & services 208,011 201,514 380,043 376,672 Net sales $ 1,904,523 $ 2,089,888 $ 3,535,823 $ 3,790,324

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Numerator: Net income $ 66,604 $ 56,622 $ 102,312 $ 79,842 Denominator: Weighted average shares outstanding, basic 115,757 114,636 115,592 114,365 Dilutive effect of options and RSUs 1,162 2,057 1,134 2,330 Weighted average shares outstanding, diluted 116,919 116,693 116,726 116,695 Net income per share: Basic $ 0.58 $ 0.49 $ 0.89 $ 0.70 Diluted $ 0.57 $ 0.49 $ 0.88 $ 0.68 Antidilutive and contingent options and RSUs excluded from diluted EPS 325 588 659 345

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following (in thousands): June 30, 2019 December 31, 2018 2023 facility (1) $ 73,000 $ 179,000 2024 notes 578,923 696,361 2024 term loan (2) 157,075 458,250 2027 notes 400,000 — Other finance obligations (Note 5) 222,916 227,071 Finance lease obligations (Note 5) 17,347 16,445 1,449,261 1,577,127 Unamortized debt discount and debt issuance costs (16,149 ) (15,833 ) 1,433,112 1,561,294 Less: current maturities of long-term debt 12,650 15,565 Long-term debt, net of current maturities $ 1,420,462 $ 1,545,729 (1) The weighted average interest rate was 4.4% and 3.9 (2) The weighted average interest rate was 5.7% and 5.2% as of June 30, 2019 and December 31, 2018, respectively.

Leases and Other Finance Obli_2

Leases and Other Finance Obligations (Table)	6 Months Ended
	Jun. 30, 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): June 30, 2019 Assets Operating lease right-of-use assets, net $ 273,971 Finance lease right-of-use assets, net (included in property, plant and equipment, net) 25,770 Total right-of-use assets $ 299,741 Liabilities Current Current portion of operating lease liabilities $ 60,576 Current portion of finance lease liabilities (included in current maturities of long-term debt) 10,148 Noncurrent Noncurrent portion of operating lease liabilities $ 218,001 Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities) 7,199 Total lease liabilities $ 295,924
Summary of Total Lease Costs	Total lease costs consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2019 Operating lease costs* $ 21,195 $ 42,102 Finance lease costs: Amortization of finance lease right-of-use assets 1,219 2,334 Interest on finance lease liabilities 267 517 Variable lease costs 4,049 8,081 Total lease costs $ 26,730 $ 53,034 * Includes short-term lease costs and sublease income which were not material for the three and six months ended June 30, 2019.
Summary of Future Maturities of Lease Liabilities	Future maturities of lease liabilities as of June 30, 2019 were as follows (in thousands): Finance Leases Operating Leases 2019 (from July 1, 2019) $ 6,054 $ 39,393 2020 7,972 72,824 2021 3,811 62,087 2022 559 47,155 2023 — 34,123 Thereafter — 85,615 Total lease payments 18,396 341,197 Less: amount representing interest (1,049 ) (62,620 ) Present value of lease liabilities 17,347 278,577 Less: current portion (10,148 ) (60,576 ) Long-term lease liabilities, net of current portion $ 7,199 $ 218,001
Summary of Weighted Average Lease Terms and Discount Rates	Weighted average lease terms and discount rates as of June 30, 2019 were as follows: Weighted average remaining lease term (years) Operating leases 5.9 Finance leases 1.9 Weighted average discount rate Operating leases 6.9 % Finance leases 5.9 %
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 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): Six Months Ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 41,154 Operating cash flows from finance leases 517 Financing cash flows from finance leases 6,162 Right-of-use assets obtained in exchange for new operating lease liabilities 35,949 Right-of-use assets obtained in exchange for new finance lease liabilities 7,036
Other Finance Obligations
Lessee Lease Description [Line Items]
Summary of Future Maturities of Other Finance Obligation	Future maturities for other finance obligations as of June 30, 2019 were as follows (in thousands): 2019 (from July 1, 2019) $ 9,116 2020 18,148 2021 17,784 2022 17,668 2023 17,677 Thereafter 220,570 Total $ 300,963

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following: June 30, 2019 December 31, 2018 (In thousands) Land $ 197,140 $ 198,304 Buildings and improvements 359,966 358,411 Machinery and equipment 392,887 403,765 Furniture, fixtures and computer equipment 84,509 78,910 Construction in progress 28,609 20,810 Finance lease right-of-use assets 28,046 — Property, plant and equipment 1,091,157 1,060,200 Less: accumulated depreciation 415,847 390,125 Property, plant and equipment, net $ 675,310 $ 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: June 30, 2019 December 31, 2018* (In thousands) Land $ 118,683 $ 118,677 Buildings and improvements 137,050 142,345 Machinery and equipment — 27,188 Assets held under other finance obligations 255,733 288,210 Less: accumulated amortization 16,612 21,786 Assets held under other finance obligations, net $ 239,121 $ 266,424

Employee Stock-Based Compensa_2

Employee Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 4.4 5.1 4.4 5.1 Stock compensation windfall benefit (0.4 ) (0.1 ) (0.3 ) (4.2 ) Permanent differences and other (2.2 ) (0.9 ) (1.9 ) (0.9 ) 22.8 % 25.1 % 23.2 % 21.0 %

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 350,671 $ 3,256 $ 5,280 $ 18,674 Southeast 419,085 3,100 5,521 24,281 South 476,577 4,914 5,859 29,117 West 596,981 6,536 9,159 35,203 Total reportable segments 1,843,314 17,806 25,819 107,275 All other 61,209 6,008 3,563 (21,012 ) Total consolidated $ 1,904,523 $ 23,814 $ 29,382 $ 86,263 Three months ended June 30, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 357,258 $ 3,523 $ 6,012 $ 12,110 Southeast 454,734 2,922 6,545 16,266 South 538,168 5,326 6,740 23,435 West 676,374 6,765 10,887 39,558 Total reportable segments 2,026,534 18,536 30,184 91,369 All other 63,354 6,232 (1,227 ) (15,767 ) Total consolidated $ 2,089,888 $ 24,768 $ 28,957 $ 75,602 Six months ended June 30, 2019 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 637,268 $ 6,469 $ 10,400 $ 25,450 Southeast 808,564 6,147 11,146 41,349 South 937,656 9,773 11,795 58,259 West 1,038,313 12,998 18,062 33,978 Total reportable segments 3,421,801 35,387 51,403 159,036 All other 114,022 12,003 2,880 (25,783 ) Total consolidated $ 3,535,823 $ 47,390 $ 54,283 $ 133,253 Six months ended June 30, 2018 Reportable segments Net Sales Depreciation & Amortization Interest Income before income taxes Northeast $ 641,650 $ 6,690 $ 11,556 $ 13,253 Southeast 844,187 5,508 12,395 27,839 South 1,006,615 10,188 12,689 43,466 West 1,184,933 13,107 19,561 45,562 Total reportable segments 3,677,385 35,493 56,201 130,120 All other 112,939 12,094 (502 ) (29,116 ) Total consolidated $ 3,790,324 $ 47,587 $ 55,699 $ 101,004

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 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	$ 273,971
Operating lease liabilities	$ 278,577
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 1,904,523	$ 2,089,888	$ 3,535,823	$ 3,790,324
Lumber and Lumber Sheet Goods
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	601,487	811,159	1,119,176	1,455,068
Manufactured Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	374,299	370,891	691,651	665,069
Windows, Doors and Millwork
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	391,049	375,515	744,439	707,667
Gypsum, Roofing and Insulation
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	138,388	141,273	259,307	254,149
Siding, Metal and Concrete Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	191,289	189,536	341,207	331,699
Other Building Products and Services
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 208,011	$ 201,514	$ 380,043	$ 376,672

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Contract liability	$ 49.6	$ 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				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income	$ 66,604	$ 35,708	$ 56,622	$ 23,220	$ 102,312	$ 79,842
Weighted average common shares:
Basic	115,757		114,636		115,592	114,365
Dilutive effect of options and RSUs	1,162		2,057		1,134	2,330
Weighted average shares outstanding, diluted	116,919		116,693		116,726	116,695
Net income per share:
Basic	$ 0.58		$ 0.49		$ 0.89	$ 0.70
Diluted	$ 0.57		$ 0.49		$ 0.88	$ 0.68
Antidilutive and contingent options and RSUs excluded from diluted EPS	325		588		659	345

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Jun. 30, 2019	May 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument carrying amount		$ 1,449,261		$ 1,577,127
Unamortized debt discount and debt issuance costs		(16,149)		(15,833)
Long-term debt and capital lease obligation		1,433,112		1,561,294
Less: current maturities of long-term debt		12,650		15,565
Long-term debt, net of current maturities		1,420,462		1,545,729
2023 Facility
Debt Instrument [Line Items]
Debt instrument carrying amount		73,000		179,000
2024 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount		578,923		696,361
2024 Term Loan
Debt Instrument [Line Items]
Debt instrument carrying amount		157,075		458,250
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 75,000	400,000	$ 400,000
Other Finance Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount		222,916		227,071
Finance Lease Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount		$ 17,347		$ 16,445

Debt - Summary of Long-Term D_2

Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2019	Dec. 31, 2018
2023 Facility
Debt Instrument [Line Items]
Weighted average interest rate	4.40%	3.90%
2024 Term Loan
Debt Instrument [Line Items]
Weighted average interest rate	5.70%	5.20%

Debt - 2019 Debt Transactions -

Debt - 2019 Debt Transactions - Additional Information (Detail)	Jun. 30, 2019USD ($)
2023 facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	$ 900,000,000
2024 notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate	5.625%
2027 Notes
Debt Instrument [Line Items]
Private offered aggregate principal amount rate	6.75%

Debt - 2024 Note Repurchase Tra

Debt - 2024 Note Repurchase Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt		$ (1,498)
2024 notes
Debt Instrument [Line Items]
Notes repurchase amount	$ 20,400
Gain (loss) on extinguishment of debt	700
Gain (Loss) on repurchase of debt instrument	900
Write off of unamortized deferred loan cost	$ 200
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 - Revolving Credit Facilit

Debt - Revolving Credit Facility Amendment - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Debt issuance costs		$ 7,278
2023 facility
Debt Instrument [Line Items]
Revolving credit facility extended maturity period	20 months
Revolving credit facility due date	Nov. 22, 2023
Debt issuance costs	$ 1,200
Unamortized debt discount and debt issuance costs	$ 5,900

Debt - 2019 Refinancing Transac

Debt - 2019 Refinancing Transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	6 Months Ended
	Jul. 31, 2019	May 31, 2019	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument carrying amount			$ 1,449,261	$ 1,449,261	$ 1,577,127
Debt issuance costs				7,278
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 75,000	$ 400,000	400,000	400,000
Net percentage of proceeds from debt issuance	104.50%	100.00%
Debt issuance costs		$ 6,100
Debt issuance costs recorded to interest expense			2,100
Debt issuance costs		4,000
2024 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount			578,923	578,923	696,361
Purchase of notes, aggregate principal amount	$ 75,000	97,000
2024 Term Loan
Debt Instrument [Line Items]
Debt instrument carrying amount			157,075	$ 157,075	$ 458,250
Repayment of term loan		$ 300,000
Write-off of unamortized debt discount and debt issuance costs			$ 2,200

Debt - Senior Secured Notes due

Debt - Senior Secured Notes due 2027 - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019	May 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 1,449,261			$ 1,577,127
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 400,000	$ 75,000	$ 400,000
Senior secured term loan maturity date	Jun. 1, 2027
Private offered aggregate principal amount rate	6.75%
Debt instrument interest rate terms	payable semi-annually on June 1 and December 1 of each year, commencing on December 1, 2019.
Purchase price, Percentage of principal amount	101.00%
Redemption period	36 months
2027 Notes | Redemption Period Prior to June 1, 2022
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	100.00%
2027 Notes | Redemption Period Following Closing Date for Each Twelve-month
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	103.00%
2027 Notes | Redemption Price Using Proceeds From Equity Offering
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	106.75%
2027 Notes | Maximum | Redemption Period Following Closing Date for Each Twelve-month
Debt Instrument [Line Items]
Redemption percentage of aggregate principal amount redeemable in each twelve-month period commencing on closing date	10.00%
2027 Notes | Maximum | Redemption Price Using Proceeds From Equity Offering
Debt Instrument [Line Items]
Redemption percentage of aggregate principal amount	40.00%

Debt - Fair Value - Additional

Debt - Fair Value - Additional Information (Detail) - Level 2 $ in Millions	Jun. 30, 2019USD ($)
2027 Notes
Debt Instrument [Line Items]
Fair value of long term debt	$ 423.4
2024 Notes
Debt Instrument [Line Items]
Fair value of long term debt	597.2
2024 Term Loan
Debt Instrument [Line Items]
Fair value of long term debt	$ 156.8

Leases and Other Finance Obli_3

Leases and Other Finance Obligations - Additional Information (Detail) $ in Millions	Jun. 30, 2019USD ($)
Operating Leased Assets [Line Items]
Guarantees under lease of residual value	$ 5.6
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	Jun. 30, 2019USD ($)
Assets
Operating lease right-of-use assets, net	$ 273,971
Finance lease right-of-use assets, net (included in property, plant and equipment, net)	25,770
Total right-of-use assets	299,741
Current
Current portion of operating lease liabilities	60,576
Current portion of finance lease liabilities (included in current maturities of long-term debt)	10,148
Noncurrent
Noncurrent portion of operating lease liabilities	218,001
Noncurrent portion of finance lease liabilities (included in long-term debt, net of current maturities)	7,199
Total lease liabilities	$ 295,924

Leases and Other Finance Obli_5

Leases and Other Finance Obligations - Summary of Total Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lease Cost [Abstract]
Operating lease costs	$ 21,195	$ 42,102
Amortization of finance lease right-of-use assets	1,219	2,334
Interest on finance lease liabilities	267	517
Variable lease costs	4,049	8,081
Total lease costs	$ 26,730	$ 53,034

Leases and Other Finance Obli_6

Leases and Other Finance Obligations - Summary of Future Maturities of Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Finance Leases
2019 (from July 1, 2019)	$ 6,054
2020	7,972
2021	3,811
2022	559
Total lease payments	18,396
Less: amount representing interest	(1,049)
Present value of lease liabilities	17,347
Less: current portion	(10,148)
Long-term lease liabilities, net of current portion	7,199
Operating Leases
2019 (from July 1, 2019)	39,393
2020	72,824
2021	62,087
2022	47,155
2023	34,123
Thereafter	85,615
Total lease payments	341,197
Less: amount representing interest	(62,620)
Present value of lease liabilities	278,577
Less: current portion	(60,576)
Long-term lease liabilities, net of current portion	$ 218,001

Leases and Other Finance Obli_7

Leases and Other Finance Obligations - Summary of Weighted Average Lease Terms and Discount Rates (Detail)	Jun. 30, 2019
Weighted average remaining lease term (years)
Operating leases	5 years 10 months 24 days
Finance leases	1 year 10 months 24 days
Weighted average discount rate
Operating leases	6.90%
Finance leases	5.90%

Leases and Other Finance Obli_8

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_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	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 41,154
Operating cash flows from finance leases	517
Financing cash flows from finance leases	6,162
Right-of-use assets obtained in exchange for new operating lease liabilities	35,949
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 7,036

Leases and Other Finance Obl_10

Leases and Other Finance Obligations - Other Finance Obligations - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 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
Total lease term	30 years
Master lease agreement description	Company is party to 140 individual property lease agreements with a single lessor as of June 30, 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	$ 222.9
Payment of other finance obligation	$ 10.5
Minimum
Other Finance Obligations [Line Items]
Other finance obligation, term	9 years
Maximum
Other Finance Obligations [Line Items]
Other finance obligation, term	15 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	Jun. 30, 2019USD ($)
Other Finance Obligations [Line Items]
2019 (from July 1, 2019)	$ 9,116
2020	18,148
2021	17,784
2022	17,668
2023	17,677
Thereafter	220,570
Total	$ 300,963

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Summary of Property, Plant and Equipment
Property, plant and equipment	$ 1,091,157	$ 1,060,200
Less: accumulated depreciation	415,847	390,125
Property, plant and equipment, net	675,310	670,075
Land
Summary of Property, Plant and Equipment
Property, plant and equipment	197,140	198,304
Buildings and Improvements
Summary of Property, Plant and Equipment
Property, plant and equipment	359,966	358,411
Machinery and Equipment
Summary of Property, Plant and Equipment
Property, plant and equipment	392,887	403,765
Furniture, Fixtures and Computer Equipment
Summary of Property, Plant and Equipment
Property, plant and equipment	84,509	78,910
Construction in Progress
Summary of Property, Plant and Equipment
Property, plant and equipment	28,609	$ 20,810
Finance Lease Right-of-use Assets
Summary of Property, Plant and Equipment
Property, plant and equipment	$ 28,046

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 19.9	$ 18.6	$ 39.7	$ 36
Depreciation expense included in cost of goods	$ 4.9	$ 4.8	$ 9.8	$ 9.2

Property, Plant and Equipment_3

Property, Plant and Equipment - Schedule of Balances Held Under Other Finance Obligations (Detail) - Other Finance Obligations - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Assets held under other finance obligations	$ 255,733	$ 288,210
Less: accumulated amortization	16,612	21,786
Assets held under other finance obligations, net	239,121	266,424
Land
Property Plant And Equipment [Line Items]
Assets held under other finance obligations	118,683	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	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Time Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	745,000
Stock award granted vesting period	3 years
Weighted average grant date fair value, granted | $ / shares	$ 14.17
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting Over Three Years
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	618,000
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%
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting On Fourth Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	73,000
Stock award granted vesting period	4 years
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting On First Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	54,000
Stock award granted vesting period	1 year
Performance Market and Service Condition Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	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	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax	4.40%	5.10%	4.40%	5.10%
Stock compensation windfall benefit	(0.40%)	(0.10%)	(0.30%)	(4.20%)
Permanent differences and other	(2.20%)	(0.90%)	(1.90%)	(0.90%)
Total effective rate for continuing operations	22.80%	25.10%	23.20%	21.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Jun. 30, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 82.2

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Net Sales	$ 1,904,523	$ 2,089,888	$ 3,535,823	$ 3,790,324
Depreciation & Amortization	23,814	24,768	47,390	47,587
Interest	29,382	28,957	54,283	55,699
Income before income taxes	86,263	75,602	133,253	101,004
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	1,843,314	2,026,534	3,421,801	3,677,385
Depreciation & Amortization	17,806	18,536	35,387	35,493
Interest	25,819	30,184	51,403	56,201
Income before income taxes	107,275	91,369	159,036	130,120
Operating Segments | Northeast
Segment Reporting Information [Line Items]
Net Sales	350,671	357,258	637,268	641,650
Depreciation & Amortization	3,256	3,523	6,469	6,690
Interest	5,280	6,012	10,400	11,556
Income before income taxes	18,674	12,110	25,450	13,253
Operating Segments | Southeast
Segment Reporting Information [Line Items]
Net Sales	419,085	454,734	808,564	844,187
Depreciation & Amortization	3,100	2,922	6,147	5,508
Interest	5,521	6,545	11,146	12,395
Income before income taxes	24,281	16,266	41,349	27,839
Operating Segments | South
Segment Reporting Information [Line Items]
Net Sales	476,577	538,168	937,656	1,006,615
Depreciation & Amortization	4,914	5,326	9,773	10,188
Interest	5,859	6,740	11,795	12,689
Income before income taxes	29,117	23,435	58,259	43,466
Operating Segments | West
Segment Reporting Information [Line Items]
Net Sales	596,981	676,374	1,038,313	1,184,933
Depreciation & Amortization	6,536	6,765	12,998	13,107
Interest	9,159	10,887	18,062	19,561
Income before income taxes	35,203	39,558	33,978	45,562
All other
Segment Reporting Information [Line Items]
Net Sales	61,209	63,354	114,022	112,939
Depreciation & Amortization	6,008	6,232	12,003	12,094
Interest	3,563	(1,227)	2,880	(502)
Income before income taxes	$ (21,012)	$ (15,767)	$ (25,783)	$ (29,116)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	1 Months Ended		3 Months Ended		6 Months Ended
	Jul. 31, 2019USD ($)Company$ / sharesshares	May 31, 2019USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)	Feb. 28, 2019USD ($)	Dec. 31, 2018USD ($)
Subsequent Event [Line Items]
Debt instrument carrying amount					$ 1,449,261,000		$ 1,577,127,000
Repurchase of common stock			$ 2,450,000	$ 4,855,000
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock, shares | shares	360,000
Repurchase of common stock, average price per share | $ / shares	$ 16.88
Repurchase of common stock	$ 6,100,000
Maximum
Subsequent Event [Line Items]
Stock repurchase program, authorized amount						$ 20,000,000
2027 Notes
Subsequent Event [Line Items]
Debt instrument carrying amount	$ 75,000,000	$ 400,000,000			$ 400,000,000
Net percentage of proceeds from debt issuance	104.50%	100.00%
Purchase price, Percentage of principal amount					101.00%
2024 Notes
Subsequent Event [Line Items]
Debt instrument carrying amount					$ 578,923,000		$ 696,361,000
Purchase of notes, aggregate principal amount	$ 75,000,000	$ 97,000,000
Purchase price, Percentage of principal amount	103.00%
Sun State
Subsequent Event [Line Items]
Cash consideration for certain assets acquired	$ 42,900,000
Number of truss companies | Company	3