Builders FirstSource (BLDR) 10-Q 31 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 29, 2020
Cover [Abstract]
Document Type	10-Q
Entity Registrant Name	BUILDERS FIRSTSOURCE, INC.
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	BLDR
Security Exchange Name	NASDAQ
Entity Central Index Key	0001316835
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common stock, par value $0.01 per share
Entity Common Stock, Shares Outstanding		116,701,510
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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 1,945,643	$ 1,904,523	$ 3,732,664	$ 3,535,823
Cost of sales	1,428,311	1,387,367	2,749,919	2,576,692
Gross margin	517,332	517,156	982,745	959,131
Selling, general and administrative expenses	388,077	401,511	792,543	771,595
Income from operations	129,255	115,645	190,202	187,536
Interest expense, net	26,812	29,382	78,743	54,283
Income before income taxes	102,443	86,263	111,459	133,253
Income tax expense	23,519	19,659	23,768	30,941
Net income	78,924	66,604	87,691	102,312
Comprehensive income	$ 78,924	$ 66,604	$ 87,691	$ 102,312
Net income per share:
Basic	$ 0.68	$ 0.58	$ 0.75	$ 0.89
Diluted	$ 0.67	$ 0.57	$ 0.75	$ 0.88
Weighted average common shares:
Basic	116,634	115,757	116,446	115,592
Diluted	117,547	116,919	117,520	116,726

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 385,461	$ 14,096
Accounts receivable, less allowances of $16,834 and $13,492 at June 30, 2020 and December 31, 2019, respectively	719,684	614,946
Other receivables	45,164	77,447
Inventories, net	615,142	561,255
Other current assets	36,136	39,123
Total current assets	1,801,587	1,306,867
Property, plant and equipment, net	743,542	721,887
Operating lease right-of-use assets, net	286,354	292,684
Goodwill	777,283	769,022
Intangible assets, net	126,519	128,388
Deferred income taxes	7,693	8,417
Other assets, net	21,700	22,225
Total assets	3,764,678	3,249,490
Current liabilities:
Accounts payable	554,394	436,823
Accrued liabilities	292,851	308,950
Current portion of operating lease liabilities	61,887	61,653
Current maturities of long-term debt	23,974	13,875
Total current liabilities	933,106	821,301
Noncurrent portion of operating lease liabilities	230,634	236,948
Long-term debt, net of current maturities, debt discount, and debt issuance costs	1,577,884	1,277,398
Deferred income taxes	38,169	36,645
Other long-term liabilities	68,951	52,245
Total liabilities	2,848,744	2,424,537
Commitments and contingencies (Note 10)
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; 116,701 and 116,052 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	1,167	1,161
Additional paid-in capital	578,239	574,955
Retained earnings	336,528	248,837
Total stockholders' equity	915,934	824,953
Total liabilities and stockholders' equity	$ 3,764,678	$ 3,249,490

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowances on trade accounts receivable	$ 16,834	$ 13,492
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	116,701,000	116,052,000
Common stock, shares outstanding	116,701,000	116,052,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 87,691	$ 102,312
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	57,875	47,390
Amortization of debt issuance costs and debt discount	1,587	2,132
Loss on extinguishment of debt, net	5,349	1,498
Deferred income taxes	2,248	21,390
Stock compensation expense	6,720	6,038
Net gain on sale of assets and asset impairments	(188)	(1,023)
Changes in assets and liabilities, net of assets acquired and liabilities assumed:
Receivables	(69,991)	(47,113)
Inventories	(53,685)	(20,631)
Other current assets	2,987	7,271
Other assets and liabilities	39,452	1,057
Accounts payable	108,152	90,050
Accrued liabilities	(18,311)	(31,586)
Net cash provided by operating activities	169,886	178,785
Cash flows from investing activities:
Purchases of property, plant and equipment	(54,809)	(45,392)
Proceeds from sale of property, plant and equipment	1,451	4,620
Cash used for acquisitions	15,893
Net cash used in investing activities	(69,251)	(40,772)
Cash flows from financing activities:
Borrowings under revolving credit facility	791,000	594,000
Repayments under revolving credit facility	(818,000)	(700,000)
Proceeds from issuance of notes	895,625	400,000
Repayments of long-term debt and other loans	(557,964)	(423,743)
Payments of debt extinguishment costs	22,686
Payments of loan costs	13,800	7,278
Exercise of stock options	708	1,883
Repurchase of common stock	(4,153)	(2,450)
Net cash provided by (used in) financing activities	270,730	(137,588)
Net change in cash and cash equivalents	371,365	425
Cash and cash equivalents at beginning of the period	14,096	10,127
Cash and cash equivalents at end of the period	385,461	10,552
Supplemental disclosures of cash flow information:
Cash paid for interest	55,356	50,046
Cash paid for income taxes	335	2,797
Supplemental disclosures of non-cash activities:
Accrued purchases of property, plant and equipment	1,900	4,030
Acquisition of assets under operating lease obligations	25,960	35,847
Acquisition of assets under finance lease obligations	$ 10,132	$ 7,036

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings
Balance at Dec. 31, 2018	$ 596,338	$ 1,151	$ 560,221	$ 34,966
Balance, shares at Dec. 31, 2018		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
Shares withheld for restricted stock units vested	(2,450)	$ (2)	(2,448)
Shares withheld for restricted stock units vested, 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
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
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
Balance at Dec. 31, 2019	$ 824,953	$ 1,161	574,955	248,837
Balance, shares at Dec. 31, 2019	116,052	116,052
Vesting of restricted stock units		$ 6	(6)
Vesting of restricted stock units, shares		579
Stock compensation expense	$ 3,254		3,254
Exercise of stock options	398		398
Exercise of stock options, shares		82
Shares withheld for restricted stock units vested	(3,834)	$ (2)	(3,832)
Shares withheld for restricted stock units vested, shares		(168)
Net income	8,767			8,767
Balance at Mar. 31, 2020	833,538	$ 1,165	574,769	257,604
Balance, shares at Mar. 31, 2020		116,545
Balance at Dec. 31, 2019	$ 824,953	$ 1,161	574,955	248,837
Balance, shares at Dec. 31, 2019	116,052	116,052
Net income	$ 87,691
Balance at Jun. 30, 2020	$ 915,934	$ 1,167	578,239	336,528
Balance, shares at Jun. 30, 2020	116,701	116,701
Balance at Mar. 31, 2020	$ 833,538	$ 1,165	574,769	257,604
Balance, shares at Mar. 31, 2020		116,545
Vesting of restricted stock units		$ 2	(2)
Vesting of restricted stock units, shares		130
Stock compensation expense	3,466		3,466
Exercise of stock options	325		325
Exercise of stock options, shares		48
Shares withheld for restricted stock units vested	(319)		(319)
Shares withheld for restricted stock units vested, shares		(22)
Net income	78,924			78,924
Balance at Jun. 30, 2020	$ 915,934	$ 1,167	$ 578,239	$ 336,528
Balance, shares at Jun. 30, 2020	116,701	116,701

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation Builders FirstSource, Inc., a Delaware corporation formed in 1998, is a leading supplier and manufacturer of building materials, manufactured components and construction services to professional homebuilders, sub-contractors, remodelers and consumers. The Company operates approximately 400 locations in 40 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, 2019 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, 2019 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, 2019 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. Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued an update to existing guidance under the Income Taxes In June 2016, the FASB issued an update to existing guidance under the Investments

Revenue

Revenue	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Lumber & lumber sheet goods $ 622,158 $ 601,487 $ 1,174,639 $ 1,119,176 Manufactured products 365,782 374,299 720,240 691,651 Windows, doors & millwork 404,054 391,049 795,370 744,439 Gypsum, roofing & insulation 125,789 138,388 236,641 259,307 Siding, metal & concrete products 200,575 191,289 369,460 341,207 Other building products & services 227,285 208,011 436,314 380,043 Net sales $ 1,945,643 $ 1,904,523 $ 3,732,664 $ 3,535,823 Information regarding disaggregation of sales by segment is discussed in Note 11 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, 2020 or December 31, 2019. 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 $49.7 million and $38.6 million as of June 30, 2020 and December 31, 2019, respectively.

Net Income per Common Share

Net Income per Common Share	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Numerator: Net income $ 78,924 $ 66,604 $ 87,691 $ 102,312 Denominator: Weighted average shares outstanding, basic 116,634 115,757 116,446 115,592 Dilutive effect of options and RSUs 913 1,162 1,074 1,134 Weighted average shares outstanding, diluted 117,547 116,919 117,520 116,726 Net income per share: Basic $ 0.68 $ 0.58 $ 0.75 $ 0.89 Diluted $ 0.67 $ 0.57 $ 0.75 $ 0.88 Antidilutive and contingent options and RSUs excluded from diluted EPS 651 325 434 659

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	4. Debt Long-term debt consisted of the following (in thousands): June 30, 2020 December 31, 2019 2023 facility (1) $ — $ 27,000 2024 notes — 503,923 2024 term loan (2) 52,000 52,000 2027 notes 777,500 475,000 2030 notes 550,000 — Other finance obligations 219,264 221,726 Finance lease obligations 23,766 20,333 1,622,530 1,299,982 Unamortized debt discount and debt issuance costs (20,672 ) (8,709 ) 1,601,858 1,291,273 Less: current maturities of long-term debt 23,974 13,875 Long-term debt, net of current maturities $ 1,577,884 $ 1,277,398 (1) The weighted average interest rate was 3.8% and 4.4 (2) The weighted average interest rate was 4.5% and 5.6% as of June 30, 2020 and December 31, 2019, respectively. 2020 Debt Transactions During the six months ended June 30, 2020, the Company executed several debt transactions which are described in more detail below. These transactions include: (i) private offering of $550.0 million in aggregate principal amount of 5.0% unsecured senior notes due 2030 (“2030 notes”), (ii) redemption of the remaining $503.9 million in outstanding aggregate principal amount of 5.625% senior secured notes due 2024 (“2024 notes”) and $47.5 million in aggregate principal amount of 6.75% senior secured notes due 2027 (“2027 notes”), (iii) private offering of $350.0 million in aggregate principal amount of 6.75% senior secured notes due 2027. These transactions collectively have extended our debt maturity profile and strengthened our liquidity position. First Quarter 2020 Refinancing Transactions In February 2020, the Company completed a private offering of $550.0 million in aggregate principal amount of 2030 notes at an issue price equal to 100% of par value. The net proceeds from the issuance of the 2030 notes were used together with a borrowing on our $900.0 million revolving credit facility (“2023 facility”) to redeem the remaining $503.9 million in outstanding aggregate principal amount of 2024 notes and $47.5 million in aggregate principal amount of 2027 notes and to pay related transaction fees and expenses. In connection with the issuance of the 2030 notes, we incurred $8.3 million of various third-party fees and expenses. These costs have been recorded as a reduction to long-term debt and are being amortized over the contractual life of the 2030 notes using the effective interest method. As the Company concluded that the redemption of the 2024 notes and 2027 notes were debt extinguishments, the Company recorded a loss on extinguishment of $28.0 million in interest expense in the first quarter of 2020. Of this loss, approximately $22.7 million was attributable to the payment of redemption premiums on the extinguished notes and $5.3 million was attributable to the write-off of unamortized debt issuance costs and debt premium. Second Quarter 2020 Debt Transaction In April 2020, the Company completed a private offering of an additional $350.0 million in aggregate principal amount of 2027 notes at an issue price of 98.75% of par value. The net proceeds from the issuance of the 2027 notes were used to repay the funds drawn under the 2023 facility and to pay related transaction fees and expenses, with the remaining net proceeds used for general corporate purposes. The Company recognized the $4.4 million in proceeds received below par value as a debt discount, which is recorded as a reduction to long-term debt. In connection with the issuance of the 2027 notes, we incurred $5.5 million of various third-party fees and expenses, which have been recorded as a reduction to long-term debt. These third-party costs and the debt discount will be amortized over the contractual life of the 2027 notes using the effective interest method. Senior Unsecured Notes due 2030 As of June 30, 2020, we have $550.0 million outstanding in aggregate principal amount of the 2030 notes, which mature on March 1, 2030. Interest accrues on the 2030 notes at a rate of 5.00% per annum and is payable semi-annually on March 1 and September 1 of each year, commencing on September 1, 2020. The terms of the 2030 notes are governed by the indenture, dated as of the February 11, 2020 (the “Indenture”), among the Company, the guarantors named therein and Wilmington Trust, National Association, as trustee. The 2030 notes, subject to certain exceptions, are guaranteed, jointly and severally, on a senior unsecured basis, by each of the Company’s direct and indirect wholly owned subsidiaries (the “Guarantors”) that guarantee its obligations under the Company’s 2023 Facility and existing senior secured term loan facility (the “2024 term loan,” and, together with the 2023 facility, the “Senior Secured Credit Facilities”) and the 2027 Secured Notes. Subject to certain exceptions, future subsidiaries that guarantee the Senior Secured Credit Facilities, the 2027 notes or certain other indebtedness will also guarantee the 2030 notes. The 2030 notes constitute senior unsecured obligations of the Company and the Guarantors, pari passu 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 March 1, 2025, the Company may redeem the 2030 notes in whole or in part at a redemption price equal to 100% of the principal amount of the 2030 notes plus the “applicable premium” set forth in the Indenture. In addition, at any time prior to March 1, 2023, the Company may redeem up to 40% of the aggregate principal amount of the 2030 notes with the net cash proceeds of one or more equity offerings, as described in the Indenture, at a price equal to 105.0% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date. At any time on or after March 1, 2025, the Company may redeem the 2030 notes at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to the redemption date. If the Company experiences certain change of control events, holders of the 2030 notes may require it to repurchase all or part of their 2030 notes at 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the repurchase date. We were not in violation of any covenants or restrictions imposed by any of our debt agreements at June 30, 2020. Fair Value As of June 30, 2020 and December 31, 2019, 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, 2030 notes, 2024 term loan and 2023 facility at amortized cost. The fair values of the 2027 notes, 2030 notes and the 2024 term loan at June 30, 2020 were approximately $797.5 million, $519.8 million and $50.2 million, respectively, and were determined using Level 2 inputs based on market prices.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Business Combination	5. Business Combination On January 9, 2020, we acquired certain assets and operations of Bianchi & Company, Inc. (“Bianchi”) for $15.9 million in cash. Located in Charlotte, North Carolina, Bianchi is a supplier and installer of interior and exterior millwork. This acquisition was funded with a combination of cash on hand and borrowings under our 2023 facility. This transaction was accounted for by the acquisition method, and accordingly the results of operations have been included in the Company’s consolidated financial statements from the acquisition date. The purchase price was allocated to the assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill. The fair value of acquired intangible assets of $9.4 million, primarily related to customer relationships, was estimated by applying an income approach. That measure is based on significant Level 3 inputs not observable in the market. Key assumptions developed based on the Company’s historical experience, future projections and comparable market data include future cash flows, long-term growth rates, attrition rates and discount rates. Pro forma results of operations as well as net sales and income attributable to Bianchi are not presented as this acquisition did not have a material impact on our results of operations. We did not incur any significant acquisition related costs attributable to this transaction. The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands): Accounts receivable $ 2,353 Inventory 202 Property, plant and equipment 74 Other assets 94 Goodwill (Note 6) 8,261 Intangible assets (Note 7) 9,440 Total assets acquired 20,424 Accounts payable and accrued liabilities (4,531 ) Total liabilities assumed (4,531 ) Total net assets acquired $ 15,893

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	6. Goodwill The following table sets forth the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2020 (in thousands): Northeast Southeast South West Total Balance as of December 31, 2019 Goodwill $ 97,102 $ 60,691 $ 343,919 $ 311,946 $ 813,658 Accumulated impairment losses (494 ) (615 ) (43,527 ) — (44,636 ) 96,608 60,076 300,392 311,946 769,022 Acquisitions — 8,261 — — 8,261 Balance as of June 30, 2020 Goodwill $ 97,102 $ 68,952 $ 343,919 $ 311,946 $ 821,919 Accumulated impairment losses (494 ) (615 ) (43,527 ) — (44,636 ) $ 96,608 $ 68,337 $ 300,392 $ 311,946 $ 777,283 In 2020, the change in the carrying amount of goodwill is attributable to our acquisition of Bianchi. The amount allocated to goodwill is attributable to the assembled workforce of Bianchi as well as expected growth from the expanded millwork product and service operations acquired. All of the goodwill recognized from this acquisition is expected to be deductible for tax purposes and will be amortized ratably over a 15-year period for tax purposes.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	7. Intangible Assets The following table presents intangible assets as of: June 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization (In thousands) Customer relationships $ 191,305 $ (86,105 ) $ 183,445 $ (77,016 ) Trade names 52,061 (37,130 ) 51,361 (36,082 ) Subcontractor relationships 5,440 (1,037 ) 4,700 (131 ) Non-compete agreements 3,719 (1,734 ) 3,579 (1,468 ) Total intangible assets $ 252,525 $ (126,006 ) $ 243,085 $ (114,697 ) In connection with the acquisition of Bianchi, we recorded intangible assets of $9.4 million, which includes $7.9 million of customer relationships, $0.7 million of subcontractor relationships, $0.7 million of trade names and $0.1 million of non-compete agreements. The weighted average useful lives of the acquired assets are 8.2 years in total, 9.3 years for customer relationships, 3.0 years for subcontractor relationships, 3.0 years for trade names and 3.0 years for non-compete agreements. During the three and six months ended June 30, 2020, we recorded amortization expense in relation to the above-listed intangible assets of $5.6 million and $11.3 million, respectively. During the three and six months ended June 30, 2019, we recorded amortization expense in relation to the above-listed intangible assets of $3.9 million and $7.7 million, respectively. The following table presents the estimated amortization expense for these intangible assets for the years ending December 31 (in thousands): 2020 (from July 1, 2020) $ 10,615 2021 20,231 2022 18,671 2023 15,408 2024 14,094 Thereafter 47,500 Total future net intangible amortization expense $ 126,519

Employee Stock-Based Compensati

Employee Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Employee Stock-Based Compensation	8. Employee Stock-Based Compensation Time Based Restricted Stock Unit Grants In the first six months of 2020, our board of directors granted 714,000 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. 512,000 of the RSUs vest at 33 % P erformance , Market and Service Condition Based Restricted Stock Unit Grants In the first six months of 2020, our board of directors granted 272,000 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 Expected volatility (company) 40.0% Expected volatility (peer group median) 40.0% Correlation between the company and peer group median 0.5 Expected dividend yield 0.0% Risk-free rate 0.9% 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, 2020
Income Tax Disclosure [Abstract]
Income Taxes	9. 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, 2020 2019 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 3.4 4.4 3.3 4.4 Stock compensation windfall benefit (0.2 ) (0.4 ) (1.4 ) (0.3 ) Permanent differences and other (1.2 ) (2.2 ) (1.6 ) (1.9 ) 23.0 % 22.8 % 21.3 % 23.2 % On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") into law. The CARES Act is a relief package intended to assist many aspects of the American economy disrupted by the COVID-19 pandemic. Consistent with provisions provided under the CARES act, we have elected to defer the remission of certain payroll taxes through the end of 2020, with 50% of these deferred payroll taxes to be remitted by December 31, 2021 and the remaining 50% due by December 31, 2022. This is expected to provide us with approximately $35 million of additional liquidity during the current year. We do not currently expect the CARES Act to have a material impact on our financial results, including our annual estimated effective tax rate. 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, particularly due to economic disruptions related to the COVID-19 pandemic, 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, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies As of June 30, 2020, 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 and there is a reasonable possibility of loss that is not able to be estimated at this time, 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, 2020
Segment Reporting [Abstract]
Segment Information	11. 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 approximately 400 locations operating in 40 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, 2020 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 294,214 $ 3,596 $ 5,197 $ 13,132 Southeast 450,663 3,933 5,800 30,943 South 510,453 6,910 5,857 30,771 West 619,874 7,823 9,775 40,087 Total reportable segments 1,875,204 22,262 26,629 114,933 All other 70,439 6,213 183 (12,490) Total consolidated $ 1,945,643 $ 28,475 $ 26,812 $ 102,443 Three months ended June 30, 2019 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 349,682 $ 3,249 $ 5,386 $ 18,867 Southeast 416,080 3,083 5,480 24,260 South 473,763 4,887 5,823 28,886 West 587,140 6,417 8,960 35,613 Total reportable segments 1,826,665 17,636 25,649 107,626 All other 77,858 6,178 3,733 (21,363) Total consolidated $ 1,904,523 $ 23,814 $ 29,382 $ 86,263 Six months ended June 30, 2020 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 589,787 $ 7,092 $ 10,128 $ 17,748 Southeast 851,047 7,776 11,106 47,520 South 1,010,257 13,742 11,521 54,128 West 1,135,408 15,402 19,074 44,990 Total reportable segments 3,586,499 44,012 51,829 164,386 All other 146,165 13,863 26,914 (52,927) Total consolidated $ 3,732,664 $ 57,875 $ 78,743 $ 111,459 Six months ended June 30, 2019 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 635,471 $ 6,454 $ 10,563 $ 26,111 Southeast 802,753 6,116 11,062 41,516 South 932,372 9,719 11,723 57,895 West 1,022,520 12,763 17,668 35,439 Total reportable segments 3,393,116 35,052 51,016 160,961 All other 142,707 12,338 3,267 (27,708) Total consolidated $ 3,535,823 $ 47,390 $ 54,283 $ 133,253 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, 2020
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions Certain members of the Company’s board of directors serve on the board of directors for one of our suppliers, PGT Innovations, 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, 2020 or 2019. 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, 2020 or 2019.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued an update to existing guidance under the Income Taxes In June 2016, the FASB issued an update to existing guidance under the Investments

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Lumber & lumber sheet goods $ 622,158 $ 601,487 $ 1,174,639 $ 1,119,176 Manufactured products 365,782 374,299 720,240 691,651 Windows, doors & millwork 404,054 391,049 795,370 744,439 Gypsum, roofing & insulation 125,789 138,388 236,641 259,307 Siding, metal & concrete products 200,575 191,289 369,460 341,207 Other building products & services 227,285 208,011 436,314 380,043 Net sales $ 1,945,643 $ 1,904,523 $ 3,732,664 $ 3,535,823

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Numerator: Net income $ 78,924 $ 66,604 $ 87,691 $ 102,312 Denominator: Weighted average shares outstanding, basic 116,634 115,757 116,446 115,592 Dilutive effect of options and RSUs 913 1,162 1,074 1,134 Weighted average shares outstanding, diluted 117,547 116,919 117,520 116,726 Net income per share: Basic $ 0.68 $ 0.58 $ 0.75 $ 0.89 Diluted $ 0.67 $ 0.57 $ 0.75 $ 0.88 Antidilutive and contingent options and RSUs excluded from diluted EPS 651 325 434 659

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Long-term debt consisted of the following (in thousands): June 30, 2020 December 31, 2019 2023 facility (1) $ — $ 27,000 2024 notes — 503,923 2024 term loan (2) 52,000 52,000 2027 notes 777,500 475,000 2030 notes 550,000 — Other finance obligations 219,264 221,726 Finance lease obligations 23,766 20,333 1,622,530 1,299,982 Unamortized debt discount and debt issuance costs (20,672 ) (8,709 ) 1,601,858 1,291,273 Less: current maturities of long-term debt 23,974 13,875 Long-term debt, net of current maturities $ 1,577,884 $ 1,277,398 (1) The weighted average interest rate was 3.8% and 4.4 (2) The weighted average interest rate was 4.5% and 5.6% as of June 30, 2020 and December 31, 2019, respectively.

Business Combination (Tables)

Business Combination (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Summary of Aggregate Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands): Accounts receivable $ 2,353 Inventory 202 Property, plant and equipment 74 Other assets 94 Goodwill (Note 6) 8,261 Intangible assets (Note 7) 9,440 Total assets acquired 20,424 Accounts payable and accrued liabilities (4,531 ) Total liabilities assumed (4,531 ) Total net assets acquired $ 15,893

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2020
Text Block [Abstract]
Schedule of Change in Carrying Amount of Goodwill	The following table sets forth the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2020 (in thousands): Northeast Southeast South West Total Balance as of December 31, 2019 Goodwill $ 97,102 $ 60,691 $ 343,919 $ 311,946 $ 813,658 Accumulated impairment losses (494 ) (615 ) (43,527 ) — (44,636 ) 96,608 60,076 300,392 311,946 769,022 Acquisitions — 8,261 — — 8,261 Balance as of June 30, 2020 Goodwill $ 97,102 $ 68,952 $ 343,919 $ 311,946 $ 821,919 Accumulated impairment losses (494 ) (615 ) (43,527 ) — (44,636 ) $ 96,608 $ 68,337 $ 300,392 $ 311,946 $ 777,283

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following table presents intangible assets as of: June 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization (In thousands) Customer relationships $ 191,305 $ (86,105 ) $ 183,445 $ (77,016 ) Trade names 52,061 (37,130 ) 51,361 (36,082 ) Subcontractor relationships 5,440 (1,037 ) 4,700 (131 ) Non-compete agreements 3,719 (1,734 ) 3,579 (1,468 ) Total intangible assets $ 252,525 $ (126,006 ) $ 243,085 $ (114,697 )
Estimated Amortization Expense for Intangible Assets	The following table presents the estimated amortization expense for these intangible assets for the years ending December 31 (in thousands): 2020 (from July 1, 2020) $ 10,615 2021 20,231 2022 18,671 2023 15,408 2024 14,094 Thereafter 47,500 Total future net intangible amortization expense $ 126,519

Employee Stock-Based Compensa_2

Employee Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
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 $23.18 per unit, which was determined using the Monte Carlo simulation model using the following assumptions: Expected volatility (company) 40.0% Expected volatility (peer group median) 40.0% Correlation between the company and peer group median 0.5 Expected dividend yield 0.0% Risk-free rate 0.9%

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 2019 2020 2019 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of federal income tax 3.4 4.4 3.3 4.4 Stock compensation windfall benefit (0.2 ) (0.4 ) (1.4 ) (0.3 ) Permanent differences and other (1.2 ) (2.2 ) (1.6 ) (1.9 ) 23.0 % 22.8 % 21.3 % 23.2 %

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
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, 2020 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 294,214 $ 3,596 $ 5,197 $ 13,132 Southeast 450,663 3,933 5,800 30,943 South 510,453 6,910 5,857 30,771 West 619,874 7,823 9,775 40,087 Total reportable segments 1,875,204 22,262 26,629 114,933 All other 70,439 6,213 183 (12,490) Total consolidated $ 1,945,643 $ 28,475 $ 26,812 $ 102,443 Three months ended June 30, 2019 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 349,682 $ 3,249 $ 5,386 $ 18,867 Southeast 416,080 3,083 5,480 24,260 South 473,763 4,887 5,823 28,886 West 587,140 6,417 8,960 35,613 Total reportable segments 1,826,665 17,636 25,649 107,626 All other 77,858 6,178 3,733 (21,363) Total consolidated $ 1,904,523 $ 23,814 $ 29,382 $ 86,263 Six months ended June 30, 2020 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 589,787 $ 7,092 $ 10,128 $ 17,748 Southeast 851,047 7,776 11,106 47,520 South 1,010,257 13,742 11,521 54,128 West 1,135,408 15,402 19,074 44,990 Total reportable segments 3,586,499 44,012 51,829 164,386 All other 146,165 13,863 26,914 (52,927) Total consolidated $ 3,732,664 $ 57,875 $ 78,743 $ 111,459 Six months ended June 30, 2019 Reportable segments Net sales Depreciation & amortization Interest Income before income taxes Northeast $ 635,471 $ 6,454 $ 10,563 $ 26,111 Southeast 802,753 6,116 11,062 41,516 South 932,372 9,719 11,723 57,895 West 1,022,520 12,763 17,668 35,439 Total reportable segments 3,393,116 35,052 51,016 160,961 All other 142,707 12,338 3,267 (27,708) Total consolidated $ 3,535,823 $ 47,390 $ 54,283 $ 133,253

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020StoreStates
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Entity formed, year	1998
Number of Locations | Store	400
Number of states | States	40

Revenue - Sales by Product Cate

Revenue - Sales by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 1,945,643	$ 1,904,523	$ 3,732,664	$ 3,535,823
Lumber and Lumber Sheet Goods
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	622,158	601,487	1,174,639	1,119,176
Manufactured Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	365,782	374,299	720,240	691,651
Windows, Doors and Millwork
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	404,054	391,049	795,370	744,439
Gypsum, Roofing and Insulation
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	125,789	138,388	236,641	259,307
Siding, Metal and Concrete Products
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	200,575	191,289	369,460	341,207
Other Building Products and Services
Entity Wide Information Revenue From External Customer [Line Items]
Net sales	$ 227,285	$ 208,011	$ 436,314	$ 380,043

Revenue - Additional Informatio

Revenue - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Contract liability	$ 49.7	$ 38.6
Transferred over Time | Maximum
Disaggregation Of Revenue [Line Items]
Percentage of sales related to contracts with service	10.00%

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, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income	$ 78,924	$ 8,767	$ 66,604	$ 35,708	$ 87,691	$ 102,312
Weighted average common shares:
Basic	116,634		115,757		116,446	115,592
Dilutive effect of options and RSUs	913		1,162		1,074	1,134
Weighted average shares outstanding, diluted	117,547		116,919		117,520	116,726
Net income per share:
Basic	$ 0.68		$ 0.58		$ 0.75	$ 0.89
Diluted	$ 0.67		$ 0.57		$ 0.75	$ 0.88
Antidilutive and contingent options and RSUs excluded from diluted EPS	651		325		434	659

Debt - Summary of Long-Term Deb

Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Apr. 30, 2020	Feb. 29, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 1,622,530			$ 1,299,982
Unamortized debt discount and debt issuance costs	(20,672)			(8,709)
Long-term debt and capital lease obligation	1,601,858			1,291,273
Less: current maturities of long-term debt	23,974			13,875
Long-term debt, net of current maturities	1,577,884			1,277,398
2023 Facility
Debt Instrument [Line Items]
Debt instrument carrying amount				27,000
2024 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount			$ 503,900	503,923
2024 Term Loan
Debt Instrument [Line Items]
Debt instrument carrying amount	52,000			52,000
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	777,500	$ 350,000	47,500	475,000
Other Finance Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	219,264			221,726
2030 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	550,000		$ 550,000
Finance Lease Obligations
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 23,766			$ 20,333

Debt - Summary of Long-Term D_2

Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2020	Dec. 31, 2019
2023 Facility
Debt Instrument [Line Items]
Weighted average interest rate	3.80%	4.40%
2024 Term Loan
Debt Instrument [Line Items]
Weighted average interest rate	4.50%	5.60%

Debt - 2020 Debt Transactions -

Debt - 2020 Debt Transactions - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	6 Months Ended
	Apr. 30, 2020	Feb. 29, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument carrying amount				$ 1,622,530		$ 1,299,982
Payments of loan costs				13,800	$ 7,278
Loss (gain) on extinguishment of debt				(5,349)	(1,498)
Proceeds from issuance of notes				895,625	$ 400,000
2030 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount		$ 550,000		$ 550,000
Private offered aggregate principal amount rate				5.00%	5.00%
Net percentage of proceeds from debt issuance		100.00%
Payments of loan costs		$ 8,300
2024 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount		503,900				503,923
Private offered aggregate principal amount rate				5.625%
Debt instrument redeemed				$ 503,900
2027 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 350,000	47,500		$ 777,500		475,000
Private offered aggregate principal amount rate				6.75%
Debt instrument redeemed				$ 47,500
Net percentage of proceeds from debt issuance	98.75%
Proceeds from issuance of notes	$ 4,400
Debt issuance costs related to third-party fees and expenses	$ 5,500
6.75% 2027 notes
Debt Instrument [Line Items]
Debt instrument carrying amount				$ 350,000
Private offered aggregate principal amount rate				6.75%
2023 Facility
Debt Instrument [Line Items]
Debt instrument carrying amount						$ 27,000
Line of credit facility maximum borrowing capacity		$ 900,000
2024 Notes and 2027 Notes
Debt Instrument [Line Items]
Loss (gain) on extinguishment of debt			$ 28,000
Gain (loss) on extinguishment of debt attributable to payment of redemption premiums on extinguished notes			22,700
Write-off of unamortized debt issuance costs and debt premium			$ 5,300

Debt - Senior Unsecured Notes d

Debt - Senior Unsecured Notes due 2030 - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Feb. 29, 2020	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 1,622,530		$ 1,299,982
2030 Notes
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 550,000	$ 550,000
Maturity date of debt instruments	Mar. 1, 2030
Private offered aggregate principal amount rate	5.00%			5.00%
Debt instrument interest rate terms	payable semi-annually on March 1 and September 1 of each year, commencing on September 1, 2020.
Purchase price, Percentage of principal amount	101.00%
2030 Notes | Redemption Period Prior to March 1, 2025
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	100.00%
2030 Notes | Redemption Period Prior to March 1, 2023
Debt Instrument [Line Items]
Purchase price, Percentage of principal amount	105.00%
2030 Notes | Maximum | Redemption Period Prior to March 1, 2023
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, 2020USD ($)
2027 Notes
Debt Instrument [Line Items]
Fair value of long term debt	$ 797.5
2030 Notes
Debt Instrument [Line Items]
Fair value of long term debt	519.8
2024 Term Loan
Debt Instrument [Line Items]
Fair value of long term debt	$ 50.2

Business Combination - Addition

Business Combination - Additional Information (Detail) - Bianchi & Company, Inc. - USD ($) $ in Thousands	Jan. 09, 2020	Jun. 30, 2020
Business Acquisition [Line Items]
Cash consideration for certain assets acquired	$ 15,900
Fair value of intangible assets acquired		$ 9,440
Level 3 | Customer Relationships
Business Acquisition [Line Items]
Fair value of intangible assets acquired		$ 9,400

Business Combination - Summary

Business Combination - Summary of Aggregate Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 777,283	$ 769,022
Bianchi & Company, Inc.
Business Acquisition [Line Items]
Accounts receivable	2,353
Inventory	202
Property, plant and equipment	74
Other assets	94
Goodwill	8,261
Intangible assets (Note 7)	9,440
Total assets acquired	20,424
Accounts payable and accrued liabilities	(4,531)
Total liabilities assumed	(4,531)
Total net assets acquired	$ 15,893

Goodwill - Schedule of Change i

Goodwill - Schedule of Change in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2020
Goodwill [Line Items]
Goodwill	$ 813,658	$ 821,919
Accumulated impairment losses	(44,636)	(44,636)
Goodwill, net	769,022	777,283
Acquisitions	8,261
Northeast
Goodwill [Line Items]
Goodwill	97,102	97,102
Accumulated impairment losses	(494)	(494)
Goodwill, net	96,608	96,608
Southeast
Goodwill [Line Items]
Goodwill	60,691	68,952
Accumulated impairment losses	(615)	(615)
Goodwill, net	60,076	68,337
Acquisitions	8,261
South
Goodwill [Line Items]
Goodwill	343,919	343,919
Accumulated impairment losses	(43,527)	(43,527)
Goodwill, net	300,392	300,392
West
Goodwill [Line Items]
Goodwill	311,946	311,946
Goodwill, net	$ 311,946	$ 311,946

Goodwill - Additional Informati

Goodwill - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill amortization period	15 years

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 252,525	$ 243,085
Accumulated amortization	(126,006)	(114,697)
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	191,305	183,445
Accumulated amortization	(86,105)	(77,016)
Trade Names
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	52,061	51,361
Accumulated amortization	(37,130)	(36,082)
Subcontractor Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	5,440	4,700
Accumulated amortization	(1,037)	(131)
Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	3,719	3,579
Accumulated amortization	$ (1,734)	$ (1,468)

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite Lived Intangible Assets [Line Items]
Amortization Expenses	$ 5.6	$ 3.9	$ 11.3	$ 7.7
Bianchi Company Inc
Finite Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	9.4		$ 9.4
Weighted average useful lives of the acquired assets			8 years 2 months 12 days
Bianchi Company Inc | Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	7.9		$ 7.9
Weighted average useful lives of the acquired assets			9 years 3 months 18 days
Bianchi Company Inc | Subcontractor Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	0.7		$ 0.7
Weighted average useful lives of the acquired assets			3 years
Bianchi Company Inc | Trade Names
Finite Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	0.7		$ 0.7
Weighted average useful lives of the acquired assets			3 years
Bianchi Company Inc | Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Intangible assets in connection with acquisition	$ 0.1		$ 0.1
Weighted average useful lives of the acquired assets			3 years

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization Expense for Intangible Assets (Detail) $ in Thousands	Jun. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2020 (from July 1, 2020)	$ 10,615
2021	20,231
2022	18,671
2023	15,408
2024	14,094
Thereafter	47,500
Total future net intangible amortization expense	$ 126,519

Employee Stock-Based Compensa_3

Employee Stock-Based Compensation - Additional Information (Detail) - 2014 Incentive Plan	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Time Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	714,000
Weighted average grant date fair value, granted | $ / shares	$ 19.23
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	512,000
Stock award granted vesting period	3 years
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	64,000
Time Based Restricted Stock Unit Grants | Share Based Compensation Award Vesting On Second Anniversary
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	85,000
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	53,000
Performance Market and Service Condition Based Restricted Stock Unit Grants
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs Granted	272,000
Stock award granted vesting period	3 years
Weighted average grant date fair value, granted | $ / shares	$ 23.18
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 [Member]
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, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility (company)	40.00%
Expected volatility (peer group median)	40.00%
Correlation between the company and peer group median	0.5
Expected dividend yield	0.00%
Risk-free rate	0.90%

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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
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	3.40%	4.40%	3.30%	4.40%
Stock compensation windfall benefit	(0.20%)	(0.40%)	(1.40%)	(0.30%)
Permanent differences and other	(1.20%)	(2.20%)	(1.60%)	(1.90%)
Total effective rate for continuing operations	23.00%	22.80%	21.30%	23.20%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Mar. 27, 2020	Jun. 30, 2020
Income Tax Disclosure [Abstract]
CARES act, deferred payroll taxes description		Consistent with provisions provided under the CARES act, we have elected to defer the remission of certain payroll taxes through the end of 2020, with 50% of these deferred payroll taxes to be remitted by December 31, 2021 and the remaining 50% due by December 31, 2022.
Additional liquidity amount through cares Act	$ 35

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Jun. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 82.2

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020StoreStatesRegionSegment
Segment Reporting [Abstract]
Number of Locations | Store	400
Number of states | States	40
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, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,945,643	$ 1,904,523	$ 3,732,664	$ 3,535,823
Depreciation & amortization	28,475	23,814	57,875	47,390
Interest	26,812	29,382	78,743	54,283
Income before income taxes	102,443	86,263	111,459	133,253
Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,875,204	1,826,665	3,586,499	3,393,116
Depreciation & amortization	22,262	17,636	44,012	35,052
Interest	26,629	25,649	51,829	51,016
Income before income taxes	114,933	107,626	164,386	160,961
Operating Segments | Northeast
Segment Reporting Information [Line Items]
Net sales	294,214	349,682	589,787	635,471
Depreciation & amortization	3,596	3,249	7,092	6,454
Interest	5,197	5,386	10,128	10,563
Income before income taxes	13,132	18,867	17,748	26,111
Operating Segments | Southeast
Segment Reporting Information [Line Items]
Net sales	450,663	416,080	851,047	802,753
Depreciation & amortization	3,933	3,083	7,776	6,116
Interest	5,800	5,480	11,106	11,062
Income before income taxes	30,943	24,260	47,520	41,516
Operating Segments | South
Segment Reporting Information [Line Items]
Net sales	510,453	473,763	1,010,257	932,372
Depreciation & amortization	6,910	4,887	13,742	9,719
Interest	5,857	5,823	11,521	11,723
Income before income taxes	30,771	28,886	54,128	57,895
Operating Segments | West
Segment Reporting Information [Line Items]
Net sales	619,874	587,140	1,135,408	1,022,520
Depreciation & amortization	7,823	6,417	15,402	12,763
Interest	9,775	8,960	19,074	17,668
Income before income taxes	40,087	35,613	44,990	35,439
All other
Segment Reporting Information [Line Items]
Net sales	70,439	77,858	146,165	142,707
Depreciation & amortization	6,213	6,178	13,863	12,338
Interest	183	3,733	26,914	3,267
Income before income taxes	$ (12,490)	$ (21,363)	$ (52,927)	$ (27,708)