BMC Stock (BMCH) 10-Q 8 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 05, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	BMC Stock Holdings, Inc.
Entity Central Index Key	1,574,815
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		66,427,246

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 6,004	$ 1,089
Accounts receivable, net of allowances	343,364	303,176
Inventories, net	267,371	243,960
Costs in excess of billings on uncompleted contracts	23,590	22,528
Income taxes receivable	5,771	11,390
Prepaid expenses and other current assets	37,274	31,817
Total current assets	683,374	613,960
Property and equipment, net of accumulated depreciation	280,759	295,978
Customer relationship intangible assets, net of accumulated amortization	170,619	177,036
Other intangible assets, net of accumulated amortization	6,784	10,900
Goodwill	254,956	254,664
Other long-term assets	18,053	18,601
Total assets	1,414,545	1,371,139
Current liabilities
Accounts payable	175,450	135,632
Accrued expenses and other liabilities	85,865	91,888
Billings in excess of costs on uncompleted contracts	24,363	15,888
Interest payable	6,915	6,882
Current portion: Long-term debt and capital lease obligations	9,076	10,129
Current portion: Insurance deductible reserves	16,091	17,888
Total current liabilities	317,760	278,307
Insurance deductible reserves	39,457	37,334
Long-term debt	376,631	400,216
Long-term portion of capital lease obligations	15,374	16,495
Deferred income taxes	1,046	3,021
Other long-term liabilities	5,797	6,834
Total liabilities	756,065	742,207
Commitments and contingencies (Note 8)
Stockholders' equity
Preferred stock, $0.01 par value, 50.0 million shares authorized, no shares issued and outstanding at June 30, 2016 and December 31, 2015	0	0
Common stock, $0.01 par value, 300.0 million shares authorized, 66.5 million and 65.4 million shares issued, and 66.4 million and 65.3 million outstanding at June 30, 2016 and December 31, 2015, respectively	665	654
Additional paid-in capital	645,423	626,402
Retained earnings	13,528	2,302
Treasury stock, at cost, 0.1 million and less than 0.1 million shares at June 30, 2016 and December 31, 2015, respectively	(1,136)	(426)
Total stockholders' equity	658,480	628,932
Total liabilities and stockholders' equity	$ 1,414,545	$ 1,371,139

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	66,500,000	65,400,000
Common stock, shares outstanding (in shares)	66,400,000	65,300,000
Treasury stock, shares	100,000	100,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net sales
Building products	$ 601,692	$ 256,404	$ 1,155,071	$ 470,278
Construction services	195,855	100,883	369,894	179,835
Net sales	797,547	357,287	1,524,965	650,113
Cost of sales
Building products	443,366	191,618	863,897	352,431
Construction services	162,526	81,851	302,796	147,167
Cost of sales	605,892	273,469	1,166,693	499,598
Gross profit	191,655	83,818	358,272	150,515
Selling, general and administrative expenses	139,897	67,503	281,678	130,364
Depreciation expense	9,290	3,262	18,082	6,706
Amortization expense	5,288	264	10,533	264
Impairment of assets	0	0	11,883	0
Merger and integration costs	3,597	3,042	6,433	3,042
Total operating expenses	158,072	74,071	328,609	140,376
Income from operations	33,583	9,747	29,663	10,139
Other income (expense)
Interest expense	(8,121)	(6,730)	(16,352)	(13,460)
Other income, net	1,411	347	2,866	1,016
Income (loss) before income taxes	26,873	3,364	16,177	(2,305)
Income tax expense (benefit)	8,891	1,239	4,951	(869)
Net income (loss)	$ 17,982	$ 2,125	$ 11,226	$ (1,436)
Weighted average common shares outstanding
Basic (in shares)	65,839	39,076	65,589	39,024
Diluted (in shares)	66,417	39,306	66,137	39,024
Net income (loss) per common share
Basic (in dollars per share)	$ 0.27	$ 0.05	$ 0.17	$ (0.04)
Diluted (in dollars per share)	$ 0.27	$ 0.05	$ 0.17	$ (0.04)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net income (loss)	$ 11,226	$ (1,436)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation expense	23,288	9,114
Amortization of intangible assets	10,533	264
Amortization of debt issuance costs	1,846	1,158
Amortization of original issue discount	123	121
Amortization of inventory step-up charges	2,884	0
Deferred income taxes	(1,975)	0
Non-cash stock compensation expense	3,693	1,721
Impairment of assets	11,883	0
Gain on sale of property, equipment and real estate	(372)	(659)
Gain on insurance proceeds	(1,003)	0
Change in assets and liabilities
Accounts receivable, net of allowances	(40,188)	(17,078)
Inventories, net	(26,295)	(8,193)
Accounts payable	40,579	6,764
Other assets and liabilities	3,166	(404)
Net cash provided by (used in) operating activities	39,388	(8,628)
Cash flows from investing activities
Change in restricted assets	0	21,013
Purchases of businesses, net of cash acquired	0	(46,958)
Purchases of property, equipment and real estate	(19,522)	(12,994)
Insurance proceeds	1,151	0
Proceeds from sale of property, equipment and real estate	964	1,234
Other investing activities	0	111
Net cash used in investing activities	(17,407)	(37,594)
Cash flows from financing activities
Proceeds from revolving line of credit	790,535	10,000
Repayments of proceeds from revolving line of credit	(813,791)	(10,000)
Borrowings under other notes	0	2,491
Principal payments on other notes	(2,501)	(3,058)
Proceeds from issuance of common stock, net of offering costs	13,614	0
Payments on capital leases obligations	(4,268)	(2,097)
Other financing activities	(655)	(1,030)
Net cash used in financing activities	(17,066)	(3,694)
Net increase (decrease) in cash and cash equivalents	4,915	(49,916)
Cash and cash equivalents
Beginning of period	1,089	63,262
End of period	6,004	13,346
Non-cash investing and financing transactions
Assets acquired under capital lease obligations	$ 3,248	$ 259

Organization

Organization	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization On December 1, 2015, Stock Building Supply Holdings, Inc. (“SBS”, “Legacy SBS”) completed a business combination with privately-held Building Materials Holding Corporation (“BMC”, “Legacy BMC”) in accordance with the terms of the Agreement and Plan of Merger, dated as of June 2, 2015, by and between SBS and BMC (the “Merger Agreement”), pursuant to which BMC merged with and into SBS (the “Merger”). As a result of the business combination, SBS survived the Merger and in connection therewith changed its name to “BMC Stock Holdings, Inc.” These financial statements represent the financial statements of BMC Stock Holdings, Inc., and its subsidiaries. All references to “BMC Stock,” “we,” “us,” “our” or the “Company” mean BMC Stock Holdings, Inc. The Company distributes lumber and building materials to new construction and repair and remodeling contractors. Additionally, we provide solution-based services to our customers, including component design, product specification and installation services.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) that permit reduced disclosure for interim periods. The condensed consolidated balance sheet as of December 31, 2015 was derived from audited financial statements, but does not include all necessary disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The unaudited condensed consolidated financial statements include all accounts of the Company and its subsidiaries and, in the opinion of management, 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. These unaudited financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (“2015 Annual Report on Form 10-K”). Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. All material intercompany accounts and transactions have been eliminated in consolidation. Under GAAP, the Merger was treated as a “reverse merger” under the acquisition method of accounting. For accounting purposes, BMC is considered to have acquired SBS. Consequently, the historical financial statements of the Company reflect only the operations and financial condition of BMC prior to the date of the Merger. The operating results of SBS are reported as part of the Company beginning on the closing date of the Merger. Comprehensive income (loss) Comprehensive income (loss) is equal to the net income (loss) for all periods presented. Recently adopted accounting pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the associated debt liability, consistent with the presentation of debt discounts, instead of as an asset. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, Interest - Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (“ASU 2015-15”). ASU 2015-15 clarifies the treatment of debt issuance costs for line-of-credit arrangements, which was not addressed in ASU 2015-03, by indicating that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-03 and ASU 2015-15 became effective for the Company’s annual and interim periods beginning on January 1, 2016. ASU 2015-03 is required to be applied retrospectively, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of the new guidance. Accordingly, unamortized debt issuance costs related to the Company’s senior secured notes of $4.0 million as of June 30, 2016 have been presented as a direct deduction of long-term debt and unamortized debt issuance costs related to the senior secured notes of $4.9 million as of December 31, 2015 have been reclassified from non-current assets to a direct deduction of long-term debt on the consolidated balance sheets. Unamortized debt issuance costs related to the Company’s revolving line of credit of $3.9 million and $4.6 million as of June 30, 2016 and December 31, 2015, respectively, are reflected in other long-term assets on the consolidated balance sheets as permitted by ASU 2015-15. In March 2016, the FASB issued Accounting Standards Update 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which involves several aspects of the accounting for share-based payment transactions, including 1) recognition of all income tax benefits and deficiencies related to exercised or vested awards in income tax expense, 2) classification of excess tax benefits as an operating activity in the statement of cash flows, 3) the ability of companies to make a policy election as to either estimate forfeitures or account for forfeitures as they occur, 4) stipulation that partial cash settlement for tax-withholding purposes would not result, by itself, in liability classification provided the amount withheld does not exceed the maximum statutory rate for an employee in the applicable jurisdictions and 5) clarification that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. For each provision, the standard indicates whether the provision should be adopted on a retrospective, prospective or modified retrospective basis. ASU 2016-09 is effective for annual and interim periods beginning on or after December 15, 2016, however early adoption is permitted. The Company elected to early adopt this standard during the first quarter of 2016. No provisions that required retrospective or modified retrospective application had a material impact on the Company. As permitted by the standard, the Company has made a policy election to account for forfeitures as they occur. The Company has also elected to apply the guidance related to classification of excess tax benefits on the statement of cash flows prospectively, and therefore prior periods have not been adjusted. Recently issued accounting pronouncements not yet adopted In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), and issued subsequent amendments to the initial guidance within Accounting Standards Update 2016-08, Revenue from Contracts with Customers, Principal versus Agent Considerations (“ASU 2016-08) issued in March 2016, Accounting Standards Update 2016-10, Revenue from Contracts with Customers, Identifying Performance Obligations and Licensing (“ASU 2016-10”) issued in April 2016 and Accounting Standards Update 2016-12, Revenue from Contracts with Customers, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”) issued in May 2016 (ASU 2014-09, ASU 2016-08, ASU 2016-10 and ASU 2016-12 collectively “Topic 606”). Topic 606 provides a comprehensive revenue recognition model requiring companies to recognize revenue for the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In July 2015, the FASB voted to defer the effective date of the standard by one year, and therefore the standard is effective for the Company’s annual and interim periods beginning on January 1, 2018. Early application is permitted, but only for the Company’s annual and interim periods beginning on January 1, 2017. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are evaluating the impact of the standard on our financial statements. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). ASU 2015-11 requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Prior to the issuance of the standard, inventory was measured at the lower of cost or market, where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin. Inventory measured using last-in, first-out (LIFO) and the retail inventory method are not impacted by the new guidance. Prospective application is required and early adoption is permitted. ASU 2015-11 is effective for the Company’s annual and interim periods beginning on January 1, 2017. We are evaluating the impact of the standard on our financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases ("ASU 2016-02"). The new standard establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 is effective for the Company's annual and interim periods beginning on January 1, 2019. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are evaluating the impact of the standard on our financial statements. Reclassifications and other adjustment In prior years, the Company included changes in book overdrafts as a financing activity on its consolidated statements of cash flows. Book overdrafts relate primarily to checks issued that have not been presented for payment to the bank, and are classified in accounts payable on the consolidated balance sheets. The Company has reclassified changes in book overdrafts for the six months ended June 30, 2015 from a financing activity to an operating activity to conform to the current year presentation. The effect of this reclassification on net cash flows from operating and financing activities as previously presented on the consolidated statements of cash flows for the six months ended June 30, 2015 is as follows: (in thousands) Six Months Ended June 30, 2015, As Previously Presented Reclassification Amount Six Months Ended June 30, 2015, As Reclassified Net cash used in operating activities $ (5,682 ) $ (2,946 ) $ (8,628 ) Net cash used in financing activities (6,640 ) 2,946 (3,694 ) In its Annual Report on Form 10-K for the year ended December 31, 2015, the Company disclosed certain reclassifications to its condensed consolidated balance sheet as of December 31, 2014. These reclassifications were similarly reflected for the six months ended June 30, 2015 for purposes of presenting the condensed consolidated statement of cash flows for the six months ended June 30, 2015, included herein. During the six months ended June 30, 2016 , the Company recorded an out-of-period expense of approximately $0.7 million in selling, general and administrative costs and a corresponding increase to accrued expenses and other liabilities to correct an error in the calculation of deferred rent. The Company has determined the adjustment is not material to the current period or any previously issued financial statements.

Acquisition of VNS Corporation

Acquisition of VNS Corporation	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisition of VNS Corporation	Acquisition of VNS Corporation On May 1, 2015 , Legacy BMC completed the acquisition of Vidalia, Georgia-based VNS Corporation (“VNS”), enabling Legacy BMC to expand its product offerings into the southeastern United States. Legacy BMC funded the transaction through the use of available cash and borrowings on Legacy BMC’s revolving line of credit. The final purchase price was $47.1 million , net of $2.3 million of acquired cash. The acquisition was accounted for using the acquisition method of accounting under ASC 805, Business Combinations. The allocated fair values of acquired assets and assumed liabilities is summarized as follows: (in thousands) Cash $ 2,344 Accounts receivable 19,594 Inventories 10,665 Prepaid expenses and other current assets 952 Property and equipment 11,643 Customer relationships 10,000 Trademarks 850 Other long-term assets 59 Accounts payable (7,464 ) Accrued payable and other accrued liabilities (4,087 ) Deferred taxes (4,364 ) Identifiable net assets acquired 40,192 Goodwill 9,287 Total net assets acquired $ 49,479 Inventory and property and equipment were valued using the cost approach and/or market approach, customer relationships were valued using the excess earnings method and trademarks were valued using the relief from royalty method. The customer relationships and trademarks are being amortized over periods of 10 years and 2 years , respectively. Goodwill represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce and non-contractual relationships, as well as expected future synergies. None of the goodwill recognized is expected to be be deductible for tax purposes. Net sales and estimated pre-tax income of VNS included in the consolidated statements of operations were $24.8 million and $0.6 million , respectively, for the three and six months ended June 30, 2015. Pro Forma Financial Information The following unaudited pro forma combined results of operations give effect to the acquisition of VNS by the Company as if VNS had been acquired on January 1, 2014, the beginning of the annual period prior to the acquisition date, applying certain assumptions and pro forma adjustments. The unaudited pro forma consolidated results are provided for illustrative purposes only and are not indicative of the Company’s actual results of operations or consolidated financial financial position. The unaudited pro forma results of operations do not reflect any operating efficiencies or potential cost savings that may result from the acquisition of VNS. Unaudited pro forma financial information is as follows: (in thousands, except per share data) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Net sales $ 364,868 $ 687,098 Net income 2,039 (761 ) Basic net income per share 0.05 (0.02 ) Diluted net income per share 0.05 (0.02 )

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable consist of the following at June 30, 2016 and December 31, 2015 : (in thousands) June 30, December 31, Trade receivables $ 353,974 $ 311,932 Allowance for doubtful accounts (3,460 ) (2,357 ) Other allowances (7,150 ) (6,399 ) $ 343,364 $ 303,176

Impairment of Legacy BMC ERP Sy

Impairment of Legacy BMC ERP System Impairment of Legacy BMC ERP System	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Impairment of Legacy BMC ERP System	Impairment of Legacy BMC ERP System During 2013, Legacy BMC selected a new third-party software vendor as its planned Enterprise Resource Planning (“New ERP”) system and began incurring costs related to design, development and implementation of the New ERP. The Company also began paying an annual licensing fee. During March 2016, the Company decided to integrate all operations under the Enterprise Resource Planning system utilized by Legacy SBS (the “Legacy SBS ERP system”) and to discontinue use of the New ERP. In connection with this decision, the Company recorded asset impairment charges of approximately $11.9 million in its condensed consolidated statement of operations for the six months ended June 30, 2016 related to capitalized software development costs for New ERP functionality that the Company had intended to implement in future periods. These costs had previously been recorded as construction-in-progress within property and equipment on the condensed consolidated balance sheets. As of June 30, 2016 , the Company had approximately $0.6 million of unamortized prepaid expenses related to the New ERP recorded within prepaid expenses and other current assets on its condensed consolidated balance sheet. These unamortized prepaid expenses relate to license and service contracts that will continue to be utilized by the Company until the time the Company ceases using the New ERP system. The Company is also obligated under a non-cancellable agreement to make future payments through 2017 of approximately $4.0 million related to New ERP software licenses. The Company may be required to accelerate the expense recognition of any unamortized prepaid costs and future contractual costs once we cease using the New ERP.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt Long-term debt as of June 30, 2016 and December 31, 2015 consists of the following: (in thousands) June 30, December 31, Revolving credit agreement $ 129,004 $ 152,260 Senior secured notes 250,000 250,000 Other 3,765 6,266 382,769 408,526 Unamortized debt issuance costs related to senior secured notes (3,974 ) (4,869 ) Unamortized original issue discount (541 ) (664 ) 378,254 402,993 Less: Current portion of long-term debt 1,623 2,777 $ 376,631 $ 400,216 Revolving Credit Agreement On December 1, 2015, in connection with the Merger, we entered into a senior secured credit agreement with Wells Fargo Capital Finance (the “Credit Agreement”), which includes a revolving line of credit (the “Revolver”). We had outstanding borrowings under the Revolver of $129.0 million with net availability of $187.9 million as of June 30, 2016 . The interest rate on outstanding LIBOR Rate borrowings of $101.0 million was 2.0% , the interest rate on outstanding Base Rate borrowings of $5.4 million was 4.0% and the interest rate on outstanding FILO borrowings of $22.6 million ranged from 2.7% to 4.8% as of June 30, 2016 . We had $70.3 million in letters of credit outstanding under the Credit Agreement as of June 30, 2016 . The carrying value of the Revolver at June 30, 2016 approximates fair value as the Revolver contains a variable interest rate. As such, the fair value of the Revolver was classified as a Level 2 measurement in accordance with ASC 820. Senior Secured Notes On September 20, 2013, Legacy BMC issued $250.0 million of senior secured notes (the "Senior Notes"). The interest rate on the Senior Notes is fixed at 9.0% and is payable semiannually in March and September. As of June 30, 2016 , the estimated market value of the Senior Notes was $10.3 million more than the carrying amount. The fair value is based on institutional trading activity and was classified as a Level 2 measurement in accordance with ASC 820. Other Other long-term debt consists of $3.3 million of term notes secured by delivery and handling equipment with various maturities through November 2018 and a $0.5 million term note secured by real property with a maturity of March 2021 . The interest rates range from 4.3% to 7.0% . Interest is paid monthly. The estimated market value of other long-term debt approximates the carrying amount.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company evaluates its deferred tax assets quarterly to determine if valuation allowances are required. In assessing the realizability of deferred tax assets, the Company considers both positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company had a valuation allowance of $0.1 million against its deferred tax assets related to certain state tax jurisdictions as of June 30, 2016 and December 31, 2015. To the extent the Company generates future tax net operating losses, the Company may be required to increase the valuation allowance on deferred tax assets, which may unfavorably impact the effective tax rate. The Company has recorded a liability for uncertain tax positions of $0.2 million and $3.0 million within income taxes receivable on the condensed consolidated balance sheets as of June 30, 2016 and December 31, 2015, respectively, related to the Company’s tax accounting method to accelerate certain temporary tax deductions on its 2014 federal and state income tax returns. During the three months ended June 30, 2016, the Company filed applications to change its tax accounting method for certain temporary tax deductions with the Internal Revenue Service. From such filings, the Company believes these tax accounting methods are more likely than not to be recognized; therefore, the Company decreased its liability for uncertain tax positions by $2.8 million with a corresponding increase to its deferred income tax liability. For the three and six months ended June 30, 2016, the effective tax rate was 33.1% and 30.6% , respectively, which varied from the federal statutory rate of 35% primarily due to the excess tax windfall benefit from stock compensation and a permanent domestic manufacturing deduction under Internal Revenue Code Section 199 (the “Manufacturing Deduction”). For the three and six months ended June 30, 2015, the effective tax rate from continuing operations was 36.8% and 37.7% , respectively, which varied from the federal statutory rate of 35% primarily due to state taxes.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, various claims, legal proceedings and litigation are asserted or commenced against the Company principally arising from alleged product liability, warranty, casualty, construction defect, contract, tort, employment and other disputes. In determining loss contingencies, management considers the likelihood of loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recorded when it is considered probable that such a liability has been incurred and when the amount of loss can be reasonably estimated. It is not certain that the Company will prevail in these matters. However, the Company does not currently believe that the ultimate outcome of any pending matters will have a material adverse effect on its consolidated financial position, results of operations or cash flows.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation	Stock Based Compensation The following table highlights the expense related to stock based compensation for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Restricted stock $ 284 $ 873 $ 976 $ 1,721 Restricted stock units 1,257 — 2,138 — Stock options 263 — 579 — Stock based compensation $ 1,804 $ 873 $ 3,693 $ 1,721 During the six months ended June 30, 2016 , the Company granted 75,000 restricted stock units to an executive that vest 1/3 each on December 31, 2016, 2017 and 2018 as well as performance-based restricted stock units that vest on December 31, 2018. The grant date fair value of the restricted stock units and performance-based restricted stock units was $16.35 . The number of performance-based restricted stock units that are issued on the vesting date could range from zero to a maximum of 206,250 , based upon the Company’s cumulative Adjusted EBITDA over the three year period from January 1, 2016 through December 31, 2018. As of June 30, 2016 , the Company expects that 82,500 of the performance-based restricted stock awards will vest.

Segments

Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segments	Segments ASC 280, Segment Reporting, defines operating segments as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s operating segments consist of the Mid-Atlantic, Southeast, Texas, Intermountain, Western and Mountain West divisions. Due to the similar economic characteristics, nature of products, distribution methods and customers, the Company has aggregated our operating segments into one reportable segment, “Geographic divisions.” In addition to our reportable segment, the Company’s consolidated results include “Other reconciling items.” Other reconciling items is comprised of our corporate activities. The following tables present Net Sales, Adjusted EBITDA and certain other measures for the reportable segment and total Company operations for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, 2016 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 797,547 $ 191,655 $ 15,945 $ 67,717 Other reconciling items — — 1,194 (10,183 ) $ 797,547 $ 191,655 $ 17,139 Three Months Ended June 30, 2015 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 357,287 $ 83,818 $ 4,663 $ 29,743 Other reconciling items — — 87 (8,957 ) $ 357,287 $ 83,818 $ 4,750 Six Months Ended June 30, 2016 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,524,965 $ 358,272 $ 31,551 $ 120,696 Other reconciling items — — 2,270 (29,453 ) $ 1,524,965 $ 358,272 $ 33,821 Six Months Ended June 30, 2015 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 650,113 $ 150,515 $ 9,160 $ 49,756 Other reconciling items — — 218 (17,319 ) $ 650,113 $ 150,515 $ 9,378 Reconciliation to consolidated financial statements: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Income (loss) before income taxes $ 26,873 $ 3,364 $ 16,177 $ (2,305 ) Interest expense 8,121 6,730 16,352 13,460 Depreciation and amortization 17,139 4,750 33,821 9,378 Impairment of assets — — 11,883 — Merger and integration costs 3,597 3,042 6,433 3,042 Inventory step-up charges — — 2,884 — Non-cash stock compensation expense 1,804 873 3,693 1,721 Headquarters relocation — 1,075 — 2,452 Insurance deductible reserve adjustments — (13 ) — 365 Loss portfolio transfer — — — 2,826 Acquisition costs and other items — 965 — 1,498 Adjusted EBITDA of other reconciling items 10,183 8,957 29,453 17,319 Adjusted EBITDA of geographic divisions reportable segment $ 67,717 $ 29,743 $ 120,696 $ 49,756

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net income per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding during the period. Diluted EPS is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury-stock method. For purposes of the diluted EPS calculation, stock options, restricted stock and restricted stock unit awards are considered to be potential common shares. During periods of net loss, no effect is given to potential common shares as they are anti-dilutive. Performance-based restricted stock units are not included in the calculation of diluted EPS until they are contingently issuable. The basic and diluted EPS calculations for the three and six months ended June 30, 2016 and 2015 are presented below: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Income (loss) attributable to common stockholders $ 17,982 $ 2,125 $ 11,226 $ (1,436 ) Weighted average common shares outstanding, basic 65,839 39,076 65,589 39,024 Effect of dilutive securities: Restricted stock 229 230 258 — Restricted stock units 117 — 66 — Stock options 232 — 224 — Weighted average common shares outstanding, diluted 66,417 39,306 66,137 39,024 Basic income (loss) per share $ 0.27 $ 0.05 $ 0.17 $ (0.04 ) Diluted income (loss) per share $ 0.27 $ 0.05 $ 0.17 $ (0.04 ) The following table provides the securities that could potentially dilute EPS in the future, but were not included in the computation of diluted EPS for the periods presented because to do so would have been anti-dilutive. The amounts included in this table exclude performance-based restricted stock units. The number of currently outstanding performance-based restricted stock units that are issued upon vesting could range from zero to a maximum of 206,250 . Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Restricted stock — 99 — 543 Restricted stock units 27 — 27 — Stock options 577 — 577 —

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of Presentation The condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) that permit reduced disclosure for interim periods. The condensed consolidated balance sheet as of December 31, 2015 was derived from audited financial statements, but does not include all necessary disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The unaudited condensed consolidated financial statements include all accounts of the Company and its subsidiaries and, in the opinion of management, 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. These unaudited financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (“2015 Annual Report on Form 10-K”). Results for interim periods are not necessarily indicative of the results to be expected during the remainder of the current year or for any future period. All material intercompany accounts and transactions have been eliminated in consolidation. Under GAAP, the Merger was treated as a “reverse merger” under the acquisition method of accounting. For accounting purposes, BMC is considered to have acquired SBS. Consequently, the historical financial statements of the Company reflect only the operations and financial condition of BMC prior to the date of the Merger. The operating results of SBS are reported as part of the Company beginning on the closing date of the Merger.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) is equal to the net income (loss) for all periods presented.
Recently issued accounting pronouncements	Recently adopted accounting pronouncements In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the associated debt liability, consistent with the presentation of debt discounts, instead of as an asset. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, Interest - Imputation of Interest: Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (“ASU 2015-15”). ASU 2015-15 clarifies the treatment of debt issuance costs for line-of-credit arrangements, which was not addressed in ASU 2015-03, by indicating that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-03 and ASU 2015-15 became effective for the Company’s annual and interim periods beginning on January 1, 2016. ASU 2015-03 is required to be applied retrospectively, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of the new guidance. Accordingly, unamortized debt issuance costs related to the Company’s senior secured notes of $4.0 million as of June 30, 2016 have been presented as a direct deduction of long-term debt and unamortized debt issuance costs related to the senior secured notes of $4.9 million as of December 31, 2015 have been reclassified from non-current assets to a direct deduction of long-term debt on the consolidated balance sheets. Unamortized debt issuance costs related to the Company’s revolving line of credit of $3.9 million and $4.6 million as of June 30, 2016 and December 31, 2015, respectively, are reflected in other long-term assets on the consolidated balance sheets as permitted by ASU 2015-15. In March 2016, the FASB issued Accounting Standards Update 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which involves several aspects of the accounting for share-based payment transactions, including 1) recognition of all income tax benefits and deficiencies related to exercised or vested awards in income tax expense, 2) classification of excess tax benefits as an operating activity in the statement of cash flows, 3) the ability of companies to make a policy election as to either estimate forfeitures or account for forfeitures as they occur, 4) stipulation that partial cash settlement for tax-withholding purposes would not result, by itself, in liability classification provided the amount withheld does not exceed the maximum statutory rate for an employee in the applicable jurisdictions and 5) clarification that cash paid by an employer to a taxing authority when directly withholding shares for tax-withholding purposes should be classified as a financing activity on the statement of cash flows. For each provision, the standard indicates whether the provision should be adopted on a retrospective, prospective or modified retrospective basis. ASU 2016-09 is effective for annual and interim periods beginning on or after December 15, 2016, however early adoption is permitted. The Company elected to early adopt this standard during the first quarter of 2016. No provisions that required retrospective or modified retrospective application had a material impact on the Company. As permitted by the standard, the Company has made a policy election to account for forfeitures as they occur. The Company has also elected to apply the guidance related to classification of excess tax benefits on the statement of cash flows prospectively, and therefore prior periods have not been adjusted. Recently issued accounting pronouncements not yet adopted In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), and issued subsequent amendments to the initial guidance within Accounting Standards Update 2016-08, Revenue from Contracts with Customers, Principal versus Agent Considerations (“ASU 2016-08) issued in March 2016, Accounting Standards Update 2016-10, Revenue from Contracts with Customers, Identifying Performance Obligations and Licensing (“ASU 2016-10”) issued in April 2016 and Accounting Standards Update 2016-12, Revenue from Contracts with Customers, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”) issued in May 2016 (ASU 2014-09, ASU 2016-08, ASU 2016-10 and ASU 2016-12 collectively “Topic 606”). Topic 606 provides a comprehensive revenue recognition model requiring companies to recognize revenue for the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In July 2015, the FASB voted to defer the effective date of the standard by one year, and therefore the standard is effective for the Company’s annual and interim periods beginning on January 1, 2018. Early application is permitted, but only for the Company’s annual and interim periods beginning on January 1, 2017. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are evaluating the impact of the standard on our financial statements. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”). ASU 2015-11 requires that inventory within the scope of the guidance be measured at the lower of cost and net realizable value. Prior to the issuance of the standard, inventory was measured at the lower of cost or market, where market was defined as replacement cost, with a ceiling of net realizable value and floor of net realizable value less a normal profit margin. Inventory measured using last-in, first-out (LIFO) and the retail inventory method are not impacted by the new guidance. Prospective application is required and early adoption is permitted. ASU 2015-11 is effective for the Company’s annual and interim periods beginning on January 1, 2017. We are evaluating the impact of the standard on our financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases ("ASU 2016-02"). The new standard establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02 is effective for the Company's annual and interim periods beginning on January 1, 2019. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are evaluating the impact of the standard on our financial statements.
Reclassifications	Reclassifications and other adjustment In prior years, the Company included changes in book overdrafts as a financing activity on its consolidated statements of cash flows. Book overdrafts relate primarily to checks issued that have not been presented for payment to the bank, and are classified in accounts payable on the consolidated balance sheets. The Company has reclassified changes in book overdrafts for the six months ended June 30, 2015 from a financing activity to an operating activity to conform to the current year presentation.

Income Taxes (Policies)

Income Taxes (Policies)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income Taxes The Company evaluates its deferred tax assets quarterly to determine if valuation allowances are required. In assessing the realizability of deferred tax assets, the Company considers both positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.

Commitments and Contingencies (

Commitments and Contingencies (Policies)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and Contingencies From time to time, various claims, legal proceedings and litigation are asserted or commenced against the Company principally arising from alleged product liability, warranty, casualty, construction defect, contract, tort, employment and other disputes. In determining loss contingencies, management considers the likelihood of loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recorded when it is considered probable that such a liability has been incurred and when the amount of loss can be reasonably estimated.

Earnings Per Share (Policies)

Earnings Per Share (Policies)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share	Earnings Per Share Basic net income per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding during the period. Diluted EPS is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury-stock method. For purposes of the diluted EPS calculation, stock options, restricted stock and restricted stock unit awards are considered to be potential common shares. During periods of net loss, no effect is given to potential common shares as they are anti-dilutive. Performance-based restricted stock units are not included in the calculation of diluted EPS until they are contingently issuable.

Basis of Presentation Summary o

Basis of Presentation Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	The effect of this reclassification on net cash flows from operating and financing activities as previously presented on the consolidated statements of cash flows for the six months ended June 30, 2015 is as follows: (in thousands) Six Months Ended June 30, 2015, As Previously Presented Reclassification Amount Six Months Ended June 30, 2015, As Reclassified Net cash used in operating activities $ (5,682 ) $ (2,946 ) $ (8,628 ) Net cash used in financing activities (6,640 ) 2,946 (3,694 )

Acquisition of VNS Corporation

Acquisition of VNS Corporation Acquisition of VNS Corporation (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The allocated fair values of acquired assets and assumed liabilities is summarized as follows: (in thousands) Cash $ 2,344 Accounts receivable 19,594 Inventories 10,665 Prepaid expenses and other current assets 952 Property and equipment 11,643 Customer relationships 10,000 Trademarks 850 Other long-term assets 59 Accounts payable (7,464 ) Accrued payable and other accrued liabilities (4,087 ) Deferred taxes (4,364 ) Identifiable net assets acquired 40,192 Goodwill 9,287 Total net assets acquired $ 49,479
Pro Forma Information [Table Text Block]	Unaudited pro forma financial information is as follows: (in thousands, except per share data) Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Net sales $ 364,868 $ 687,098 Net income 2,039 (761 ) Basic net income per share 0.05 (0.02 ) Diluted net income per share 0.05 (0.02 )

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Schedule of accounts receivable	Accounts receivable consist of the following at June 30, 2016 and December 31, 2015 : (in thousands) June 30, December 31, Trade receivables $ 353,974 $ 311,932 Allowance for doubtful accounts (3,460 ) (2,357 ) Other allowances (7,150 ) (6,399 ) $ 343,364 $ 303,176

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Long-term debt as of June 30, 2016 and December 31, 2015 consists of the following: (in thousands) June 30, December 31, Revolving credit agreement $ 129,004 $ 152,260 Senior secured notes 250,000 250,000 Other 3,765 6,266 382,769 408,526 Unamortized debt issuance costs related to senior secured notes (3,974 ) (4,869 ) Unamortized original issue discount (541 ) (664 ) 378,254 402,993 Less: Current portion of long-term debt 1,623 2,777 $ 376,631 $ 400,216

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of expenses related to share-based payments	The following table highlights the expense related to stock based compensation for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Restricted stock $ 284 $ 873 $ 976 $ 1,721 Restricted stock units 1,257 — 2,138 — Stock options 263 — 579 — Stock based compensation $ 1,804 $ 873 $ 3,693 $ 1,721

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of net sales, adjusted EBITDA and certain other measures by reportable segment	The following tables present Net Sales, Adjusted EBITDA and certain other measures for the reportable segment and total Company operations for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, 2016 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 797,547 $ 191,655 $ 15,945 $ 67,717 Other reconciling items — — 1,194 (10,183 ) $ 797,547 $ 191,655 $ 17,139 Three Months Ended June 30, 2015 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 357,287 $ 83,818 $ 4,663 $ 29,743 Other reconciling items — — 87 (8,957 ) $ 357,287 $ 83,818 $ 4,750 Six Months Ended June 30, 2016 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,524,965 $ 358,272 $ 31,551 $ 120,696 Other reconciling items — — 2,270 (29,453 ) $ 1,524,965 $ 358,272 $ 33,821 Six Months Ended June 30, 2015 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 650,113 $ 150,515 $ 9,160 $ 49,756 Other reconciling items — — 218 (17,319 ) $ 650,113 $ 150,515 $ 9,378
Reconciliation to consolidated financial statements	Reconciliation to consolidated financial statements: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Income (loss) before income taxes $ 26,873 $ 3,364 $ 16,177 $ (2,305 ) Interest expense 8,121 6,730 16,352 13,460 Depreciation and amortization 17,139 4,750 33,821 9,378 Impairment of assets — — 11,883 — Merger and integration costs 3,597 3,042 6,433 3,042 Inventory step-up charges — — 2,884 — Non-cash stock compensation expense 1,804 873 3,693 1,721 Headquarters relocation — 1,075 — 2,452 Insurance deductible reserve adjustments — (13 ) — 365 Loss portfolio transfer — — — 2,826 Acquisition costs and other items — 965 — 1,498 Adjusted EBITDA of other reconciling items 10,183 8,957 29,453 17,319 Adjusted EBITDA of geographic divisions reportable segment $ 67,717 $ 29,743 $ 120,696 $ 49,756

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of basic and diluted EPS calculations	The basic and diluted EPS calculations for the three and six months ended June 30, 2016 and 2015 are presented below: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Income (loss) attributable to common stockholders $ 17,982 $ 2,125 $ 11,226 $ (1,436 ) Weighted average common shares outstanding, basic 65,839 39,076 65,589 39,024 Effect of dilutive securities: Restricted stock 229 230 258 — Restricted stock units 117 — 66 — Stock options 232 — 224 — Weighted average common shares outstanding, diluted 66,417 39,306 66,137 39,024 Basic income (loss) per share $ 0.27 $ 0.05 $ 0.17 $ (0.04 ) Diluted income (loss) per share $ 0.27 $ 0.05 $ 0.17 $ (0.04 )
Schedule of anti-dilutive securities excluded from computation of earnings per share	The following table provides the securities that could potentially dilute EPS in the future, but were not included in the computation of diluted EPS for the periods presented because to do so would have been anti-dilutive. The amounts included in this table exclude performance-based restricted stock units. The number of currently outstanding performance-based restricted stock units that are issued upon vesting could range from zero to a maximum of 206,250 . Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Restricted stock — 99 — 543 Restricted stock units 27 — 27 — Stock options 577 — 577 —

Basis of Presentation Summary28

Basis of Presentation Summary of Significant Accounting Policies (Prior Period Adjustments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash used in operating activities	$ 39,388	$ (8,628)
Net cash used in financing activities	$ (17,066)	(3,694)
Previously presented [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net cash used in operating activities		(5,682)
Net cash used in financing activities		(6,640)
Reclassification [Member] | Operating Activities [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (Decrease) in Book Overdrafts		(2,946)
Reclassification [Member] | Financing Activities [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (Decrease) in Book Overdrafts		$ 2,946

Basis of Presentation Summary29

Basis of Presentation Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Organization Consolidation And Presentation [Line Items]
Debt issuance cost	$ 3,974	$ 4,869
Senior secured notes [Member] | Long-term debt [Member]
Organization Consolidation And Presentation [Line Items]
Debt issuance cost	3,974	4,869
Revolving credit agreement [Member] | Other assets [Member]
Organization Consolidation And Presentation [Line Items]
Debt issuance cost	3,900	$ 4,600
Rent Expense Not Previously Recognized [Member] | Selling, general and administrative expenses [Member]
Organization Consolidation And Presentation [Line Items]
Out-of-period expense	700
Rent Expense Not Previously Recognized [Member] | Accrued expenses and other liabilities [Member]
Organization Consolidation And Presentation [Line Items]
Out-of-period expense	$ (700)

Acquisition of VNS Corporatio30

Acquisition of VNS Corporation Acquisition of VNS Corporation (Net Assets Acquired) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	May 01, 2015
Business Acquisition [Line Items]
Goodwill	$ 254,956	$ 254,664
VNS [Member]
Business Acquisition [Line Items]
Cash			$ 2,344
Accounts receivable			19,594
Inventories			10,665
Prepaid expense and other current assets			952
Property and equipment			11,643
Other long-term assets			59
Accounts payable			(7,464)
Accrued payable and other accrued liabilities			(4,087)
Deferred taxes			(4,364)
Identifiable net assets acquired			40,192
Goodwill			9,287
Total net assets acquired			49,479
Customer relationships [Member] | VNS [Member]
Business Acquisition [Line Items]
Intangible assets			10,000
Trademarks [Member] | VNS [Member]
Business Acquisition [Line Items]
Intangible assets			$ 850

Acquisition of VNS Corporatio31

Acquisition of VNS Corporation Acquisition of VNS Corporation (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Business Combinations [Abstract]
Business Acquisition, Pro Forma Revenue	$ 364,868	$ 687,098
Business Acquisition, Pro Forma Net Income (Loss)	$ 2,039	$ (761)
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0.05	$ (0.02)
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0.05	$ (0.02)

Acquisition of VNS Corporatio32

Acquisition of VNS Corporation (Narrative) (Details) - USD ($)	May 01, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Date of acquisition				May 1, 2015
Net sales		$ 797,547,000	$ 357,287,000	$ 1,524,965,000	$ 650,113,000
Income before income taxes		$ 26,873,000	3,364,000	$ 16,177,000	(2,305,000)
VNS [Member]
Business Acquisition [Line Items]
Purchase Price	$ 47,100,000
Cash acquired	2,344,000
Goodwill recognized expected to be deductible for tax	$ 0
Net sales			24,800,000		24,800,000
Income before income taxes			$ 600,000		$ 600,000
Customer relationships [Member] | VNS [Member]
Business Acquisition [Line Items]
Useful life	10 years
Intangible assets acquired	$ 10,000,000
Trademarks [Member] | VNS [Member]
Business Acquisition [Line Items]
Useful life	2 years
Intangible assets acquired	$ 850,000

Accounts Receivable (Accounts R

Accounts Receivable (Accounts Receivable) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Receivables [Abstract]
Trade receivables	$ 353,974	$ 311,932
Allowance for doubtful accounts	(3,460)	(2,357)
Other allowances	(7,150)	(6,399)
Accounts receivable, net	$ 343,364	$ 303,176

Impairment of Legacy BMC ERP 34

Impairment of Legacy BMC ERP System Impairment of Legacy BMC ERP System (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Line Items]
Impairment of assets	$ 0	$ 0	$ 11,883	$ 0
ERP System [Member]
Property, Plant and Equipment [Line Items]
Impairment of assets			11,883
Purchase Obligation	4,000		4,000
ERP System [Member] | Prepaid expenses and other current assets [Member]
Property, Plant and Equipment [Line Items]
Unamortized prepaid license and service contract expenses	$ 600		$ 600

Debt (Debt Table) (Details)

Debt (Debt Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt, gross	$ 382,769	$ 408,526
Unamortized debt issuance costs related to senior secured notes	(3,974)	(4,869)
Unamortized original issue discount	(541)	(664)
Total debt	378,254	402,993
Less: Current portion of long-term debt	1,623	2,777
Long-term debt	376,631	400,216
Revolving credit agreement [Member]
Debt Instrument [Line Items]
Long-term debt, gross	129,004	152,260
Senior secured notes [Member]
Debt Instrument [Line Items]
Long-term debt, gross	250,000	250,000
Other debt [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,765	$ 6,266

Debt Debt (Narrative) (Details)

Debt Debt (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Outstanding borrowings	$ 382,769	$ 408,526
Revolving credit agreement [Member]
Debt Instrument [Line Items]
Outstanding borrowings	129,004	152,260
Senior secured notes [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 250,000	250,000
Interest rate	9.00%
Fair value in excess of carrying value	$ 10,300
Other debt [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 3,765	$ 6,266
Other debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	4.30%
Other debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	7.00%
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 129,004
Net availability	187,900
Letters of credit outstanding	70,300
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member] | LIBOR Rate [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 101,000
Interest rate	2.00%
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 5,400
Interest rate	4.00%
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member] | FILO [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 22,600
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member] | FILO [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	2.70%
Wells Fargo Capital Finance [Member] | Revolving credit agreement [Member] | FILO [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	4.80%
Secured By Equipment [Member] | Other debt [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 3,300
Secured By Equipment [Member] | Other debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maturity date	Nov. 30, 2018
Secured By Property [Member] | Other debt [Member]
Debt Instrument [Line Items]
Maturity date	Mar. 31, 2021
Outstanding borrowings	$ 500

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Contingency [Line Items]
Valuation allowance	$ 0.1		$ 0.1		$ 0.1
Income tax expense at statutory rate	35.00%	35.00%	35.00%	35.00%
Effective income tax rate on continuing operations	33.10%	36.80%	30.60%	37.70%
Decrease in uncertain tax positions			$ 2.8
Income taxes receivable [Member]
Income Tax Contingency [Line Items]
Uncertain tax positions	$ 0.2		$ 0.2		$ 3

Stock Based Compensation (Stock

Stock Based Compensation (Stock based compensation expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 1,804	$ 873	$ 3,693	$ 1,721
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	284	873	976	1,721
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	1,257	0	2,138	0
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	$ 263	$ 0	$ 579	$ 0

Stock Based Compensation (Summa

Stock Based Compensation (Summary of restricted stock and restricted stock units) (Details)	6 Months Ended
	Jun. 30, 2016shares
Restricted stock units [Member]
Number of shares/units outstanding (in shares):
Granted (in shares)	75,000

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2016$ / sharesshares	Jun. 30, 2016$ / sharesshares
Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in dollars per share) | $ / shares	$ 16.35	$ 16.35
Award vesting period (in years)		3 years
Number of shares expected to vest (in shares)	82,500	82,500
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted		75,000
Minimum [Member] | Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based shares available for vesting		0
Maximum [Member] | Performance shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based shares available for vesting		206,250
12/31/2016 (Tranche 1) [Member] | Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percent	33.30%
12/31/2017 (Tranche 2) [Member] | Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percent	33.30%
12/31/2018 (Tranche 3) [Member] | Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percent	33.30%

Segments (Schedule of net sales

Segments (Schedule of net sales, adjusted EBITDA and certain other measures by reportable segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales	$ 797,547	$ 357,287	$ 1,524,965	$ 650,113
Gross profit	191,655	83,818	358,272	150,515
Depreciation & amortization	17,139	4,750	33,821	9,378
Operating segments [Member] | Geographic divisions [Member]
Segment Reporting Information [Line Items]
Net sales	797,547	357,287	1,524,965	650,113
Gross profit	191,655	83,818	358,272	150,515
Depreciation & amortization	15,945	4,663	31,551	9,160
Adjusted EBITDA	67,717	29,743	120,696	49,756
Other reconciling items [Member] | Other reconciling items [Member]
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Gross profit	0	0	0	0
Depreciation & amortization	1,194	87	2,270	218
Adjusted EBITDA	$ (10,183)	$ (8,957)	$ (29,453)	$ (17,319)

Segments (Reconciliation of adj

Segments (Reconciliation of adjusted EBITDA to consolidated financial statements) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	$ 26,873	$ 3,364	$ 16,177	$ (2,305)
Interest expense	8,121	6,730	16,352	13,460
Depreciation and amortization	17,139	4,750	33,821	9,378
Impairment of assets	0	0	11,883	0
Merger and integration costs	3,597	3,042	6,433	3,042
Inventory step-up charges	0	0	2,884	0
Non-cash stock compensation expense	1,804	873	3,693	1,721
Headquarters relocation	0	1,075	0	2,452
Insurance deductible reserve adjustments	0	(13)	0	365
Loss portfolio transfer	0	0	0	2,826
Acquisition costs and other items	0	965	0	1,498
Other reconciling items [Member] | Other reconciling items [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization	1,194	87	2,270	218
Adjusted EBITDA	10,183	8,957	29,453	17,319
Operating segments [Member] | Geographic divisions [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization	15,945	4,663	31,551	9,160
Adjusted EBITDA	$ (67,717)	$ (29,743)	$ (120,696)	$ (49,756)

Segments (Narrative) (Details)

Segments (Narrative) (Details)	6 Months Ended
	Jun. 30, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	1

Earnings Per Share (Basic and D

Earnings Per Share (Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Income (loss) attributable to common stockholders	$ 17,982	$ 2,125	$ 11,226	$ (1,436)
Weighted average outstanding shares of common stock (in shares)	65,839	39,076	65,589	39,024
Weighted average shares and dilutive shares (in shares)	66,417	39,306	66,137	39,024
Basic EPS
Net income per share (in dollars per share)	$ 0.27	$ 0.05	$ 0.17	$ (0.04)
Diluted EPS
Net income per share (in dollars per share)	$ 0.27	$ 0.05	$ 0.17	$ (0.04)
Restricted stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	229	230	258	0
Stock options [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	232	0	224	0
Restricted stock units [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	117	0	66	0

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of anti-dilutive securities) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Restricted stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	99	0	543
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	27	0	27	0
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	577	0	577	0

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) - Performance shares [Member]	6 Months Ended
	Jun. 30, 2016shares
Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Performance-based shares available for vesting	206,250
Minimum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Performance-based shares available for vesting	0