BMC Stock (BMCH) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 08, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-36050
Entity Registrant Name	BMC Stock Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-4687975
Entity Address, Address Line One	8020 Arco Corporate Drive, Suite 400
Entity Address, City or Town	Raleigh,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27617
City Area Code	919
Local Phone Number	431-1000
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	BMCH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		66,649,109
Entity Central Index Key	0001574815
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 160,546	$ 150,723
Accounts receivable, net of allowances	341,405	298,440
Inventories, net	325,516	309,279
Contract assets	32,064	32,348
Prepaid expenses and other current assets	65,547	56,249
Total current assets	925,078	847,039
Property and equipment, net of accumulated depreciation	318,040	294,327
Operating lease right-of-use assets	110,398	0
Customer relationship intangible assets, net of accumulated amortization	173,222	158,563
Other intangible assets, net of accumulated amortization	451	325
Goodwill	274,842	262,997
Other long-term assets	9,256	12,860
Total assets	1,811,287	1,576,111
Current liabilities
Accounts payable	212,766	123,495
Accrued expenses and other liabilities	87,279	110,276
Contract liabilities	34,049	34,888
Income taxes payable	9,134	902
Interest payable	4,759	4,759
Current portion: Long-term debt and finance lease obligations	6,346
Current portion: Long-term debt and finance lease obligations		6,661
Current portion: Operating lease liabilities	23,133	0
Current portion: Insurance reserves	15,606	15,198
Total current liabilities	393,072	296,179
Insurance reserves	42,841	41,270
Long-term debt	345,614	345,197
Long-term portion of finance lease obligations	6,410
Long-term portion of finance lease obligations		8,845
Long-term portion of operating lease liabilities	93,464	0
Deferred income taxes	9,922	3,034
Other long-term liabilities	345	6,927
Total liabilities	891,668	701,452
Commitments and contingencies (Note 9)
Stockholders’ equity
Preferred stock, $0.01 par value, 50.0 million shares authorized, no shares issued and outstanding at June 30, 2019 and December 31, 2018	0	0
Common stock, $0.01 par value, 300.0 million shares authorized, 68.2 million and 67.7 million shares issued, and 66.7 million and 67.2 million outstanding at June 30, 2019 and December 31, 2018, respectively	682	677
Additional paid-in capital	678,914	672,095
Retained earnings	266,394	210,345
Treasury stock, at cost, 1.5 million and 0.5 million shares at June 30, 2019 and December 31, 2018, respectively	(26,371)	(8,458)
Total stockholders’ equity	919,619	874,659
Total liabilities and stockholders’ equity	$ 1,811,287	$ 1,576,111

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2019	Dec. 31, 2018
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50	50
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	300
Common stock, shares issued (shares)	68.2	67.7
Common stock, shares outstanding (in shares)	66.7	67.2
Treasury stock (shares)	1.5	0.5

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net sales	$ 946,375	$ 998,461	$ 1,771,780	$ 1,832,663
Cost of sales	700,598	758,862	1,309,881	1,393,980
Gross profit	245,777	239,599	461,899	438,683
Selling, general and administrative expenses	181,431	169,828	351,365	330,032
Depreciation expense	10,043	9,758	19,616	19,264
Amortization expense	4,338	3,816	8,685	7,473
Merger and integration costs	1,382	481	4,172	2,168
Impairment of assets	529	0	529	0
Total operating expenses	197,723	183,883	384,367	358,937
Income from operations	48,054	55,716	77,532	79,746
Other income (expense)
Interest expense	(5,574)	(6,008)	(11,612)	(11,990)
Other income, net	3,709	2,927	6,619	4,877
Income before income taxes	46,189	52,635	72,539	72,633
Income tax expense	10,490	12,230	16,490	16,869
Net income	$ 35,699	$ 40,405	$ 56,049	$ 55,764
Weighted average common shares outstanding
Basic (in shares)	66,578	67,269	66,679	67,204
Diluted (in shares)	67,077	67,667	67,179	67,666
Net income per common share
Basic (in dollars per share)	$ 0.54	$ 0.60	$ 0.84	$ 0.83
Diluted (in dollars per share)	$ 0.53	$ 0.60	$ 0.83	$ 0.82
Building Products [Member]
Net sales	$ 712,386	$ 782,122	$ 1,333,301	$ 1,428,076
Cost of sales	510,710	582,008	955,647	1,062,309
Construction Services [Member]
Net sales	233,989	216,339	438,479	404,587
Cost of sales	$ 189,888	$ 176,854	$ 354,234	$ 331,671

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Stockholders' equity beginning of period at Dec. 31, 2017	$ 746,899	$ 673	$ (3,821)	$ 659,440	$ 90,607
Common stock issued beginning of period (shares) at Dec. 31, 2017		67,286
Treasury stock beginning of period (shares) at Dec. 31, 2017			207
Stockholders' Equity [Abstract]
Exercise of stock options	588	$ 1		587
Exercise of stock options (shares)		55
Shares vested for long-term incentive plan	0	$ 1		(1)
Shares vested for long-term incentive plan (shares)		155
Repurchases of common stock equity related to equity award activity	(1,046)		$ (1,046)
Repurchases of common stock related to equity award activity (shares)			53
Share withholdings made in satisfaction of exercise price	0		$ (17)	17
Share withholdings made in satisfaction of exercise price (shares)			1
Stock compensation expense	1,775			1,775
Net income	15,359				15,359
Stockholders' equity end of period at Mar. 31, 2018	763,575	$ 675	$ (4,884)	661,818	105,966
Common stock issued end of period (shares) at Mar. 31, 2018		67,496
Treasury stock end of period (shares) at Mar. 31, 2018			261
Stockholders' equity beginning of period at Dec. 31, 2017	746,899	$ 673	$ (3,821)	659,440	90,607
Common stock issued beginning of period (shares) at Dec. 31, 2017		67,286
Treasury stock beginning of period (shares) at Dec. 31, 2017			207
Stockholders' Equity [Abstract]
Net income	55,764
Stockholders' equity end of period at Jun. 30, 2018	807,062	$ 676	$ (4,987)	665,002	146,371
Common stock issued end of period (shares) at Jun. 30, 2018		67,563
Treasury stock end of period (shares) at Jun. 30, 2018			266
Stockholders' equity beginning of period at Mar. 31, 2018	763,575	$ 675	$ (4,884)	661,818	105,966
Common stock issued beginning of period (shares) at Mar. 31, 2018		67,496
Treasury stock beginning of period (shares) at Mar. 31, 2018			261
Stockholders' Equity [Abstract]
Exercise of stock options	44	$ 0		44
Exercise of stock options (shares)		2
Shares vested for long-term incentive plan	0	$ 1		(1)
Shares vested for long-term incentive plan (shares)		65
Repurchases of common stock equity related to equity award activity	(103)		$ (103)
Repurchases of common stock related to equity award activity (shares)			5
Stock compensation expense	3,141			3,141
Net income	40,405				40,405
Stockholders' equity end of period at Jun. 30, 2018	807,062	$ 676	$ (4,987)	665,002	146,371
Common stock issued end of period (shares) at Jun. 30, 2018		67,563
Treasury stock end of period (shares) at Jun. 30, 2018			266
Stockholders' equity beginning of period at Dec. 31, 2018	$ 874,659	$ 677	$ (8,458)	672,095	210,345
Common stock issued beginning of period (shares) at Dec. 31, 2018	67,700	67,708
Treasury stock beginning of period (shares) at Dec. 31, 2018	500		478
Stockholders' Equity [Abstract]
Exercise of stock options	$ 132	$ 0		132
Exercise of stock options (shares)		8
Shares vested for long-term incentive plan	0	$ 3		(3)
Shares vested for long-term incentive plan (shares)		290
Repurchases of common stock under share repurchase program	(15,709)		$ (15,709)
Repurchases of common stock under share repurchase program (shares)			920
Repurchases of common stock equity related to equity award activity	(1,330)		$ (1,330)
Repurchases of common stock related to equity award activity (shares)			74
Stock compensation expense	2,915			2,915
Net income	20,350				20,350
Stockholders' equity end of period at Mar. 31, 2019	881,017	$ 680	$ (25,497)	675,139	230,695
Common stock issued end of period (shares) at Mar. 31, 2019		68,006
Treasury stock end of period (shares) at Mar. 31, 2019			1,472
Stockholders' equity beginning of period at Dec. 31, 2018	$ 874,659	$ 677	$ (8,458)	672,095	210,345
Common stock issued beginning of period (shares) at Dec. 31, 2018	67,700	67,708
Treasury stock beginning of period (shares) at Dec. 31, 2018	500		478
Stockholders' Equity [Abstract]
Repurchases of common stock under share repurchase program	$ (16,400)
Repurchases of common stock under share repurchase program (shares)	1,000
Net income	$ 56,049
Stockholders' equity end of period at Jun. 30, 2019	$ 919,619	$ 682	$ (26,371)	678,914	266,394
Common stock issued end of period (shares) at Jun. 30, 2019	68,200	68,155
Treasury stock end of period (shares) at Jun. 30, 2019	1,500		1,519
Stockholders' equity beginning of period at Mar. 31, 2019	$ 881,017	$ 680	$ (25,497)	675,139	230,695
Common stock issued beginning of period (shares) at Mar. 31, 2019		68,006
Treasury stock beginning of period (shares) at Mar. 31, 2019			1,472
Stockholders' Equity [Abstract]
Exercise of stock options	529	$ 1		528
Exercise of stock options (shares)		76
Shares vested for long-term incentive plan	0	$ 1		(1)
Shares vested for long-term incentive plan (shares)		73
Repurchases of common stock under share repurchase program	$ (737)		$ (737)
Repurchases of common stock under share repurchase program (shares)	100		41
Repurchases of common stock equity related to equity award activity	$ (137)		$ (137)
Repurchases of common stock related to equity award activity (shares)			6
Stock compensation expense	3,248			3,248
Net income	35,699				35,699
Stockholders' equity end of period at Jun. 30, 2019	$ 919,619	$ 682	$ (26,371)	$ 678,914	$ 266,394
Common stock issued end of period (shares) at Jun. 30, 2019	68,200	68,155
Treasury stock end of period (shares) at Jun. 30, 2019	1,500		1,519

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income	$ 56,049	$ 55,764
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	25,739	24,461
Amortization of intangible assets	8,685	7,473
Amortization of debt issuance costs	807	842
Deferred income taxes	6,888	1,577
Non-cash stock compensation expense	6,163	4,916
Gain on sale of property, equipment and real estate	(1,949)	(1,571)
Other non-cash adjustments	2,200	665
Change in assets and liabilities, net of effects of acquisitions
Accounts receivable, net of allowances	(30,725)	(64,648)
Inventories, net	(8,557)	(49,789)
Accounts payable	85,178	60,153
Other assets and liabilities	(21,166)	11,106
Net cash provided by operating activities	129,312	50,949
Cash flows from investing activities
Purchases of businesses, net of cash acquired	(52,012)	(20,970)
Purchases of property, equipment and real estate	(45,905)	(26,287)
Proceeds from sale of property, equipment and real estate	4,153	6,731
Insurance proceeds	107	1,991
Net cash used in investing activities	(93,657)	(38,535)
Cash flows from financing activities
Proceeds from revolving line of credit	110,987	543,460
Repayments of proceeds from revolving line of credit	(110,987)	(547,922)
Repurchases of common stock under share repurchase program	(16,446)	0
Payments on finance lease obligations	(3,385)
Payments on finance lease obligations		(4,012)
Principal payments on other notes	0	(50)
Other financing activities, net	(6,001)	(1,293)
Net cash used in financing activities	(25,832)	(9,817)
Net increase in cash and cash equivalents	9,823	2,597
Cash and cash equivalents
Beginning of period	150,723	11,750
End of period	160,546	14,347
Supplemental disclosure of non-cash investing and financing transactions
Acquisition-related holdback payments due at future date	2,500	1,403
Acquisition-related post-closing adjustment receivable	$ 951	0
Assets acquired under capital lease obligations		$ 821

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization These unaudited financial statements represent the financial statements of BMC Stock Holdings, Inc. and its subsidiaries. All references to “BMC” or the “Company” mean BMC Stock Holdings, Inc. and its subsidiaries. The Company distributes lumber and building materials to new construction and repair and remodeling contractors. Additionally, the Company provides solution-based services to its customers, including component design, product specification and installation services.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited 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, 2018 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, 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 condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“ 2018 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. Comprehensive income Comprehensive income is equal to the net income for all periods presented. Cash and cash equivalents Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and have a maturity of three months or less from the time of purchase. As of June 30, 2019 and December 31, 2018 , the Company had cash equivalents of $149.6 million and $146.1 million , respectively. Cash equivalents are valued at amortized cost, which approximates fair value due to the short-term maturity of these instruments, and was classified as a Level 1 or Level 2 measurement in accordance with Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures (“ASC 820”). Share repurchase program Under the $75.0 million share repurchase program authorized by the Company’s board of directors in November 2018, utilizing cash from operations, the Company repurchased less than 0.1 million shares at a weighted average price of $18.16 per share for a total cost of $0.7 million during the three months ended June 30, 2019 and 1.0 million shares at a weighted average price of $17.11 per share for a total cost of $16.4 million during the six months ended June 30, 2019 . These repurchased shares are available for future issuance and are reflected as treasury stock, at cost, on the condensed consolidated balance sheets. As of June 30, 2019 , the Company had approximately $55.7 million of capacity remaining under the current share repurchase authorization. Statement of cash flows Proceeds from revolving line of credit and repayments of proceeds from revolving line of credit as presented on the condensed consolidated statements of cash flows includes all cash activities and transactions between the Company and its associated lenders in relation to the revolving line of credit, excluding interest and fees, and is specifically inclusive of operating cash receipts that are automatically applied to the revolving line of credit pursuant to a cash sweep agreement. See Note 6 for further details on the Company’s revolving line of credit. Prior Period Misstatement During the three and six months ended June 30, 2019 , the Company identified that a former credit manager within one of its local operations violated the Company’s credit policy by intentionally misapplying certain customer payments, both within a single customer balance as well as across multiple customer balances, and created inappropriate debit memos, all with the intent to manipulate the aging of certain unpaid customer invoices. These inappropriate activities resulted in an understatement of the Company’s provision for doubtful accounts in previously issued annual and interim financial statements (the “Prior Period Misstatement”). The Company has corrected for such Prior Period Misstatement by recording during the three months ended June 30, 2019 an out of period bad debt expense of approximately $4.3 million in selling, general and administrative expenses and a corresponding decrease to accounts receivable, net of allowances. The Company has concluded that the financial impact of the Prior Period Misstatement is not material to any of its previously issued financial statements and that the correction of such Prior Period Misstatement is not material to either the three or six months ended June 30, 2019, or to the expected financial results for the year ended December 31, 2019. Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-02, Leases, and issued subsequent amendments to the initial guidance to provide additional clarification on specific topics (“ASU 2016-02” or “Topic 842”). ASU 2016-02 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 statement of operations. The Company adopted ASU 2016-02 on January 1, 2019 by recording ROU assets for its operating leases totaling approximately $110 million and corresponding lease liabilities totaling approximately $115 million . The impact of adopting ASU 2016-02 was not material to the Company’s results of operations or cash flows for the three and six months ended June 30, 2019 . See Note 5 for further details. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and issued subsequent amendments to the initial guidance to provide additional clarification on specific topics (“ASU 2016-13”). ASU 2016-13 amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. ASU 2016-13 is effective for the Company’s annual and interim periods beginning on January 1, 2020, with early adoption permitted beginning January 1, 2019. Modified retrospective application is required, with certain exceptions. The Company expects to adopt the standard on January 1, 2020. The Company continues to evaluate the impact of the standard on its consolidated financial statements. The Company is in the process of reviewing its current methodology for establishing an allowance for its trade receivables and contract assets for any changes under the standard. Additionally, the Company is in the process of finalizing its identification of other financial instruments within the scope of the standard. In January 2017, the FASB issued Accounting Standards Update 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires computation of the implied fair value of a reporting unit’s goodwill. The amount of a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for the Company’s annual goodwill impairment test and any interim tests during the Company’s annual and interim periods beginning on January 1, 2020. Early adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. Prospective application is required. The adoption of the standard is not expected to have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 modifies the disclosure requirements on fair value measurements by removing, modifying and adding certain disclosure requirements in ASC 820. ASU 2018-13 is effective for the Company’s annual and interim periods beginning on January 1, 2020, with early adoption permitted. Certain disclosures in ASU 2018-13 are required to be applied prospectively, while others require retrospective application. The adoption of the standard is not expected to have a material impact on the Company’s consolidated financial statements.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions For all acquisitions, the Company allocates the purchase price to assets acquired and liabilities assumed as of the date of acquisition based on the estimated fair values at the date of acquisition. The excess of the fair value of the purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Management makes significant estimates and assumptions when determining the fair value of assets acquired and liabilities assumed. These estimates include, but are not limited to, discount rates, projected future net sales, projected future expected cash flows and useful lives. The Company accounts for all acquisitions using the acquisition method of accounting under ASC 805, Business Combinations, whereby the results of operations of the acquired company are included in the Company’s consolidated financial statements beginning on the acquisition date. 2019 Acquisitions On January 14, 2019 , the Company acquired substantially all of the assets and assumed certain liabilities of Barefoot and Company (“Barefoot”), a supplier of windows, exterior doors, hardware, specialty products and installation services in the Charlotte, North Carolina metropolitan area. On February 8, 2019 , the Company acquired substantially all of the assets and assumed certain liabilities of Locust Lumber, a supplier of lumber products and building materials primarily to custom homebuilders and professional remodeling contractors in the Charlotte, North Carolina metropolitan area. The Barefoot and Locust Lumber acquisitions (the “2019 Acquisitions”) enhance the Company’s value-added offerings and footprint in the Charlotte, North Carolina metropolitan area. The preliminary purchase price, in aggregate, for the 2019 Acquisitions was $53.6 million , which included an initial holdback of $2.5 million due to the sellers of Barefoot one year from the closing date. The holdback amount may be reduced under certain circumstances, including upon settlement of certain customary post-closing adjustments. The Company funded the 2019 Acquisitions through available cash. The preliminary purchase price allocation for the 2019 Acquisitions, in aggregate, resulted in the initial recognition of goodwill of $11.8 million , customer relationship intangible assets of $23.3 million , a non-compete agreement intangible asset of $0.2 million , accounts receivable of $12.1 million , inventory of $7.7 million and property and equipment of $2.3 million , as well as other operating assets and liabilities. The customer relationship and non-compete agreement intangible assets have a weighted average useful life of 9 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. All of the goodwill is expected to be deductible for tax purposes. The purchase price allocation for the 2019 Acquisitions is preliminary and based upon all information available to the Company at the present time, and is subject to change. The Company is in the process of finalizing its valuation of the acquired intangible assets, property and equipment and inventory, and therefore, the initial purchase accounting is not complete. As the Company receives additional information during the measurement period, the fair values assigned to the assets and liabilities may be adjusted. For the year ended December 31, 2018, Barefoot and Locust Lumber generated net sales, in aggregate, of approximately $105 million . The Company incurred transaction costs of $0 and $0.3 million for the three and six months ended June 30, 2019 , respectively, related to the 2019 Acquisitions. Net sales and estimated pre-tax earnings for the 2019 Acquisitions included in the unaudited condensed consolidated statements of operations during the three months ended June 30, 2019 were $27.7 million and $2.3 million , respectively. Net sales and estimated pre-tax earnings for the 2019 Acquisitions included in the unaudited condensed consolidated statements of operations during the six months ended June 30, 2019 were $45.9 million and $4.2 million , respectively. The impact of the 2019 Acquisitions was not considered significant for the reporting of pro forma financial information. 2018 Acquisition On March 1, 2018 , the Company acquired substantially all of the assets and assumed certain liabilities of W.E. Shone Co. (“Shone Lumber”), a supplier of building materials in the state of Delaware, for a purchase price of $22.4 million . This acquisition enhances the Company’s value-added offerings and footprint in the Mid-Atlantic region. The purchase price included a holdback which, after certain post-closing adjustments, required the Company to pay $1.4 million to the sellers during the six months ended June 30, 2019 . The Company funded the transaction through available cash and borrowings on the Company’s revolving line of credit. The purchase price allocation resulted in the recognition of goodwill of $2.5 million , a customer relationship intangible asset of $7.0 million , accounts receivable of $6.4 million , inventory of $8.8 million , property and equipment of $2.9 million and total current liabilities of $5.3 million , as well as other operating assets. The customer relationship intangible asset has a useful life of 9 years . 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. All of the goodwill recognized is expected to be deductible for tax purposes. Net sales and estimated pre-tax earnings for Shone Lumber included in the unaudited condensed consolidated statements of operations for the three months ended June 30, 2018 were $20.9 million and $1.7 million , respectively. Net sales and estimated pre-tax earnings for Shone Lumber included in the unaudited condensed consolidated statements of operations from the March 1, 2018 acquisition date to June 30, 2018 were $26.3 million and $2.0 million , respectively. The impact of the acquisition was not considered significant for the reporting of pro forma financial information.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable consist of the following at June 30, 2019 and December 31, 2018 : (in thousands) June 30, December 31, Trade receivables $ 353,716 $ 305,363 Allowance for doubtful accounts (10,243 ) (4,904 ) Other allowances (2,068 ) (2,019 ) $ 341,405 $ 298,440

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases Adoption of Topic 842 On January 1, 2019, the Company adopted Topic 842 by applying the guidance at adoption date. As a result, the comparative information as of December 31, 2018 and for the three and six months ended June 30, 2018 has not been adjusted and continues to be reported under ASC 840, Leases (“ASC 840”). The Company elected the package of practical expedients permitted under the transition guidance within Topic 842, which allowed the Company to carry forward its identification of contracts that are or contain leases, its historical lease classification and its accounting for initial direct costs for existing leases. The impact of adopting Topic 842 was not material to the Company’s results of operations or cash flows for the three and six months ended June 30, 2019 . Beginning January 1, 2019, the Company recognized ROU assets and lease liabilities for the Company’s operating leases on its unaudited condensed consolidated balance sheets. ROU assets for the Company’s operating leases are presented within operating lease right-of-use assets on the Company’s condensed consolidated balance sheets, while the lease liabilities for the Company’s operating leases are presented within operating lease liabilities, with a current and long-term portion. Upon adoption of Topic 842, the balances at the adoption date of prepaid and accrued rent, lease incentives and unamortized assets and liabilities related to favorable and unfavorable leases were reclassified and are now presented within operating lease right-of-use assets on the Company’s condensed consolidated balance sheets. Refer to further discussion of the Company’s ROU assets and lease liabilities below. The Company’s accounting for its historical capital leases, which are now presented as finance leases under Topic 842, remained substantially unchanged. Lease Arrangements The Company has operating and finance leases primarily for its facilities, office space, land, fleet vehicles and equipment. Many of the Company’s leases are noncancellable and typically have an initial lease term of five to ten years, and most provide options at the Company’s election to renew for specified periods of time. The Company’s leases generally provide for fixed annual rentals. Certain of the Company’s leases include provisions for escalating rent, as an example, based on changes in the consumer price index. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement. Most of the Company’s leases require it to pay taxes, insurance and maintenance expenses associated with the properties. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement contains a lease at inception. The Company has lease agreements with lease and non-lease components, which for all such leases are generally accounted for separately. The Company has elected the short-term lease exception under Topic 842 for all leases and as such, leases with an initial term of 12 months or less are not recorded on the unaudited condensed consolidated balance sheets. The Company recognizes lease expense for short-term leases on a straight-line basis over the lease term. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases generally do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and any initial direct costs incurred. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases The components of lease cost for the three and six months ended June 30, 2019 were as follows: (in thousands) Classification Three Months Ended Six Months Ended Operating lease cost (a) Selling, general and administrative expenses $ 9,693 $ 19,260 Finance lease cost Amortization of ROU assets Depreciation expense $ 1,651 $ 3,295 Interest on lease liabilities Interest expense 156 336 Total finance lease cost $ 1,807 $ 3,631 (a) Includes short-term leases and variable lease costs, which are not material. The Company subleases certain facilities to third parties. Income from sublease rentals for the three and six months ended June 30, 2019 was not material. The following table presents the Company’s right-of-use assets and lease liabilities as of June 30, 2019 : (in thousands) Classification June 30, Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 110,398 Finance lease right-of-use assets (a) Property and equipment, net of accumulated depreciation 14,524 Total leased right-of-use assets $ 124,922 Liabilities Current portion Operating lease liabilities Current portion of operating lease liabilities $ 23,133 Finance lease liabilities Current portion of long-term debt and finance lease obligations 6,346 Noncurrent portion Operating lease liabilities Long-term portion of operating lease liabilities 93,464 Finance lease liabilities Long-term portion of finance lease obligations 6,410 Total lease liabilities $ 129,353 (a) Finance lease right-of-use assets are presented net of accumulated amortization of $42.2 million as of June 30, 2019 . The following table presents the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of June 30, 2019 : June 30, Weighted average remaining lease term (years) Operating leases 6.3 Finance leases 2.5 Weighted average discount rate Operating leases 6.7 % Finance leases 4.9 % Future maturities of lease liabilities as of June 30, 2019 were as follows: (in thousands) Operating Leases Finance Leases Total 2019 (a) $ 15,929 $ 3,564 $ 19,493 2020 26,904 5,682 32,586 2021 24,470 2,462 26,932 2022 21,151 982 22,133 2023 17,818 772 18,590 Thereafter 37,729 285 38,014 Total lease payments 144,001 13,747 157,748 Less: Interest (27,404 ) (991 ) (28,395 ) Present value of lease liabilities $ 116,597 $ 12,756 $ 129,353 (a) Excludes the six months ended June 30, 2019 . As of June 30, 2019 , the Company had additional leases for a facility and office space that have not yet commenced, as the facility and office space have not yet been made available to the Company. The facility and office space leases are expected to commence in 2019 and 2020, respectively, and contain undiscounted lease payments of $14.5 million in aggregate over the terms of the leases, which are not included in the table above. Cash paid for amounts included in the measurement of lease liabilities and right-of-use assets obtained in exchange for lease obligations during the six months ended June 30, 2019 were as follows: (in thousands) Six Months Ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 15,956 Operating cash flows from finance leases 319 Financing cash flows from finance leases 3,385 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 5,561 Finance leases 635 Disclosures related to periods prior to adoption of Topic 842 As previously discussed, the Company adopted Topic 842 by applying the guidance at the adoption date, January 1, 2019. As required, the following disclosure is provided for periods prior to adoption, which continue to be presented in accordance with ASC 840. Future minimum lease payments under noncancellable operating leases (with initial or remaining lease terms in excess of one year) and future minimum capital lease payments as of December 31, 2018 are as follows: (in thousands) Capital Leases Operating Leases 2019 $ 7,245 $ 30,431 2020 5,599 24,210 2021 2,356 21,551 2022 873 17,908 2023 660 14,607 Thereafter — 34,279 16,733 $ 142,986 (a) Less: Amounts representing interest (1,227 ) Total obligation under capital leases 15,506 Less: Current portion of capital lease obligation (6,661 ) Long-term capital lease obligation $ 8,845 (a) Minimum operating lease payments have not been reduced by minimum sublease rentals of $0.1 million

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Long-term debt as of June 30, 2019 and December 31, 2018 consists of the following: (in thousands) June 30, December 31, Senior secured notes, due 2024 $ 350,000 $ 350,000 Revolving credit agreement — — 350,000 350,000 Unamortized debt issuance costs related to senior secured notes (4,386 ) (4,803 ) 345,614 345,197 Less: Current portion of long-term debt — — $ 345,614 $ 345,197 Senior Secured Notes On September 15, 2016 , the Company issued $350.0 million of senior secured notes due 2024 (the “Senior Notes”) under an unregistered private placement not subject to the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Senior Notes were issued by BMC East, LLC, a 100% owned subsidiary of the Company, and are guaranteed by the Company and the other subsidiaries that guarantee the Credit Agreement (as defined below). Each of the subsidiary guarantors is 100% owned, directly or indirectly, by the Company, and all guarantees are full and unconditional and joint and several. The interest rate is fixed at 5.5% and is payable semiannually on April 1 and October 1. As of June 30, 2019 , the estimated market value of the Senior Notes was approximately $6.1 million higher 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. Revolving Credit Agreement On December 1, 2015 , the Company entered into a senior secured credit agreement with Wells Fargo Capital Finance, as administrative agent, and certain other lenders (as amended by the first and second amendments, the “Existing Credit Agreement”), which includes a revolving line of credit (the “Revolver”). On May 31, 2019 , the Company entered into the third amendment to the Existing Credit Agreement (the “Third Amendment”), which amended and restated the Existing Credit Agreement (the “Credit Agreement”) and increased the aggregate commitment from $375.0 million to $425.0 million . The Company had no outstanding borrowings under the Revolver and net availability of $367.7 million as of June 30, 2019 . The Company had $56.1 million in letters of credit outstanding under the Credit Agreement as of June 30, 2019 . The Credit Agreement matures at the earlier of (i) May 31, 2024 or (ii) if the Senior Notes are refinanced or repaid, the date that is 91 days prior to the new maturity date of the replacement notes or other indebtedness that replaced or refinanced the Senior Notes. The effective maturity date of the Revolver was extended from December 1, 2020 , the effective maturity date of the Existing Credit Agreement, to May 31, 2024 . After considering the increase to the remaining term and the increase in the aggregate commitment resulting from the Third Amendment, the overall borrowing capacity of the Revolver increased. Accordingly, all existing unamortized debt issuance costs and new debt issuance costs related to the Third Amendment are being amortized through May 31, 2024.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of revenue The following table shows net sales classified by major product category for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Structural components $ 166,955 $ 167,617 $ 308,231 $ 303,446 Lumber & lumber sheet goods 281,855 368,123 523,814 656,209 Millwork, doors & windows 271,135 249,194 511,057 478,712 Other building products & services 226,430 213,527 428,678 394,296 Total net sales $ 946,375 $ 998,461 $ 1,771,780 $ 1,832,663 The following table reflects the Company’s estimate of net sales by each customer type for the three and six months ended June 30, 2019 and 2018 . Certain previously reported amounts for the three and six months ended June 30, 2018 were revised in the table below. The revisions were not material to the previously issued financial statements. Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Single-family homebuilders $ 716,974 $ 764,795 $ 1,345,692 $ 1,403,653 Remodeling contractors 110,313 118,138 198,521 214,284 Multi-family, commercial & other contractors 119,088 115,528 227,567 214,726 Total net sales $ 946,375 $ 998,461 $ 1,771,780 $ 1,832,663 Contract balances The following table reflects the Company’s contract balances as of June 30, 2019 and December 31, 2018 : (in thousands) June 30, December 31, Change Receivables, including unbilled receivables presented in prepaid expenses and other current assets $ 353,431 $ 306,370 $ 47,061 Contract assets 32,064 32,348 (284 ) Contract liabilities $ 34,049 $ 34,888 $ (839 ) During the six months ended June 30, 2019 , the Company’s contract assets decreased by $0.3 million and the Company’s contract liabilities decreased by $0.8 million . The changes in contract assets and liabilities were primarily due to the timing of revenue recognition, as the balances were not materially impacted by any other factors. For the three and six months ended June 30, 2019 , the Company recognized revenue of $3.4 million and $31.1 million , respectively, that was included in contract liabilities as of December 31, 2018 . Revenue recognized related to performance obligations that were satisfied or partially satisfied in previous periods was not material for the three and six months ended June 30, 2019 . As permitted by Topic 606, the Company has elected not to disclose the value of unsatisfied performance obligations, as the Company’s contracts generally have an original expected length of one year or less.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
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, 2019 and December 31, 2018 . 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 no material uncertain tax positions as of June 30, 2019 and December 31, 2018 . For the three and six months ended June 30, 2019 , the Company’s effective tax rate was 22.7% , which varied from the federal statutory rate of 21% primarily due to state income taxes. For the three and six months ended June 30, 2018 , the Company’s effective tax rate was 23.2% , which varied from the federal statutory rate of 21% primarily due to state income taxes.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
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. As of December 31, 2018, the Company had accrued $3.0 million in relation to pending litigation that was recorded during the year ended December 31, 2017. During the six months ended June 30, 2019 , the Company paid $2.8 million

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [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, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Restricted stock units (a) $ 3,248 $ 3,110 $ 6,163 $ 4,768 Restricted stock — 7 — 98 Stock options — 24 — 50 Stock based compensation $ 3,248 $ 3,141 $ 6,163 $ 4,916 (a) Includes service-based and performance-based restricted stock units. During the three and six months ended June 30, 2019 , the Company granted 0.1 million and 0.5 million service-based restricted stock unit awards, respectively. In addition, during the six months ended June 30, 2019 , the Company granted performance-based restricted stock units that allow for a maximum of 0.4 million performance-based restricted stock units to be earned. During the three and six months ended June 30, 2018 , the Company granted 0.1 million and 0.7 million service-based restricted stock unit awards, respectively. In addition, during the six months ended June 30, 2018 , the Company granted performance-based restricted stock units that allow for a maximum of 0.2 million

Segments

Segments	6 Months Ended
	Jun. 30, 2019
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 (“CODM”) in deciding how to allocate resources and in assessing performance. The Company’s operating segments consist of the Mid-Atlantic, Southeast, Texas, Intermountain and Western divisions. The CODM reviews aggregate information to allocate resources and assess performance. Based on the CODM’s review, as well as the similar economic characteristics, nature of products, distribution methods and customers of the divisions, the Company has aggregated its operating segments into one reportable segment, “Geographic divisions.” In addition to the Company’s reportable segment, the Company’s consolidated results include “Other reconciling items.” Other reconciling items comprises the Company’s corporate activities and other income and expenses not allocated to the operating segments. 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, 2019 and 2018 . Adjusted EBITDA is used as a performance metric by the CODM in determining how to allocate resources and assess performance. For the three and six months ended June 30, 2019, Adjusted EBITDA for the Geographic divisions reportable segment includes the out of period correction of the Prior Period Misstatement of $4.3 million . Three Months Ended June 30, 2019 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 946,375 $ 245,777 $ 17,000 $ 90,017 Other reconciling items — — 632 (16,688 ) $ 946,375 $ 245,777 $ 17,632 Three Months Ended June 30, 2018 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 998,461 $ 239,599 $ 15,762 $ 96,501 Other reconciling items — — 491 (17,672 ) $ 998,461 $ 239,599 $ 16,253 Six Months Ended June 30, 2019 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,771,780 $ 461,899 $ 33,147 $ 163,785 Other reconciling items — — 1,277 (36,056 ) $ 1,771,780 $ 461,899 $ 34,424 Six Months Ended June 30, 2018 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,832,663 $ 438,683 $ 30,973 $ 160,175 Other reconciling items — — 961 (34,166 ) $ 1,832,663 $ 438,683 $ 31,934 Reconciliation to consolidated financial statements: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Income before income taxes $ 46,189 $ 52,635 $ 72,539 $ 72,633 Interest expense 5,574 6,008 11,612 11,990 Interest income (844 ) — (1,785 ) — Depreciation and amortization 17,632 16,253 34,424 31,934 Merger and integration costs 1,382 481 4,172 2,168 Non-cash stock compensation expense 3,248 3,141 6,163 4,916 Impairment of assets 529 — 529 — Acquisition costs 18 33 598 267 Sale of Coleman Floor (a) (301 ) — (301 ) — Other items (b) (98 ) 278 (222 ) 2,101 Adjusted EBITDA of other reconciling items 16,688 17,672 36,056 34,166 Adjusted EBITDA of geographic divisions reportable segment $ 90,017 $ 96,501 $ 163,785 $ 160,175 (a) Represents the effect of certain customary post-closing adjustments related to the November 1, 2018 disposition of the Company’s Coleman Floor business (“Coleman Floor”). (b) For the three months ended June 30, 2019 , represents income from a recovery made by the Company related to a fire at one of the Company’s facilities during 2015 (the “Recovery Income”). For the six months ended June 30, 2019 , represents the Recovery Income and the effect of the settlement of pending litigation for an amount less than what was previously accrued. See Note 9 for further details on the settlement of pending litigation. For the three and six months ended June 30, 2018 , represents costs incurred in connection with the departure of the Company’s former chief executive officer and the search for his permanent replacement.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
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. 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, 2019 and 2018 are presented below: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Income attributable to common stockholders $ 35,699 $ 40,405 $ 56,049 $ 55,764 Weighted average common shares outstanding, basic 66,578 67,269 66,679 67,204 Effect of dilutive securities: Restricted stock units 390 265 403 282 Stock options 109 128 97 150 Restricted stock — 5 — 30 Weighted average common shares outstanding, diluted 67,077 67,667 67,179 67,666 Basic income per common share $ 0.54 $ 0.60 $ 0.84 $ 0.83 Diluted income per common share $ 0.53 $ 0.60 $ 0.83 $ 0.82 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. As of June 30, 2019 , the number of currently outstanding performance-based restricted stock units that are issued upon vesting could range from zero to a maximum of 0.9 million . Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Stock options — 208 — 208 Restricted stock units 59 14 59 14

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event On August 1, 2019 , the Company acquired substantially all of the assets and assumed certain liabilities of Kingston Lumber, a supplier of lumber products, trusses and other building materials primarily to custom homebuilders and professional remodeling contractors in the Seattle, Washington metropolitan area. This acquisition enhances the Company’s value-added offerings and footprint in the Seattle, Washington metropolitan area. The preliminary purchase price for the Kingston Lumber acquisition was $11.5 million , which included an initial holdback of $1.0 million due to the sellers of Kingston Lumber one year from the closing date. The Company funded the transaction through available cash. For the year ended December 31, 2018, Kingston Lumber generated net sales of approximately $24 million . The results of operations of Kingston Lumber will be included in the Company’s consolidated financial statements beginning on the acquisition date. Due to the timing of the closing of the acquisition, the initial purchase accounting for the acquisition is not complete and therefore, certain disclosures required by ASC 805 have not been included. The Company is in the process of performing its valuation of the acquired assets and liabilities and currently anticipates a customer relationship intangible asset and goodwill, among other operating assets and liabilities, will be recognized as part of this acquisition.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of Presentation The unaudited 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, 2018 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, 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 condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (“ 2018 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.
Comprehensive income	Comprehensive income Comprehensive income is equal to the net income for all periods presented.
Cash and cash equivalents	Cash and cash equivalents Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and have a maturity of three months or less from the time of purchase. As of June 30, 2019 and December 31, 2018 , the Company had cash equivalents of $149.6 million and $146.1 million , respectively. Cash equivalents are valued at amortized cost, which approximates fair value due to the short-term maturity of these instruments, and was classified as a Level 1 or Level 2 measurement in accordance with Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures (“ASC 820”).
Statement of cash flows	Statement of cash flows Proceeds from revolving line of credit and repayments of proceeds from revolving line of credit as presented on the condensed consolidated statements of cash flows includes all cash activities and transactions between the Company and its associated lenders in relation to the revolving line of credit, excluding interest and fees, and is specifically inclusive of operating cash receipts that are automatically applied to the revolving line of credit pursuant to a cash sweep agreement. See Note 6 for further details on the Company’s revolving line of credit.
Recently issued accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2016-02, Leases, and issued subsequent amendments to the initial guidance to provide additional clarification on specific topics (“ASU 2016-02” or “Topic 842”). ASU 2016-02 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 statement of operations. The Company adopted ASU 2016-02 on January 1, 2019 by recording ROU assets for its operating leases totaling approximately $110 million and corresponding lease liabilities totaling approximately $115 million . The impact of adopting ASU 2016-02 was not material to the Company’s results of operations or cash flows for the three and six months ended June 30, 2019 . See Note 5 for further details. Recently issued accounting pronouncements not yet adopted In June 2016, the FASB issued Accounting Standards Update 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and issued subsequent amendments to the initial guidance to provide additional clarification on specific topics (“ASU 2016-13”). ASU 2016-13 amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. ASU 2016-13 is effective for the Company’s annual and interim periods beginning on January 1, 2020, with early adoption permitted beginning January 1, 2019. Modified retrospective application is required, with certain exceptions. The Company expects to adopt the standard on January 1, 2020. The Company continues to evaluate the impact of the standard on its consolidated financial statements. The Company is in the process of reviewing its current methodology for establishing an allowance for its trade receivables and contract assets for any changes under the standard. Additionally, the Company is in the process of finalizing its identification of other financial instruments within the scope of the standard. In January 2017, the FASB issued Accounting Standards Update 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires computation of the implied fair value of a reporting unit’s goodwill. The amount of a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for the Company’s annual goodwill impairment test and any interim tests during the Company’s annual and interim periods beginning on January 1, 2020. Early adoption is permitted for goodwill impairment tests performed on testing dates after January 1, 2017. Prospective application is required. The adoption of the standard is not expected to have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued Accounting Standards Update 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 modifies the disclosure requirements on fair value measurements by removing, modifying and adding certain disclosure requirements in ASC 820. ASU 2018-13 is effective for the Company’s annual and interim periods beginning on January 1, 2020, with early adoption permitted. Certain disclosures in ASU 2018-13 are required to be applied prospectively, while others require retrospective application. The adoption of the standard is not expected to have a material impact on the Company’s consolidated financial statements.

Acquisitions (Policies)

Acquisitions (Policies)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions For all acquisitions, the Company allocates the purchase price to assets acquired and liabilities assumed as of the date of acquisition based on the estimated fair values at the date of acquisition. The excess of the fair value of the purchase consideration over the fair values of the identifiable assets and liabilities is recorded as goodwill. Management makes significant estimates and assumptions when determining the fair value of assets acquired and liabilities assumed. These estimates include, but are not limited to, discount rates, projected future net sales, projected future expected cash flows and useful lives. The Company accounts for all acquisitions using the acquisition method of accounting under ASC 805, Business Combinations, whereby the results of operations of the acquired company are included in the Company’s consolidated financial statements beginning on the acquisition date.

Leases (Policies)

Leases (Policies)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Lease Arrangements The Company has operating and finance leases primarily for its facilities, office space, land, fleet vehicles and equipment. Many of the Company’s leases are noncancellable and typically have an initial lease term of five to ten years, and most provide options at the Company’s election to renew for specified periods of time. The Company’s leases generally provide for fixed annual rentals. Certain of the Company’s leases include provisions for escalating rent, as an example, based on changes in the consumer price index. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at lease commencement. Most of the Company’s leases require it to pay taxes, insurance and maintenance expenses associated with the properties. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement contains a lease at inception. The Company has lease agreements with lease and non-lease components, which for all such leases are generally accounted for separately. The Company has elected the short-term lease exception under Topic 842 for all leases and as such, leases with an initial term of 12 months or less are not recorded on the unaudited condensed consolidated balance sheets. The Company recognizes lease expense for short-term leases on a straight-line basis over the lease term. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As the Company’s leases generally do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and any initial direct costs incurred. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term.

Income Taxes (Policies)

Income Taxes (Policies)	6 Months Ended
	Jun. 30, 2019
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, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and ContingenciesFrom 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, 2019
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. Performance-based restricted stock units are not included in the calculation of diluted EPS until they are contingently issuable.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of accounts receivable	Accounts receivable consist of the following at June 30, 2019 and December 31, 2018 : (in thousands) June 30, December 31, Trade receivables $ 353,716 $ 305,363 Allowance for doubtful accounts (10,243 ) (4,904 ) Other allowances (2,068 ) (2,019 ) $ 341,405 $ 298,440

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of lease cost	The components of lease cost for the three and six months ended June 30, 2019 were as follows: (in thousands) Classification Three Months Ended Six Months Ended Operating lease cost (a) Selling, general and administrative expenses $ 9,693 $ 19,260 Finance lease cost Amortization of ROU assets Depreciation expense $ 1,651 $ 3,295 Interest on lease liabilities Interest expense 156 336 Total finance lease cost $ 1,807 $ 3,631 (a) Includes short-term leases and variable lease costs, which are not material.
ROU assets and lease liabilities	The following table presents the Company’s right-of-use assets and lease liabilities as of June 30, 2019 : (in thousands) Classification June 30, Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 110,398 Finance lease right-of-use assets (a) Property and equipment, net of accumulated depreciation 14,524 Total leased right-of-use assets $ 124,922 Liabilities Current portion Operating lease liabilities Current portion of operating lease liabilities $ 23,133 Finance lease liabilities Current portion of long-term debt and finance lease obligations 6,346 Noncurrent portion Operating lease liabilities Long-term portion of operating lease liabilities 93,464 Finance lease liabilities Long-term portion of finance lease obligations 6,410 Total lease liabilities $ 129,353 (a) Finance lease right-of-use assets are presented net of accumulated amortization of $42.2 million as of June 30, 2019 .
Weighted average remaining term and discount rate	The following table presents the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of June 30, 2019 : June 30, Weighted average remaining lease term (years) Operating leases 6.3 Finance leases 2.5 Weighted average discount rate Operating leases 6.7 % Finance leases 4.9 %
Future minimum lease payments under non-cancellable leases	Future maturities of lease liabilities as of June 30, 2019 were as follows: (in thousands) Operating Leases Finance Leases Total 2019 (a) $ 15,929 $ 3,564 $ 19,493 2020 26,904 5,682 32,586 2021 24,470 2,462 26,932 2022 21,151 982 22,133 2023 17,818 772 18,590 Thereafter 37,729 285 38,014 Total lease payments 144,001 13,747 157,748 Less: Interest (27,404 ) (991 ) (28,395 ) Present value of lease liabilities $ 116,597 $ 12,756 $ 129,353 (a) Excludes the six months ended June 30, 2019 .
Cash paid for amounts included in the measurement of lease liabilities and ROU assets	Cash paid for amounts included in the measurement of lease liabilities and right-of-use assets obtained in exchange for lease obligations during the six months ended June 30, 2019 were as follows: (in thousands) Six Months Ended Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 15,956 Operating cash flows from finance leases 319 Financing cash flows from finance leases 3,385 Right-of-use assets obtained in exchange for lease obligations Operating leases $ 5,561 Finance leases 635
Future minimum lease payments prior to adoption of Topic 842	Future minimum lease payments under noncancellable operating leases (with initial or remaining lease terms in excess of one year) and future minimum capital lease payments as of December 31, 2018 are as follows: (in thousands) Capital Leases Operating Leases 2019 $ 7,245 $ 30,431 2020 5,599 24,210 2021 2,356 21,551 2022 873 17,908 2023 660 14,607 Thereafter — 34,279 16,733 $ 142,986 (a) Less: Amounts representing interest (1,227 ) Total obligation under capital leases 15,506 Less: Current portion of capital lease obligation (6,661 ) Long-term capital lease obligation $ 8,845 (a) Minimum operating lease payments have not been reduced by minimum sublease rentals of $0.1 million

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of debt	Long-term debt as of June 30, 2019 and December 31, 2018 consists of the following: (in thousands) June 30, December 31, Senior secured notes, due 2024 $ 350,000 $ 350,000 Revolving credit agreement — — 350,000 350,000 Unamortized debt issuance costs related to senior secured notes (4,386 ) (4,803 ) 345,614 345,197 Less: Current portion of long-term debt — — $ 345,614 $ 345,197

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table shows net sales classified by major product category for the three and six months ended June 30, 2019 and 2018 : Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Structural components $ 166,955 $ 167,617 $ 308,231 $ 303,446 Lumber & lumber sheet goods 281,855 368,123 523,814 656,209 Millwork, doors & windows 271,135 249,194 511,057 478,712 Other building products & services 226,430 213,527 428,678 394,296 Total net sales $ 946,375 $ 998,461 $ 1,771,780 $ 1,832,663 The following table reflects the Company’s estimate of net sales by each customer type for the three and six months ended June 30, 2019 and 2018 . Certain previously reported amounts for the three and six months ended June 30, 2018 were revised in the table below. The revisions were not material to the previously issued financial statements. Three Months Ended Six Months Ended (in thousands) 2019 2018 2019 2018 Single-family homebuilders $ 716,974 $ 764,795 $ 1,345,692 $ 1,403,653 Remodeling contractors 110,313 118,138 198,521 214,284 Multi-family, commercial & other contractors 119,088 115,528 227,567 214,726 Total net sales $ 946,375 $ 998,461 $ 1,771,780 $ 1,832,663
Contract balances	The following table reflects the Company’s contract balances as of June 30, 2019 and December 31, 2018 : (in thousands) June 30, December 31, Change Receivables, including unbilled receivables presented in prepaid expenses and other current assets $ 353,431 $ 306,370 $ 47,061 Contract assets 32,064 32,348 (284 ) Contract liabilities $ 34,049 $ 34,888 $ (839 )

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [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, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Restricted stock units (a) $ 3,248 $ 3,110 $ 6,163 $ 4,768 Restricted stock — 7 — 98 Stock options — 24 — 50 Stock based compensation $ 3,248 $ 3,141 $ 6,163 $ 4,916 (a) Includes service-based and performance-based restricted stock units.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 and 2018 . Adjusted EBITDA is used as a performance metric by the CODM in determining how to allocate resources and assess performance. For the three and six months ended June 30, 2019, Adjusted EBITDA for the Geographic divisions reportable segment includes the out of period correction of the Prior Period Misstatement of $4.3 million . Three Months Ended June 30, 2019 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 946,375 $ 245,777 $ 17,000 $ 90,017 Other reconciling items — — 632 (16,688 ) $ 946,375 $ 245,777 $ 17,632 Three Months Ended June 30, 2018 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 998,461 $ 239,599 $ 15,762 $ 96,501 Other reconciling items — — 491 (17,672 ) $ 998,461 $ 239,599 $ 16,253 Six Months Ended June 30, 2019 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,771,780 $ 461,899 $ 33,147 $ 163,785 Other reconciling items — — 1,277 (36,056 ) $ 1,771,780 $ 461,899 $ 34,424 Six Months Ended June 30, 2018 (in thousands) Net Sales Gross Profit Depreciation & Amortization Adjusted EBITDA Geographic divisions $ 1,832,663 $ 438,683 $ 30,973 $ 160,175 Other reconciling items — — 961 (34,166 ) $ 1,832,663 $ 438,683 $ 31,934
Reconciliation to consolidated financial statements	Reconciliation to consolidated financial statements: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Income before income taxes $ 46,189 $ 52,635 $ 72,539 $ 72,633 Interest expense 5,574 6,008 11,612 11,990 Interest income (844 ) — (1,785 ) — Depreciation and amortization 17,632 16,253 34,424 31,934 Merger and integration costs 1,382 481 4,172 2,168 Non-cash stock compensation expense 3,248 3,141 6,163 4,916 Impairment of assets 529 — 529 — Acquisition costs 18 33 598 267 Sale of Coleman Floor (a) (301 ) — (301 ) — Other items (b) (98 ) 278 (222 ) 2,101 Adjusted EBITDA of other reconciling items 16,688 17,672 36,056 34,166 Adjusted EBITDA of geographic divisions reportable segment $ 90,017 $ 96,501 $ 163,785 $ 160,175 (a) Represents the effect of certain customary post-closing adjustments related to the November 1, 2018 disposition of the Company’s Coleman Floor business (“Coleman Floor”). (b) For the three months ended June 30, 2019 , represents income from a recovery made by the Company related to a fire at one of the Company’s facilities during 2015 (the “Recovery Income”). For the six months ended June 30, 2019 , represents the Recovery Income and the effect of the settlement of pending litigation for an amount less than what was previously accrued. See Note 9 for further details on the settlement of pending litigation. For the three and six months ended June 30, 2018 , represents costs incurred in connection with the departure of the Company’s former chief executive officer and the search for his permanent replacement.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 and 2018 are presented below: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2019 2018 2019 2018 Income attributable to common stockholders $ 35,699 $ 40,405 $ 56,049 $ 55,764 Weighted average common shares outstanding, basic 66,578 67,269 66,679 67,204 Effect of dilutive securities: Restricted stock units 390 265 403 282 Stock options 109 128 97 150 Restricted stock — 5 — 30 Weighted average common shares outstanding, diluted 67,077 67,667 67,179 67,666 Basic income per common share $ 0.54 $ 0.60 $ 0.84 $ 0.83 Diluted income per common share $ 0.53 $ 0.60 $ 0.83 $ 0.82
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. As of June 30, 2019 , the number of currently outstanding performance-based restricted stock units that are issued upon vesting could range from zero to a maximum of 0.9 million . Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Stock options — 208 — 208 Restricted stock units 59 14 59 14

Summary of Significant Accounti

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Nov. 30, 2018
Organization Consolidation And Presentation [Line Items]
Cash equivalents	$ 149,600		$ 149,600		$ 146,100
Share repurchase program authorized						$ 75,000
Repurchases of common stock under share repurchase program (shares)	0.1		1
Weighted average cost of repurchased shares	$ 18.16		$ 17.11
Repurchases of common stock under share repurchase program	$ 737	$ 15,709	$ 16,400
Remaining under current repurchase authorization	55,700		55,700
Operating lease right-of-use assets	110,398		110,398	$ 110,000	$ 0
Operating lease liability	116,597		116,597	$ 115,000
Selling, General and Administrative Expenses [Member]
Organization Consolidation And Presentation [Line Items]
Prior period adjustment	4,200		4,300
Accounts Receivable [Member]
Organization Consolidation And Presentation [Line Items]
Prior period adjustment	$ (4,200)		$ (4,200)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Feb. 08, 2019	Jan. 14, 2019	Mar. 01, 2018	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Acquisition holdback								$ 2,500	$ 1,403
Goodwill				$ 274,842				274,842		$ 262,997
Transaction costs				18		$ 33		598	$ 267
Barefoot [Member]
Business Acquisition [Line Items]
Date of acquisition		Jan. 14, 2019
Locust [Member]
Business Acquisition [Line Items]
Date of acquisition	Feb. 8, 2019
Barefoot And Locust [Member]
Business Acquisition [Line Items]
Purchase price					$ 53,600
Acquisition holdback					2,500
Goodwill					11,800
Accounts receivable					12,100
Inventory					7,700
Property and equipment					2,300
Pre-acquisition sales										$ 105,000
Transaction costs				0				300
Net sales of acquiree since acquisition date				27,700				45,900
Estimated pre-tax earnings of acquiree since acquisition date				$ 2,300				4,200
Shone Lumber [Member]
Business Acquisition [Line Items]
Date of acquisition			Mar. 1, 2018
Purchase price			$ 22,400
Payment of acquisition holdback								$ 1,400
Goodwill			2,500
Accounts receivable			6,400
Inventory			8,800
Property and equipment			2,900
Current liabilities			5,300
Net sales of acquiree since acquisition date						20,900	$ 26,300
Estimated pre-tax earnings of acquiree since acquisition date						$ 1,700	$ 2,000
Customer relationships [Member] | Barefoot And Locust [Member]
Business Acquisition [Line Items]
Intangible assets					$ 23,300
Useful life					9 years
Customer relationships [Member] | Shone Lumber [Member]
Business Acquisition [Line Items]
Intangible assets			$ 7,000
Useful life			9 years
Non-compete agreements [Member] | Barefoot And Locust [Member]
Business Acquisition [Line Items]
Intangible assets					$ 200
Useful life					2 years

Accounts Receivable (Accounts R

Accounts Receivable (Accounts Receivable) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Trade receivables	$ 353,716	$ 305,363
Allowance for doubtful accounts	(10,243)	(4,904)
Other allowances	(2,068)	(2,019)
Accounts receivable, net	$ 341,405	$ 298,440

Leases (Components of Lease Cos

Leases (Components of Lease Cost) (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2019	Jun. 30, 2019
Total finance lease cost		$ 1,807	$ 3,631
Selling, General and Administrative Expenses [Member]
Operating lease cost	[1]	9,693	19,260
Depreciation [Member]
Finance lease cost: Amortization of ROU assets		1,651	3,295
Interest Expense [Member]
Finance lease cost: Interest on lease liabilities		$ 156	$ 336
[1]	Includes short-term leases and variable lease costs, which are not material.

Leases (ROU Assets and Lease Li

Leases (ROU Assets and Lease Liabilities) (Detail) - USD ($) $ in Thousands		Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating lease right-of-use assets		$ 110,398	$ 110,000	$ 0
Total leased right-of-use assets		124,922
Current portion: Operating lease liabilities		23,133		0
Noncurrent portion: Operating lease liabilities		93,464		$ 0
Noncurrent portion: Finance lease liabilities		6,410
Total lease liabilities		129,353
Property And Equipment [Member]
Finance lease right-of-use assets	[1]	14,524
Finance lease ROU asset accumulated amortization		42,200
Current Portion Of Long-Term Debt And Finance Lease Obligations [Member]
Current portion: Finance lease liabilities		$ 6,346
[1]	Finance lease right-of-use assets are presented net of accumulated amortization of $42.2 million as of June 30, 2019 .

Leases (Weighted Average Lease

Leases (Weighted Average Lease Term and Discount Rate) (Details)	Jun. 30, 2019
Leases [Abstract]
Weighted average remaining lease term: Operating leases	6 years 3 months 18 days
Weighted average remaining lease term: Finance leases	2 years 6 months
Weighted average discount rate: Operating leases	6.70%
Weighted average discount rate: Finance leases	4.90%

Leases (Future Minimum Lease Pa

Leases (Future Minimum Lease Payments) (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Jan. 01, 2019
Operating Leases
2019	[1]	$ 15,929
2020		26,904
2021		24,470
2022		21,151
2023		17,818
Thereafter		37,729
Total lease payments		144,001
Less: Interest		(27,404)
Present value of lease liabilities		116,597	$ 115,000
Finance Leases
2019	[1]	3,564
2020		5,682
2021		2,462
2022		982
2023		772
Thereafter		285
Total lease payments		13,747
Less: Interest		(991)
Present value of lease liabilities		12,756
2019	[1]	19,493
2020		32,586
2021		26,932
2022		22,133
2023		18,590
Thereafter		38,014
Total lease payments		157,748
Less: Interest		(28,395)
Present value of lease liabilities		$ 129,353
[1]	Excludes the six months ended June 30, 2019 .

Leases (Cash Paid for Lease Lia

Leases (Cash Paid for Lease Liabilities and ROU Assets) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 15,956
Operating cash flows from finance leases	319
Financing cash flows from finance leases	3,385
ROU assets obtained in exchange for lease obligations: Operating	5,561
ROU assets obtained in exchange for lease obligations: Finance	$ 635

Leases (Future Minimum Lease _2

Leases (Future Minimum Lease Payments before Adoption of 842) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Capital Leases
2019	$ 7,245
2020	5,599
2021	2,356
2022	873
2023	660
Thereafter	0
Future minimum payments due	16,733
Less: Amounts representing interest	(1,227)
Total obligation under capital leases	15,506
Less: Current portion of capital lease obligation	(6,661)
Long-term portion of finance lease obligations	8,845
Operating Leases
2019	30,431
2020	24,210
2021	21,551
2022	17,908
2023	14,607
Thereafter	34,279
Future minimum payments due	142,986	[1]
Future minimum sublease rentals	$ 100
[1]	Minimum operating lease payments have not been reduced by minimum sublease rentals of $0.1 million

Leases Leases (Narrative) (Deta

Leases Leases (Narrative) (Details) $ in Millions	Jun. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Leases not yet commenced	$ 14.5

Debt (Debt Table) (Details)

Debt (Debt Table) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Sep. 15, 2016
Debt Instrument [Line Items]
Outstanding borrowings	$ 350,000,000	$ 350,000,000
Unamortized debt issuance costs related to senior secured notes	(4,386,000)	(4,803,000)
Total debt	345,614,000	345,197,000
Less: Current portion of long-term debt	0	0
Long-term debt	345,614,000	345,197,000
Senior secured notes, due 2024 [Member]
Debt Instrument [Line Items]
Outstanding borrowings	350,000,000	350,000,000	$ 350,000,000
Revolving credit agreement [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 0	$ 0

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	May 31, 2019	Sep. 15, 2016	Dec. 01, 2015	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Outstanding borrowings				$ 350,000,000	$ 350,000,000
Senior secured notes, due 2024 [Member]
Debt Instrument [Line Items]
Debt issuance date		Sep. 15, 2016
Interest rate		5.50%
Estimated market value above (below) carrying amount				6,100,000
Outstanding borrowings		$ 350,000,000		350,000,000	350,000,000
Revolving credit agreement [Member]
Debt Instrument [Line Items]
Date entered into agreement			Dec. 1, 2015
Maximum borrowing capacity			$ 375,000,000
Outstanding borrowings				0	$ 0
Net availability				367,700,000
Letters of credit outstanding				$ 56,100,000
Revolving credit agreement maturity date			Dec. 1, 2020
Third Amendment [Member] | Revolving credit agreement [Member]
Debt Instrument [Line Items]
Date entered into agreement	May 31, 2019
Maximum borrowing capacity	$ 425,000,000
Revolving credit agreement maturity date	May 31, 2024
Guarantor Subsidiaries [Member] | Senior secured notes, due 2024 [Member]
Debt Instrument [Line Items]
Ownership percent		100.00%
BMC East, LLC [Member] | Senior secured notes, due 2024 [Member]
Debt Instrument [Line Items]
Ownership percent		100.00%

Revenue (Revenue by Product Cat

Revenue (Revenue by Product Category) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 946,375	$ 998,461	$ 1,771,780	$ 1,832,663
Structural components [Member]
Disaggregation of Revenue [Line Items]
Net sales	166,955	167,617	308,231	303,446
Lumber & lumber sheet goods [Member]
Disaggregation of Revenue [Line Items]
Net sales	281,855	368,123	523,814	656,209
Millwork, doors & windows [Member]
Disaggregation of Revenue [Line Items]
Net sales	271,135	249,194	511,057	478,712
Other building products & services [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 226,430	$ 213,527	$ 428,678	$ 394,296

Revenue (Revenue by Customer Ty

Revenue (Revenue by Customer Type) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 946,375	$ 998,461	$ 1,771,780	$ 1,832,663
Single-family homebuilders [Member]
Disaggregation of Revenue [Line Items]
Net sales	716,974	764,795	1,345,692	1,403,653
Remodeling contractors [Member]
Disaggregation of Revenue [Line Items]
Net sales	110,313	118,138	198,521	214,284
Multi-family, commercial & other contractors [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 119,088	$ 115,528	$ 227,567	$ 214,726

Revenue (Contract Assets and Li

Revenue (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Receivables, including unbilled receivables presented in prepaid expenses and other current assets	$ 353,431	$ 306,370
Receivables, including unbilled receivables change	47,061
Contract assets	32,064	32,348
Contract assets change	(284)
Contract liabilities	34,049	$ 34,888
Contract liabilities change	$ (839)

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets change		$ (284)
Contract liabilities change		(839)
Revenue recognized previously included in contract liabilities	$ 3,400	$ 31,100

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Contingency [Line Items]
Valuation allowance	$ 0.1		$ 0.1		$ 0.1
Effective income tax rate	22.70%	23.20%	22.70%	23.20%
Federal statutory rate	21.00%	21.00%	21.00%	21.00%

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2017	Dec. 31, 2018
Loss Contingencies [Line Items]
Pending litigation expense		$ 3
Pending litigation accrued			$ 3
Litigation settlement payment	$ 2.8

Stock Based Compensation (Stock

Stock Based Compensation (Stock based compensation expense) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 3,248	$ 3,141	$ 6,163	$ 4,916
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	[1]	3,248	3,110	6,163	4,768
Restricted stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		0	7	0	98
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation		$ 0	$ 24	$ 0	$ 50
[1]	Includes service-based and performance-based restricted stock units.

Stock Based Compensation (Narra

Stock Based Compensation (Narrative) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	0.1	0.1	0.5	0.7
Maximum [Member] | Performance-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based shares available for vesting			0.4	0.2

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Net sales	$ 946,375	$ 998,461	$ 1,771,780	$ 1,832,663
Gross profit	245,777	239,599	461,899	438,683
Depreciation & amortization	17,632	16,253	34,424	31,934
Operating segments [Member] | Geographic divisions [Member]
Segment Reporting Information [Line Items]
Net sales	946,375	998,461	1,771,780	1,832,663
Gross profit	245,777	239,599	461,899	438,683
Depreciation & amortization	17,000	15,762	33,147	30,973
Adjusted EBITDA	90,017	96,501	163,785	160,175
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	632	491	1,277	961
Adjusted EBITDA	$ (16,688)	$ (17,672)	$ (36,056)	$ (34,166)

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting, Revenue Reconciling Item [Line Items]
Income before income taxes		$ 46,189	$ 52,635	$ 72,539	$ 72,633
Interest expense		5,574	6,008	11,612	11,990
Interest income		(844)	0	(1,785)	0
Depreciation and amortization		17,632	16,253	34,424	31,934
Merger and integration costs		1,382	481	4,172	2,168
Non-cash stock compensation expense		3,248	3,141	6,163	4,916
Impairment of assets		529	0	529	0
Acquisition costs		18	33	598	267
Sale of Coleman Floor	[1]	(301)	0	(301)	0
Other items	[2]	(98)	278	(222)	2,101
Other reconciling items [Member] | Other reconciling items [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization		632	491	1,277	961
Adjusted EBITDA		16,688	17,672	36,056	34,166
Operating segments [Member] | Geographic divisions [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization		17,000	15,762	33,147	30,973
Adjusted EBITDA		$ (90,017)	$ (96,501)	$ (163,785)	$ (160,175)
[1]	Represents the effect of certain customary post-closing adjustments related to the November 1, 2018 disposition of the Company’s Coleman Floor business (“Coleman Floor”).
[2]	For the three months ended June 30, 2019 , represents income from a recovery made by the Company related to a fire at one of the Company’s facilities during 2015 (the “Recovery Income”). For the six months ended June 30, 2019 , represents the Recovery Income and the effect of the settlement of pending litigation for an amount less than what was previously accrued. See Note 9 for further details on the settlement of pending litigation. For the three and six months ended June 30, 2018 , represents costs incurred in connection with the departure of the Company’s former chief executive officer and the search for his permanent replacement.

Segments (Narrative) (Details)

Segments (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment		1
Operating segments [Member] | Geographic divisions [Member]
Segment Reporting Information [Line Items]
Prior period adjustment | $	$ 4.3	$ 4.3

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, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Income attributable to common stockholders	$ 35,699	$ 20,350	$ 40,405	$ 15,359	$ 56,049	$ 55,764
Weighted average common shares outstanding, basic (in shares)	66,578		67,269		66,679	67,204
Weighted average common shares outstanding, diluted (in shares)	67,077		67,667		67,179	67,666
Basic income per common share (in dollars per share)	$ 0.54		$ 0.60		$ 0.84	$ 0.83
Diluted income per common share (in dollars per share)	$ 0.53		$ 0.60		$ 0.83	$ 0.82
Restricted stock units [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	390		265		403	282
Stock options [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	109		128		97	150
Restricted stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Stock based payment arrangements (in shares)	0		5		0	30

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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)	0	208	0	208
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)	59	14	59	14

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - Performance-based restricted stock units [Member]	Jun. 30, 2019shares
Minimum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Performance-based restricted stock units that could be issued upon vesting	0
Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Performance-based restricted stock units that could be issued upon vesting	900,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Aug. 01, 2019	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Subsequent Event [Line Items]
Acquisition holdback		$ 2,500	$ 1,403
Kingston Lumber [Member]
Subsequent Event [Line Items]
Pre-acquisition sales				$ 24,000
Kingston Lumber [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Subsequent event date	Aug. 1, 2019
Purchase price	$ 11,500
Acquisition holdback	$ 1,000