Foundation Building Materials (FBM) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 03, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Foundation Building Materials, Inc.
Entity Central Index Key	0001688941
Trading Symbol	FBM
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock Shares Outstanding (in shares)		42,987,839
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Emerging Growth Company	false
Entity Small Business	true

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 514,872	$ 463,661
Cost of goods sold	361,912	329,224
Gross profit	152,960	134,437
Operating expenses:
Selling, general and administrative expenses	117,230	104,657
Depreciation and amortization	20,342	18,397
Total operating expenses	137,572	123,054
Income from operations	15,388	11,383
Interest expense	(8,556)	(15,119)
Other income, net	41	74
Income (loss) before income taxes	6,873	(3,662)
Income tax expense (benefit)	2,045	(1,398)
Income (loss) from continuing operations	4,828	(2,264)
Income from discontinued operations, net of tax	0	1,211
Loss on sale of discontinued operations, net of tax	(1,346)	0
Net income (loss)	$ 3,482	$ (1,053)
Earnings (loss) per share data:
Earnings (Loss) from continuing operations per share - basic (in dollars per share)	$ 0.11	$ (0.05)
Earnings (Loss) from continuing operations per share - diluted (in dollars per share)	0.11	(0.05)
(Loss) earnings from discontinued operations per share - basic (in dollars per share)	(0.03)	0.03
(Loss) earnings from discontinued operations per share - diluted (in dollars per share)	(0.03)	0.03
Earnings (loss) per share - basic (in dollars per share)	0.08	(0.02)
Earnings (loss) per share - diluted (in dollars per share)	$ 0.08	$ (0.02)
Weighted average shares outstanding:
Basic (in shares)	42,932,024	42,879,874
Diluted (in shares)	42,944,829	42,879,874
Comprehensive income (loss):
Net income (loss)	$ 3,482	$ (1,053)
Foreign currency translation adjustment	1,570	(2,371)
Unrealized (loss) income on derivatives, net of taxes of $1.3 million and $0.5 million, respectively	(3,496)	1,163
Total other comprehensive (loss)	(1,926)	(1,208)
Total comprehensive income (loss)	$ 1,556	$ (2,261)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net of tax effect on unrealized gain (loss) on derivatives	$ 1.3	$ 0.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 4,978	$ 15,299
Accounts receivable—net of allowance for doubtful accounts of $3,578 and $3,239, respectively	303,445	276,043
Other receivables	42,908	57,472
Inventories	170,584	165,989
Prepaid expenses and other current assets	13,715	9,053
Total current assets	535,630	523,856
Property and equipment, net	148,491	151,641
Right-of-use assets, net	116,245	0
Intangible assets, net	134,887	145,876
Goodwill	487,888	484,941
Other assets	5,816	10,393
Total assets	1,428,957	1,316,707
Current liabilities:
Accounts payable	149,519	137,773
Accrued payroll and employee benefits	21,281	28,830
Accrued taxes	11,043	11,867
Tax receivable agreement	27,676	16,667
Current portion of term loan, net	4,500	4,500
Current portion of lease liabilities	28,061	0
Other current liabilities	18,849	19,979
Total current liabilities	260,929	219,616
Asset-based revolving credit facility	153,500	146,000
Long-term portion of term loan, net	437,158	437,999
Tax receivable agreement	90,272	117,948
Deferred income taxes, net	19,723	20,678
Long-term portion of lease liabilities	96,006	0
Other liabilities	2,937	8,117
Total liabilities	1,060,525	950,358
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value, authorized 10,000,000 shares; 0 shares issued	0	0
Common stock, $0.001 par value, authorized 190,000,000 shares; 42,986,683 and 42,907,326 shares issued, respectively	13	13
Additional paid-in capital	333,029	332,330
Retained earnings	37,497	34,187
Accumulated other comprehensive loss	(2,107)	(181)
Total stockholders' equity	368,432	366,349
Total liabilities and stockholders' equity	$ 1,428,957	$ 1,316,707

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable net of allowance for doubtful accounts	$ 3,578	$ 3,239
Preferred stock par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock shares authorized (in shares)	10,000,000	10,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	190,000,000	190,000,000
Common stock shares issued (in shares)	42,986,683	42,907,326
Common stock shares outstanding (in shares)	42,986,683	42,907,326

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 3,482	$ (1,053)
Loss on sale of discontinued operations, net of tax	(1,346)	0
Less: net income from discontinued operations	0	1,211
Net income (loss) from continuing operations	4,828	(2,264)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities of continuing operations:
Depreciation	8,846	7,685
Amortization of intangible assets	11,496	10,692
Amortization of debt issuance costs and debt discount	539	2,624
Inventory fair value purchase accounting adjustment	196	407
Provision for doubtful accounts	636	413
Stock-based compensation	829	242
Unrealized gain on derivative instruments, net	0	(74)
Loss on disposal of property and equipment	191	12
Right-of-use assets	6,743	0
Deferred income taxes	211	(1,614)
Change in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(23,860)	(26,783)
Other receivables	16,851	5,112
Inventories	(2,917)	(4,554)
Prepaid expenses and other current assets	(2,206)	1,211
Other assets	(15)	651
Accounts payable	9,182	8,385
Accrued payroll and employee benefits	(7,601)	1,715
Accrued taxes	(831)	3,035
Other liabilities	(5,409)	(12,007)
Net cash provided by (used in) operating activities from continuing operations	17,709	(5,112)
Cash flows from investing activities from continuing operations:
Purchases of property and equipment	(5,242)	(7,286)
Payment of net working capital adjustments related to acquisitions	(13)	(15)
Proceeds from net working capital adjustments related to acquisitions	0	178
Proceeds from the disposal of fixed assets	238	200
Acquisitions, net of cash acquired	(10,757)	(21,233)
Net cash used in investing activities from continuing operations	(15,774)	(28,156)
Cash flows from financing activities from continuing operations:
Proceeds from asset-based revolving credit facility	145,276	131,224
Repayments of asset-based revolving credit facility	(137,776)	(88,724)
Principal payments for term loan	(1,125)	0
Payment related to tax receivable agreement	(16,667)	0
Tax withholding payment related to net settlement of equity awards	(130)	(45)
Principal repayment of finance lease obligations	(654)	(680)
Net cash (used in) provided by financing activities from continuing operations	(11,076)	41,775
Net cash used in operating activities from discontinued operations	0	(11,429)
Net cash used in investing activities from discontinued operations	(1,346)	(308)
Net cash used in financing activities of discontinued operations	0	(65)
Net cash used in discontinued operations	(1,346)	(11,802)
Effect of exchange rate changes on cash	166	(161)
Net decrease in cash	(10,321)	(3,456)
Cash and cash equivalents at beginning of period	15,299	12,101
Cash and cash equivalents at end of period	4,978	8,645
Supplemental disclosures of cash flow information:
Cash paid for income taxes	79	0
Cash paid for interest	8,613	24,201
Supplemental disclosures of non-cash investing and financing activities:
Change in fair value of derivatives, net of tax	3,496	1,163
Goodwill adjustment for purchase price allocation	$ 187	$ 202

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2017		42,865,407
Beginning balance at Dec. 31, 2017	$ 378,664	$ 13	$ 330,113	$ 46,184	$ 2,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of tax guidance				180	(180)
Stock-based compensation	271		271
Vesting of restricted stock units (in shares)		29,050
Vesting of restricted stock units	0
Shares withheld related to net settlement of equity awards (in shares)		(3,205)
Shares withheld related to net settlement of equity awards	(45)		(45)
Other comprehensive income	(1,028)				(1,028)
Net income (loss)	(1,053)			(1,053)
Ending balance (in shares) at Mar. 31, 2018		42,891,252
Ending balance at Mar. 31, 2018	376,809	$ 13	330,339	45,311	1,146
Beginning balance (in shares) at Dec. 31, 2018		42,907,326
Beginning balance at Dec. 31, 2018	366,349	$ 13	332,330	34,187	(181)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	829		829
Vesting of restricted stock units (in shares)		93,014
Vesting of restricted stock units	0
Shares withheld related to net settlement of equity awards (in shares)		(13,657)
Shares withheld related to net settlement of equity awards	(130)		(130)
Other comprehensive income	(2,098)				(2,098)
Net income (loss)	3,482			3,482
Ending balance (in shares) at Mar. 31, 2019		42,986,683
Ending balance at Mar. 31, 2019	$ 368,432	$ 13	$ 333,029	$ 37,497	$ (2,107)

Business and Basis of Presentat

Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Business Foundation Building Materials, Inc. (the "Company") is a specialty building products distributor of wallboard, suspended ceiling systems, and metal framing throughout the U.S. and Canada. Based in Tustin, California, the Company employs more than 3,400 people and operates more than 175 branches across the U.S. and Canada. Organization The Company was formed on October 27, 2016 (inception). The initial stockholder of the Company was LSF9 Cypress Parent 2 LLC ("Parent 2") which held all of the Company's authorized, issued and outstanding shares of common stock. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. Reorganization On February 8, 2017, FBM Alpha LLC (formerly known as LSF9 Cypress Parent, LLC) ("Alpha"), transferred its wholly owned direct subsidiary Foundation Building Materials Holding Company LLC (formerly known as FBM Beta LLC and LSF9 Cypress Holdings, LLC) ("Holdco"), and indirectly FBM Finance, Inc., to the Company, thereby transferring the business for which historical financial information is included in these results of operations, to be indirectly held by the Company. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation with respect to the interim financial statements, have been included. The results of operations for interim periods are not necessarily indicative of the results for full fiscal years. For further information, refer to the consolidated financial statements and footnotes thereto for the year ended December 31, 2018, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2019 (the "2018 10-K").

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Adopted Accounting Standards In August 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-12, Derivative and Hedging (Topic 815): Targeted Improvement to Accounting for Hedging Activities , which amends the hedge accounting recognition and presentation requirements in Accounting Standard Codification topic 815. This amendment is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2019, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU No. 2016-02 establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either "finance" or "operating," with classification affecting the pattern of expense recognition in the income statement. This update was effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. As a result of the adoption of ASU 2016-02, on January 1, 2019, the Company recognized (a) an operating lease liability of $118.3 million , which represents the present value of our remaining lease payments and (b) a related right-of-use asset of $117.4 million . In addition, on January 1, 2019, the Company reclassified certain intangible assets related to real estate leases to right-of-use assets and reclassified its capital lease liability to a finance lease liability in accordance with the applicable transition guidance. The adoption of ASU 2016-02 did not have a material impact on the Company's statement of operations or cash flows. Due to the adoption of the standard using the retrospective cumulative-effect adjustment method, there are no changes to our previously reported results prior to January 1, 2019. Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill but rather requires an entity to record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value. This amendment is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On November 1, 2018, the Company completed the sale of its mechanical insulation business (the "Disposed Business") to SPI LLC, an unrelated third party controlled by Dunes Point Capital, for total cash consideration of approximately $122.5 million and recorded a gain on the sale of $13.7 million , net of taxes. For the three months ended March 31, 2019, the Company recorded a loss on the sale of discontinued operations of $1.3 million related to a customary purchase price adjustment. The Company reclassified the results of operations and cash flows of the Disposed Business to discontinued operations in its accompanying condensed consolidated statements of operations and condensed consolidated statements of cash flows for the three months ended March 31, 2018. The summarized financial information related to the Disposed Business that has been excluded from continuing operations and reported as discontinued operations in the accompanying consolidated statements of operations is as follows (in thousands): Three Months Ended Net sales $ 72,636 Cost of goods sold 52,633 Gross profit 20,003 Operating expenses: Selling, general and administrative expenses 16,770 Depreciation and amortization 1,489 Total operating expenses 18,259 Income from operations 1,744 Interest expense (13 ) Other expense, net (7 ) Income from discontinued operations before income taxes 1,724 Income tax expense 513 Net income from discontinued operations, net of tax $ 1,211 The operating results reflected above do not fully represent the Disposed Business' historical operating results, as the results reported within net income from discontinued operations only include expenses that are directly attributable to the Disposed Business.

Right-of-Use ("ROU") Assets and

Right-of-Use ("ROU") Assets and Lease Liabilities	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Right-of-Use (ROU) Assets and Lease Liabilities	Right-of-Use ("ROU") Assets and Lease Liabilities The Company leases the majority of its branch locations and office space and also leases vehicles and equipment for use in its operations. At inception, the Company determines whether an agreement represents a lease and at commencement, evaluates each lease agreement to determine whether the lease is an operating or finance lease. These leases do not have significant rent escalations, holidays, concessions, leasehold improvement incentives, or other build-out clauses. The Company elected to adopt the practical expedient to account for both lease and non-lease components as a single lease component. Certain leases include one or more options to renew. The exercise of lease renewal options is typically at the Company's discretion. The Company regularly evaluates the renewal options and, when the options are reasonably certain of being exercised, they are included in the lease term. Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for leased facilities and vehicles and equipment, which are paid based on actual costs incurred. Generally, leases do not provide an implicit rate; therefore, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company uses a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment. The following table summarizes the Company's operating and finance leases by country as of March 31, 2019 (in thousands): March 31, 2019 United States Canada Total Operating leases: Real estate ROU assets, gross $ 97,153 $ 15,069 $ 112,222 Accumulated amortization (6,341 ) (651 ) (6,992 ) Real estate ROU assets, net $ 90,812 $ 14,418 $ 105,230 Real estate lease liability $ 89,373 $ 14,373 $ 103,746 Vehicle and equipment ROU assets, gross $ 11,149 $ 586 $ 11,735 Accumulated amortization (668 ) (52 ) (720 ) Vehicle and equipment ROU assets, net $ 10,481 $ 534 $ 11,015 Vehicle and equipment - lease liability $ 10,480 $ 533 $ 11,013 Total ROU assets, net $ 101,293 $ 14,952 $ 116,245 Total operating lease liability $ 99,853 $ 14,906 $ 114,759 Finance leases included in property and equipment, net: Vehicle and equipment - ROU assets $ 6,379 $ 2,830 $ 9,209 Accumulated depreciation (488 ) (180 ) (668 ) Total vehicle and equipment ROU assets, net $ 5,891 $ 2,650 $ 8,541 Total vehicle and equipment lease liability $ 6,335 $ 2,973 $ 9,308 The components of lease cost for the three months ended March 31, 2019, are as follows (in thousands): Income Statement Classification Operating leases: Lease cost $ 8,052 Selling, general and administrative expenses Variable lease cost 1,053 Selling, general and administrative expenses Operating lease cost 9,105 Finance leases: Amortization of ROU assets 668 Depreciation and amortization Interest on lease liabilities 124 Interest expense Finance lease cost 792 Total lease cost $ 9,897 Supplemental cash flow information for leases for the three months ended March 31, 2019, is as follows (in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,618 Financing cash flows from finance leases $ 654 Right-of-use-assets obtained in exchange for lease obligations: Finance leases $ 185 Operating leases $ 120,555 The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases as of March 31, 2019, are as follows: Operating Leases Finance Leases Weighted average remaining lease term (years) 5.55 3.89 Weighted average discount rate 4.6% 5.2% The following table reconciles the undiscounted future lease payments for operating and finance leases to operating and finance lease liabilities recorded on the balance sheet at March 31, 2019 (in thousands): Operating Leases Finance Leases Total 2019 (excluding the three months ended March 31, 2019) $ 23,041 $ 2,321 $ 25,362 2020 27,823 2,891 30,714 2021 25,349 2,429 27,778 2022 19,405 1,483 20,888 2023 13,665 959 14,624 2024 and thereafter 20,914 160 21,074 Total lease payments $ 130,197 $ 10,243 $ 140,440 Less amount representing interest (15,438 ) (935 ) (16,373 ) Total $ 114,759 $ 9,308 $ 124,067 Current portion of lease liabilities $ 25,390 $ 2,671 $ 28,061 Long-term portion of lease liabilities $ 89,369 $ 6,637 $ 96,006 The Company's future minimum operating lease commitments, as of December 31, 2018, under Accounting Standards Codification ("ASC") Topic 840, the predecessor to Topic 842, were as follows: Years Ending December 31, Total 2019 $ 29,289 2020 26,202 2021 23,796 2022 18,120 2023 12,647 Thereafter 19,856 $ 129,910
Right-of-Use (ROU) Assets and Lease Liabilities	Right-of-Use ("ROU") Assets and Lease Liabilities The Company leases the majority of its branch locations and office space and also leases vehicles and equipment for use in its operations. At inception, the Company determines whether an agreement represents a lease and at commencement, evaluates each lease agreement to determine whether the lease is an operating or finance lease. These leases do not have significant rent escalations, holidays, concessions, leasehold improvement incentives, or other build-out clauses. The Company elected to adopt the practical expedient to account for both lease and non-lease components as a single lease component. Certain leases include one or more options to renew. The exercise of lease renewal options is typically at the Company's discretion. The Company regularly evaluates the renewal options and, when the options are reasonably certain of being exercised, they are included in the lease term. Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for leased facilities and vehicles and equipment, which are paid based on actual costs incurred. Generally, leases do not provide an implicit rate; therefore, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The Company uses a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment. The following table summarizes the Company's operating and finance leases by country as of March 31, 2019 (in thousands): March 31, 2019 United States Canada Total Operating leases: Real estate ROU assets, gross $ 97,153 $ 15,069 $ 112,222 Accumulated amortization (6,341 ) (651 ) (6,992 ) Real estate ROU assets, net $ 90,812 $ 14,418 $ 105,230 Real estate lease liability $ 89,373 $ 14,373 $ 103,746 Vehicle and equipment ROU assets, gross $ 11,149 $ 586 $ 11,735 Accumulated amortization (668 ) (52 ) (720 ) Vehicle and equipment ROU assets, net $ 10,481 $ 534 $ 11,015 Vehicle and equipment - lease liability $ 10,480 $ 533 $ 11,013 Total ROU assets, net $ 101,293 $ 14,952 $ 116,245 Total operating lease liability $ 99,853 $ 14,906 $ 114,759 Finance leases included in property and equipment, net: Vehicle and equipment - ROU assets $ 6,379 $ 2,830 $ 9,209 Accumulated depreciation (488 ) (180 ) (668 ) Total vehicle and equipment ROU assets, net $ 5,891 $ 2,650 $ 8,541 Total vehicle and equipment lease liability $ 6,335 $ 2,973 $ 9,308 The components of lease cost for the three months ended March 31, 2019, are as follows (in thousands): Income Statement Classification Operating leases: Lease cost $ 8,052 Selling, general and administrative expenses Variable lease cost 1,053 Selling, general and administrative expenses Operating lease cost 9,105 Finance leases: Amortization of ROU assets 668 Depreciation and amortization Interest on lease liabilities 124 Interest expense Finance lease cost 792 Total lease cost $ 9,897 Supplemental cash flow information for leases for the three months ended March 31, 2019, is as follows (in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,618 Financing cash flows from finance leases $ 654 Right-of-use-assets obtained in exchange for lease obligations: Finance leases $ 185 Operating leases $ 120,555 The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases as of March 31, 2019, are as follows: Operating Leases Finance Leases Weighted average remaining lease term (years) 5.55 3.89 Weighted average discount rate 4.6% 5.2% The following table reconciles the undiscounted future lease payments for operating and finance leases to operating and finance lease liabilities recorded on the balance sheet at March 31, 2019 (in thousands): Operating Leases Finance Leases Total 2019 (excluding the three months ended March 31, 2019) $ 23,041 $ 2,321 $ 25,362 2020 27,823 2,891 30,714 2021 25,349 2,429 27,778 2022 19,405 1,483 20,888 2023 13,665 959 14,624 2024 and thereafter 20,914 160 21,074 Total lease payments $ 130,197 $ 10,243 $ 140,440 Less amount representing interest (15,438 ) (935 ) (16,373 ) Total $ 114,759 $ 9,308 $ 124,067 Current portion of lease liabilities $ 25,390 $ 2,671 $ 28,061 Long-term portion of lease liabilities $ 89,369 $ 6,637 $ 96,006 The Company's future minimum operating lease commitments, as of December 31, 2018, under Accounting Standards Codification ("ASC") Topic 840, the predecessor to Topic 842, were as follows: Years Ending December 31, Total 2019 $ 29,289 2020 26,202 2021 23,796 2022 18,120 2023 12,647 Thereafter 19,856 $ 129,910

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company uses derivatives to manage selected foreign currency exchange rate risk for its investments in foreign subsidiaries and interest rate risk related to its variable rate debt. In general, the types of risks hedged are those relating to the variability of future earnings and cash flows caused by foreign currency exchange rate fluctuations and interest rates. The Company documents its risk management strategy and hedge effectiveness at the inception of and during the term of each hedge. Interest Rate Swap On January 31, 2019, the Company executed two interest rate swaps for a total notional amount of $310.0 million to fix the London Interbank Offered Rate (“LIBOR”) portion of its interest rate on its variable rate debt at 2.52% through January 31, 2022. There is no significant credit risk associated with the potential failure of any counterparty to perform under the terms of the interest rate swaps. The interest rate swaps are measured at fair value within the accompanying condensed consolidated balance sheets either as an asset or a liability. As of March 31, 2019, the fair value of the interest rate swaps was $3.0 million and was recorded in non-current other liabilities. The Company did not have any interest rate swaps as of December 31, 2018. For the three months ended March 31, 2019, the Company recognized a loss of $2.2 million , net of taxes of $0.8 million , in comprehensive income (loss). For the three months ended March 31, 2018, the Company did not have interest rate swaps outstanding. Net Investment Hedge As of March 31, 2019, the amount of notional foreign currency exchange rate contracts outstanding was approximately $88.0 million . There is no significant credit risk associated with the potential failure of any counterparty to perform under the terms of any derivative financial instrument. The net investment hedge is measured at fair value within the accompanying consolidated balance sheets either as an asset or a liability. As of March 31, 2019, the fair value of the derivative instrument was $2.4 million and was recorded in other current assets. As of December 31, 2018, the fair value of the derivative instrument was $4.3 million and was recorded in other non-current assets. For the three months ended March 31, 2019, the Company recognized a loss of $1.4 million , net of taxes of $0.5 million , in comprehensive income (loss) related to the total change in fair value of the net investment hedge. The Company recognized a gain of $1.2 million , net of taxes of $0.5 million , for the three months ended March 31, 2018, in comprehensive income (loss) related to the effective portion of the net investment hedge. On January 1, 2019, the Company adopted ASU 2017-12 - Targeted Improvements to Accounting for Hedging Activities and reclassified $0.2 million from retained earnings to other comprehensive income (loss) related to the cumulative ineffective portion of the net investment hedge .

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions The Company accounts for its acquisitions under the acquisition method, and accordingly, the results of operations of acquired entities are included in the Company’s consolidated financial statements from the acquisition date. Acquisition related costs are expensed as incurred. The purchase price is allocated to the assets acquired and liabilities assumed based on estimated fair values at the acquisition date, with the excess of purchase price over the estimated fair value of the net assets acquired recorded as goodwill. Purchase accounting adjustments associated with the intangible asset valuations have been recorded as of March 31, 2019. The fair value of acquired intangible assets, primarily related to customer relationships, was estimated by applying a discounted cash flow model. That measure is based on significant Level 3 inputs not observable in the market. Key assumptions were developed based on the Company’s historical experience, future projections and comparable market data including future cash flows, long-term growth rates, implied royalty rates, attrition rates and discount rates. The purchase price allocation for the acquisition set forth below is preliminary and subject to adjustment as additional information is obtained about facts and circumstances that existed as of the applicable acquisition date. During the three months ended March 31, 2019, the Company completed the following acquisition: Builders' Supplies Limited On February 4, 2019, the Company acquired certain assets of Builders' Supplies Limited and all of the shares of 2168828 Alberta Inc. and 2168829 Alberta Inc. (collectively, "BSL"). BSL was an independent distributor of specialty building products including wallboard, suspended ceiling systems, metal framing and insulation in the commercial market. BSL operated three branches in the Greater Toronto Area in Ontario, Canada. During the three months ended March 31, 2019, the Company completed the BSL acquisition for $10.8 million . This acquisition is not considered material. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands): Three Months Ended March 31, 2019 Assets acquired: Cash $ 1 Accounts receivable 3,532 Other receivables 2,005 Inventories 1,718 Property and equipment 497 Goodwill 2,246 Intangible assets 2,934 Total assets acquired 12,933 Liabilities assumed: Accounts payable (2,167 ) Accrued expenses and other current liabilities (8 ) Total liabilities assumed (2,175 ) Total net assets acquired $ 10,758 The excess of purchase price over the fair value amounts assigned to the assets acquired and liabilities assumed represents the goodwill amount resulting from the acquisition. Goodwill attributable to the acquisition has been recorded as a non-current asset and is not amortized, but is subject to review at least on an annual basis for impairment. Goodwill recognized was primarily attributable to expected operating efficiencies and expansion opportunities in the business acquired. Goodwill and intangible assets recognized from asset acquisitions are expected to be tax deductible. Generally, the most significant intangible asset acquired is customer relationships. The Company's acquisitions are generally subject to working capital adjustments; however, the Company does not expect any such adjustments to have a material impact on its consolidated financial statements. Any adjustments to the purchase price allocation of this acquisition will be made as soon as practicable but no later than one year from the acquisition date. The pro forma impact of the acquisition is not presented as the acquisition was not considered material to the Company's condensed consolidated financial statements.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The change in goodwill from December 31, 2018 to March 31, 2019, consisted of the following (in thousands): Carrying Value Balance at December 31, 2018 $ 484,941 Goodwill acquired 2,246 Purchase price allocation adjustments from prior periods 200 Impact of foreign currency exchange rates 501 Balance at March 31, 2019 $ 487,888 Identifiable intangible assets that are separable and have determinable useful lives are valued separately and amortized over their benefit period. The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Tradenames $ 15,980 $ (11,208 ) $ 4,772 $ 15,980 $ (10,423 ) $ 5,557 Customer relationships 253,605 (123,490 ) 130,115 250,498 (112,757 ) 137,741 Other intangible assets — — — 3,489 (911 ) 2,578 $ 269,585 $ (134,698 ) $ 134,887 $ 269,967 $ (124,091 ) $ 145,876 On January 1, 2019, the Company reclassified certain other intangible assets related to real estate leases to right-of-use assets in accordance with the applicable transition guidance in ASC 842. The weighted average amortization period of these intangible assets in the aggregate is 3.7 years.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Notes payable consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 2018 Term Loan Facility $ 448,875 $ 450,000 Unamortized deferred financing and issuance costs - term loan (7,217 ) (7,501 ) Revolving credit facilities 153,500 146,000 Unamortized deferred financing costs - revolving credit facilities (4,418 ) (4,673 ) $ 590,740 $ 583,826 2018 Term Loan Facility On August 13, 2018, the Company entered into a credit agreement by and among Alpha, Holdco, Royal Bank of Canada, as administrative agent and collateral agent, and the lenders party thereto (the “2018 Term Loan Facility”). The 2018 Term Loan Facility provides senior secured debt financing in an aggregate principal amount of $450.0 million and the right, at the Company’s option, to request additional tranches of term loans. Availability of such additional tranches of term loans will be subject to the absence of any default, and, among other things, the receipt of commitments by existing or additional financial institutions. Borrowings under the 2018 Term Loan Facility will bear interest at Holdco’s option at either (a) LIBOR determined by reference to the costs of funds for United States dollar deposits for the interest period relevant to such borrowing adjusted for certain additional costs, which shall be no less than 0.00% , plus an applicable margin of 3.25% (or 3.00% if the first lien net leverage ratio (as defined in the 2018 Term Loan Facility) is no greater than 4.00 to 1.00) or (b) a base rate determined by reference to the highest of (i) the prime commercial lending rate published by Royal Bank of Canada as its “prime rate,” (ii) the federal funds effective rate plus 0.50% and (iii) one-month LIBOR plus 1.0% , plus an applicable margin of 2.25% (or 2.00% if the first lien net leverage ratio (as defined in the 2018 Term Loan Facility) is no greater than 4.00 to 1.00). The Company will be required to make scheduled quarterly payments in an aggregate annual amount equal to 0.25% of the aggregate principal amount of the initial term loans made on August 13, 2018, with the balance due on August 13, 2025, seven years after the closing date for the initial term loans (as defined in the 2018 Term Loan Facility). Obligations under the 2018 Term Loan Facility are secured by a first priority lien on all Term Priority Collateral (as defined in the 2018 Term Loan Facility) and a second priority lien on all ABL Priority Collateral (as defined in the 2018 Term Loan Facility). The 2018 Term Loan Facility contains a number of covenants that, among other things and subject to certain exceptions, restrict Alpha’s ability and the ability of its subsidiaries to incur additional indebtedness, pay dividends on its equity securities or redeem, repurchase or retire its equity securities or other indebtedness, make investments, loans and acquisitions, create restrictions on the payment of dividends or other amounts to the Company from its restricted subsidiaries, engage in transactions with its affiliates, sell assets, including equity securities of its subsidiaries, alter the business it conducts, consolidate or merge and incur liens. 2018 Revolving Credit Facility On August 13, 2018, Alpha, Holdco, as the lead borrower, the additional U.S. borrowers party thereto from time to time, the Canadian borrowers party thereto from time to time (collectively, the “ABL Borrowers”), the lenders party thereto from time to time, Bank of America, N.A., as administrative agent and collateral agent (the “ABL Agent”), and the other agents party thereto, entered into the ABL Credit Agreement (the “2018 ABL Credit Agreement”), including the exhibits and schedules thereto (collectively, the “2018 Revolving Credit Facility”). The 2018 Revolving Credit Facility provides for senior secured revolving credit financing, including a United States revolving credit facility of initially up to $375.0 million (the “United States Revolving Credit Facility”), a Canadian revolving credit subfacility of initially up to $75.0 million (the “Canadian Revolving Credit Subfacility”) and a “first-in-last-out” (“FILO”) subfacility in an amount of up to $25.0 million in amortizing loans (the “FILO Subfacility”), subject, in each case, to availability under the respective borrowing bases for each facility. The aggregate amount of the 2018 Revolving Credit Facility is $375.0 million . On November 9, 2018, the Company terminated the $25.0 million FILO Subfacility. The 2018 Revolving Credit Facility includes a letter of credit subfacility, which permits up to $10.0 million of letters of credit under the United States Revolving Credit Facility (which may be denominated in United States dollars) and up to the dollar equivalent of $5.0 million of letters of credit under the Canadian Revolving Credit Subfacility (which may be denominated in Canadian dollars or United States dollars). In addition, pursuant to the 2018 Revolving Credit Facility, up to $50.0 million in the case of the United States Revolving Credit Facility, and $10.0 million in the case of the Canadian Revolving Credit Subfacility, may be short-term borrowings upon same-day notice. The 2018 Revolving Credit Facility is scheduled to mature on August 13, 2023. The amount of available credit for each of the United States Revolving Credit Facility and the Canadian Revolving Credit Subfacility changes every month, depending on the amount of eligible trade accounts, eligible credit card receivables, eligible inventory, eligible qualifying equipment and eligible cash the United States and Canadian loan parties have available to serve as collateral. Generally, each of the United States Revolving Credit Facility and the Canadian Revolving Credit Subfacility is limited to the sum of (a) 85% of eligible trade accounts (as defined in the 2018 Revolving Credit Facility), plus (b) 90% of eligible credit card accounts (as defined in the 2018 Revolving Credit Facility), plus (c) the lesser of (i) 75% of the value of the eligible inventory (as defined in the 2018 Revolving Credit Facility) and (ii) 85% of the net orderly liquidation value of the eligible inventory, plus (d) the lesser of (i) 85% of the net orderly liquidation value of eligible qualifying equipment and (ii) the amount obtained by multiplying (A) the amount obtained by dividing (x) the amount set forth in clause (c)(i) above by (y) the net book value of all eligible qualifying equipment as of the most recent annual appraisal, by (B) the net book value of eligible qualifying equipment (subject to amounts contributed to the borrowing base pursuant to this clause (d) being capped at the lesser of $50.0 million and 15% of the loan limit (as defined in the 2018 Revolving Credit Facility)), plus (e) eligible cash (as defined in the 2018 Revolving Credit Facility), minus (f) any eligible reserves on the borrowing base (as defined in the 2018 Revolving Credit Facility). Available credit for each tranche is calculated separately, and the borrowing base components are subject to customary reserves and eligibility criteria. Borrowings under the 2018 Revolving Credit Facility bear interest, at the Company’s option, at either an alternate base rate or Canadian prime rate, as applicable, plus an applicable margin (ranging from 0.25% to 0.75% pursuant to a grid based on average excess availability) or the LIBOR or Canadian CDOR rate (as defined therein), as applicable, plus an applicable margin (ranging from 1.25% to 1.75% pursuant to a grid based on average excess availability). In addition to paying interest on outstanding principal under the 2018 Revolving Credit Facility, the ABL Borrowers are required to pay a commitment fee in respect of the unutilized commitments under the 2018 Revolving Credit Facility ranging from 0.250% to 0.375% per annum and determined based on average utilization of the 2018 Revolving Credit Facility (increasing when utilization is low and decreasing when utilization is high). As long as commitments are outstanding under the 2018 Revolving Credit Facility, the Company is subject to certain restrictions under the facility if the Company’s pro forma adjusted EBITDA to debt ratio (the “Total Net Leverage Ratio”) exceeds a certain total. The Total Net Leverage Ratio is defined as the ratio of Consolidated Total Debt to the aggregate amount of Consolidated EBITDA for the Relevant Reference Period (as such terms are defined in the 2018 Revolving Credit Facility). Consolidated Total Debt is defined in the 2018 Revolving Credit Facility and is generally calculated as an amount equal to the aggregate outstanding principal amount of all third-party debt for borrowed money, unreimbursed drawings under letters of credit, capital lease obligations and third-party debt obligations evidenced by notes or similar instruments on a consolidated basis and determined in accordance with GAAP, subject to certain exclusions. Consolidated EBITDA is defined in the 2018 Revolving Credit Facility and is calculated in a similar manner to the Company’s calculation of Adjusted EBITDA, except that the 2018 Revolving Credit Facility permits pro forma adjustments in order to give effect to, among other things, the pro forma results of the Company’s acquisitions as if the Company had owned such acquired companies for the entirety of the Relevant Reference Period. These pro forma adjustments give effect to all acquisitions consummated in the four quarters ended March 31, 2019, as though they had been consummated on the first day of the second quarter of 2018. The 2018 Revolving Credit Facility requires the Company to maintain a Total Net Leverage Ratio no greater than 6.00 :1.00 to incur additional junior lien and unsecured indebtedness. As of March 31, 2019, the Company had $153.5 million of outstanding borrowings and $221.5 million of available aggregate undrawn borrowing capacity under the 2018 Revolving Credit Facility. The weighted average interest rate for borrowings under the 2018 Revolving Credit Facility for the three months ended March 31, 2019, was 4.1% . 2016 ABL Credit Facility On August 13, 2018, Alpha terminated its revolving commitments under its $300.0 million 2016 ABL Credit Facility. The weighted average interest rate for borrowings under the 2016 ABL Credit Facility for the three months ended March 31, 2018, was 3.1% . Upon termination of the 2016 ABL Credit Facility, the Company expensed $0.7 million in deferred financing costs and carried over $2.6 million of deferred financing costs to the 2018 Revolving Credit Facility. Senior Secured Notes On August 15, 2018, the Company redeemed all of the $575.0 million principal amount of its outstanding Senior Secured Notes (the "Notes") at a redemption price equal to 104.125% of the principal amount of Notes being redeemed plus accrued and unpaid interest. The Notes were issued in a private placement on August 9, 2016, at an issue price of 100% of the principal with a stated interest rate of 8.25% . Upon redemption of the Notes, the Company expensed $57.8 million of deferred financing costs, original issuance discounts and prepayment premiums, which are included in the statement of operations in loss on extinguishment of debt. Debt Issuance Costs Unamortized deferred financing and issuance costs as of March 31, 2019 were $11.6 million , of which $7.2 million were included in long-term portion of term loan, net and $4.4 million for the 2018 Revolving Credit Facility was included in other long-term assets in the accompanying consolidated balance sheets. Unamortized debt issuance costs as of December 31, 2018 were $12.2 million , of which $7.5 million was included in long-term portion of notes payable, net and $4.7 million for the 2018 Revolving Credit Facility was included in other long-term assets in the accompanying consolidated balance sheets. As of March 31, 2019, the Company was in compliance with all debt covenants under the 2018 Revolving Credit Facility and the 2018 Term Loan Facility.

Tax Receivable Agreement

Tax Receivable Agreement	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Tax Receivable Agreement	Tax Receivable Agreement In connection with the Company's initial public offering ("IPO"), the Company entered into a tax receivable agreement ("TRA") with Parent 2 that provides for the payment by the Company to Parent 2 of 90% of the amount of cash savings, if any, in U.S. federal, state, local and non-U.S. income tax that the Company realizes (or in some circumstances is deemed to realize) as a result of the utilization of the Company's and the Company’s subsidiaries’ (a) depreciation and amortization deductions, and any offset to taxable income and gain or increase to taxable loss, resulting from the tax basis the Company has in its assets at the consummation of the IPO, (b) net operating losses, (c) tax credits and (d) certain other tax attributes. At the end of each reporting period, any changes in the Company's estimate of the liability will be recorded in the consolidated statement of operations as a component of other income (expense). The timing and amount of future tax benefits associated with the TRA are subject to change, and future payments may be required which could be materially different from the current estimated liability. The TRA will remain in effect until all tax benefits have been used or expired, unless the agreement is terminated early. As of March 31, 2019 and December 31, 2018, the TRA liability balance was $117.9 million and $134.6 million , respectively. The first payment related to the TRA was made in January 2019 for $16.7 million . Income Taxes Income tax expense for the three months ended March 31, 2019, was $2.0 million compared to an income tax benefit of $1.4 million for the three months ended March 31, 2018. For the three months ended March 31, 2019 and 2018, the Company's effective tax rates were 29.8% and 38.2% , respectively. The variance from the statutory federal tax rate of 21.0% for the three months ended March 31, 2019, was primarily due to state taxes, a discrete tax benefit associated with stock-based compensation, and foreign rate differential. The variance from the statutory federal tax rate of 21.0% for the three months ended March 31, 2018, was primarily due to a refinement of the provisional estimate of the one-time repatriation tax under the 2017 Tax Cuts and Jobs Act, treated as a discrete item during the quarter, state income taxes and foreign rate differential.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of cumulative unrealized foreign currency translation adjustments and unrealized changes in fair value on certain derivative instruments. The components of accumulated other comprehensive loss for the three months ended March 31, 2019, were as follows (in thousands): Foreign Currency Translation (Losses) Gains Unrealized Gain (Loss) on Derivatives, Net of Taxes Total Balance at December 31, 2018 $ (3,085 ) $ 2,904 $ (181 ) Other comprehensive income (loss) 1,570 (3,496 ) (1,926 ) Balance at March 31, 2019 $ (1,515 ) $ (592 ) $ (2,107 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is involved in certain legal actions arising in the ordinary course of business. The Company regularly assesses such matters to determine the degree of probability that the Company will incur a material loss as a result of such matters as well as the range of possible loss. An estimated loss contingency is accrued in the Company’s financial statements if it is probable the Company will incur a loss and the amount of the loss can be reasonably estimated. The Company reviews all claims, proceedings and investigations at least quarterly and establishes or adjusts any accruals for such matters to reflect the impact of negotiations, settlements, advice of legal counsel and other information and events pertaining to a particular matter. All legal costs associated with such matters are expensed as incurred. Because of uncertainties related to pending actions, the Company is currently unable to predict the ultimate outcome of such legal actions, and, with respect to any legal action where no liability has been accrued, to make a meaningful estimate of the reasonably possible loss or range of loss that could result from an adverse outcome. Historically, the claims, proceedings and investigations brought against the Company, individually and in the aggregate, have not had a material adverse effect on the consolidated results of operations, cash flows or financial position of the Company. As of March 31, 2019, there were no proceedings or litigation involving the Company that management believes would have a material adverse impact on its business, financial position, results of operations, or cash flows.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company’s financial instruments consist primarily of cash and cash equivalents, trade and other receivables, derivative instruments, accounts payable, long-term debt and accrued liabilities. The carrying value of the Company’s trade receivables, trade payables, the 2018 Revolving Credit Facility and accrued liabilities approximates fair value due to their short-term maturity. The Company may adjust the carrying amount of certain nonfinancial assets to fair value on a non-recurring basis when they are impaired. The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis as of March 31, 2019, is as follows (in thousands): Fair Value Measurements as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Other current assets Derivative asset (Note 5) $ — $ 2,434 $ — $ 2,434 Non-current liabilities Derivative liability (Note 5) $ — $ (2,962 ) $ — $ (2,962 ) The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2018, is as follows (in thousands): Fair Value Measurements as of December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current assets Derivative asset (Note 5) $ — $ 4,344 $ — $ 4,344 The fair values of derivative assets and liabilities are determined using quantitative models that utilize multiple market inputs including interest rates and exchange rates to generate continuous yield or pricing curves and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. The fair values of derivative assets and liabilities include adjustments for market liquidity, counterparty credit quality and other instrument-specific factors, where appropriate. In addition, the Company incorporates within its fair value measurements a valuation adjustment to reflect the credit risk associated with the net position. Positions are netted by counterparties, and fair value for net long exposures is adjusted for counterparty credit risk while the fair value for net short exposures is adjusted for the Company’s own credit risk.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Tax Receivable Agreement In connection with the Company's initial public offering ("IPO"), the Company entered into a tax receivable agreement ("TRA") with Parent 2 that provides for the payment by the Company to Parent 2 of 90% of the amount of cash savings, if any, in U.S. federal, state, local and non-U.S. income tax that the Company realizes (or in some circumstances is deemed to realize) as a result of the utilization of the Company's and the Company’s subsidiaries’ (a) depreciation and amortization deductions, and any offset to taxable income and gain or increase to taxable loss, resulting from the tax basis the Company has in its assets at the consummation of the IPO, (b) net operating losses, (c) tax credits and (d) certain other tax attributes. At the end of each reporting period, any changes in the Company's estimate of the liability will be recorded in the consolidated statement of operations as a component of other income (expense). The timing and amount of future tax benefits associated with the TRA are subject to change, and future payments may be required which could be materially different from the current estimated liability. The TRA will remain in effect until all tax benefits have been used or expired, unless the agreement is terminated early. As of March 31, 2019 and December 31, 2018, the TRA liability balance was $117.9 million and $134.6 million , respectively. The first payment related to the TRA was made in January 2019 for $16.7 million . Income Taxes Income tax expense for the three months ended March 31, 2019, was $2.0 million compared to an income tax benefit of $1.4 million for the three months ended March 31, 2018. For the three months ended March 31, 2019 and 2018, the Company's effective tax rates were 29.8% and 38.2% , respectively. The variance from the statutory federal tax rate of 21.0% for the three months ended March 31, 2019, was primarily due to state taxes, a discrete tax benefit associated with stock-based compensation, and foreign rate differential. The variance from the statutory federal tax rate of 21.0% for the three months ended March 31, 2018, was primarily due to a refinement of the provisional estimate of the one-time repatriation tax under the 2017 Tax Cuts and Jobs Act, treated as a discrete item during the quarter, state income taxes and foreign rate differential.

Segments

Segments	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segments	Segments Segment information is presented in accordance with ASC 280, Segment Reporting, which establishes standards for reporting information about operating segments. It also establishes standards for related disclosures about customers, products and geographic areas. Operating segments are defined as components of an enterprise that engage in business activities that earn revenues, incur expenses and prepare separate financial information that is evaluated regularly by the Company’s Chief Operating Decision Maker ("CODM") in order to allocate resources and assess performance. Resources are allocated and performance is assessed by the CODM. Based on the provisions of ASC 280, the Company has defined its operating segment by considering management structure and product offerings. This evaluation resulted in one reportable segment. As discussed in Note 3, Discontinued Operations, the Company closed the sale of the Disposed Business on November 1, 2018, which was previously reported as the Mechanical Insulation segment. The previously reported amounts for the Mechanical Insulation segment have been reclassified to discontinued operations for all periods presented. The Company’s continuing operations now consist of what was previously reported as the Specialty Building Products segment for the three months ended March 31, 2018. Revenues are attributed to each country based on the location in which sales originate and in which assets are located. The Company generates the majority of its revenue in the United States with the remainder being generated in Canada. For the three months ended March 31, 2019, 90.6% and 9.4% of the Company's revenue was generated in the United States and Canada, respectively. For the three months ended March 31, 2018, 87.5% and 12.5% of the Company's revenue was generated in the United States and Canada, respectively. The following table sets forth property, plant and equipment, right-of-use assets, goodwill and intangibles by geographic area (in thousands): March 31, 2019 December 31, 2018 Property, plant and equipment, net United States $ 133,901 $ 137,252 Canada 14,590 14,389 Total property, plant and equipment, net $ 148,491 $ 151,641 Right-of-use assets, net United States $ 101,293 $ — Canada 14,952 — Total right-of-use assets, net $ 116,245 $ — Goodwill United States $ 460,584 $ 460,384 Canada 27,304 24,557 Total goodwill $ 487,888 $ 484,941 Intangibles, net United States $ 127,740 $ 141,186 Canada 7,147 4,690 Total intangibles, net $ 134,887 $ 145,876 The Company’s net sales by major product line are as follows (in thousands): Three Months Ended March 31, Change 2019 2018 $ % Wallboard $ 202,914 39.4 % $ 180,653 39.0 % $ 22,261 12.3 % Suspended ceiling systems 88,996 17.3 % 86,179 18.6 % 2,817 3.3 % Metal framing 99,251 19.3 % 73,967 16.0 % 25,284 34.2 % Complementary and other products 123,711 24.0 % 122,862 26.4 % 849 0.7 % Total net sales $ 514,872 100.0 % $ 463,661 100.0 % $ 51,211 11.0 %

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities The balance of other current liabilities consisted of the following (in thousands): March 31, 2019 December 31, 2018 Accrued expenses $ 4,914 $ 5,080 Accrued interest 390 1,315 Accrued other 13,545 13,584 Total other current liabilities $ 18,849 $ 19,979

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share represents net income (loss) for the period divided by the weighted average number of shares of common stock outstanding for the period. The following are the number of shares of common stock used to compute the basic and diluted earnings (loss) per share for each period: Three Months Ended March 31, 2019 2018 Weighted average shares used in basic computations 42,932,024 42,879,874 Dilutive effect of stock options and restricted stock units 12,805 — Weighted average shares used in diluted computations 42,944,829 42,879,874 For the three months ended March 31, 2019 and 2018, there were 628,220 and 290,000 shares, respectively, not included in the computation of diluted weighted average shares because their effect would have been antidilutive.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 1, 2019, the Company acquired the operations and substantially all of the assets of Select Acoustic Supply Inc., ("Select"). Select was an independent distributor of suspended ceiling systems. Select operated one branch in the Greater Toronto Area in Ontario, Canada.

Recently Issued Accounting St_2

Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In August 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2017-12, Derivative and Hedging (Topic 815): Targeted Improvement to Accounting for Hedging Activities , which amends the hedge accounting recognition and presentation requirements in Accounting Standard Codification topic 815. This amendment is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted this guidance on January 1, 2019, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU No. 2016-02 establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either "finance" or "operating," with classification affecting the pattern of expense recognition in the income statement. This update was effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. As a result of the adoption of ASU 2016-02, on January 1, 2019, the Company recognized (a) an operating lease liability of $118.3 million , which represents the present value of our remaining lease payments and (b) a related right-of-use asset of $117.4 million . In addition, on January 1, 2019, the Company reclassified certain intangible assets related to real estate leases to right-of-use assets and reclassified its capital lease liability to a finance lease liability in accordance with the applicable transition guidance. The adoption of ASU 2016-02 did not have a material impact on the Company's statement of operations or cash flows. Due to the adoption of the standard using the retrospective cumulative-effect adjustment method, there are no changes to our previously reported results prior to January 1, 2019. Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-04, Intangibles and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which eliminates the requirement to calculate the implied fair value of goodwill but rather requires an entity to record an impairment charge based on the excess of a reporting unit’s carrying value over its fair value. This amendment is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The summarized financial information related to the Disposed Business that has been excluded from continuing operations and reported as discontinued operations in the accompanying consolidated statements of operations is as follows (in thousands): Three Months Ended Net sales $ 72,636 Cost of goods sold 52,633 Gross profit 20,003 Operating expenses: Selling, general and administrative expenses 16,770 Depreciation and amortization 1,489 Total operating expenses 18,259 Income from operations 1,744 Interest expense (13 ) Other expense, net (7 ) Income from discontinued operations before income taxes 1,724 Income tax expense 513 Net income from discontinued operations, net of tax $ 1,211

Right-of-Use ("ROU") Assets a_2

Right-of-Use ("ROU") Assets and Lease Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule Of Operating And Finance Lease Liabilities	The following table summarizes the Company's operating and finance leases by country as of March 31, 2019 (in thousands): March 31, 2019 United States Canada Total Operating leases: Real estate ROU assets, gross $ 97,153 $ 15,069 $ 112,222 Accumulated amortization (6,341 ) (651 ) (6,992 ) Real estate ROU assets, net $ 90,812 $ 14,418 $ 105,230 Real estate lease liability $ 89,373 $ 14,373 $ 103,746 Vehicle and equipment ROU assets, gross $ 11,149 $ 586 $ 11,735 Accumulated amortization (668 ) (52 ) (720 ) Vehicle and equipment ROU assets, net $ 10,481 $ 534 $ 11,015 Vehicle and equipment - lease liability $ 10,480 $ 533 $ 11,013 Total ROU assets, net $ 101,293 $ 14,952 $ 116,245 Total operating lease liability $ 99,853 $ 14,906 $ 114,759 Finance leases included in property and equipment, net: Vehicle and equipment - ROU assets $ 6,379 $ 2,830 $ 9,209 Accumulated depreciation (488 ) (180 ) (668 ) Total vehicle and equipment ROU assets, net $ 5,891 $ 2,650 $ 8,541 Total vehicle and equipment lease liability $ 6,335 $ 2,973 $ 9,308
Lease, Cost	The components of lease cost for the three months ended March 31, 2019, are as follows (in thousands): Income Statement Classification Operating leases: Lease cost $ 8,052 Selling, general and administrative expenses Variable lease cost 1,053 Selling, general and administrative expenses Operating lease cost 9,105 Finance leases: Amortization of ROU assets 668 Depreciation and amortization Interest on lease liabilities 124 Interest expense Finance lease cost 792 Total lease cost $ 9,897 Supplemental cash flow information for leases for the three months ended March 31, 2019, is as follows (in thousands): Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,618 Financing cash flows from finance leases $ 654 Right-of-use-assets obtained in exchange for lease obligations: Finance leases $ 185 Operating leases $ 120,555 The weighted-average remaining lease term and weighted-average discount rate for operating and finance leases as of March 31, 2019, are as follows: Operating Leases Finance Leases Weighted average remaining lease term (years) 5.55 3.89 Weighted average discount rate 4.6% 5.2%
Finance Lease, Liability, Maturity	The following table reconciles the undiscounted future lease payments for operating and finance leases to operating and finance lease liabilities recorded on the balance sheet at March 31, 2019 (in thousands): Operating Leases Finance Leases Total 2019 (excluding the three months ended March 31, 2019) $ 23,041 $ 2,321 $ 25,362 2020 27,823 2,891 30,714 2021 25,349 2,429 27,778 2022 19,405 1,483 20,888 2023 13,665 959 14,624 2024 and thereafter 20,914 160 21,074 Total lease payments $ 130,197 $ 10,243 $ 140,440 Less amount representing interest (15,438 ) (935 ) (16,373 ) Total $ 114,759 $ 9,308 $ 124,067 Current portion of lease liabilities $ 25,390 $ 2,671 $ 28,061 Long-term portion of lease liabilities $ 89,369 $ 6,637 $ 96,006
Lessee, Operating Lease, Liability, Maturity	The following table reconciles the undiscounted future lease payments for operating and finance leases to operating and finance lease liabilities recorded on the balance sheet at March 31, 2019 (in thousands): Operating Leases Finance Leases Total 2019 (excluding the three months ended March 31, 2019) $ 23,041 $ 2,321 $ 25,362 2020 27,823 2,891 30,714 2021 25,349 2,429 27,778 2022 19,405 1,483 20,888 2023 13,665 959 14,624 2024 and thereafter 20,914 160 21,074 Total lease payments $ 130,197 $ 10,243 $ 140,440 Less amount representing interest (15,438 ) (935 ) (16,373 ) Total $ 114,759 $ 9,308 $ 124,067 Current portion of lease liabilities $ 25,390 $ 2,671 $ 28,061 Long-term portion of lease liabilities $ 89,369 $ 6,637 $ 96,006
Schedule of Future Minimum Rental Payments for Operating Leases	The Company's future minimum operating lease commitments, as of December 31, 2018, under Accounting Standards Codification ("ASC") Topic 840, the predecessor to Topic 842, were as follows: Years Ending December 31, Total 2019 $ 29,289 2020 26,202 2021 23,796 2022 18,120 2023 12,647 Thereafter 19,856 $ 129,910

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date (in thousands): Three Months Ended March 31, 2019 Assets acquired: Cash $ 1 Accounts receivable 3,532 Other receivables 2,005 Inventories 1,718 Property and equipment 497 Goodwill 2,246 Intangible assets 2,934 Total assets acquired 12,933 Liabilities assumed: Accounts payable (2,167 ) Accrued expenses and other current liabilities (8 ) Total liabilities assumed (2,175 ) Total net assets acquired $ 10,758

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in goodwill from December 31, 2018 to March 31, 2019, consisted of the following (in thousands): Carrying Value Balance at December 31, 2018 $ 484,941 Goodwill acquired 2,246 Purchase price allocation adjustments from prior periods 200 Impact of foreign currency exchange rates 501 Balance at March 31, 2019 $ 487,888
Schedule of Finite-Lived Intangible Assets	The following is the gross carrying value and accumulated amortization of the Company’s identifiable intangible assets as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Tradenames $ 15,980 $ (11,208 ) $ 4,772 $ 15,980 $ (10,423 ) $ 5,557 Customer relationships 253,605 (123,490 ) 130,115 250,498 (112,757 ) 137,741 Other intangible assets — — — 3,489 (911 ) 2,578 $ 269,585 $ (134,698 ) $ 134,887 $ 269,967 $ (124,091 ) $ 145,876

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Notes Payable	Notes payable consisted of the following at March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 2018 Term Loan Facility $ 448,875 $ 450,000 Unamortized deferred financing and issuance costs - term loan (7,217 ) (7,501 ) Revolving credit facilities 153,500 146,000 Unamortized deferred financing costs - revolving credit facilities (4,418 ) (4,673 ) $ 590,740 $ 583,826

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss for the three months ended March 31, 2019, were as follows (in thousands): Foreign Currency Translation (Losses) Gains Unrealized Gain (Loss) on Derivatives, Net of Taxes Total Balance at December 31, 2018 $ (3,085 ) $ 2,904 $ (181 ) Other comprehensive income (loss) 1,570 (3,496 ) (1,926 ) Balance at March 31, 2019 $ (1,515 ) $ (592 ) $ (2,107 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis as of March 31, 2019, is as follows (in thousands): Fair Value Measurements as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Other current assets Derivative asset (Note 5) $ — $ 2,434 $ — $ 2,434 Non-current liabilities Derivative liability (Note 5) $ — $ (2,962 ) $ — $ (2,962 ) The estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured and recorded at fair value on a recurring basis as of December 31, 2018, is as follows (in thousands): Fair Value Measurements as of December 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Fair Value Recurring: Non-current assets Derivative asset (Note 5) $ — $ 4,344 $ — $ 4,344

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table sets forth property, plant and equipment, right-of-use assets, goodwill and intangibles by geographic area (in thousands): March 31, 2019 December 31, 2018 Property, plant and equipment, net United States $ 133,901 $ 137,252 Canada 14,590 14,389 Total property, plant and equipment, net $ 148,491 $ 151,641 Right-of-use assets, net United States $ 101,293 $ — Canada 14,952 — Total right-of-use assets, net $ 116,245 $ — Goodwill United States $ 460,584 $ 460,384 Canada 27,304 24,557 Total goodwill $ 487,888 $ 484,941 Intangibles, net United States $ 127,740 $ 141,186 Canada 7,147 4,690 Total intangibles, net $ 134,887 $ 145,876
Schedule of Revenue from External Customers by Products and Services	The Company’s net sales by major product line are as follows (in thousands): Three Months Ended March 31, Change 2019 2018 $ % Wallboard $ 202,914 39.4 % $ 180,653 39.0 % $ 22,261 12.3 % Suspended ceiling systems 88,996 17.3 % 86,179 18.6 % 2,817 3.3 % Metal framing 99,251 19.3 % 73,967 16.0 % 25,284 34.2 % Complementary and other products 123,711 24.0 % 122,862 26.4 % 849 0.7 % Total net sales $ 514,872 100.0 % $ 463,661 100.0 % $ 51,211 11.0 %

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	The balance of other current liabilities consisted of the following (in thousands): March 31, 2019 December 31, 2018 Accrued expenses $ 4,914 $ 5,080 Accrued interest 390 1,315 Accrued other 13,545 13,584 Total other current liabilities $ 18,849 $ 19,979

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following are the number of shares of common stock used to compute the basic and diluted earnings (loss) per share for each period: Three Months Ended March 31, 2019 2018 Weighted average shares used in basic computations 42,932,024 42,879,874 Dilutive effect of stock options and restricted stock units 12,805 — Weighted average shares used in diluted computations 42,944,829 42,879,874

Business and Basis of Present_2

Business and Basis of Presentation (Details)	Mar. 31, 2019employeebranch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of employees (more than) | employee	3,400
Number of branch locations (more than) | branch	175

Recently Issued Accounting St_3

Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Operating lease liability	$ 114,759
Right-of-use asset	$ 116,245		$ 0
Accounting Standards Update 2016-02
Summary Of Significant Accounting Policies [Line Items]
Operating lease liability		$ 118,300
Right-of-use asset		$ 117,400

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	Nov. 01, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of discontinued operations, net of tax		$ (1,346)	$ 0
Operating expenses:
Net income from discontinued operations, net of tax		0	1,211
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total cash consideration	$ 122,500
Gain (loss) on sale of discontinued operations, net of tax	$ 13,700	$ (1,300)
Net sales			72,636
Cost of goods sold			52,633
Gross profit			20,003
Operating expenses:
Selling, general and administrative expenses			16,770
Depreciation and amortization			1,489
Total operating expenses			18,259
Income from operations			1,744
Interest expense			(13)
Other expense, net			(7)
Income from discontinued operations before income taxes			1,724
Income tax expense			513
Net income from discontinued operations, net of tax			$ 1,211

Right-of-Use ("ROU") Assets a_3

Right-of-Use ("ROU") Assets and Lease Liabilities - Operating and Finance Lease Liability (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)renewal_option	Dec. 31, 2018USD ($)
Leases [Abstract]
Number of renewal options | renewal_option	1
Operating leases:
Right-of-use asset	$ 116,245	$ 0
Operating lease liability	114,759
Finance leases included in property and equipment, net:
Vehicle and equipment - ROU assets	9,209
Accumulated depreciation	(668)
Total vehicle and equipment ROU assets, net	8,541
Total vehicle and equipment lease liability	9,308
Real Estate
Operating leases:
Operating lease, right-of-use asset	112,222
Operating lease, accumulated amortization	(6,992)
Right-of-use asset	105,230
Operating lease liability	103,746
Vehicles and equipment
Operating leases:
Operating lease, right-of-use asset	11,735
Operating lease, accumulated amortization	(720)
Right-of-use asset	11,015
Operating lease liability	11,013
United States
Operating leases:
Right-of-use asset	101,293	0
Operating lease liability	99,853
Finance leases included in property and equipment, net:
Vehicle and equipment - ROU assets	6,379
Accumulated depreciation	(488)
Total vehicle and equipment ROU assets, net	5,891
Total vehicle and equipment lease liability	6,335
United States | Real Estate
Operating leases:
Operating lease, right-of-use asset	97,153
Operating lease, accumulated amortization	(6,341)
Right-of-use asset	90,812
Operating lease liability	89,373
United States | Vehicles and equipment
Operating leases:
Operating lease, right-of-use asset	11,149
Operating lease, accumulated amortization	(668)
Right-of-use asset	10,481
Operating lease liability	10,480
Canada
Operating leases:
Right-of-use asset	14,952	$ 0
Operating lease liability	14,906
Finance leases included in property and equipment, net:
Vehicle and equipment - ROU assets	2,830
Accumulated depreciation	(180)
Total vehicle and equipment ROU assets, net	2,650
Total vehicle and equipment lease liability	2,973
Canada | Real Estate
Operating leases:
Operating lease, right-of-use asset	15,069
Operating lease, accumulated amortization	(651)
Right-of-use asset	14,418
Operating lease liability	14,373
Canada | Vehicles and equipment
Operating leases:
Operating lease, right-of-use asset	586
Operating lease, accumulated amortization	(52)
Right-of-use asset	534
Operating lease liability	$ 533

Right-of-Use ("ROU") Assets a_4

Right-of-Use ("ROU") Assets and Lease Liabilities - Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating leases:
Lease cost	$ 8,052
Variable lease cost	1,053
Operating lease cost	9,105
Finance leases:
Amortization of ROU assets	668
Interest on lease liabilities	124
Finance lease cost	792
Total lease cost	9,897
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	6,618
Financing cash flows from finance leases	654
Right-of-use-assets obtained in exchange for lease obligations:
Finance leases	185
Operating leases	$ 120,555
Operating Leases
Weighted average remaining lease term (years)	5 years 6 months 18 days
Weighted average discount rate	4.60%
Finance Leases
Weighted average remaining lease term (years)	5.20%
Weighted average discount rate	3 years 10 months 21 days

Right-of-Use ("ROU") Assets a_5

Right-of-Use ("ROU") Assets and Lease Liabilities - Schedule of Operating and Finance Lease Maturity (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating leases:
2019 (excluding the three months ended March 31, 2019)	$ 23,041
2020	27,823
2021	25,349
2022	19,405
2023	13,665
2024 and thereafter	20,914
Total lease payments	130,197
Less amount representing interest	(15,438)
Total	114,759
Current portion of lease liabilities	25,390
Long-term portion of lease liabilities	89,369
Finance leases:
2019 (excluding the three months ended March 31, 2019)	2,321
2020	2,891
2021	2,429
2022	1,483
2023	959
2024 and thereafter	160
Total lease payments	10,243
Less amount representing interest	(935)
Total	9,308
Current portion of lease liabilities	2,671
Long-term portion of lease liabilities	6,637
Total
2019 (excluding the three months ended March 31, 2019)	25,362
2020	30,714
2021	27,778
2022	20,888
2023	14,624
2024 and thereafter	21,074
Total lease payments	140,440
Less amount representing interest	16,373
Total	124,067
Current portion of lease liabilities	28,061
Long-term portion of lease liabilities	$ 96,006

Right-of-Use ("ROU") Assets a_6

Right-of-Use ("ROU") Assets and Lease Liabilities Right-of-Use ("ROU") Assets and Lease Liabilities - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 29,289
2020	26,202
2021	23,796
2022	18,120
2023	12,647
Thereafter	19,856
Future minimum payments due	$ 129,910

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Details)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Jan. 31, 2019USD ($)interest_rate_swap	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Derivative [Line Items]
Net of tax effect on unrealized gain (loss) on derivatives	$ 1,300,000	$ 500,000
Interest Rate Swap | Other Noncurrent Liabilities
Derivative [Line Items]
Fair value asset of derivative instrument	3,000,000
Foreign Exchange Contract
Derivative [Line Items]
Gain (loss) recognized	(2,200,000)
Net of tax effect on unrealized gain (loss) on derivatives	(800,000)
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Notional foreign exchange contract outstanding	88,000,000
Gain (loss) recognized	(1,400,000)
Net of tax effect on unrealized gain (loss) on derivatives	(500,000)
Gain recognized in other comprehensive income in prior period		1,200,000
Tax effect of gain recognized in prior period		$ 500,000
Designated as Hedging Instrument | Foreign Exchange Contract | Other Noncurrent Assets
Derivative [Line Items]
Fair value asset of derivative instrument	$ 2,400,000				$ 4,300,000
London Interbank Offered Rate (LIBOR) | Interest Rate Swap
Derivative [Line Items]
Number of interest rate swaps | interest_rate_swap			2
Notional foreign exchange contract outstanding			$ 310,000,000
Variable interest rate			2.52%
Other Comprehensive Loss | Adoption of derivatives guidance
Derivative [Line Items]
Cumulative effect of new accounting principle				$ 172,000
Other Comprehensive Loss | Adoption of derivatives guidance | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative effect of new accounting principle				200,000
Retained Earnings | Adoption of derivatives guidance
Derivative [Line Items]
Cumulative effect of new accounting principle				(172,000)
Retained Earnings | Adoption of derivatives guidance | Designated as Hedging Instrument
Derivative [Line Items]
Cumulative effect of new accounting principle				$ (200,000)

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)branch	Feb. 04, 2019branch
Business Acquisition [Line Items]
Number of branch locations	175
BSL
Business Acquisition [Line Items]
Consideration transferred | $	$ 10.8
Canada | BSL
Business Acquisition [Line Items]
Number of branch locations		3

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets acquired:
Goodwill	$ 487,888	$ 484,941
BSL
Assets acquired:
Cash	1
Accounts receivable	3,532
Other receivables	2,005
Inventories	1,718
Property and equipment	497
Goodwill	2,246
Intangible assets	2,934
Total assets acquired	12,933
Liabilities assumed:
Accounts payable	(2,167)
Accrued expenses and other current liabilities	(8)
Total liabilities assumed	(2,175)
Total net assets acquired	$ 10,758

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 484,941
Goodwill acquired	2,246
Purchase price allocation adjustments from prior periods	200
Impact of foreign currency exchange rates	501
Ending balance	$ 487,888

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 269,585	$ 269,967
Accumulated Amortization	(134,698)	(124,091)
Intangibles assets, net	134,887	145,876
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	15,980	15,980
Accumulated Amortization	(11,208)	(10,423)
Intangibles assets, net	4,772	5,557
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	253,605	250,498
Accumulated Amortization	(123,490)	(112,757)
Intangibles assets, net	130,115	137,741
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	3,489
Accumulated Amortization	0	(911)
Intangibles assets, net	$ 0	$ 2,578

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average useful life	3 years 8 months

Long-Term Debt - Schedule of No

Long-Term Debt - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Aug. 15, 2018
Debt Instrument [Line Items]
Long-term debt	$ 590,740	$ 583,826
Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross			$ (575,000)
Revolving credit facilities
Debt Instrument [Line Items]
Long-term debt, gross	(153,500)	(146,000)
Unamortized deferred financing and issuance costs - term loan	(4,418)	(4,673)
2018 Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	(448,875)	(450,000)
Unamortized deferred financing and issuance costs - term loan	$ (7,217)	$ (7,501)

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Aug. 15, 2018USD ($)	Aug. 13, 2018USD ($)	Aug. 09, 2016	Mar. 31, 2019USD ($)	Mar. 31, 2018	Dec. 31, 2018USD ($)
2018 Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross				$ 448,875,000		$ 450,000,000
Revolving asset-based credit facility				7,217,000		7,501,000
2018 U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 50,000,000
Maximum borrowing capacity		375,000,000
2018 Canadian Revolving Credit Subfacility
Debt Instrument [Line Items]
Debt instrument, face amount		10,000,000
Maximum borrowing capacity		75,000,000
2018 FILO Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		25,000,000
2018 ABL Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 375,000,000
Maximum borrowing capacity				153,500,000
Percentage of eligible trade accounts		85.00%
Percentage of eligible credit card accounts		90.00%
Percentage of eligible inventory		75.00%
Percentage of net orderly liquidation value of eligible inventory		85.00%
Percentage of net orderly liquidation value of eligible qualifying equipment		85.00%
Percentage of capped loan limit of eligible qualifying equipment		15.00%
Total net leverage ratio		6
Remaining borrowing capacity				$ 221,500,000
Weighted average interest rate				4.10%
Deferred financing cost expensed		$ 2,600,000
2018 ABL Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.25%
2018 ABL Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee percentage		0.375%
2018 ABL Credit Facility | Alternate Base Rate Or Canadian Prime Rate, Plus An Applicable Margin | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.25%
2018 ABL Credit Facility | Alternate Base Rate Or Canadian Prime Rate, Plus An Applicable Margin | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		0.75%
2018 ABL Credit Facility | LIBOR Or Canadian CDOR Rate Plus An Applicable Margin | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
2018 ABL Credit Facility | LIBOR Or Canadian CDOR Rate Plus An Applicable Margin | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
2016 ABL Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 300,000,000
Weighted average interest rate					3.10%
Deferred financing cost expensed		700,000
Senior Notes
Debt Instrument [Line Items]
Deferred financing cost expensed	$ 57,800,000
Long-term debt, gross	$ 575,000,000
Redemption price, percentage	104.125%
Percentage of issue price of a private placement			100.00%
Interest rate, stated percentage			8.25%
Senior Notes | 2018 Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 450,000,000
Percentage of scheduled quarterly payments		0.25%
Period of closing date for initial term loan		7 years
Senior Notes | 2018 Term Loan Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
First lien net leverage ratio		4
Senior Notes | 2018 Term Loan Facility | LIBOR Applicable Margin Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		3.00%
Senior Notes | 2018 Term Loan Facility | LIBOR Applicable Margin Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Senior Notes | 2018 Term Loan Facility | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
Senior Notes | 2018 Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%
First lien net leverage ratio		4
Senior Notes | 2018 Term Loan Facility | Base Rate Applicable Margin Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Senior Notes | 2018 Term Loan Facility | Base Rate Applicable Margin Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Letter of Credit | 2018 Canadian Revolving Credit Subfacility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 5,000,000
Letter of Credit | 2018 ABL Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount		$ 10,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross				$ 153,500,000		146,000,000
Revolving asset-based credit facility				4,418,000		4,673,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Unamortized debt issuance costs				11,600,000		12,200,000
Notes Payable, Noncurrent | Line of Credit
Debt Instrument [Line Items]
Revolving asset-based credit facility				7,200,000		7,500,000
Other Long-term Assets | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving asset-based credit facility				$ 4,400,000		$ 4,700,000

Tax Receivable Agreement (Detai

Tax Receivable Agreement (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax receivable agreement, percentage of income taxes		90.00%
Liability for tax receivable agreement		$ 117,900		$ 134,600
Reduction in tax receivable agreement liability	$ 16,700	$ 16,667	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 366,349
Other comprehensive income (loss)	(1,926)	$ (1,208)
Ending balance	368,432
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(181)
Ending balance	(2,107)
Foreign Currency Translation (Losses) Gains
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,085)
Other comprehensive income (loss)	1,570
Ending balance	(1,515)
Unrealized Gain (Loss) on Derivatives, Net of Taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,904
Other comprehensive income (loss)	(3,496)
Ending balance	$ (592)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Derivative assets	$ 2,434	$ 4,344
Non-current liabilities
Derivative liability	(2,962)
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Derivative assets	0	0
Non-current liabilities
Derivative liability	0
Significant Other Observable Inputs (Level 2)
Assets
Derivative assets	2,434	4,344
Non-current liabilities
Derivative liability	(2,962)
Significant Unobservable Inputs (Level 3)
Assets
Derivative assets	0	$ 0
Non-current liabilities
Derivative liability	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 2,045	$ (1,398)
Statutory tax rate	29.80%	38.20%

Segments - Narrative (Details)

Segments - Narrative (Details) - segment	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting [Abstract]
Number of reportable segments	1
Sales Revenue, Net | Geographic Concentration Risk | United States
Segment Reporting Information [Line Items]
Concentration risk, percentage	90.60%	87.50%
Sales Revenue, Net | Geographic Concentration Risk | Canada
Segment Reporting Information [Line Items]
Concentration risk, percentage	9.40%	12.50%

Segments - Schedule of Geograph

Segments - Schedule of Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	$ 148,491	$ 151,641
Right-of-use assets, net	116,245	0
Goodwill	487,888	484,941
Intangibles, net	134,887	145,876
United States
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	133,901	137,252
Right-of-use assets, net	101,293	0
Goodwill	460,584	460,384
Intangibles, net	127,740	141,186
Canada
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	14,590	14,389
Right-of-use assets, net	14,952	0
Goodwill	27,304	24,557
Intangibles, net	$ 7,147	$ 4,690

Segments - Schedule of Net Sale

Segments - Schedule of Net Sales From External Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue from External Customer [Line Items]
Net sales	$ 514,872	$ 463,661
Percentage of net sales	100.00%	100.00%
Change in net sales	$ 51,211
Percentage change in net sales	11.00%
Wallboard
Revenue from External Customer [Line Items]
Net sales	$ 202,914	$ 180,653
Percentage of net sales	39.40%	39.00%
Change in net sales	$ 22,261
Percentage change in net sales	12.30%
Suspended ceiling systems
Revenue from External Customer [Line Items]
Net sales	$ 88,996	$ 86,179
Percentage of net sales	17.30%	18.60%
Change in net sales	$ 2,817
Percentage change in net sales	3.30%
Metal framing
Revenue from External Customer [Line Items]
Net sales	$ 99,251	$ 73,967
Percentage of net sales	19.30%	16.00%
Change in net sales	$ 25,284
Percentage change in net sales	34.20%
Complementary and other products
Revenue from External Customer [Line Items]
Net sales	$ 123,711	$ 122,862
Percentage of net sales	24.00%	26.40%
Change in net sales	$ 849
Percentage change in net sales	0.70%

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Accrued expenses	$ 4,914	$ 5,080
Accrued interest	390	1,315
Accrued other	13,545	13,584
Total other current liabilities	$ 18,849	$ 19,979

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Weighted average shares used in basic computations (in shares)	42,932,024	42,879,874
Dilutive effect of stock options and restricted stock units (in shares)	12,805	0
Weighted average shares used in diluted computations (in shares)	42,944,829	42,879,874
Antidilutive securities (in shares)	628,220	290,000

Subsequent Events (Details)

Subsequent Events (Details) - branch	May 01, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Number of branch locations		175
Canada | Subsequent Event
Subsequent Event [Line Items]
Number of branch locations	1