Analysis of Debt

Total Debt (Carrying Amount)
Total Debt (Fair Value)
Weighted-average Interest Rate on Debt

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Total Debt (Carrying Amount)

Builders FirstSource Inc., balance sheet: debt

US$ in thousands

		Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
	Current maturities of long-term debt
	Long-term debt, net of current maturities, discounts and issuance costs
	Total long-term debt, including current maturities (carrying amount)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Current maturities of long-term debt: From 2018 to 2019, there was a slight decrease in current maturities, falling from 15,565 thousand USD to 13,875 thousand USD. However, in 2020, this figure almost doubled to 27,335 thousand USD. The following year showed a significant reduction to 3,660 thousand USD, before increasing again to 6,355 thousand USD in 2022. The data suggests volatility in the short-term portion of debt requiring repayment, with notable fluctuations especially between 2020 and 2021.
Long-term debt, net of current maturities, discounts and issuance costs: This category reflects a substantial shift over the analyzed period. Initial long-term debt stood at 1,545,729 thousand USD in 2018 and decreased to 1,277,398 thousand USD in 2019. Contrary to the decline, there was a marked increase to 1,596,905 thousand USD in 2020. A considerable surge occurred in 2021, with long-term debt more than doubling to 2,926,122 thousand USD, then slightly increasing again in 2022 to 2,977,842 thousand USD. This upward trend indicates significant financing activity or debt restructuring enhancing long-term obligations during the final years of the period.
Total long-term debt, including current maturities (carrying amount): Total long-term debt closely parallels the trends observed in the individual components. After a decrease from 1,561,294 thousand USD in 2018 to 1,291,273 thousand USD in 2019, an increase to 1,624,240 thousand USD is seen in 2020. Notably, from 2020 to 2021, total long-term debt nearly doubled to 2,929,782 thousand USD and increased moderately to 2,984,197 thousand USD by 2022. This pattern confirms an overall escalation of long-term liabilities starting 2020, suggesting expanded leverage or capital raising initiatives in those years.
Overall analysis: The data reveals a general upward trend in long-term indebtedness from 2020 onwards, reversing the decline noted between 2018 and 2019. The sharp increases in 2021 and 2022 highlight significant changes in the company's debt structure, possibly reflecting strategic financing decisions or growth-related funding needs. The more variable current maturities of long-term debt point to fluctuating short-term debt repayment obligations, with an outstanding peak in 2020 followed by a reduction and a slight rebound. Together, these movements suggest increased leverage and evolving debt management strategies over the analyzed timeframe.

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Total Debt (Fair Value)

	Dec 31, 2022
Selected Financial Data (US$ in thousands)
Revolving credit facility
4.25% 2032 notes
6.375% 2032 notes
2030 notes
2027 notes
2024 notes
2024 term loan
Other finance obligations
Finance lease obligations
Total long-term debt, including current maturities (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2022-12-31).

Weighted-average Interest Rate on Debt

Weighted-average interest rate on long-term debt:

Interest rate	Debt amount¹	Interest rate × Debt amount	Weighted-average interest rate²





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