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Builders FirstSource Inc. (NYSE:BLDR)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Builders FirstSource Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Checks outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.42 0.60 1.00
Accounts payable 9.61 9.89 8.96 7.58 9.43 10.47 12.97 10.20 9.29 12.41 11.98 14.38 16.22 14.73 15.49 13.44 15.14 15.90 14.73 14.43 15.27 16.93 15.70
Accrued liabilities 6.63 5.59 5.66 6.97 7.37 7.49 6.41 6.71 8.61 7.83 6.71 9.24 8.52 7.78 6.27 9.51 8.79 7.94 5.91 9.98 8.01 7.54 6.04
Contract liabilities 1.68 1.77 1.85 1.82 2.17 2.14 2.07 2.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current portion of operating lease liabilities 0.91 0.93 0.96 0.95 0.88 0.80 0.79 0.90 0.88 0.86 1.01 1.48 1.54 1.64 1.73 1.90 1.83 1.86 1.88 0.00 0.00 0.00 0.00
Current maturities of long-term debt 0.04 0.04 0.04 0.06 0.03 0.02 0.02 0.03 0.04 0.11 0.15 0.65 0.74 0.64 0.63 0.43 0.44 0.39 0.53 0.53 0.46 0.42 0.40
Current liabilities 18.88% 18.22% 17.49% 17.39% 19.88% 20.92% 22.26% 19.87% 18.81% 21.20% 19.84% 25.75% 27.02% 24.79% 24.12% 25.27% 26.19% 26.10% 23.06% 24.94% 24.17% 25.48% 23.13%
Noncurrent portion of operating lease liabilities 3.88 3.81 3.85 3.82 3.60 3.33 3.04 3.50 3.33 3.27 3.80 5.25 5.53 6.13 6.47 7.29 7.05 6.71 6.68 0.00 0.00 0.00 0.00
Long-term debt, net of current maturities, discounts and issuance costs 31.62 34.20 30.49 28.11 27.47 29.39 28.14 27.31 22.39 19.23 17.68 38.26 39.21 41.91 43.39 39.31 40.95 43.71 48.82 52.71 57.21 58.81 62.01
Deferred income taxes 1.83 2.16 2.37 2.55 2.64 2.81 2.94 3.38 3.06 3.41 4.16 1.19 0.93 1.01 1.05 1.13 0.57 0.18 0.00 0.00 0.00 0.00 0.00
Other long-term liabilities 1.12 1.15 1.35 1.30 1.13 1.05 0.99 1.12 1.31 1.29 1.38 1.93 2.21 1.83 1.57 1.61 1.61 1.64 1.66 2.01 1.77 1.82 1.96
Long-term liabilities 38.46% 41.32% 38.06% 35.77% 34.84% 36.58% 35.12% 35.31% 30.09% 27.21% 27.02% 46.63% 47.88% 50.88% 52.47% 49.34% 50.19% 52.23% 57.17% 54.73% 58.98% 60.63% 63.97%
Total liabilities 57.34% 59.55% 55.55% 53.16% 54.72% 57.50% 57.38% 55.18% 48.90% 48.41% 46.86% 72.38% 74.90% 75.67% 76.59% 74.61% 76.38% 78.33% 80.23% 79.66% 83.14% 86.11% 87.11%
Preferred stock, $0.01 par value; zero shares issued and outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.03 0.04
Additional paid-in capital 39.69 39.59 40.53 40.19 36.86 35.12 35.19 39.77 39.36 39.98 45.28 14.12 14.55 15.36 16.14 17.69 17.30 17.41 17.52 19.11 17.35 16.57 17.58
Accumulated other comprehensive income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained earnings (accumulated deficit) 2.96 0.85 3.91 6.64 8.41 7.37 7.42 5.04 11.72 11.60 7.84 13.47 10.52 8.94 7.23 7.66 6.29 4.22 2.21 1.19 -0.53 -2.72 -4.73
Stockholders’ equity 42.66% 40.45% 44.45% 46.84% 45.28% 42.50% 42.62% 44.82% 51.10% 51.59% 53.14% 27.62% 25.10% 24.33% 23.41% 25.39% 23.62% 21.67% 19.77% 20.34% 16.86% 13.89% 12.89%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The capital structure of the organization underwent a significant transformation between March 2018 and September 2023, transitioning from a highly leveraged position to one with a substantially higher proportion of equity, followed by a moderate period of re-leveraging.

Liability Trends and Debt Management
Total liabilities represented a dominant portion of the balance sheet in early 2018 at 87.11%, remaining above 70% through December 2020. A sharp inflection point occurred in March 2021, where total liabilities dropped precipitously to 46.86%. Following this decline, liabilities trended upward again, reaching 57.34% by September 2023.
Long-term debt served as the primary driver of this volatility. This component decreased from a peak of 62.01% in March 2018 to a low of 17.68% in March 2021. However, from mid-2021 onward, long-term debt began to increase steadily, climbing back to 31.62% by the end of the period.
Current liabilities exhibited a general downward trend in their relative weight. Current liabilities as a percentage of total funding fell from a range of 23% to 27% between 2018 and 2020 to a lower range of 17% to 22% between 2021 and 2023. This was supported by a reduction in accounts payable, which declined from 15.70% in March 2018 to 9.61% in September 2023.
Equity and Capitalization
Stockholders' equity grew consistently from 12.89% in March 2018 to 27.62% by December 2020. A substantial increase was observed in March 2021, where equity spiked to 53.14%, mirroring the sharp drop in total liabilities. This shift suggests a significant recapitalization event. Equity levels subsequently stabilized, ending the period at 42.66%.
Additional paid-in capital was the primary catalyst for the equity surge. This item rose from 14.12% in December 2020 to 45.28% in March 2021, indicating a major infusion of capital through share issuance. This figure remained relatively stable between 35% and 40% throughout 2022 and 2023.
Retained earnings showed a recovery from a deficit of -4.73% in March 2018 to a peak of 13.47% in December 2020. Although this figure fluctuated in later years, it remained positive throughout the period from December 2018 onward, ending at 2.96% in September 2023.
Other Balance Sheet Components
Operating lease liabilities were integrated into the reporting starting in March 2019. The noncurrent portion peaked at 7.29% in December 2019 before stabilizing between 3% and 4% for the remainder of the observed period.
Contract liabilities appeared in the data starting in December 2021, maintaining a small but consistent presence between 1.68% and 2.17% of the total balance sheet.
Deferred income taxes showed a gradual increase in relative importance, rising from negligible levels in 2018 to a peak of 4.16% in March 2021, before trending down to 1.83% by September 2023.

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