Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Builders FirstSource Inc., consolidated balance sheet: assets
US$ in thousands
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).
The financial data demonstrates significant growth and notable fluctuations in various asset categories over the observed five-year period.
- Cash and Cash Equivalents
- Cash levels peaked sharply in 2020, reaching 423,806 thousand US dollars, a substantial increase from previous years. However, this figure normalized in the subsequent years to 42,603 thousand in 2021 and then increased again to 80,445 thousand in 2022, signaling variability in liquidity management.
- Accounts Receivable, Less Allowances
- Receivables showed a strong upward trend, growing from 654,170 thousand in 2018 to a peak of 1,708,796 thousand in 2021, followed by a slight decline to 1,448,139 thousand in 2022. This pattern suggests an expansion in sales or credit extended to customers, with some receding in the most recent year.
- Other Receivables
- Other receivables have followed a similar upward trend, increasing steadily from 68,637 thousand in 2018 to 255,075 thousand in 2021, then marginally decreasing to 234,966 thousand in 2022.
- Inventories, Net
- Inventory levels more than doubled from 596,896 thousand in 2018 to 1,625,244 thousand in 2021, before decreasing slightly to 1,426,196 thousand in 2022. This reflects substantial inventory buildup, potentially in response to demand growth or supply chain considerations.
- Contract Assets
- Contract assets data starts from 2020, indicating 57,265 thousand, rising notably to 207,587 thousand in 2021 and slightly decreasing to 183,700 thousand in 2022. This suggests increasing recognition of revenue tied to ongoing contracts over recent years.
- Other Current Assets
- Other current assets increased steadily from 43,921 thousand in 2018 to 127,964 thousand in 2021 and slightly decreased to 124,201 thousand in 2022, indicating a moderate growth and stabilization in this asset category.
- Current Assets
- Total current assets more than doubled from 1,373,751 thousand in 2018 to 3,968,269 thousand in 2021, before decreasing to 3,497,647 thousand in 2022. The sharp increase through 2021 primarily reflects growth in receivables, inventories, and contract assets.
- Property, Plant and Equipment, Net
- Net property, plant and equipment experienced steady growth each year, rising from 670,075 thousand in 2018 to 1,567,631 thousand in 2022, indicating ongoing investment in physical assets.
- Operating Lease Right-of-Use Assets, Net
- This asset category emerged in 2019 with 292,684 thousand, decreased slightly in 2020, then rose strongly in 2021 and 2022 to 457,833 thousand and 485,704 thousand, respectively. This reflects lease obligations recognized over the period in accordance with accounting standards.
- Goodwill
- Goodwill remained relatively stable from 2018 to 2020, around 740,411 to 785,305 thousand, followed by a significant increase to 3,270,192 thousand in 2021 and a further rise to 3,456,854 thousand in 2022. This sharp increase suggests acquisition activities or revaluation effects affecting intangible assets.
- Intangible Assets, Net
- Intangible assets were relatively stable through 2020 but surged massively to 1,603,409 thousand in 2021 and slightly decreased to 1,550,944 thousand in 2022, paralleling the goodwill trend and reinforcing the impact of acquisitions or asset reclassifications.
- Deferred Income Taxes
- Deferred income tax assets decreased from 22,766 thousand in 2018 to negligible levels by 2020 and were not reported afterward, indicating possible utilization or reclassification.
- Other Assets, Net
- Other noncurrent assets showed moderate increases from 22,152 thousand in 2018 to 36,380 thousand in 2022, reflecting small but consistent growth.
- Noncurrent Assets
- Noncurrent assets more than tripled from 1,558,558 thousand in 2018 to 6,746,074 thousand in 2021 and further increased slightly to 7,097,513 thousand in 2022. This was driven largely by increases in goodwill, intangible assets, and property, plant and equipment.
- Total Assets
- Total assets showed a pronounced upward trajectory, rising from 2,932,309 thousand in 2018 to over 10,714,343 thousand in 2021, followed by a slight decrease to 10,595,160 thousand in 2022. The major increase corresponds chiefly to acquisitions and asset growth in both current and noncurrent categories.