Name: Builders FirstSource Inc. (NYSE:BLDR) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Builders FirstSource Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	80,445)	42,603)	423,806)	14,096)	10,127)
Accounts receivable, less allowances	1,448,139)	1,708,796)	822,753)	614,946)	654,170)
Other receivables	234,966)	255,075)	76,436)	77,447)	68,637)
Inventories, net	1,426,196)	1,626,244)	784,527)	561,255)	596,896)
Contract assets	183,700)	207,587)	57,265)	—)	—)
Other current assets	124,201)	127,964)	58,895)	39,123)	43,921)
Current assets	3,497,647)	3,968,269)	2,223,682)	1,306,867)	1,373,751)
Property, plant and equipment, net	1,567,631)	1,385,441)	749,130)	721,887)	670,075)
Operating lease right-of-use assets, net	485,704)	457,833)	274,562)	292,684)	—)
Goodwill	3,456,854)	3,270,192)	785,305)	769,022)	740,411)
Intangible assets, net	1,550,944)	1,603,409)	119,882)	128,388)	103,154)
Deferred income taxes	—)	—)	4,653)	8,417)	22,766)
Other assets, net	36,380)	29,199)	16,457)	22,225)	22,152)
Noncurrent assets	7,097,513)	6,746,074)	1,949,989)	1,942,623)	1,558,558)
Total assets	10,595,160)	10,714,343)	4,173,671)	3,249,490)	2,932,309)

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).

Total assets experienced substantial growth between 2018 and 2022, increasing from 2.93 billion US dollars to 10.60 billion US dollars. This expansion was characterized by a moderate upward trajectory from 2018 to 2020, followed by a significant inflection point in 2021, where total assets more than doubled. By the end of 2022, the asset base remained relatively stable, showing a slight contraction from the 2021 peak.

Current Asset Dynamics: Current assets grew from 1.37 billion US dollars in 2018 to 3.50 billion US dollars in 2022. A notable surge occurred in 2021, reaching 3.97 billion US dollars. This growth was primarily driven by accounts receivable and inventories, both of which peaked in 2021. Accounts receivable increased from 654 million US dollars in 2018 to a peak of 1.71 billion US dollars in 2021, before moderating to 1.45 billion US dollars in 2022. Similarly, inventories rose from 597 million US dollars in 2018 to 1.63 billion US dollars in 2021. Cash positions remained volatile, peaking sharply in 2020 at 423.8 million US dollars before returning to lower levels in subsequent years.
Noncurrent Asset Expansion: The most dramatic growth is observed in noncurrent assets, which rose from 1.56 billion US dollars in 2018 to 7.10 billion US dollars in 2022. The expansion was heavily concentrated in 2021, specifically within intangible assets and goodwill. Goodwill increased from 785 million US dollars in 2020 to 3.27 billion US dollars in 2021, continuing to 3.46 billion US dollars in 2022. Intangible assets saw an even more pronounced shift, jumping from 120 million US dollars in 2020 to 1.60 billion US dollars in 2021. Property, plant, and equipment also showed a steady upward trend, increasing from 670 million US dollars in 2018 to 1.57 billion US dollars in 2022.
Asset Composition and Structural Shifts: The structural composition of the balance sheet shifted significantly toward noncurrent assets over the five-year period. In 2018, current assets represented approximately 47% of total assets; by 2022, this proportion decreased to approximately 33%. The rapid accumulation of goodwill and intangible assets starting in 2021 indicates a strategic pivot toward inorganic growth, such as acquisitions, which fundamentally altered the company's asset profile. This is further supported by the emergence of contract assets in 2020 and their subsequent growth through 2022.

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