Name: Builders FirstSource Inc. (NYSE:BLDR) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Builders FirstSource Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Accounts payable	803,479)	1,093,370)	600,357)	436,823)	423,168)
Accrued payroll and other employee related expenses	400,711)	385,800)	176,379)	152,869)	145,313)
Self-insurance reserves	79,252)	68,060)	38,642)	37,955)	35,304)
Accrued business taxes	77,438)	81,055)	58,953)	32,604)	28,954)
Accrued rebates payable	51,714)	51,805)	18,592)	11,612)	11,762)
Amounts accrued for repurchases of common stock	44,447)	51,545)	—)	—)	—)
Accrued interest	34,327)	31,666)	13,567)	12,256)	13,164)
Other	51,120)	48,973)	20,948)	23,095)	15,975)
Accrued liabilities	739,009)	718,904)	327,081)	270,391)	250,472)
Contract liabilities	193,178)	216,097)	58,455)	38,559)	42,054)
Current portion of operating lease liabilities	100,758)	96,680)	61,625)	61,653)	—)
Current maturities of long-term debt	6,355)	3,660)	27,335)	13,875)	15,565)
Current liabilities	1,842,779)	2,128,711)	1,074,853)	821,301)	731,259)
Noncurrent portion of operating lease liabilities	404,463)	375,289)	219,239)	236,948)	—)
Long-term debt, net of current maturities, discounts and issuance costs	2,977,842)	2,926,122)	1,596,905)	1,277,398)	1,545,729)
Deferred income taxes	269,660)	362,121)	49,495)	36,645)	—)
Other long-term liabilities	137,850)	119,619)	80,396)	52,245)	58,983)
Long-term liabilities	3,789,815)	3,783,151)	1,946,035)	1,603,236)	1,604,712)
Total liabilities	5,632,594)	5,911,862)	3,020,888)	2,424,537)	2,335,971)
Preferred stock, $0.01 par value; zero shares issued and outstanding	—)	—)	—)	—)	—)
Common stock, $0.01 par value	1,389)	1,798)	1,168)	1,161)	1,151)
Additional paid-in capital	4,257,667)	4,260,670)	589,241)	574,955)	560,221)
Accumulated other comprehensive income	—)	—)	—)	—)	—)
Retained earnings	703,510)	540,013)	562,374)	248,837)	34,966)
Stockholders’ equity	4,962,566)	4,802,481)	1,152,783)	824,953)	596,338)
Total liabilities and stockholders’ equity	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).

The financial position from 2018 to 2022 is characterized by a massive expansion of the balance sheet, with total liabilities and stockholders' equity increasing from 2.93 billion to 10.60 billion. A significant structural shift in the capital base occurred between 2020 and 2021, marked by a simultaneous surge in both long-term debt and equity contributions.

Current Liabilities Trends: Current liabilities experienced a sharp increase, peaking in 2021 at 2.13 billion before declining to 1.84 billion in 2022. This volatility was primarily driven by accounts payable, which rose from 423 million in 2018 to a peak of 1.09 billion in 2021. Accrued liabilities demonstrated a more consistent upward trajectory, growing from 250 million in 2018 to 739 million in 2022, largely supported by increases in accrued payroll and employee-related expenses.
Long-term Debt and Obligations: Long-term debt, net of current maturities, nearly doubled over the five-year period, rising from 1.55 billion in 2018 to 2.98 billion in 2022. The most significant jump occurred between 2020 and 2021, where debt increased by approximately 1.33 billion. Additionally, noncurrent operating lease liabilities grew steadily, increasing from 237 million in 2019 to 404 million in 2022, indicating an expansion of leased operational assets.
Stockholders' Equity and Capitalization: Stockholders' equity grew exponentially from 596 million in 2018 to 4.96 billion in 2022. The most notable increase occurred in 2021, where equity rose from 1.15 billion to 4.80 billion. This was driven predominantly by a surge in additional paid-in capital, which jumped from 589 million in 2020 to 4.26 billion in 2021, suggesting a major equity issuance or capital infusion. Retained earnings also showed a strong positive trend, growing from 35 million in 2018 to 704 million in 2022, reflecting accumulated profitability.
Liability and Equity Composition: The ratio of debt to equity shifted significantly. In 2018, total liabilities were nearly four times the size of stockholders' equity. By 2022, the relationship normalized, with total liabilities (5.63 billion) and stockholders' equity (4.96 billion) reaching a more balanced state. This indicates a strategic move toward a less leveraged capital structure despite the absolute increase in total debt.

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