v3.3.0.814
Segment and Product Information
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment and Product Information

7. Segment and Product Information

We offer an integrated solution to our customers providing manufacturing, supply, and installation of a full range of structural and related building products.  We provide a wide variety of building products and services directly to homebuilder customers. We manufacture floor trusses, roof trusses, wall panels, stairs, millwork, windows, and doors. We also provide a full range of construction services. These product and service offerings are distributed across approximately 450 locations operating in 40 states across the United States, which have been reorganized into nine geographical regions following the ProBuild acquisition.  Centralized financial and operational oversight, including resource allocation and assessment of performance on an income (loss) from continuing operations before income taxes basis, is performed by our CEO, whom we have determined to be our chief operating decision maker (“CODM”).

As a result of the reorganization following the ProBuild acquisition on July 31, 2015, the Company has nine operating segments aligned with its nine geographical regions (Regions 1 through 9). While all of our operating segments have similar nature of products, distribution methods and customers, certain of our operating segments have been aggregated due to also containing similar economic characteristics, resulting in the following composition of reportable segments:

 

·

Regions 1 and 2 have been aggregated to form the “Northeast” reportable segment

 

·

Regions 3 and 5 have been aggregated to form the “Southeast” reportable segment  

 

·

Regions 4 and 6 have been aggregated to form the “South” reportable segment

 

·

Region 7, 8 and 9 have been aggregated to form the “West” reportable segment.  The West reportable segment operations were acquired in their entirety from the ProBuild acquisition.

In addition to our reportable segments, our consolidated results include corporate overhead, other various operating activities that are not internally allocated to a geographical region nor separately reported to the CODM, and certain reconciling items primarily related to allocations of corporate overhead and rent expense, which have collectively been presented as “All Other”.  The accounting policies of the segments are consistent with those described in Note 1, except for noted reconciling items.  

The following tables present Net sales, Income (loss) from continuing operations before income taxes and certain other measures for the reportable segments, reconciled to consolidated total continuing operations, for the periods indicated (in thousands):

 

 

 

Three months ended June 30, 2015

 

Reportable segments

 

Net Sales

 

 

Depreciation &

Amortization

 

 

Interest

 

 

Income (loss) from continuing operations before income taxes

 

Northeast

 

$

68,424

 

 

$

284

 

 

$

857

 

 

$

4,288

 

Southeast

 

 

193,525

 

 

 

800

 

 

 

3,255

 

 

 

5,061

 

South

 

 

169,231

 

 

 

1,641

 

 

 

3,779

 

 

 

2,604

 

West

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total reportable segments

 

 

431,180

 

 

 

2,725

 

 

 

7,891

 

 

 

11,953

 

All other

 

 

30,341

 

 

 

905

 

 

 

4,682

 

 

 

(8,586

)

Total consolidated

 

$

461,521

 

 

$

3,630

 

 

$

12,573

 

 

$

3,367

 

 

 

 

Six months ended June 30, 2015

 

Reportable segments

 

Net Sales

 

 

Depreciation & Amortization

 

 

Interest

 

 

Income (loss) from continuing operations before income taxes

 

Northeast

 

$

111,909

 

 

$

527

 

 

$

1,709

 

 

$

3,637

 

Southeast

 

 

341,002

 

 

 

1,499

 

 

 

6,247

 

 

 

3,334

 

South

 

 

322,287

 

 

 

3,102

 

 

 

7,471

 

 

 

2,946

 

West

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total reportable segments

 

 

775,198

 

 

 

5,128

 

 

 

15,427

 

 

 

9,917

 

All other

 

 

57,309

 

 

 

1,654

 

 

 

4,753

 

 

 

(13,516

)

Total consolidated

 

$

832,507

 

 

$

6,782

 

 

$

20,180

 

 

$

(3,599

)

 

 

 

Three months ended June 30, 2014

 

Reportable segments

 

Net Sales

 

 

Depreciation & Amortization

 

 

Interest

 

 

Income (loss) from continuing operations before income taxes

 

Northeast

 

$

66,445

 

 

$

279

 

 

$

967

 

 

$

1,962

 

Southeast

 

 

184,247

 

 

 

701

 

 

 

3,109

 

 

 

3,499

 

South

 

 

144,766

 

 

 

426

 

 

 

3,205

 

 

 

2,482

 

West

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total reportable segments

 

 

395,458

 

 

 

1,406

 

 

 

7,281

 

 

 

7,943

 

All other

 

 

31,085

 

 

 

634

 

 

 

(777

)

 

 

2,907

 

Total consolidated

 

$

426,543

 

 

$

2,040

 

 

$

6,504

 

 

$

10,850

 

 

 

 

Six months ended June 30, 2014

 

Reportable segments

 

Net Sales

 

 

Depreciation & Amortization

 

 

Interest

 

 

Income (loss) from continuing operations before income taxes

 

Northeast

 

$

115,843

 

 

$

563

 

 

$

1,864

 

 

$

1,121

 

Southeast

 

 

327,652

 

 

 

1,407

 

 

 

5,893

 

 

 

982

 

South

 

 

269,328

 

 

 

861

 

 

 

6,207

 

 

 

1,841

 

West

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total reportable segments

 

 

712,823

 

 

 

2,831

 

 

 

13,964

 

 

 

3,944

 

All other

 

 

59,629

 

 

 

1,191

 

 

 

1,368

 

 

 

3,512

 

Total consolidated

 

$

772,452

 

 

$

4,022

 

 

$

15,332

 

 

$

7,456

 

 

Asset information by segment is not reported internally or otherwise reviewed by the CODM nor does the company earn revenues or have long-lived assets located in foreign countries. The Company’s net sales by product category for the years indicated were as follows (in thousands):

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Lumber & lumber sheet goods

 

$

152,991

 

 

$

155,659

 

 

$

275,418

 

 

$

280,286

 

Windows, doors & millwork

 

 

145,073

 

 

 

127,998

 

 

 

266,670

 

 

 

235,495

 

Manufactured products

 

 

103,512

 

 

 

91,694

 

 

 

183,317

 

 

 

162,447

 

Gypsum, roofing & insulation

 

 

13,218

 

 

 

12,396

 

 

 

23,773

 

 

 

22,328

 

Siding, metal & concrete products

 

 

12,338

 

 

 

10,491

 

 

 

22,138

 

 

 

19,188

 

Other building products & services

 

 

34,389

 

 

 

28,305

 

 

 

61,191

 

 

 

52,708

 

Net sales

 

$

461,521

 

 

$

426,543

 

 

$

832,507

 

 

$

772,452