<SEC-DOCUMENT>0001564590-19-045602.txt : 20200114
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<ACCEPTANCE-DATETIME>20191210105830
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001564590-19-045602
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20191210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Builders FirstSource, Inc.
		CENTRAL INDEX KEY:			0001316835
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-LUMBER & OTHER BUILDING MATERIALS DEALERS [5211]
		IRS NUMBER:				522084569
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2001 BRYAN STREET, SUITE 1600
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
		BUSINESS PHONE:		(214) 880-3500

	MAIL ADDRESS:	
		STREET 1:		2001 BRYAN STREET, SUITE 1600
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75201
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="gs5lzxqlkbtd000001.jpg" title="" alt="" style="width:160px;height:55px;"></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2001 Bryan Street Suite 1600<br />Dallas, Texas 75201<br />TEL &nbsp;&nbsp;214.880.3500<br />FAX  214.880.3599</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font>&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="font-weight:normal;">December 10, 2019</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">VIA EDGAR</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States Securities and Exchange Commission</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Division of Corporation Finance</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Office of Trade &amp; Services</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100 F Street, N.E.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Attn: Suying Li and Angela Lumley</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 10-K for Fiscal Year Ended December 31, 2018 </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed March 1, 2019</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 2.02 Form 8-K Filed October 31, 2019</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;File No. 000-51357</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dear Ms. Li and Ms. Lumley:</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are providing this letter in response to the comments of the staff of the Securities and Exchange Commission (the &#8220;Commission&#8221;), as set forth in your letter, dated December 2, 2019 (the &#8220;Comment Letter&#8221;) relating to the above referenced filings by Builders FirstSource, Inc. (the &#8220;Company&#8221;). The numbered paragraph below corresponds to the numbered paragraph in the Comment Letter.&nbsp;&nbsp;To facilitate your review, we have reproduced below the original text of the Staff&#8217;s comment, and have included the Company&#8217;s response immediately following such comment.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#auto;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Please note that we are filing this response letter via EDGAR submission.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Item 2.02 Form 8-K Filed October 31, 2019</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Exhibit 99.1</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11.5pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="margin-bottom:10pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11.5pt;">&nbsp;</p></td>
<td valign="top" style="width:3.85%;white-space:nowrap">
<p style="margin-bottom:10pt;margin-top:0pt;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
<td valign="top">
<p style="margin-bottom:10pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11.5pt;">You present free cash flow, a non-GAAP financial measure, for the three months and nine months ended September 30, 2019.&nbsp;&nbsp;Please provide the non-GAAP measure disclosures required by Item 10(e)(1)(i)(C) and (D) of Regulation S-K.&nbsp;&nbsp;Refer to Question 102.07 of the Division&#8217;s Non-GAAP Financial Measures Compliance and Disclosure Interpretations. </p></td></tr></table></div>
<p style="margin-bottom:10pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">BFS Response: </font><font style="font-weight:normal;">We will expand our disclosure in future filings, beginning with our 2019 annual filing, to include additional information on why management believes the presentation of free cash flow provides useful information to investors on our financial condition as follows:&nbsp;&nbsp;</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="margin-bottom:10pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Page 2</font></p>
<p style="margin-bottom:10pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-weight:bold;font-size:11.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Free Cash Flow</font></p>
<p style="margin-bottom:10pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We define free cash flow as GAAP net cash from operating activities net of purchases of property, plant and equipment. Our management uses free cash flow as a supplemental measure in the evaluation of our business as we believe it provides a meaningful evaluation of our liquidity. Free cash flow is not a financial measure calculated in accordance with GAAP. Accordingly, it should not be considered in isolation or as a substitute for net cash flow from operations or other financial measures prepared in accordance with GAAP.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Should you have any questions or want to discuss these matters further, please feel free to contact me at 214-231-8190.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Yours truly,</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ PETER M. JACKSON</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Peter M. Jackson</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Senior Vice President and Chief Financial Officer</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Builders FirstSource</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p></body>
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</SEC-DOCUMENT>
