Business Combinations and Dispositions (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Calculation of Consideration Transferred

The calculation of consideration transferred is as follows (in thousands, except ratios and per share amounts):


Number of BMC common shares outstanding		67,568
Exchange ratio for common shares outstanding per Merger Agreement		1.3125
Shares of BFS common stock issued for BMC outstanding common stock		88,683
Number of BMC stock awards that vested as a result of the BMC Merger		688
Exchange ratio for stock awards expected to vest per Merger Agreement		1.3125
Shares of BFS common stock issued for BMC vested restricted stock awards		903
Price per share of BFS common stock	$	40.81
Fair value of BFS common stock issued for BMC outstanding common stock and vested equity awards	$	3,655,988
Fair value of modified BMC fully vested, unexercised options		2,374
Total consideration transferred	$	3,658,362

Summary of Aggregate Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the aggregate fair values of the assets acquired and liabilities assumed for the BMC Merger and other acquisitions (in thousands):

	BMC Merger		All Other Acquisitions		Total
Cash and cash equivalents	$	167,490	$	-	$	167,490
Accounts receivable		469,204		8,815		478,019
Other receivables		36,704		83		36,787
Inventories		460,146		7,308		467,454
Other current assets		32,891		56		32,947
Property, plant and equipment		555,170		831		556,001
Operating lease right-of-use assets		179,133		2,448		181,581
Goodwill		1,751,604		8,374		1,759,978
Intangible assets		1,470,000		2,550		1,472,550
Other assets		6,244		-		6,244
Total assets	$	5,128,586	$	30,465	$	5,159,051

Accounts payable	$	279,980	$	1,673	$	281,653
Accrued liabilities		246,119		1,469		247,588
Operating lease liabilities		180,650		2,448		183,098
Long-term debt		366,797		42		366,839
Deferred income taxes		349,971		-		349,971
Other long-term liabilities		46,707		-		46,707
Total liabilities	$	1,470,224	$	5,632	$	1,475,856

Total consideration transferred	$	3,658,362	$	24,833	$	3,683,195

Pro Forma Operating Results

The following table reflects the pro forma operating results for the Company which gives effect to the BMC Merger as if it had occurred on January 1, 2020 (in thousands).

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net sales	$	5,576,682	$	2,925,539	$	9,750,457	$	5,633,439
Net income (loss)		526,169		70,147		761,608		(16,514	)