Business Combinations and Dispositions (Tables)

9 Months Ended

Sep. 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	$	34,727	$	202,217
Accounts receivable		469,204		94,316		563,520
Other receivables		36,704		2,895		39,599
Inventories		460,146		67,978		528,124
Other current assets		32,891		3,099		35,990
Property, plant and equipment		555,170		33,120		588,290
Operating lease right-of-use assets		179,133		21,277		200,410
Goodwill		1,751,604		614,609		2,366,213
Intangible assets		1,470,000		301,550		1,771,550
Other assets		6,244		619		6,863
Total assets	$	5,128,586	$	1,174,190	$	6,302,776

Accounts payable	$	279,980	$	14,726	$	294,706
Accrued liabilities		246,119		35,401		281,520
Operating lease liabilities		180,650		21,277		201,927
Long-term debt		366,797		42		366,839
Deferred income taxes		349,971		1,881		351,852
Other long-term liabilities		46,707		535		47,242
Total liabilities	$	1,470,224	$	73,862	$	1,544,086

Total consideration transferred	$	3,658,362	$	1,100,328	$	4,758,690

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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net sales	$	5,508,590	$	3,385,793	$	15,259,047	$	9,019,232
Net income		642,048		76,810		1,401,823		63,613