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Revenue
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue

3. Revenue

The following table disaggregates our sales by product category:

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Lumber & lumber sheet goods

 

$

1,150,540

 

 

$

1,817,249

 

 

$

3,081,264

 

 

$

6,989,691

 

Manufactured products

 

 

1,197,925

 

 

 

1,500,957

 

 

 

3,592,335

 

 

 

4,532,987

 

Windows, doors & millwork

 

 

1,102,087

 

 

 

1,292,822

 

 

 

3,242,710

 

 

 

3,537,000

 

Specialty building products & services

 

 

1,083,712

 

 

 

1,150,435

 

 

 

3,030,159

 

 

 

3,309,175

 

Net sales

 

$

4,534,264

 

 

$

5,761,463

 

 

$

12,946,468

 

 

$

18,368,853

 

 

 

Net sales from installation and construction services were less than 10% of the Company’s net sales for each period presented.

The timing of revenue recognition, invoicing and cash collection results in accounts receivable, unbilled receivables, contract assets and contract liabilities. Contract assets include unbilled amounts when the revenue recognized exceeds the amount billed to the customer, and amounts representing a right to payment from previous performance that is conditional on something other than passage of time, such as retainage. Contract liabilities consist of customer advances and deposits, and deferred revenue.

Through September 30, 2023, and 2022, we recognized as revenue substantially all of the contract liabilities balances at December 31, 2022, and 2021, respectively.