XML 42 R27.htm IDEA: XBRL DOCUMENT v3.25.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Significant Accounting Policies [Line Items]  
Schedule of Net Sales by Product Category

The following table disaggregates our net sales by product category for the years ended December 31:

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Manufactured products

 

$

3,931,647

 

 

$

4,669,088

 

 

$

5,678,570

 

Windows, doors and millwork

 

 

4,226,871

 

 

 

4,310,061

 

 

 

4,651,250

 

Specialty building products and services

 

 

4,050,027

 

 

 

3,992,132

 

 

 

4,311,123

 

Lumber and lumber sheet goods

 

 

4,191,947

 

 

 

4,126,049

 

 

 

8,085,475

 

Total net sales

 

$

16,400,492

 

 

$

17,097,330

 

 

$

22,726,418

 

As our product alignment continues to be refined, we have reclassified prior periods net sales by product category to conform to the current period presentation. The impact to each of the prior periods’ net sales for each product category was less than 1% for 2023 and 2022.

Reconciliation of Accounts Receivable - Classified

The following table shows the changes in our allowance for credit losses:

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Balance at January 1,

 

$

27,691

 

 

$

50,383

 

 

$

21,761

 

Net additions (reversals) to provision

 

 

10,419

 

 

 

(11,488

)

 

 

38,921

 

Write-offs, net of recoveries

 

 

(11,276

)

 

 

(11,204

)

 

 

(10,299

)

Balance at December 31,

 

$

26,834

 

 

$

27,691

 

 

$

50,383

 

 

Summary of Calculation of Basic And Diluted EPS

The table below presents the calculation of basic and diluted EPS for the years ended December 31:

 

 

Years Ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

(in thousands, except per share amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,077,898

 

 

$

1,540,555

 

 

$

2,749,369

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, basic

 

 

118,038

 

 

 

127,777

 

 

 

161,960

 

Dilutive effect of options and RSUs

 

 

942

 

 

 

1,221

 

 

 

1,521

 

Weighted average shares outstanding, diluted

 

 

118,980

 

 

 

128,998

 

 

 

163,481

 

 

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

9.13

 

 

$

12.06

 

 

$

16.98

 

Diluted

 

$

9.06

 

 

$

11.94

 

 

$

16.82

 

 

 

 

 

 

 

 

 

 

 

Antidilutive and contingent RSUs excluded from diluted EPS

 

 

147

 

 

 

3

 

 

 

99

 

Market Condition Based Restricted Stock Unit Grants  
Significant Accounting Policies [Line Items]  
Schedule of Share-based Payment Award, Restricted Stock Unit, Valuation Assumptions

The fair value of RSU awards which are subject to or contain market conditions is estimated on the date of grant using the Monte Carlo simulation model with the following weighted average assumptions for the years ended December 31:

 

 

 

2024

 

 

2023

 

 

2022

 

Expected volatility (company)

 

 

43.8

%

 

 

46.5

%

 

 

53.0

%

Expected volatility (peer group median)

 

 

30.5

%

 

 

32.1

%

 

 

34.6

%

Correlation between the company and peer group median

 

 

0.5

 

 

 

0.5

 

 

 

0.6

 

Expected dividend yield

 

 

0.0

%

 

 

0.0

%

 

 

0.0

%

Risk-free rate

 

 

4.5

%

 

 

3.8

%

 

 

1.7

%