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Revenue
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue

3. Revenue

The following table disaggregates our net sales by product category:

 

 

 

Three Months Ended
March 31,

 

 

 

 

2025

 

 

2024

 

 

 

 

(in thousands)

Manufactured products

 

$

846,295

 

 

$

979,173

 

 

Windows, doors and millwork

 

 

922,783

 

 

 

1,030,403

 

 

Specialty building products and services

 

 

914,038

 

 

 

902,739

 

 

Lumber and lumber sheet goods

 

 

974,380

 

 

 

979,037

 

 

Net sales

 

$

3,657,496

 

 

$

3,891,352

 

 

 

 

As our product alignment continues to be refined, we have reclassified prior periods net sales by product category to conform to current period presentation. The impact to each of the prior periods’ net sales for each product category was less than 1% for the three months ended March 31, 2024.

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 March 31, 2025, and 2024, we recognized as revenue approximately 70% and 75% of the contract liabilities balances outstanding as of December 31, 2024, and 2023, respectively.