NOTE 1 – ORGANIZATION

Installed Building Products, Inc. (“IBP”), a Delaware corporation formed on October 28, 2011, and its wholly-owned subsidiaries (collectively referred to as the “Company” and “we,” “us” and “our”) primarily install insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company operates in over 125 locations and its corporate office is located in Columbus, Ohio.

We have one operating segment and a single reportable segment. We offer our portfolio of services for new and existing single-family and multi-family residential and commercial building projects from our national network of branch locations. Commercial sales have increased primarily due to the acquisition of Trilok Industries, Inc., Alpha Insulation and Waterproofing Inc. and Alpha Insulation and Waterproofing Company (collectively, “Alpha”).

Each of our branches has the capacity to serve all of our end markets. For the years ended December 31, 2017, 2016 and 2015, residential new construction and repair and remodel was 83%, 88% and 89% of our net revenue and commercial construction was 17%, 12% and 11% of our net revenue, respectively. The following table sets forth the percentage of our net revenue by product category:


	Years ended December 31,
	2017			2016			2015
Insulation		67	%		77	%		78	%
Waterproofing		8			2			2
Shower doors, shelving and mirrors		7			5			5
Garage doors		5			6			6
Rain gutters		4			4			5
Other building products		9			6			4

		100	%		100	%		100	%