Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Summary of Impact of Adopting Topic 606 on Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income

The following table summarizes the impact of the new revenue standard on the Consolidated Balance Sheets as of December 31, 2018, including the cumulative effect of applying the new standard to all contracts upon adoption (in thousands):


	Impact of Change in Accounting Policy
	As reported		Adjustments			Without adoption
Inventories	$	61,162	$	5,801		$	66,963
Other current assets		35,760		(8,607	)		27,153
Total assets		834,658		(2,806	)		831,852
Deferred income taxes		6,695		(534	)		6,161
Retained earnings		105,212		(2,272	)		102,940
Total liabilities and stockholders’ equity		834,658		(2,806	)		831,852

The following table summarizes the impact of the new revenue standard on the Consolidated Statements of Operations and Comprehensive Income (in thousands):


	Year Ended December 31, 2018
	As reported		Adjustments			Without adoption
Net revenue	$	1,336,432	$	(751	)	$	1,335,681
Cost of sales		964,841		(578	)		964,263

Income before income taxes	$	72,186	$	(173	)	$	72,013
Income tax provision		17,438		(43	)		17,395

Net income	$	54,748	$	(130	)	$	54,618

Summary of Revenues Disaggregated by End Market and Product

The following tables present our revenues disaggregated by end market and product (in thousands):


	Year ended December 31, 2018
Residential new construction	$	1,026,473	77	%
Repair and remodel		89,977	7	%
Commercial		219,982	16	%

Net revenues	$	1,336,432	100	%


	Year ended December 31, 2018
Insulation	$	876,118	66	%
Waterproofing		97,683	7	%
Shower doors, shelving and mirrors		90,352	7	%
Garage doors		79,539	6	%
Rain gutters		44,203	3	%
Blinds		28,981	2	%
Other building products		119,556	9	%

Net revenues	$	1,336,432	100	%

Summary of Assets and Liabilities Related to Uncompleted Contracts and Customer Deposits

Contract assets and liabilities related to our uncompleted contracts and customer deposits were as follows (in thousands):


	As of December 31,
	2018			2017
Contract assets	$	15,092		$	14,476
Contract liabilities		(7,468	)		(7,519	)

Schedule of Cost and Estimated Earnings on Uncompleted Contracts

Uncompleted contracts were as follows (in thousands):


	As of December 31,
	2018		2017
Costs incurred on uncompleted contracts	$	114,826	$	84,563
Estimated earnings		58,952		47,000

Total		173,778		131,563
Less: Billings to date		163,112		122,144

Net under (over) billings	$	10,666	$	9,419

Schedule of Net Under (Over) Billings

Net under (over) billings were as follows (in thousands):


	As of December 31,
	2018			2017
Costs and estimated earnings in excess of billings on uncompleted contracts (contract assets)	$	15,092		$	14,476
Billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities)		(4,426	)		(5,057	)

Net under (over) billings	$	10,666		$	9,419