XML 163 R45.htm IDEA: XBRL DOCUMENT v2.4.0.8
Level 4 Segment Information (Details) (USD $)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Jun. 30, 2013
Integer
Jun. 30, 2012
Dec. 31, 2012
Integer
Dec. 31, 2011
Dec. 31, 2010
Segment Reporting Information [Line Items]                            
Number of Reportable Segments                   3   3    
Sales                            
Sales $ 852,295,000 $ 694,600,000 $ 764,600,000 $ 732,900,000 $ 587,000,000 $ 547,400,000 $ 628,000,000 $ 589,400,000 $ 483,200,000 $ 1,597,173,000 $ 1,319,886,000 $ 2,779,062,000 $ 2,248,088,000 $ 2,240,591,000
Other Segment Information [Abstract]                            
Income (loss) before income taxes 17,209,000     15,125,000           36,938,000 16,854,000 41,803,000 (46,123,000) (32,997,000)
Depreciation and amortization 8,766,000     8,338,000           17,243,000 16,457,000 33,407,000 37,022,000 34,899,000
EBITDA 30,700,000 [1]     28,200,000 [1]           63,700,000 [1] 42,700,000 [1] 96,600,000 [2] 9,500,000 [2] 22,100,000 [2]
Reconciliation from Segment Totals to Consolidated [Abstract]                            
Interest expense (4,781,000)     (4,818,000)           (9,672,000) (9,631,000) (21,757,000) (18,987,000) (21,005,000)
Interest income 62,000     87,000           124,000 194,000 392,000 407,000 790,000
Income (loss) before income taxes 17,209,000     15,125,000           36,938,000 16,854,000 41,803,000 (46,123,000) (32,997,000)
Wood Products [Member]
                            
Sales                            
Sales 280,400,000     241,800,000           549,600,000 453,000,000 943,300,000 712,500,000 687,400,000
Other Segment Information [Abstract]                            
Income (loss) before income taxes 23,000,000     15,500,000           43,900,000 26,400,000 55,800,000 (15,100,000) [3] (8,100,000) [4]
Depreciation and amortization 6,500,000     6,100,000           12,800,000 12,000,000 24,400,000 28,400,000 [3] 27,100,000
EBITDA 29,600,000 [1]     21,700,000 [1]           56,600,000 [1] 38,400,000 [1] 80,200,000 [2] 13,300,000 [2] 19,000,000 [2]
Reconciliation from Segment Totals to Consolidated [Abstract]                            
Income (loss) before income taxes 23,000,000     15,500,000           43,900,000 26,400,000 55,800,000 (15,100,000) [3] (8,100,000) [4]
Building Materials Distribution [Member]
                            
Sales                            
Sales 681,500,000     580,500,000           1,262,600,000 1,032,000,000 2,190,200,000 1,779,400,000 1,778,000,000
Other Segment Information [Abstract]                            
Income (loss) before income taxes 3,300,000     8,700,000           11,300,000 7,900,000 24,000,000 2,000,000 [3] 11,600,000 [4]
Depreciation and amortization 2,200,000     2,200,000           4,400,000 4,400,000 8,800,000 8,400,000 7,500,000
EBITDA 5,500,000 [1]     10,900,000 [1]           15,700,000 [1] 12,300,000 [1] 32,900,000 [2] 10,400,000 [2] 19,100,000 [2]
Reconciliation from Segment Totals to Consolidated [Abstract]                            
Income (loss) before income taxes 3,300,000     8,700,000           11,300,000 7,900,000 24,000,000 2,000,000 [3] 11,600,000 [4]
Corporate and Other [Member]
                            
Sales                            
Sales 0     0           0 0 0 0 0
Other Segment Information [Abstract]                            
Income (loss) before income taxes (4,400,000)     (4,400,000)           (8,600,000) (7,900,000) (16,700,000) (14,500,000) (16,300,000)
Depreciation and amortization 0     0           100,000 100,000 100,000 200,000 300,000
EBITDA (4,400,000) [1]     (4,400,000) [1]           (8,600,000) [1] (7,900,000) [1] (16,500,000) [2] (14,200,000) [2] (16,000,000) [2]
Reconciliation from Segment Totals to Consolidated [Abstract]                            
Income (loss) before income taxes (4,400,000)     (4,400,000)           (8,600,000) (7,900,000) (16,700,000) (14,500,000) (16,300,000)
Intersegment Eliminations [Member]
                            
Sales                            
Sales (109,600,000)     (89,400,000)           (215,100,000) (165,100,000) (354,400,000) (243,700,000) (224,800,000)
Operating Segments [Member]
                            
Sales                            
Sales 852,295,000     732,900,000           1,597,173,000 1,319,886,000 2,759,300,000 2,229,300,000 2,215,300,000
Other Segment Information [Abstract]                            
Income (loss) before income taxes 21,900,000     19,900,000           46,500,000 26,300,000 63,200,000 (27,500,000) (12,800,000)
Reconciliation from Segment Totals to Consolidated [Abstract]                            
Income (loss) before income taxes 21,900,000     19,900,000           46,500,000 26,300,000 63,200,000 (27,500,000) (12,800,000)
Operating Segments [Member] | Wood Products [Member]
                            
Sales                            
Sales 170,800,000     152,400,000           334,600,000 288,000,000 569,500,000 451,400,000 438,800,000
Operating Segments [Member] | Building Materials Distribution [Member]
                            
Sales                            
Sales 681,500,000     580,500,000           1,262,600,000 1,032,000,000 2,189,800,000 1,777,900,000 1,776,600,000
Operating Segments [Member] | Corporate and Other [Member]
                            
Sales                            
Sales 0     0           0 0 0 0 0
Intersegment Eliminations [Member]
                            
Sales                            
Sales 0     0           0 0 0 0 0
Intersegment Eliminations [Member] | Wood Products [Member]
                            
Sales                            
Sales 109,600,000     89,400,000           215,100,000 165,100,000 353,900,000 242,300,000 223,400,000
Intersegment Eliminations [Member] | Building Materials Distribution [Member]
                            
Sales                            
Sales 0     0           0 0 500,000 1,400,000 1,400,000
Intersegment Eliminations [Member] | Corporate and Other [Member]
                            
Sales                            
Sales 0     0           0 0 0 0 0
Intersegment Eliminations [Member] | Intersegment Eliminations [Member]
                            
Sales                            
Sales $ (109,600,000)     $ (89,400,000)           $ (215,100,000) $ (165,100,000) $ (354,400,000) $ (243,700,000) $ (224,800,000)
[1] EBITDA is defined as income (loss) before interest (interest expense and interest income), income taxes, and depreciation and amortization. EBITDA is the primary measure used by our chief operating decision maker to evaluate segment operating performance and to decide how to allocate resources to segments. We believe EBITDA is useful to investors because it provides a means to evaluate the operating performance of our segments and our company on an ongoing basis using criteria that are used by our internal decision makers and because it is frequently used by investors and other interested parties when comparing companies in our industry that have different financing and capital structures and/or tax rates. We believe EBITDA is a meaningful measure because it presents a transparent view of our recurring operating performance and allows management to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. EBITDA, however, is not a measure of our liquidity or financial performance under generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), income (loss) from operations, or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of our liquidity. The use of EBITDA instead of net income (loss) or segment income (loss) has limitations as an analytical tool, including the inability to determine profitability; the exclusion of interest expense, interest income, and associated significant cash requirements; and the exclusion of depreciation and amortization, which represent unavoidable operating costs. Management compensates for the limitations of EBITDA by relying on our GAAP results. Our measure of EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.The following is a reconciliation of net income to EBITDA: Three Months EndedJune 30?Six Months EndedJune 30 2013?2012?2013?2012 (millions)Net income(1)?$10.4?$15.0?$91.2?$16.7Interest expense?4.8?4.8?9.7?9.6Interest income?(0.1)?(0.1)?(0.1)?(0.2)Income tax provision (benefit)(1)?6.8?0.1?(54.3)?0.1Depreciation and amortization?8.8?8.3?17.2?16.5EBITDA?$30.7?$28.2?$63.7?$42.7?_______________________________________?(1)The six months ended June?30, 2013, includes $68.7 million of income tax benefit associated with the recording of net deferred tax assets upon our conversion to a corporation.
[2] EBITDA is defined as income (loss) before interest (interest expense and interest income), income taxes, and depreciation and amortization. EBITDA is the primary measure used by our chief operating decision maker to evaluate segment operating performance and to decide how to allocate resources to segments. We believe EBITDA is useful to investors because it provides a means to evaluate the operating performance of our segments and our company on an ongoing basis using criteria that are used by our internal decision makers and because it is frequently used by investors and other interested parties when comparing companies in our industry that have different financing and capital structures and/or tax rates. We believe EBITDA is a meaningful measure because it presents a transparent view of our recurring operating performance and allows management to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. EBITDA, however, is not a measure of our liquidity or financial performance under generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), income (loss) from operations, or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of our liquidity. The use of EBITDA instead of net income (loss) or segment income (loss) has limitations as an analytical tool, including the inability to determine profitability; the exclusion of interest expense, interest income, and associated significant cash requirements; and the exclusion of depreciation and amortization, which represent unavoidable operating costs. Management compensates for the limitations of EBITDA by relying on our GAAP results. Our measure of EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.The following is a reconciliation of net income (loss) to EBITDA for the consolidated company: Year Ended December 31 2012?2011?2010 (millions)Net income (loss)?$41.5?$(46.4)?$(33.3)Interest expense?21.8?19.0?21.0Interest income?(0.4)?(0.4)?(0.8)Income tax provision?0.3?0.2?0.3Depreciation and amortization?33.4?37.0?34.9EBITDA?$96.6?$9.5?$22.1
[3] In 2011, we permanently closed a laminated beam plant in our Wood Products segment, and we recorded the related expense of $1.3 million in "Other (income) expense, net" and $0.4 million of accelerated depreciation in "Depreciation and Amortization" in our Consolidated Statement of Operations for the year ended December?31, 2011. Also, during the year ended December?31, 2011, we recorded $2.0 million of noncash asset write-downs in "Other (income) expense, net," of which $1.2 million was recorded in our Building Materials Distribution segment and $0.9 million was recorded in our Wood Products segment.
[4] Included $4.6 million of income for cash received from a litigation settlement related to vendor product pricing. We recorded $4.1 million in our Building Materials Distribution segment and $0.5 million in our Wood Products segment.