EX-99.2 3 bccexhibit9926302016.htm QUARTERLY STATISTICAL INFORMATION Exhibit


Exhibit 99.2
Boise Cascade Company
Quarterly Statistical Information

Wood Products Segment
 
 
 
 
 
 
2016
 
Q1
Q2
Q3
Q4
YTD
 LVL sales volume (MCF)
3,566

4,626

 
 
8,192

 I-joist sales volume (MELF)
50,172

64,765

 
 
114,937

 Plywood sales volume (MSF 3/8")
379,631

377,934

 
 
757,565

 Lumber sales volume (MBF)
47,919

49,398

 
 
97,317

 LVL mill net sales price ($/CF)
$
16.74

$
16.79

 
 
$
16.77

 I-joist mill net sales price ($/MELF)
$
1,138

$
1,136

 
 
$
1,137

 Plywood net sales price ($/MSF 3/8")
$
261

$
271

 
 
$
266

 Lumber net sales price ($/MBF)
$
451

$
464

 
 
$
457

 Segment sales (000)
$
303,457

$
346,358

 
 
$
649,815

 Segment income (000)
$
5,885

$
16,309

 
 
$
22,194

 Segment depreciation and amortization (000)
$
11,634

$
14,769

 
 
$
26,403

 Segment EBITDA (000)1
$
17,519

$
31,078

 
 
$
48,597

 EBITDA as a percentage of sales
5.8
%
9.0
%


 
7.5
%
 Capital spending (000)2
$
11,870

$
15,862

 
 
$
27,732

 Receivables (000)
$
111,008

$
78,174

 
 
 
 Inventories (000)
$
175,842

$
190,692

 
 
 
 Accounts payable (000)
$
44,686

$
53,806

 
 
 
 
 
 
 
 
 
 
2015
 
Q1
Q2
Q3
Q4
YTD
 LVL sales volume (MCF)
2,840

3,485

3,785

2,955

13,065

 I-joist sales volume (MELF)
40,810

56,572

57,121

46,319

200,822

 Plywood sales volume (MSF 3/8")
412,139

410,491

412,369

399,577

1,634,576

 Lumber sales volume (MBF)
48,100

55,945

54,354

47,289

205,688

 LVL mill net sales price ($/CF)
$
16.48

$
16.46

$
16.53

$
16.28

$
16.44

 I-joist mill net sales price ($/MELF)
$
1,098

$
1,098

$
1,118

$
1,112

$
1,107

 Plywood net sales price ($/MSF 3/8")
$
312

$
302

$
282

$
268

$
291

 Lumber net sales price ($/MBF)
$
510

$
484

$
477

$
456

$
482

 Segment sales (000)
$
309,316

$
339,869

$
340,621

$
292,307

$
1,282,113

 Segment income (loss) (000)
$
20,896

$
23,712

$
21,876

$
(2,263
)
$
64,221

 Segment depreciation and amortization (000)
$
10,791

$
10,341

$
11,049

$
11,091

$
43,272

 Segment EBITDA (000)1
$
31,687

$
34,053

$
32,925

$
8,828

$
107,493

 EBITDA as a percentage of sales
10.2
%
10.0
%
9.7
%
3.0
%
8.4
%
 Capital spending (000)
$
9,532

$
13,957

$
20,119

$
25,149

$
68,757

 Receivables (000)
$
69,406

$
73,243

$
72,626

$
47,639

 
 Inventories (000)
$
161,586

$
151,000

$
160,134

$
163,961

 
 Accounts payable (000)
$
47,762

$
53,800

$
56,336

$
40,868

 



1



Boise Cascade Company
Quarterly Statistical Information (continued)

Wood Products Segment (continued)
 
 
 
 
 
 
2014
 
Q1
Q2
Q3
Q4
YTD
 LVL sales volume (MCF)
2,642

3,434

3,602

2,677

12,355

 I-joist sales volume (MELF)
39,839

56,813

56,403

39,587

192,642

 Plywood sales volume (MSF 3/8")
414,443

430,404

396,339

409,952

1,651,138

 Lumber sales volume (MBF)
45,883

56,799

57,261

51,690

211,633

 LVL mill net sales price ($/CF)
$
16.00

$
16.28

$
16.59

$
16.34

$
16.32

 I-joist mill net sales price ($/MELF)
$
1,016

$
1,068

$
1,095

$
1,091

$
1,070

 Plywood net sales price ($/MSF 3/8")
$
294

$
301

$
335

$
330

$
314

 Lumber net sales price ($/MBF)
$
569

$
574

$
546

$
544

$
558

 Segment sales (000)
$
293,274

$
351,011

$
355,697

$
317,019

$
1,317,001

 Segment income (000)
$
13,047

$
31,213

$
40,631

$
23,483

$
108,374

 Segment depreciation and amortization (000)
$
9,980

$
10,044

$
10,711

$
10,722

$
41,457

 Segment EBITDA (000)1
$
23,027

$
41,257

$
51,342

$
34,205

$
149,831

 EBITDA as a percentage of sales
7.9
%
11.8
%
14.4
%
10.8
%
11.4
%
 Capital spending (000)
$
9,714

$
5,659

$
11,541

$
13,377

$
40,291

 Receivables (000)
$
62,203

$
70,288

$
66,882

$
53,726

 
 Inventories (000)
$
154,412

$
149,388

$
158,324

$
162,395

 
 Accounts payable (000)
$
45,719

$
55,365

$
55,581

$
42,721

 
 
 
 
 
 
 
1Segment EBITDA is calculated as segment income (loss) before depreciation and amortization.
2 Capital spending in second quarter 2016 and first quarter 2016 excludes $0.3 million and $215.6 million, respectively, of cash paid for the acquisition of businesses and facilities.



2



Boise Cascade Company
Quarterly Statistical Information (continued)

Building Materials Distribution Segment
 
 
 
 
 
2016
 
Q1
Q2
Q3
Q4
YTD
 Commodity sales
47.2
%
45.5
%
 
 
46.2
%
 General line sales
34.4
%
36.5
%
 
 
35.6
%
 EWP sales
18.4
%
18.0
%
 
 
18.2
%
 Total sales (000)
$
717,254

$
850,042

 
 
$
1,567,296

 Gross margin1
11.4
%
12.5
%
 
 
12.0
%
 Segment income (000)
$
13,373

$
29,117

 
 
$
42,490

 Segment depreciation and amortization (000)
$
3,235

$
3,354

 
 
$
6,589

 Segment EBITDA (000)2
$
16,608

$
32,471

 
 
$
49,079

 EBITDA as a percentage of sales
2.3
%
3.8
%


 
3.1
%
 Capital spending (000)
$
2,896

$
3,599

 
 
$
6,495

 Receivables (000)
$
229,673

$
236,954

 
 
 
 Inventories (000)
$
264,721

$
271,306

 
 
 
 Accounts payable (000)
$
248,170

$
217,149

 
 
 
 
 
 
 
 
 
 
2015
 
Q1
Q2
Q3
Q4
YTD
 Commodity sales
48.4
%
45.2
%
45.5
%
47.3
%
46.5
%
 General line sales
34.7
%
37.0
%
36.4
%
35.2
%
35.9
%
 EWP sales
16.9
%
17.8
%
18.1
%
17.5
%
17.6
%
 Total sales (000)
$
622,905

$
762,078

$
798,982

$
707,337

$
2,891,302

 Gross margin1
10.4
%
11.5
%
12.0
%
12.2
%
11.6
%
 Segment income (000)
$
3,346

$
19,576

$
22,684

$
15,145

$
60,751

 Segment depreciation and amortization (000)
$
2,739

$
2,874

$
3,121

$
3,203

$
11,937

 Segment EBITDA (000)2
$
6,085

$
22,450

$
25,805

$
18,348

$
72,688

 EBITDA as a percentage of sales
1.0
%
2.9
%
3.2
%
2.6
%
2.5
%
 Capital spending (000)
$
2,963

$
4,023

$
3,928

$
3,595

$
14,509

 Receivables (000)
$
174,582

$
195,587

$
192,336

$
165,649

 
 Inventories (000)
$
270,881

$
264,114

$
244,481

$
220,896

 
 Accounts payable (000)
$
179,530

$
209,090

$
181,586

$
130,190

 


3


Boise Cascade Company
Quarterly Statistical Information (continued)

Building Materials Distribution Segment (continued)
 
 
 
 
2014
 
Q1
Q2
Q3
Q4
YTD
 Commodity sales
52.2
%
48.7
%
47.7
%
49.6
%
49.4
%
 General line sales
31.9
%
33.7
%
34.8
%
33.7
%
33.6
%
 EWP sales
15.9
%
17.6
%
17.5
%
16.6
%
17.0
%
 Total sales (000)
$
585,530

$
758,375

$
773,391

$
669,367

$
2,786,663

 Gross margin1
10.6
%
11.3
%
12.0
%
11.2
%
11.4
%
 Segment income (000)
$
5,861

$
19,401

$
21,058

$
10,359

$
56,679

 Segment depreciation and amortization (000)
$
2,307

$
2,394

$
2,448

$
2,653

$
9,802

 Segment EBITDA (000)2
$
8,168

$
21,795

$
23,506

$
13,012

$
66,481

 EBITDA as a percentage of sales
1.4
%
2.9
%
3.0
%
1.9
%
2.4
%
 Capital spending (000)
$
2,720

$
3,551

$
7,161

$
6,917

$
20,349

 Receivables (000)
$
163,820

$
181,390

$
176,920

$
142,891

 
 Inventories (000)
$
266,647

$
261,176

$
240,547

$
232,066

 
 Accounts payable (000)
$
167,152

$
174,402

$
149,548

$
119,054

 
 
 
 
 
 
 
1We define gross margin as "Sales" less "Materials, labor, and other operating expenses (excluding depreciation)." Substantially all costs included in "Materials, labor, and other operating expenses (excluding depreciation)" for our Building Materials Distribution segment are for inventory purchased for resale. Gross margin percentage is gross margin as a percentage of segment sales.
2Segment EBITDA is calculated as segment income before depreciation and amortization.



4



Boise Cascade Company
Quarterly Statistical Information (continued)
Reconciliation of Non-GAAP Financial Measures
(000)

Total Boise Cascade Company
 
 
 
 
 
 
 
 
 
 
EBITDA represents income before interest (interest expense, interest income, and change in fair value of interest rate swaps), income taxes, depreciation and amortization. The following tables reconcile net income to EBITDA for the periods noted below:
 
2016
 
Q1
Q2
Q3
Q4
YTD
 
 
 
 
 
 
Net income
$
4,950

$
19,228

 
 
$
24,178

Interest expense
5,802

6,427

 
 
12,229

Interest income
(149
)
(27
)
 
 
(176
)
Change in fair value of interest rate swaps
69

1,532

 
 
1,601

Income tax provision
2,931

10,735

 
 
13,666

Depreciation and amortization
15,238

18,552

 
 
33,790

EBITDA
$
28,841

$
56,447





$
85,288

 
 
 
 
 
 
 
2015
 
Q1
Q2
Q3
Q4
YTD
 
 
 
 
 
 
Net income
$
7,617

$
20,230

$
22,007

$
2,328

$
52,182

Interest expense
5,481

5,591

5,729

5,731

22,532

Interest income
(90
)
(58
)
(73
)
(102
)
(323
)
Income tax provision (benefit)
4,573

11,637

12,629

(339
)
28,500

Depreciation and amortization
13,587

13,281

14,249

14,461

55,578

EBITDA
$
31,168

$
50,681

$
54,541

$
22,079

$
158,469

 
 
 
 
 
 
 
2014
 
Q1
Q2
Q3
Q4
YTD
 
 
 
 
 
 
Net income
$
5,565

$
26,418

$
32,285

$
15,741

$
80,009

Interest expense
5,512

5,519

5,514

5,504

22,049

Interest income
(70
)
(53
)
(57
)
(57
)
(237
)
Income tax provision
3,461

14,286

18,133

7,416

43,296

Depreciation and amortization
12,320

12,482

13,203

13,434

51,439

EBITDA
$
26,788

$
58,652

$
69,078

$
42,038

$
196,556



5