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Acquisitions | 12 Months Ended
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Dec. 31, 2016
Business Combinations [Abstract] |
Business Combination Disclosure | Acquisitions On March 31, 2016, our wholly owned subsidiary, Boise Cascade Wood Products, L.L.C., completed the acquisition of Georgia-Pacific LLC's and certain of its affiliates' (collectively, GP) EWP facilities located in Thorsby, Alabama, and Roxboro, North Carolina, for an aggregate purchase price of $215.9 million, including a post-closing adjustment of $0.3 million based upon a working capital target (the Acquisition). We funded the Acquisition and related costs with cash on hand, a new $75.0 million term loan, and a $55.0 million draw under our revolving credit facility. For additional information on the new term loan and draw under our revolving credit facility, see Note 7, Debt. Acquisition-related costs of $3.6 million are recorded in "General and administrative expenses" in our Consolidated Statements of Operations for the year ended December 31, 2016. These facilities complement our existing EWP business and position us to support customers as the U.S. housing recovery continues in the years ahead. The additional EWP capacity will also help us cost effectively deliver products to our customers in the eastern and southeastern U.S. Sales, including sales to our Building Materials Distribution segment, and net operating loss (excluding sales and marketing costs) from these facilities of $68.3 million and $2.4 million, respectively, were reported as part of the Wood Products segment for the period from April 1, 2016 through December 31, 2016. Goodwill represents the excess of the purchase price and related costs over the fair value of the net tangible and intangible assets of businesses acquired. The primary qualitative factor that contributed to the recognition of goodwill relates to additional capacity and an assembled workforce in key product lines to serve future and existing customers. The facilities are geographically located in a high growth housing area that allows us to optimize our mill system and realize freight and other cost synergies. All of the goodwill was assigned to the Wood Products segment and is deductible for U.S. income tax purposes. The following table summarizes the final allocations of the purchase price to the assets acquired and liabilities assumed, based on our estimates of the fair value at the date of the Acquisition:
|  | Acquisition Date Fair Value
|  | (thousands)
Accounts receivable |  | $ | 10,467 |
Inventories |  | 17,837 |
Property and equipment |  | 149,135 |
Other assets |  | 619 |
Intangible assets: |  |
Customer relationships |  | 6,000 |
Goodwill |  | 33,610 |
Assets acquired |  | 217,668 |
Accrued liabilities |  | 1,768 |
Liabilities assumed |  | 1,768 |
Net assets acquired |  | $ | 215,900 |
Pro Forma Financial Information The following pro forma financial information gives effect to the Acquisition as if it had occurred on January 1, 2015. The pro forma financial information also gives effect to the issuance of a $75.0 million term loan due March 30, 2026 and a $55.0 million draw under our revolving credit facility incurred to partially finance the Acquisition, as if such transactions had occurred on January 1, 2015. The pro forma results are intended for informational purposes only and do not purport to represent what our results of operations would actually have been had the Acquisition and related financing transactions occurred on January 1, 2015. They also do not reflect any revenue enhancements or cost savings, operating synergies, customer attrition, or incremental depreciation upon the restart of laminated veneer lumber assets at Roxboro.
|  | Pro Forma
|  | Year Ended December 31
|  | 2016 |  | 2015
|  | (unaudited, thousands, except per-share data)
Sales |  | $ | 3,938,409 |  |  | $ | 3,726,477 |
Net income (a) |  | $ | 41,400 |  |  | $ | 54,425 |
Net income per common share - Basic |  | $ | 1.07 |  |  | $ | 1.39 |
Net income per common share - Diluted |  | $ | 1.06 |  |  | $ | 1.38 |
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(a) | The pro forma financial information for the years ended December 31, 2016 and 2015, was adjusted to exclude $3.6 million and $1.6 million, respectively, of pre-tax acquisition-related costs for legal, accounting, and other advisory-related services.

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