10-Q Filing

TOPBUILD CORP CIK: 1633931 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-003976`
Period End Date	20170331
Filing Date	20170509
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	bld-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 33 Cash Flow Statement 58 Stockholders Equity 21

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.37M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.63M	USD	Point-in-time
Preferred Stock, Par Value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred Stock, Par Value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.38M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$108.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.85M	USD	Point-in-time
Preferred Stock, Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables, net of an allowance for doubtful accounts of $3,633 and $3,374 at March 31, 2017, and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$269.36M	USD	Point-in-time
Preferred Stock, Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables, net of an allowance for doubtful accounts of $3,633 and $3,374 at March 31, 2017, and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$252.62M	USD	Point-in-time
Preferred Stock, Shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$116.19M	USD	Point-in-time
Inventories, net	`InventoryNet`	$112.63M	USD	Point-in-time
Preferred Stock, Shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.59M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.36M	USD	Point-in-time
Common Stock, Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$526.55M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$489.95M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$92.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$95.79M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	38.58M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	38.49M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	37.51M	shares	Point-in-time
Goodwill	`Goodwill`	$1.05B	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	37.82M	shares	Point-in-time
Goodwill	`Goodwill`	$1.06B	USD	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	673,626.00	shares	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	1.07M	shares	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.66M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$15.95M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$19.47M	USD	Point-in-time
Deferred tax assets, net	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$19.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.26M	USD	Point-in-time
Total Assets	`Assets`	$1.69B	USD	Point-in-time
Total Assets	`Assets`	$1.69B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$241.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$226.97M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$64.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$99.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$325.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$346.62M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$153.88M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$158.80M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$193.72M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$193.72M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$38.69M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$37.87M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$433.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.89M	USD	Point-in-time
Total Liabilities	`Liabilities`	$733.98M	USD	Point-in-time
Total Liabilities	`Liabilities`	$717.57M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value: 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2017, and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2017, and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,575,699 issued and 37,505,038 outstanding at March 31, 2017, and 38,488,825 shares issued and 37,815,199 outstanding at December 31, 2016	`CommonStockValue`	$386.00K	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,575,699 issued and 37,505,038 outstanding at March 31, 2017, and 38,488,825 shares issued and 37,815,199 outstanding at December 31, 2016	`CommonStockValue`	$385.00K	USD	Point-in-time
Treasury stock, 1,070,661 shares at March 31, 2017, and 673,626 shares at December 31, 2016, at cost	`TreasuryStockValue`	$39.67M	USD	Point-in-time
Treasury stock, 1,070,661 shares at March 31, 2017, and 673,626 shares at December 31, 2016, at cost	`TreasuryStockValue`	$22.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$845.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$845.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$148.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$147.27M	USD	Point-in-time
Total equity	`StockholdersEquity`	$925.65M	USD	Point-in-time
Total equity	`StockholdersEquity`	$953.96M	USD	Point-in-time
Total equity	`StockholdersEquity`	$915.73M	USD	Point-in-time
Total equity	`StockholdersEquity`	$972.55M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.69B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.69B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$414.02M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$441.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$339.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$324.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$89.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$101.63M	USD	1 Quarter
Selling, general, and administrative expense (exclusive of significant legal settlement, shown separately below)	`SellingGeneralAndAdministrativeExpense`	$69.69M	USD	1 Quarter
Selling, general, and administrative expense (exclusive of significant legal settlement, shown separately below)	`SellingGeneralAndAdministrativeExpense`	$75.09M	USD	1 Quarter
Significant legal settlement (See Note 8 Other Commitments & Contingencies)	`LitigationSettlementAmount`	$-30.00M	USD	1 Quarter
Operating (loss) profit	`OperatingIncomeLoss`	$-3.46M	USD	1 Quarter
Operating (loss) profit	`OperatingIncomeLoss`	$19.77M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.67M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.37M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$107.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$75.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-1.60M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
(Loss) income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.17M	USD	1 Quarter
(Loss) income from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.73M	USD	1 Quarter
Income tax benefit (expense) from continuing operations	`IncomeTaxExpenseBenefit`	$-3.02M	USD	1 Quarter
Income tax benefit (expense) from continuing operations	`IncomeTaxExpenseBenefit`	$7.05M	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperations`	$-1.71M	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperations`	$11.12M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$11.12M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.05	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.29	USD	1 Quarter
Net (loss) income	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Net (loss) income	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.29	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.05	USD	1 Quarter
Net (loss) income	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Net (loss) income	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$11.12M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.90M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.60M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.08M	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-950.00K	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-88.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$86.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$86.00K	USD	1 Quarter
Provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$1.05M	USD	1 Quarter
Provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$995.00K	USD	1 Quarter
Loss from inventory obsolescence	`InventoryWriteDown`	$360.00K	USD	1 Quarter
Loss from inventory obsolescence	`InventoryWriteDown`	$335.00K	USD	1 Quarter
Deferred income taxes, net	`IncreaseDecreaseInDeferredIncomeTaxes`	$3.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$8.51M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$6.57M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-4.53M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-10.35M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.20M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.17M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.84M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-29.85M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-6.18M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-33.66M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-27.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$118.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.35M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$14.83M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.90M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Acquisition of businesses	`PaymentsToAcquireBusinessesGross`	$41.24M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$133.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$76.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-32.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-68.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-44.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.76M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$2.50M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Taxes withheld and paid on employees' equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.26M	USD	1 Quarter
Taxes withheld and paid on employees' equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.58M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.54M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$17.38M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-23.96M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-5.29M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.01M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.70M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$134.38M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$108.15M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$112.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$134.38M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$108.15M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$112.85M	USD	Point-in-time
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$237.00K	USD	1 Quarter
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$426.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Issuance of restricted share awards under long-term equity incentive plan (in shares)	`StockIssuedDuringPeriodSharesRestrictedStockAwardGross`	141,000.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program (in shares)	`TreasuryStockSharesAcquired`	53,408.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program (in shares)	`TreasuryStockSharesAcquired`	397,035.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	42,629.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	50,728.00	shares	1 Quarter
Balance	`StockholdersEquity`	$925.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$953.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$915.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$972.55M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$11.12M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.60M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.08M	USD	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program	`TreasuryStockValueAcquiredCostMethod`	$1.54M	USD	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program	`TreasuryStockValueAcquiredCostMethod`	$17.38M	USD	1 Quarter
Shares of common stock withheld to satisfy statutory withholding requirements	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.58M	USD	1 Quarter
Shares of common stock withheld to satisfy statutory withholding requirements	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.26M	USD	1 Quarter
Balance	`StockholdersEquity`	$925.65M	USD	Point-in-time
Balance	`StockholdersEquity`	$953.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$915.73M	USD	Point-in-time
Balance	`StockholdersEquity`	$972.55M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.