10-Q Filing

TOPBUILD CORP CIK: 1633931 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-004296`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	bld-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 31 Cash Flow Statement 63 Stockholders Equity 21

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.01M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.67M	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`	$56.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.33M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred Stock, Shares, Issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables, net of an allowance for doubtful accounts of $3,008 and $3,673 at March 31, 2018, and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$313.57M	USD	Point-in-time
Receivables, net of an allowance for doubtful accounts of $3,008 and $3,673 at March 31, 2018, and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$308.51M	USD	Point-in-time
Preferred Stock, Shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares, Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$138.45M	USD	Point-in-time
Inventories, net	`InventoryNet`	$131.34M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.22M	USD	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`	$11.53M	USD	Point-in-time
Common Stock, Par Value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$511.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$500.88M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	38.70M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$115.44M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	38.63M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$107.12M	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	35.59M	shares	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	35.65M	shares	Point-in-time
Goodwill	`Goodwill`	$1.08B	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$48.44M	USD	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	3.04M	shares	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	3.05M	shares	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$33.24M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$18.13M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$18.13M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.23M	USD	Point-in-time
Total Assets	`Assets`	$1.77B	USD	Point-in-time
Total Assets	`Assets`	$1.75B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$263.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$254.38M	USD	Point-in-time
Current portion of long-term debt - term loan	`LongTermDebtCurrentTermLoan`	$12.50M	USD	Point-in-time
Current portion of long-term debt - term loan	`LongTermDebtCurrentTermLoan`	$12.50M	USD	Point-in-time
Current portion of long-term debt - equipment notes	`LongTermDebtCurrentEquipmentNotes`	$1.86M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$74.53M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$75.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$351.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$343.28M	USD	Point-in-time
Long-term debt - term loan	`LongTermDebtNoncurrentTermLoan`	$225.33M	USD	Point-in-time
Long-term debt - term loan	`LongTermDebtNoncurrentTermLoan`	$229.39M	USD	Point-in-time
Long-term debt - equipment notes	`LongTermDebtNoncurrentEquipmentNotes`	$8.21M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$132.84M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$132.84M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$33.82M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$36.16M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.67M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$753.03M	USD	Point-in-time
Total Liabilities	`Liabilities`	$747.14M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,698,962 issued and 35,645,843 outstanding at March 31, 2018, and 38,626,378 shares issued and 35,586,916 outstanding at December 31, 2017	`CommonStockValue`	$387.00K	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,698,962 issued and 35,645,843 outstanding at March 31, 2018, and 38,626,378 shares issued and 35,586,916 outstanding at December 31, 2017	`CommonStockValue`	$386.00K	USD	Point-in-time
Treasury stock, 3,053,119 shares at March 31, 2018, and 3,039,462 shares at December 31, 2017, at cost	`TreasuryStockValue`	$141.58M	USD	Point-in-time
Treasury stock, 3,053,119 shares at March 31, 2018, and 3,039,462 shares at December 31, 2017, at cost	`TreasuryStockValue`	$161.58M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$830.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$848.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$307.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$333.50M	USD	Point-in-time
Total equity	`StockholdersEquity`	$996.52M	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total equity	`StockholdersEquity`	$972.55M	USD	Point-in-time
Total equity	`StockholdersEquity`	$953.96M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.75B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.77B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$441.36M	USD	1 Quarter
Net sales	`Revenues`	$491.44M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$380.43M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$339.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$101.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$111.02M	USD	1 Quarter
Selling, general, and administrative expense (exclusive of significant legal settlement, shown separately below)	`SellingGeneralAndAdministrativeExpense`	$75.09M	USD	1 Quarter
Selling, general, and administrative expense (exclusive of significant legal settlement, shown separately below)	`SellingGeneralAndAdministrativeExpense`	$77.12M	USD	1 Quarter
Significant legal settlement	`LitigationSettlementAmountExpense`	$30.00M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$33.89M	USD	1 Quarter
Operating profit (loss)	`OperatingIncomeLoss`	$-3.46M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.32M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.37M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$107.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$34.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-1.26M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-2.29M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.60M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.73M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$5.21M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-3.02M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.12M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.06M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.12M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.82M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Acquisition, cash acquired	`CashAcquiredFromAcquisition`	$239.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.44M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.08M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.40M	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-88.00K	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-200.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$86.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$107.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$70.00K	USD	1 Quarter
Provision for bad debt expense	`ProvisionForDoubtfulAccounts`	$760.00K	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`	$468.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.09M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$6.57M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-4.53M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$5.14M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.91M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-17.84M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-11.43M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$33.66M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.92M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$118.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-597.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.83M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Acquisition of businesses, net of cash acquired of $239 in 2018	`PaymentsToAcquireBusinessesGross`	$41.24M	USD	1 Quarter
Acquisition of businesses, net of cash acquired of $239 in 2018	`PaymentsToAcquireBusinessesGross`	$26.96M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$133.00K	USD	1 Quarter
Repayment of notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$13.00K	USD	1 Quarter
Repayment of notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$32.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.14M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-44.88M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.12M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$5.00M	USD	1 Quarter
Proceeds from equipment notes	`ProceedsFromExecutionOfEquipmentNotes`	$10.07M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$55.00M	USD	1 Quarter
Repayments of revolving credit facility	`RepaymentsOfLinesOfCredit`	$55.00M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.04M	USD	1 Quarter
Taxes withheld and paid on employees' equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.51M	USD	1 Quarter
Taxes withheld and paid on employees' equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.58M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$17.38M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.39M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.96M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.01M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.19M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$56.52M	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`	$37.33M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.52M	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`	$37.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.37M	USD	Point-in-time
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.12M	USD	1 Quarter
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$237.00K	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
Issuance of restricted share awards under long-term equity incentive plan (in shares)	`StockIssuedDuringPeriodSharesRestrictedStockAwardGross`	79,010.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program (in shares)	`TreasuryStockSharesAcquiredCostMethodShareRepurchaseProgram`	397,035.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to Accelerated Share Repurchase Program (in shares)	`TreasuryStockSharesAcquiredCostMethodAcceleratedShareRepurchaseProgram`	13,657.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	83,754.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	42,629.00	shares	1 Quarter
Balance	`StockholdersEquity`	$996.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$972.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$953.96M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.71M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.08M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.40M	USD	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program	`TreasuryStockValueAcquiredCostMethodShareRepurchaseProgram`	$17.38M	USD	1 Quarter
Shares of common stock withheld to pay taxes on employees' equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.51M	USD	1 Quarter
Shares of common stock withheld to pay taxes on employees' equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.58M	USD	1 Quarter
Balance	`StockholdersEquity`	$996.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$972.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$953.96M	USD	Point-in-time

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