10-Q Filing

TOPBUILD CORP CIK: 1633931 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-004246`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	bld-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 30 Cash Flow Statement 65 Stockholders Equity 22

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.68M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.75M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$100.93M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$98.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.33M	USD	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 $4,753 and $3,676 at March 31, 2019, and December 31, 2018, respectively	`AccountsReceivableNetCurrent`	$407.11M	USD	Point-in-time
Receivables, net of an allowance for doubtful accounts of $4,753 and $3,676 at March 31, 2019, and December 31, 2018, respectively	`AccountsReceivableNetCurrent`	$428.71M	USD	Point-in-time
Inventories, net	`InventoryNet`	$168.98M	USD	Point-in-time
Inventories, net	`InventoryNet`	$160.69M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.68M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$16.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$704.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$704.70M	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
Common stock, shares issued	`CommonStockSharesIssued`	38.68M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.77M	shares	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$94.22M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.41M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$167.96M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$169.89M	USD	Point-in-time
Goodwill	`Goodwill`	$1.36B	USD	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	4.35M	shares	Point-in-time
Goodwill	`Goodwill`	$1.36B	USD	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	4.10M	shares	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$199.39M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$194.21M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$11.88M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$13.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.16M	USD	Point-in-time
Total assets	`Assets`	$2.54B	USD	Point-in-time
Total assets	`Assets`	$2.45B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$313.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.35M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$26.85M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$29.09M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$104.24M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent`	$103.41M	USD	Point-in-time
Short-term lease liabilities	`OperatingLeaseLiabilityCurrent`	$37.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$451.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$444.26M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$716.62M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$709.17M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$174.23M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$176.21M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$43.43M	USD	Point-in-time
Long-term portion of insurance reserves	`AccruedInsuranceNoncurrent`	$43.94M	USD	Point-in-time
Long-term lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$59.75M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.91M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.44B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.38B	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, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,766,157 issued and 34,414,049 outstanding at March 31, 2019, and 38,676,586 shares issued and 34,573,596 outstanding at December 31, 2018	`CommonStockValue`	$387.00K	USD	Point-in-time
Common stock, $0.01 par value: 250,000,000 shares authorized; 38,766,157 issued and 34,414,049 outstanding at March 31, 2019, and 38,676,586 shares issued and 34,573,596 outstanding at December 31, 2018	`CommonStockValue`	$388.00K	USD	Point-in-time
Treasury stock, 4,352,108 shares at March 31, 2019, and 4,102,990 shares at December 31, 2018, at cost	`TreasuryStockValue`	$216.61M	USD	Point-in-time
Treasury stock, 4,352,108 shares at March 31, 2019, and 4,102,990 shares at December 31, 2018, at cost	`TreasuryStockValue`	$231.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$853.84M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$846.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$441.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$479.85M	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.07B	USD	Point-in-time
Total equity	`StockholdersEquity`	$996.52M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.54B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$2.45B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$619.33M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$491.44M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$463.63M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$380.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$155.69M	USD	1 Quarter
Gross profit	`GrossProfit`	$111.02M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$77.12M	USD	1 Quarter
Selling, general, and administrative expense	`SellingGeneralAndAdministrativeExpense`	$99.08M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$56.62M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$33.89M	USD	1 Quarter
Interest expense	`InterestExpense`	$9.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.32M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$333.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$34.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-2.29M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-9.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$47.35M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.21M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$9.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.98M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.75	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.09	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.17M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.06M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	34.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.82M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.47M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.40M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$2.97M	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-200.00K	USD	1 Quarter
Loss on sale or abandonment of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-487.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$107.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$390.00K	USD	1 Quarter
Change in fair value of contingent consideration	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$44.00K	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`	$1.68M	USD	1 Quarter
Loss from inventory obsolescence	`InventoryWriteDown`	$468.00K	USD	1 Quarter
Loss from inventory obsolescence	`InventoryWriteDown`	$1.11M	USD	1 Quarter
Deferred income taxes, net	`IncreaseDecreaseInDeferredIncomeTaxes`	$-95.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.09M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInAccountsReceivable`	$23.34M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-7.12M	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`	$-11.19M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-31.41M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-11.43M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.92M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$2.10M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-597.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$622.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.52M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.57M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.21M	USD	1 Quarter
Acquisition of businesses, net of cash acquired of $239 in 2018	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$26.96M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$75.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-13.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-16.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.12M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.14M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$10.07M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$5.60M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$3.12M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.04M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$55.00M	USD	1 Quarter
Repayment of revolving credit facility	`RepaymentsOfLinesOfCredit`	$55.00M	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`	$5.58M	USD	1 Quarter
Repurchase of shares of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.62M	USD	1 Quarter
Payment of contingent consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$250.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.05M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.39M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.19M	USD	1 Quarter
Decrease for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.65M	USD	1 Quarter
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$56.52M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$100.93M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$98.28M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$37.33M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$56.52M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$100.93M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$98.28M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$37.33M	USD	Point-in-time
Leased assets obtained in exchange for new operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$105.25M	USD	1 Quarter
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.12M	USD	1 Quarter
Accruals for property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$441.00K	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Issuance of restricted share awards under long-term equity incentive plan (in shares)	`StockIssuedDuringPeriodSharesRestrictedStockAwardGross`	112,270.00	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 the settlement of Accelerated Share Repurchase Agreement (in shares)	`TreasuryStockSharesAcquiredCostMethodSettlementOfAcceleratedShareRepurchaseProgram`	176,327.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to the settlement of Accelerated Share Repurchase Agreement (in shares)	`TreasuryStockSharesAcquiredCostMethodSettlementOfAcceleratedShareRepurchaseProgram`	13,657.00	shares	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program (in shares)	`TreasuryStockSharesAcquiredCostMethodShareRepurchaseProgram`	72,791.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	105,615.00	shares	1 Quarter
Number of shares of common stock withheld to satisfy statutory withholding requirements (in shares)	`SharesPaidForTaxWithholdingForShareBasedCompensation`	83,754.00	shares	1 Quarter
Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.07B	USD	Point-in-time
Balance	`StockholdersEquity`	$996.52M	USD	Point-in-time
Net income	`NetIncomeLoss`	$26.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.98M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.97M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.40M	USD	1 Quarter
Repurchase of shares of common stock pursuant to Share Repurchase Program	`TreasuryStockValueAcquiredCostMethodShareRepurchaseProgram`	$4.62M	USD	1 Quarter
Shares of common stock withheld to pay taxes on employees equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.58M	USD	1 Quarter
Shares of common stock withheld to pay taxes on employees equity awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.51M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.07B	USD	Point-in-time
Balance	`StockholdersEquity`	$996.52M	USD	Point-in-time

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