10-K Filing

CONSTRUCTION PARTNERS, INC. CIK: 1718227 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001718227-20-000093`
Period End Date	20200930
Filing Date	20201211
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	road-20200930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 32 Cash Flow Statement 82 Stockholders Equity 11

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.62M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$148.32M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Contracts receivable including retainage, net	`ReceivablesLongTermContractsOrPrograms`	$139.88M	USD	Point-in-time
Contracts receivable including retainage, net	`ReceivablesLongTermContractsOrPrograms`	$131.77M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ContractWithCustomerAssetNetCurrent`	$7.87M	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ContractWithCustomerAssetNetCurrent`	$12.03M	USD	Point-in-time
Inventories	`InventoryNet`	$38.56M	USD	Point-in-time
Inventories	`InventoryNet`	$34.29M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.11M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.14M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.04M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	19.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$279.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$331.56M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$205.87M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$237.23M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$7.38M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Goodwill	`Goodwill`	$32.92M	USD	Point-in-time
Goodwill	`Goodwill`	$46.35M	USD	Point-in-time
Goodwill	`Goodwill`	$38.55M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.22M	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$198.00K	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$496.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.78M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.28M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$1.17M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxAssetsNet`	$386.00K	USD	Point-in-time
Total assets	`Assets`	$628.11M	USD	Point-in-time
Total assets	`Assets`	$531.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$70.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$64.73M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`ContractWithCustomerLiabilityCurrent`	$33.70M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`ContractWithCustomerLiabilityCurrent`	$31.11M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.05M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$7.54M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$13.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$22.35M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$19.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$128.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$135.83M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$42.46M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$79.05M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$5.55M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$14.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$11.48M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.11M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.48M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$60.05M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$107.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$188.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$242.92M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2020 and September 30, 2019 and no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 10,000,000 shares authorized at September 30, 2020 and September 30, 2019 and no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$243.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$245.02M	USD	Point-in-time
Treasury stock, at cost, 2,922,952 shares of Class B common stock, par value $0.001	`TreasuryStockValue`	$15.60M	USD	Point-in-time
Treasury stock, at cost, 2,922,952 shares of Class B common stock, par value $0.001	`TreasuryStockValue`	$15.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$115.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$155.72M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$343.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$385.19M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$299.47M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$628.11M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$531.77M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$783.24M	USD	Annual
Revenues	`Revenues`	$785.68M	USD	Annual
Cost of revenues	`CostOfGoodsAndServicesSold`	$665.28M	USD	Annual
Cost of revenues	`CostOfGoodsAndServicesSold`	$663.47M	USD	Annual
Gross profit	`GrossProfit`	$122.21M	USD	Annual
Gross profit	`GrossProfit`	$117.95M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$62.72M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$68.60M	USD	Annual
Gain on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$1.91M	USD	Annual
Gain on sale of equipment, net	`GainLossOnSaleOfPropertyPlantEquipment`	$1.62M	USD	Annual
Operating income	`OperatingIncomeLoss`	$55.23M	USD	Annual
Operating income	`OperatingIncomeLoss`	$57.14M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-3.11M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-1.86M	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-336.00K	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-416.00K	USD	Annual
Income before provision for income taxes and earnings from investment in joint venture	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$55.69M	USD	Annual
Income before provision for income taxes and earnings from investment in joint venture	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$52.45M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$12.76M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$13.91M	USD	Annual
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$1.34M	USD	Annual
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$603.00K	USD	Annual
Net income	`NetIncomeLoss`	$43.12M	USD	Annual
Net income	`NetIncomeLoss`	$40.30M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.84	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.78	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.84	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.42M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	51.49M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.64M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.43M	shares	Annual

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$43.12M	USD	Annual
Net income	`NetIncomeLoss`	$40.30M	USD	Annual
Depreciation, depletion and amortization of long-lived assets	`DepreciationDepletionAndAmortization`	$39.30M	USD	Annual
Depreciation, depletion and amortization of long-lived assets	`DepreciationDepletionAndAmortization`	$31.23M	USD	Annual
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$109.00K	USD	Annual
Amortization of deferred debt issuance costs	`AmortizationOfFinancingCosts`	$170.00K	USD	Annual
Loss on derivative instruments	`GainsLossesOnExtinguishmentOfDebt`	$-565.00K	USD	Annual
Loss on derivative instruments	`GainsLossesOnExtinguishmentOfDebt`	$-1.90M	USD	Annual
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$995.00K	USD	Annual
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$705.00K	USD	Annual
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$1.91M	USD	Annual
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$1.62M	USD	Annual
Equity-based compensation expense	`ShareBasedCompensation`	$957.00K	USD	Annual
Equity-based compensation expense	`ShareBasedCompensation`	$1.57M	USD	Annual
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$1.34M	USD	Annual
Earnings from investment in joint venture	`IncomeLossFromEquityMethodInvestments`	$603.00K	USD	Annual
Distribution of earnings from investment in joint venture	`EquityMethodInvestmentDividendsOrDistributions`	-	USD	Annual
Distribution of earnings from investment in joint venture	`EquityMethodInvestmentDividendsOrDistributions`	$540.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.31M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.00M	USD	Annual
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$5.00K	USD	Annual
Other non-cash adjustments	`OtherNoncashIncomeExpense`	-	USD	Annual
Contracts receivable including retainage, net	`IncreaseDecreaseInContractReceivableIncludingRetainageNet`	$-7.41M	USD	Annual
Contracts receivable including retainage, net	`IncreaseDecreaseInContractReceivableIncludingRetainageNet`	$20.59M	USD	Annual
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerAsset`	$2.70M	USD	Annual
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerAsset`	$-4.16M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.18M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$8.83M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-993.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-8.10M	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-7.99M	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-500.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.93M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.71M	USD	Annual
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$-7.62M	USD	Annual
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInContractWithCustomerLiability`	$2.59M	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.09M	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.12M	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$655.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$248.00K	USD	Annual
Net cash provided by operating activities, net of acquisitions	`NetCashProvidedByUsedInOperatingActivities`	$55.27M	USD	Annual
Net cash provided by operating activities, net of acquisitions	`NetCashProvidedByUsedInOperatingActivities`	$105.17M	USD	Annual
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.48M	USD	Annual
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$52.57M	USD	Annual
Acquisition of liquid asphalt terminal assets	`PaymentsToAcquireAsphaltLiquidTerminalAssets`	-	USD	Annual
Acquisition of liquid asphalt terminal assets	`PaymentsToAcquireAsphaltLiquidTerminalAssets`	$10.85M	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.04M	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.46M	USD	Annual
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.85M	USD	Annual
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$30.19M	USD	Annual
Distributions received from investment in joint venture	`ProceedsFromDivestitureOfInterestInJointVenture`	$2.50M	USD	Annual
Distributions received from investment in joint venture	`ProceedsFromDivestitureOfInterestInJointVenture`	$361.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.23M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-79.36M	USD	Annual
Proceeds from issuance of long-term debt, net of debt issuance costs and discount	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Proceeds from issuance of long-term debt, net of debt issuance costs and discount	`ProceedsFromIssuanceOfLongTermDebt`	$72.30M	USD	Annual
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$13.00M	USD	Annual
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$30.41M	USD	Annual
Payment of treasury stock purchase obligation	`PaymentsOfTreasuryStockPurchaseObligation`	$569.00K	USD	Annual
Payment of treasury stock purchase obligation	`PaymentsOfTreasuryStockPurchaseObligation`	-	USD	Annual
Proceeds from sale of stock	`ProceedsFromSaleOfTreasuryStock`	$3.00K	USD	Annual
Proceeds from sale of stock	`ProceedsFromSaleOfTreasuryStock`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.57M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$41.89M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$67.70M	USD	Annual
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-18.52M	USD	Annual
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.62M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$148.32M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.14M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$80.62M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$148.32M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$99.14M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$2.04M	USD	Annual
Cash paid for interest	`InterestPaidNet`	$2.64M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$9.12M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$9.90M	USD	Annual
Cash paid for operating lease liabilities	`OperatingLeasePayments`	-	USD	Annual
Cash paid for operating lease liabilities	`OperatingLeasePayments`	$3.23M	USD	Annual
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	-	USD	Annual
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$1.52M	USD	Annual
Property, plant and equipment financed with accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$904.00K	USD	Annual
Property, plant and equipment financed with accounts payable	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$2.76M	USD	Annual

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$343.55M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$385.19M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$299.47M	USD	Point-in-time
Stock option exercise	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.00K	USD	Annual
Equity-based compensation expense	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$1.57M	USD	Annual
Equity-based compensation expense	`StockIssuedDuringPeriodValueTreasuryStockReissued`	$957.00K	USD	Annual
Net income	`NetIncomeLoss`	$43.12M	USD	Annual
Net income	`NetIncomeLoss`	$40.30M	USD	Annual
Ending balance	`StockholdersEquity`	$343.55M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$385.19M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$299.47M	USD	Point-in-time

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