Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Significant Accounting Policies [Line Items]

Schedule of Net Sales by Product Category

The following table disaggregates our net sales by product category for the years ended December 31:

(in thousands)	2021		2020		2019
	(in thousands)
Lumber & lumber sheet goods	$	8,412,210	$	3,076,376	$	2,251,580
Manufactured products		4,333,283		1,640,460		1,449,550
Windows, doors & millwork		3,332,005		1,629,179		1,542,924
Siding, metal & concrete products		1,531,058		773,640		712,644
Gypsum, roofing & insulation		656,383		514,638		528,571
Other building products & services		1,628,917		924,581		795,162
Net sales	$	19,893,856	$	8,558,874	$	7,280,431

Reconciliation of Accounts Receivable - Classified

The following table shows the changes in our allowance for credit losses (in thousands):

	2021			2020			2019
Balance at January 1,	$	5,774		$	5,936		$	6,195
Additions		20,451			4,720			5,811
Deductions (write-offs, net of recoveries)		(4,464	)		(4,882	)		(6,070	)
Balance at December 31,	$	21,761		$	5,774		$	5,936

Rollforward of Allowance for Credit Losses

Accounts receivable consisted of the following at December 31 (in thousands):

	2021			2020
Accounts receivable	$	1,748,306		$	840,390
Less: allowances for returns and credit losses		(39,510	)		(17,637	)
Accounts receivable, net	$	1,708,796		$	822,753

Summary of Calculation of Basic And Diluted EPS

The table below presents the calculation of basic and diluted EPS for the years ended December 31:

	Years Ended December 31,
	2021		2020		2019
	(in thousands, except per share amounts)
Numerator:
Net income	$	1,725,416	$	313,537	$	221,809
Denominator:
Weighted average shares outstanding, basic		201,839		116,611		115,713
Dilutive effect of options and RSUs		1,631		1,306		1,312
Weighted average shares outstanding, diluted		203,470		117,917		117,025
Net income per share:
Basic	$	8.55	$	2.69	$	1.92
Diluted	$	8.48	$	2.66	$	1.90
Antidilutive and contingent RSUs excluded from diluted EPS	225		291		402

Market Condition Based Restricted Stock Unit Grants

Significant Accounting Policies [Line Items]

Schedule of Share-based Payment Award, Restricted Stock Unit, Valuation Assumptions

The fair value of RSU awards which are subject to or contain market conditions is estimated on the date of grant using the Monte Carlo simulation model with the following weighted average assumptions for the year ended December 31:

	2021			2020			2019
Expected volatility (company)		51.3	%		40.0	%		38.3	%
Expected volatility (peer group median)		42.9	%		40.0	%		33.2	%
Correlation between the company and peer group median		0.6			0.5			0.5
Expected dividend yield		0.0	%		0.0	%		0.0	%
Risk-free rate		0.3	%		0.9	%		2.6	%