Builders FirstSource, Inc. Revenue Disclosure
3. Revenue
The following table disaggregates our net sales by product category for the years ended December 31:
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2020 |
|
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2019 |
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|
2018 |
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(In thousands) |
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Lumber & lumber sheet goods |
|
$ |
3,076,376 |
|
|
$ |
2,251,580 |
|
|
$ |
2,902,155 |
|
|
Manufactured products |
|
|
1,640,460 |
|
|
|
1,449,550 |
|
|
|
1,392,043 |
|
|
Windows, doors & millwork |
|
|
1,629,179 |
|
|
|
1,542,924 |
|
|
|
1,445,858 |
|
|
Gypsum, roofing & insulation |
|
|
514,638 |
|
|
|
528,571 |
|
|
|
528,439 |
|
|
Siding, metal & concrete products |
|
|
773,640 |
|
|
|
712,644 |
|
|
|
697,744 |
|
|
Other building & product services |
|
|
924,581 |
|
|
|
795,162 |
|
|
|
758,532 |
|
|
Total net sales |
|
$ |
8,558,874 |
|
|
$ |
7,280,431 |
|
|
$ |
7,724,771 |
|
Information regarding disaggregation of net sales by segment is discussed in Note 15 to the condensed consolidated financial statements. Sales related to contracts with service elements represents less than 10% of the Company’s net sales for each period presented.
The timing of revenue recognition, billings and cash collections results in accounts receivable, unbilled receivables, contract assets and contract liabilities. Contract asset balances were not significant as of December 31, 2020 or December 31, 2019. Contract liabilities consist of deferred revenue and customer advances and deposits. Contract liability balances are included in accrued liabilities on our consolidated balance sheet and were $58.5 million and $38.6 million as of December 31, 2020 and December 31, 2019, respectively.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2020 | Feb 26, 2021 | Showing above |
| 2019 | Feb 21, 2020 | |
| 2018 | Mar 1, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.