Condensed Parent Company Financial Information

12 Months Ended

Apr. 30, 2017

Condensed Parent Company Financial Information

Condensed Parent Company Financial Information

18. Condensed Parent Company Financial Information

         On a standalone basis, the Company has no material assets or operations other than its ownership in GYP Holdings II Corp., which in turn has no material assets or operations other than its ownership in GYP Holdings III Corp. GYP Holdings III Corp. is the Lead Borrower under the ABL Facility and the Borrower under the Term Loan Facilities, all of which contain significant restrictions on the Company's ability to obtain funds from GYP Holdings III Corp. or any of GYP Holdings III Corp.'s subsidiaries through dividends, loans or advances. Accordingly, the following condensed financial information has been presented on a "Parent-only" basis.

         Under a "Parent-only" presentation, the Company's investments in its consolidated subsidiaries are presented under the equity method of accounting using the same accounting principles and policies described in the notes to the Consolidated Financial Statements.

         The following table presents the financial position of the Company as of April 30, 2017 and 2016, and the results of operations as of April 30, 2017, 2016 and 2015, respectively.

GMS Inc.
Condensed Parent Company Balance Sheets

	April 30,
	2017			2016
Investment in subsidiary	$	514,606		$	311,160
Total assets		514,606			311,160
Stockholders' equity:
Common stock, par value $0.01 per share, authorized 500,000,000 shares; 40,970,905 and 32,892,905 shares issued at April 30, 2017 and 2016, respectively		410			329
Preferred stock, par value $0.01 per share, authorized 50,000,000 shares; 0 shares issued at April 30, 2017 and April 30, 2016, respectively		—			—
Additional paid-in capital		488,459			334,244
Retained earnings (accumulated deficit)		26,621			(22,265	)
Accumulated other comprehensive loss		(884	)		(1,148	)
Total stockholders' equity	$	514,606		$	311,160

GMS Inc.
Condensed Parent Company Statements of Operations and Comprehensive Income (Loss)

	Years Ended April 30,
	2017		2016		2015
Net income (loss) in subsidiaries	$	48,886	$	12,564	$	(11,697	)
Net income (loss)	$	48,886	$	12,564	$	(11,697	)
Comprehensive income (loss)	$	49,150	$	11,406	$	(11,687	)
Weighted average shares outstanding:
Basic		40,260,405		32,799,098		32,450,401
Diluted		41,070,025		33,125,242		32,450,401
Net income (loss) per share
Basic	$	1.21	$	0.38	$	(0.36	)
Diluted	$	1.19	$	0.38	$	(0.36	)

         There were no cash flows for GMS Inc. for the years ended April 30, 2017, 2016 and 2015 as there were no dividends, loans or advances between GMS Inc. and its subsidiaries.

         At April 30, 2017, restricted net assets of the Company's consolidated subsidiaries approximated $513,100. As of April 30, 2017, 2016, and 2015 the Company's consolidated subsidiaries did not pay any cash dividends to the Company.