Segments (Tables)

12 Months Ended

Apr. 30, 2019

Segments

Schedule of segment results

	Year Ended April 30, 2019								April 30, 2019
					Depreciation and		Adjusted		Total
	Net Sales		Gross Profit		Amortization		EBITDA		Assets
	(in thousands)
Geographic divisions	$	3,090,314	$	994,981	$	114,558	$	293,190	$	2,125,518
Other		25,718		9,138		220		2,479		16,897
Corporate		—		—		2,681		—		7,139
	$	3,116,032	$	1,004,119	$	117,459	$	295,669	$	2,149,554

	Year Ended April 30, 2018								April 30, 2018
					Depreciation and		Adjusted		Total
	Net Sales		Gross Profit		Amortization		EBITDA		Assets
	(in thousands)
Geographic divisions	$	2,487,557	$	809,884	$	64,491	$	196,903	$	1,434,371
Other		23,912		8,692		242		2,355		12,854
Corporate		—		—		797		—		7,286
	$	2,511,469	$	818,576	$	65,530	$	199,258	$	1,454,511

	Year Ended April 30, 2017								April 30, 2017
					Depreciation and		Adjusted		Total
	Net Sales		Gross Profit		Amortization		EBITDA		Assets
	(in thousands)
Geographic divisions	$	2,298,871	$	750,564	$	68,001	$	186,155	$	1,376,655
Other		20,275		8,007		310		2,074		11,916
Corporate		—		—		929		—		4,694
	$	2,319,146	$	758,571	$	69,240	$	188,229	$	1,393,265

Reconciliation of Adjusted EBITDA to net income

	Year Ended April 30,
	2019		2018		2017
	(in thousands)
Net income	$	56,002	$	62,971	$	48,886
Interest expense		73,677		31,395		29,360
Write-off of debt discount and deferred financing fees		—		74		7,103
Interest income		(66)		(177)		(152)
Provision for income taxes		14,039		20,883		22,654
Depreciation expense		46,456		24,075		25,565
Amortization expense		71,003		41,455		43,675
Stock appreciation expense(a)		2,730		2,318		148
Redeemable noncontrolling interests(b)		1,188		1,868		3,536
Equity-based compensation(c)		3,906		1,695		2,534
Severance and other permitted costs(d)		8,152		581		(157)
Transaction costs (acquisitions and other)(e)		7,858		3,370		2,249
Gain on sale of assets		(525)		(509)		(338)
Management fee to related party(f)		—		—		188
Effects of fair value adjustments to inventory(g)		4,176		324		946
Change in fair value of financial instruments(h)		6,395		6,125		382
Secondary public offering costs(i)		—		1,525		1,385
Debt transaction costs(j)		678		1,285		265
Adjusted EBITDA	$	295,669	$	199,258	$	188,229

(a) Represents non‑cash expense related to stock appreciation rights agreements.

(b) Represents non‑cash compensation expense related to changes in the values of noncontrolling interests.

(c) Represents non‑cash equity‑based compensation expense related to the issuance of share-based awards.

(d) Represents severance expenses and other costs permitted in calculations under the ABL Facility and the First Lien Facility.

(e) Represents costs related to acquisitions paid to third parties.

(f) Represents management fees paid by us to AEA. Following our IPO, AEA no longer receives management fees from us.

(g) Represents the non‑cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value.

(h) Represents the mark‑to‑market adjustments for derivative financial instruments.

(i) Represents costs related to our secondary offerings paid to third-party advisors.

(j) Represents expenses paid to third-party advisors related to debt refinancing activities.

Schedule of net sales to external customers by main product lines

	Year Ended April 30,
	2019		2018		2017
	(in thousands)
Wallboard	$	1,272,068	$	1,109,552	$	1,058,400
Ceilings		451,695		387,360		341,007
Steel framing		506,805		411,630		374,151
Other products		885,464		602,927		545,588
Total net sales	$	3,116,032	$	2,511,469	$	2,319,146

Schedule of net sales by major geographic area

	Year Ended April 30,
	2019		2018		2017
	(in thousands)
United States	$	2,701,678	$	2,511,469	$	2,319,146
Canada		414,354		—		—
Total net sales	$	3,116,032	$	2,511,469	$	2,319,146

Schedule of long-lived assets by major geographic area

	April 30,
	2019		2018
	(in thousands)
United States	$	868,498	$	813,909
Canada		460,491		—
Total long-lived assets	$	1,328,989	$	813,909