XML 13 R31.htm IDEA: XBRL DOCUMENT v3.19.3
Segments (Tables)
6 Months Ended
Oct. 31, 2019
Segments  
Schedule of segment results

    

Three Months Ended October 31, 2019

    

    

Depreciation and

Adjusted

Net Sales

Gross Profit

Amortization

EBITDA

(in thousands)

Geographic divisions

$

854,853

$

281,900

$

29,024

$

89,171

Other

7,076

 

2,593

 

55

734

Corporate

 

 

439

$

861,929

$

284,493

$

29,518

$

89,905

    

Three Months Ended October 31, 2018

    

    

Depreciation and

Adjusted

Net Sales

Gross Profit

Amortization

EBITDA

(in thousands)

Geographic divisions

$

827,198

$

265,815

$

30,062

$

86,450

Other

 

6,639

 

2,335

 

55

695

Corporate

 

 

 

670

$

833,837

$

268,150

$

30,787

$

87,145

    

Six Months Ended October 31, 2019

    

    

Depreciation and

Adjusted

Net Sales

Gross Profit

Amortization

EBITDA

(in thousands)

Geographic divisions

$

1,695,010

$

553,254

$

57,956

$

172,254

Other

 

14,095

 

4,893

 

108

1,239

Corporate

 

 

 

729

$

1,709,105

$

558,147

$

58,793

$

173,493

    

Six Months Ended October 31, 2018

    

    

    

Depreciation and

Adjusted

Net Sales

Gross Profit

Amortization

EBITDA

(in thousands)

Geographic divisions

$

1,598,748

$

508,390

$

55,916

$

161,044

Other

 

13,233

 

4,576

 

113

 

1,373

Corporate

 

 

 

1,080

 

$

1,611,981

$

512,966

$

57,109

$

162,417

Reconciliation of Adjusted EBITDA to net income

Three Months Ended

Six Months Ended

October 31, 

October 31, 

    

2019

    

2018

2019

2018

(in thousands)

Net income

$

29,138

$

24,912

$

53,958

$

33,562

Interest expense

 

17,559

 

19,182

 

35,836

 

35,370

Write-off of debt discount and deferred financing fees

707

707

Interest income

 

(6)

 

203

 

(18)

 

(33)

Provision for income taxes

 

7,927

 

8,059

 

15,517

 

10,895

Depreciation expense

 

12,592

 

11,538

 

25,014

 

22,148

Amortization expense

 

16,926

 

19,249

 

33,779

 

34,961

Stock appreciation expense(a)

1,267

649

1,327

983

Redeemable noncontrolling interests(b)

 

(18)

 

282

 

644

 

813

Equity-based compensation(c)

 

2,315

 

1,094

 

3,710

 

1,498

Severance and other permitted costs(d)

 

1,394

 

882

 

1,948

 

5,718

Transaction costs (acquisitions and other)(e)

 

327

 

841

 

1,299

 

5,594

Gain on sale of assets

 

(586)

 

(173)

 

(742)

 

(294)

Effects of fair value adjustments to inventory(f)

 

 

 

151

 

4,129

Change in fair value of financial instruments(g)

 

 

376

 

 

6,395

Secondary public offering costs(h)

363

363

Debt transaction costs(i)

51

678

Adjusted EBITDA

$

89,905

$

87,145

$

173,493

$

162,417

(a)Represents non-cash expense related to stock appreciation rights agreements.
(b)Represents non-cash compensation expense related to changes in the fair 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 the non-cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value.
(g)Represents the mark-to-market adjustments for derivative financial instruments.
(h)Represents costs paid to third-party advisors related to secondary offerings of our common stock.
(i)Represents costs paid to third-party advisors related to debt refinancing activities.
Schedule of net sales to external customers by main product lines

Three Months Ended 

Six Months Ended

October 31, 

October 31, 

2019

2018

2019

    

2018

(in thousands)

Wallboard

    

$

350,618

    

$

334,688

    

$

692,213

$

652,423

Ceilings

 

122,807

 

 

118,376

 

 

251,917

 

 

234,231

Steel framing

 

136,159

 

 

135,760

 

 

267,988

 

 

264,872

Other products

 

252,345

 

 

245,013

 

 

496,987

 

 

460,455

Total net sales

$

861,929

 

$

833,837

 

$

1,709,105

 

$

1,611,981

Schedule of net sales by major geographic area

Three Months Ended

Six Months Ended

October 31,

October 31,

    

2019

    

2018

2019

    

2018

(in thousands)

United States

$

744,134

    

$

706,347

$

1,475,477

    

$

1,397,078

Canada

 

117,795

 

 

127,490

 

233,628

 

 

214,903

Total net sales

$

861,929

 

$

833,837

$

1,709,105

 

$

1,611,981

Schedule of long-lived assets by major geographic area

October 31, 

April 30, 

    

2019

    

2019

(in thousands)

United States

$

259,589

$

249,857

Canada

 

32,547

 

 

32,492

Total property and equipment, net

$

292,136

 

$

282,349