0001628280-21-003085 | 10-K | XBRL Viewer | Installed Building Products INC

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 17, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36307
Entity Registrant Name	Installed Building Products, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3707650
Entity Address, Address Line One	495 South High Street
Entity Address, Address Line Two	Suite 50
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43215
City Area Code	(614)
Local Phone Number	221-3399
Title of 12(b) Security	Common Stock,
Trading Symbol	IBP
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,558,925,593
Entity Common Stock, Shares Outstanding		29,622,998
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement relating to the 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2020.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001580905

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 231,520	$ 177,889
Investments	0	37,961
Accounts receivable (less allowance for credit losses of $8,789 and $6,878 at December 31, 2020 and 2019, respectively)	266,566	244,519
Inventories	77,179	74,606
Prepaid expenses and other current assets	48,678	46,974
Total current assets	623,943	581,949
Non-current assets
Property and equipment, net	104,022	106,410
Operating lease right-of-use assets	53,766	45,691
Goodwill	216,870	195,652
Customer relationships, net	171,393	153,562
Other intangibles, net	62,889	53,616
Other non-current assets	17,682	16,215
Total assets	1,187,676	1,099,479
Current liabilities
Current maturities of long-term debt	23,355	24,164
Current maturities of operating lease obligations	18,758	15,459
Current maturities of finance lease obligations	2,073	2,747
Accounts payable	101,462	98,871
Accrued compensation	45,876	33,636
Other current liabilities	44,951	39,272
Total current liabilities	236,475	214,149
Long-term debt	541,957	545,031
Operating lease obligations	34,413	29,785
Finance lease obligations	2,430	3,597
Deferred income taxes	35	9,175
Other long-term liabilities	53,184	47,711
Total liabilities	868,494	849,448
Commitments and contingencies (Note 16)
Stockholders’ equity
Preferred Stock; $0.01 par value: 5,000,000 authorized and 0 shares issued and outstanding at December 31, 2020 and 2019, respectively	0	0
Common stock; $0.01 par value: 100,000,000 authorized, 32,871,504 and 32,723,972 issued and 30,016,340 and 29,915,611 shares outstanding at December 31, 2019 and 2018, respectively	331	329
Additional paid in capital	199,847	190,230
Retained earnings	269,420	173,371
Treasury stock; at cost: 3,518,607 and 2,855,164 shares at December 31, 2020 and 2019, respectively	(141,653)	(106,756)
Accumulated other comprehensive loss	(8,763)	(7,143)
Total stockholders’ equity	319,182	250,031
Total liabilities and stockholders’ equity	1,187,676	1,099,479
Customer relationships
Non-current assets
Customer relationships, net	$ 108,504	$ 99,946

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Allowance for doubtful accounts	$ 8,789	$ 6,878
Stockholders’ equity
Preferred stock, par value in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	33,141,879	32,871,504
Common stock, shares outstanding (in shares)	29,623,272	30,016,340
Treasury Stock (in shares)	3,518,607	2,855,164

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net revenue	$ 1,653,225	$ 1,511,629	$ 1,336,432
Cost of sales	1,143,251	1,076,809	964,841
Gross profit	509,974	434,820	371,591
Operating expenses
Selling	81,613	75,016	67,105
Administrative	237,959	214,134	185,850
Amortization	28,535	24,510	25,419
Operating income	161,867	121,160	93,217
Other expense
Interest expense, net	30,291	28,104	20,496
Other	399	451	535
Income before income taxes	131,177	92,605	72,186
Income tax provision	33,938	24,446	17,438
Net income	97,239	68,159	54,748
Other comprehensive loss, net of tax:
Net change in cash flow hedges, net of tax	(1,620)	(6,712)	(1,050)
Comprehensive income	$ 95,619	$ 61,447	$ 53,698
Basic net income per share (in USD per share)	$ 3.30	$ 2.29	$ 1.76
Diluted net income per share (in USD per share)	$ 3.27	$ 2.28	$ 1.75
Weighted average shares outstanding:
Basic (in shares)	29,504,115	29,752,644	31,107,231
Diluted (in shares)	29,717,609	29,873,106	31,229,558

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Unrealized loss on cash flow hedge, net of tax benefit	$ 550	$ 2,225	$ 284

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjustment
BALANCE, Shares at Dec. 31, 2017			32,524,934
BALANCE at Dec. 31, 2017	$ 210,528	$ 2,142	$ 325	$ 174,043	$ 48,434	$ 2,030		$ 507	$ 112
BALANCE, Treasury Stock, Shares at Dec. 31, 2017							(662,788)
BALANCE, Treasury Stock, Value at Dec. 31, 2017							$ (12,781)
Net income	54,748				54,748
Issuance of common stock awards to employees (in shares)			194,093
Issuance of common stock awards to employees	0		$ 2	(2)
Surrender of common stock awards by employees (in shares)							(43,871)
Surrender of common stock awards	(2,282)						$ (2,282)
Share-based compensation expense	7,598			7,598
Share-based compensation issued to directors (in shares)			4,945
Share-based compensation issued to directors	176			176
Common stock repurchase (in shares)							(2,101,702)
Common stock repurchase	(89,362)						$ (89,362)
Net change in cash flow hedges, net of tax	(1,050)							(1,050)
BALANCE at Dec. 31, 2018	182,498		$ 327	181,815	105,212			(431)
BALANCE, Shares at Dec. 31, 2018			32,723,972
BALANCE, Treasury Stock, Value at Dec. 31, 2018							$ (104,425)
BALANCE, Treasury Stock, Shares at Dec. 31, 2018							(2,808,361)
Net income	68,159				68,159
Issuance of common stock awards to employees (in shares)			139,862
Issuance of common stock awards to employees	0		$ 2	(2)
Surrender of common stock awards by employees (in shares)							(46,803)
Surrender of common stock awards	(2,331)						$ (2,331)
Share-based compensation expense	8,057			8,057
Share-based compensation issued to directors (in shares)			7,670
Share-based compensation issued to directors	360			360
Net change in cash flow hedges, net of tax	(6,712)							(6,712)
BALANCE at Dec. 31, 2019	$ 250,031	$ (1,190)	$ 329	190,230	173,371	$ (1,190)		(7,143)
BALANCE, Shares at Dec. 31, 2019	32,871,504		32,871,504
BALANCE, Treasury Stock, Value at Dec. 31, 2019	$ (106,756)						$ (106,756)
BALANCE, Treasury Stock, Shares at Dec. 31, 2019	(2,855,164)						(2,855,164)
Net income	$ 97,239				97,239
Issuance of common stock awards to employees (in shares)			264,004
Issuance of common stock awards to employees	0		$ 2	(2)
Surrender of common stock awards by employees (in shares)							(30,223)
Surrender of common stock awards	(973)						$ (973)
Share-based compensation expense	9,286			9,286
Share-based compensation issued to directors (in shares)			6,371
Share-based compensation issued to directors	333			333
Common stock repurchase (in shares)							(633,220)
Common stock repurchase	(33,924)						$ (33,924)
Net change in cash flow hedges, net of tax	(1,620)							(1,620)
BALANCE at Dec. 31, 2020	$ 319,182		$ 331	$ 199,847	$ 269,420			$ (8,763)
BALANCE, Shares at Dec. 31, 2020	33,141,879		33,141,879
BALANCE, Treasury Stock, Value at Dec. 31, 2020	$ (141,653)						$ (141,653)
BALANCE, Treasury Stock, Shares at Dec. 31, 2020	(3,518,607)						(3,518,607)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net income	$ 97,239	$ 68,159	$ 54,748
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization of property and equipment	41,339	38,862	33,306
Amortization of operating lease right-of-use assets	18,122	15,691	0
Amortization of intangibles	28,535	24,510	25,419
Amortization of deferred financing costs and debt discount	1,332	1,184	1,164
Provision for credit losses	4,444	4,312	2,630
Write-off of debt issuance costs	0	3,725	1,164
Gain on sale of property and equipment	(786)	(140)	(1,098)
Noncash stock compensation	10,826	8,727	7,839
Deferred income taxes	(8,475)	5,341	470
Amortization of terminated interest rate swap	1,326	0	0
Changes in assets and liabilities, excluding effects of acquisitions
Accounts receivable	(10,489)	(29,582)	(30,166)
Inventories	187	(10,597)	(15,717)
Other assets	(870)	(16,959)	(4,552)
Accounts payable	(203)	947	8,146
Income taxes receivable/payable	4,296	(3,944)	10,273
Other liabilities	(6,034)	12,831	3,007
Net cash provided by operating activities	180,789	123,067	96,633
Cash flows from investing activities
Purchases of investments	(776)	(52,795)	(22,818)
Maturities of short term investments	38,693	25,061	42,782
Purchases of property and equipment	(33,587)	(50,167)	(35,232)
Acquisitions of businesses, net of cash acquired of $0, $334 and $0 in 2020, 2019 and 2018, respectively	(76,446)	(51,706)	(57,740)
Proceeds from sale of property and equipment	1,187	761	1,958
Other	(6,865)	(2,887)	(3,019)
Net cash used in investing activities	(77,794)	(131,733)	(74,069)
Cash flows from financing activities
Proceeds from senior notes (Note 8)	0	300,000	0
Proceeds from term loan (Note 8)	0	0	100,000
Payments on term loan (Note 8)	0	(195,750)	(2,750)
Proceeds from vehicle and equipment notes payable	21,290	33,090	25,443
Debt issuance costs	(157)	(6,691)	(1,992)
Principal payments on long-term debt	(26,685)	(21,316)	(14,130)
Principal payments on finance lease obligations	(2,632)	(4,157)	(5,604)
Acquisition-related obligations	(6,283)	(6,732)	(3,954)
Repurchase of common stock	(33,924)	0	(89,363)
Surrender of common stock awards by employees	(973)	(2,331)	(2,282)
Net cash (used in) provided by financing activities	(49,364)	96,113	5,368
Net change in cash and cash equivalents	53,631	87,447	27,932
Cash and cash equivalents at beginning of period	177,889	90,442	62,510
Cash and cash equivalents at end of period	231,520	177,889	90,442
Supplemental disclosures of cash flow information
Interest	26,324	20,943	20,075
Income taxes, net of refunds	37,072	22,633	4,950
Supplemental disclosure of noncash activities
Right-of-use assets obtained in exchange for operating lease obligations	26,001	18,907	0
Termination of operating lease obligations and right-of-use assets	0	(2,946)	0
Property and equipment obtained in exchange for finance lease obligations	1,000	2,809	2,208
Seller obligations in connection with acquisition of businesses	14,086	7,543	7,540
Unpaid purchases of property and equipment included in accounts payable	$ 1,013	$ 1,903	$ 1,773

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from investing activities
Cash acquired, net	$ 0	$ 334	$ 0

Organization	12 Months Ended
Organization	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Installed Building Products (“IBP”), a Delaware corporation formed on October 28, 2011, and its wholly-owned subsidiaries (collectively referred to as the “Company,” and “we,” “us” and “our”) primarily install insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company operates in over 190 locations and its corporate office is located in Columbus, Ohio. We have one operating segment and a single reportable segment. Substantially all of our sales are derived from the service-based installation of various products in the residential new construction, repair and remodel and commercial construction end markets from our national network of branch locations. Each of our branches has the capacity to serve all of our end markets. See Note 3, Revenue Recognition, for information on our revenues by product and end market. The COVID-19 pandemic has caused significant volatility, uncertainty and economic disruption. Many public health organizations and international, federal, state and local governments implemented measures to combat the spread of COVID-19 during portions of the year ended December 31, 2020 with some of these restrictions still in place as of the date of filing of this Annual Report on Form 10-K ("Form 10-K"). Some of these measures include restrictions on movement such as quarantines, “stay-at-home” orders and social distancing ordinances and restricting or prohibiting outright some or all forms of commercial and business activity. We do not believe the various orders and restrictions or COVID-19 itself significantly impacted our business during the year ended December 31, 2020.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Significant Accounting Policies

SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying consolidated financial statements include all of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. We elected to early adopt the Securities and Exchange Commission's ("SEC") amendments to Item 302(a) to replace the requirement for quarterly tabular disclosure with a principles-based requirement for material retrospective changes. There were no such retrospective changes affecting the Consolidated Income Statements for the years ended December 31, 2020 or 2019, respectively. We expanded the presentation of our intangibles, net to separately present our customer relationships intangible asset on the Consolidated Balance Sheets in this Form 10-K. This expansion resulted in the presentation of our $99.9 million balance within Customer relationships, net at December 31, 2019 and a corresponding decrease in Other intangibles, net as compared to our previous 10-K.

Use of Estimates

Preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgements and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Management believes the accounting estimates are appropriate and reasonably determined; however, due to the inherent uncertainties in making these estimates, actual amounts could differ from such estimates.

Cash and Cash Equivalents

We consider all highly-liquid investments purchased with original term to maturity of three months or less to be cash equivalents. Substantially all cash is held in banks providing FDIC coverage of $0.25 million per depositor.

Revenue and Cost Recognition

Revenue is measured according to Accounting Standards Codification ("ASC") 606, “Revenue from Contracts with Customers.” Our revenues are derived primarily through contracts with customers whereby we install insulation and other complementary building products and are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We

account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. An insignificant portion of our sales, primarily retail sales, is accounted for on a point-in-time basis when the sale occurs, adjusted accordingly for any return provisions. We do offer assurance-type warranties on certain of our installed products and services that do not represent a separate performance obligation and, as such, do not impact the timing or extent of revenue recognition.

For contracts that are not complete at the reporting date, we recognize revenue over time utilizing a cost-to-cost input method as we believe this represents the best measure of when goods and services are transferred to the customer. When this method is used, we estimate the costs to complete individual contracts and record as revenue that portion of the total contract price that is considered complete based on the relationship of costs incurred to date to total anticipated costs. Under the cost-to-cost method, the use of estimated costs to complete each contract is a significant variable in the process of determining recognized revenue, requires judgment and can change throughout the duration of a contract due to contract modifications and other factors impacting job completion. The costs of earned revenue include all direct material and labor costs and those indirect costs related to contract performance, such as indirect labor, supplies, tools and repairs. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined.

Our long-term contracts can be subject to modification to account for changes in contract specifications and requirements. We consider contract modifications to exist when the modification either creates new, or changes the existing, enforceable rights and obligations. Most of our contract modifications are for goods or services that are not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as if they were part of that existing contract. The effect of a contract modification on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis.

Payment terms typically do not exceed 30 days for short-term contracts and typically do not exceed 60 days for long-term contracts with customers. All contracts are billed either contractually or as work is performed. Billing on our long-term contracts occurs primarily on a monthly basis throughout the contract period whereby we submit invoices for customer payment based on actual or estimated costs incurred during the billing period. On certain of our long-term contracts the customer may withhold payment on an invoice equal to a percentage of the invoice amount, which will be subsequently paid after satisfactory completion of each installation project. This amount is referred to as retainage and is common practice in the construction industry, as it allows for customers to ensure the quality of the service performed prior to full payment. Retainage receivables are classified as current or long-term assets based on the expected time to project completion. See "Accounts Receivable" below for further discussion of our retainage receivables.

We generally expense sales commissions and other incremental costs of obtaining a contract when incurred because the amortization period is usually one year or less. Sales commissions are recorded within selling expenses on the Consolidated Statements of Operations and Comprehensive Income.

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Derivative Instruments and Hedging Activities

We record all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged forecasted transactions in a cash flow hedge. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. See Note 11, Derivatives and Hedging Activities, for additional information on our accounting policy for derivative instruments and hedging activities.

Investment Policy

Marketable securities with original maturities longer than three months but less than one year from the settlement date are classified as investments within current assets. These investments would consist of highly liquid investment grade instruments primarily including corporate bonds and commercial paper. Investments for which we have the ability and positive intent to hold to maturity are carried at amortized cost. The difference between the acquisition costs and face values of held-to-maturity investments is amortized over the remaining term of the investments and added to or subtracted from the acquisition cost and interest income. As of December 31, 2020, we held no such investments.

Business Combinations

The purchase price for business combinations is allocated to the estimated fair values of acquired tangible and intangible assets, including goodwill and assumed liabilities, where applicable. Additionally, we recognize customer relationships, trademarks and trade names, backlog and non-competition agreements as identifiable intangible assets. These assets are recorded at fair value as of the transaction date. The fair value of these intangibles is determined primarily using the income approach and using current industry information which involves significant unobservable inputs (Level 3 inputs). These inputs include projected sales, margin and tax rate.

At times, the total purchase price for a business combination could be less than the estimated fair values of acquired tangible and intangible assets. In these cases, we record a gain on bargain purchase within other expenses in the Consolidated Statements of Operations and Comprehensive Income rather than goodwill in accordance with U.S. GAAP.

Accounts Receivable

We account for trade receivables based on amounts billed to customers. Past due receivables are determined based on contractual terms. We do not accrue interest on any of our trade receivables.

Retainage receivables represent the amount retained by our customers to ensure the quality of the installation and is received after satisfactory completion of each installation project. Management regularly reviews aging of retainage receivables and changes in payment trends and records an allowance when collection of amounts due are considered at risk. Amounts retained by project owners under construction contracts and included in accounts receivable were $41.7 million and $33.4 million as of December 31, 2020 and 2019, respectively. In addition, as of December 31, 2020, $0.3 million of retainage receivables were recorded in other long-term assets.

On January 1, 2020, we adopted the new accounting standard ASC 326, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments,” using the modified retrospective approach. ASC 326 replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables, retainage receivables and contract assets (unbilled receivables). See Note 4, Credit Losses, for the detailed credit loss policy.

Concentration of Credit Risk

Credit risk is our risk of financial loss from the non-performance of a contractual obligation on the part of our counterparty. Such risk arises principally from our receivables from customers and cash and bank balances. Substantially all of our trade accounts receivable are from entities engaged in residential and commercial construction. We perform periodic credit evaluations of our customers’ financial condition. The general credit risk of our counterparties is not considered to be significant. In addition, no individual customer made up more than 3% of accounts receivable or 5% of net revenue for the years ended December 31, 2020, 2019 and 2018.

Inventories

Inventories consist of insulation, waterproofing materials, fireproofing and fire-stopping materials, garage doors, rain gutters, window blinds, shower doors, mirrors, closet shelving and other products. We value inventory at each balance sheet date to ensure that it is carried at the lower of cost or net realizable value with cost determined using the first-in, first-out (“FIFO”) method. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal and transportation. As of December 31, 2020 and 2019, substantially all inventory was finished goods. Inventory provisions are recorded to reduce inventory to the lower of cost or net realizable value for obsolete or slow moving inventory based on assumptions about future demand and marketability of products, the impact of new product introductions,

inventory levels and turns, product spoilage, and specific identification of items such as product discontinuance, engineering/material changes, or regulatory-related changes.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation. We provide for depreciation and amortization of property and equipment using the straight-line method over the expected useful lives of the assets. Expected useful lives of property and equipment vary but generally are the shorter of lease life or five years for vehicles and leasehold improvements, three to five years for furniture, fixtures and equipment and 30 years for buildings.

Major renewals and improvements are capitalized. Maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is recorded.

Goodwill

Goodwill results from business combinations and represents the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. On January 1, 2020, we adopted ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” This ASU addresses concerns over the cost and complexity of the two-step goodwill impairment test and removes the second step. Annually, on October 1, or if conditions indicate an earlier review is necessary, we perform a one-step quantitative test to determine if it is more likely than not that the fair value of the reporting unit is less than its carrying amount. The estimate of the reporting unit’s fair value is determined by weighting a discounted cash flow model and a market-related model using current industry information that involve significant unobservable inputs (Level 3 inputs). In determining the estimated future cash flow, we consider and apply certain estimates and judgments, including current and projected future levels of income based on management’s plans, business trends, prospects, market and economic conditions and market-participant considerations. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit.

Impairment of Other Intangible and Long-Lived Assets

We review long-lived assets and intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of an asset and its eventual disposition are less than its carrying amount. When impairment is identified, the carrying amount of the asset is reduced to its estimated fair value. Assets to be disposed of are recorded at the lower of net book value or fair net realizable value less cost to sell at the date management commits to a plan of disposal. There was no impairment loss for the years ended December 31, 2020, 2019, and 2018 .

Other Liabilities

Our workers’ compensation insurance program, for a significant portion of our business, is considered a high deductible program whereby we are responsible for the cost of claims under approximately $0.8 million. Our general liability insurance program is considered a high retention program whereby we are responsible for the cost of claims up to approximately $2.0 million, subject to an aggregate cap of $8.0 million. Our vehicle liability insurance program is considered a high deductible program whereby we are responsible for the cost of claims under approximately $1.0 million. In each case, if we do not pay these claims, our insurance carriers are required to make these payments to the claimants on our behalf. The liabilities represent our best estimate of our costs, using generally accepted actuarial reserving methods, of the ultimate obligations for reported claims plus those incurred but not reported for all claims incurred through December 31, 2020 and 2019. We establish case reserves for reported claims using case-basis evaluation of the underlying claims data and we update as information becomes

known. We regularly monitor the potential for changes in estimates, evaluate our insurance accruals and adjust our recorded provisions.

The assumptions underlying the ultimate costs of existing claim losses are subject to a high degree of unpredictability, which can affect the liability recorded for such claims. For example, variability in inflation rates of health care costs inherent in workers’ compensation claims can affect the ultimate costs. Similarly, changes in legal trends and interpretations, as well as a change in the nature and method of how claims are settled, can affect ultimate costs. Our estimates of liabilities incurred do not anticipate significant changes in historical trends for these variables and any changes could have a considerable effect on future claim costs and currently recorded liabilities.

We carry insurance for a number of risks, including, but not limited to, workers’ compensation, general liability, vehicle liability, property and our obligation for employee-related health care benefits. Liabilities relating to claims associated with these risks are estimated by considering historical claims experience, including frequency, severity, demographic factors and other actuarial assumptions. In estimating our liability for such claims, we periodically analyze our historical trends, including loss development, and apply appropriate loss development factors to the incurred costs associated with the claims with the assistance of external actuarial consultants. While we do not expect the amounts ultimately paid to differ significantly from our estimates, our reserves and corresponding expenses could be affected if future claim experience differs significantly from historical trends and actuarial assumptions.

Advertising Costs

Advertising costs are generally expensed as incurred. Advertising expense was approximately $3.9 million, $3.9 million and $3.8 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in selling expense on the Consolidated Statements of Operations and Comprehensive Income.

Deferred Financing Costs

Deferred financing costs and debt issuance costs combined, totaling $7.0 million and $8.2 million, net of accumulated amortization as of December 31, 2020 and 2019, respectively, are amortized over the term of the related debt on a straight-line basis which approximates the effective interest method. The deferred financing costs are included in other non-current assets while the debt issuance costs are included in long-term debt on the Consolidated Balance Sheets as of December 31, 2020 and 2019, respectively. The related amortization expense of these costs combined was $1.3 million, $1.2 million and $1.2 million and is included in interest expense, net on the Consolidated Statements of Operations and Comprehensive Income for the years ended December 31, 2020, 2019 and 2018, respectively.

We wrote off $3.3 million in previously capitalized loan costs during the year ended December 31, 2019. In addition, we expensed loan costs of approximately $0.4 million and $1.1 million for the years ended December 31, 2019 and 2018, respectively, associated with our credit facilities because they did not meet the requirements for capitalization. We had no such write offs or expenses during the year ended December 31, 2020. These amounts are included in interest expense, net on the Consolidated Statements of Operations and Comprehensive Income. We also had $0.2 million in new costs incurred during the year ended December 31, 2020 associated with the debt-related financing transactions that occurred in December 2019. The deferred financing costs are included in other non-current assets while the debt issuance costs are included in long-term debt on the Consolidated Balance Sheets. These costs are amortized over the term of the related debt on a straight-line basis which approximates the effective interest method.

For additional information on our debt instruments, see Note 8, Long-Term Debt.

Leases

On January 1, 2019, we adopted ASC 842, “Leases,” using the modified retrospective approach which requires substantially all leases, with the exception of leases with a term of one year or less, to be recorded on the Condensed Balance Sheet as a lease liability measured as the present value of the future lease payments with a corresponding right-of-use asset. ASC 842 also requires disclosures designed to give financial statement users information on the amount, timing and uncertainty of cash flows.

We determine if an arrangement is a lease at inception. Most of our operating leases do not provide an implicit rate so we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of

future payments. Leases with an initial term of 12 months or less are not recorded on the balance sheet as we recognize lease expense for these leases on a straight-line basis over the lease term.

We elected the package of practical expedients for the adoption of ASC 842 available for expired or existing contracts, which allowed us to carryforward our historical assessments of whether contracts are or contain leases, lease classification tests and treatment of initial direct costs. We also elected to not separate lease components from non-lease components for all fixed payments, and we exclude variable lease payments in the measurement of right-of-use assets and lease obligations.

Most lease agreements include one or more renewal options, all of which are at our sole discretion. Generally, future renewal options that have not been executed as of the balance sheet date are excluded from right-of-use assets and related lease liabilities. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Some of our vehicle lease agreements include provisions for residual value guarantees and any expected payment is included in our lease liability.

Share-Based Compensation

Our share-based compensation program is designed to attract and retain employees while also aligning employees’ interests with the interests of our stockholders. Restricted stock awards are periodically granted to certain employees, officers and non-employee members of our board of directors under the stockholder-approved 2014 Omnibus Incentive Plan.

Certain of our stock awards are deemed to be equity-based with a service condition and do not contain a market or performance condition with the exception of performance-based awards granted to certain officers and performance-based stock units. Fair value of the non-performance-based awards to employees and officers is measured at the grant date and amortized to expense over the vesting period of the awards using the straight-line attribution method for all service-based awards with a graded vesting feature. This fair value is reduced by assumed forfeitures and adjusted for actual forfeitures until vesting. We also issue performance-based stock awards to certain officers under our 2014 Omnibus Incentive Plan. The performance-based compensation expense is recorded over the requisite service period using the graded-vesting method for the entire award. Performance-based stock awards are accounted for at fair value at date of grant. We also periodically grant performance-based stock units to certain employees under the stockholder-approved 2014 Omnibus Incentive Plan. These units convert to shares upon meeting time- and performance-based requirements.

Compensation expense for performance-based stock units is recorded based on an assessment each reporting period of the probability that certain performance goals will be met during the contingent vesting period. If performance goals are not probable to occur, no compensation expense will be recognized. If performance goals that were previously deemed probable are not or are not expected to be met, the previously recognized compensation cost related to such performance goals will be reversed. Employees and officers are subject to tax at the vesting date based on the market price of the shares on that date, or on the grant date if an election is made.

Income Taxes

We account for income taxes using the asset and liability method. Under this method, the amount of taxes currently payable or refundable are accrued and deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences that currently exist between the tax basis and financial reporting basis of our assets and liabilities.

Valuation allowances are established against deferred tax assets when it is more likely than not that the realization of those deferred tax assets will not occur. In evaluating our ability to recover our deferred tax assets within the jurisdiction from which they arise, we consider all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, the ability to produce future taxable income, prudent and feasible tax planning strategies and recent financial operations. In projecting future taxable income, we factor in historical results and changes in accounting policies and incorporate assumptions, including the amount of future federal and state pretax operating income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimates we use to manage the underlying businesses.

Deferred tax assets and liabilities are measured using the enacted tax rates in effect in the years when those temporary differences are expected to reverse. The effect on deferred taxes from a change in tax rate is recognized through operations in the period that includes the enactment date of the change. Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future.

A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more likely than not recognition threshold to be recognized.

We recognize tax liabilities for uncertain tax positions and adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Liabilities related to uncertain tax positions are recorded in other long-term liabilities on the Consolidated Balance Sheets. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense and the effective tax rate in the period in which the new information becomes available. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense in the Consolidated Statements of Operations and Comprehensive Income. Accrued interest and penalties are recognized in other current liabilities on the Consolidated Balance Sheets.

Our income tax expense, deferred tax assets and liabilities and reserves for unrecognized tax benefits reflect management’s best assessment of estimated future taxes to be paid. We are subject to income taxes in the United States, which includes numerous state and local jurisdictions. Significant judgments and estimates are required in determining the income tax expense, deferred tax assets and liabilities and the reserve for unrecognized tax benefits.

Estimated Fair Value of Financial Instruments

See Note 10, Fair Value Measurements, for related accounting policies.

Recently Adopted Accounting Pronouncements

Standard

Effective Date

Adoption

ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)

January 1, 2020

This pronouncement and subsequently-issued amendments change the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. In addition, these amendments require the measurement of all expected credit losses for financial assets, including trade accounts receivable, held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. See Note 4, Credit Losses, for further information.

ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

January 1, 2020

This ASU addresses concerns over the cost and complexity of the two-step goodwill impairment test by removing the second step of the goodwill impairment test. Going forward, we will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit.

ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

January 1, 2020

This pronouncement amends ASC 820 to eliminate, add and modify certain disclosure requirements for fair value measurements. The adoption of this standard did not impact our financial statements or have a material effect on our disclosures.

ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)

Effective upon issuance

This pronouncement contains optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform. The provisions of ASC 848 must be applied at a Topic, Subtopic or Industry Subtopic for all transactions other than derivatives, which may be applied at a hedging relationship level. The relief granted in ASC 848 is applicable only to legacy contracts if the amendments made to the agreements are solely for reference rate reform activities. We elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. In January 2021, the Financial Accounting Standards Board ("FASB") issued ASU 2021-01, “Reference Rate Reform - Scope,” which clarified the scope and application of the original guidance. We continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Recently Issued Accounting Pronouncements Not Yet Adopted

We are currently evaluating the impact of certain ASUs on our Consolidated Financial Statements or Notes to Consolidated Financial Statements, which are described below:

Standard

Description

Effective Date

Effect on the financial statements or
other significant matters

ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

This pronouncement simplifies the accounting for income taxes by removing certain exceptions to the general principles of Topic 740 and improves the consistent application of GAAP by clarifying and amending existing guidance.

Annual periods beginning after December 15, 2020, including interim periods therein. Early adoption is permitted.

We do not expect ASU 2019-12 to have a material impact on our financial statements.

Revenue Recognition

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION

We disaggregate our revenue from contracts with customers by end market and product, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following tables present our revenues disaggregated by end market and product (in thousands):


	Years ended December 31,
	2020				2019				2018
Residential new construction	$	1,243,498	75	%	$	1,138,475	75	%	$	1,026,473	77	%
Repair and remodel	106,784		7	%	98,771		7	%	89,977		7	%
Commercial	302,943		18	%	274,383		18	%	219,982		16	%
Net revenues	$	1,653,225	100	%	$	1,511,629	100	%	$	1,336,432	100	%


	Years ended December 31,
	2020				2019				2018
Insulation	$	1,058,316	64	%	$	970,070	64	%	$	876,118	66	%
Waterproofing	122,962		7	%	112,075		7	%	97,683		7	%
Shower doors, shelving and mirrors	117,131		7	%	105,745		7	%	90,352		7	%
Garage doors	93,516		6	%	89,959		6	%	79,539		6	%
Rain gutters	62,672		4	%	49,788		3	%	44,203		3	%
Fireproofing/firestopping (1)	49,648		3	%	41,845		3	%	36,589		3	%
Window blinds	46,984		3	%	41,641		3	%	28,981		2	%
Other building products	101,996		6	%	100,506		7	%	82,967		6	%
Net revenues	$	1,653,225	100	%	$	1,511,629	100	%	$	1,336,432	100	%
(1) Combined with "Other building products" in previous years but shown separately to conform with updated disclosures

Contract Assets and Liabilities

Our contract assets consist of unbilled amounts typically resulting from sales under contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized, based on costs incurred, exceeds the amount billed to the customer. Our contract assets are recorded in other current assets in our Consolidated Balance Sheets. Our contract liabilities consist of customer deposits and billings in excess of revenue recognized, based on costs incurred and are included in other current liabilities in our Consolidated Balance Sheets.

Contract assets and liabilities related to our uncompleted contracts and customer deposits were as follows (in thousands):


	As of December 31,
	2020		2019
Contract assets	$	24,334	$	22,138
Contract liabilities	(8,965)		(8,888)

Uncompleted contracts were as follows (in thousands):


	As of December 31,
	2020		2019
Costs incurred on uncompleted contracts	$	169,544	$	110,818
Estimated earnings	90,737		61,185
Total	260,281		172,003
Less: Billings to date	240,665		155,599
Net under billings	$	19,616	$	16,404

Net under billings were as follows (in thousands):


	As of December 31,
	2020		2019
Costs and estimated earnings in excess of billings on uncompleted contracts (contract assets)	$	24,334	$	22,138
Billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities)	(4,718)		(5,734)
Net under billings	$	19,616	$	16,404

The difference between contract assets and contract liabilities as of December 31, 2020 compared to December 31, 2019 is primarily the result of timing differences between our performance of obligations under contracts and customer payments. During the year ended December 31, 2020, we recognized $7.8 million of revenue that was included in the contract liability balance at December 31, 2019. We did not recognize any impairment losses on our receivables and contract assets during the years ended December 31, 2020 and 2019.

Remaining performance obligations represent the transaction price of contracts for which work has not been performed and excludes unexercised contract options and potential modifications. As of December 31, 2020, the aggregate amount of the transaction price allocated to remaining uncompleted contracts was $78.5 million. We expect to satisfy remaining performance obligations and recognize revenue on substantially all of these uncompleted contracts over the next 18 months.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Credit Losses

12 Months Ended

Dec. 31, 2020

Credit Loss [Abstract]

Credit Losses

CREDIT LOSSES

On January 1, 2020 we adopted ASU 2016-13, “Financial Instruments – Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments” under the modified retrospective approach. ASC 326 replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables, retainage receivables and contract assets (unbilled receivables). Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts are not adjusted. The amendment requires entities to consider forward-looking information to estimate expected credit losses, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance.

Upon adoption of ASC 326, we recorded a cumulative effect adjustment to retained earnings of $1.2 million, net of $0.4 million of income taxes, on the opening consolidated balance sheet as of January 1, 2020. The adoption of the credit loss standard had no impact to cash from or used in operating, financing or investing activities on our consolidated cash flow statements.

Our expected loss allowance methodology for accounts receivable is developed using historical losses, current economic conditions and future market forecasts. We also perform ongoing evaluations of our existing and potential customer’s creditworthiness. Our expected loss allowance methodology for held-to-maturity investments is developed using historical losses, investment grade ratings and liquidity and maturity assessments. Based on our assessment using these factors, we did not record any allowance for credit losses related to our held-to-maturity investments.

To date, the COVID-19 pandemic has not yet had a material impact on the collectability of our existing trade receivables.

All amounts prior to January 1, 2020 in the following table were based on the incurred loss impairment model. Changes in our allowance for credit losses were as follows (in thousands):


January 1, 2018	$	4,805
Current period provision	2,630
Recoveries collected and other	675
Amounts written off	(3,025)
December 31, 2018	$	5,085
Current period provision	4,312
Recoveries collected and other	1,269
Amounts written off	(3,788)
December 31, 2019	$	6,878
Cumulative effect of change in accounting principle	1,600
Current period provision	4,444
Recoveries collected and other	503
Amounts written off	(4,636)
December 31, 2020	$	8,789

Investments	12 Months Ended
Investments	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Cash and cash equivalents include investments in money market funds that are valued based on the net asset value of the funds. The investments in these funds were $170.4 million and $99.2 million as of December 31, 2020 and 2019, respectively. All other investments are classified as held-to-maturity and consist of highly liquid instruments including primarily corporate bonds and commercial paper. As of December 31, 2019, the amortized cost of these investments equaled the net carrying value, which was $38.0 million. There were no held-to-maturity securities as of December 31, 2020. See Note 10, Fair Value Measurements, for additional information.

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consisted of the following (in thousands):


	As of December 31,
	2020		2019
Land	$	108	$	108
Buildings	3,901		3,901
Leasehold improvements	10,288		7,748
Furniture, fixtures and equipment	55,780		49,199
Vehicles and equipment	223,003		203,310
	293,080		264,266
Less: accumulated depreciation and amortization	(189,058)		(157,856)
	$	104,022	$	106,410

We recorded the following depreciation and amortization expense on our property and equipment, by income statement category (in thousands):


	Years ended December 31,
	2020		2019		2018
Cost of sales	$	39,011	$	36,922	$	31,526
Administrative	2,328		1,939		1,779

Property and equipment as of December 31, 2020 and 2019 of $98.0 million and $72.7 million, respectively, were fully depreciated but still being utilized in our business.

Goodwill and Intangibles

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles

GOODWILL AND INTANGIBLES

We anticipate that the COVID-19 pandemic could continue to have an impact on the homebuilding industry in general, as it could result in further business interruptions (government-mandated or otherwise) and could affect, among other factors, employment levels, consumer spending and consumer confidence, which could decrease demand for homes, adversely affecting our business. As such, we considered whether impairment indicators arose through the date of filing of this Form 10-K for our goodwill, long-lived assets and other intangible assets and concluded that no factors caused us to impair any asset group during the year ended December 31, 2020. While we ultimately concluded that our goodwill, long-lived assets and other intangibles assets were not impaired as of December 31, 2020, we will continue to assess impairment indicators related to the impact of the COVID-19 pandemic on our business.

Goodwill

The change in carrying amount of goodwill was as follows (in thousands):


	Goodwill (Gross)		Accumulated Impairment Losses		Goodwill (Net)
January 1, 2019	$	243,053	$	(70,004)	$	173,049
Business combinations	22,405		—		22,405
Other	198		—		198
December 31, 2019	265,656		(70,004)		195,652
Business combinations	21,305		—		21,305
Other	(87)		—		(87)
December 31, 2020	$	286,874	$	(70,004)	$	216,870

Other changes included in the above table for the years ended December 31, 2020 and 2019 include minor adjustments for the allocation of certain acquisitions still under measurement. For the year ended December 31, 2019, other changes included several immaterial tuck-in acquisitions. For additional information regarding changes to goodwill resulting from acquisitions, see Note 17, Business Combinations.

At October 1, 2020, our measurement date, we tested goodwill for impairment under the updated guidance per ASU 2017-04 "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment" by performing a one-step qualitative assessment in conformity with generally accepted accounting principles and determined that no impairment of goodwill was required. As such, no impairment of goodwill was recognized for the year ended December 31, 2020. In addition, no impairment of goodwill was recognized for the years ended December 31, 2019 or 2018. Accumulated impairment losses included within the above table were incurred over multiple periods, with the latest impairment charge being recorded during the year ended December 31, 2010.

Intangibles, net

The following table provides the gross carrying amount, accumulated amortization and net book value for each major class of intangibles (in thousands):


	As of December 31,
	2020						2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Amortized intangibles:
Customer relationships	$	197,641	$	89,137	$	108,504	$	169,334	$	69,388	$	99,946
Covenants not-to-compete	20,309		13,436		6,873		16,959		10,617		6,342
Trademarks and tradenames	79,657		27,245		52,412		69,718		22,609		47,109
Backlog	18,847		15,243		3,604		14,080		13,915		165
	$	316,454	$	145,061	$	171,393	$	270,091	$	116,529	$	153,562

There was no intangible asset impairment loss for the years ended December 31, 2020, 2019 and 2018.

The gross carrying amount of intangibles increased approximately $46.4 million and $28.3 million during the years ended December 31, 2020 and 2019, respectively. Intangibles associated with business combinations accounted for approximately $46.2 million and $28.0 million of the increases during the years ended December 31, 2020 and 2019, respectively. For more information, see Note 17, Business Combinations. Amortization expense on intangible assets totaled approximately $28.5 million and $24.5 million, $25.4 million during the years ended December 31, 2020, 2019 and 2018, respectively. Remaining estimated aggregate annual amortization expense is as follows (in thousands):


2021			$32,357
2022			28,884
2023			25,447
2024			21,934
2025			16,529
Thereafter			46,242

Long-Term Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Long-term debt consisted of the following (in thousands):


	As of December 31,
	2020		2019
Senior Notes due 2028, net of unamortized debt issuance costs of $4,230 and $4,823, respectively	$	295,770	$	295,177
Term loan, net of unamortized debt issuance costs of $1,343 and $1,662, respectively	198,657		198,338
Vehicle and equipment notes, maturing through December 2025; payable in various monthly installments, including interest rates ranging from 1.9% to 4.8%	67,493		72,714
Various notes payable, maturing through March 2025; payable in various monthly installments, including interest rates ranging from 2.0% to 5.0%	3,392		2,966
	565,312		569,195
Less: current maturities	(23,355)		(24,164)
Long-term debt, less current maturities	$	541,957	$	545,031

Remaining required repayments of debt principal, gross of unamortized debt issuance costs, as of December 31, 2020 are as follows (in thousands):


2021			$23,355
2022			19,642
2023			14,452
2024			8,545
2025			204,891
Thereafter			300,000

5.75% Senior Notes due 2028

In September 2019, we issued $300.0 million in aggregate principal amount of 5.75% senior unsecured notes (the “Senior Notes”). The Senior Notes will mature on February 1, 2028 and interest will be payable semi-annually in cash in arrears on February 1 and August 1, commencing on February 1, 2020. The net proceeds from the Senior Notes offering were $295.0 million after debt issuance costs. We used some of the net proceeds to repay a portion of our outstanding obligations (including accrued and unpaid interest) under our term loan credit agreement (as defined below) and to pay fees and expenses related to the entry into a new revolving credit facility described below.

The indenture covering the Senior Notes contains restrictive covenants that, among other things, limit the ability of the Company and certain of our subsidiaries (subject to certain exceptions) to: (i) incur additional debt and issue preferred stock; (ii) pay dividends on, redeem or repurchase stock in an aggregate amount exceeding 2.0% of market capitalization per fiscal year, or in an aggregate amount exceeding certain applicable restricted payment baskets; (iii) prepay subordinated debt; (iv) create liens; (v) make specified types of investments; (vi) apply net proceeds from certain asset sales; (vii) engage in transactions with affiliates; (viii) merge, consolidate or sell substantially all of our assets; and (ix) pay dividends and make other distributions from subsidiaries.

Credit Facilities

In December 2019, we amended and restated our $400 million, seven-year term loan facility due April 2025 (the “Term Loan”) under our credit agreement (the “Term Loan Agreement”), dated as of April 13, 2017 (as previously amended by the First Amendment thereto dated November 30, 2017 and by the Second Amendment thereto dated June 19, 2018). The amended Term Loan (i) effects a repricing of the interest rate applicable to the term loans thereunder from LIBOR plus 2.50% to LIBOR plus 2.25% and (ii) replaces Royal Bank of Canada with Bank of America, N.A. as the administrative agent and collateral agent thereunder. As of December 31, 2020, we had $198.7 million, net of unamortized debt issuance costs, due on our Term Loan. The amended Term Loan also has a margin of 1.25% in the case of base rate loans.

In September 2019, we entered into a new asset-based lending credit agreement (the “ABL Credit Agreement”). The ABL Credit Agreement provides for an asset-based lending credit facility (the “ABL Revolver”) of up to $200.0 million with a five-year maturity, which replaced the Company’s previous revolving credit facility. Borrowing availability under the ABL Revolver is based on a percentage of the value of certain assets securing the Company’s obligations and those of the subsidiary guarantors thereunder. In connection with the Amended and Restated Term Loan, we entered into a Second Amendment (the “Second Amendment”) to the ABL/Term Loan Intercreditor Agreement with Bank of America, N.A., as ABL Agent for the lenders under the ABL Credit Agreement, and Bank of America, N.A., as Term Loan Agent for the lenders under the Amended and Restated Term Loan. Including outstanding letters of credit, our remaining availability under the ABL Revolver as of December 31, 2020 was $161.2 million.

All of the obligations under the Term Loan and ABL Revolver are guaranteed by all of the Company’s existing restricted subsidiaries and will be guaranteed by the Company’s future restricted subsidiaries. Additionally, all obligations under the Term Loan and ABL Revolver, and the guarantees of those obligations, are secured by substantially all of the assets of the Company and the guarantors, subject to certain exceptions and permitted liens, including a first-priority security interest in such assets that constitute ABL Priority Collateral, as defined in the ABL Credit Agreement, and a second- priority security interest in such assets that constitute Term Loan Priority Collateral, as defined in the Term Loan Agreement.

The ABL Revolver bears interest at either the Eurodollar rate or the base rate (which approximated the prime rate), at the Company’s election, plus a margin of (A) 1.25% or 1.50% in the case of Eurodollar rate loans (based on a measure of availability under the ABL Credit Agreement) and (B) 0.25% or 0.50% in the case of base rate loans (based on a measure of availability under the ABL Credit Agreement).

The ABL Revolver also provides incremental revolving credit facility commitments of up to $50.0 million. The terms and conditions of any incremental revolving credit facility commitments must be no more favorable than the terms of the ABL Revolver. The ABL Revolver also allows for the issuance of letters of credit of up to $75.0 million in aggregate and borrowing of swingline loans of up to $20.0 million in aggregate.

The ABL Credit Agreement contains a financial covenant requiring the satisfaction of a minimum fixed charge coverage ratio of 1.0x in the event that we do not meet a minimum measure of availability under the ABL Revolver. The ABL Credit Agreement and the Term Loan Agreement contain restrictive covenants that, among other things, limit the ability of the Company and certain of our subsidiaries (subject to certain exceptions) to: (i) incur additional debt and issue preferred stock; (ii) pay dividends on, redeem or repurchase stock in an aggregate amount exceeding 2.0% of market capitalization per fiscal year, or in an aggregate amount exceeding certain applicable restricted payment baskets; (iii) prepay subordinated debt; (iv) create liens; (v) make specified types of investments; (vi) apply net proceeds from certain asset sales; (vii) engage in transactions with affiliates; (viii) merge, consolidate or sell substantially all of our assets; and (ix) pay dividends and make other distributions from subsidiaries.

Vehicle and Equipment Notes

We are party to a Master Loan and Security Agreement (“Master Loan and Security Agreement”), a Master Equipment Lease Agreement (“Master Equipment Agreement”) and one or more Master Loan Agreements (“Master Loan Agreements” and together with the Master Loan and Security Agreement and Master Equipment Agreement the “Master Loan Equipment Agreements”) with various lenders to provide financing for the purpose of purchasing or leasing vehicles and equipment used in the normal course of business. Each financing arrangement under these agreements constitutes a separate note and obligation. Vehicles and equipment purchased or leased under each financing arrangement serve as collateral for the note applicable to such financing arrangement. Regular payments are due under each note for a period of typically 60 consecutive months after the incurrence of the obligation. The specific terms of each note are based on specific criteria, including the type of vehicle or equipment and the market interest rates at the time. No termination date applies to these agreements. As of December 31, 2020, approximately $64.1 million of the various loan agreements was available for purchases of equipment.

Total gross assets relating to our Master Loan and Equipment Agreements were $132.2 million and $130.2 million as of December 31, 2020 and 2019, respectively. The net book value of assets under these agreements was $65.7 million and $68.2 million as of December 31, 2020 and 2019, respectively. Depreciation of assets held under these agreements is included within cost of sales on the Consolidated Statements of Operations and Comprehensive Income.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

LEASESWe lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install; various office spaces for selling and administrative activities to support our business; and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.

Lease Position as of December 31, 2020

The table below presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheet:


(in thousands)	Classification	As of December 31, 2020		As of December 31, 2019
Assets
Non-Current
Operating	Operating lease right-of-use assets	$	53,766	$	45,691
Finance	Property and equipment, net	4,946		7,148
Total lease assets		$	58,712	$	52,839
Liabilities
Current
Operating	Current maturities of operating lease obligations	$	18,758	$	15,459
Financing	Current maturities of finance lease obligations	2,073		2,747
Non-Current
Operating	Operating lease obligations	34,413		29,785
Financing	Finance lease obligations	2,430		3,597
Total lease liabilities		$	57,674	$	51,588


Weighted-average remaining lease term
Operating leases	4.1 years		4.6 years
Finance leases	2.6 years		2.7 years
Weighted-average discount rate
Operating leases	3.67	%	4.67	%
Finance leases	5.08	%	4.85	%

Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases during 2020 and 2019:


		Years ended December 31,
(in thousands)	Classification	2020		2019
Operating lease cost (1)	Administrative	$	23,454	$	21,024
Finance lease cost
Amortization of leased assets (2)	Cost of sales	3,645		4,942
Interest on finance lease obligations	Interest expense, net	268		341
Total lease costs		$	27,367	$	26,307

(1)Includes variable lease costs of $2.9 million and $2.5 million for the year ended December 31, 2020 and 2019, respectively, and short-term lease costs of $0.8 million and $0.9 million for the years ended December 31, 2020 and 2019 respectively.

(2)Includes variable lease costs of $0.7 million and $0.9 million for the years ended December 31, 2020 and 2019 respectively.

Other Information

The table below presents supplemental cash flow information related to leases during 2020 and 2019 (in thousands):


	Years ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	19,668	$	17,521
Operating cash flows for finance leases	268		341
Financing cash flows for finance leases	2,632		4,157

Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Consolidated Balance Sheet as of December 31, 2020 (in thousands):


	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
2021	$	2,315	$	1,061	$	19,296	$	20,357
2022	1,228		986		13,929		14,915
2023	867		534		8,630		9,164
2024	453		548		4,010		4,558
2025	85		561		2,358		2,919
Thereafter	—		526		5,097		5,623
Total minimum lease payments	4,948		$	4,216	$	53,320	57,536
Less: Amounts representing executory costs	(88)						—
Less: Amounts representing interest	(357)						(4,365)
Present value of future minimum lease payments	4,503						53,171
Less: Current obligation under leases	(2,073)						(18,758)
Long-term lease obligations	$	2,430					$	34,413

Leases

Lease Position as of December 31, 2020

The table below presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheet:


(in thousands)	Classification	As of December 31, 2020		As of December 31, 2019
Assets
Non-Current
Operating	Operating lease right-of-use assets	$	53,766	$	45,691
Finance	Property and equipment, net	4,946		7,148
Total lease assets		$	58,712	$	52,839
Liabilities
Current
Operating	Current maturities of operating lease obligations	$	18,758	$	15,459
Financing	Current maturities of finance lease obligations	2,073		2,747
Non-Current
Operating	Operating lease obligations	34,413		29,785
Financing	Finance lease obligations	2,430		3,597
Total lease liabilities		$	57,674	$	51,588


Weighted-average remaining lease term
Operating leases	4.1 years		4.6 years
Finance leases	2.6 years		2.7 years
Weighted-average discount rate
Operating leases	3.67	%	4.67	%
Finance leases	5.08	%	4.85	%

Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases during 2020 and 2019:


		Years ended December 31,
(in thousands)	Classification	2020		2019
Operating lease cost (1)	Administrative	$	23,454	$	21,024
Finance lease cost
Amortization of leased assets (2)	Cost of sales	3,645		4,942
Interest on finance lease obligations	Interest expense, net	268		341
Total lease costs		$	27,367	$	26,307

(2)Includes variable lease costs of $0.7 million and $0.9 million for the years ended December 31, 2020 and 2019 respectively.

Other Information

The table below presents supplemental cash flow information related to leases during 2020 and 2019 (in thousands):


	Years ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	19,668	$	17,521
Operating cash flows for finance leases	268		341
Financing cash flows for finance leases	2,632		4,157

Undiscounted Cash Flows


	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
2021	$	2,315	$	1,061	$	19,296	$	20,357
2022	1,228		986		13,929		14,915
2023	867		534		8,630		9,164
2024	453		548		4,010		4,558
2025	85		561		2,358		2,919
Thereafter	—		526		5,097		5,623
Total minimum lease payments	4,948		$	4,216	$	53,320	57,536
Less: Amounts representing executory costs	(88)						—
Less: Amounts representing interest	(357)						(4,365)
Present value of future minimum lease payments	4,503						53,171
Less: Current obligation under leases	(2,073)						(18,758)
Long-term lease obligations	$	2,430					$	34,413

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair Values

Fair value is the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

ASC 820, “Fair Value Measurement,” establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy. The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy. During the periods presented, there were no transfers between fair value hierarchical levels.

Assets Measured at Fair Value on a Nonrecurring Basis

Certain assets, specifically other intangible and long-lived assets, are measured at fair value on a nonrecurring basis in periods subsequent to initial recognition. Assets measured at fair value on a nonrecurring basis as of December 31, 2020 and 2019 are categorized based on the lowest level of significant input to the valuation. The assets are measured at fair value when our impairment assessment indicates a carrying value for each of the assets in excess of the asset’s estimated fair value. Undiscounted cash flows, a Level 3 input, are utilized in determining estimated fair values. During each of the years ended December 31, 2020, 2019 and 2018, we did not record any impairments on these assets required to be measured at fair value on a nonrecurring basis.

Estimated Fair Value of Financial Instruments

Accounts receivable, accounts payable and accrued liabilities as of December 31, 2020 and 2019 approximate fair value due to the short-term maturities of these financial instruments. The carrying amounts of certain long-term debt, including the Term Loan and ABL Revolver as of December 31, 2020 and 2019, approximate fair value due to the variable rate nature of the agreements. The carrying amounts of our operating lease right-of-use assets and the obligations associated with our operating and finance leases as well as our vehicle and equipment notes approximate fair value as of December 31, 2020 and 2019. All debt classifications represent Level 2 fair value measurements.

Derivative financial instruments are measured at fair value based on observable market information and appropriate valuation methods. Contingent consideration liabilities arise from future earnout payments to the sellers associated with certain acquisitions and are based on predetermined calculations of certain future results. These future payments are estimated by considering various factors, including business risk and projections. The contingent consideration liabilities are measured at fair value by discounting estimated future payments, calculated based on a weighted average of various future forecast scenarios, to their net present value. The fair values of financial assets and liabilities that are recorded at fair value in the Consolidated Balance Sheets and not described above were as follows (in thousands):


	As of December 31, 2020								As of December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Financial assets:
Cash equivalents	$	170,398	$	170,398	$	—	$	—	$	99,242	$	99,242	$	—	$	—
Derivative financial instruments	5,130		—		5,130		—		—		—		—		—
Total financial assets	$	175,528	$	170,398	$	5,130	$	—	$	99,242	$	99,242	$	—	$	—
Financial liabilities:
Contingent consideration	$	4,004	$	—	$	—	$	4,004	$	3,854	$	—			$	3,854
Derivative financial instruments	324		—		324		—		9,446		—		9,446		—
Total financial liabilities	$	4,328	$	—	$	324	$	4,004	$	13,300	$	—	$	9,446	$	3,854

See Note 5, Investments, for more information on cash equivalents included in the table above. Also see Note 11, Derivatives and Hedging Activities, for more information on derivative financial instruments.

The change in fair value of the contingent consideration (a Level 3 input) was as follows (in thousands):


Contingent consideration liability—January 1, 2020	$	3,854
Preliminary purchase price	3,813
Fair value adjustments	(473)
Accretion in value	631
Amounts cancelled	(188)
Amounts paid to sellers	(3,633)
Contingent consideration liability—December 31, 2020	$	4,004

The accretion in value of contingent consideration liabilities is included within administrative expenses on the Consolidated Statements of Operations and Comprehensive Income.

The carrying values and associated fair values of financial assets and liabilities that are not recorded at fair value in the Consolidated Balance Sheets and not described above include our Senior Notes and investments. To estimate fair values of these items, we utilized third-party quotes which are derived all or in part from model prices, external sources or market prices. Both represent a Level 2 fair value measurement and are as follows (in thousands):


	As of December 31, 2020				As of December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Investments	$	—	$	—	$	37,961	$	37,958
Senior Notes (1)	300,000		320,013		300,000		321,114

(1)Excludes the impact of unamortized debt issuance costs.

See Note 5, Investments, for more information on investments included in the table above. Also see Note 8, Long-Term Debt, for more information on our Senior Notes.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivatives and Hedging Activities	12 Months Ended
Derivatives and Hedging Activities	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both our business operations and economic conditions. We manage exposure to a wide variety of business and operational risks through our core business activities. We manage economic risks, including interest rate, liquidity and credit risk primarily by overseeing the amount, sources and duration of debt funding and the use of derivative financial instruments. Specifically, we have entered into derivative financial instruments to manage exposure to interest rate movements that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing and duration of our known or expected cash receipts and known or expected cash payments principally related to our investments and borrowings. Cash Flow Hedges of Interest Rate Risk Our purpose for using interest rate derivatives is to add stability to interest expense and to manage our exposure to interest rate movements. During the year ended December 31, 2020, we used interest rate swaps to hedge the variable cash flows associated with existing variable-rate debt. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We do not use derivatives for trading or speculative purposes and we currently do not have any derivatives that are not designated as hedges. As of December 31, 2020, we have not posted any collateral related to these agreements. During the year ended December 31, 2020, we terminated our two existing interest rate swaps and our forward interest rate swap and simultaneously entered into a new forward interest rate swap beginning July 30, 2021. We settled the terminated swaps by making a cash payment of $17.8 million. This payment is classified within cash flows from operating activities within the Consolidated Statements of Cash Flows for the year ended December 31, 2020. The unrealized loss included in accumulated other comprehensive loss associated with the terminated swaps of $17.8 million at the time of termination will be amortized to interest expense over the course of the originally scheduled settlement dates of the terminated swaps. During the year ended December 31, 2020, we amortized $1.3 million of the unrealized loss to interest expense, net. The new forward interest rate swap has a beginning notional amount of $200.0 million, a fixed rate of 0.51% and a maturity date of April 15, 2030. Upon commencement, this forward swap will serve to hedge substantially all of the variable cash flows on our Term Loan until its maturity and if extended. The assets and liabilities associated with the forward interest rate swap are included in other long-term assets and other current liabilities on the Consolidated Balance Sheets at their fair value amounts as described in Note 10, Fair Value Measurements. The changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in other comprehensive income, net of tax on the Consolidated Statements of Operations and Comprehensive Income and in accumulated other comprehensive income on the Consolidated Balance Sheets and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. We had no such changes during the years ended December 31, 2020 or 2019. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense, net as interest payments are made on our variable-rate debt. Over the next twelve months, we estimate that an additional $3.5 million will be reclassified as an increase to interest expense, net. LIBOR is used as a reference rate for our interest rate swap agreements we use to hedge our interest rate exposure. During the year ended December 31, 2020, we adopted ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848). The purpose of this guidance is to provide relief for impacted areas as it relates to impending reference rate reform. We elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	STOCKHOLDERS’ EQUITYAs of December 31, 2020 and 2019, we had losses of $8.8 million and $7.1 million, respectively, in accumulated other comprehensive loss on our Consolidated Balance Sheets. The loss as of December 31, 2020 represented the unrealized loss on our terminated interest rate swaps of $12.2 million, net of taxes, less the effective portion of the unrealized gain on our forward interest rate swap of $3.4 million, net of taxes. The loss as of December 31, 2019 represented the effective portion of the unrealized loss on our now-terminated derivative instruments. For additional information, see Note 11, Derivatives and Hedging Activities.On February 26, 2018, our board of directors authorized a $50 million stock repurchase program effective March 2, 2018 and on October 31, 2018, our board of directors approved an additional stock repurchase program, effective November 6, 2018, pursuant to which we may purchase up to an additional $100 million of our outstanding common stock. In February 28, 2020, our board of directors approved extending the current stock repurchase program to March 1, 2021. During the year ended December 31, 2020, we repurchased 633 thousand shares of our outstanding common stock with an aggregate price of approximately $33.9 million, or $53.57 average price per share. We did not repurchase any shares during the year ended December 31, 2019. As of December 31, 2020, we had $26.7 million remaining on our stock repurchase program. In response to COVID-19, we temporarily suspended our share repurchase program. Given the current state of our business and our markets, effective November 9, 2020, our share repurchase program was reinstated. The effect of these treasury shares reducing the number of common shares outstanding is reflected in our earnings per share calculation. In February, 2021, our board of directors approved extending the current stock repurchase program and increased the total amount of our outstanding common stock authorized for purchase under the program. For more details, see Note 19, Subsequent Events.

Employee Benefits

12 Months Ended

Dec. 31, 2020

Postemployment Benefits [Abstract]

Employee Benefits

EMPLOYEE BENEFITS

Healthcare

We participate in multiple healthcare plans, the largest of which is partially self-funded with an insurance company paying benefits in excess of stop loss limits per individual/family. Our healthcare benefit expense (net of employee contributions)

was approximately $24.1 million, $21.9 million and $17.8 million for the years ended December 31, 2020, 2019 and 2018, respectively, for all plans. An accrual for estimated healthcare claims incurred but not reported (“IBNR”) is included within accrued compensation on the Consolidated Balance Sheets and was $3.1 million and $2.6 million as of December 31, 2020 and 2019, respectively.

Workers’ Compensation

We participate in multiple workers’ compensation plans. Under these plans, for a significant portion of our business, we use a high deductible program to cover losses above the deductible amount on a per claim basis. We accrue for the estimated losses occurring from both asserted and unasserted claims. Workers’ compensation liability for premiums is included in other current liabilities on the Consolidated Balance Sheets. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of actuarial estimates of IBNR claims. In estimating these reserves, historical loss experience and judgments about the expected levels of costs per claim are considered. These claims are accounted for based on actuarial estimates of the undiscounted claims, including IBNR. We believe the use of actuarial methods to account for these liabilities provides a consistent and effective way to measure these highly judgmental accruals.

Workers’ compensation expense totaled $15.7 million, $15.4 million and $12.8 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in cost of sales on the Consolidated Statements of Operations and Comprehensive Income. Workers’ compensation known claims and IBNR reserves included on the Consolidated Balance Sheets were as follows (in thousands):


	As of December 31,
	2020		2019
Included in other current liabilities	$	7,703	$	6,777
Included in other long-term liabilities	11,986		10,874
	$	19,689	$	17,651

We also had an insurance receivable for claims that exceeded the stop loss limit for fully insured policies included on the Consolidated Balance Sheets. This receivable offsets an equal liability included within the reserve amounts noted above and was as follows (in thousands):


	As of December 31,
	2020		2019
Included in other non-current assets	$	1,854	$	2,098

Retirement Plans

We participate in multiple 401(k) plans, whereby we provide a matching contribution of wages deferred by employees and can also make discretionary contributions to each plan. Certain plans allow for discretionary employer contributions only. These plans cover substantially all our eligible employees. During the years ended December 31, 2020, 2019 and 2018, we recognized 401(k) plan expenses of $2.2 million, $2.0 million and $1.7 million, respectively, which is included in administrative expenses on the accompanying Consolidated Statements of Operations and Comprehensive Income.

Multiemployer Pension Plans

We participate in various multiemployer pension plans under collective bargaining agreements in Washington, Oregon and Illinois with other companies in the construction industry. These plans cover our union-represented employees and contributions to these plans are expensed as incurred. These plans generally provide for retirement, death and/or termination benefits for eligible employees within the applicable collective bargaining units, based on specific eligibility/participation requirements, vesting periods and benefit formulas. We do not participate in any multiemployer pension plans that are considered to be individually significant.

The risks of participating in these multiemployer pension plans are different from single-employer pension plans. For example:

•Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.

•If a participating employer stops contributing to the multiemployer plan, the unfunded obligations of the plan may be borne by the remaining participating employers.

•If a participating employer chooses to stop participating in these multiemployer plans, the employer may be required to pay those plans a withdrawal liability based upon the underfunded status of the plan.

We also participate in various multiemployer health and welfare plans that cover both active and retired participants. Health care benefits are provided to participants who meet certain eligibility requirements under the applicable collective bargaining unit.

Our contributions to multiemployer pension and health and welfare benefit plans were as follows (in thousands):


	Years ended December 31,
	2020		2019		2018
Pension plans	$	1,128	$	809	$	871
Health & welfare plans	952		674		724
Total contributions	$	2,080	$	1,483	$	1,595

The increase in contributions for the year ended December 31, 2020 was driven by the acquisitions of Insulation Contractors/Magellan Insulation and Norkote, Inc. See Note 17, Business Combinations for more information.

Share-Based Compensation

Common Stock Awards

We periodically grant shares of our common stock under our 2014 Omnibus Incentive Plan to non-employee members of our board of directors and our employees. During the years ended December 31, 2020, 2019 and 2018 , we granted approximately six thousand, eight thousand and five thousand shares of restricted stock, respectively, to non-employee members of our board of directors. Substantially all of the stock will vest over a one-year service period.

In addition, we granted approximately 0.2 million, 0.1 million and 0.1 million shares of our common stock to employees in each of the years ended December 31, 2020, 2019 and 2018, respectively. Substantially all of the stock will vest in three equal installments (rounded to the nearest whole share) annually over a three-year service period.

Performance-Based Stock Awards

We periodically grant nonvested stock awards subject to performance-based vesting conditions to certain officers. During the year ended December 31, 2020, we issued approximately 0.1 million shares of our common stock which vest in two equal installments on each of April 20, 2021 and April 20, 2022. In addition, during the year ended December 31, 2020, we established, and our Board of Directors approved, performance-based targets in connection with common stock awards to be issued to certain officers in 2021 contingent upon achievement of these targets.

In addition, there are long-term performance-based restricted stock awards to be issued to certain employees annually through 2022 contingent upon achievement of certain performance targets. These awards are accounted for as liability-based awards since they represent a predominantly-fixed monetary amount that will be settled with a variable number of common shares and as such are included in other long-term liabilities on the Consolidated Balance Sheets. During the year ended December 31, 2020, we granted approximately seven thousand shares that will vest in 2022.

Performance-Based Restricted Stock Units

During 2019, we established, and our board of directors approved, performance-based restricted stock units in connection with common stock awards which were issued to certain employees in 2020 based upon achievement of a performance target. In addition, during the year ended 2020, we established, and our board of directors approved, performance-based restricted stock units in connection with common stock awards to be issued to certain employees in 2021 based upon achievement of a

performance target. These units will be accounted for as equity-based awards that will be settled with a fixed number of common shares. During the year ended December 31, 2020, we granted approximately fourteen thousand shares that will vest over a one-year service period.

Share-Based Compensation Summary

Amounts and changes for each category of equity-based award were as follows:


	Common Stock Awards			Performance-Based Stock Awards			Performance-Based Restricted Stock Units
	Awards	Weighted Average Grant Date Fair Value Per Share		Awards	Weighted Average Grant Date Fair Value Per Share		Units	Weighted Average Grant Date Fair Value Per Share
Nonvested awards/units at December 31, 2019	152,882	$	52.93	160,289	$	50.49	13,186	$	51.62
Granted	174,445	44.56		61,174	77.20		13,655	36.51
Vested	(90,870)	49.69		(54,502)	51.43		(13,077)	51.50
Forfeited/Cancelled	(5,177)	45.94		—	—		(491)	42.94
Nonvested awards/units at December 31, 2020	231,280	$	48.05	166,961	$	59.97	13,273	$	36.51

The following table summarizes the share-based compensation expense recognized under our 2014 Omnibus Incentive Plan (in thousands):


	Years ended December 31,
	2020		2019		2018
Common Stock Awards	$	4,116	$	4,242	$	3,847
Non-Employee Common Stock Awards	333		359		177
Performance-Based Stock Awards	3,869		3,034		2,041
Liability Performance-Based Stock Awards	1,969		432		163
Performance-Based Restricted Stock Units	539		660		1,618
	$	10,826	$	8,727	$	7,846

We recorded the following stock compensation expense, by income statement category (in thousands):


	Years ended December 31,
	2020		2019		2018
Cost of sales	$	284	$	374	$	846
Selling	202		194		451
Administrative	10,340		8,159		6,549
	$	10,826	$	8,727	$	7,846

Administrative stock compensation expense includes all stock compensation earned by our administrative personnel, while cost of sales and selling stock compensation represents all stock compensation earned by our installation and sales employees, respectively. We recognized a tax shortfall of $0.3 million for the year ended December 31, 2020 and we recognized windfall tax benefits of $0.3 million and $0.5 million for the years ended December 31, 2019 and 2018, respectively, associated with our Common Stock Awards within the income tax provision in the Consolidated Statements of Operations and Comprehensive Income.

Unrecognized share-based compensation expense related to unvested awards was as follows (in thousands):


	As of December 31, 2020
	Unrecognized Compensation Expense on Unvested Awards		Weighted Average Remaining Vesting Period
Common Stock Awards	$	7,162	1.9 years
Performance-Based Stock Awards	4,310		1.6 years
Performance-Based Restricted Stock Units	137		0.3 years
Total unrecognized compensation expense related to unvested awards	$	11,609

Total unrecognized compensation expense is subject to future adjustments for forfeitures. This expense is expected to be recognized over the remaining weighted-average period shown above on a straight-line basis except for the Performance-Based Stock Awards which uses the graded-vesting method. Shares forfeited are returned as treasury shares and available for future issuances.

During the years ended December 31, 2020, 2019 and 2018, our employees surrendered approximately 25 thousand, 45 thousand and 41 thousand shares of our common stock under all plans, respectively, to satisfy tax withholding obligations arising in connection with the vesting of common stock awards issued under our 2014 Omnibus Incentive Plan.

As of December 31, 2020, approximately 2.0 million of the 3.0 million shares of common stock authorized for issuance were available for issuance under the 2014 Omnibus Incentive Plan.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provision for income taxes is comprised of (in thousands):


	Years ended December 31,
	2020		2019		2018
Current:
Federal	$	33,495	$	14,850	$	13,486
State	8,918		4,127		3,641
	42,413		18,977		17,127
Deferred:
Federal	(7,177)		4,585		221
State	(1,298)		884		90
	(8,475)		5,469		311
Total tax expense	$	33,938	$	24,446	$	17,438

The reconciliation between our effective tax rate on net income and the federal statutory rate is as follows (dollars in thousands):


	Years ended December 31,
	2020				2019				2018
Income tax at federal statutory rate	$	27,547	21.0	%	$	19,447	21.0	%	$	15,159	21.0	%
Stock compensation	331		0.3	%	(255)		(0.3)	%	(436)		(0.6)	%

Other permanent items	424		0.3	%	737		0.8	%	(667)		(0.8)	%
Change in valuation allowance	(207)		(0.2)	%	276		0.3	%	312		0.4	%
Change in uncertain tax positions	65		0.1	%	67		0.1	%	969		1.3	%
State income taxes, net of federal benefit	5,778		4.4	%	4,174		4.5	%	2,911		4.0	%
Rate impact of the Tax Act	—		—	%	—		—	%	(810)		(1.1)	%
Total tax expense	$	33,938	25.9	%	$	24,446	26.4	%	$	17,438	24.2	%

Components of the net deferred tax asset or liability are as follows (in thousands):


	As of December 31,
	2020		2019
Deferred Tax Assets
Long-term
Accrued liabilities and allowances	$	9,106	$	5,140
Allowance for doubtful accounts	987		514
Inventories	402		437
Property and equipment	280		303
Intangibles	6,582		5,615
Net operating loss carryforwards	1,206		1,240
Other	16		5
Long-term deferred tax assets	18,579		13,254
Less: Valuation allowance	(1,263)		(1,512)
Net deferred tax assets	17,316		11,742
Deferred Tax Liabilities
Long-term
Accrued liabilities and allowances	(151)		(252)
Property and equipment	(4,587)		(4,176)
Intangibles	(4,810)		(4,307)
Investment in partnership	(6,660)		(11,857)
Other	(650)		(325)
Long-term deferred tax liabilities	(16,858)		(20,917)
Net deferred tax assets (liabilities)	$	458	$	(9,175)

As of December 31, 2020, we have recorded a deferred tax asset of $1.2 million reflecting the benefit of $5.4 million in federal and state income tax net operating loss (NOL) carryforwards, the earliest of which expires in 2030.

Valuation Allowance

We assess the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets on a jurisdiction and by tax filing entity basis. A significant piece of objective negative evidence evaluated is cumulative losses incurred over the most recent three-year period. Such objective evidence limits our ability to consider other subjective positive evidence such as our projections for future growth.

Based on this evaluation, a valuation allowance has been recorded as of December 31, 2020 and 2019 for the net deferred tax assets recorded on certain of our wholly owned subsidiaries. Such deferred tax assets relate primarily to net operating losses that are not more likely than not realizable. However, the amount of the deferred tax asset considered realizable could be adjusted if our estimate of future taxable income during the carryforward period changes, or if objective negative evidence in the form of cumulative losses is no longer present. Additional weight may be given to subjective evidence such as our projections for growth in this situation.

Uncertain Tax Positions

We are subject to taxation in the United States and various state jurisdictions. As of December 31, 2020, our tax years for 2017 through 2019 are subject to examination by the tax authorities. A rollforward of the gross unrecognized tax benefits is as follows (in thousands):


Unrecognized tax benefit, January 1, 2018	$	4,450
Increase as a result of tax positions taken during the period	3,846
Decrease as a result of tax positions taken during the period	(2,850)
Decrease as a result of expiring statutes	(97)
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2018	$	5,349

Increase as a result of tax positions taken during the period	2,866
Decrease as a result of tax positions taken during the period	(2,482)
Decrease as a result of expiring statutes	(16)
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2019	$	5,717

Increase as a result of tax positions taken during the period	3,822
Decrease as a result of tax positions taken during the period	(2,873)
Increase as a result of expiring statutes	10
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2020	$	6,676

Unrecognized tax benefits of $2.8 million at December 31, 2020 would affect the effective tax rate. Interest expense and penalties accrued related to uncertain tax positions as of December 31, 2020 are $0.5 million.

We expect a decrease to the amount of unrecognized tax benefits (exclusive of penalties and interest) within the next twelve months of zero to $4.8 million.

Determining uncertain tax positions and the related estimated amounts requires judgment and carry estimation risk. If future tax law changes or interpretations should come to light, or additional information should become known, our conclusions regarding unrecognized tax benefits may change.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

RELATED PARTY TRANSACTIONSWe sell installation services to other companies related to us through common or affiliated ownership and/or board of directors and/or management relationships. We also purchase services and materials and pay rent to companies with common or related ownership.

We lease our headquarters and certain other facilities from related parties. See Note 9, Leases, for future minimum lease payments to be paid to these related parties.

The amount of sales to common or related parties as well as the purchases from and rent expense paid to common or related parties were as follows (in thousands):


	Years ended December 31,
	2020		2019		2018
Sales	$	3,987	$	13,488	$	12,636
Purchases	1,841		1,810		1,587
Rent	1,125		1,040		1,099

At December 31, 2020 and 2019, we had related party balances of approximately $0.7 million and $1.7 million, respectively, included in accounts receivable on our Consolidated Balance Sheets. These balances primarily represent trade accounts receivable arising during the normal course of business with various related parties. M/I Homes, Inc., a customer whose Chairman, President and Chief Executive Officer was a member of our board of directors until his resignation from our board effective March 18, 2020, accounted for $1.3 million of the related party accounts receivable balance as of December 31, 2019. Additionally, M/I Homes, Inc. accounted for a significant portion of our related party sales during the first quarter of the year ended December 31, 2020 as well as the years ended December 31, 2019 and 2018 while it was classified as a related party to the Company.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Accrued General Liability and Auto Insurances

Accrued general liability and auto insurance reserves included on the Consolidated Balance Sheets were as follows (in thousands):


	As of December 31,
	2020		2019
Included in other current liabilities	$	5,102	$	3,538
Included in other long-term liabilities	16,440		18,184
	$	21,542	$	21,722

We also had insurance receivables and indemnification assets included on the Consolidated Balance Sheets that, in aggregate, offset equal liabilities included within the reserve amounts noted above. The amounts were as follows (in thousands):


	As of December 31,
	2020		2019
Insurance receivables and indemnification assets for claims under fully insured policies	$	4,400	$	7,491
Insurance receivables for claims that exceeded the stop loss limit	328		2,321
Total insurance receivables and indemnification assets included in other non-current assets	$	4,728	$	9,812

Leases

See Note 9, Leases, for further information on our lease commitments.

Other Commitments and Contingencies

From time to time, various claims and litigation are asserted or commenced against us principally arising from contractual matters and personnel and employment disputes. In determining loss contingencies, management considers the likelihood of

loss as well as the ability to reasonably estimate the amount of such loss or liability. An estimated loss is recorded when it is considered probable that such a liability has been incurred and when the amount of loss can be reasonably estimated. As litigation is subject to inherent uncertainties, we cannot be certain that we will prevail in these matters. However, we do not believe that the ultimate outcome of any pending matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

During the year ended December 31, 2018, we entered into an agreement with one of our suppliers to purchase a portion of the insulation materials we utilize across our business. This agreement is effective January 1, 2019 through December 31, 2021 with a purchase obligation of $22.6 million for 2020 and $14.9 million for 2021. During the fourth quarter of 2020, our commitment for the year ended December 31, 2020 was reduced to $12.6 million, which is equal to the total amount we purchased during the year.

Business Combinations

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combinations

BUSINESS COMBINATIONS

As part of our ongoing strategy to expand geographically and increase market share in certain markets, we completed nine, six and ten business combinations during the years ended December 31, 2020, 2019 and 2018, respectively, as well as several insignificant tuck-in acquisitions merged into existing operations in 2019 and 2018, in which we acquired 100% of the voting equity interests in each acquired entity. Acquisition-related costs amounted to $2.8 million, $2.1 million and $2.7 million for the years ended December 31, 2020, 2019 and 2018, respectively, and are included in Administrative expenses on the Consolidated Statements of Operations and Comprehensive Income. The goodwill to be recognized in conjunction with these business combinations represents the excess cost of the acquired entity over the net amount assigned to assets acquired and liabilities assumed. We expect to deduct $21.0 million of goodwill for tax purposes as a result of 2020 acquisitions.

Below is a summary of each significant acquisition by year, including revenue and net income (loss) since date of acquisition, shown for the year of acquisition. The largest of our 2020 acquisitions were Royals Commercial Services, Inc. (“Royals”) in February 2020, certain branches from Energy One America, LLC (“Energy One”) in August 2020, Storm Master Gutters (“Storm Master”) in August 2020, Insulation Contractors/Magellan Insulation (“ICON”) in October 2020, Norkote, Inc. (“Norkote”) in October 2020, and WeatherSeal Insulation Co., LLC (“WeatherSeal”) in November 2020. In each table, “Other” represents acquisitions that were individually immaterial in that year. Net income (loss), as noted below, includes amortization, taxes and interest allocations when appropriate.

For the year ended December 31, 2020 (in thousands):


2020 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
Royals	2/29/2020	Asset	$	7,590	$	2,500	$	10,090	$	11,095	$	1,332
Energy One	8/10/2020	Asset	13,200		1,591		14,791		7,454		(558)
Storm Master	8/31/2020	Asset	13,000		1,336		14,336		8,131		619
ICON	10/13/2020	Asset	16,900		3,598		20,498		4,798		449
Norkote	10/26/2020	Asset	8,725		2,426		11,151		2,702		417
WeatherSeal	11/16/2020	Asset	9,500		922		10,422		766		(23)
Other	Various	Asset	7,531		1,713		9,244		5,548		(344)
Total			$	76,446	$	14,086	$	90,532	$	40,494	$	1,892

For the year ended December 31, 2019 (in thousands):


2019 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
1st State Insulation	3/18/2019	Asset	$	5,125	$	1,355	$	6,480	$	9,828	$	476
Expert Insulation	6/24/2019	Asset	16,165		1,993		18,158		6,484		155
Premier	11/18/2019	Share	25,000		2,765		27,765		2,161		(62)
Other	Various	Asset	5,750		1,430		7,180		3,339		23
Total			$	52,040	$	7,543	$	59,583	$	21,812	$	592

For the year ended December 31, 2018 (in thousands):


2018 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
CDG	3/19/2018	Asset	$	9,440	$	1,973	$	11,413	$	11,466	$	531
AFT	10/31/2018	Asset	19,707		1,510		21,217		3,530		(13)
Other	Various	Shares/Asset	28,593		4,057		32,650		24,329		639
Total			$	57,740	$	7,540	$	65,280	$	39,325	$	1,157

Purchase Price Allocations

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following (in thousands):


	2020
	Royals		Energy One		Storm Master		ICON		Norkote		WeatherSeal		Other		Total
Estimated fair values:

Accounts receivable	$	2,848	$	3,357	$	2,362	$	4,828	$	1,926	$	865	$	1,419	$	17,605
Inventories	305		838		175		243		444		156		$	600	$	2,761
Other current assets	430		12		—		675		178		14		$	145	$	1,454
Property and equipment	598		2,319		798		380		584		520		$	663	$	5,862
Intangibles	3,930		6,500		8,720		11,830		5,310		5,450		$	4,483	$	46,223
Goodwill	3,015		3,253		3,631		2,870		2,841		3,472		$	2,223	$	21,305
Other non-current assets	58		—		—		145		—		—		$	38	$	241
Accounts payable and other current liabilities	(1,059)		(1,469)		(1,336)		(445)		(86)		(50)		$	(196)	$	(4,641)

Other long-term liabilities	(35)		(19)		(14)		(28)		(46)		(5)		$	(131)	$	(278)
Fair value of assets acquired and purchase price	10,090		14,791		14,336		20,498		11,151		10,422		9,244		90,532
Less seller obligations	2,500		1,591		1,336		3,598		2,426		922		1,713		14,086
Cash paid	$	7,590	$	13,200	$	13,000	$	16,900	$	8,725	$	9,500	$	7,531	$	76,446


	2019
	1st State		Expert		Premier		Other		Total
Estimated fair values:
Cash	—		—		$	334	—		$	334
Accounts receivable	—		1,796		2,929		479		5,204
Inventories	291		723		1,242		410		2,666
Other current assets	—		—		—		3		3
Property and equipment	989		235		876		887		2,987
Intangibles	3,382		6,740		14,300		3,619		28,041
Goodwill	1,857		8,545		10,151		1,765		22,318
Other non-current assets	—		161		329		41		531
Accounts payable and other current liabilities	(39)		(42)		(2,396)		(24)		(2,501)

Fair value of assets acquired and purchase price	6,480		18,158		27,765		7,180		59,583
Less seller obligations	1,355		1,993		2,765		1,430		7,543
Cash paid	$	5,125	$	16,165	$	25,000	$	5,750	$	52,040


	2018
	CDG		AFT	Other		Total
Estimated fair values:
Accounts receivable	$	1,731	—	$	4,104	$	5,835
Inventories	514		565	1,136		2,215
Other current assets	28		—	918		946
Property and equipment	933		2,882	2,169		5,984
Intangibles	3,711		13,470	18,904		36,085
Goodwill	4,898		4,415	7,766		17,079
Other non-current assets	36		13	82		131
Accounts payable and other current liabilities	(438)		(128)	(2,429)		(2,995)
Fair value of assets acquired and purchase price	11,413		21,217	32,650		65,280

Less seller obligations	1,973		1,510	4,057		7,540
Cash paid	$9,440		$19,707	$28,593		$57,740

Contingent consideration is included as “seller obligations” in the above table or within “fair value of assets acquired” if subsequently paid during the period presented. These contingent payments consist primarily of earnouts based on performance that are recorded at fair value at the time of acquisition, and/or non-compete agreements and amounts based on working capital calculations. When these payments are expected to be made over one year from the acquisition date, the contingent consideration is discounted to net present value of future payments based on a weighted average of various future forecast scenarios.

Further adjustments to the allocation for each acquisition still under its measurement period are expected as third-party or internal valuations are finalized, certain tax aspects of the transaction are completed, contingent consideration is settled, and customary post-closing reviews are concluded during the measurement period attributable to each individual business combination. As a result, insignificant adjustments to the fair value of assets acquired, and in some cases total purchase price, have been made to certain business combinations since the date of acquisition and future adjustments may be made through the end of each measurement period. Goodwill and intangibles per the above table do not agree to the total gross increases of these assets as shown in Note 7, Goodwill and Intangibles, during the years ended December 31, 2020, 2019 and 2018 due to minor adjustments to goodwill for the allocation of certain acquisitions still under measurement as well as other immaterial intangible assets added during the ordinary course of business. In addition, goodwill and intangibles increased during the years ended December 31, 2019 and 2018 due to various small acquisitions merged into existing operations that do not appear in the above tables.

Estimates of acquired intangible assets related to the acquisitions are as follows (dollars in thousands):


	2020			2019			2018
Acquired intangibles assets	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)
Customer relationships	$	28,307	8	$	20,659	8	$	27,149	8
Trademarks and trade names	9,834		15	5,286		15	6,075		15
Non-competition agreements	3,315		5	2,096		5	2,401		5
Backlog	4,767		1.5	—		—	460		2

Pro Forma Information (unaudited)

The unaudited pro forma information has been prepared as if the 2020 acquisitions had taken place on January 1, 2019, the 2019 acquisitions had taken place on January 1, 2018 and the 2018 acquisitions had taken place on January 1, 2017. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2019, 2018 and 2017 and the unaudited pro forma information does not purport to be indicative of future financial operating results (in thousands, except for per share data).


	December 31,
	2020		2019		2018
Net revenue	$	1,722,030	$	1,660,326	$	1,436,713
Net income	99,243		76,474		61,148
Basic net income per share	3.36		2.57		1.97
Diluted net income per share	3.34		2.56		1.96

Unaudited pro forma net income reflects additional intangible asset amortization expense of $5.4 million, $10.2 million and $6.2 million for the years ended December 31, 2020, 2019 and 2018, respectively, as well as additional income tax expense of $0.7 million, $3.0 million and $2.0 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Income Per Common Share	12 Months Ended
Income Per Common Share	Dec. 31, 2020
Earnings Per Share [Abstract]
Income Per Common Share	INCOME PER COMMON SHARE Basic net income per common share is calculated by dividing net income by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net income per common share is calculated by adjusting weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury stock method. Potential common stock is included in the diluted income per common share calculation when dilutive. The dilutive effect of outstanding restricted stock awards after application of the treasury stock method as of December 31, 2020, 2019 and 2018, was 213 thousand, 120 thousand and 122 thousand, respectively. Approximately four thousand shares of potential common stock was not included in the calculation of diluted net income per common share for the year ended December 31, 2020 because the effect would have been anti-dilutive.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On February 22, 2021, our board of directors authorized an extension of our stock repurchase program through March 1, 2022 and concurrently authorized an increase in the total amount of our outstanding common stock we can purchase up to $100.0 million. As a result of this extension, we have $100.0 million remaining on our stock repurchase program as of the date of filing of this Form 10-K. For further information about our stock repurchase program, see Note 12, Stockholder's Equity. In addition, we recently announced that our board of directors declared our first quarterly dividend, payable on March 31, 2021 at a rate of $0.30 per common share.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Consolidation

The accompanying consolidated financial statements include all of our wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. We elected to early adopt the Securities and Exchange Commission's ("SEC") amendments to Item 302(a) to replace the requirement for quarterly tabular disclosure with a principles-based requirement for material retrospective changes.

Use of Estimates

Cash and Cash Equivalents

We consider all highly-liquid investments purchased with original term to maturity of three months or less to be cash equivalents.

Revenue and Cost Recognition

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Derivative Instruments and Hedging Activities

Investment Policy

Business Combinations

Accounts Receivable

We account for trade receivables based on amounts billed to customers. Past due receivables are determined based on contractual terms. We do not accrue interest on any of our trade receivables.Retainage receivables represent the amount retained by our customers to ensure the quality of the installation and is received after satisfactory completion of each installation project. Management regularly reviews aging of retainage receivables and changes in payment trends and records an allowance when collection of amounts due are considered at risk.

Allowance for Doubtful Accounts

Concentration of Credit Risk

Inventories

Property and Equipment

Goodwill

Impairment of Other Intangible and Long-Lived Assets

Other intangible assets consist of customer relationships, backlog, non-competition agreements and business trademarks and trade names. Amortization of finite lived intangible assets is recorded to reflect the pattern of economic benefits based on projected revenues over their respective estimated useful lives (customer relationships – eight to 15 years, non-competition agreements – one to five years and business trademarks and trade names – two to 15 years). We do not have any indefinite-lived intangible assets other than goodwill.We review long-lived assets and intangible assets whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. An impairment loss is recognized when estimated future cash flows expected to result from the use of an asset and its eventual disposition are less than its carrying amount. When impairment is identified, the carrying amount of the asset is reduced to its estimated fair value. Assets to be disposed of are recorded at the lower of net book value or fair net realizable value less cost to sell at the date management commits to a plan of disposal.

Other Liabilities

known. We regularly monitor the potential for changes in estimates, evaluate our insurance accruals and adjust our recorded provisions.

Advertising Costs

Deferred Financing Costs

Leases

future payments. Leases with an initial term of 12 months or less are not recorded on the balance sheet as we recognize lease expense for these leases on a straight-line basis over the lease term.

Share-Based Compensation

Income Taxes

Recently Adopted Accounting Pronouncements

Standard

Effective Date

Adoption

ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)

January 1, 2020

ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

January 1, 2020

ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

January 1, 2020

ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)

Effective upon issuance

Recently Issued Accounting Pronouncements Not Yet Adopted

We are currently evaluating the impact of certain ASUs on our Consolidated Financial Statements or Notes to Consolidated Financial Statements, which are described below:

Standard

Description

Effective Date

Effect on the financial statements or
other significant matters

ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Annual periods beginning after December 15, 2020, including interim periods therein. Early adoption is permitted.

We do not expect ASU 2019-12 to have a material impact on our financial statements.

Fair Values

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets Measured at Fair Value on a Nonrecurring Basis

Estimated Fair Value of Financial Instruments

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Recently Adopted and Recently Issued Accounting Pronouncements

Standard

Effective Date

Adoption

ASU 2016-13, Financial Instruments-Credit Losses (Topic 326)

January 1, 2020

ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment

January 1, 2020

ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

January 1, 2020

ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848)

Effective upon issuance

Recently Issued Accounting Pronouncements Not Yet Adopted

We are currently evaluating the impact of certain ASUs on our Consolidated Financial Statements or Notes to Consolidated Financial Statements, which are described below:

Standard

Description

Effective Date

Effect on the financial statements or
other significant matters

ASU 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Annual periods beginning after December 15, 2020, including interim periods therein. Early adoption is permitted.

We do not expect ASU 2019-12 to have a material impact on our financial statements.

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Summary of Revenues Disaggregated by End Market and Product

The following tables present our revenues disaggregated by end market and product (in thousands):


	Years ended December 31,
	2020				2019				2018
Residential new construction	$	1,243,498	75	%	$	1,138,475	75	%	$	1,026,473	77	%
Repair and remodel	106,784		7	%	98,771		7	%	89,977		7	%
Commercial	302,943		18	%	274,383		18	%	219,982		16	%
Net revenues	$	1,653,225	100	%	$	1,511,629	100	%	$	1,336,432	100	%


	Years ended December 31,
	2020				2019				2018
Insulation	$	1,058,316	64	%	$	970,070	64	%	$	876,118	66	%
Waterproofing	122,962		7	%	112,075		7	%	97,683		7	%
Shower doors, shelving and mirrors	117,131		7	%	105,745		7	%	90,352		7	%
Garage doors	93,516		6	%	89,959		6	%	79,539		6	%
Rain gutters	62,672		4	%	49,788		3	%	44,203		3	%
Fireproofing/firestopping (1)	49,648		3	%	41,845		3	%	36,589		3	%
Window blinds	46,984		3	%	41,641		3	%	28,981		2	%
Other building products	101,996		6	%	100,506		7	%	82,967		6	%
Net revenues	$	1,653,225	100	%	$	1,511,629	100	%	$	1,336,432	100	%
(1) Combined with "Other building products" in previous years but shown separately to conform with updated disclosures

Summary of Assets and Liabilities Related to Uncompleted Contracts and Customer Deposits

Contract assets and liabilities related to our uncompleted contracts and customer deposits were as follows (in thousands):


	As of December 31,
	2020		2019
Contract assets	$	24,334	$	22,138
Contract liabilities	(8,965)		(8,888)

Schedule of Cost and Estimated Earnings on Uncompleted Contracts

Uncompleted contracts were as follows (in thousands):


	As of December 31,
	2020		2019
Costs incurred on uncompleted contracts	$	169,544	$	110,818
Estimated earnings	90,737		61,185
Total	260,281		172,003
Less: Billings to date	240,665		155,599
Net under billings	$	19,616	$	16,404

Schedule of Net Under Billings

Net under billings were as follows (in thousands):


	As of December 31,
	2020		2019
Costs and estimated earnings in excess of billings on uncompleted contracts (contract assets)	$	24,334	$	22,138
Billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities)	(4,718)		(5,734)
Net under billings	$	19,616	$	16,404

Credit Losses (Tables)

12 Months Ended

Dec. 31, 2020

Credit Loss [Abstract]

Schedule Of Changes In Allowance For Credit Losses

Changes in our allowance for credit losses were as follows (in thousands):


January 1, 2018	$	4,805
Current period provision	2,630
Recoveries collected and other	675
Amounts written off	(3,025)
December 31, 2018	$	5,085
Current period provision	4,312
Recoveries collected and other	1,269
Amounts written off	(3,788)
December 31, 2019	$	6,878
Cumulative effect of change in accounting principle	1,600
Current period provision	4,444
Recoveries collected and other	503
Amounts written off	(4,636)
December 31, 2020	$	8,789

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following (in thousands):


	As of December 31,
	2020		2019
Land	$	108	$	108
Buildings	3,901		3,901
Leasehold improvements	10,288		7,748
Furniture, fixtures and equipment	55,780		49,199
Vehicles and equipment	223,003		203,310
	293,080		264,266
Less: accumulated depreciation and amortization	(189,058)		(157,856)
	$	104,022	$	106,410

Schedule of Depreciation and Amortization Expense on Property and Equipment, by Income Statement Category

We recorded the following depreciation and amortization expense on our property and equipment, by income statement category (in thousands):


	Years ended December 31,
	2020		2019		2018
Cost of sales	$	39,011	$	36,922	$	31,526
Administrative	2,328		1,939		1,779

Goodwill and Intangibles (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Change in Carrying Amount of Goodwill

The change in carrying amount of goodwill was as follows (in thousands):


	Goodwill (Gross)		Accumulated Impairment Losses		Goodwill (Net)
January 1, 2019	$	243,053	$	(70,004)	$	173,049
Business combinations	22,405		—		22,405
Other	198		—		198
December 31, 2019	265,656		(70,004)		195,652
Business combinations	21,305		—		21,305
Other	(87)		—		(87)
December 31, 2020	$	286,874	$	(70,004)	$	216,870

Schedule of Gross Carrying Amount, Accumulated Amortization and Net Book Value

The following table provides the gross carrying amount, accumulated amortization and net book value for each major class of intangibles (in thousands):


	As of December 31,
	2020						2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Amortized intangibles:
Customer relationships	$	197,641	$	89,137	$	108,504	$	169,334	$	69,388	$	99,946
Covenants not-to-compete	20,309		13,436		6,873		16,959		10,617		6,342
Trademarks and tradenames	79,657		27,245		52,412		69,718		22,609		47,109
Backlog	18,847		15,243		3,604		14,080		13,915		165
	$	316,454	$	145,061	$	171,393	$	270,091	$	116,529	$	153,562

Schedule of Estimated Aggregate Annual Amortization

Remaining estimated aggregate annual amortization expense is as follows (in thousands):


2021			$32,357
2022			28,884
2023			25,447
2024			21,934
2025			16,529
Thereafter			46,242

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following (in thousands):


	As of December 31,
	2020		2019
Senior Notes due 2028, net of unamortized debt issuance costs of $4,230 and $4,823, respectively	$	295,770	$	295,177
Term loan, net of unamortized debt issuance costs of $1,343 and $1,662, respectively	198,657		198,338
Vehicle and equipment notes, maturing through December 2025; payable in various monthly installments, including interest rates ranging from 1.9% to 4.8%	67,493		72,714
Various notes payable, maturing through March 2025; payable in various monthly installments, including interest rates ranging from 2.0% to 5.0%	3,392		2,966
	565,312		569,195
Less: current maturities	(23,355)		(24,164)
Long-term debt, less current maturities	$	541,957	$	545,031

Schedule of Maturities of Long-term Debt

Remaining required repayments of debt principal, gross of unamortized debt issuance costs, as of December 31, 2020 are as follows (in thousands):


2021			$23,355
2022			19,642
2023			14,452
2024			8,545
2025			204,891
Thereafter			300,000

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Lease-Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheet:


(in thousands)	Classification	As of December 31, 2020		As of December 31, 2019
Assets
Non-Current
Operating	Operating lease right-of-use assets	$	53,766	$	45,691
Finance	Property and equipment, net	4,946		7,148
Total lease assets		$	58,712	$	52,839
Liabilities
Current
Operating	Current maturities of operating lease obligations	$	18,758	$	15,459
Financing	Current maturities of finance lease obligations	2,073		2,747
Non-Current
Operating	Operating lease obligations	34,413		29,785
Financing	Finance lease obligations	2,430		3,597
Total lease liabilities		$	57,674	$	51,588


Weighted-average remaining lease term
Operating leases	4.1 years		4.6 years
Finance leases	2.6 years		2.7 years
Weighted-average discount rate
Operating leases	3.67	%	4.67	%
Finance leases	5.08	%	4.85	%

Schedule of Lease Costs for Finance and Operating Leases

The table below presents certain information related to the lease costs for finance and operating leases during 2020 and 2019:


		Years ended December 31,
(in thousands)	Classification	2020		2019
Operating lease cost (1)	Administrative	$	23,454	$	21,024
Finance lease cost
Amortization of leased assets (2)	Cost of sales	3,645		4,942
Interest on finance lease obligations	Interest expense, net	268		341
Total lease costs		$	27,367	$	26,307

(2)Includes variable lease costs of $0.7 million and $0.9 million for the years ended December 31, 2020 and 2019 respectively.

The table below presents supplemental cash flow information related to leases during 2020 and 2019 (in thousands):


	Years ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	19,668	$	17,521
Operating cash flows for finance leases	268		341
Financing cash flows for finance leases	2,632		4,157

Schedule of Undiscounted Cash Flows Finance Lease Obligations


	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
2021	$	2,315	$	1,061	$	19,296	$	20,357
2022	1,228		986		13,929		14,915
2023	867		534		8,630		9,164
2024	453		548		4,010		4,558
2025	85		561		2,358		2,919
Thereafter	—		526		5,097		5,623
Total minimum lease payments	4,948		$	4,216	$	53,320	57,536
Less: Amounts representing executory costs	(88)						—
Less: Amounts representing interest	(357)						(4,365)
Present value of future minimum lease payments	4,503						53,171
Less: Current obligation under leases	(2,073)						(18,758)
Long-term lease obligations	$	2,430					$	34,413

Schedule of Undiscounted Cash Flows Operating Lease Obligations


	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
2021	$	2,315	$	1,061	$	19,296	$	20,357
2022	1,228		986		13,929		14,915
2023	867		534		8,630		9,164
2024	453		548		4,010		4,558
2025	85		561		2,358		2,919
Thereafter	—		526		5,097		5,623
Total minimum lease payments	4,948		$	4,216	$	53,320	57,536
Less: Amounts representing executory costs	(88)						—
Less: Amounts representing interest	(357)						(4,365)
Present value of future minimum lease payments	4,503						53,171
Less: Current obligation under leases	(2,073)						(18,758)
Long-term lease obligations	$	2,430					$	34,413

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Values of Financial Assets and Liabilities

The fair values of financial assets and liabilities that are recorded at fair value in the Consolidated Balance Sheets and not described above were as follows (in thousands):


	As of December 31, 2020								As of December 31, 2019
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Financial assets:
Cash equivalents	$	170,398	$	170,398	$	—	$	—	$	99,242	$	99,242	$	—	$	—
Derivative financial instruments	5,130		—		5,130		—		—		—		—		—
Total financial assets	$	175,528	$	170,398	$	5,130	$	—	$	99,242	$	99,242	$	—	$	—
Financial liabilities:
Contingent consideration	$	4,004	$	—	$	—	$	4,004	$	3,854	$	—			$	3,854
Derivative financial instruments	324		—		324		—		9,446		—		9,446		—
Total financial liabilities	$	4,328	$	—	$	324	$	4,004	$	13,300	$	—	$	9,446	$	3,854

Change in Fair Value of the Contingent Consideration

The change in fair value of the contingent consideration (a Level 3 input) was as follows (in thousands):


Contingent consideration liability—January 1, 2020	$	3,854
Preliminary purchase price	3,813
Fair value adjustments	(473)
Accretion in value	631
Amounts cancelled	(188)
Amounts paid to sellers	(3,633)
Contingent consideration liability—December 31, 2020	$	4,004

Summary of Carrying Values and Associated Fair Values of Financial Assets and Liabilities


	As of December 31, 2020				As of December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Investments	$	—	$	—	$	37,961	$	37,958
Senior Notes (1)	300,000		320,013		300,000		321,114

(1)Excludes the impact of unamortized debt issuance costs.

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2020

Postemployment Benefits [Abstract]

Summary of Workers' Compensation Known Claims and IBNR Reserves

Workers’ compensation known claims and IBNR reserves included on the Consolidated Balance Sheets were as follows (in thousands):


	As of December 31,
	2020		2019
Included in other current liabilities	$	7,703	$	6,777
Included in other long-term liabilities	11,986		10,874
	$	19,689	$	17,651

Schedule of Insurance Receivable for Claims

This receivable offsets an equal liability included within the reserve amounts noted above and was as follows (in thousands):


	As of December 31,
	2020		2019
Included in other non-current assets	$	1,854	$	2,098

Contributions to Multiemployer Pensions and Health and Welfare Benefit Plans

Our contributions to multiemployer pension and health and welfare benefit plans were as follows (in thousands):


	Years ended December 31,
	2020		2019		2018
Pension plans	$	1,128	$	809	$	871
Health & welfare plans	952		674		724
Total contributions	$	2,080	$	1,483	$	1,595

Summary of Equity-Based Awards for Employees

Amounts and changes for each category of equity-based award were as follows:


	Common Stock Awards			Performance-Based Stock Awards			Performance-Based Restricted Stock Units
	Awards	Weighted Average Grant Date Fair Value Per Share		Awards	Weighted Average Grant Date Fair Value Per Share		Units	Weighted Average Grant Date Fair Value Per Share
Nonvested awards/units at December 31, 2019	152,882	$	52.93	160,289	$	50.49	13,186	$	51.62
Granted	174,445	44.56		61,174	77.20		13,655	36.51
Vested	(90,870)	49.69		(54,502)	51.43		(13,077)	51.50
Forfeited/Cancelled	(5,177)	45.94		—	—		(491)	42.94
Nonvested awards/units at December 31, 2020	231,280	$	48.05	166,961	$	59.97	13,273	$	36.51

Summary of Stock Compensation Expenses

The following table summarizes the share-based compensation expense recognized under our 2014 Omnibus Incentive Plan (in thousands):


	Years ended December 31,
	2020		2019		2018
Common Stock Awards	$	4,116	$	4,242	$	3,847
Non-Employee Common Stock Awards	333		359		177
Performance-Based Stock Awards	3,869		3,034		2,041
Liability Performance-Based Stock Awards	1,969		432		163
Performance-Based Restricted Stock Units	539		660		1,618
	$	10,826	$	8,727	$	7,846

We recorded the following stock compensation expense, by income statement category (in thousands):


	Years ended December 31,
	2020		2019		2018
Cost of sales	$	284	$	374	$	846
Selling	202		194		451
Administrative	10,340		8,159		6,549
	$	10,826	$	8,727	$	7,846

Unrecognized Share-Based Compensation Expense Related to Unvested Awards

Unrecognized share-based compensation expense related to unvested awards was as follows (in thousands):


	As of December 31, 2020
	Unrecognized Compensation Expense on Unvested Awards		Weighted Average Remaining Vesting Period
Common Stock Awards	$	7,162	1.9 years
Performance-Based Stock Awards	4,310		1.6 years
Performance-Based Restricted Stock Units	137		0.3 years
Total unrecognized compensation expense related to unvested awards	$	11,609

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=35742348&loc=SL14450788-114948

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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-Section 50
-Paragraph 5
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 9
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
-Paragraph 5
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes is comprised of (in thousands):


	Years ended December 31,
	2020		2019		2018
Current:
Federal	$	33,495	$	14,850	$	13,486
State	8,918		4,127		3,641
	42,413		18,977		17,127
Deferred:
Federal	(7,177)		4,585		221
State	(1,298)		884		90
	(8,475)		5,469		311
Total tax expense	$	33,938	$	24,446	$	17,438

Reconciliation Between Effective Tax Rate on Net Income (Loss) and Federal Statutory Tax Rate

The reconciliation between our effective tax rate on net income and the federal statutory rate is as follows (dollars in thousands):


	Years ended December 31,
	2020				2019				2018
Income tax at federal statutory rate	$	27,547	21.0	%	$	19,447	21.0	%	$	15,159	21.0	%
Stock compensation	331		0.3	%	(255)		(0.3)	%	(436)		(0.6)	%

Other permanent items	424		0.3	%	737		0.8	%	(667)		(0.8)	%
Change in valuation allowance	(207)		(0.2)	%	276		0.3	%	312		0.4	%
Change in uncertain tax positions	65		0.1	%	67		0.1	%	969		1.3	%
State income taxes, net of federal benefit	5,778		4.4	%	4,174		4.5	%	2,911		4.0	%
Rate impact of the Tax Act	—		—	%	—		—	%	(810)		(1.1)	%
Total tax expense	$	33,938	25.9	%	$	24,446	26.4	%	$	17,438	24.2	%

Net Deferred Tax Asset or Liability

Components of the net deferred tax asset or liability are as follows (in thousands):


	As of December 31,
	2020		2019
Deferred Tax Assets
Long-term
Accrued liabilities and allowances	$	9,106	$	5,140
Allowance for doubtful accounts	987		514
Inventories	402		437
Property and equipment	280		303
Intangibles	6,582		5,615
Net operating loss carryforwards	1,206		1,240
Other	16		5
Long-term deferred tax assets	18,579		13,254
Less: Valuation allowance	(1,263)		(1,512)
Net deferred tax assets	17,316		11,742
Deferred Tax Liabilities
Long-term
Accrued liabilities and allowances	(151)		(252)
Property and equipment	(4,587)		(4,176)
Intangibles	(4,810)		(4,307)
Investment in partnership	(6,660)		(11,857)
Other	(650)		(325)
Long-term deferred tax liabilities	(16,858)		(20,917)
Net deferred tax assets (liabilities)	$	458	$	(9,175)

Rollforward of Gross Unrecognized Tax Benefits

A rollforward of the gross unrecognized tax benefits is as follows (in thousands):


Unrecognized tax benefit, January 1, 2018	$	4,450
Increase as a result of tax positions taken during the period	3,846
Decrease as a result of tax positions taken during the period	(2,850)
Decrease as a result of expiring statutes	(97)
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2018	$	5,349

Increase as a result of tax positions taken during the period	2,866
Decrease as a result of tax positions taken during the period	(2,482)
Decrease as a result of expiring statutes	(16)
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2019	$	5,717

Increase as a result of tax positions taken during the period	3,822
Decrease as a result of tax positions taken during the period	(2,873)
Increase as a result of expiring statutes	10
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2020	$	6,676

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Common or Related Party Transactions

The amount of sales to common or related parties as well as the purchases from and rent expense paid to common or related parties were as follows (in thousands):


	Years ended December 31,
	2020		2019		2018
Sales	$	3,987	$	13,488	$	12,636
Purchases	1,841		1,810		1,587
Rent	1,125		1,040		1,099

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Accrued General Insurance Reserves

Accrued general liability and auto insurance reserves included on the Consolidated Balance Sheets were as follows (in thousands):


	As of December 31,
	2020		2019
Included in other current liabilities	$	5,102	$	3,538
Included in other long-term liabilities	16,440		18,184
	$	21,542	$	21,722

Schedule of Insurance Receivable for Claims


	As of December 31,
	2020		2019
Insurance receivables and indemnification assets for claims under fully insured policies	$	4,400	$	7,491
Insurance receivables for claims that exceeded the stop loss limit	328		2,321
Total insurance receivables and indemnification assets included in other non-current assets	$	4,728	$	9,812

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Business Combinations

For the year ended December 31, 2020 (in thousands):


2020 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
Royals	2/29/2020	Asset	$	7,590	$	2,500	$	10,090	$	11,095	$	1,332
Energy One	8/10/2020	Asset	13,200		1,591		14,791		7,454		(558)
Storm Master	8/31/2020	Asset	13,000		1,336		14,336		8,131		619
ICON	10/13/2020	Asset	16,900		3,598		20,498		4,798		449
Norkote	10/26/2020	Asset	8,725		2,426		11,151		2,702		417
WeatherSeal	11/16/2020	Asset	9,500		922		10,422		766		(23)
Other	Various	Asset	7,531		1,713		9,244		5,548		(344)
Total			$	76,446	$	14,086	$	90,532	$	40,494	$	1,892

For the year ended December 31, 2019 (in thousands):


2019 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
1st State Insulation	3/18/2019	Asset	$	5,125	$	1,355	$	6,480	$	9,828	$	476
Expert Insulation	6/24/2019	Asset	16,165		1,993		18,158		6,484		155
Premier	11/18/2019	Share	25,000		2,765		27,765		2,161		(62)
Other	Various	Asset	5,750		1,430		7,180		3,339		23
Total			$	52,040	$	7,543	$	59,583	$	21,812	$	592

For the year ended December 31, 2018 (in thousands):


2018 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
CDG	3/19/2018	Asset	$	9,440	$	1,973	$	11,413	$	11,466	$	531
AFT	10/31/2018	Asset	19,707		1,510		21,217		3,530		(13)
Other	Various	Shares/Asset	28,593		4,057		32,650		24,329		639
Total			$	57,740	$	7,540	$	65,280	$	39,325	$	1,157

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following (in thousands):


	2020
	Royals		Energy One		Storm Master		ICON		Norkote		WeatherSeal		Other		Total
Estimated fair values:

Accounts receivable	$	2,848	$	3,357	$	2,362	$	4,828	$	1,926	$	865	$	1,419	$	17,605
Inventories	305		838		175		243		444		156		$	600	$	2,761
Other current assets	430		12		—		675		178		14		$	145	$	1,454
Property and equipment	598		2,319		798		380		584		520		$	663	$	5,862
Intangibles	3,930		6,500		8,720		11,830		5,310		5,450		$	4,483	$	46,223
Goodwill	3,015		3,253		3,631		2,870		2,841		3,472		$	2,223	$	21,305
Other non-current assets	58		—		—		145		—		—		$	38	$	241
Accounts payable and other current liabilities	(1,059)		(1,469)		(1,336)		(445)		(86)		(50)		$	(196)	$	(4,641)

Other long-term liabilities	(35)		(19)		(14)		(28)		(46)		(5)		$	(131)	$	(278)
Fair value of assets acquired and purchase price	10,090		14,791		14,336		20,498		11,151		10,422		9,244		90,532
Less seller obligations	2,500		1,591		1,336		3,598		2,426		922		1,713		14,086
Cash paid	$	7,590	$	13,200	$	13,000	$	16,900	$	8,725	$	9,500	$	7,531	$	76,446


	2019
	1st State		Expert		Premier		Other		Total
Estimated fair values:
Cash	—		—		$	334	—		$	334
Accounts receivable	—		1,796		2,929		479		5,204
Inventories	291		723		1,242		410		2,666
Other current assets	—		—		—		3		3
Property and equipment	989		235		876		887		2,987
Intangibles	3,382		6,740		14,300		3,619		28,041
Goodwill	1,857		8,545		10,151		1,765		22,318
Other non-current assets	—		161		329		41		531
Accounts payable and other current liabilities	(39)		(42)		(2,396)		(24)		(2,501)

Fair value of assets acquired and purchase price	6,480		18,158		27,765		7,180		59,583
Less seller obligations	1,355		1,993		2,765		1,430		7,543
Cash paid	$	5,125	$	16,165	$	25,000	$	5,750	$	52,040


	2018
	CDG		AFT	Other		Total
Estimated fair values:
Accounts receivable	$	1,731	—	$	4,104	$	5,835
Inventories	514		565	1,136		2,215
Other current assets	28		—	918		946
Property and equipment	933		2,882	2,169		5,984
Intangibles	3,711		13,470	18,904		36,085
Goodwill	4,898		4,415	7,766		17,079
Other non-current assets	36		13	82		131
Accounts payable and other current liabilities	(438)		(128)	(2,429)		(2,995)
Fair value of assets acquired and purchase price	11,413		21,217	32,650		65,280

Less seller obligations	1,973		1,510	4,057		7,540
Cash paid	$9,440		$19,707	$28,593		$57,740

Estimates of Acquired Intangible Assets

Estimates of acquired intangible assets related to the acquisitions are as follows (dollars in thousands):


	2020			2019			2018
Acquired intangibles assets	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)
Customer relationships	$	28,307	8	$	20,659	8	$	27,149	8
Trademarks and trade names	9,834		15	5,286		15	6,075		15
Non-competition agreements	3,315		5	2,096		5	2,401		5
Backlog	4,767		1.5	—		—	460		2

Pro Forma Results of Operations


	December 31,
	2020		2019		2018
Net revenue	$	1,722,030	$	1,660,326	$	1,436,713
Net income	99,243		76,474		61,148
Basic net income per share	3.36		2.57		1.97
Diluted net income per share	3.34		2.56		1.96

Organization - Additional Information (Detail)	12 Months Ended
Organization - Additional Information (Detail)	Dec. 31, 2020 location segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of locations the company operates \| location	190
Number of operating segment	1
Number of reportable segment	1

Significant Accounting Policies (Detail) - USD ($)	12 Months Ended
Significant Accounting Policies (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies and General Information [Line Items]
Customer relationships, net	$ 171,393,000	$ 153,562,000
Amount insured by FDIC	250,000
Impairment of long-lived assets	0	0	$ 0
Insurance cost of claims	19,689,000	17,651,000
Advertising expenses	3,900,000	3,900,000	3,800,000
Deferred financing costs	7,000,000.0	8,200,000
Amortization expense related to financing costs	1,300,000	1,200,000	1,200,000
Write-off of debt issuance costs, included in interest expense	0	3,725,000	1,164,000
Costs incurred associated with debt-related financing transactions	200,000
Senior Secured Credit Agreement
Accounting Policies and General Information [Line Items]
Deferred financing costs		400,000	$ 1,100,000
Write-off of debt issuance costs, included in interest expense		3,300,000
Workers' Compensation Insurance
Accounting Policies and General Information [Line Items]
Insurance cost of claims	800,000
Vehicles Insurance
Accounting Policies and General Information [Line Items]
Insurance cost of claims	$ 1,000,000.0
Buildings
Accounting Policies and General Information [Line Items]
Estimated useful life	30 years
Maximum \| General Liability Insurance Program
Accounting Policies and General Information [Line Items]
Insurance cost of claims	$ 2,000,000.0
Aggregate cap of insurance cost of claims	$ 8,000,000.0
Maximum \| Vehicles
Accounting Policies and General Information [Line Items]
Estimated useful life	5 years
Maximum \| Leasehold improvements
Accounting Policies and General Information [Line Items]
Estimated useful life	5 years
Maximum \| Furniture, fixtures and equipment
Accounting Policies and General Information [Line Items]
Estimated useful life	5 years
Minimum \| Furniture, fixtures and equipment
Accounting Policies and General Information [Line Items]
Estimated useful life	3 years
Other Non-Current Assets
Accounting Policies and General Information [Line Items]
Retainage receivables	$ 300,000
Accounts Receivable
Accounting Policies and General Information [Line Items]
Accounts receivable	$ 41,700,000	$ 33,400,000
Accounts Receivable \| Customer Concentration Risk \| Maximum
Accounting Policies and General Information [Line Items]
Customer concentration risk, percentage	3.00%	3.00%	3.00%
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Accounting Policies and General Information [Line Items]
Customer concentration risk, percentage	100.00%	100.00%	100.00%
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk \| Maximum
Accounting Policies and General Information [Line Items]
Customer concentration risk, percentage	5.00%	5.00%	5.00%
Customer relationships
Accounting Policies and General Information [Line Items]
Customer relationships, net	$ 108,504,000	$ 99,946,000
Customer relationships \| Maximum
Accounting Policies and General Information [Line Items]
Estimated useful life	15 years
Customer relationships \| Minimum
Accounting Policies and General Information [Line Items]
Estimated useful life	8 years
Covenants not-to-compete
Accounting Policies and General Information [Line Items]
Customer relationships, net	$ 6,873,000	6,342,000
Covenants not-to-compete \| Maximum
Accounting Policies and General Information [Line Items]
Estimated useful life	5 years
Covenants not-to-compete \| Minimum
Accounting Policies and General Information [Line Items]
Estimated useful life	1 year
Trademarks and tradenames
Accounting Policies and General Information [Line Items]
Customer relationships, net	$ 52,412,000	47,109,000
Trademarks and tradenames \| Maximum
Accounting Policies and General Information [Line Items]
Estimated useful life	15 years
Trademarks and tradenames \| Minimum
Accounting Policies and General Information [Line Items]
Estimated useful life	2 years
Adjustment \| Customer relationships
Accounting Policies and General Information [Line Items]
Customer relationships, net		$ 99,946,000

Revenue Recognition - Summary of Revenues Disaggregated by End Market and Product (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,653,225	$ 1,511,629	$ 1,336,432
Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	100.00%	100.00%	100.00%
Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	100.00%	100.00%	100.00%
Insulation
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,058,316	$ 970,070	$ 876,118
Insulation \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	64.00%	64.00%	66.00%
Waterproofing
Disaggregation of Revenue [Line Items]
Net revenue	$ 122,962	$ 112,075	$ 97,683
Waterproofing \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	7.00%	7.00%	7.00%
Shower doors, shelving and mirrors
Disaggregation of Revenue [Line Items]
Net revenue	$ 117,131	$ 105,745	$ 90,352
Shower doors, shelving and mirrors \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	7.00%	7.00%	7.00%
Garage doors
Disaggregation of Revenue [Line Items]
Net revenue	$ 93,516	$ 89,959	$ 79,539
Garage doors \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	6.00%	6.00%	6.00%
Rain gutters
Disaggregation of Revenue [Line Items]
Net revenue	$ 62,672	$ 49,788	$ 44,203
Rain gutters \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	4.00%	3.00%	3.00%
Fireproofing/firestopping
Disaggregation of Revenue [Line Items]
Net revenue	$ 49,648	$ 41,845	$ 36,589
Fireproofing/firestopping \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	3.00%	3.00%	3.00%
Window blinds
Disaggregation of Revenue [Line Items]
Net revenue	$ 46,984	$ 41,641	$ 28,981
Window blinds \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	3.00%	3.00%	2.00%
Other building products
Disaggregation of Revenue [Line Items]
Net revenue	$ 101,996	$ 100,506	$ 82,967
Other building products \| Revenue from Contract with Customer, Product and Service Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	6.00%	7.00%	6.00%
Residential new construction
Disaggregation of Revenue [Line Items]
Net revenue	$ 1,243,498	$ 1,138,475	$ 1,026,473
Residential new construction \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	75.00%	75.00%	77.00%
Repair and remodel
Disaggregation of Revenue [Line Items]
Net revenue	$ 106,784	$ 98,771	$ 89,977
Repair and remodel \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	7.00%	7.00%	7.00%
Commercial
Disaggregation of Revenue [Line Items]
Net revenue	$ 302,943	$ 274,383	$ 219,982
Commercial \| Revenue from Contract with Customer Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	18.00%	18.00%	16.00%

Revenue Recognition - Summary of Assets and Liabilities Related to Uncompleted Contracts and Customer Deposits (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract assets	$ 24,334	$ 22,138
Contract liabilities	$ (8,965)	$ (8,888)

Revenue Recognition - Schedule of Cost and Estimated Earnings on Uncompleted Contracts (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contractors [Abstract]
Costs incurred on uncompleted contracts	$ 169,544	$ 110,818
Estimated earnings	90,737	61,185
Total	260,281	172,003
Less: Billings to date	240,665	155,599
Net under billings	$ 19,616	$ 16,404

Revenue Recognition - Schedule of Net Under (Over) Billings (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contractors [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts (contract assets)	$ 24,334	$ 22,138
Billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities)	(4,718)	(5,734)
Net under billings	$ 19,616	$ 16,404

Revenue Recognition - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract liability revenue recognized	$ 7,800,000
Impairment losses on receivables and contract assets	0	$ 0
Transaction price allocated to uncompleted contracts	$ 78,500,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected time of revenue recognition	18 months

Credit Losses - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Loss [Line Items]
Stockholders' equity	$ 319,182		$ 250,031	$ 182,498	$ 210,528
Retained Earnings
Financing Receivable, Allowance for Credit Loss [Line Items]
Stockholders' equity	$ 269,420		173,371	$ 105,212	48,434
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Stockholders' equity			(1,190)		2,142
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Financing Receivable, Allowance for Credit Loss [Line Items]
Stockholders' equity			$ (1,190)		$ 2,030
Accounting Standards Update 2016-13
Financing Receivable, Allowance for Credit Loss [Line Items]
Cumulative effect on retained earnings, tax		$ 400
Accounting Standards Update 2016-13 \| Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
Financing Receivable, Allowance for Credit Loss [Line Items]
Stockholders' equity		$ (1,200)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Credit Losses - Schedule of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6,878	$ 5,085	$ 4,805
Current period provision	4,444	4,312	2,630
Recoveries collected and other	503	1,269	675
Amounts written off	(4,636)	(3,788)	(3,025)
Ending balance	8,789	6,878	$ 5,085
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,600
Ending balance		$ 1,600

Investments - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 170,400,000	$ 99,200,000
Held-to-Maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Investments	$ 0	$ 38,000,000.0

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 293,080	$ 264,266
Less: accumulated depreciation and amortization	(189,058)	(157,856)
Property and equipment, net	104,022	106,410
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	108	108
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,901	3,901
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,288	7,748
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	55,780	49,199
Vehicles and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 223,003	$ 203,310

Property and Equipment - Schedule of Depreciation and Amortization Expense on Property and Equipment, by Income Statement Category (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 41,339	$ 38,862	$ 33,306
Cost of sales
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	39,011	36,922	31,526
Administrative
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 2,328	$ 1,939	$ 1,779

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property and equipment fully depreciated	$ 98.0	$ 72.7

Goodwill and Intangibles - Summary of Change in Carrying Amount of Goodwill, Gross (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill (Gross), beginning balance	$ 265,656	$ 243,053
Goodwill (Net), beginning balance	195,652	173,049
Business combinations	21,305	22,405
Other	(87)	198
Goodwill (Gross), ending balance	286,874	265,656
Goodwill (Net), ending balance	216,870	195,652
Accumulated Impairment Losses	$ (70,004)	$ (70,004)	$ (70,004)

Goodwill and Intangibles - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0
Intangible asset impairment	0	0	0
Increase in gross carrying amount of intangibles	46,400,000	28,300,000
Intangibles on business combination	46,200,000	28,000,000.0
Amortization of intangibles	$ 28,535,000	$ 24,510,000	$ 25,419,000

Goodwill and Intangibles - Schedule of Gross Carrying Amount and Accumulated Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 316,454	$ 270,091
Accumulated Amortization	145,061	116,529
Net Book Value	171,393	153,562
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	197,641	169,334
Accumulated Amortization	89,137	69,388
Net Book Value	108,504	99,946
Covenants not-to-compete
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	20,309	16,959
Accumulated Amortization	13,436	10,617
Net Book Value	6,873	6,342
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	79,657	69,718
Accumulated Amortization	27,245	22,609
Net Book Value	52,412	47,109
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,847	14,080
Accumulated Amortization	15,243	13,915
Net Book Value	$ 3,604	$ 165

Goodwill and Intangibles - Schedule of Estimated Aggregate Annual Amortization (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Finite Lived Intangible Assets Net Amortization Expense Rolling Maturity [Abstract]
2021	$ 32,357
2022	28,884
2023	25,447
2024	21,934
2025	16,529
Thereafter	$ 46,242

Long-term Debt - Schedule of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Debt Instrument [Line Items]
Total long term debt	$ 565,312	$ 569,195
Less: current maturities	(23,355)	(24,164)
Long-term debt, less current maturities	541,957	545,031
Senior Notes \| 5.75% Senior Notes Due 2028
Debt Instrument [Line Items]
Total long term debt	295,770	295,177
Unamortized debt issuance costs	$ 4,230	4,823
Notes payable Interest rate	5.75%		5.75%
Medium-term Notes \| Term Loan Agreement
Debt Instrument [Line Items]
Total long term debt	$ 198,657	198,338
Unamortized debt issuance costs	1,343	1,662
Notes Payable
Debt Instrument [Line Items]
Total long term debt	$ 3,392	2,966
Notes Payable \| Minimum
Debt Instrument [Line Items]
Notes payable Interest rate	2.00%
Notes Payable \| Maximum
Debt Instrument [Line Items]
Notes payable Interest rate	5.00%
Notes Payable \| Vehicle and Equipment
Debt Instrument [Line Items]
Total long term debt	$ 67,493	$ 72,714
Notes Payable \| Vehicle and Equipment \| Minimum
Debt Instrument [Line Items]
Notes payable Interest rate	1.90%
Notes Payable \| Vehicle and Equipment \| Maximum
Debt Instrument [Line Items]
Notes payable Interest rate	4.80%

Long-Term Debt - Schedule Of Maturities of Long Term Debt (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Maturities of Long-term Debt [Abstract]
2021	$ 23,355
2022	19,642
2023	14,452
2024	8,545
2025	204,891
Thereafter	$ 300,000

Long-term Debt - Additional Information (Detail) - USD ($)		1 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020
Debt Instrument [Line Items]
Term loan facility maturity period		5 years
Deferred financing costs and debt issuance costs, net	$ 8,200,000		$ 7,000,000.0
Assets relating to master loan agreements, Gross	264,266,000		293,080,000
Capital leased assets, net book value	106,410,000		104,022,000
Vehicle and Equipment
Debt Instrument [Line Items]
Assets relating to master loan agreements, Gross	130,200,000		132,200,000
Capital leased assets, net book value	68,200,000		$ 65,700,000
Master Loan Agreements
Debt Instrument [Line Items]
Term loan facility maturity period			60 months
5.75% Senior Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Notes payable Interest rate		5.75%	5.75%
Debt instrument, face amount		$ 300,000,000.0
Debt instrument, Frequency of periodic payment of interest			semi-annually
Proceeds from senior note issuance		$ 295,000,000.0
Market capitalization (as percent)		2.00%
Term Loan Amendment Agreement
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000
Term loan facility maturity period	7 years
Term Loan Amendment Agreement \| Term Loan
Debt Instrument [Line Items]
Margin interest rate percentage	1.25%
Deferred financing costs and debt issuance costs, net			$ 198,700,000
Term Loan Amendment Agreement \| Term Loan \| LIBOR \| Minimum
Debt Instrument [Line Items]
Margin interest rate percentage	2.25%
Term Loan Amendment Agreement \| Term Loan \| LIBOR \| Maximum
Debt Instrument [Line Items]
Margin interest rate percentage	2.50%
ABL Credit Agreement
Debt Instrument [Line Items]
Market capitalization (as percent)		2.00%
Fixed charge coverage ratio		1.0
ABL Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Remaining borrowing availability			161,200,000
ABL Credit Agreement \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Margin interest rate percentage		1.25%
ABL Credit Agreement \| Eurodollar \| Maximum
Debt Instrument [Line Items]
Margin interest rate percentage		1.50%
ABL Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Margin interest rate percentage		0.25%
ABL Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Margin interest rate percentage		0.50%
ABL Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 200,000,000.0
Borrowings outstanding			$ 64,100,000
ABL Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		75,000,000.0
ABL Credit Agreement \| Incremental Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		50,000,000.0
ABL Credit Agreement \| Swing Line Loans
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		$ 20,000,000.0

Leases - Schedule of Supplemental Balance Sheet In formation Related To Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-Current
Operating	$ 53,766	$ 45,691
Finance	4,946	7,148
Total lease assets	$ 58,712	52,839
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Current
Operating	$ 18,758	15,459
Financing	2,073	2,747
Non-Current
Operating lease obligations	34,413	29,785
Finance lease obligations	2,430	3,597
Total lease liabilities	$ 57,674	$ 51,588
Weighted-average remaining lease term
Operating leases (in years)	4 years 1 month 6 days	4 years 7 months 6 days
Finance leases (in years)	2 years 7 months 6 days	2 years 8 months 12 days
Weighted-average discount rate
Operating leases (as percent)	3.67%	4.67%
Finance leases (as percent)	5.08%	4.85%

Leases - Lease Cost Finance and Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 23,454	$ 21,024
Finance lease cost
Amortization of leased assets	3,645	4,942
Interest on finance lease obligations	268	341
Total lease costs	27,367	26,307
Operating Lease
Finance lease cost
Variable lease costs	2,900	2,500
Short-term lease costs	800	900
Finance Lease
Finance lease cost
Variable lease costs	$ 700	$ 900

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 19,668	$ 17,521
Operating cash flows for finance leases	268	341
Financing cash flows for finance leases	$ 2,632	$ 4,157	$ 5,604

Leases - Finance Lease Obligations and Operating Lease Obligations (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance Leases
2021	$ 2,315
2022	1,228
2023	867
2024	453
2025	85
Thereafter	0
Total minimum lease payments	4,948
Less: Amounts representing executory costs	(88)
Less: Amounts representing interest	(357)
Present value of future minimum lease payments	4,503
Less: Current obligation under leases	(2,073)	$ (2,747)
Long-term lease obligations	2,430	3,597
Operating Leases
2021	20,357
2022	14,915
2023	9,164
2024	4,558
2025	2,919
Thereafter	5,623
Total minimum lease payments	57,536
Less: Amounts representing interest	(4,365)
Present value of future minimum lease payments	53,171
Less: Current obligation under leases	(18,758)	(15,459)
Long-term lease obligations	34,413	$ 29,785
Related Party
Operating Leases
2021	1,061
2022	986
2023	534
2024	548
2025	561
Thereafter	526
Total minimum lease payments	4,216
Other
Operating Leases
2021	19,296
2022	13,929
2023	8,630
2024	4,010
2025	2,358
Thereafter	5,097
Total minimum lease payments	$ 53,320

Fair Value Measurements - Schedule of Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financial assets:
Cash equivalents	$ 170,398	$ 99,242
Derivative financial instruments	5,130	0
Total financial assets	175,528	99,242
Financial liabilities:
Contingent consideration	4,004	3,854
Derivative financial instruments	324	9,446
Total financial liabilities	4,328	13,300
Level 1
Financial assets:
Cash equivalents	170,398	99,242
Derivative financial instruments	0	0
Total financial assets	170,398	99,242
Financial liabilities:
Contingent consideration	0	0
Derivative financial instruments	0	0
Total financial liabilities	0	0
Level 2
Financial assets:
Cash equivalents	0	0
Derivative financial instruments	5,130	0
Total financial assets	5,130	0
Financial liabilities:
Contingent consideration	0
Derivative financial instruments	324	9,446
Total financial liabilities	324	9,446
Level 3
Financial assets:
Cash equivalents	0	0
Derivative financial instruments	0	0
Total financial assets	0	0
Financial liabilities:
Contingent consideration	4,004	3,854
Derivative financial instruments	0	0
Total financial liabilities	$ 4,004	$ 3,854

Fair value measurements - Summary of Change in Fair Value of Contingent Consideration (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 3,854
Preliminary purchase price	3,813
Fair value adjustments	(473)
Accretion in value	631
Amounts cancelled	(188)
Amounts paid to sellers	(3,633)
Ending Balance	$ 4,004

Fair Value measurements - Summary of Carrying Values and Associated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 0	$ 37,958
Level 2 \| 5.75% Senior Notes Due 2028
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	320,013	321,114
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	37,961
Carrying Value \| 5.75% Senior Notes Due 2028
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior Notes	$ 300,000	$ 300,000

Derivative and Hedging Activities - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash flow hedge gain (loss) to be reclassified	$ 3,400
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash flow hedge gain (loss) to be reclassified	1,300
Interest Rate Swap \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification from accumulated other comprehensive income to interest expense	3,500
Interest Rate Swap \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Aggregate cash payments on swap termination	17,800
Unrealized loss included in accumulated other comprehensive loss associated with the terminated swaps	17,800
Notional amount of derivative instruments	$ 200,000
Interest rate of derivative instruments	0.51%
Term Loan
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of swaps \| swap	2

Stockholder's Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019	Nov. 06, 2018	Mar. 02, 2018
Statement Of Shareholders Equity [Line Items]
Accumulated other comprehensive loss	$ (8,763,000)		$ (7,143,000)
Unrealized gain (loss) interest rate swaps	(12,200,000)
Cash flow hedge gain (loss) to be reclassified	3,400,000
Share repurchase, amount	$ 33,924,000	$ 89,362,000
2018 Stock Repurchase Plan
Statement Of Shareholders Equity [Line Items]
Stock repurchase program, authorized					$ 50,000,000
Common stock repurchase (in shares)	633
Share repurchase, amount	$ 33,900,000
Share repurchase, price per share	$ 53.57
Stock repurchase program, remaining authorized repurchase amount	$ 26,700,000
2018 Stock Repurchase Plan \| Board of Directors \| Maximum
Statement Of Shareholders Equity [Line Items]
Stock repurchase program, authorized				$ 100,000,000

Employee Benefits - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) installment shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($) shares
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Healthcare benefit expense, net of employee contributions \| $	$ 24,100	$ 21,900	$ 17,800
Accrued compensation \| $	45,876	33,636
Administration expense related to employee contribution plan \| $	$ 2,200	$ 2,000	$ 1,700
Share-based awards granted (in shares)	200,000	100,000	100,000
Vesting period (in years)	3 years
Share based compensation, recognized tax benefits \| $	$ 300	$ 300	$ 500
2014 Omnibus Incentive Plan
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Common stock shares available for issuance (in shares)	2,000,000.0
Common stock shares authorized (in shares)	3,000,000.0
Common Stock
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Number of equal installments \| installment	3
Common Stock \| 2014 Omnibus Incentive Plan
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Common stock surrendered by employees (in shares)	25,000	45,000	41,000
Performance-Based Stock Awards
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Share-based awards granted (in shares)	61,174
Liability Performance-Based Stock Awards
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Share-based awards granted (in shares)	7,000
Performance Based Restricted Stock Units
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Share-based awards granted (in shares)	14,000,000
Vesting period (in years)	1 year
Directors
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Share-based awards granted (in shares)	6,000,000	8,000,000	5,000,000
Vesting period (in years)	1 year
Officer \| Performance-Based Stock Awards
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Share-based awards granted (in shares)	100,000
Officer \| Performance-Based Stock Awards \| Common Stock
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Number of equal installments \| installment	2
Cost of sales
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Workers' compensation expense \| $	$ 15,700	$ 15,400	$ 12,800
Medical IBNR Included in Accrued Compensation
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Accrued compensation \| $	$ 3,100	$ 2,600

Employee Benefits - Summary of Workers' Compensation Known Claims and IBNR Reserves (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Employee-related Liabilities [Abstract]
Included in other current liabilities	$ 7,703	$ 6,777
Included in other long-term liabilities	11,986	10,874
Workers' compensation liability	$ 19,689	$ 17,651

Employee Benefits - Schedule of Insurance Receivable for Claims (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Sale Of Subsidiary [Abstract]
Included in other non-current assets	$ 1,854	$ 2,098

Employee Benefits - Contributions to Multiemployer Pensions and Health and Welfare Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Multiemployer Plan [Line Items]
Total contributions	$ 2,080	$ 1,483	$ 1,595
Pension plans
Multiemployer Plan [Line Items]
Total contributions	1,128	809	871
Health & welfare plans
Multiemployer Plan [Line Items]
Total contributions	$ 952	$ 674	$ 724

Employee Benefits - Summary of Equity-Based Awards for Employees (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Awards
Share-based awards granted (in shares)	200,000	100,000	100,000
Common Stock Awards
Awards
Nonvested common stock awards, Beginning balance (in shares)	152,882
Granted (in shares)	174,445
Vested (in shares)	(90,870)
Forfeited/Cancelled (in shares)	(5,177)
Nonvested common stock awards, Ending balance (in shares)	231,280	152,882
Weighted Average Grant Date Fair Value Per Share
Nonvested common stock awards, Beginning balance (in USD per share)	$ 52.93
Granted (in USD per share)	44.56
Vested (in USD per share)	49.69
Forfeited/Cancelled (in USD per share)	45.94
Nonvested common stock awards, Ending balance (in USD per share)	$ 48.05	$ 52.93
Performance-Based Stock Awards
Awards
Nonvested performance-based stock awards/units, Beginning balance (in shares)	160,289
Share-based awards granted (in shares)	61,174
Vested (in shares)	(54,502)
Forfeited/Cancelled (in shares)	0
Nonvested performance-based stock awards/units, Ending balance (in shares)	166,961	160,289
Weighted Average Grant Date Fair Value Per Share
Nonvested performance-based stock awards/units, Beginning balance (in USD per share)	$ 50.49
Granted (in USD per share)	77.20
Vested (in USD per share)	51.43
Forfeited/Cancelled (in USD per share)	0
Nonvested performance-based stock awards/units, Ending balance (in USD per share)	$ 59.97	$ 50.49
Performance-Based Restricted Stock Units
Awards
Nonvested performance-based stock awards/units, Beginning balance (in shares)	13,186
Share-based awards granted (in shares)	13,655
Vested (in shares)	(13,077)
Forfeited/Cancelled (in shares)	(491)
Nonvested performance-based stock awards/units, Ending balance (in shares)	13,273	13,186
Weighted Average Grant Date Fair Value Per Share
Nonvested performance-based stock awards/units, Beginning balance (in USD per share)	$ 51.62
Granted (in USD per share)	36.51
Vested (in USD per share)	51.50
Forfeited/Cancelled (in USD per share)	42.94
Nonvested performance-based stock awards/units, Ending balance (in USD per share)	$ 36.51	$ 51.62

Employee Benefits - Summary of Share-Based Compensation Expense Under the 2014 Omnibus Incentive Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 10,826	$ 8,727	$ 7,846
2014 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	10,826	8,727	7,846
2014 Omnibus Incentive Plan \| Common Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4,116	4,242	3,847
2014 Omnibus Incentive Plan \| Common Stock Awards \| Non-Employee Common Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	333	359	177
2014 Omnibus Incentive Plan \| Performance-Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,869	3,034	2,041
2014 Omnibus Incentive Plan \| Liability Performance-Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,969	432	163
2014 Omnibus Incentive Plan \| Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 539	$ 660	$ 1,618

Employee Benefits - Summary of Stock Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 10,826	$ 8,727	$ 7,846
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	284	374	846
Selling
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	202	194	451
Administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 10,340	$ 8,159	$ 6,549

Employee Benefits - Unrecognized Share-Based Compensation Expense Related to Unvested Awards (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense on Unvested Awards	$ 11,609
Common Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense on Unvested Awards	$ 7,162
Weighted Average Remaining Vesting Period	1 year 10 months 24 days
Performance-Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense on Unvested Awards	$ 4,310
Weighted Average Remaining Vesting Period	1 year 7 months 6 days
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Expense on Unvested Awards	$ 137
Weighted Average Remaining Vesting Period	3 months 18 days

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 33,495	$ 14,850	$ 13,486
State	8,918	4,127	3,641
Current income tax expense (benefit)	42,413	18,977	17,127
Deferred:
Federal	(7,177)	4,585	221
State	(1,298)	884	90
Deferred income tax expense (benefit)	(8,475)	5,469	311
Total tax expense	$ 33,938	$ 24,446	$ 17,438

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Effective Tax Rate on Net Income (Loss) and Federal Statutory Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amount
Income tax at federal statutory rate	$ 27,547	$ 19,447	$ 15,159
Stock compensation	331	(255)	(436)
Other permanent items	424	737	(667)
Change in valuation allowance	(207)	276	312
Change in uncertain tax positions	65	67	969
State income taxes, net of federal benefit	5,778	4,174	2,911
Rate impact of the Tax Act	0	0	(810)
Total tax expense	$ 33,938	$ 24,446	$ 17,438
Percent
Income tax at federal statutory rate	21.00%	21.00%	21.00%
Stock compensation	0.30%	(0.30%)	(0.60%)
Other permanent items	0.30%	0.80%	(0.80%)
Change in valuation allowance	(0.20%)	0.30%	0.40%
Change in uncertain tax positions	0.10%	0.10%	1.30%
State income taxes, net of federal benefit	4.40%	4.50%	4.00%
Rate impact of the Tax Act	0.00%	0.00%	(1.10%)
Total tax expense	25.90%	26.40%	24.20%

Income Taxes - Components of Net Deferred Tax Asset or Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets
Accrued liabilities and allowances	$ 9,106	$ 5,140
Allowance for doubtful accounts	987	514
Inventories	402	437
Property and equipment	280	303
Intangibles	6,582	5,615
Net operating loss carryforwards	1,206	1,240
Other	16	5
Long-term deferred tax assets	18,579	13,254
Less: Valuation allowance	(1,263)	(1,512)
Net deferred tax assets	17,316	11,742
Deferred Tax Liabilities
Accrued liabilities and allowances	(151)	(252)
Property and equipment	(4,587)	(4,176)
Intangibles	(4,810)	(4,307)
Investment in partnership	(6,660)	(11,857)
Other	(650)	(325)
Long-term deferred tax liabilities	(16,858)	(20,917)
Net deferred tax assets (liabilities)	$ 458
Net deferred tax assets (liabilities)		$ (9,175)

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax assets, net operating loss carryforwards	$ 1,206,000	$ 1,240,000
Benefit of net operating loss carryforwards	5,400,000
Unrecognized tax benefit that would affect the effective tax rate	2,800,000
Uncertain tax positions, interest expense and penalties accrued	500,000
Minimum
Income Taxes [Line Items]
Decrease in unrecognized tax benefits, net of penalties and interest	0
Maximum
Income Taxes [Line Items]
Decrease in unrecognized tax benefits, net of penalties and interest	$ 4,800,000

Income Taxes - Gross Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit beginning balance	$ 5,717	$ 5,349	$ 4,450
Increase as a result of tax positions taken during the period	3,822	2,866	3,846
Decrease as a result of tax positions taken during the period	(2,873)	(2,482)	(2,850)
Increase as a result of expiring statutes	10
Decrease as a result of expiring statutes		(16)	(97)
Unrecognized tax benefit ending balance	$ 6,676	$ 5,717	$ 5,349

Related Party Transactions - Schedule of Related Party Transactions (Detail) - Affiliated Entity - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Sales	$ 3,987	$ 13,488	$ 12,636
Purchases	1,841	1,810	1,587
Rent	$ 1,125	$ 1,040	$ 1,099

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Affiliated Entity
Related Party Transaction [Line Items]
Accounts receivable, related parties	$ 0.7	$ 1.7
M/I Homes Inc
Related Party Transaction [Line Items]
Accounts receivable, related parties		$ 1.3

Commitments and Contingencies - Schedule of Accrued General Insurance Reserves (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Included in other current liabilities	$ 5,102	$ 3,538
Included in other long-term liabilities	16,440	18,184
Total	$ 21,542	$ 21,722

Commitments and Contingencies - Schedule of Insurance Receivable for Claims (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Line Items]
Total insurance receivables and indemnification assets included in other non-current assets	$ 1,854	$ 2,098
General Liability
Commitments And Contingencies Disclosure [Line Items]
Insurance receivables and indemnification assets for claims under fully insured policies	4,400	7,491
Insurance receivables for claims that exceeded the stop loss limit	328	2,321
Total insurance receivables and indemnification assets included in other non-current assets	$ 4,728	$ 9,812

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation, 2020	$ 22.6
Purchase obligation, 2021	14.9
Reduced purchase obligation	$ 12.6

Business Combinations - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) business	Dec. 31, 2019 USD ($) business	Dec. 31, 2018 USD ($) business
Business Acquisition [Line Items]
Number of businesses acquired \| business	9	6	10
Percentage of voting equity interests acquired	100.00%
Acquisition-related costs	$ 2,800	$ 2,100	$ 2,700
Goodwill acquired expected to be tax deductible	21,000
Amortization	28,535	24,510	25,419
Income tax expense (benefit)	33,938	24,446	17,438
Combined Business Acquisitions
Business Acquisition [Line Items]
Amortization	5,400	10,200	6,200
Income tax expense (benefit)	$ 700	$ 3,000	$ 2,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Business Combinations - Summary of Business Acquisitions (Detail) - USD ($) $ in Thousands												12 Months Ended
	Nov. 16, 2020	Oct. 26, 2020	Oct. 13, 2020	Aug. 31, 2020	Aug. 10, 2020	Feb. 29, 2020	Nov. 18, 2019	Jun. 24, 2019	Mar. 18, 2019	Oct. 31, 2018	Mar. 19, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Cash Paid												$ 76,446	$ 52,040	$ 57,740
Seller Obligations												14,086	7,543	7,540
Total Purchase Price												90,532	59,583	65,280
Revenue												40,494	21,812	39,325
Net Income (Loss)												1,892	592	1,157
Royals
Business Acquisition [Line Items]
Cash Paid						$ 7,590						7,590
Seller Obligations						2,500						2,500
Total Purchase Price						10,090
Revenue						11,095
Net Income (Loss)						$ 1,332
Energy One
Business Acquisition [Line Items]
Cash Paid					$ 13,200							13,200
Seller Obligations					1,591							1,591
Total Purchase Price					14,791
Revenue					7,454
Net Income (Loss)					$ (558)
Storm Master
Business Acquisition [Line Items]
Cash Paid				$ 13,000								13,000
Seller Obligations				1,336								1,336
Total Purchase Price				14,336
Revenue				8,131
Net Income (Loss)				$ 619
ICON
Business Acquisition [Line Items]
Cash Paid			$ 16,900									16,900
Seller Obligations			3,598									3,598
Total Purchase Price			20,498
Revenue			4,798
Net Income (Loss)			$ 449
Norkote
Business Acquisition [Line Items]
Cash Paid		$ 8,725										8,725
Seller Obligations		2,426										2,426
Total Purchase Price		11,151
Revenue		2,702
Net Income (Loss)		$ 417
WeatherSeal
Business Acquisition [Line Items]
Cash Paid	$ 9,500											9,500
Seller Obligations	922											922
Total Purchase Price	10,422
Revenue	766
Net Income (Loss)	$ (23)
Other
Business Acquisition [Line Items]
Cash Paid												7,531	5,750	28,593
Seller Obligations												1,713	1,430	4,057
Total Purchase Price												9,244	7,180	32,650
Revenue												5,548	3,339	24,329
Net Income (Loss)												$ (344)	23	639
1st State Insulation
Business Acquisition [Line Items]
Cash Paid									$ 5,125				5,125
Seller Obligations									1,355				1,355
Total Purchase Price									6,480
Revenue									9,828
Net Income (Loss)									$ 476
Expert Insulation
Business Acquisition [Line Items]
Cash Paid								$ 16,165					16,165
Seller Obligations								1,993					1,993
Total Purchase Price								18,158
Revenue								6,484
Net Income (Loss)								$ 155
Premier
Business Acquisition [Line Items]
Cash Paid							$ 25,000						25,000
Seller Obligations							2,765						$ 2,765
Total Purchase Price							27,765
Revenue							2,161
Net Income (Loss)							$ (62)
CDG
Business Acquisition [Line Items]
Cash Paid											$ 9,440			9,440
Seller Obligations											1,973			1,973
Total Purchase Price											11,413
Revenue											11,466
Net Income (Loss)											$ 531
AFT
Business Acquisition [Line Items]
Cash Paid										$ 19,707				19,707
Seller Obligations										1,510				$ 1,510
Total Purchase Price										21,217
Revenue										3,530
Net Income (Loss)										$ (13)

Business Combinations - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands												12 Months Ended
	Nov. 16, 2020	Oct. 26, 2020	Oct. 13, 2020	Aug. 31, 2020	Aug. 10, 2020	Feb. 29, 2020	Nov. 18, 2019	Jun. 24, 2019	Mar. 18, 2019	Oct. 31, 2018	Mar. 19, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Intangibles												$ 46,200	$ 28,000
Goodwill												216,870	195,652	$ 173,049
Less seller obligations												14,086	7,543	7,540
Cash Paid												76,446	52,040	57,740
2020 Acquisitions
Business Acquisition [Line Items]
Accounts receivable												17,605
Inventories												2,761
Other current assets												1,454
Property and equipment												5,862
Intangibles												46,223
Goodwill												21,305
Other non-current assets												241
Accounts payable and other current liabilities												(4,641)
Other long-term liabilities												(278)
Fair value of assets acquired and purchase price												90,532
Less seller obligations												14,086
Cash Paid												76,446
Royals
Business Acquisition [Line Items]
Accounts receivable												2,848
Inventories												305
Other current assets												430
Property and equipment												598
Intangibles												3,930
Goodwill												3,015
Other non-current assets												58
Accounts payable and other current liabilities												(1,059)
Other long-term liabilities												(35)
Fair value of assets acquired and purchase price												10,090
Less seller obligations						$ 2,500						2,500
Cash Paid						$ 7,590						7,590
Energy One
Business Acquisition [Line Items]
Accounts receivable												3,357
Inventories												838
Other current assets												12
Property and equipment												2,319
Intangibles												6,500
Goodwill												3,253
Other non-current assets												0
Accounts payable and other current liabilities												(1,469)
Other long-term liabilities												(19)
Fair value of assets acquired and purchase price												14,791
Less seller obligations					$ 1,591							1,591
Cash Paid					$ 13,200							13,200
Storm Master
Business Acquisition [Line Items]
Accounts receivable												2,362
Inventories												175
Other current assets												0
Property and equipment												798
Intangibles												8,720
Goodwill												3,631
Other non-current assets												0
Accounts payable and other current liabilities												(1,336)
Other long-term liabilities												(14)
Fair value of assets acquired and purchase price												14,336
Less seller obligations				$ 1,336								1,336
Cash Paid				$ 13,000								13,000
ICON
Business Acquisition [Line Items]
Accounts receivable												4,828
Inventories												243
Other current assets												675
Property and equipment												380
Intangibles												11,830
Goodwill												2,870
Other non-current assets												145
Accounts payable and other current liabilities												(445)
Other long-term liabilities												(28)
Fair value of assets acquired and purchase price												20,498
Less seller obligations			$ 3,598									3,598
Cash Paid			$ 16,900									16,900
Norkote
Business Acquisition [Line Items]
Accounts receivable												1,926
Inventories												444
Other current assets												178
Property and equipment												584
Intangibles												5,310
Goodwill												2,841
Other non-current assets												0
Accounts payable and other current liabilities												(86)
Other long-term liabilities												(46)
Fair value of assets acquired and purchase price												11,151
Less seller obligations		$ 2,426										2,426
Cash Paid		$ 8,725										8,725
WeatherSeal
Business Acquisition [Line Items]
Accounts receivable												865
Inventories												156
Other current assets												14
Property and equipment												520
Intangibles												5,450
Goodwill												3,472
Other non-current assets												0
Accounts payable and other current liabilities												(50)
Other long-term liabilities												(5)
Fair value of assets acquired and purchase price												10,422
Less seller obligations	$ 922											922
Cash Paid	$ 9,500											9,500
2019 Acquisitions
Business Acquisition [Line Items]
Cash													334
Accounts receivable													5,204
Inventories													2,666
Other current assets													3
Property and equipment													2,987
Intangibles													28,041
Goodwill													22,318
Other non-current assets													531
Accounts payable and other current liabilities													(2,501)
Fair value of assets acquired and purchase price													59,583
Less seller obligations													7,543
Cash Paid													52,040
1st State
Business Acquisition [Line Items]
Cash													0
Accounts receivable													0
Inventories													291
Other current assets													0
Property and equipment													989
Intangibles													3,382
Goodwill													1,857
Other non-current assets													0
Accounts payable and other current liabilities													(39)
Fair value of assets acquired and purchase price													6,480
Less seller obligations									$ 1,355				1,355
Cash Paid									$ 5,125				5,125
Expert
Business Acquisition [Line Items]
Cash													0
Accounts receivable													1,796
Inventories													723
Other current assets													0
Property and equipment													235
Intangibles													6,740
Goodwill													8,545
Other non-current assets													161
Accounts payable and other current liabilities													(42)
Fair value of assets acquired and purchase price													18,158
Less seller obligations								$ 1,993					1,993
Cash Paid								$ 16,165					16,165
Premier
Business Acquisition [Line Items]
Cash													334
Accounts receivable													2,929
Inventories													1,242
Other current assets													0
Property and equipment													876
Intangibles													14,300
Goodwill													10,151
Other non-current assets													329
Accounts payable and other current liabilities													(2,396)
Fair value of assets acquired and purchase price													27,765
Less seller obligations							$ 2,765						2,765
Cash Paid							$ 25,000						25,000
2018 Acquisitions
Business Acquisition [Line Items]
Accounts receivable														5,835
Inventories														2,215
Other current assets														946
Property and equipment														5,984
Intangibles														36,085
Goodwill														17,079
Other non-current assets														131
Accounts payable and other current liabilities														(2,995)
Fair value of assets acquired and purchase price														65,280
Less seller obligations														7,540
Cash Paid														57,740
CDG
Business Acquisition [Line Items]
Accounts receivable														1,731
Inventories														514
Other current assets														28
Property and equipment														933
Intangibles														3,711
Goodwill														4,898
Other non-current assets														36
Accounts payable and other current liabilities														(438)
Fair value of assets acquired and purchase price														11,413
Less seller obligations											$ 1,973			1,973
Cash Paid											$ 9,440			9,440
AFT
Business Acquisition [Line Items]
Accounts receivable														0
Inventories														565
Other current assets														0
Property and equipment														2,882
Intangibles														13,470
Goodwill														4,415
Other non-current assets														13
Accounts payable and other current liabilities														(128)
Fair value of assets acquired and purchase price														21,217
Less seller obligations										$ 1,510				1,510
Cash Paid										$ 19,707				19,707
Other
Business Acquisition [Line Items]
Cash													0
Accounts receivable												1,419	479	4,104
Inventories												600	410	1,136
Other current assets												145	3	918
Property and equipment												663	887	2,169
Intangibles												4,483	3,619	18,904
Goodwill												2,223	1,765	7,766
Other non-current assets												38	41	82
Accounts payable and other current liabilities												(196)	(24)	(2,429)
Other long-term liabilities												(131)
Fair value of assets acquired and purchase price												9,244	7,180	32,650
Less seller obligations												1,713	1,430	4,057
Cash Paid												$ 7,531	$ 5,750	$ 28,593

Business Combinations - Estimates of Acquired Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 28,307	$ 20,659	$ 27,149
Weighted Average Estimated Useful Life (yrs)	8 years	8 years	8 years
Trademarks and tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 9,834	$ 5,286	$ 6,075
Weighted Average Estimated Useful Life (yrs)	15 years	15 years	15 years
Non-competition agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 3,315	$ 2,096	$ 2,401
Weighted Average Estimated Useful Life (yrs)	5 years	5 years	5 years
Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 4,767	$ 0	$ 460
Weighted Average Estimated Useful Life (yrs)	1 year 6 months	0 years	2 years

Business Combinations - Pro Forma Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition, Pro Forma Information [Abstract]
Net revenue	$ 1,722,030	$ 1,660,326	$ 1,436,713
Net income	$ 99,243	$ 76,474	$ 61,148
Basic net income per share	$ 3.36	$ 2.57	$ 1.97
Diluted net income per share	$ 3.34	$ 2.56	$ 1.96

Income Per Common Share - Additional Information (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Dilutive effect of outstanding restricted stock awards after application of the Treasury Stock Method	213	120	122
Common stock shares excluded from calculation of diluted net income per common share	4

Subsequent Events (Details) - Subsequent Event - USD ($)	Feb. 24, 2021	Feb. 22, 2021
Subsequent Event [Line Items]
Stock repurchase program, authorized		$ 100,000,000.0
Stock repurchase program, remaining authorized repurchase amount		$ 100,000,000.0
First quarterly dividends payable (in dollars per share)	$ 0.30