What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2021-11-19 compared with 2020-11-19 · 16 added, 58 removed, 16 unchanged (82% of the section changed)

2 unchanged sentences

Covenants contained in certain of the debt instruments described in Note 8.

of the Notes to Consolidated Financial Statements restrict the amount we can pay in cash dividends.

of the Notes to Consolidated Financial Statements restrict our ability to declare and pay dividends.

Future dividends will be declared at the discretion of our Board of Directors and will depend on our future earnings, financial condition and other factors.

At September 30, 2021, there were 98 stockholders of record for our common stock.

This figure does not include stockholders whose shares are held in street name or otherwise beneficially held.

This figure does not include stockholders whose shares are held in the account of a stockbroker, bank or custodian on behalf of a stockholder or shares which are otherwise beneficially held.

Equity Compensation Plan Information

The information regarding our compensation plans under which equity securities are authorized for issuance is set forth in “Item 12.

Information regarding our compensation plans under which equity securities are authorized for issuance is set forth in “Item 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.”

2 unchanged sentences

Issuer Purchases of Equity Securities

We did not repurchase any shares of our common stock in the quarter ended September 30, 2020.

In 2015, we announced the authorization of a stock repurchase program for up to $50.0 million of our common stock.

The program does not commit us to any particular timing or quantity of purchases, and we may suspend or discontinue the program at any time.

In 2017, we announced an increase to the authorized amount of this program to $250.0 million.

At September 30, 2021 , we had remaining authorization of $135.0 million to repurchase shares of our common stock.

During the quarter ended September 30, 2021, we repurchased $10.0 million in shares, which totaled 651,271 shares of our common stock.

Period Total number of shares purchased Average price paid per share Total number of shares purchased as part of publicly announced plans or programs Maximum dollar value of shares that may yet be purchased under the plans or programs (in millions)

July 1-31, 2021 — $ — — $ 145.0

August 1-31, 2021 651,271 $ 15.33 — $ 135.0

September 1-30, 2021 — $ — — $ 135.0

Total 651,271 $ 15.33 — $ 135.0

Index to Financial Statements

Stock Price Performance Graph

The following graph compares the cumulative quarterly stock market performance of our common stock with the Russell 2000 Stock Index (“Russell 2000”) and the Dow Jones U.S.

The following graph compares the Company’s cumulative quarterly common stock price performance with the Russell 2000 Stock Index (“Russell 2000”) and the Dow Jones U.S.

Building Materials & Fixtures Index (“DJ U.S.

2 unchanged sentences

Building Materials & Fixtures on the dates indicated and (ii) reinvestment of all dividends.

Index to Financial Statements

SELECTED FINANCIAL DATA

The selected financial and other data presented below should be read in conjunction with, and are qualified by reference to, “Item 7.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” and the consolidated financial statements and notes thereto included elsewhere in this annual report.

2020 2019 2018 2017 2016

(in millions, except per share data)

Statement of operations data:

Net sales $ 964.1 $ 968.0 $ 916.0 $ 826.0 $ 800.6

Cost of sales 635.9 647.1 626.1 558.1 531.7

Gross profit 328.2 320.9 289.9 267.9 268.9

Selling, general and administrative expenses

198.4 182.7 166.7 155.4 149.5

Gain on sale of idle property — (2.4) (9.0) — —

Other charges 13.0 16.3 10.5 10.4 7.2

Interest expense, net 25.5 19.8 20.9 22.2 23.6

Loss on early extinguishment of debt — — 6.5 — —

Walter Energy Accrual 0.2 22.0 — — —

Pension costs (benefit) other than service (3.0) 0.4 1.0 1.4 19.3

Gain on settlement of interest rate swap contracts — — (2.4) — —

Income before income taxes 94.1 82.1 95.7 78.5 69.3

Income tax expense (benefit) 22.1 18.3 (9.9) 24.2 24.2

Income from continuing operations 72.0 63.8 105.6 54.3 45.1

Discontinued operations (1)

— — — 69.0 18.8

$ 72.0 $ 63.8 $ 105.6 $ 123.3 $ 63.9

Earnings per basic share:

Continuing operations $ 0.46 $ 0.40 $ 0.67 $ 0.34 $ 0.28

Discontinued operations (1)

— — — 0.43 0.12

$ 0.46 $ 0.40 $ 0.67 $ 0.77 $ 0.40

Earnings per diluted share:

Continuing operations $ 0.45 $ 0.40 $ 0.66 $ 0.34 $ 0.28

Discontinued operations (1)

— — — 0.42 0.12

$ 0.45 $ 0.40 $ 0.66 $ 0.76 $ 0.39

Weighted average shares outstanding:

Basic 157.8 157.8 158.2 160.1 161.3

Diluted 158.6 159.0 159.7 161.8 163.4

Balance sheet data (at September 30):

Cash and cash equivalents $ 208.9 $ 176.7 $ 347.1 $ 361.7 $ 195.0

Working capital 426.2 388.4 518.4 528.7 426.5

Property, plant and equipment, net 253.8 217.1 150.9 122.3 108.4

Total assets 1,395.0 1,337.3 1,291.9 1,258.3 1,280.6

Total debt 447.6 446.3 445.0 480.6 484.4

Long-term liabilities 599.3 566.5 560.0 627.2 675.3

Total liabilities 754.3 745.0 727.1 768.8 861.1

Total equity 640.7 592.3 564.8 489.5 419.5

Other data (year ended September 30):

Depreciation and amortization 57.8 53.0 43.7 41.9 39.5

Capital expenditures 67.7 86.6 55.7 40.6 31.5

Cash dividends declared per share 0.2100 0.2025 0.190 0.150 0.100

(1) In 2017, we sold Anvil.

The results of its operations and the gain on the sale of Anvil are classified as discontinued operations for 2016 and 2017, as applicable.

Not applicable.

Index to Financial Statements

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity