BOISE CASCADE Co

For the period ended Dec 31, 2024. Filed Feb 20, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 20, 2025

BCC$70.42-3.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 8. Financial Statements and Supplementary Data

Consolidated Statements of Operations

	2024	2023	2022
(thousands, except per-share data)
Sales	$6,724,294	$6,838,245	$8,387,307
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	5,393,607	5,409,311	6,472,540
Depreciation and amortization	144,113	132,467	101,593
Selling and distribution expenses	594,927	559,503	553,251
General and administrative expenses	102,317	114,434	103,750
Other (income) expense, net	(708)	(1,856)	(1,676)
	6,234,256	6,213,859	7,229,458
Income from operations	490,038	624,386	1,157,849
Foreign currency exchange gain (loss)	(1,164)	7	(1,584)
Pension expense (excluding service costs)	(149)	(163)	(294)
Interest expense	(24,067)	(25,496)	(25,412)
Interest income	39,139	48,106	12,263
Change in fair value of interest rate swaps	(2,038)	(1,791)	3,559
	11,721	20,663	(11,468)
Income before income taxes	501,759	645,049	1,146,381
Income tax provision	(125,405)	(161,393)	(288,723)
Net income	$376,354	$483,656	$857,658
Weighted average common shares outstanding:
Basic	39,086	39,649	39,526
Diluted	39,318	39,901	39,772
Net income per common share:
Basic	$9.63	$12.20	$21.70
Diluted	$9.57	$12.12	$21.56
Dividends declared per common share	$5.82	$8.70	$4.01

Consolidated Statements of Comprehensive Income

	Year Ended December 31
	2024	2023	2022
(thousands)
Net income	$376,354	$483,656	$857,658
Other comprehensive income, net of tax
Defined benefit pension plans
Actuarial gain (loss), net of tax of $10, $(7), and $122, respectively	28	(22)	367
Amortization of actuarial loss, net of tax of $9, $8, and $21, respectively	29	25	62
Effects of settlements, net of tax of $—, $—, and $32, respectively	—	—	98
Other comprehensive income, net of tax	57	3	527
Comprehensive income	$376,411	$483,659	$858,185

Consolidated Balance Sheets

	2024	2023
(thousands)
ASSETS
Current
Cash and cash equivalents	$713,260	$949,574
Receivables
Trade, less allowances of $5,506 and $3,278	321,820	352,780
Related parties	173	181
Other	22,772	20,740
Inventories	803,296	712,369
Prepaid expenses and other	24,747	21,170
Total current assets	1,886,068	2,056,814
Property and equipment, net	1,047,083	932,633
Operating lease right-of-use assets	49,673	62,868
Finance lease right-of-use assets	22,128	24,003
Timber deposits	6,916	7,208
Goodwill	171,945	170,254
Intangible assets, net	173,027	190,743
Deferred income taxes	3,705	4,854
Other assets	8,838	9,269
Total assets	$3,369,383	$3,458,646

Consolidated Balance Sheets (continued)

	2024	2023
(thousands, except per-share data)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$297,676	$310,175
Related parties	1,315	1,501
Accrued liabilities
Compensation and benefits	127,415	149,561
Interest payable	9,957	9,958
Other	127,653	122,921
Total current liabilities	564,016	594,116
Debt
Long-term debt, net	446,167	445,280
Other
Compensation and benefits	42,006	40,189
Operating lease liabilities, net of current portion	43,174	56,425
Finance lease liabilities, net of current portion	26,883	28,084
Deferred income taxes	78,849	82,014
Other long-term liabilities	17,014	16,874
	207,926	223,586
Commitments and contingent liabilities
Stockholders' equity
Preferred stock, $0.01 par value per share; 50,000 shares authorized, no shares issued and outstanding	—	—
Common stock, $0.01 par value per share; 300,000 shares authorized, 45,139 and 44,983 shares issued, respectively	451	450
Treasury stock, 6,956 and 5,443 shares at cost, respectively	(341,974)	(145,335)
Additional paid-in capital	565,041	560,697
Accumulated other comprehensive loss	(460)	(517)
Retained earnings	1,928,216	1,780,369
Total stockholders' equity	2,151,274	2,195,664
Total liabilities and stockholders' equity	$3,369,383	$3,458,646

Consolidated Statements of Cash Flows

	2024	2023	2022
(thousands)
Cash provided by (used for) operations
Net income	$376,354	$483,656	$857,658
Items in net income not using (providing) cash
Depreciation and amortization, including deferred financing costs and other	147,402	135,414	103,879
Stock-based compensation	15,486	15,410	11,870
Pension expense	149	163	294
Deferred income taxes	(2,416)	(180)	59,666
Change in fair value of interest rate swaps	2,038	1,791	(3,559)
Other	(379)	(1,898)	(1,043)
Decrease (increase) in working capital, net of acquisitions
Receivables	31,068	(35,024)	158,073
Inventories	(89,266)	22,286	(13,903)
Prepaid expenses and other	(1,029)	(824)	(2,834)
Accounts payable and accrued liabilities	(35,595)	37,146	(100,354)
Income taxes payable	(2,405)	28,590	(30,561)
Other	(3,087)	928	2,033
Net cash provided by operations	438,320	687,458	1,041,219
Cash provided by (used for) investment
Expenditures for property and equipment	(229,569)	(215,438)	(114,117)
Acquisitions of businesses and facilities, net of cash acquired	(10,221)	(162,774)	(515,237)
Proceeds from sales of assets and other	1,970	2,660	3,898
Net cash used for investment	(237,820)	(375,552)	(625,456)
Cash provided by (used for) financing
Treasury stock purchased	(194,904)	(6,426)	—
Dividends paid on common stock	(228,814)	(346,493)	(159,564)
Tax withholding payments on stock-based awards	(11,141)	(5,926)	(3,930)
Payments of deferred financing costs	—	—	(1,174)
Other	(1,955)	(1,831)	(1,658)
Net cash used for financing	(436,814)	(360,676)	(166,326)
Net increase (decrease) in cash and cash equivalents	(236,314)	(48,770)	249,437
Balance at beginning of the period	949,574	998,344	748,907
Balance at end of the period	$713,260	$949,574	$998,344

Consolidated Statements of Stockholders' Equity

Common Stock · Treasury Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Loss · Retained Earnings · Total
Shares · Amount · Shares · Amount
(thousands)
Balance at December 31, 2021	44,698	$447		5,367			$(138,909)		$543,249	$(1,047)		$948,879	$1,352,619
Net income									857,658	857,658
Other comprehensive income								527		527
Common stock issued	129	1									1
Stock-based compensation						11,870				11,870
Common stock dividends ($4.01 per share)									(160,796)	(160,796)
Tax withholding payments on stock-based awards						(3,930)				(3,930)
Proceeds from exercise of stock options						27				27
Other						(1)				(1)
Balance at December 31, 2022	44,827	$448		5,367			$(138,909)		$551,215	$(520)		$1,645,741	$2,057,975
Net income									483,656	483,656
Other comprehensive income								3		3
Common stock issued	156	2									2
Treasury stock purchased			76		(6,426)						(6,426)
Stock-based compensation						15,410				15,410
Common stock dividends ($8.70 per share)									(349,028)	(349,028)
Tax withholding payments on stock-based awards						(5,926)				(5,926)
Other						(2)				(2)
Balance at December 31, 2023	44,983	$450		5,443			$(145,335)		$560,697	$(517)		$1,780,369	$2,195,664
Net income									376,354	376,354
Other comprehensive income								57		57
Common stock issued	156	1									1
Treasury stock purchased			1,513		(194,904)						(194,904)
Stock-based compensation						15,486				15,486
Common stock dividends ($5.82 per share)									(228,507)	(228,507)
Tax withholding payments on stock-based awards						(11,141)				(11,141)
Other				(1,735)			(1)				(1,736)
Balance at December 31, 2024	45,139	$451		6,956			$(341,974)		$565,041	$(460)		$1,928,216	$2,151,274

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.