BOISE CASCADE Co

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

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.

FY2025 · Filed Feb 24, 2026

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

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

See the whole filing, with its images and exhibits

Contents

Item 8. Financial Statements and Supplementary Data

Consolidated Statements of Operations

	2025	2024	2023
(thousands, except per-share data)
Sales	$6,404,595	$6,724,294	$6,838,245
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	5,350,702	5,393,607	5,409,311
Depreciation and amortization	158,221	144,113	132,467
Selling and distribution expenses	616,256	594,927	559,503
General and administrative expenses	99,696	102,317	114,434
Other (income) expense, net	(3,609)	(708)	(1,856)
	6,221,266	6,234,256	6,213,859
Income from operations	183,329	490,038	624,386
Foreign currency exchange gain (loss)	760	(1,164)	7
Pension expense (excluding service costs)	(131)	(149)	(163)
Interest expense	(21,846)	(24,067)	(25,496)
Interest income	18,766	39,139	48,106
Change in fair value of interest rate swaps	(925)	(2,038)	(1,791)
	(3,376)	11,721	20,663
Income before income taxes	179,953	501,759	645,049
Income tax provision	(47,117)	(125,405)	(161,393)
Net income	$132,836	$376,354	$483,656
Weighted average common shares outstanding:
Basic	37,476	39,086	39,649
Diluted	37,619	39,318	39,901
Net income per common share:
Basic	$3.54	$9.63	$12.20
Diluted	$3.53	$9.57	$12.12
Dividends declared per common share	$0.86	$5.82	$8.70

Consolidated Statements of Comprehensive Income

	Year Ended December 31
	2025	2024	2023
(thousands)
Net income	$132,836	$376,354	$483,656
Other comprehensive income (loss), net of tax
Defined benefit pension plans
Actuarial gain (loss), net of tax of $(13), $10, and $(7), respectively	(41)	28	(22)
Amortization of actuarial loss, net of tax of $7, $9, and $8, respectively	25	29	25
Other comprehensive income (loss), net of tax	(16)	57	3
Comprehensive income	$132,820	$376,411	$483,659

Consolidated Balance Sheets

	2025	2024
(thousands)
ASSETS
Current
Cash and cash equivalents	$477,215	$713,260
Receivables
Trade, less allowances of $5,618 and $5,506	315,944	321,820
Related parties	86	173
Other	24,698	22,772
Inventories	795,724	803,296
Prepaid expenses and other	40,751	24,747
Total current assets	1,654,418	1,886,068
Property and equipment, net	1,157,261	1,047,083
Operating lease right-of-use assets	55,980	49,673
Finance lease right-of-use assets	11,825	22,128
Timber deposits	8,058	6,916
Goodwill	185,384	171,945
Intangible assets, net	159,665	173,027
Deferred income taxes	3,041	3,705
Other assets	6,311	8,838
Total assets	$3,241,943	$3,369,383

Consolidated Balance Sheets (continued)

	2025	2024
(thousands, except per-share data)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$254,622	$297,676
Related parties	915	1,315
Accrued liabilities
Compensation and benefits	103,066	127,415
Interest payable	10,176	9,957
Other	124,297	127,653
Total current liabilities	493,076	564,016
Debt
Long-term debt, net	445,405	446,167
Other
Compensation and benefits	39,354	42,006
Operating lease liabilities, net of current portion	49,778	43,174
Finance lease liabilities, net of current portion	15,631	26,883
Deferred income taxes	105,551	78,849
Other long-term liabilities	18,270	17,014
	228,584	207,926
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, 36,190 and 45,139 shares issued, respectively	362	451
Treasury stock, — and 6,956 shares at cost, respectively	—	(341,974)
Additional paid-in capital	571,220	565,041
Accumulated other comprehensive loss	(476)	(460)
Retained earnings	1,503,772	1,928,216
Total stockholders' equity	2,074,878	2,151,274
Total liabilities and stockholders' equity	$3,241,943	$3,369,383

Consolidated Statements of Cash Flows

	2025	2024	2023
(thousands)
Cash provided by (used for) operations
Net income	$132,836	$376,354	$483,656
Items in net income not using (providing) cash
Depreciation and amortization, including deferred financing costs and other	161,849	147,402	135,414
Stock-based compensation	12,119	15,486	15,410
Pension expense	131	149	163
Deferred income taxes	27,549	(2,416)	(180)
Change in fair value of interest rate swaps	925	2,038	1,791
Other	(1,084)	(379)	(1,898)
Decrease (increase) in working capital, net of acquisitions
Receivables	17,070	31,068	(35,024)
Inventories	15,867	(89,266)	22,286
Prepaid expenses and other	(3,023)	(1,029)	(824)
Accounts payable and accrued liabilities	(90,938)	(35,595)	37,146
Income taxes payable	(17,241)	(2,405)	28,590
Other	(1,912)	(3,087)	928
Net cash provided by operations	254,148	438,320	687,458
Cash provided by (used for) investment
Expenditures for property and equipment	(241,431)	(229,569)	(215,438)
Acquisitions of businesses and facilities, net of cash acquired	(33,382)	(10,221)	(162,774)
Proceeds from sales of assets and other	11,551	1,970	2,660
Net cash used for investment	(263,262)	(237,820)	(375,552)
Cash provided by (used for) financing
Borrowings of long-term debt, including revolving credit facility	50,000	—	—
Payments of long-term debt, including revolving credit facility	(50,000)	—	—
Treasury stock purchased	(183,108)	(194,904)	(6,426)
Dividends paid on common stock	(34,624)	(228,814)	(346,493)
Tax withholding payments on stock-based awards	(5,939)	(11,141)	(5,926)
Payments of deferred financing costs	(1,819)	—	—
Other	(1,441)	(1,955)	(1,831)
Net cash used for financing	(226,931)	(436,814)	(360,676)
Net decrease in cash and cash equivalents	(236,045)	(236,314)	(48,770)
Balance at beginning of the period	713,260	949,574	998,344
Balance at end of the period	$477,215	$713,260	$949,574

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, 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
Net income									132,836		132,836
Other comprehensive loss								(16)			(16)
Common stock issued	109	1										1
Repurchase of common stock	(2,102)	(21)								(183,054)			(183,075)
Treasury stock retirement	(6,956)	(69)		(6,956)			341,974					(341,905)			—
Stock-based compensation						12,119					12,119
Common stock dividends ($0.86 per share)									(32,321)		(32,321)
Tax withholding payments on stock-based awards						(5,939)					(5,939)
Other						(1)					(1)
Balance at December 31, 2025	36,190	$362		—			$—		$571,220		$(476)			$1,503,772		$2,074,878

ContentsView on SEC.gov

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