BEACON ROOFING SUPPLY INC

[1]	Selling, general and administrative expense for the three months ended March 31, 2025 includes $37.7 million of one-time costs incurred in connection with the QXO Transactions (as defined in Note 19).

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Operating Activities
Net income (loss)	$ (43.1)	$ 5.6
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	54.7	46.6
Stock-based compensation	9.2	7.4
Certain interest expense and other financing costs	2.1	0.5
Loss on debt extinguishment	0.0	2.4
Gain on sale of fixed assets and other	(1.4)	(1.6)
Deferred income taxes	5.3	2.8
Changes in operating assets and liabilities:
Accounts receivable	(51.7)	(38.4)
Inventories	(302.0)	(303.2)
Prepaid expenses and other current assets	(49.7)	(69.2)
Accounts payable and accrued expenses	239.2	207.0
Other assets and liabilities	2.2	(0.7)
Net cash provided by (used in) operating activities	(135.2)	(140.8)
Investing Activities
Capital expenditures	(13.1)	(27.0)
Acquisition of business, net	(10.7)	(109.0)
Proceeds from sale of assets	1.6	1.7
Purchases of investments	(1.3)	(0.8)
Net cash provided by (used in) investing activities	(23.5)	(135.1)
Financing Activities
Borrowings under revolving lines of credit	640.8	677.8
Payments under revolving lines of credit	(473.3)	(646.8)
Borrowings under term loan	0.0	300.0
Payments under term loan	(3.2)	0.0
Payment of debt issuance costs	0.0	(0.2)
Payments under equipment financing facilities and finance leases	(10.0)	(6.4)
Payment of fees for the repurchase of convertible Preferred Stock	0.0	(0.1)
Proceeds from employee stock purchase plan	0.0	4.1
Proceeds from issuance of common stock related to equity awards	1.4	3.5
Payment of taxes related to net share settlement of equity awards	(13.9)	(4.8)
Net cash provided by (used in) financing activities	141.8	327.1
Effect of exchange rate changes on cash and cash equivalents	0.0	(0.6)
Net increase (decrease) in cash and cash equivalents	(16.9)	50.6
Cash and cash equivalents, beginning of period	74.3	84.0
Cash and cash equivalents, end of period	57.4	134.6
Supplemental Cash Flow Information
Interest	43.9	40.6
Income taxes, net of refunds	$ 3.4	$ 3.6

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 57.4	$ 74.3	$ 134.6
Accounts receivable, less allowance of $17.1, $17.6, and $14.7 as of March 31, 2025, December 31, 2024, and March 31, 2024, respectively	1,250.5	1,196.1	1,188.5
Inventories, net	1,711.5	1,407.7	1,537.6
Prepaid expenses and other current assets	547.2	501.7	520.1
Total current assets	3,566.6	3,179.8	3,380.8
Property and equipment, net	541.0	545.7	457.0
Goodwill	2,097.7	2,094.7	2,011.1
Intangibles, net	469.2	489.1	434.0
Operating lease right-of-use assets, net	651.2	626.8	517.3
Deferred income taxes, net	0.0	0.0	2.1
Other assets, net	19.4	17.5	16.2
Total assets	7,345.1	6,953.6	6,818.5
Current liabilities:
Accounts payable	1,275.7	938.0	1,247.2
Accrued expenses	423.6	522.4	423.1
Current portion of operating lease liabilities	106.3	101.2	92.0
Current portion of finance lease liabilities	41.4	38.9	29.1
Current portion of long-term debt	12.8	12.8	15.9
Total current liabilities	1,859.8	1,613.3	1,807.3
Borrowings under revolving lines of credit, net	316.1	148.1	111.5
Long-term debt, net	2,479.1	2,481.2	2,487.6
Deferred income taxes, net	41.4	37.0	24.0
Other long-term liabilities	2.8	1.9	1.3
Operating lease liabilities	566.2	544.7	436.5
Finance lease liabilities	136.3	134.9	109.8
Total liabilities	5,401.7	4,961.1	4,978.0
Commitments and contingencies (Note 13)
Stockholders' equity:
Common stock (voting); $0.01 par value; 100.0 shares authorized; 61.8, 61.5, and 63.6 shares issued and outstanding as of March 31, 2025, December 31, 2024, and March 31, 2024, respectively	0.6	0.6	0.6
Undesignated preferred stock; 5.0 shares authorized, none issued or outstanding	0.0	0.0	0.0
Additional paid-in capital	1,261.1	1,264.4	1,228.6
Retained earnings	710.6	753.7	624.4
Accumulated other comprehensive income (loss)	(28.9)	(26.2)	(13.1)
Total stockholders' equity	1,943.4	1,992.5	1,840.5
Total liabilities and stockholders' equity	$ 7,345.1	$ 6,953.6	$ 6,818.5