UFP Industries, Inc. (UFPI) Financial Statements (2024 and earlier)

Company Profile

Business Address 2801 EAST BELTLINE NE
GRAND RAPIDS, MI 49525
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 2421 - Sawmills and Planing Mills, General (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5953234611874240
Cash and cash equivalents5592874371682728
Short-term investments363624191511
Restricted cash and investments  50010
Receivables651743476377358335
Inventory, net of allowances, customer advances and progress billings973963567487556460
Inventory973963567487556460
Contract with customer, asset, after allowance for credit loss     
Other current assets434034423928
Other undisclosed current assets0     
Total current assets:2,2622,0731,5381,093995863
Noncurrent Assets
Operating lease, right-of-use asset108977780
Property, plant and equipment689589417387355329
Intangible assets, net (including goodwill)489431332285273255
Goodwill337315252230224213
Intangible assets, net (excluding goodwill)15111680564942
Restricted cash and investments20191816138
Deferred costs      1
Deferred income tax assets4323
Other noncurrent assets10132202597
Other undisclosed noncurrent assets     31
Total noncurrent assets:1,4101,172867796652601
TOTAL ASSETS:3,6723,2452,4051,8891,6481,465
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities583693447336283276
Employee-related liabilities28916614210498
Accounts payable207319212142137140
Accrued liabilities3768569524238
Deferred revenue101112 
Debt3600182827
Other undisclosed current liabilities15125   
Total current liabilities:612776464354310303
Noncurrent Liabilities
Long-term debt and lease obligation275354373226202145
Long-term debt, excluding current maturities275278312161202145
Liabilities, other than long-term debt1819885524743
Deferred tax liabilities, net1614
Deferred income tax liabilities51612523
Other liabilities453760293129
Operating lease, liability85776265
Total noncurrent liabilities:457453458278249187
Total liabilities:1,0681,229922632559491
Temporary equity, carrying amount7     
Equity
Equity, attributable to parent2,5641,9791,4601,2441,073959
Common stock626261616161
Additional paid in capital294244218192179162
Accumulated other comprehensive income (loss)(9)(5)(2)(5)(6)0
Retained earnings2,2171,6781,183995840736
Equity, attributable to noncontrolling interest333823141515
Total equity:2,5972,0171,4831,2581,089974
TOTAL LIABILITIES AND EQUITY:3,6723,2452,4051,8891,6481,465

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues9,6278,6365,1544,4924,5663,941
Revenue, net3,941
Cost of revenue(7,837)(7,229)(4,354)(3,730)(3,896)(3,398)
Other undisclosed gross profit    (76)(77) 
Gross profit:1,7891,407800686593543
Operating expenses(832)(682)(445)(439)(386)(361)
Other operating income (expense), net(7)13    
Other undisclosed operating loss   (10)(2)  
Operating income:950738346245207181
Nonoperating income (expense)(15)(11)2(4)(9)(5)
Investment income, nonoperating162211
Interest and debt expense(14)(14)(9)(9)(9)(6)
Other undisclosed income from continuing operations before equity method investments, income taxes     9 
Income from continuing operations before equity method investments, income taxes:921713339232198170
Income (loss) from equity method investments(2)(4)23 0
Other undisclosed income from continuing operations before income taxes1618 6 6
Income from continuing operations before income taxes:935726341241198176
Income tax expense(230)(174)(87)(58)(45)(52)
Income from continuing operations:705552254182152124
Income before gain (loss) on sale of properties:552254182152124
Net income:705552254182152124
Net income (loss) attributable to noncontrolling interest(12)(17)(7)(3)(4)(5)
Net income attributable to parent:693536247180149120
Undistributed earnings (loss) allocated to participating securities, basic(27)(17)(7)(4)(3)(2)
Net income available to common stockholders, diluted:665518240175145117

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:705552254182152124
Other comprehensive income (loss)(2)(5)62(5)6
Comprehensive income:702547260184147130
Comprehensive loss, net of tax, attributable to noncontrolling interest(13)(15)(10)(3)(4)(5)
Comprehensive income, net of tax, attributable to parent:689532250181143125

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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