Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Jan. 04, 2014 | Feb. 24, 2014 | Jun. 29, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'BlueLinx Holdings Inc. | ' | ' |
Entity Central Index Key | '0001301787 | ' | ' |
Trading Symbol | 'bxc | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Current Fiscal Year End Date | '--01-04 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Well-Known Seasoned Issuer | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 87,621,553 | ' |
Entity Public Float | ' | ' | $54,108,842 |
Document Type | '10-K | ' | ' |
Document Period End Date | 4-Jan-14 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Jan. 04, 2014 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $5,034 | $5,188 |
Receivables, less allowances of $4,359 in fiscal 2013 and $4,720 in fiscal 2012 | 150,297 | 157,465 |
Inventories, net | 223,580 | 230,059 |
Other current assets | 22,814 | 19,427 |
Total current assets | 401,725 | 412,139 |
Property and equipment: | ' | ' |
Land and improvements | 41,176 | 43,120 |
Buildings | 90,082 | 94,070 |
Machinery and equipment | 73,004 | 78,674 |
Construction in progress | 3,028 | 1,173 |
Property and equipment, at cost | 207,290 | 217,037 |
Accumulated depreciation | -96,171 | -101,684 |
Property and equipment, net | 111,119 | 115,353 |
Non-current deferred income tax assets, net | 824 | 445 |
Other non-current assets | 16,578 | 16,799 |
Total assets | 530,246 | 544,736 |
Current liabilities: | ' | ' |
Accounts payable | 60,363 | 77,850 |
Bank overdrafts | 19,377 | 35,384 |
Accrued compensation | 4,173 | 6,170 |
Current maturities of long-term debt | 9,141 | 8,946 |
Deferred income taxes, net | 823 | 449 |
Other current liabilities | 12,949 | 10,937 |
Total current liabilities | 106,826 | 139,736 |
Non-current liabilities: | ' | ' |
Long-term debt | 388,995 | 368,446 |
Other non-current liabilities | 40,323 | 57,146 |
Total liabilities | 536,144 | 565,328 |
STOCKHOLDERS' DEFICIT | ' | ' |
Common Stock, $0.01 par value, 200,000,000 and 100,000,000 shares authorized at January 4, 2014 and December 29, 2012, respectively; 86,545,000 and 63,664,115 shares issued and outstanding at January 4, 2014 and December 29, 2012, respectively | 866 | 637 |
Additional paid-in-capital | 251,150 | 209,815 |
Accumulated other comprehensive loss | -16,293 | -30,042 |
Accumulated deficit | -241,621 | -201,002 |
Total stockholders' deficit | -5,898 | -20,592 |
Total liabilities and stockholders' deficit | $530,246 | $544,736 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Allowances for receivables (in dollars) | $4,359 | $4,720 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 100,000,000 |
Common stock, shares issued | 86,545,000 | 63,664,115 |
Common stock, shares outstanding | 86,545,000 | 63,664,115 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Operations and Comprehensive Loss [Abstract] | ' | ' | ' |
Net sales | $2,151,972 | $1,907,842 | $1,755,431 |
Cost of sales | 1,923,489 | 1,677,772 | 1,545,282 |
Gross profit | 228,483 | 230,070 | 210,149 |
Operating expenses: | ' | ' | ' |
Selling, general, and administrative | 240,667 | 215,996 | 207,857 |
Depreciation and amortization | 9,117 | 8,565 | 10,562 |
Total operating expenses | 249,784 | 224,561 | 218,419 |
Operating (loss) income | -21,301 | 5,509 | -8,270 |
Non-operating expenses (income): | ' | ' | ' |
Interest expense | 28,024 | 28,157 | 30,510 |
Changes associated with the ineffective interest rate swap | ' | ' | -1,676 |
Other expense (income), net | 306 | -7 | 501 |
Loss before (benefit from) provision for income taxes | -49,631 | -22,641 | -37,605 |
(Benefit from) provision for income taxes | -9,013 | 386 | 962 |
Net loss | -40,618 | -23,027 | -38,567 |
Basic and diluted weighted average number of common shares outstanding (in shares) | 80,163,000 | 65,452,000 | 47,049,000 |
Basic and diluted net loss per share applicable to common shares outstanding (in dollars per share) | ($0.51) | ($0.35) | ($0.82) |
Comprehensive loss: | ' | ' | ' |
Net loss | -40,618 | -23,027 | -38,567 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation, net of taxes | -161 | 103 | -92 |
Unrealized gain (loss) from pension plan, net of taxes | 13,910 | -8,245 | -14,969 |
Unrealized gain from ineffective interest rate swap, net of taxes | ' | ' | 519 |
Total other comprehensive income (loss) | 13,749 | -8,142 | -14,542 |
Comprehensive loss | ($26,869) | ($31,169) | ($53,109) |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($40,618) | ($23,027) | ($38,567) |
Adjustments to reconcile net loss to cash used in operations: | ' | ' | ' |
Depreciation and amortization | 9,117 | 8,565 | 10,562 |
Amortization of debt issue costs | 3,184 | 3,746 | 2,940 |
Write-off of debt issue costs | 119 | ' | ' |
Gain from sale of properties | -5,220 | -9,885 | -10,604 |
Gain from property insurance settlements | ' | -476 | -1,230 |
Changes associated with the ineffective interest rate swap | ' | ' | -1,676 |
Vacant property charges, net | 1,321 | -30 | -291 |
Severance charges | 5,607 | ' | ' |
Gain from modification of lease agreement | ' | ' | -1,971 |
Payments on modification on lease agreement | -300 | -5,875 | ' |
Deferred income tax benefit | -5 | -20 | -25 |
Intraperiod income tax allocation related to hourly pension plan | -8,894 | ' | ' |
Pension expense | 4,591 | 3,942 | 1,774 |
Share-based compensation, excluding restructuring related | 3,222 | 2,797 | 1,974 |
Share-based compensation, restructuring related | 2,895 | ' | ' |
(Increase) decrease in restricted cash related to the ineffective interest rate swap, insurance, and other | -1,810 | 695 | 987 |
Accrued compensation and other | -9,152 | -657 | -3,181 |
Adjustments to reconcile net loss to cash used in operations, Total | -35,943 | -20,225 | -39,308 |
Changes in assets and liabilities: | ' | ' | ' |
Receivables | 7,168 | -18,593 | -19,670 |
Inventories | 6,479 | -44,482 | 2,673 |
Accounts payable | -17,585 | 9,050 | 5,973 |
Net cash used in operating activities | -39,881 | -74,250 | -50,332 |
Cash flows from investing activities: | ' | ' | ' |
Property, plant and equipment investments | -4,912 | -2,826 | -6,533 |
Proceeds from disposition of assets | 10,365 | 19,195 | 18,355 |
Net cash provided by investing activities | 5,453 | 16,369 | 11,822 |
Cash flows from financing activities: | ' | ' | ' |
Excess tax benefits from share-based compensation arrangements | 16 | ' | ' |
Repurchase of shares to satisfy employee tax withholdings | -3,192 | -526 | ' |
Repayments on revolving credit facilities | -560,186 | -473,349 | -478,630 |
Borrowings from revolving credit facilities | 599,968 | 550,270 | 475,918 |
Principal payments on mortgage | -19,038 | -37,272 | -42,416 |
Payments on capital lease obligations | -3,142 | -2,259 | -1,440 |
(Decrease) increase in bank overdrafts | -16,007 | 13,020 | -725 |
Decrease in restricted cash related to the mortgage | 40 | 9,970 | 20,604 |
Debt financing costs | -2,900 | -1,683 | -2,721 |
Proceeds from stock offering less expenses paid | 38,715 | ' | 58,521 |
Net cash provided by financing activities | 34,274 | 58,171 | 29,111 |
(Decrease) increase in cash | -154 | 290 | -9,399 |
Cash and cash equivalents balance, beginning of period | 5,188 | 4,898 | 14,297 |
Cash and cash equivalents balance, end of period | 5,034 | 5,188 | 4,898 |
Supplemental Cash Flow Information | ' | ' | ' |
Net income tax payments during the period | -332 | -508 | -22 |
Interest paid during the period | 24,706 | 24,288 | 28,098 |
Noncash transactions: | ' | ' | ' |
Capital leases | $5,069 | $5,238 | $3,131 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (USD $) | Common Stock | Additional Paid-In-Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Total |
In Thousands, unless otherwise specified | |||||
Balance at Jan. 01, 2011 | $327 | $147,427 | ($7,358) | ($139,405) | $991 |
Balance (in shares) at Jan. 01, 2011 | 32,668 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | -38,567 | -38,567 |
Foreign currency translation adjustment, net of tax | ' | ' | -92 | ' | -92 |
Unrealized gain (loss) from pension plan, net of tax | ' | ' | -14,969 | ' | -14,969 |
Unrealized gain from cash flow hedge, net of tax | ' | ' | 519 | ' | 519 |
Issuance of restricted stock, net of forfeitures | 7 | ' | ' | ' | 7 |
Issuance of restricted stock, net of forfeitures (in shares) | 774 | ' | ' | ' | ' |
Issuance of stock related to the rights offerings, net of expenses | 286 | 58,235 | ' | ' | 58,521 |
Issuance of stock related to rights offerings, net of expenses (in shares) | 28,571 | ' | ' | ' | ' |
Compensation related to share-based grants | ' | 2,158 | ' | ' | 2,158 |
Impact of net settled shares for vested grants | ' | -194 | ' | ' | -194 |
Balance at Dec. 31, 2011 | 620 | 207,626 | -21,900 | -177,972 | 8,374 |
Balance (in shares) at Dec. 31, 2011 | 62,013 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | -23,027 | -23,027 |
Foreign currency translation adjustment, net of tax | ' | ' | 103 | ' | 103 |
Unrealized gain (loss) from pension plan, net of tax | ' | ' | -8,245 | ' | -8,245 |
Issuance of restricted stock, net of forfeitures | 19 | ' | ' | ' | 19 |
Issuance of restricted stock, net of forfeitures (in shares) | 1,875 | ' | ' | ' | ' |
Compensation related to share-based grants | ' | 2,730 | ' | ' | 2,730 |
Impact of net settled shares for vested grants | -2 | -524 | ' | ' | -526 |
Impact of net settled shares for vested grants (in shares) | -224 | ' | ' | ' | ' |
Other | ' | -17 | ' | -3 | -20 |
Balance at Dec. 29, 2012 | 637 | 209,815 | -30,042 | -201,002 | -20,592 |
Balance (in shares) at Dec. 29, 2012 | 63,664 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | -40,618 | -40,618 |
Foreign currency translation adjustment, net of tax | ' | ' | -161 | ' | -161 |
Unrealized gain (loss) from pension plan, net of tax | ' | ' | 13,910 | ' | 13,910 |
Issuance of restricted stock, net of forfeitures | 6 | ' | ' | ' | 6 |
Issuance of restricted stock, net of forfeitures (in shares) | 651 | ' | ' | ' | ' |
Issuance of performance shares | 6 | ' | ' | ' | 6 |
Issuance of performance shares (in shares) | 628 | ' | ' | ' | ' |
Issuance of stock related to the rights offerings, net of expenses | 229 | 38,384 | ' | ' | 38,613 |
Issuance of stock related to rights offerings, net of expenses (in shares) | 22,857 | ' | ' | ' | ' |
Compensation related to share-based grants | ' | 6,117 | ' | ' | 6,117 |
Impact of net settled shares for vested grants | -12 | -3,181 | ' | ' | -3,193 |
Impact of net settled shares for vested grants (in shares) | -1,255 | ' | ' | ' | ' |
Excess tax benefits from share-based compensation arrangements | ' | 16 | ' | ' | 16 |
Other | ' | -1 | ' | -1 | -2 |
Balance at Jan. 04, 2014 | $866 | $251,150 | ($16,293) | ($241,621) | ($5,898) |
Balance (in shares) at Jan. 04, 2014 | 86,545 | ' | ' | ' | ' |
Basis_of_Presentation_and_Back
Basis of Presentation and Background | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||
Basis of Presentation and Background | ' | ||||||||||||
1. Basis of Presentation and Background | |||||||||||||
Basis of Presentation | |||||||||||||
BlueLinx Holdings Inc., operating through our wholly-owned subsidiary, BlueLinx Corporation (BlueLinx Holdings Inc. and its subsidiaries are collectively referred to as “BlueLinx” or the “Company”), is a leading distributor of building products in North America, with approximately 1,700 employees as of January 4, 2014. We offer approximately 10,000 products from over 750 suppliers to service approximately 11,500 customers nationwide, including dealers, industrial manufacturers, manufactured housing producers and home improvement retailers. We operate our distribution business from sales centers in Atlanta and Denver, and our current network of approximately 50 distribution centers. The Consolidated Financial Statements include our accounts and those of our wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Fiscal 2013 contained 53 weeks. Fiscal 2012 and fiscal 2011 each contained 52 weeks. Our fiscal quarters are quarters based on a 5-4-4 week period, with the exception of the fourth fiscal quarter of fiscal years containing 53 weeks, which are based on a 5-4-5 week period. | |||||||||||||
Nature of Operations | |||||||||||||
We are a wholesale supplier of building products in North America. We distribute products in two principal categories: structural products and specialty products. Structural products include plywood, oriented strand board (“OSB”), rebar and remesh, lumber and other wood products primarily used for structural support, walls and flooring in construction projects. Specialty products include roofing, insulation, moulding, engineered wood, vinyl products (used primarily in siding), outdoor living and metal products (excluding rebar and remesh). These products are sold to a diversified customer base, including independent building materials dealers, industrial and manufactured housing builders and home improvement centers. Net sales by product category are summarized below: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(Dollars in millions) | |||||||||||||
Sales by category | |||||||||||||
Structural products | $ | 968 | $ | 806 | $ | 705 | |||||||
Specialty products | 1,200 | 1,114 | 1,068 | ||||||||||
Unallocated allowances and adjustments | (16 | ) | (12 | ) | (18 | ) | |||||||
Total sales | $ | 2,152 | $ | 1,908 | $ | 1,755 | |||||||
Suppliers | |||||||||||||
As of January 4, 2014, our vendor base included over 750 suppliers of both structural and specialty building products. In some cases, these products are branded. We have supply contracts in place with many of our vendors. Terms for these agreements frequently include prompt payment discounts and freight allowances and occasionally include volume discounts, growth incentives, marketing allowances, consigned inventory and extended payment terms. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Jan. 04, 2014 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Summary of Significant Accounting Policies | ' | ||||||||
2. Summary of Significant Accounting Policies | |||||||||
Revenue Recognition | |||||||||
We recognize revenue when the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred or services have been rendered, our price to the buyer is fixed and determinable and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title and assumes the risks and rewards of ownership. The timing of revenue recognition is largely dependent on shipping terms. For sales transactions designated as FOB (free on board) shipping point, revenue is recorded at the time of shipment. For sales transactions designated FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site. | |||||||||
All revenues are recorded gross. The key indicators used to determine when and how revenue is recorded are as follows: | |||||||||
● | We are the primary obligor responsible for fulfillment and all other aspects of the customer relationship. | ||||||||
● | Title passes from BlueLinx, and we carry all risk of loss related to warehouse and third-party (“reload”) inventory and inventory shipped directly from vendors to our customers. | ||||||||
● | We are responsible for all product returns. | ||||||||
● | We control the selling price for all channels. | ||||||||
● | We select the supplier. | ||||||||
● | We bear all credit risk. | ||||||||
In addition, we provide inventory to certain customers through pre-arranged agreements on a consignment basis. Customer consigned inventory is maintained and stored by certain customers; however, ownership and risk of loss remains with us. When the inventory is sold by the customer, we recognize revenue on a gross basis. Customer consigned inventory at January 4, 2014, and December 29, 2012 was approximately $10.1 million and $10.3 million, respectively. | |||||||||
All revenues are recorded after trade allowances, cash discounts and sales returns are deducted. Cash discounts and sales returns are estimated using historical experience. Trade allowances are based on the estimated obligations and historical experience. | |||||||||
Cash and Cash Equivalents | |||||||||
Cash and cash equivalents include all highly-liquid investments with maturity dates of less than three months when purchased. | |||||||||
Restricted Cash | |||||||||
We had restricted cash of $11.7 million and $9.9 million at January 4, 2014, and December 29, 2012, respectively. Restricted cash primarily includes amounts held in escrow related to our mortgage and insurance for workers’ compensation, auto liability, and general liability. Restricted cash is included in “Other current assets” and “Other non-current assets” on the accompanying Consolidated Balance Sheets. | |||||||||
The table below provides the balances of each individual component in restricted cash as of January 4, 2014, and December 29, 2012 (in thousands): | |||||||||
At January 4, | At December 29, | ||||||||
2014 | 2012 | ||||||||
Cash in escrow: | |||||||||
Mortgage | $ | — | $ | 40 | |||||
Insurance | 7,921 | 7,906 | |||||||
Other | 3,760 | 1,965 | |||||||
Total | $ | 11,681 | $ | 9,911 | |||||
During fiscal 2013, 2012 and 2011, changes in restricted cash required under our mortgage were classified in the financing section of our Consolidated Statement of Cash Flows. On September 19, 2012, we entered into an amendment to our mortgage agreement, which provided for the immediate prepayment of approximately $11.8 million of the indebtedness under the mortgage agreement. In addition, on a quarterly basis, starting with the fourth quarter of fiscal 2012, additional funds held as collateral under the mortgage agreement were used to prepay indebtedness under the mortgage agreement, without prepayment premium, up to an aggregate additional prepayment of $10.0 million. Thereafter, any cash remaining in the collateral account under the mortgage agreement, up to an aggregate of $10.0 million, is released to the Company on the last business day of each calendar quarter through the third quarter of fiscal 2014. All funds released pursuant to these provisions may be used by the Company to pay for usual and customary operating expenses. During the period described above in which cash in the collateral account is used to either prepay indebtedness under the mortgage agreement or released to the Company, the lenders will not release any of the cash collateral to the Company for specified capital expenditures as previously provided under the mortgage agreement. | |||||||||
Concentrations of Credit Risk | |||||||||
Our receivables are principally from customers in the building products industry located in the United States and Canada. We believe concentration of credit risk with respect to receivables is limited due to the large number of customers comprising our customer base. None of our customers individually constitute more than 10% of fiscal 2013 sales. | |||||||||
Allowance for Doubtful Accounts and Related Reserves | |||||||||
We evaluate the collectability of receivables based on numerous factors, including past transaction history with customers and their creditworthiness. We maintain an allowance for doubtful accounts for each aging category on our aged trial balance, which is aged utilizing contractual terms, based on our historical loss experience. This estimate is periodically adjusted when we become aware of specific customers’ inability to meet their financial obligations (e.g., bankruptcy filing or other evidence of liquidity problems). As we determine that specific balances ultimately will be uncollectible, we remove them from our aged trial balance. Additionally, we maintain reserves for cash discounts that we expect customers to earn as well as expected returns. At January 4, 2014, and December 29, 2012, these reserves totaled $4.4 million and $4.7 million, respectively. | |||||||||
Inventory Valuation | |||||||||
Inventories are carried at the lower of cost or market. The cost of all inventories is determined by the moving average cost method. We have included all material charges directly or indirectly incurred in bringing inventory to its existing condition and location. We evaluate our inventory value at the end of each quarter to ensure that first quality, actively moving inventory, when viewed by category, is carried at the lower of cost or market. During the second quarter of fiscal 2013, we recorded in “Cost of sales” in the Consolidated Statements of Operations and Comprehensive Loss a lower of cost or market charge of $3.8 million related to declines in prices for our lumber, oriented strand board (“OSB”) and plywood inventory. As we sold through inventory impacted by this reserve during the third quarter of fiscal 2013 and prices of lumber, OSB and plywood stabilized, the reserve was reduced to zero as of January 4, 2014. | |||||||||
Additionally, we maintain a reserve for the estimated value impairment associated with damaged, excess and obsolete inventory. The damaged, excess and obsolete reserve generally includes discontinued items or inventory that has turn days in excess of 270 days, excluding new items during their product launch. At January 4, 2014, and December 29, 2012, our damaged, excess and obsolete inventory reserves were $1.8 million and $1.1 million, respectively. During the second quarter of fiscal 2013, approximately $1.0 million was recorded in “Cost of sales” in the Consolidated Statements of Operations and Comprehensive Loss for damaged, excess and obsolete inventory related to the closure of five distribution centers. There was $0.3 million of this reserve remaining as of January 4, 2014, related to this inventory. We discuss the closure or ceasing of operations of these distribution centers, which is included in our 2013 restructuring plan (the “2013 restructuring”), further in “Note 3 – Restructuring Charges”. | |||||||||
Consignment Inventory | |||||||||
We enter into consignment inventory agreements with vendors. This vendor consignment inventory relationship allows us to obtain and store vendor inventory at our warehouses and third-party (“reload”) facilities; however, ownership and risk of loss generally remains with the vendor. When the inventory is sold, we are required to pay the vendor, and we simultaneously take and transfer ownership from the vendor to the customer. | |||||||||
Consideration Received from Vendors and Paid to Customers | |||||||||
Each year, we enter into agreements with many of our vendors providing for inventory purchase rebates, generally based on achievement of specified volume purchasing levels. We also receive rebates related to price protection and various marketing allowances that are common industry practice. We accrue for the receipt of vendor rebates based on purchases, and also reduce inventory to reflect the net acquisition cost (purchase price less expected purchase rebates). At January 4, 2014, and December 29, 2012, the vendor rebate receivable totaled $7.6 million and $9.0 million, respectively. Adjustments to earnings resulting from revisions to rebate estimates have been immaterial. | |||||||||
In addition, we enter into agreements with many of our customers to offer customer rebates, generally based on achievement of specified volume sales levels and various marketing allowances that are common industry practice. We accrue for the payment of customer rebates based on sales to the customer, and also reduce sales to reflect the net sales (sales price less expected customer rebates). At January 4, 2014, and December 29, 2012, the customer rebate payable totaled $6.3 million and $5.5 million, respectively. Adjustments to earnings resulting from revisions to rebate estimates have been immaterial. | |||||||||
Shipping and Handling | |||||||||
Amounts billed to customers in sales transactions related to shipping and handling are classified as revenue. Shipping and handling costs included in “Selling, general, and administrative” expenses were $99.7 million, $91.2 million, and $87.9 million for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. | |||||||||
Advertising Costs | |||||||||
Advertising costs are expensed as incurred. Advertising expenses of $1.2 million, $1.1 million, and $1.9 million were included in “Selling, general and administrative” expenses for fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||
Loss per Common Share | |||||||||
We calculate our basic loss per share by dividing net loss by the weighted average number of common shares and participating securities outstanding for the period. Restricted stock granted by us to certain management employees and non-employee directors participate in dividends on the same basis as common shares and are non-forfeitable by the holder. The unvested restricted stock contains non-forfeitable rights to dividends or dividend equivalents. As a result, these share-based awards meet the definition of a participating security and are included in the weighted average number of common shares outstanding, pursuant to the two-class method, for the periods that present net income. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common stockholders. | |||||||||
Given that the restricted stockholders do not have a contractual obligation to participate in the losses and the inclusion of such unvested restricted shares in our basic and dilutive per share calculations would be anti-dilutive, we have not included these amounts in our weighted average number of common shares outstanding for periods in which we report a net loss. Therefore, we have not included 1,618,283, 3,554,738 and 2,361,424 of unvested restricted shares that had the right to participate in dividends in our basic and dilutive calculations for fiscal 2013, fiscal 2012, and fiscal 2011, respectively, because all periods reflected net losses. | |||||||||
Except when the effect would be anti-dilutive, the diluted earnings per share calculation includes the dilutive effect of the assumed exercise of stock options and performance shares using the treasury stock method. During fiscal 2013, we granted 2,969,424 performance shares under our 2006 Long-Term Equity Incentive Plan (the “2006 Plan”) in which shares are issuable upon satisfaction of certain performance criteria. As of January 4, 2014, we assumed that 2,192,868 of these performance shares will vest, net of forfeitures and vestings to date, based on our assumption that meeting the performance criteria is probable. The performance shares are not considered participating shares under the two-class method because they do not receive any non-transferable rights to dividends. The 2,192,868 performance shares we assume will vest were not included in the computation of diluted earnings per share calculation because they were antidilutive. | |||||||||
Except when the effect would be anti-dilutive, the diluted earnings per share calculation includes the dilutive effect of the assumed exercise of stock options and performance shares using the treasury stock method. As we experienced losses in all periods, basic and diluted loss per share are computed by dividing net loss by the weighted average number of common shares outstanding for the period. For fiscal 2013, fiscal 2012, and fiscal 2011, we excluded 4,595,650, 4,460,054 and 3,266,740 unvested share-based awards, respectively, from the diluted earnings per share calculation because they were anti-dilutive. The unvested share-based awards total excludes the assumed exercise of unexpired stock options. | |||||||||
On March 27, 2013, we completed a rights offering of common stock to our stockholders (the “2013 Rights Offering”) at a subscription price that was lower than the market price of our common stock. The 2013 Rights Offering was deemed to contain a bonus element that is similar to a stock dividend, requiring us to adjust the weighted average number of common shares used to calculate basic and diluted earnings per share in prior periods retrospectively by a factor of 1.0894. Weighted average shares for fiscal 2012 prior to giving effect to the 2013 Rights Offering were 60,079,528 and 65,451,808 after application of the adjustment factor above. Weighted average shares for fiscal 2011 prior to giving effect to the 2013 Rights Offering were 43,187,315 and 47,049,102 after application of the adjustment factor above. | |||||||||
Common Stock Dividends | |||||||||
On December 5, 2007, our Board of Directors suspended the payment of dividends on our common stock for an indefinite period of time. Resumption of the payment of dividends will depend on, among other things, business conditions in the housing industry, our results of operations, cash requirements, financial condition, contractual restrictions, provisions of applicable law and other factors that our Board of Directors may deem relevant. Accordingly, we may not be able to resume the payment of dividends at the same quarterly rate in the future, if at all. | |||||||||
Property and Equipment | |||||||||
Property and equipment are recorded at cost. Lease obligations for which we assume or retain substantially all the property rights and risks of ownership are capitalized. Replacements of major units of property are capitalized and the replaced properties are retired. Replacements of minor components of property and repair and maintenance costs are charged to expense as incurred. | |||||||||
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Useful lives are 2 to 18 years for land improvements, 5 to 40 years for buildings, and 3 to 7 years for machinery and equipment, which includes mobile equipment. Upon retirement or disposition of assets, cost and accumulated depreciation are removed from the related accounts and any gain or loss is included in income. Depreciation expense totaled $9.1 million for fiscal 2013, $8.4 million for fiscal 2012 and $10.4 million for fiscal 2011. | |||||||||
During fiscal 2013, we sold certain properties with carrying values of $3.9 million, which resulted in gains totaling $5.2 million. During fiscal 2012, we sold certain properties with carrying values of $7.4 million, which resulted in gains totaling $9.9 million. These gains are recorded in “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. All of these properties in fiscal 2013 and fiscal 2012 were classified as held for sale. See Note 4 for discussion of the held for sale properties sold during the year. | |||||||||
Impairment of Long-Lived Assets | |||||||||
Long-lived assets, including property and equipment and intangible assets with definite useful lives, are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. | |||||||||
We consider whether there were indicators of potential impairment on a quarterly basis. Indicators of impairment include current period losses combined with a history of losses, management’s decision to exit a facility, reductions in the fair market value of real properties and changes in other circumstances that indicate the carrying amount of an asset may not be recoverable. | |||||||||
Our evaluation of long-lived assets is performed at the lowest level of identifiable cash flows, which is generally the individual distribution facility. In the event of indicators of impairment, the assets of the distribution facility are evaluated by comparing the facility’s undiscounted cash flows over the estimated useful life of the asset, which ranges between 5-40 years, to its carrying value. If the carrying value is greater than the undiscounted cash flows, an impairment loss is recognized for the difference between the carrying value of the asset and the estimated fair market value. Impairment losses are recorded as a component of “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Our estimate of undiscounted cash flows is subject to assumptions that affect estimated operating income at a distribution facility level. These assumptions are related to future sales, margin growth rates, economic conditions, market competition and inflation. In the event that undiscounted cash flows do not exceed the carrying value of a facility, our estimates of fair market value are generally based on market appraisals and our experience with related market transactions. We use a two year average of cash flows based on 2013 EBITDA and 2014 projected EBITDA, which includes a growth factor assumption, to estimate undiscounted cash flows. These assumptions used to determine impairment are considered to be level 3 measurements in the fair value hierarchy as defined in Note 13. | |||||||||
While operating results have declined during the past several years as they are closely tied to U.S. housing starts, during fiscal 2012 we began to see signs of a housing recovery, and our results have improved; however, our sales are still below normal levels. To the extent that reductions in volume and operating income have resulted in impairment indicators, in all cases our carrying values continue to be less than our projected undiscounted cash flows. As such, we have not identified significant known trends impacting the fair value of long-lived assets to an extent that would indicate impairment. | |||||||||
During the first quarter of fiscal 2011 our Newtown, CT facility was damaged due to severe winter weather. As a result of the damage to the facility and its contents we received approximately $5.8 million in proceeds from the insurance company comprised of $2.2 million related to the damaged building, $2.4 million related to damaged and destroyed inventory and $1.2 million related to the recovery of additional expenses incurred as a result of the damage. Cash received related to the damaged building was classified as an investing cash inflow in our Consolidated Statements of Cash Flows and used to reduce the principal of our mortgage. All other cash inflows related to the insurance settlement were classified as operating cash flows in our Consolidated Statements of Cash Flows. The majority of the remaining cash inflows were used to fund costs incurred related to the Newtown loss. We recognized a $1.4 million gain in fiscal 2011 of which $1.2 million related to the damaged building and $0.2 million related to the recovery of gross margin on the inventory. We recorded the gain at the time that the recovery of the minimum expected proceeds under our insurance policy became probable and was estimable. This gain was recorded in “Selling, general and administrative expenses” in our Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Share-Based Compensation | |||||||||
We recognize compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. This expense is recorded on a straight-line basis over the requisite service period of the entire award, unless the awards are subject to market or performance conditions, in which case we recognize compensation expense over the requisite service period of each separate vesting tranche to the extent market and performance conditions are considered probable. The calculation of fair value related to share-based compensation is subject to certain assumptions discussed in more detail in Note 7. Management updates such estimates when circumstances warrant. All compensation expense related to our share-based payment awards is recorded in “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Income Taxes | |||||||||
Deferred income taxes are provided using the liability method. Accordingly, deferred income taxes are recognized for differences between the income tax and financial reporting bases of our assets and liabilities based on enacted tax laws and tax rates applicable to the periods in which the differences are expected to affect taxable income. We recognize a valuation allowance, when based on the weight of all available evidence, we believe it is more likely than not that some or all of our deferred tax assets will not be realized. In evaluating our ability to recover our deferred income tax assets, we considered available positive and negative evidence, including our past operating results, our ability to carryback losses against prior taxable income, the existence of cumulative losses in the most recent years, our forecast of future taxable income and an excess of appreciated assets over the tax basis of our net assets. In estimating future taxable income, we developed assumptions including the amount of future state and federal pretax operating and non-operating income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions required significant judgment about the forecasts of future taxable income. When we considered all of the available positive and negative evidence, when based on the weight of all available evidence, we believe it is more likely than not that some or all of our deferred tax assets will not be realized. Such amounts are disclosed in Note 5 of the Notes to the Consolidated Financial Statements. | |||||||||
If the realization of deferred tax assets in the future is considered more likely than not, a reduction to the valuation allowance related to the deferred tax assets would increase net income in the period such determination is made. The amount of the deferred tax asset considered realizable is based on significant estimates, and it is possible that changes in these estimates could materially affect the financial condition and results of operations. Our effective tax rate may vary from period to period based on changes in estimated taxable income or loss; changes to the valuation allowance; changes to federal or state tax laws; and as a result of acquisitions. | |||||||||
We generally believe that the positions taken on previously filed tax returns are more likely than not to be sustained by the taxing authorities. We have recorded income tax and related interest liabilities where we believe our position may not be sustained. Such amounts are disclosed in Note 5 of the Notes to the Consolidated Financial Statements. | |||||||||
Foreign Currency Translation | |||||||||
The functional currency for our Canadian operations is the Canadian dollar. The translation of the applicable currencies into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. Any related translation adjustments are recorded directly in stockholders’ equity. Foreign currency transaction gains and losses are reflected in the Consolidated Statements of Operations and Comprehensive Loss. Accumulated other comprehensive loss at January 4, 2014, and December 29, 2012 included the accumulated gain from foreign currency translation (net of tax) of $1.6 million and $1.8 million, respectively. | |||||||||
Compensated Absences | |||||||||
We accrue for the costs of compensated absences to the extent that the employee’s right to receive payment relates to service already rendered, the obligation vests or accumulates, payment is probable and the amount can be reasonably estimated. | |||||||||
Use of Estimates | |||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. | |||||||||
Reclassifications | |||||||||
During fiscal 2012, we classified certain amounts, which had historically been presented as “Property, plant and equipment investments” in the “Cash flows from investing activities” section of the Consolidated Statements of Cash Flows to “Other” changes in the “Cash flows from operating activities” section of the Consolidated Statements of Cash Flows. To conform the historical presentation to the current and future presentation, we reclassified similar items in prior periods from “Net cash (used in) provided by investing activities” to “Net cash used in operating activities” in our Consolidated Statements of Cash Flows. The presentation of these same items during fiscal 2013 is consistent with the adjusted presentation in fiscal 2012 and will be going forward. | |||||||||
New Accounting Standards | |||||||||
In the first quarter of fiscal 2013, the Financial Accounting Standards Board (the “FASB”) issued an amendment to previously issued guidance which requires companies to report, in one place, information about reclassifications out of accumulated other comprehensive income (“AOCI”). The update also requires companies to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. In certain circumstances, this can be done on the face of that statement. Otherwise, it must be presented in the notes. For items not reclassified to net income in their entirety in the period, companies must cross-reference in a note to other required disclosures. The amendments are effective for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. We adopted this guidance during the first quarter of fiscal 2013; refer to “Note 17 – Accumulated Other Comprehensive Loss” for the required disclosures. | |||||||||
There were no other accounting pronouncements adopted during fiscal 2013 that had a material impact on our financial statements. |
Restructuring_Charges
Restructuring Charges | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Restructuring Charges | ' | ||||||||||||
3. Restructuring Charges | |||||||||||||
We account for exit and disposal costs by recognizing a liability for costs associated with an exit or disposal activity at fair value in the period in which it is incurred or when the entity ceases using the right conveyed by a contract (i.e., the right to use a leased property). We account for severance and outplacement costs by recognizing a liability for employees’ rights to post-employment benefits when management has committed to a plan, due to the existence of a post employment benefit agreement. These costs are included in “Selling, general, and administrative” expenses in the Consolidated Statements of Operations and Comprehensive Loss for the fiscal years ended January 4, 2014, December 29, 2012, and December 31, 2011, and in “Accrued compensation” on the Consolidated Balance Sheets at January 4, 2014 and December 29, 2012. | |||||||||||||
2013 Facility Lease Obligation and Severance Costs | |||||||||||||
During the second quarter of fiscal 2013, we announced the 2013 restructuring which included the realignment of headquarters resources and the strategic review of our distribution centers. This review resulted in the Company designating five distribution centers to be sold or closed. These distribution centers were closed or ceased operations during the third quarter of fiscal 2013. During the second quarter of fiscal 2013, we also announced that George R. Judd no longer would serve as President and Chief Executive Officer of the Company (the “change in executive leadership”). In connection with the 2013 restructuring and the change in executive leadership the Company has recognized severance related charges of $5.6 million and $2.9 million of related share-based compensation charges in “Selling, general, and administrative” expenses in the Consolidated Statements of Operations and Comprehensive Loss during fiscal 2013. In addition, the Company has recognized facility lease obligation charges of $1.3 million for two closed facilities in “Selling, general, and administrative” expenses in the Consolidated Statements of Operations and Comprehensive Loss during fiscal 2013. | |||||||||||||
The table below summarizes the balance of reduction in force activities and the related accrued facility lease obligation reserve and the changes in the accrual for fiscal 2013 (in thousands): | |||||||||||||
Reduction in | Facility Lease | Total | |||||||||||
Force | Obligation | ||||||||||||
Activities | |||||||||||||
Balance at December 29, 2012 | $ | — | $ | — | $ | — | |||||||
Charges | 5,709 | 1,398 | 7,107 | ||||||||||
Assumption changes | (102 | ) | (77 | ) | (179 | ) | |||||||
Payments | (3,057 | ) | (402 | ) | (3,459 | ) | |||||||
Accretion of Liability | — | 9 | 9 | ||||||||||
Balance at January 4, 2014 | $ | 2,550 | $ | 928 | $ | 3,478 | |||||||
In addition to the charges described above, as a result of the 2013 restructuring we recorded approximately $1.4 million of other restructuring related charges, which were recorded in “Selling, general and administrative” expenses in the Consolidated Statement of Operations and Comprehensive Loss during fiscal 2013. | |||||||||||||
During the first quarter of fiscal 2013, we completed the transition of our Fremont, California operation to our new facility in Stockton, California. We incurred approximately $0.8 million of transition costs related to this move which are recorded in “Selling, general, and administrative” expenses in the Consolidated Statements of Operations and Comprehensive Loss in the first nine months of fiscal 2013. | |||||||||||||
During the third quarter of fiscal 2011, we entered into an amendment to our corporate headquarters lease in Atlanta, Georgia related to the unoccupied 4100 building, which was exited during fiscal 2007. This amendment released us from our obligations with respect to this unoccupied space as of January 31, 2012, in exchange for a $5.0 million space remittance fee, which was paid in the first quarter of fiscal 2012. We also paid $0.9 million in the third quarter of fiscal 2012 and paid an additional $0.3 million in the first quarter of fiscal 2014 related to contractually obligated tenant improvement reimbursement expense. As of January 4, 2014 and December 29, 2012, there was a remaining balance of this accrued facility consolidation reserve of $0.3 million. The provisions relating to the occupied 4300 building remain unchanged. Under the existing provisions, the current term of the lease ends on January 31, 2019. |
Assets_Held_for_Sale_and_Net_G
Assets Held for Sale and Net Gain on Disposition | 12 Months Ended |
Jan. 04, 2014 | |
Assets Held For Sale and Net Gain On Disposition [Abstract] | ' |
Assets Held for Sale and Net Gain on Disposition | ' |
4. Assets Held for Sale and Net Gain on Disposition | |
We have certain assets that we have designated as assets held for sale. At the time of designation, we ceased recognizing depreciation expense on these assets. As of January 4, 2014, and December 29, 2012, total assets held for sale were $2.6 million and $1.6 million, respectively, and were included in “Other current assets” in our Consolidated Balance Sheets. During the second quarter of fiscal 2013, we designated the Denver, Colorado sales center and the Sioux Falls, South Dakota distribution center as held for sale. We finalized the sale of the owned Denver, Colorado sales center, which had a carrying value of $3.3 million, during the third quarter. We finalized the sale of the Sioux Falls facility, which had a carrying value of $0.6 million, during the fourth quarter of fiscal 2013. We also designated one of our distribution centers as held for sale during the second quarter of fiscal 2013. This property has a total carrying value of $1.9 million, and we plan to finalize a sale of the facility within the next 12 months. We continue to actively market all properties that are designated as held for sale. | |
During fiscal 2013 we recognized a gain of $5.0 million on the sale of the Denver, Colorado sales center and the Sioux Falls, South Dakota facility. This gain was net of $0.5 million of capitalized broker commissions related to the Denver, Colorado sales center lease that were written off during the period. This gain was recorded in “Selling, general, and administrative” expenses in the Consolidated Statements of Operations and Comprehensive Loss. We recognized an additional gain related to the sale of our Fremont, California location during fiscal 2013 of approximately $0.2 million. The gain was related to seller’s proceeds that were held by the title company for certain remediation activities that were settled during the first quarter of fiscal 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
5. Income Taxes | |||||||||||||
Our (benefit from) provision for income taxes consists of the following: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Federal income taxes: | |||||||||||||
Current | $ | (492 | ) | $ | 16 | $ | (89 | ) | |||||
Deferred | (7,385 | ) | — | — | |||||||||
State income taxes: | |||||||||||||
Current | 192 | 334 | 759 | ||||||||||
Deferred | (1,343 | ) | — | — | |||||||||
Foreign income taxes: | |||||||||||||
Current | 19 | 56 | 317 | ||||||||||
Deferred | (4 | ) | (20 | ) | (25 | ) | |||||||
(Benefit from) provision for income taxes | $ | (9,013 | ) | $ | 386 | $ | 962 | ||||||
The federal statutory income tax rate was 35%. Our provision for (benefit from) income taxes is reconciled to the federal statutory amount as follows: | |||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Benefit from income taxes computed at the federal statutory tax rate | $ | (17,371 | ) | $ | (7,924 | ) | $ | (13,162 | ) | ||||
Benefit from state income taxes, net of federal benefit | (1,991 | ) | (866 | ) | (1,296 | ) | |||||||
Valuation allowance change | 19,445 | 8,820 | 14,498 | ||||||||||
Nondeductible items | 270 | 484 | 806 | ||||||||||
Benefit from allocation of income taxes to other comprehensive income (loss) | (8,726 | ) | — | — | |||||||||
Other | (640 | ) | (128 | ) | 116 | ||||||||
(Benefit from) provision for income taxes | $ | (9,013 | ) | $ | 386 | $ | 962 | ||||||
Our income before provision for income taxes for our Canadian operations was $0.1 million, $0.1 million and $0.9 million for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. | |||||||||||||
For fiscal 2013, we recognized tax benefit of $9.0 million. The benefit recognized for the year is primarily comprised of $8.7 million of deferred income tax benefit resulting from the allocation of income tax expense to other comprehensive income (loss). In addition, we recognized an income tax benefit related to the reversal of a $0.6 million reserve for an uncertain tax position due to the expiration of the statue of limitations. Finally, we recognized current state income tax expense of $0.3 million related to earnings generated on a separate company basis. | |||||||||||||
For fiscal 2012, we recognized tax expense of $0.4 million. The expense recognized for the year is primarily comprised of $0.3 million for current state income tax expense related to earnings generated on a separate company basis. | |||||||||||||
For fiscal 2011, we recognized tax expense of $1.0 million. The expense recognized for the year is primarily comprised of $0.8 million for current state income tax expense related to earnings generated on a separate company basis and $0.3 million of current income tax expense resulting from foreign income taxes. | |||||||||||||
In accordance with the intraperiod tax allocation provisions of U.S. GAAP, we are required to consider all items (including items recorded in other comprehensive income) in determining the amount of tax benefit that results from a loss from continuing operations that should be allocated to continuing operations. In fiscal 2013, a non-cash tax benefit on the loss from continuing operations of $8.7 million, which was offset in full by income tax expense, was recorded in other comprehensive income. In fiscal 2012 and fiscal 2011, there was no intraperiod tax allocation due to the fact that there was a loss in other comprehensive income for the period. While the income tax benefit from continuing operations is reported in our Consolidated Statements of Operations and Comprehensive Loss, the income tax expense on other comprehensive income is recorded directly to accumulated other comprehensive loss, which is a component of stockholders’ equity. | |||||||||||||
Our financial statements contain certain deferred tax assets which have arisen primarily as a result of tax benefits associated with the loss before income taxes incurred, as well as net deferred income tax assets resulting from other temporary differences related to certain reserves, pension obligations and differences between book and tax depreciation and amortization. We record a valuation allowance against our net deferred tax assets when we determine that based on the weight of available evidence, it is more likely than not that our net deferred tax assets will not be realized. | |||||||||||||
In our evaluation of the weight of available evidence, we considered recent reported losses as negative evidence which carried substantial weight. Therefore, we considered evidence related to the four sources of taxable income, to determine whether such positive evidence outweighed the negative evidence associated with the losses incurred. The positive evidence considered included: | |||||||||||||
● | taxable income in prior carryback years, if carryback is permitted under the tax law; | ||||||||||||
● | future reversals of existing taxable temporary differences; | ||||||||||||
● | tax planning strategies; and | ||||||||||||
● | future taxable income exclusive of reversing temporary differences and carryforwards. | ||||||||||||
During fiscal 2013 and 2012, we weighed all available positive and negative evidence and concluded the weight of the negative evidence of a three year cumulative loss continued to outweigh the positive evidence. Based on the conclusions reached, we maintained a full valuation allowance during 2013 and 2012. | |||||||||||||
The components of our net deferred income tax assets (liabilities) are as follows: | |||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred income tax assets: | |||||||||||||
Inventory reserves | $ | 2,832 | $ | 2,816 | |||||||||
Compensation-related accruals | 4,893 | 5,838 | |||||||||||
Accruals and reserves | 1,030 | 92 | |||||||||||
Accounts receivable | 1,291 | 1,327 | |||||||||||
Restructuring costs | 488 | 118 | |||||||||||
Pension | 8,245 | 16,936 | |||||||||||
Benefit from NOL carryovers(1) | 70,169 | 52,088 | |||||||||||
Other | 703 | 695 | |||||||||||
Total gross deferred income tax assets | 89,651 | 79,910 | |||||||||||
Less: Valuation allowances | (88,279 | ) | (78,050 | ) | |||||||||
Total net deferred income tax assets | $ | 1,372 | $ | 1,860 | |||||||||
Deferred income tax liabilities: | |||||||||||||
Intangible assets | — | (60 | ) | ||||||||||
Property and equipment | (365 | ) | (1,065 | ) | |||||||||
Other | (1,006 | ) | (739 | ) | |||||||||
Total deferred income tax liabilities | (1,371 | ) | (1,864 | ) | |||||||||
Deferred income tax assets (liabilities), net | $ | 1 | $ | (4 | ) | ||||||||
-1 | Our federal NOL carryovers are $168.1 million and will expire in 15 to 20 years. Our state NOL carryovers are $232.2 million and will expire in 1 to 20 years. | ||||||||||||
Activity in our deferred tax asset valuation allowance for fiscal 2013 and fiscal 2012 was as follows (in thousands): | |||||||||||||
Fiscal Year | Fiscal Year | ||||||||||||
Ended | Ended | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
Balance at beginning of the year | $ | 78,050 | $ | 66,793 | |||||||||
Valuation allowance removed for taxes related to: | |||||||||||||
Income before income taxes | — | — | |||||||||||
Valuation allowance provided for taxes related to: | |||||||||||||
Loss before income taxes | 10,229 | 11,257 | |||||||||||
Effect of a change in judgment | — | — | |||||||||||
Balance at end of the year | $ | 88,279 | $ | 78,050 | |||||||||
We have recorded income tax and related interest liabilities where we believe certain of our tax positions are not more likely than not to be sustained if challenged. The following table summarizes the activity related to our unrecognized tax benefits: | |||||||||||||
(In thousands) | |||||||||||||
Balance at January 1, 2011 | $ | 677 | |||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | 196 | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Settlements | — | ||||||||||||
Balance at December 31, 2011 | 873 | ||||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | — | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Reductions due to lapse of applicable statue of limitations | (47 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance at December 29, 2012 | 826 | ||||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | — | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Reductions due to lapse of applicable statute of limitations | (567 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance at January 4, 2014 | $ | 259 | |||||||||||
Included in the unrecognized tax benefits at January 4, 2014 and December 29, 2012 were $0.3 million and $0.8 million, respectively, of tax benefits that, if recognized, would reduce our annual effective tax rate. We also accrued an immaterial amount of interest related to these unrecognized tax benefits during 2013 and 2012, and this amount is reported in “Interest expense” in our Consolidated Statements of Operations and Comprehensive Loss. We do not expect our unrecognized tax benefits to change materially over the next 12 months. | |||||||||||||
We file U.S., state, and foreign income tax returns in jurisdictions with varying statutes of limitations. The 2010 through 2013 tax years generally remain subject to examination by federal and most state and foreign tax authorities. |
Receivables
Receivables | 12 Months Ended | ||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Receivables | ' | ||||||||||||||||
6. Receivables | |||||||||||||||||
We have a diversified customer base concentrated in the building products business. Credit risk is monitored and provisions for expected losses are provided as determined necessary by management. We generally do not require collateral. | |||||||||||||||||
The following reflects our activity in receivables related reserve accounts: | |||||||||||||||||
Beginning | Expense/ | Write offs and | Ending | ||||||||||||||
Balance | (Income) | Other, Net | Balance | ||||||||||||||
(In thousands) | |||||||||||||||||
Fiscal 2011 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 5,715 | $ | 2,576 | $ | (3,156 | ) | $ | 5,135 | ||||||||
Fiscal 2012 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 5,135 | $ | 2,034 | $ | (2,449 | ) | $ | 4,720 | ||||||||
Fiscal 2013 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 4,720 | $ | 1,581 | $ | (1,942 | ) | $ | 4,359 |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||||||||||||||
Jan. 04, 2014 | ||||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||||||||||||
7. Stock-Based Compensation | ||||||||||||||||||||||||||
We have two stock-based compensation plans covering officers, directors and certain employees and consultants: the 2004 Equity Incentive Plan (the “2004 Plan”) and the 2006 Long Term Equity Incentive Plan (the “2006 Plan”). The plans are designed to motivate and retain individuals who are responsible for the attainment of our primary long-term performance goals. The plans provide a means whereby our employees and directors develop a sense of proprietorship and personal involvement in our development and financial success and encourage them to devote their best efforts to our business. Although we do not have a formal policy on the matter, we issue new shares of our common stock to participants, upon the exercise of options, upon the granting of restricted stock or upon the vesting of performance shares, out of the total amount of common shares authorized for issuance under the 2004 Plan or the 2006 Plan. | ||||||||||||||||||||||||||
The 2004 Plan provides for the grant of nonqualified stock options, incentive stock options and restricted shares of our common stock to participants of the plan selected by our Board of Directors or a committee of the Board that administers the 2004 Plan. We reserved 2,222,222 shares of our common stock for issuance under the 2004 Plan. The terms and conditions of awards under the 2004 Plan are determined by the administrator for each grant. | ||||||||||||||||||||||||||
The 2006 Plan permits the grant of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, cash-based awards, and other stock-based awards to participants of the 2006 Plan selected by our Board of Directors or a committee of the Board that administers the 2006 Plan. We reserved 12,200,000 shares of our common stock for issuance under the 2006 Plan. The terms and conditions of awards under the 2006 Plan are determined by the administrator for each grant. Awards issued under the 2006 Plan are subject to accelerated vesting in the event of a change in control as such event is defined in the 2006 Plan. | ||||||||||||||||||||||||||
During fiscal 2013, the Compensation Committee granted 1,202,185 restricted shares of our common stock to certain of our officers and directors. Due to the change in executive leadership, 1,081,071 restricted shares vested. In addition, 378,629 restricted shares of certain other executives vested as a result of the 2013 restructuring. Restricted shares of 2,587,452 vested in fiscal 2013 due to the completion of the vesting term and the modification related to the change in executive leadership and the 2013 restructuring. In addition, in fiscal 2013 the Compensation Committee granted certain of our executive officers and directors awards of performance shares of our common stock. These performance share awards, which totaled 2,969,424, and vest in three equal tranches, are contingent upon the successful achievement of certain financial and strategic goals approved by the Compensation Committee. In conjunction with the change in executive leadership and the 2013 restructuring, performance shares of 627,320 vested due to the removal of vesting and performance criteria. There were no stock options granted during fiscal 2013, 2012 or fiscal 2011. | ||||||||||||||||||||||||||
We recognize compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. This expense is recorded on a straight-line basis over the requisite service period of the entire award, unless the awards are subject to market or performance conditions, in which case we recognize compensation expense over the requisite service period of each separate vesting tranche to the extent the occurrence of such conditions are probable. All compensation expense related to our share-based payment awards is recorded in “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. | ||||||||||||||||||||||||||
As of January 4, 2014, there was $1.4 million and $4.4 million of total unrecognized compensation expense related to restricted stock and performance shares, respectively. The unrecognized compensation expense is expected to be recognized over weighted average term of 1.4 years and 1.5 years for restricted stock and performance shares, respectively. As of December 29, 2012, there was $2.5 million of total unrecognized compensation expense related to restricted stock. There was no future compensation expense remaining for options as of January 4, 2014 and December 29, 2012. As of January 4, 2014, the weighted average remaining contractual term for our options, restricted stock, and performance shares was 4.1 years, 1.2 years and 1.2 years, respectively. As of December 29, 2012, the weighted average remaining contractual term for our options and restricted stock was 4.9 years and 1.4 years, respectively. The maximum contractual term for stock options, restricted stock, and performance shares is 10 years, 1 to 3 years, and 1 to 3 years, respectively. | ||||||||||||||||||||||||||
For fiscal 2013, fiscal 2012 and fiscal 2011, our total stock-based compensation expense was $6.1 million, $2.8 million, and $2.0 million, respectively. We also recognized related income tax benefits of $2.4 million, $1.1 million and $0.8 million, respectively which has been offset by a valuation allowance. Approximately $2.9 million of total stock-based compensation during fiscal 2013 is related to the 2013 restructuring and the change in executive leadership. | ||||||||||||||||||||||||||
The total fair value of the options vested in fiscal 2011 was $0.7 million. There were no options vested in fiscal 2012 and fiscal 2013. For restricted stock, the total fair value vested in 2013, fiscal 2012 and fiscal 2011 was $6.4 million, $2.3 million and $2.2 million, respectively. For performance shares, the total fair value vested in 2013 was $1.5 million. | ||||||||||||||||||||||||||
There were no stock option exercises during fiscal 2013, fiscal 2012 or fiscal 2011. We present the benefits of tax deductions in excess of recognized compensation expense as both a financing cash inflow and an operating cash outflow in our Consolidated Statements of Cash Flows when present. There were $16 thousand excess tax benefits in fiscal 2013. There were no excess tax benefits in fiscal 2012 and fiscal 2011. | ||||||||||||||||||||||||||
On December 30, 2013, the Compensation Committee approved an amendment to the 2013 Performance Share Award Agreement under the 2006 Plan (the “2013 Amendment”). The 2013 Amendment provides that the first tranche of the performance shares granted during fiscal 2013 will vest in fiscal 2014, despite the original performance criteria not being achieved. The 2013 Amendment was determined to be a modification of the award and an adjustment related to the difference in fair value was recorded in fiscal 2013. The related awards will vest in fiscal 2014. | ||||||||||||||||||||||||||
On December 14, 2010, the Compensation Committee approved an amendment to the 2008 Performance Share Award Agreement under the 2006 Plan (the “2010 Amendment”). The 2010 Amendment provides that the Company may, at the discretion of the Compensation Committee, settle grants pursuant to Performance Share Award Agreements either in (i) one share of common stock of the Company for each Performance Share (as defined in the 2006 Plan) earned or (ii) a lump sum cash payment equal to the Fair Market Value (as defined in the 2006 Plan) of one share of common stock of the Company for each Performance Share earned. The 2010 Amendment was determined to be a modification of the award and an adjustment related to the difference in fair value was recorded in fiscal 2010. The award, which impacts eight employees, was classified as a liability award and was marked to market. On January 1, 2011, the fair value of these awards was based on the closing price of our common stock on December 31, 2010 of $3.66. These awards were settled in cash on January 7, 2011. Our restricted stock units were also settled in cash upon vesting and were considered liability awards. Therefore, these are not included in the computation of the basic and diluted earnings per share. | ||||||||||||||||||||||||||
The tables below summarize activity and include certain additional information related to our outstanding employee stock options for the three years ended January 4, 2014. There have been no new employee stock option grants for the three years ended January 4, 2014. | ||||||||||||||||||||||||||
Shares | Weighted | |||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||
Exercise | ||||||||||||||||||||||||||
Price | ||||||||||||||||||||||||||
Options outstanding at January 1, 2011 | 924,815 | $ | 6.31 | |||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | (19,499 | ) | 12.53 | |||||||||||||||||||||||
Options outstanding at December 31, 2011 | 905,316 | 6.18 | ||||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | — | — | ||||||||||||||||||||||||
Options outstanding at December 29, 2012 | 905,316 | 6.18 | ||||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | (120,816 | ) | 13.58 | |||||||||||||||||||||||
Options outstanding at January 4, 2014 | 784,500 | 5.05 | ||||||||||||||||||||||||
Options exercisable at January 4, 2014 | 784,500 | $ | 5.05 | |||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||
Weighted | Weighted | |||||||||||||||||||||||||
Price Range | Average | Remaining | Average | Remaining | ||||||||||||||||||||||
Number of | Exercise | Contractual Life | Number of | Exercise | Contractual Life | |||||||||||||||||||||
Options | Price | (in Years) | Options | Price | (in Years) | |||||||||||||||||||||
$4.66 | 750,000 | $ | 4.66 | 4.2 | 750,000 | $ | 4.66 | 4.2 | ||||||||||||||||||
$11.40-$14.01 | 34,500 | $ | 13.25 | 2.3 | 34,500 | $ | 13.25 | 2.3 | ||||||||||||||||||
784,500 | 4.1 | 784,500 | 4.1 | |||||||||||||||||||||||
The following tables summarize activity for our performance shares, restricted stock awards and restricted stock unit awards during fiscal 2013, fiscal 2012 and fiscal 2011: | ||||||||||||||||||||||||||
Restricted Stock | Performance | Restricted | ||||||||||||||||||||||||
Shares | Stock Units | |||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||
Number of | Average Fair | Number of | Number of | |||||||||||||||||||||||
Awards | Value | Awards | Awards (1) | |||||||||||||||||||||||
Outstanding at January 1, 2011(2) | 1,914,288 | 2.67 | 240,835 | 127,950 | ||||||||||||||||||||||
Granted | 819,240 | 3.14 | — | — | ||||||||||||||||||||||
Vested(2) | (364,303 | ) | 6.16 | (240,835 | ) | (63,200 | ) | |||||||||||||||||||
Forfeited | (7,801 | ) | 3.26 | — | (15,400 | ) | ||||||||||||||||||||
Outstanding at December 31, 2011 | 2,361,424 | 3.22 | — | 49,350 | ||||||||||||||||||||||
Granted | 2,067,835 | 1.52 | — | — | ||||||||||||||||||||||
Vested | (681,484 | ) | 3.39 | — | (48,250 | ) | ||||||||||||||||||||
Forfeited | (193,037 | ) | 2.76 | — | (1,100 | ) | ||||||||||||||||||||
Outstanding at December 29, 2012 | 3,554,738 | 1.22 | — | — | ||||||||||||||||||||||
Granted(3) | 1,202,185 | 3.15 | 2,969,424 | — | ||||||||||||||||||||||
Vested(3) | (2,587,452 | ) | 2.48 | (627,320 | ) | — | ||||||||||||||||||||
Forfeited(3) | (551,188 | ) | 2.28 | (149,236 | ) | — | ||||||||||||||||||||
Outstanding at January 4, 2014(3) | 1,618,283 | $ | 2.50 | 2,192,868 | — | |||||||||||||||||||||
-1 | The restricted stock units were settled in cash. The fair value of these awards was marked-to-market each reporting period through the date of settlement. During fiscal 2012 and fiscal 2011, certain restricted stock units vested and approximately $0.1 million and $0.2 million, respectively, was paid out to settle these awards. | |||||||||||||||||||||||||
-2 | During fiscal 2011 certain performance shares vested and approximately $0.9 million was paid out to settle these awards. The fair value of these shares was marked to market each reporting period through the settlement date. | |||||||||||||||||||||||||
-3 | The performance shares granted in 2013 will be settled in shares of common stock of the Company. The weighted average fair value for performance shares granted, vested, and forfeited was $2.95, $2.36, and $3.13, respectively. The weighted average fair value for performance shares outstanding as of January 4, 2014 is $2.55. |
Employee_Benefits
Employee Benefits | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Employee Benefits [Abstract] | ' | ||||||||||||
Employee Benefits | ' | ||||||||||||
8. Employee Benefits | |||||||||||||
Defined Benefit Pension Plans | |||||||||||||
Most of our hourly employees participate in noncontributory defined benefit pension plans, which include a plan that is administered solely by us (the “hourly pension plan”) and union-administered multiemployer plans. Our funding policy for the hourly pension plan is based on actuarial calculations and the applicable requirements of federal law. We believe that each multiemployer pension plan is immaterial to our financial statements and that we represent an immaterial portion of the total contributions and future obligations of these plans. Contributions to multiemployer plans are generally based on negotiated labor contracts. We contributed $1.3 million, $1.3 million, and $1.2 million to union administered multiemployer pension plans for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. Benefits under the majority of plans for hourly employees (including multiemployer plans) are primarily related to years of service. | |||||||||||||
The following tables set forth the change in projected benefit obligation and the change in plan assets for the hourly pension plan: | |||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Change in projected benefit obligation: | |||||||||||||
Projected benefit obligation at beginning of period | $ | 114,330 | $ | 99,425 | |||||||||
Service cost | 2,193 | 1,878 | |||||||||||
Interest cost | 4,750 | 4,885 | |||||||||||
Actuarial (gain) loss | (10,710 | ) | 12,183 | ||||||||||
Curtailment | (910 | ) | — | ||||||||||
Benefits paid | (4,729 | ) | (4,041 | ) | |||||||||
Projected benefit obligation at end of period | 104,924 | 114,330 | |||||||||||
Change in plan assets: | |||||||||||||
Fair value of assets at beginning of period | 67,760 | 63,896 | |||||||||||
Actual return on plan assets | 13,536 | 6,758 | |||||||||||
Employer contributions | 472 | 1,147 | |||||||||||
Benefits paid | (4,729 | ) | (4,041 | ) | |||||||||
Fair value of assets at end of period | 77,039 | 67,760 | |||||||||||
Net (unfunded) status of plan | $ | (27,885 | ) | $ | (46,570 | ) | |||||||
We recognize the unfunded status (i.e., the difference between the fair value of plan assets and the projected benefit obligations) of our pension plan in our Consolidated Balance Sheets, with a corresponding adjustment to accumulated other comprehensive loss, net of tax. During fiscal 2012 and fiscal 2011 this amount was offset by a valuation allowance. On January 4, 2014, we measured the fair value of our plan assets and benefit obligations. As of January 4, 2014, and December 29, 2012, the net unfunded status of our benefit plan was $27.9 million and $46.6 million, respectively. These amounts were included in “Other non-current liabilities” on our Consolidated Balance Sheets. The net adjustment to other comprehensive loss for fiscal 2013, fiscal 2012, and fiscal 2011 was a $13.9 million gain ($22.8 million gain, net of tax of $8.9 million), $8.2 million loss ($8.2 million loss, net of tax, offset by a valuation allowance), $15.0 million loss ($15.0 million loss, net of tax, offset by a valuation allowance), respectively, which represents the net unrecognized actuarial gain (loss) and unrecognized prior service cost. | |||||||||||||
The decrease in the unfunded obligation for the period was approximately $18.7 million and was comprised of $10.7 million of actuarial gains, $13.5 million of asset returns, a decrease of $0.9 million to the liability related to freezing our non-union pension plan and $0.5 million of pension contributions. These changes were offset by an increase in the projected benefit obligation of $6.9 million due to current year service and interest cost. The main driver of the decrease in the liability related to the actuarial (gain) loss was the change in the underlying discount rate assumption which increased from 4.24% in fiscal 2012 to 5.00% in fiscal 2013. The net periodic pension costs also increased to $4.6 million in fiscal 2013 from $3.9 million in fiscal 2012 and was primarily driven by an increase in the amortization of the actuarial loss attributable to the decrease in the discount rate from 5.02% in fiscal 2011 to 4.24% in 2012. | |||||||||||||
The freeze of the non-union pension plan resulted in a reduction in future years of service for the active participants in the plan, which triggered a curtailment. An immaterial amount of unrecognized prior service costs were recognized in the Consolidated Statements of Operations and Comprehensive Loss during fiscal 2013 as a result of this event. In addition, there was a curtailment gain from the event which resulted in a decrease to the projected benefit obligation of $0.9 million. | |||||||||||||
The unfunded status and the amounts recognized on our Consolidated Balance Sheets for the hourly pension plan are set forth in the following table: | |||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Unfunded status | $ | (27,885 | ) | $ | (46,570 | ) | |||||||
Unrecognized prior service cost | 1 | 2 | |||||||||||
Unrecognized actuarial loss | 14,656 | 37,459 | |||||||||||
Net amount recognized | $ | (13,228 | ) | $ | (9,109 | ) | |||||||
Amounts recognized on the balance sheet consist of: | |||||||||||||
Accrued pension liability | (27,885 | ) | (46,570 | ) | |||||||||
Accumulated other comprehensive loss (pre-tax) | 14,657 | 37,461 | |||||||||||
Net amount recognized | $ | (13,228 | ) | $ | (9,109 | ) | |||||||
The portion of estimated net loss for the hourly pension plan that is expected to be amortized from accumulated other comprehensive loss into net periodic cost over the next fiscal year is $0.8 million. The expected amortization of prior service cost recognized into net periodic cost over the next fiscal year is immaterial. | |||||||||||||
The accumulated benefit obligation for the hourly pension plan was $103.7 million and $111.1 million at January 4, 2014, and December 29, 2012, respectively. | |||||||||||||
Net periodic pension cost for our pension plans included the following: | |||||||||||||
Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Service cost | $ | 2,193 | $ | 1,878 | $ | 2,091 | |||||||
Interest cost on projected benefit obligation | 4,750 | 4,885 | 4,609 | ||||||||||
Expected return on plan assets | (5,225 | ) | (4,897 | ) | (5,505 | ) | |||||||
Amortization of unrecognized loss | 2,873 | 2,077 | 579 | ||||||||||
Amortization of unrecognized prior service cost | — | — | — | ||||||||||
Net periodic pension cost | $ | 4,591 | $ | 3,943 | $ | 1,774 | |||||||
The following assumptions were used to determine the projected benefit obligation at the measurement date and the net periodic pension cost: | |||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
Projected benefit obligation: | |||||||||||||
Discount rate | 5 | % | 4.24 | % | |||||||||
Average rate of increase in future compensation levels | Graded 5.5%-2.5 | % | 3 | % | |||||||||
Net periodic pension cost | |||||||||||||
Discount rate | 4.24 | % | 5.02 | % | |||||||||
Average rate of increase in future compensation levels | 3 | % | 3 | % | |||||||||
Expected long-term rate of return on plan assets | 7.85 | % | 7.85 | % | |||||||||
Our estimates of the amount and timing of our future funding obligations for our defined benefit pension plans are based upon various assumptions specified above. These assumptions include, but are not limited to, the discount rate, projected return on plan assets, compensation increase rates, mortality rates, retirement patterns, and turnover rates. | |||||||||||||
As indicated in the table above, we used a discount rate of 5.00% to compute the projected benefit obligation, which was determined by the matching of plan liability cash flows to a portfolio of bonds. A change in the discount rate of 25 basis points, from 5.00% to 5.25%, while holding all other assumptions constant, would have resulted in a reduction in the Company’s projected benefit obligation of approximately $3.1 million in 2013. | |||||||||||||
As indicated in the table above, we used an estimated rate of future compensation increases of graded 5.5% - 2.5% to compute the projected benefit obligation. A change in the rate of 25 basis points, from graded 5.5% - 2.5% to graded 5.75% - 2.75%, while holding all other assumptions constant, would have resulted in an increase in the Company’s projected benefit obligation of less than $0.1 million in 2013. | |||||||||||||
Determination of expected long-term rate of return | |||||||||||||
In developing expected return assumptions for our pension plan, the most influential decision affecting long-term portfolio performance is the determination of overall asset allocation. An asset class is a group of securities that exhibit similar characteristics and behave similarly in the marketplace. The three main asset classes are equities, fixed income, and cash equivalents. | |||||||||||||
Upon calculation of the historical risk premium for each asset class, an expected rate of return can be established based on assumed 90-day Treasury bill rates. Based on the normal asset allocation structure of the portfolio (65% equities, 30% fixed income, and 5% other) with historical compound annualized risk free rate of 3.78%, the expected overall portfolio return is 8.35% offset by 0.5% expense estimate resulting in a 7.85% net long term rate of return as of January 4, 2014. | |||||||||||||
Our percentage of fair value of total assets by asset category as of our measurement date is as follows: | |||||||||||||
Asset Category | January 4, | December 29, | |||||||||||
2014 | 2012 | ||||||||||||
Equity securities — domestic | 55 | % | 56 | % | |||||||||
Equity securities — international | 16 | % | 9 | % | |||||||||
Fixed income | 24 | % | 31 | % | |||||||||
Other | 5 | % | 4 | % | |||||||||
Total | 100 | % | 100 | % | |||||||||
The fair value of our plan assets by asset category as of January 4, 2014 was as follows (in thousands): | |||||||||||||
Asset Category | Level 1 | ||||||||||||
Equity securities — domestic | $ | 42,710 | |||||||||||
Equity securities — international | 12,067 | ||||||||||||
Fixed income | 18,836 | ||||||||||||
Other | 3,426 | ||||||||||||
Total | $ | 77,039 | |||||||||||
The fair value of our plan assets by asset category as of December 29, 2012 was as follows (in thousands): | |||||||||||||
Asset Category | Level 1 | ||||||||||||
Equity securities — domestic | $ | 37,623 | |||||||||||
Equity securities — international | 6,304 | ||||||||||||
Fixed income | 20,848 | ||||||||||||
Other | 2,985 | ||||||||||||
Total | $ | 67,760 | |||||||||||
The plan assets are valued using quoted market prices in active markets and we consider the investments to be Level 1 in the fair value hierarchy. See Note 13 for a discussion of the levels of inputs to determine fair value. | |||||||||||||
Investment policy and strategy | |||||||||||||
Plan assets are managed as a balanced portfolio comprised of two major components: an equity portion and a fixed income portion. The expected role of plan equity investments will be to maximize the long-term real growth of fund assets, while the role of fixed income investments will be to generate current income, provide for more stable periodic returns, and provide some downside protection against the possibility of a prolonged decline in the market value of equity investments. We review this investment policy statement at least once per year. In addition, the portfolio will be reviewed quarterly to determine the deviation from target weightings and will be rebalanced as necessary. Target allocations for fiscal 2014 are 50% domestic and 15% international equity investments, 30% fixed income investments, and 5% cash. The expected long-term rate of return for the plan’s total assets is based on the expected return of each of the above categories, weighted based on the target allocation for each class. | |||||||||||||
Our estimated future benefit payments reflecting expected future service are as follows (in thousands): | |||||||||||||
Fiscal Year Ending | (In thousands) | ||||||||||||
3-Jan-15 | 4,998 | ||||||||||||
January 2, 2016 | 5,332 | ||||||||||||
December 31, 2016 | 5,641 | ||||||||||||
December 30, 2017 | 5,914 | ||||||||||||
December 29, 2018 | 6,206 | ||||||||||||
Thereafter | 34,372 | ||||||||||||
The Company’s minimum required contribution for plan year 2012 was $3.2 million. In an effort to preserve additional cash for operations, we applied for a waiver from the Internal Revenue Service (“IRS”) for our 2012 minimum required contribution. Although the Company’s outside counsel has been notified by the IRS that its waiver request has been preliminarily approved and that the IRS is in the process of finalizing the waiver request, no assurances can be provided that the waiver request will be granted until the Company receives final approval from the IRS. If we are granted the requested waiver, our contributions for 2012 will be amortized over the following five years, increasing our future minimum required contributions. | |||||||||||||
The Company’s minimum required contribution for plan year 2013 was estimated to be $6.0 million, assuming we receive the requested waiver. During the second quarter of fiscal 2013, we contributed certain qualifying employer real property to the hourly pension plan. The properties, including certain land and buildings, are located in Charleston, S.C. and Buffalo, N.Y., and were valued at approximately $6.8 million by independent appraisals prior to the contribution. The contribution was recorded by the hourly pension plan at the fair market value of $6.8 million. We are leasing back the contributed properties for an initial term of twenty years with two five-year extension options and continue to use the properties in our distribution operations. Each lease provides us a right of first refusal on any subsequent sale by the hourly pension plan and a repurchase option. The hourly pension plan engaged an independent fiduciary who evaluated the transaction on behalf of the hourly pension plan, negotiated the terms of the property contribution and the leases, and also manages the properties on behalf of the hourly pension plan. Depending on whether the 2012 waiver is granted, portions of the property contribution may be designated to either the 2012 or 2013 plan year. If the waiver is not granted, it may be necessary to contribute an additional $2.2 million on or before September 15, 2014 to fully satisfy the 2012 and 2013 minimum required contributions. | |||||||||||||
We determined that the contribution of the properties does not meet the accounting definition of a plan asset within the scope of relevant accounting guidance. Accordingly, the contributed properties are not considered a contribution for financial reporting purposes and, as a result, are not included in plan assets and have no impact on the net pension liability recorded on our Consolidated Balance Sheets. We continue to depreciate the carrying value of the properties in our financial statements, and no gain or loss was recognized at the contribution date for financial reporting purposes. Rent payments will be made on a monthly basis and will be recorded as contributions to the hourly pension plan, of which $0.5 million has been recorded as of January 4, 2014. These rental payments will reduce our unfunded obligation to the hourly pension plan. | |||||||||||||
We currently are required to make three quarterly cash contributions during fiscal 2014 of $1.5 million each related to our 2014 minimum required contribution. | |||||||||||||
Defined Contribution Plans | |||||||||||||
Our employees also participate in several defined contribution plans. Contributions to the plans are based on employee contributions and compensation. Contributions to the hourly defined contribution plan totaled $0.1 million, $0.1 million, and $0.1 million for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. During fiscal 2009, we suspended the Company matching contributions to our defined salaried contribution plan as part of our cost reduction initiatives. The Company match was reinstated on January 1, 2012. Contributions to the salaried defined contribution plan totaled $1.1 million and $1.0 million for fiscal 2013 and fiscal 2012, respectively. |
Inventory_Reserve_Accounts
Inventory Reserve Accounts | 12 Months Ended | ||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||
Inventory Reserve Accounts [Abstract] | ' | ||||||||||||||||
Inventory Reserve Accounts | ' | ||||||||||||||||
9. Inventory Reserve Accounts | |||||||||||||||||
The following reflects our activity for inventory reserve accounts (in thousands): | |||||||||||||||||
Beginning | Expense | Write-offs and | Ending | ||||||||||||||
Balance | Other, net | Balance | |||||||||||||||
Fiscal 2011 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,670 | $ | 2,309 | $ | (2,487 | ) | $ | 1,492 | ||||||||
Lower of cost or market reserve | $ | — | $ | — | $ | — | $ | — | |||||||||
Fiscal 2012 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,492 | $ | 3,625 | $ | (3,991 | ) | $ | 1,126 | ||||||||
Lower of cost or market reserve | $ | — | $ | — | $ | — | $ | — | |||||||||
Fiscal 2013 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,126 | $ | 4,783 | $ | (4,111 | ) | $ | 1,798 | ||||||||
Lower of cost or market reserve | $ | — | $ | 3,843 | $ | (3,843 | ) | $ | — |
Revolving_Credit_Facilities
Revolving Credit Facilities | 12 Months Ended |
Jan. 04, 2014 | |
Revolving Credit Facilities [Abstract] | ' |
Revolving Credit Facilities | ' |
10. Revolving Credit Facilities | |
We have our U.S. revolving credit facility agreement (the “U.S. revolving credit facility”) with Wells Fargo Bank, National Association, successor by merger to Wachovia Bank, National Association, dated August 4, 2006, as amended. The U.S. revolving credit facility has a final maturity of April 15, 2016 and maximum available credit of $447.5 million. The U.S. revolving credit facility also includes an additional $75 million uncommitted accordion credit facility, which permits us to increase the maximum available credit up to $522.5 million. | |
On June 28, 2013, we entered into an amendment to our U.S. revolving credit facility, which became effective on that date and pursuant to which certain components of the borrowing base calculation and excess liquidity calculation were adjusted. The most significant of the changes included in the amendment is the addition of PNC Bank, National Association (“PNC”) as a lender and their additional loan commitment of $25.0 million, which increased the maximum availability of the U.S. revolving credit facility to $447.5 million. The new terms of this amended agreement are described in this footnote. In conjunction with this amendment, we incurred $0.1 million of debt fees that were capitalized and are being amortized over the amended debt term. | |
On March 29, 2013, we entered into an amendment to our U.S. revolving credit facility, which became effective on that date and pursuant to which certain components of the borrowing base calculation and excess liquidity calculation were adjusted. The most significant of the changes included in the amendment are extending the final maturity of the U.S. revolving credit facility, increasing the maximum available credit under the facility and adjusting the excess availability threshold calculation. In conjunction with this amendment, we incurred $2.8 million of debt fees that were capitalized and are being amortized over the amended debt term. | |
On March 27, 2013, we concluded the 2013 Rights Offering. The 2013 Rights Offering was fully subscribed and resulted in net proceeds of approximately $38.6 million. Remaining expenses to be paid related to the 2013 Rights Offering as of January 4, 2014 totaled $0.1 million. We issued 22.9 million shares of stock to our stockholders in conjunction with the 2013 Rights Offering. | |
On July 22, 2011, we concluded an offering of our common stock to our stockholders (the “2011 Rights Offering”). The 2011 Rights Offering was fully subscribed and resulted in net proceeds of approximately $58.0 million. We issued 28.6 million shares of stock to our stockholders in conjunction with the 2011 Rights Offering. | |
As of January 4, 2014, we had outstanding borrowings of $207.9 million and excess availability of $44.5 million under the terms of our U.S. revolving credit facility. The interest rate on the U.S. revolving credit facility was 3.7% at January 4, 2014. As of December 29, 2012, we had outstanding borrowings of $169.5 million and excess availability of $86.0 million under the terms of our U.S. revolving credit facility. The interest rate on the U.S. revolving credit facility was 4.1% at December 29, 2012. As of January 4, 2014 and December 29, 2012, we had outstanding letters of credit totaling $3.6 million and $4.5 million, respectively, for the purposes of securing collateral requirements under casualty insurance programs and for guaranteeing lease and certain other obligations. The $3.6 million in outstanding letters of credit as of January 4, 2014 does not include an additional $1.5 million fully collateralized letter of credit securing certain insurance obligations that was issued outside of the U.S. revolving credit facility. | |
As of January 4, 2014, our U.S. revolving credit facility, as amended, contains customary negative covenants and restrictions for asset based loans, including a requirement that we maintain a fixed charge coverage ratio of 1.1 to 1.0 in the event our excess availability falls below the greater of $31.8 million or the amount equal to 12.5% of the lesser of the borrowing base or $447.5 million (the “Excess Availability Threshold”). The fixed charge coverage ratio is calculated as EBITDA divided by the sum of cash payments for income taxes, interest expense, cash dividends, principal payments on debt, and capital expenditures. EBITDA is defined as BlueLinx Corporation’s net income before interest and tax expense, depreciation and amortization expense, and other non-cash charges. The fixed charge coverage ratio requirement only applies to us when excess availability under our amended U.S. revolving credit facility is less than the Excess Availability Threshold on any date. As of January 4, 2014 and through the time of the filing of this Form 10-K, we were in compliance with all covenants under the U.S. revolving credit facility. We are required to maintain the Excess Availability Threshold in order to avoid being required to meet certain financial ratios and triggering additional limits on capital expenditures. Our lowest level of fiscal month-end availability in the last three years as of January 4, 2014 was $44.5 million, which is the excess availability as of that date. We do not anticipate our excess availability in fiscal 2014 will drop below the Excess Availability Threshold. Should our excess availability fall below the Excess Availability Threshold on any date, however, we would not meet the required fixed charge coverage ratio covenant with our current operating results. | |
In the event that excess availability falls below $37.1 million or the amount equal to 15% of the lesser of the borrowing base or $447.5 million, the U.S. revolving credit facility gives the lenders the right to dominion of our bank accounts. This would not make the underlying debt callable by the lender and may not change our ability to borrow on the U.S. revolving credit facility. However, we would be required to reclassify the “Long-term debt” to “Current maturities of long-term debt” on our Consolidated Balance Sheet. In addition, we would be required to maintain a springing lock-box arrangement where customer remittances go directly to a lock-box maintained by our lenders and then are forwarded to our general bank accounts. Our outstanding borrowings are not reduced by these payments unless our excess availability falls below the greater of $35 million or the amount equal to 15% of the lesser of the borrowing base or $400 million on any date or in the event of default. Our amended U.S. revolving credit facility does not contain a subjective acceleration clause, which would allow our lenders to accelerate the scheduled maturities of our debt or to cancel our agreement. | |
On August 16, 2013, we entered into an amendment to our Canadian revolving credit facility (the “Canadian revolving credit facility”), which became effective on that date. The Amendment modifies the maturity date under the Credit Agreement to the earlier of (i) August 12, 2016 or the (ii) maturity date of the U.S. revolving credit facility. All other terms of the Canadian revolving credit facility remain the same. | |
As of January 4, 2014, we had outstanding borrowings of $3.3 million and excess availability of $1.3 million under the terms of our Canadian revolving credit facility. As of December 29, 2012, we had outstanding borrowings of $1.9 million and excess availability of $2.0 million under the terms of our Canadian revolving credit facility. The interest rate on the Canadian revolving credit facility was 4.0% at January 4, 2014 and December 29, 2012. The Canadian revolving credit facility contains customary covenants and events of default for asset-based credit agreements of this type, including the requirement for BlueLinx Canada to maintain a minimum adjusted tangible net worth of $3.9 million and for that entity’s capital expenditures not to exceed 120% of the amount budgeted in a given year. As of January 4, 2014 and through the time of the filing of this Form 10-K, we were in compliance with all covenants under this facility |
Mortgage
Mortgage | 12 Months Ended | ||||
Jan. 04, 2014 | |||||
Mortgage Disclosure [Abstract] | ' | ||||
Mortgage | ' | ||||
11. Mortgage | |||||
We have a $295 million mortgage loan with the German American Capital Corporation. The mortgage has a term of ten years and is secured by 50 distribution facilities. The stated interest rate on the mortgage is fixed at 6.35%. German American Capital Corporation assigned half of its interest in the mortgage loan to Wachovia Bank, National Association and both lenders securitized their Notes in separate commercial mortgage backed securities pools in 2006. As of January 4, 2014 and December 29, 2012, the balance on our mortgage loan was $186.9 million and $206 million, respectively. | |||||
On September 19, 2012, we entered into an amendment to our mortgage agreement, which provided for the immediate prepayment of approximately $11.8 million of the indebtedness under the mortgage agreement without incurring a prepayment premium from cash currently held as collateral under the mortgage agreement. In addition, on the last business day of each calendar quarter, starting with the fourth quarter of fiscal 2012, additional funds held as collateral under the mortgage agreement will be used to prepay indebtedness under the mortgage agreement, without prepayment premium, up to an aggregate additional prepayment of $10.0 million. Thereafter, any cash remaining in the collateral account under the mortgage agreement, up to an aggregate of $10.0 million, will be released to the Company on the last business day of each calendar quarter through the third quarter of fiscal 2014. All funds released pursuant to these provisions may only be used by the Company to pay for usual and customary operating expenses. During the periods described above in which cash in the collateral account is used to either prepay indebtedness under the mortgage agreement or released to the Company, the lenders will not release any of the cash collateral to the Company for specified capital expenditures as previously provided under the mortgage agreement. Under the terms of our mortgage, we are required to transfer certain funds to be held as collateral. Approximately $6.3 million of funds held in collateral were used to prepay indebtedness under the mortgage agreement during fiscal 2013. Approximately $2.7 million of cash held in collateral were released to the Company during fiscal 2013 to pay for usual and customary operating expenses. We expect to transfer approximately $13.2 million as collateral during the next twelve month period, approximately $7.3 million of which will be remitted to us on a quarterly basis to pay for usual and customary operating expenses. In conjunction with the modification of our mortgage agreement we incurred approximately $0.3 million in fees that were capitalized and are being amortized over the remaining term of the mortgage. | |||||
During the third quarter of fiscal 2013, we sold our sales center in Denver, Colorado and increased the restricted cash related to our mortgage by $8.4 million, which represents the allocated mortgage related to the property. During the fourth quarter of fiscal 2013, we sold our Sioux Falls, South Dakota facility and increased the restricted cash related to our mortgage by $1.9 million, which represents the allocated mortgage related to the property. This restricted cash for both locations was used to pay down the outstanding principal of the mortgage in the fourth quarter of fiscal 2013. During the first quarter of fiscal 2012, we sold certain parcels of excess land. As a result of the sale of one of these parcels, we increased the amount of restricted cash required to be held in connection with our mortgage by $0.3 million. In addition, during the third quarter of fiscal 2012, we sold our facility in Fremont, California and increased the restricted cash related to our mortgage by $12.8 million. This restricted cash was used to pay down the mortgage in the fourth quarter of fiscal 2012. | |||||
The mortgage loan required interest-only payments through June 2011, at which time we began making payments on the outstanding principal balance. The balance of the loan outstanding at the end of ten years will then become due and payable. The principal will be paid in the following increments (in thousands): | |||||
2014 | $ | 2,761 | |||
2015 | 2,744 | ||||
2016 | 181,438 | ||||
2017 | — | ||||
2018 | — | ||||
Thereafter | — | ||||
Total | $ | 186,943 |
Derivatives
Derivatives | 12 Months Ended |
Jan. 04, 2014 | |
Derivatives [Abstract] | ' |
Derivatives | ' |
12. Derivatives | |
On June 12, 2006, we entered into an interest rate swap agreement with Goldman Sachs Capital Markets, to hedge against interest rate risks related to our variable rate U.S. revolving credit facility. The interest rate swap was terminated in March of 2011. Due to the termination of the swap in fiscal 2011, the fair value of the swap as of December 31, 2011 was zero. Changes associated with the ineffective interest rate swap recognized in the Consolidated Statements of Operations and Comprehensive Loss for fiscal 2011 were approximately $1.7 million of income and were comprised of amortization of the remaining accumulated other comprehensive loss of the ineffective swap of $0.5 million offset by income of $2.2 million related to reducing the fair value of the ineffective interest rate swap liability to zero. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 04, 2014 | |
Fair Value Measurements [Abstract] | ' |
Fair Value Measurements | ' |
13. Fair Value Measurements | |
We determine a fair value measurement based on the assumptions a market participant would use in pricing an asset or liability. The fair value measurement guidance established a three level hierarchy making a distinction between market participant assumptions based on (i) unadjusted quoted prices for identical assets or liabilities in an active market (Level 1), (ii) quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability (Level 2), and (iii) prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (Level 3). | |
Carrying amounts for our financial instruments are not significantly different from their fair value, with the exception of our mortgage. To determine the fair value of our mortgage, we used a discounted cash flow model. We believe the mortgage fair value valuation to be Level 2 in the fair value hierarchy, as the valuation model has inputs that are observable for substantially the full term of the liability. Assumptions critical to our fair value measurements in the period are present value factors used in determining fair value and an interest rate. At January 4, 2014, the discounted carrying value and fair value of our mortgage was $186.9 million and $186.6 million, respectively. At December 29, 2012, the discounted carrying value and fair value of our mortgage was $206.0 million and $205.5 million, respectively. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Jan. 04, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
14. Related Party Transactions | |
Cerberus Capital Management, L.P., our equity sponsor, retains consultants that specialize in operations management and support and who provide Cerberus with consulting advice concerning portfolio companies in which funds and accounts managed by Cerberus or its affiliates have invested. From time to time, Cerberus makes the services of these consultants available to Cerberus portfolio companies. We believe that the terms of these consulting arrangements are favorable to us, or, alternatively, are materially consistent with those terms that would have been obtained by us in an arrangement with an unaffiliated third party. We have normal service, purchase and sales arrangements with other entities that are owned or controlled by Cerberus. We believe that these transactions are not material to our results of operations or financial position. | |
In connection with the 2013 Rights Offering, Cerberus ABP Investor LLC (“Cerberus”), the Company’s majority shareholder, exercised all of the rights issued to it and subscribed for the maximum additional shares pursuant to the over-subscription privilege that it was entitled to purchase. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||
Jan. 04, 2014 | |||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||
Commitments and Contingencies | ' | ||||||||
15. Commitments and Contingencies | |||||||||
Self-Insurance | |||||||||
It is our policy to self-insure, up to certain limits, traditional risks including workers’ compensation, comprehensive general liability, and auto liability. Our self-insured deductible for each claim involving workers’ compensation, and auto liability is limited to $0.8 million and $2.0 million, respectively. Our self-insured retention for each claim involving comprehensive general liability (including product liability claims) is limited to $0.8 million. We are also self-insured up to certain limits for certain other insurable risks, primarily physical loss to property, excluding natural catastrophes ($0.1 million per occurrence), Director and Officer ($0.8 million per occurrence) and the majority of our medical benefit plans ($0.3 million per occurrence). Insurance coverage is maintained for catastrophic property and casualty exposures as well as those risks required to be insured by law or contract. A provision for claims under this self-insured program, based on our estimate of the aggregate liability for claims incurred, is revised and recorded annually. The estimate is derived from both internal and external sources including but not limited to actuarial estimates. The actuarial estimates are subject to uncertainty from various sources, including, among others, changes in claim reporting patterns, claim settlement patterns, judicial decisions, legislation, and economic conditions. Although, we believe that the actuarial estimates are reasonable, significant differences related to the items noted above could materially affect our self-insurance obligations, future expense and cash flow. At January 4, 2014, and December 29, 2012, the self-insurance reserves totaled $6.9 million and $7.2 million, respectively. We incurred $11.7 million in expense and $12.0 million in payments, net of reimbursements in fiscal 2013 related to our workers compensation, auto, general liability and health and welfare reserves. We incurred $10.7 million in expense and $11.1 million in payments, net of reimbursements in fiscal 2012 related to our workers compensation, auto, general liability and health and welfare reserves. | |||||||||
Operating Leases | |||||||||
Total rental expense was approximately $4.8 million for fiscal 2013, fiscal 2012, and fiscal 2011. | |||||||||
At January 4, 2014, our total commitments under long-term, non-cancelable operating leases were as follows (in thousands): | |||||||||
2014 | $ | 4,391 | |||||||
2015 | 3,968 | ||||||||
2016 | 4,036 | ||||||||
2017 | 4,060 | ||||||||
2018 | 3,498 | ||||||||
Thereafter | 10,060 | ||||||||
Total | $ | 30,013 | |||||||
Certain of our operating leases have extension options and escalation clauses. | |||||||||
Capital Leases | |||||||||
We entered into certain capital leases for trucks and trailers during fiscal 2013, fiscal 2012 and fiscal 2011. These capital leases have maturities of 5 to 6 years. As of January 4, 2014, the basis and net book value of assets under capital leases was $15.4 million and $11.1 million, respectively. As of December 29, 2012, the basis and net book value of assets under capital leases was $10.3 million and $9.3 million, respectively. As of December 31, 2011, the basis and net book value of assets under capital leases was $5.0 million and $4.0 million, respectively. Depreciation expense for assets under capital leases is included in the total depreciation expense disclosed in the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
At January 4, 2014, our total commitments under long-term, non-cancelable capital leases were as follows (in thousands): | |||||||||
Principal | Interest | ||||||||
2014 | $ | 1,753 | $ | 509 | |||||
2015 | 1,847 | 399 | |||||||
2016 | 1,746 | 273 | |||||||
2017 | 1,342 | 186 | |||||||
2018 | 1,406 | 95 | |||||||
Thereafter | 604 | 20 | |||||||
Total | $ | 8,698 | $ | 1,482 | |||||
Executory costs are nominal for each of the years presented. | |||||||||
Environmental and Legal Matters | |||||||||
From time to time, we are involved in various proceedings incidental to our businesses, and we are subject to a variety of environmental and pollution control laws and regulations in all jurisdictions in which we operate. Although the ultimate outcome of these proceedings cannot be determined with certainty, based on presently available information management believes that adequate reserves have been established for probable losses with respect thereto. Management further believes that the ultimate outcome of these matters could be material to operating results in any given quarter but will not have a materially adverse effect on our long-term financial condition, our results of operations, or our cash flows. | |||||||||
Collective Bargaining Agreements | |||||||||
As of January 4, 2014, approximately 33% of our employees were represented by various labor unions. As of January 4, 2014, we had 36 collective bargaining agreements, of which 5 are up for renewal in fiscal 2014. We consider our relationship with our employees generally to be good. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Jan. 04, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
16. Subsequent Events | |
We are not aware of any additional significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on our Consolidated Financial Statements. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||||||||
Jan. 04, 2014 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||
Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||||
17. Accumulated Other Comprehensive Loss | ||||||||||||||||||||||
Comprehensive income (loss) is a measure of income which includes both net loss and other comprehensive income (loss). Other comprehensive income (loss) results from items deferred from recognition into our Consolidated Statements of Operations and Comprehensive Loss. Accumulated other comprehensive loss is separately presented on our Consolidated Balance Sheets as part of common stockholders’ deficit. Other comprehensive income (loss) was $13.7 million, $(8.1) million, and $(14.5) million for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. | ||||||||||||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2013 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,797 | $ | (32,051 | ) | $ | 212 | $ | (30,042 | ) | ||||||||||||
Other comprehensive loss (income) before reclassification, net of tax | (161 | ) | — | — | (161 | ) | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax | — | 13,910 | — | 13,910 | ||||||||||||||||||
Current-period other comprehensive (loss) income, net of tax | (161 | ) | 13,910 | — | 13,749 | |||||||||||||||||
Ending balance, net of tax | $ | 1,636 | $ | (18,141 | ) | $ | 212 | $ | (16,293 | ) | ||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2012 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,694 | $ | (23,806 | ) | $ | 212 | $ | (21,900 | ) | ||||||||||||
Current-period other comprehensive income (loss) net of tax | 103 | (8,245 | ) | — | (8,142 | ) | ||||||||||||||||
Ending balance, net of tax | $ | 1,797 | $ | (32,051 | ) | $ | 212 | $ | (30,042 | ) | ||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2011 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,786 | $ | (8,837 | ) | $ | (307 | ) | $ | (7,358 | ) | |||||||||||
Current-period other comprehensive (loss) income, net of tax | (92 | ) | (14,969 | ) | 519 | (14,542 | ) | |||||||||||||||
Ending balance, net of tax | $ | 1,694 | $ | (23,806 | ) | $ | 212 | $ | (21,900 | ) | ||||||||||||
Reclassifications out of accumulated other comprehensive loss into the Consolidated Statements of Operations and Comprehensive Loss for fiscal 2013 were as follows (in thousands): | ||||||||||||||||||||||
Amount reclassified from | Affected line item in the | |||||||||||||||||||||
accumulated other | statement where net | |||||||||||||||||||||
Details about accumulated other comprehensive | comprehensive loss | income is presented | ||||||||||||||||||||
loss components | ||||||||||||||||||||||
Amortization of defined benefit pension items: | ||||||||||||||||||||||
Actuarial gain | $ | 22,804 | Total before tax (1) | |||||||||||||||||||
Tax impact | 8,894 | Tax impact (2) | ||||||||||||||||||||
Total, net of tax | $ | 13,910 | Net of tax | |||||||||||||||||||
(1) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost. Refer to Note 8 of the Notes to Consolidated Financial Statements for the required disclosures. | ||||||||||||||||||||||
(2) We allocated income tax expense to accumulated other comprehensive loss to the extent income was recorded in accumulated other comprehensive loss and we have a loss from continuing operations. Refer to Note 5 of the Notes to Consolidated Financial Statements for the required disclosures. | ||||||||||||||||||||||
There were no reclassifications out of accumulated other comprehensive loss for fiscal 2012 and fiscal 2011 due to the fact that there was no intraperiod income tax allocation and the deferred tax benefit was fully offset by a valuation allowance. |
Unaudited_Selected_Quarterly_F
Unaudited Selected Quarterly Financial Data | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||||||
Unaudited Selected Quarterly Financial Data | ' | ||||||||||||||||||||||||||||||||
18. Unaudited Selected Quarterly Financial Data | |||||||||||||||||||||||||||||||||
Fiscal 2013 contained 53 weeks. Fiscal 2012 and fiscal 2011 each contained 52 weeks. Our fiscal quarters are based on a 5-4-4 week period, with the exception of the fourth fiscal quarter of fiscal years containing 53 weeks, which are based on a 5-4-5 week period. | |||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | ||||||||||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||||||
March 30, | March 31, | June 29, | June 30, | September 28, | September 29, | January 4, | December 29, | ||||||||||||||||||||||||||
2013(a) | 2012(b) | 2013(c) | 2012(d) | 2013(e) | 2012(f) | 2014(g) | 2012(h) | ||||||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||||||||||||
Net sales | $ | 503,153 | $ | 453,708 | $ | 604,592 | $ | 517,026 | $ | 557,952 | $ | 496,810 | $ | 486,275 | $ | 440,298 | |||||||||||||||||
Gross profit | 56,458 | 54,232 | 55,185 | 63,188 | 62,492 | 60,531 | 54,348 | 52,119 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Selling, general and administrative | 58,760 | 56,644 | 61,201 | 57,564 | 58,176 | 57,307 | 55,627 | 54,842 | |||||||||||||||||||||||||
Gain from property insurance settlement | — | — | — | (476 | ) | — | — | — | — | ||||||||||||||||||||||||
(Gain) loss from sale of properties | (230 | ) | (578 | ) | — | 48 | (3,679 | ) | (9,151 | ) | (1,311 | ) | (204 | ) | |||||||||||||||||||
Restructuring and other charges | 889 | — | 7,309 | — | 2,758 | — | 1,167 | — | |||||||||||||||||||||||||
Depreciation and amortization | 2,173 | 2,260 | 2,229 | 2,187 | 2,144 | 2,106 | 2,571 | 2,012 | |||||||||||||||||||||||||
Operating (loss) income | (5,134 | ) | (4,094 | ) | (15,554 | ) | 3,865 | 3,093 | 10,269 | (3,706 | ) | (4,531 | ) | ||||||||||||||||||||
Non-operating expenses: | |||||||||||||||||||||||||||||||||
Interest expense | 7,192 | 6,782 | 6,916 | 7,325 | 6,918 | 7,294 | 6,998 | 6,756 | |||||||||||||||||||||||||
Other expense (income) | 110 | (62 | ) | 128 | 49 | 17 | (16 | ) | 50 | 22 | |||||||||||||||||||||||
(Benefit from) provision for income taxes | (4,637 | ) | (3,969 | ) | (9,105 | ) | (1,157 | ) | (2,134 | ) | 1,078 | (12,491 | ) | (4,305 | ) | ||||||||||||||||||
Tax valuation allowance | 4,850 | 4,174 | 8,813 | 1,354 | 1,498 | (1,155 | ) | 4,194 | 4,366 | ||||||||||||||||||||||||
Net (loss) income | $ | (12,649 | ) | $ | (11,019 | ) | $ | (22,306 | ) | $ | (3,706 | ) | $ | (3,206 | ) | $ | 3,068 | $ | (2,457 | ) | $ | (11,370 | ) | ||||||||||
Basic and diluted weighted average number of common shares outstanding | 66,714 | 65,368 | 84,167 | 65,471 | 84,596 | 65,473 | 84,818 | 65,494 | |||||||||||||||||||||||||
Basic and diluted net (loss) income per share applicable to common shares | $ | (0.19 | ) | $ | (0.17 | ) | $ | (0.27 | ) | $ | (0.06 | ) | $ | (0.04 | ) | $ | 0.04 | $ | (0.03 | ) | $ | (0.17 | ) | ||||||||||
(a) | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(b) | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(c) | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(d) | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(e) | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(f) | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||||||||||||||||
(g) | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(h) | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Supplemental_Condensed_Consoli
Supplemental Condensed Consolidating Financial Statements | 12 Months Ended | ||||||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||||||
Supplemental Condensed Consolidating Financial Statements [Abstract] | ' | ||||||||||||||||||||
Supplemental Condensed Consolidating Financial Statements | ' | ||||||||||||||||||||
19. Supplemental Condensed Consolidating Financial Statements | |||||||||||||||||||||
The condensed consolidating financial information as of January 4, 2014, and December 29, 2012 and for fiscal 2013, fiscal 2012, and fiscal 2011 is provided due to restrictions in our revolving credit facility that limit distributions by BlueLinx Corporation, our operating company and our wholly-owned subsidiary, to us, which, in turn, may limit our ability to pay dividends to holders of our common stock (see Note 10, Revolving Credit Facility, for a more detailed discussion of these restrictions and the terms of the facility). Also included in the supplemental condensed consolidated/combining financial statements are fifty-three single member limited liability companies, which are wholly owned by us (the “LLC subsidiaries”). The LLC subsidiaries own certain warehouse properties that are occupied by BlueLinx Corporation, each under the terms of a master lease agreement. The warehouse properties collateralize a mortgage loan and are not available to satisfy the debts and other obligations of either us or BlueLinx Corporation. Certain changes have been made to the prior year presentation to conform to the current year presentation. | |||||||||||||||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings | Corporation | Subsidiaries | |||||||||||||||||||
and Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net sales | $ | — | $ | 2,151,972 | $ | 27,363 | $ | (27,363 | ) | $ | 2,151,972 | ||||||||||
Cost of sales | — | 1,923,489 | — | — | 1,923,489 | ||||||||||||||||
Gross profit | — | 228,483 | 27,363 | (27,363 | ) | 228,483 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 5,913 | 267,232 | (5,115 | ) | (27,363 | ) | 240,667 | ||||||||||||||
Depreciation and amortization | — | 5,700 | 3,417 | — | 9,117 | ||||||||||||||||
Total operating expenses (income) | 5,913 | 272,932 | (1,698 | ) | (27,363 | ) | 249,784 | ||||||||||||||
Operating (loss) income | (5,913 | ) | (44,449 | ) | 29,061 | — | (21,301 | ) | |||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 13,686 | 14,338 | — | 28,024 | ||||||||||||||||
Other expense (income), net | — | 318 | (12 | ) | — | 306 | |||||||||||||||
(Loss) income before provision for (benefit from) income taxes | (5,913 | ) | (58,453 | ) | 14,735 | — | (49,631 | ) | |||||||||||||
Provision for (benefit from) income taxes | (157 | ) | (9,248 | ) | 392 | — | (9,013 | ) | |||||||||||||
Equity in (loss) income of subsidiaries | (34,862 | ) | — | — | 34,862 | — | |||||||||||||||
Net (loss) income | $ | (40,618 | ) | $ | (49,205 | ) | $ | 14,343 | $ | 34,862 | $ | (40,618 | ) | ||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings | Corporation | Subsidiaries | |||||||||||||||||||
and Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net sales | $ | — | $ | 1,907,842 | $ | 28,330 | $ | (28,330 | ) | $ | 1,907,842 | ||||||||||
Cost of sales | — | 1,677,772 | — | — | 1,677,772 | ||||||||||||||||
Gross profit | — | 230,070 | 28,330 | (28,330 | ) | 230,070 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 3,940 | 250,098 | (9,712 | ) | (28,330 | ) | 215,996 | ||||||||||||||
Depreciation and amortization | — | 5,040 | 3,525 | — | 8,565 | ||||||||||||||||
Total operating expenses (income) | 3,940 | 255,138 | (6,187 | ) | (28,330 | ) | 224,561 | ||||||||||||||
Operating (loss) income | (3,940 | ) | (25,068 | ) | 34,517 | — | 5,509 | ||||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 12,159 | 15,998 | — | 28,157 | ||||||||||||||||
Other expense (income), net | — | 10 | (17 | ) | — | (7 | ) | ||||||||||||||
(Loss) income before provision for income taxes | (3,940 | ) | (37,237 | ) | 18,536 | — | (22,641 | ) | |||||||||||||
Provision for income taxes | 386 | — | — | 386 | |||||||||||||||||
Equity in (loss) income of subsidiaries | (18,701 | ) | — | — | 18,701 | — | |||||||||||||||
Net (loss) income | $ | (23,027 | ) | $ | (37,237 | ) | $ | 18,536 | $ | 18,701 | $ | (23,027 | ) | ||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | ||||||||||||||||||||
Holdings | Corporation | LLC | |||||||||||||||||||
and Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Net sales | $ | — | $ | 1,755,431 | $ | 29,665 | $ | (29,665 | ) | $ | 1,755,431 | ||||||||||
Cost of sales | — | 1,545,282 | — | — | 1,545,282 | ||||||||||||||||
Gross profit | — | 210,149 | 29,665 | (29,665 | ) | 210,149 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 3,728 | 244,398 | (10,604 | ) | (29,665 | ) | 207,857 | ||||||||||||||
Depreciation and amortization | — | 6,790 | 3,772 | — | 10,562 | ||||||||||||||||
Total operating expenses (income) | 3,728 | 251,188 | (6,832 | ) | (29,665 | ) | 218,419 | ||||||||||||||
Operating (loss) income | (3,728 | ) | (41,039 | ) | 36,497 | — | (8,270 | ) | |||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 12,528 | 17,982 | — | 30,510 | ||||||||||||||||
Changes associated with ineffective interest rate swap | — | (1,676 | ) | — | — | (1,676 | ) | ||||||||||||||
Other expense (income), net | — | 516 | (15 | ) | — | 501 | |||||||||||||||
(Loss) income before provision for income taxes | (3,728 | ) | (52,407 | ) | 18,530 | — | (37,605 | ) | |||||||||||||
Provision for income taxes | 459 | 503 | — | — | 962 | ||||||||||||||||
Equity in (loss) income of subsidiaries | (34,380 | ) | — | — | 34,380 | — | |||||||||||||||
Net (loss) income | $ | (38,567 | ) | $ | (52,910 | ) | $ | 18,530 | $ | 34,380 | $ | (38,567 | ) | ||||||||
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | |||||||||||||||||||||
BlueLinx | Corporation | ||||||||||||||||||||
Holdings Inc. | and | LLC | |||||||||||||||||||
Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash | $ | 47 | $ | 4,987 | $ | — | $ | — | $ | 5,034 | |||||||||||
Receivables | — | 150,297 | — | — | 150,297 | ||||||||||||||||
Inventories | — | 223,580 | — | — | 223,580 | ||||||||||||||||
Deferred income tax asset, net | — | — | 397 | (397 | ) | — | |||||||||||||||
Other current assets | 790 | 20,208 | 1,816 | — | 22,814 | ||||||||||||||||
Intercompany receivable | 68,454 | 26,374 | — | (94,828 | ) | — | |||||||||||||||
Total current assets | 69,291 | 425,446 | 2,213 | (95,225 | ) | 401,725 | |||||||||||||||
Property and equipment: | |||||||||||||||||||||
Land and land improvements | — | 4,040 | 37,136 | — | 41,176 | ||||||||||||||||
Buildings | — | 10,839 | 79,243 | — | 90,082 | ||||||||||||||||
Machinery and equipment | — | 73,004 | — | — | 73,004 | ||||||||||||||||
Construction in progress | — | 3,028 | — | — | 3,028 | ||||||||||||||||
Property and equipment, at cost | — | 90,911 | 116,379 | — | 207,290 | ||||||||||||||||
Accumulated depreciation | — | (64,557 | ) | (31,614 | ) | — | (96,171 | ) | |||||||||||||
Property and equipment, net | — | 26,354 | 84,765 | — | 111,119 | ||||||||||||||||
Investment in subsidiaries | (47,735 | ) | — | — | 47,735 | — | |||||||||||||||
Non-current deferred income tax assets, net | — | 1,221 | — | (397 | ) | 824 | |||||||||||||||
Other non-current assets | — | 11,768 | 4,810 | — | 16,578 | ||||||||||||||||
Total assets | $ | 21,556 | $ | 464,789 | $ | 91,788 | $ | (47,887 | ) | $ | 530,246 | ||||||||||
Liabilities: | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,080 | $ | 59,283 | $ | — | $ | — | 60,363 | ||||||||||||
Bank overdrafts | — | 19,377 | — | — | 19,377 | ||||||||||||||||
Accrued compensation | — | 4,173 | — | — | 4,173 | ||||||||||||||||
Current maturities of long-term debt | — | — | 9,141 | — | 9,141 | ||||||||||||||||
Deferred income tax liabilities, net | — | 1,220 | — | (397 | ) | 823 | |||||||||||||||
Other current liabilities | — | 11,727 | 1,222 | — | 12,949 | ||||||||||||||||
Intercompany payable | 26,374 | 68,454 | — | (94,828 | ) | — | |||||||||||||||
Total current liabilities | 27,454 | 164,234 | 10,363 | (95,225 | ) | 106,826 | |||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt | — | 211,193 | 177,802 | — | 388,995 | ||||||||||||||||
Non-current deferred income taxes | — | — | 397 | (397 | ) | — | |||||||||||||||
Other non-current liabilities | — | 40,323 | — | — | 40,323 | ||||||||||||||||
Total liabilities | 27,454 | 415,750 | 188,562 | (95,622 | ) | 536,144 | |||||||||||||||
Stockholders’ (deficit) equity/Parent’s Investment | (5,898 | ) | 49,039 | (96,774 | ) | 47,735 | (5,898 | ) | |||||||||||||
Total liabilities and (deficit) equity | $ | 21,556 | $ | 464,789 | $ | 91,788 | $ | (47,887 | ) | $ | 530,246 | ||||||||||
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | |||||||||||||||||||||
BlueLinx | Corporation | ||||||||||||||||||||
Holdings Inc. | and | LLC | |||||||||||||||||||
Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash | $ | 28 | $ | 5,160 | $ | — | $ | — | $ | 5,188 | |||||||||||
Receivables | — | 157,465 | — | — | 157,465 | ||||||||||||||||
Inventories | — | 230,059 | — | — | 230,059 | ||||||||||||||||
Other current assets | 1,596 | 17,790 | 41 | — | 19,427 | ||||||||||||||||
Intercompany receivable | 73,981 | 28,814 | — | (102,795 | ) | — | |||||||||||||||
Total current assets | 75,605 | 439,288 | 41 | (102,795 | ) | 412,139 | |||||||||||||||
Property and equipment: | |||||||||||||||||||||
Land and land improvements | — | 3,250 | 39,870 | — | 43,120 | ||||||||||||||||
Buildings | — | 10,213 | 83,857 | — | 94,070 | ||||||||||||||||
Machinery and equipment | — | 78,674 | — | — | 78,674 | ||||||||||||||||
Construction in progress | — | 1,173 | — | — | 1,173 | ||||||||||||||||
Property and equipment, at cost | — | 93,310 | 123,727 | — | 217,037 | ||||||||||||||||
Accumulated depreciation | — | (71,583 | ) | (30,101 | ) | — | (101,684 | ) | |||||||||||||
Property and equipment, net | — | 21,727 | 93,626 | — | 115,353 | ||||||||||||||||
Investment in subsidiaries | (67,053 | ) | — | — | 67,053 | — | |||||||||||||||
Non-current deferred income tax assets, net | — | 445 | — | — | 445 | ||||||||||||||||
Other non-current assets | — | 10,646 | 6,153 | — | 16,799 | ||||||||||||||||
Total assets | $ | 8,552 | $ | 472,106 | $ | 99,820 | $ | (35,742 | ) | $ | 544,736 | ||||||||||
Liabilities: | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 203 | $ | 77,257 | $ | 390 | $ | — | 77,850 | ||||||||||||
Bank overdrafts | — | 35,384 | — | — | 35,384 | ||||||||||||||||
Accrued compensation | 127 | 6,043 | — | — | 6,170 | ||||||||||||||||
Current maturities of long-term debt | — | — | 8,946 | — | 8,946 | ||||||||||||||||
Deferred income tax liabilities, net | — | 449 | — | — | 449 | ||||||||||||||||
Other current liabilities | — | 9,831 | 1,106 | — | 10,937 | ||||||||||||||||
Intercompany payable | 28,814 | 73,981 | — | (102,795 | ) | — | |||||||||||||||
Total current liabilities | 29,144 | 202,945 | 10,442 | (102,795 | ) | 139,736 | |||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt | — | 171,412 | 197,034 | — | 368,446 | ||||||||||||||||
Other non-current liabilities | — | 57,146 | — | — | 57,146 | ||||||||||||||||
Total liabilities | 29,144 | 431,503 | 207,476 | (102,795 | ) | 565,328 | |||||||||||||||
Stockholders’ (deficit) equity/Parent’s Investment | (20,592 | ) | 40,603 | (107,656 | ) | 67,053 | (20,592 | ) | |||||||||||||
Total liabilities and (deficit) equity | $ | 8,552 | $ | 472,106 | $ | 99,820 | $ | (35,742 | ) | $ | 544,736 | ||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | Eliminations | Consolidated | |||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (40,618 | ) | $ | (49,205 | ) | $ | 14,343 | $ | 34,862 | $ | (40,618 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | — | 5,700 | 3,417 | — | 9,117 | ||||||||||||||||
Amortization of debt issue costs | — | 1,841 | 1,343 | — | 3,184 | ||||||||||||||||
Write-off of debt issuance costs | — | 119 | — | — | 119 | ||||||||||||||||
Loss (gain) from sale of properties | — | 554 | (5,774 | ) | — | (5,220 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | — | — | — | ||||||||||||||||
Vacant property charges, net | — | 1,321 | — | — | 1,321 | ||||||||||||||||
Severance charges | — | 5,607 | — | — | 5,607 | ||||||||||||||||
Payments on modification of lease agreement | — | (300 | ) | — | — | (300 | ) | ||||||||||||||
Deferred income tax benefit | — | (5 | ) | -397 | 397 | (5 | ) | ||||||||||||||
Intraperiod income tax allocation related to the hourly pension plan | — | (8,894 | ) | — | — | (8,894 | ) | ||||||||||||||
Pension expense | — | 4,591 | — | — | 4,591 | ||||||||||||||||
Share-based compensation, excluding restructuring related | 904 | 2,318 | — | — | 3,222 | ||||||||||||||||
Share-based compensation, restructuring related | — | 2,895 | — | — | 2,895 | ||||||||||||||||
Increase in restricted cash related to insurance and other | — | (1,810 | ) | — | — | (1,810 | ) | ||||||||||||||
Accrued compensation and other | 684 | (10,064 | ) | 625 | -397 | (9,152 | ) | ||||||||||||||
Equity (deficit) in earnings of subsidiaries | 34,862 | — | — | (34,862 | ) | — | |||||||||||||||
Intercompany receivable | 5,527 | 2,440 | — | (7,967 | ) | — | |||||||||||||||
Intercompany payable | (2,440 | ) | (5,527 | ) | — | 7,967 | — | ||||||||||||||
(1,081 | ) | (48,419 | ) | 13,557 | — | (35,943 | ) | ||||||||||||||
Changes in primary working capital components: | |||||||||||||||||||||
Receivables | — | 7,168 | — | — | 7,168 | ||||||||||||||||
Inventories | — | 6,479 | — | — | 6,479 | ||||||||||||||||
Accounts payable | 779 | (17,973 | ) | (391 | ) | — | (17,585 | ) | |||||||||||||
Net cash (used in) provided by operating activities | (302 | ) | (52,745 | ) | 13,166 | — | (39,881 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | (35,202 | ) | 38,663 | (3,461 | ) | — | — | ||||||||||||||
Property, plant and equipment investments | — | (4,912 | ) | — | — | (4,912 | ) | ||||||||||||||
Proceeds from disposition of assets | — | 1,072 | 9,293 | — | 10,365 | ||||||||||||||||
Net cash provided by (used in) investing activities | (35,202 | ) | 34,823 | 5,832 | — | 5,453 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | 16 | — | — | 16 | ||||||||||||||||
Repurchase of shares to satisfy employee tax withholdings | (3,192 | ) | — | — | — | (3,192 | ) | ||||||||||||||
Repayments on revolving credit facilities | — | (560,186 | ) | — | — | (560,186 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 599,968 | — | — | 599,968 | ||||||||||||||||
Payments of principal on mortgage | — | — | (19,038 | ) | — | (19,038 | ) | ||||||||||||||
Payments on capital lease obligations | — | (3,142 | ) | — | — | (3,142 | ) | ||||||||||||||
(Decrease) increase in bank overdrafts | — | (16,007 | ) | — | — | (16,007 | ) | ||||||||||||||
Increase in restricted cash related to the mortgage | — | — | 40 | — | 40 | ||||||||||||||||
Proceeds from rights offering, less expenses paid | 38,715 | — | — | — | 38,715 | ||||||||||||||||
Debt issuance costs | — | (2,900 | ) | — | — | (2,900 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | 35,523 | 17,749 | (18,998 | ) | — | 34,274 | |||||||||||||||
Increase (decrease) in cash | 19 | (173 | ) | — | — | (154 | ) | ||||||||||||||
Balance, beginning of period | 28 | 5,160 | — | — | 5,188 | ||||||||||||||||
Balance, end of period | $ | 47 | $ | 4,987 | $ | — | $ | — | $ | 5,034 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | (61 | ) | $ | (271 | ) | $ | — | $ | (332 | ) | ||||||||
Interest paid during the period | $ | 13,480 | $ | 11,226 | $ | — | $ | — | $ | 24,706 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 5,069 | $ | — | $ | — | $ | 5,069 | |||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (23,027 | ) | $ | (37,237 | ) | $ | 18,536 | $ | 18,701 | $ | (23,027 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operations: | |||||||||||||||||||||
Depreciation and amortization | — | 5,040 | 3,525 | — | 8,565 | ||||||||||||||||
Amortization of debt issue costs | — | 2,471 | 1,275 | — | 3,746 | ||||||||||||||||
Write-off of debt issuance costs | — | — | — | — | — | ||||||||||||||||
Gain from sale of properties | — | — | (9,885 | ) | — | (9,885 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | (476 | ) | — | (476 | ) | ||||||||||||||
Vacant property charges, net | — | (30 | ) | — | — | (30 | ) | ||||||||||||||
Severance charges | — | — | — | — | — | ||||||||||||||||
Payments on modification of lease agreement | — | (5,875 | ) | — | — | (5,875 | ) | ||||||||||||||
Deferred income tax benefit | — | (20 | ) | — | — | (20 | ) | ||||||||||||||
Pension expense | — | 3,942 | — | — | 3,942 | ||||||||||||||||
Share-based compensation, excluding restructuring related | 528 | 2,269 | — | — | 2,797 | ||||||||||||||||
Share-based compensation, restructuring related | — | — | — | — | — | ||||||||||||||||
Decrease in restricted cash related to the ineffective interest swap, insurance, and other | — | 695 | — | — | 695 | ||||||||||||||||
Accrued compensation and other | (971 | ) | 875 | (561 | ) | — | (657 | ) | |||||||||||||
Equity (deficit) in earnings of subsidiaries | 18,701 | — | — | (18,701 | ) | — | |||||||||||||||
Intercompany receivable | (6,940 | ) | (10,332 | ) | — | 17,272 | — | ||||||||||||||
Intercompany payable | 10,332 | 6,940 | — | (17,272 | ) | — | |||||||||||||||
(1,377 | ) | (31,262 | ) | 12,414 | — | (20,225 | ) | ||||||||||||||
Changes in primary working capital components: | |||||||||||||||||||||
Receivables | — | (18,593 | ) | — | — | (18,593 | ) | ||||||||||||||
Inventories | — | (44,482 | ) | — | — | (44,482 | ) | ||||||||||||||
Accounts payable | 42 | 8,619 | 389 | — | 9,050 | ||||||||||||||||
Net cash (used in) provided by operating activities | (1,335 | ) | (85,718 | ) | 12,803 | — | (74,250 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | 1,862 | 154 | (2,016 | ) | — | — | |||||||||||||||
Property, plant and equipment investments | — | (2,826 | ) | — | (2,826 | ) | |||||||||||||||
Proceeds from disposition of assets | — | 997 | 18,198 | — | 19,195 | ||||||||||||||||
Net cash provided by (used in) investing activities | 1,862 | (1,675 | ) | 16,182 | — | 16,369 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | — | — | — | — | ||||||||||||||||
Repurchase of shares to satisfy employee tax withholdings | (526 | ) | — | — | — | (526 | ) | ||||||||||||||
Repayments on revolving credit facilities | — | (473,349 | ) | — | — | (473,349 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 550,270 | — | — | 550,270 | ||||||||||||||||
Principal payments on mortgage | — | — | (37,272 | ) | — | (37,272 | ) | ||||||||||||||
Payments on capital lease obligations | — | (2,259 | ) | — | — | (2,259 | ) | ||||||||||||||
Increase in bank overdrafts | — | 13,020 | — | — | 13,020 | ||||||||||||||||
Decrease in restricted cash related to the mortgage | — | — | 9,970 | — | 9,970 | ||||||||||||||||
Debt financing costs | — | — | (1,683 | ) | — | (1,683 | ) | ||||||||||||||
Net cash (used in) provided by financing activities | (526 | ) | 87,682 | (28,985 | ) | — | 58,171 | ||||||||||||||
Increase in cash | 1 | 289 | — | — | 290 | ||||||||||||||||
Cash and cash equivalents balance, beginning of period | 27 | 4,871 | — | — | 4,898 | ||||||||||||||||
Cash and cash equivalents balance, end of period | $ | 28 | $ | 5,160 | $ | — | $ | — | $ | 5,188 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | 37 | $ | (545 | ) | $ | — | $ | (508 | ) | |||||||||
Interest paid during the period | $ | — | $ | 9,309 | $ | 14,979 | $ | — | $ | 24,288 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 5,238 | $ | — | $ | — | $ | 5,238 | |||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (38,567 | ) | $ | (52,910 | ) | $ | 18,530 | $ | 34,380 | $ | (38,567 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operations: | |||||||||||||||||||||
Depreciation and amortization | — | 6,790 | 3,772 | — | 10,562 | ||||||||||||||||
Amortization of debt issue costs | — | 1,983 | 957 | — | 2,940 | ||||||||||||||||
Write-off of debt issuance costs | — | — | — | — | — | ||||||||||||||||
Gain from sale of properties | — | — | (10,604 | ) | — | (10,604 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | (1,230 | ) | — | (1,230 | ) | ||||||||||||||
Changes associated with ineffective interest rate swap | — | (1,676 | ) | — | — | (1,676 | ) | ||||||||||||||
Vacant property charges, net | — | (291 | ) | — | — | (291 | ) | ||||||||||||||
Severance charges | — | — | — | — | — | ||||||||||||||||
Gain on modification of lease agreement | — | (1,971 | ) | — | — | (1,971 | ) | ||||||||||||||
Deferred income tax benefit | — | (25 | ) | — | — | (25 | ) | ||||||||||||||
Pension expense | — | 1,774 | — | — | 1,774 | ||||||||||||||||
Share-based compensation, excluding restructuring related | — | 1,602 | 372 | — | 1,974 | ||||||||||||||||
Share-based compensation, restructuring related | — | — | — | — | — | ||||||||||||||||
Decrease in restricted cash related to the ineffective interest swap, insurance, and other | — | 987 | — | — | 987 | ||||||||||||||||
Accrued compensation and other | 167 | — | (2,104 | ) | (1,244 | ) | (3,181 | ) | |||||||||||||
Equity in earnings of subsidiaries | 34,380 | — | — | (34,380 | ) | — | |||||||||||||||
Intercompany receivable | (9,829 | ) | (9,727 | ) | — | 19,556 | — | ||||||||||||||
Intercompany payable | 9,218 | 9,094 | — | (18,312 | ) | — | |||||||||||||||
(4,631 | ) | (44,370 | ) | 9,693 | — | (39,308 | ) | ||||||||||||||
Changes in assets and liabilities: | |||||||||||||||||||||
Receivables | — | (19,670 | ) | — | — | (19,670 | ) | ||||||||||||||
Inventories | — | 2,673 | — | — | 2,673 | ||||||||||||||||
Accounts payable | 102 | 5,871 | — | — | 5,973 | ||||||||||||||||
Net cash (used in) provided by operating activities | (4,529 | ) | (55,496 | ) | 9,693 | — | (50,332 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | (54,349 | ) | 55,209 | (860 | ) | — | — | ||||||||||||||
Property, plant and equipment investments | — | (3,203 | ) | (3,330 | ) | — | (6,533 | ) | |||||||||||||
Proceeds from sale of assets | — | 504 | 17,851 | — | 18,355 | ||||||||||||||||
Net cash (used in) provided by investing activities | (54,349 | ) | 52,510 | 13,661 | — | 11,822 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | — | — | — | — | ||||||||||||||||
Repayments on revolving credit facilities | — | (478,630 | ) | — | — | (478,630 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 475,918 | — | — | 475,918 | ||||||||||||||||
Principal payments on mortgage | — | — | (42,416 | ) | — | (42,416 | ) | ||||||||||||||
Payments on capital lease obligations | — | (1,440 | ) | — | — | (1,440 | ) | ||||||||||||||
Decrease in bank overdrafts | — | (725 | ) | — | — | (725 | ) | ||||||||||||||
Decrease in restricted cash related to the mortgage | — | — | 20,604 | — | 20,604 | ||||||||||||||||
Debt financing costs | — | (1,179 | ) | (1,542 | ) | — | (2,721 | ) | |||||||||||||
Proceeds from stock offering less expenses paid | 58,521 | — | — | — | 58,521 | ||||||||||||||||
Net cash provided by (used in) financing activities | 58,521 | (6,056 | ) | (23,354 | ) | — | 29,111 | ||||||||||||||
Decrease in cash | (357 | ) | (9,042 | ) | — | — | (9,399 | ) | |||||||||||||
Cash and cash equivalents balance, beginning of period | 384 | 13,913 | — | — | 14,297 | ||||||||||||||||
Cash and cash equivalents balance, end of period | $ | 27 | $ | 4,871 | $ | — | $ | — | $ | 4,898 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | 231 | $ | (253 | ) | $ | — | $ | (22 | ) | |||||||||
Interest paid during the period | $ | — | $ | 10,783 | $ | 17,315 | $ | — | $ | 28,098 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 3,131 | $ | — | $ | — | $ | 3,131 | |||||||||||
The condensed consolidating statement of stockholders’ equity (deficit) for BlueLinx Holdings Inc. for fiscal 2011, fiscal 2012, and fiscal 2013 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | ||||||||||||||||||||
Holdings Inc. | Corporation | LLC | |||||||||||||||||||
and Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Balance, January 1, 2011 | $ | 991 | $ | 94,273 | $ | (140,314 | ) | $ | 46,041 | $ | 991 | ||||||||||
Net (loss) income | (38,567 | ) | (52,910 | ) | 18,530 | 34.38 | (38,567 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | (92 | ) | (92 | ) | — | 92 | (92 | ) | |||||||||||||
Unrealized (loss) income from pension plan, net of tax | (14,969 | ) | (14,969 | ) | — | 14,969 | (14,969 | ) | |||||||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | 519 | 519 | — | (519 | ) | 519 | |||||||||||||||
Issuance of restricted stock, net of forfeitures | 7 | — | — | — | 7 | ||||||||||||||||
Issuance of stock related to the rights offering, net of expenses | 58,521 | — | — | — | 58,521 | ||||||||||||||||
Compensation related to share-based grants | 2,158 | — | — | — | 2,158 | ||||||||||||||||
Impact of net settled shares for vested grants | (194 | ) | — | — | — | (194 | ) | ||||||||||||||
Net transactions with the Parent | — | 56,805 | (2,391 | ) | (54,414 | ) | — | ||||||||||||||
Balance, December 31, 2011 | $ | 8,374 | $ | 83,626 | $ | (124,175 | ) | $ | 40,549 | $ | 8,374 | ||||||||||
Net (loss) income | (23,027 | ) | (37,237 | ) | 18,536 | 18,701 | (23,027 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | 103 | 103 | — | (103 | ) | 103 | |||||||||||||||
Unrealized loss (income) from pension plan, net of tax | (8,245 | ) | (8,245 | ) | — | 8,245 | (8,245 | ) | |||||||||||||
Issuance of restricted stock, net of forfeitures | 19 | 19 | — | (19 | ) | 19 | |||||||||||||||
Compensation related to share-based grants | 2,730 | — | — | — | 2,730 | ||||||||||||||||
Impact of net settled shares for vested grants | (526 | ) | — | — | — | (526 | ) | ||||||||||||||
Other | (20 | ) | — | — | — | (20 | ) | ||||||||||||||
Net transactions with the Parent | — | 2,337 | (2,017 | ) | (320 | ) | — | ||||||||||||||
Balance, December 29, 2012 | $ | (20,592 | ) | $ | 40,603 | $ | (107,656 | ) | $ | 67,053 | $ | (20,592 | ) | ||||||||
Net (loss) income | (40,618 | ) | (49,205 | ) | 14,343 | 34,862 | (40,618 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | (161 | ) | (161 | ) | — | 161 | (161 | ) | |||||||||||||
Unrealized income (loss) from pension plan, net of tax | 13,910 | 13,910 | — | (13,910 | ) | 13,910 | |||||||||||||||
Issuance of restricted stock, net of forfeitures | 6 | 6 | — | (6 | ) | 6 | |||||||||||||||
Issuance of performance shares | 6 | 6 | — | (6 | ) | 6 | |||||||||||||||
Issuance of stock related to the rights offering, net of expenses | 38,613 | — | — | — | 38,613 | ||||||||||||||||
Compensation related to share-based grants | 6,117 | — | — | — | 6,117 | ||||||||||||||||
Impact of net settled shares for vested grants | (3,193 | ) | — | — | — | (3,193 | ) | ||||||||||||||
Excess tax benefits from share-based compensation arrangements | 16 | — | — | — | 16 | ||||||||||||||||
Other | (2 | ) | — | — | — | (2 | ) | ||||||||||||||
Net transactions with the Parent | — | 43,880 | (3,461 | ) | (40,419 | ) | — | ||||||||||||||
Balance, January 4, 2014 | $ | (5,898 | ) | $ | 49,039 | $ | (96,774 | ) | $ | 47,735 | $ | (5,898 | ) |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||
Jan. 04, 2014 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Revenue Recognition | ' | ||||||||
Revenue Recognition | |||||||||
We recognize revenue when the following criteria are met: persuasive evidence of an agreement exists, delivery has occurred or services have been rendered, our price to the buyer is fixed and determinable and collectability is reasonably assured. Delivery is not considered to have occurred until the customer takes title and assumes the risks and rewards of ownership. The timing of revenue recognition is largely dependent on shipping terms. For sales transactions designated as FOB (free on board) shipping point, revenue is recorded at the time of shipment. For sales transactions designated FOB destination, revenue is recorded when the product is delivered to the customer’s delivery site. | |||||||||
All revenues are recorded gross. The key indicators used to determine when and how revenue is recorded are as follows: | |||||||||
● | We are the primary obligor responsible for fulfillment and all other aspects of the customer relationship. | ||||||||
● | Title passes from BlueLinx, and we carry all risk of loss related to warehouse and third-party (“reload”) inventory and inventory shipped directly from vendors to our customers. | ||||||||
● | We are responsible for all product returns. | ||||||||
● | We control the selling price for all channels. | ||||||||
● | We select the supplier. | ||||||||
● | We bear all credit risk. | ||||||||
In addition, we provide inventory to certain customers through pre-arranged agreements on a consignment basis. Customer consigned inventory is maintained and stored by certain customers; however, ownership and risk of loss remains with us. When the inventory is sold by the customer, we recognize revenue on a gross basis. Customer consigned inventory at January 4, 2014, and December 29, 2012 was approximately $10.1 million and $10.3 million, respectively. | |||||||||
All revenues are recorded after trade allowances, cash discounts and sales returns are deducted. Cash discounts and sales returns are estimated using historical experience. Trade allowances are based on the estimated obligations and historical experience. | |||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
Cash and cash equivalents include all highly-liquid investments with maturity dates of less than three months when purchased. | |||||||||
Restricted Cash | ' | ||||||||
Restricted Cash | |||||||||
We had restricted cash of $11.7 million and $9.9 million at January 4, 2014, and December 29, 2012, respectively. Restricted cash primarily includes amounts held in escrow related to our mortgage and insurance for workers’ compensation, auto liability, and general liability. Restricted cash is included in “Other current assets” and “Other non-current assets” on the accompanying Consolidated Balance Sheets. | |||||||||
The table below provides the balances of each individual component in restricted cash as of January 4, 2014, and December 29, 2012 (in thousands): | |||||||||
At January 4, | At December 29, | ||||||||
2014 | 2012 | ||||||||
Cash in escrow: | |||||||||
Mortgage | $ | — | $ | 40 | |||||
Insurance | 7,921 | 7,906 | |||||||
Other | 3,760 | 1,965 | |||||||
Total | $ | 11,681 | $ | 9,911 | |||||
During fiscal 2013, 2012 and 2011, changes in restricted cash required under our mortgage were classified in the financing section of our Consolidated Statement of Cash Flows. On September 19, 2012, we entered into an amendment to our mortgage agreement, which provided for the immediate prepayment of approximately $11.8 million of the indebtedness under the mortgage agreement. In addition, on a quarterly basis, starting with the fourth quarter of fiscal 2012, additional funds held as collateral under the mortgage agreement were used to prepay indebtedness under the mortgage agreement, without prepayment premium, up to an aggregate additional prepayment of $10.0 million. Thereafter, any cash remaining in the collateral account under the mortgage agreement, up to an aggregate of $10.0 million, is released to the Company on the last business day of each calendar quarter through the third quarter of fiscal 2014. All funds released pursuant to these provisions may be used by the Company to pay for usual and customary operating expenses. During the period described above in which cash in the collateral account is used to either prepay indebtedness under the mortgage agreement or released to the Company, the lenders will not release any of the cash collateral to the Company for specified capital expenditures as previously provided under the mortgage agreement. | |||||||||
Concentrations of Credit Risk | ' | ||||||||
Concentrations of Credit Risk | |||||||||
Our receivables are principally from customers in the building products industry located in the United States and Canada. We believe concentration of credit risk with respect to receivables is limited due to the large number of customers comprising our customer base. None of our customers individually constitute more than 10% of fiscal 2013 sales. | |||||||||
Allowance for Doubtful Accounts and Related Reserves | ' | ||||||||
Allowance for Doubtful Accounts and Related Reserves | |||||||||
We evaluate the collectability of receivables based on numerous factors, including past transaction history with customers and their creditworthiness. We maintain an allowance for doubtful accounts for each aging category on our aged trial balance, which is aged utilizing contractual terms, based on our historical loss experience. This estimate is periodically adjusted when we become aware of specific customers’ inability to meet their financial obligations (e.g., bankruptcy filing or other evidence of liquidity problems). As we determine that specific balances ultimately will be uncollectible, we remove them from our aged trial balance. Additionally, we maintain reserves for cash discounts that we expect customers to earn as well as expected returns. At January 4, 2014, and December 29, 2012, these reserves totaled $4.4 million and $4.7 million, respectively. | |||||||||
Inventory Valuation | ' | ||||||||
Inventory Valuation | |||||||||
Inventories are carried at the lower of cost or market. The cost of all inventories is determined by the moving average cost method. We have included all material charges directly or indirectly incurred in bringing inventory to its existing condition and location. We evaluate our inventory value at the end of each quarter to ensure that first quality, actively moving inventory, when viewed by category, is carried at the lower of cost or market. During the second quarter of fiscal 2013, we recorded in “Cost of sales” in the Consolidated Statements of Operations and Comprehensive Loss a lower of cost or market charge of $3.8 million related to declines in prices for our lumber, oriented strand board (“OSB”) and plywood inventory. As we sold through inventory impacted by this reserve during the third quarter of fiscal 2013 and prices of lumber, OSB and plywood stabilized, the reserve was reduced to zero as of January 4, 2014. | |||||||||
Additionally, we maintain a reserve for the estimated value impairment associated with damaged, excess and obsolete inventory. The damaged, excess and obsolete reserve generally includes discontinued items or inventory that has turn days in excess of 270 days, excluding new items during their product launch. At January 4, 2014, and December 29, 2012, our damaged, excess and obsolete inventory reserves were $1.8 million and $1.1 million, respectively. During the second quarter of fiscal 2013, approximately $1.0 million was recorded in “Cost of sales” in the Consolidated Statements of Operations and Comprehensive Loss for damaged, excess and obsolete inventory related to the closure of five distribution centers. There was $0.3 million of this reserve remaining as of January 4, 2014, related to this inventory. We discuss the closure or ceasing of operations of these distribution centers, which is included in our 2013 restructuring plan (the “2013 restructuring”), further in “Note 3 – Restructuring Charges”. | |||||||||
Consignment Inventory | ' | ||||||||
Consignment Inventory | |||||||||
We enter into consignment inventory agreements with vendors. This vendor consignment inventory relationship allows us to obtain and store vendor inventory at our warehouses and third-party (“reload”) facilities; however, ownership and risk of loss generally remains with the vendor. When the inventory is sold, we are required to pay the vendor, and we simultaneously take and transfer ownership from the vendor to the customer. | |||||||||
Consideration Received from Vendors and Paid to Customers | ' | ||||||||
Consideration Received from Vendors and Paid to Customers | |||||||||
Each year, we enter into agreements with many of our vendors providing for inventory purchase rebates, generally based on achievement of specified volume purchasing levels. We also receive rebates related to price protection and various marketing allowances that are common industry practice. We accrue for the receipt of vendor rebates based on purchases, and also reduce inventory to reflect the net acquisition cost (purchase price less expected purchase rebates). At January 4, 2014, and December 29, 2012, the vendor rebate receivable totaled $7.6 million and $9.0 million, respectively. Adjustments to earnings resulting from revisions to rebate estimates have been immaterial. | |||||||||
In addition, we enter into agreements with many of our customers to offer customer rebates, generally based on achievement of specified volume sales levels and various marketing allowances that are common industry practice. We accrue for the payment of customer rebates based on sales to the customer, and also reduce sales to reflect the net sales (sales price less expected customer rebates). At January 4, 2014, and December 29, 2012, the customer rebate payable totaled $6.3 million and $5.5 million, respectively. Adjustments to earnings resulting from revisions to rebate estimates have been immaterial. | |||||||||
Shipping and Handling | ' | ||||||||
Shipping and Handling | |||||||||
Amounts billed to customers in sales transactions related to shipping and handling are classified as revenue. Shipping and handling costs included in “Selling, general, and administrative” expenses were $99.7 million, $91.2 million, and $87.9 million for fiscal 2013, fiscal 2012, and fiscal 2011, respectively. | |||||||||
Advertising Costs | ' | ||||||||
Advertising Costs | |||||||||
Advertising costs are expensed as incurred. Advertising expenses of $1.2 million, $1.1 million, and $1.9 million were included in “Selling, general and administrative” expenses for fiscal 2013, fiscal 2012 and fiscal 2011, respectively. | |||||||||
Loss per Common Share | ' | ||||||||
Loss per Common Share | |||||||||
We calculate our basic loss per share by dividing net loss by the weighted average number of common shares and participating securities outstanding for the period. Restricted stock granted by us to certain management employees and non-employee directors participate in dividends on the same basis as common shares and are non-forfeitable by the holder. The unvested restricted stock contains non-forfeitable rights to dividends or dividend equivalents. As a result, these share-based awards meet the definition of a participating security and are included in the weighted average number of common shares outstanding, pursuant to the two-class method, for the periods that present net income. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that would otherwise have been available to common stockholders. | |||||||||
Given that the restricted stockholders do not have a contractual obligation to participate in the losses and the inclusion of such unvested restricted shares in our basic and dilutive per share calculations would be anti-dilutive, we have not included these amounts in our weighted average number of common shares outstanding for periods in which we report a net loss. Therefore, we have not included 1,618,283, 3,554,738 and 2,361,424 of unvested restricted shares that had the right to participate in dividends in our basic and dilutive calculations for fiscal 2013, fiscal 2012, and fiscal 2011, respectively, because all periods reflected net losses. | |||||||||
Except when the effect would be anti-dilutive, the diluted earnings per share calculation includes the dilutive effect of the assumed exercise of stock options and performance shares using the treasury stock method. During fiscal 2013, we granted 2,969,424 performance shares under our 2006 Long-Term Equity Incentive Plan (the “2006 Plan”) in which shares are issuable upon satisfaction of certain performance criteria. As of January 4, 2014, we assumed that 2,192,868 of these performance shares will vest, net of forfeitures and vestings to date, based on our assumption that meeting the performance criteria is probable. The performance shares are not considered participating shares under the two-class method because they do not receive any non-transferable rights to dividends. The 2,192,868 performance shares we assume will vest were not included in the computation of diluted earnings per share calculation because they were antidilutive. | |||||||||
Except when the effect would be anti-dilutive, the diluted earnings per share calculation includes the dilutive effect of the assumed exercise of stock options and performance shares using the treasury stock method. As we experienced losses in all periods, basic and diluted loss per share are computed by dividing net loss by the weighted average number of common shares outstanding for the period. For fiscal 2013, fiscal 2012, and fiscal 2011, we excluded 4,595,650, 4,460,054 and 3,266,740 unvested share-based awards, respectively, from the diluted earnings per share calculation because they were anti-dilutive. The unvested share-based awards total excludes the assumed exercise of unexpired stock options. | |||||||||
On March 27, 2013, we completed a rights offering of common stock to our stockholders (the “2013 Rights Offering”) at a subscription price that was lower than the market price of our common stock. The 2013 Rights Offering was deemed to contain a bonus element that is similar to a stock dividend, requiring us to adjust the weighted average number of common shares used to calculate basic and diluted earnings per share in prior periods retrospectively by a factor of 1.0894. Weighted average shares for fiscal 2012 prior to giving effect to the 2013 Rights Offering were 60,079,528 and 65,451,808 after application of the adjustment factor above. Weighted average shares for fiscal 2011 prior to giving effect to the 2013 Rights Offering were 43,187,315 and 47,049,102 after application of the adjustment factor above. | |||||||||
Common Stock Dividends | ' | ||||||||
Common Stock Dividends | |||||||||
On December 5, 2007, our Board of Directors suspended the payment of dividends on our common stock for an indefinite period of time. Resumption of the payment of dividends will depend on, among other things, business conditions in the housing industry, our results of operations, cash requirements, financial condition, contractual restrictions, provisions of applicable law and other factors that our Board of Directors may deem relevant. Accordingly, we may not be able to resume the payment of dividends at the same quarterly rate in the future, if at all. | |||||||||
Property and Equipment | ' | ||||||||
Property and Equipment | |||||||||
Property and equipment are recorded at cost. Lease obligations for which we assume or retain substantially all the property rights and risks of ownership are capitalized. Replacements of major units of property are capitalized and the replaced properties are retired. Replacements of minor components of property and repair and maintenance costs are charged to expense as incurred. | |||||||||
Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Useful lives are 2 to 18 years for land improvements, 5 to 40 years for buildings, and 3 to 7 years for machinery and equipment, which includes mobile equipment. Upon retirement or disposition of assets, cost and accumulated depreciation are removed from the related accounts and any gain or loss is included in income. Depreciation expense totaled $9.1 million for fiscal 2013, $8.4 million for fiscal 2012 and $10.4 million for fiscal 2011. | |||||||||
During fiscal 2013, we sold certain properties with carrying values of $3.9 million, which resulted in gains totaling $5.2 million. During fiscal 2012, we sold certain properties with carrying values of $7.4 million, which resulted in gains totaling $9.9 million. These gains are recorded in “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. All of these properties in fiscal 2013 and fiscal 2012 were classified as held for sale. See Note 4 for discussion of the held for sale properties sold during the year. | |||||||||
Impairment of Long-Lived Assets | ' | ||||||||
Impairment of Long-Lived Assets | |||||||||
Long-lived assets, including property and equipment and intangible assets with definite useful lives, are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. | |||||||||
We consider whether there were indicators of potential impairment on a quarterly basis. Indicators of impairment include current period losses combined with a history of losses, management’s decision to exit a facility, reductions in the fair market value of real properties and changes in other circumstances that indicate the carrying amount of an asset may not be recoverable. | |||||||||
Our evaluation of long-lived assets is performed at the lowest level of identifiable cash flows, which is generally the individual distribution facility. In the event of indicators of impairment, the assets of the distribution facility are evaluated by comparing the facility’s undiscounted cash flows over the estimated useful life of the asset, which ranges between 5-40 years, to its carrying value. If the carrying value is greater than the undiscounted cash flows, an impairment loss is recognized for the difference between the carrying value of the asset and the estimated fair market value. Impairment losses are recorded as a component of “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Our estimate of undiscounted cash flows is subject to assumptions that affect estimated operating income at a distribution facility level. These assumptions are related to future sales, margin growth rates, economic conditions, market competition and inflation. In the event that undiscounted cash flows do not exceed the carrying value of a facility, our estimates of fair market value are generally based on market appraisals and our experience with related market transactions. We use a two year average of cash flows based on 2013 EBITDA and 2014 projected EBITDA, which includes a growth factor assumption, to estimate undiscounted cash flows. These assumptions used to determine impairment are considered to be level 3 measurements in the fair value hierarchy as defined in Note 13. | |||||||||
While operating results have declined during the past several years as they are closely tied to U.S. housing starts, during fiscal 2012 we began to see signs of a housing recovery, and our results have improved; however, our sales are still below normal levels. To the extent that reductions in volume and operating income have resulted in impairment indicators, in all cases our carrying values continue to be less than our projected undiscounted cash flows. As such, we have not identified significant known trends impacting the fair value of long-lived assets to an extent that would indicate impairment. | |||||||||
During the first quarter of fiscal 2011 our Newtown, CT facility was damaged due to severe winter weather. As a result of the damage to the facility and its contents we received approximately $5.8 million in proceeds from the insurance company comprised of $2.2 million related to the damaged building, $2.4 million related to damaged and destroyed inventory and $1.2 million related to the recovery of additional expenses incurred as a result of the damage. Cash received related to the damaged building was classified as an investing cash inflow in our Consolidated Statements of Cash Flows and used to reduce the principal of our mortgage. All other cash inflows related to the insurance settlement were classified as operating cash flows in our Consolidated Statements of Cash Flows. The majority of the remaining cash inflows were used to fund costs incurred related to the Newtown loss. We recognized a $1.4 million gain in fiscal 2011 of which $1.2 million related to the damaged building and $0.2 million related to the recovery of gross margin on the inventory. We recorded the gain at the time that the recovery of the minimum expected proceeds under our insurance policy became probable and was estimable. This gain was recorded in “Selling, general and administrative expenses” in our Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Share-Based Compensation | ' | ||||||||
Share-Based Compensation | |||||||||
We recognize compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. This expense is recorded on a straight-line basis over the requisite service period of the entire award, unless the awards are subject to market or performance conditions, in which case we recognize compensation expense over the requisite service period of each separate vesting tranche to the extent market and performance conditions are considered probable. The calculation of fair value related to share-based compensation is subject to certain assumptions discussed in more detail in Note 7. Management updates such estimates when circumstances warrant. All compensation expense related to our share-based payment awards is recorded in “Selling, general and administrative” expense in the Consolidated Statements of Operations and Comprehensive Loss. | |||||||||
Income Taxes | ' | ||||||||
Income Taxes | |||||||||
Deferred income taxes are provided using the liability method. Accordingly, deferred income taxes are recognized for differences between the income tax and financial reporting bases of our assets and liabilities based on enacted tax laws and tax rates applicable to the periods in which the differences are expected to affect taxable income. We recognize a valuation allowance, when based on the weight of all available evidence, we believe it is more likely than not that some or all of our deferred tax assets will not be realized. In evaluating our ability to recover our deferred income tax assets, we considered available positive and negative evidence, including our past operating results, our ability to carryback losses against prior taxable income, the existence of cumulative losses in the most recent years, our forecast of future taxable income and an excess of appreciated assets over the tax basis of our net assets. In estimating future taxable income, we developed assumptions including the amount of future state and federal pretax operating and non-operating income, the reversal of temporary differences and the implementation of feasible and prudent tax planning strategies. These assumptions required significant judgment about the forecasts of future taxable income. When we considered all of the available positive and negative evidence, when based on the weight of all available evidence, we believe it is more likely than not that some or all of our deferred tax assets will not be realized. Such amounts are disclosed in Note 5 of the Notes to the Consolidated Financial Statements. | |||||||||
If the realization of deferred tax assets in the future is considered more likely than not, a reduction to the valuation allowance related to the deferred tax assets would increase net income in the period such determination is made. The amount of the deferred tax asset considered realizable is based on significant estimates, and it is possible that changes in these estimates could materially affect the financial condition and results of operations. Our effective tax rate may vary from period to period based on changes in estimated taxable income or loss; changes to the valuation allowance; changes to federal or state tax laws; and as a result of acquisitions. | |||||||||
We generally believe that the positions taken on previously filed tax returns are more likely than not to be sustained by the taxing authorities. We have recorded income tax and related interest liabilities where we believe our position may not be sustained. Such amounts are disclosed in Note 5 of the Notes to the Consolidated Financial Statements. | |||||||||
Foreign Currency Translation | ' | ||||||||
Foreign Currency Translation | |||||||||
The functional currency for our Canadian operations is the Canadian dollar. The translation of the applicable currencies into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted average exchange rate during the period. Any related translation adjustments are recorded directly in stockholders’ equity. Foreign currency transaction gains and losses are reflected in the Consolidated Statements of Operations and Comprehensive Loss. Accumulated other comprehensive loss at January 4, 2014, and December 29, 2012 included the accumulated gain from foreign currency translation (net of tax) of $1.6 million and $1.8 million, respectively. | |||||||||
Compensated Absences | ' | ||||||||
Compensated Absences | |||||||||
We accrue for the costs of compensated absences to the extent that the employee’s right to receive payment relates to service already rendered, the obligation vests or accumulates, payment is probable and the amount can be reasonably estimated. | |||||||||
Use of Estimates | ' | ||||||||
Use of Estimates | |||||||||
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and such differences could be material. | |||||||||
Reclassifications | ' | ||||||||
Reclassifications | |||||||||
During fiscal 2012, we classified certain amounts, which had historically been presented as “Property, plant and equipment investments” in the “Cash flows from investing activities” section of the Consolidated Statements of Cash Flows to “Other” changes in the “Cash flows from operating activities” section of the Consolidated Statements of Cash Flows. To conform the historical presentation to the current and future presentation, we reclassified similar items in prior periods from “Net cash (used in) provided by investing activities” to “Net cash used in operating activities” in our Consolidated Statements of Cash Flows. The presentation of these same items during fiscal 2013 is consistent with the adjusted presentation in fiscal 2012 and will be going forward. | |||||||||
New Accounting Standards | ' | ||||||||
New Accounting Standards | |||||||||
In the first quarter of fiscal 2013, the Financial Accounting Standards Board (the “FASB”) issued an amendment to previously issued guidance which requires companies to report, in one place, information about reclassifications out of accumulated other comprehensive income (“AOCI”). The update also requires companies to present reclassifications by component when reporting changes in AOCI balances. For significant items reclassified out of AOCI to net income in their entirety in the period, companies must report the effect of the reclassifications on the respective line items in the statement where net income is presented. In certain circumstances, this can be done on the face of that statement. Otherwise, it must be presented in the notes. For items not reclassified to net income in their entirety in the period, companies must cross-reference in a note to other required disclosures. The amendments are effective for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. We adopted this guidance during the first quarter of fiscal 2013; refer to “Note 17 – Accumulated Other Comprehensive Loss” for the required disclosures. | |||||||||
There were no other accounting pronouncements adopted during fiscal 2013 that had a material impact on our financial statements. |
Basis_of_Presentation_and_Back1
Basis of Presentation and Background (Tables) | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||
Schedule of net sales by product category | ' | ||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(Dollars in millions) | |||||||||||||
Sales by category | |||||||||||||
Structural products | $ | 968 | $ | 806 | $ | 705 | |||||||
Specialty products | 1,200 | 1,114 | 1,068 | ||||||||||
Unallocated allowances and adjustments | (16 | ) | (12 | ) | (18 | ) | |||||||
Total sales | $ | 2,152 | $ | 1,908 | $ | 1,755 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Jan. 04, 2014 | |||||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||||
Schedule of components of restricted cash | ' | ||||||||
At January 4, | At December 29, | ||||||||
2014 | 2012 | ||||||||
Cash in escrow: | |||||||||
Mortgage | $ | — | $ | 40 | |||||
Insurance | 7,921 | 7,906 | |||||||
Other | 3,760 | 1,965 | |||||||
Total | $ | 11,681 | $ | 9,911 |
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Restructuring Charges [Abstract] | ' | ||||||||||||
Schedule of summary of the balances of accrued facility lease obligation reserve and the changes in the accrual | ' | ||||||||||||
Reduction in | Facility Lease | Total | |||||||||||
Force | Obligation | ||||||||||||
Activities | |||||||||||||
Balance at December 29, 2012 | $ | — | $ | — | $ | — | |||||||
Charges | 5,709 | 1,398 | 7,107 | ||||||||||
Assumption changes | (102 | ) | (77 | ) | (179 | ) | |||||||
Payments | (3,057 | ) | (402 | ) | (3,459 | ) | |||||||
Accretion of Liability | — | 9 | 9 | ||||||||||
Balance at January 4, 2014 | $ | 2,550 | $ | 928 | $ | 3,478 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Schedule of (benefit from) provision for income taxes | ' | ||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Federal income taxes: | |||||||||||||
Current | $ | (492 | ) | $ | 16 | $ | (89 | ) | |||||
Deferred | (7,385 | ) | — | — | |||||||||
State income taxes: | |||||||||||||
Current | 192 | 334 | 759 | ||||||||||
Deferred | (1,343 | ) | — | — | |||||||||
Foreign income taxes: | |||||||||||||
Current | 19 | 56 | 317 | ||||||||||
Deferred | (4 | ) | (20 | ) | (25 | ) | |||||||
(Benefit from) provision for income taxes | $ | (9,013 | ) | $ | 386 | $ | 962 | ||||||
Schedule of provision for (benefit from) income taxes is reconciled to the federal statutory | ' | ||||||||||||
Fiscal Year | Fiscal Year | Fiscal Year | |||||||||||
Ended | Ended | Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Benefit from income taxes computed at the federal statutory tax rate | $ | (17,371 | ) | $ | (7,924 | ) | $ | (13,162 | ) | ||||
Benefit from state income taxes, net of federal benefit | (1,991 | ) | (866 | ) | (1,296 | ) | |||||||
Valuation allowance change | 19,445 | 8,820 | 14,498 | ||||||||||
Nondeductible items | 270 | 484 | 806 | ||||||||||
Benefit from allocation of income taxes to other comprehensive income (loss) | (8,726 | ) | — | — | |||||||||
Other | (640 | ) | (128 | ) | 116 | ||||||||
(Benefit from) provision for income taxes | $ | (9,013 | ) | $ | 386 | $ | 962 | ||||||
Schedule of net deferred income tax assets (liabilities) | ' | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Deferred income tax assets: | |||||||||||||
Inventory reserves | $ | 2,832 | $ | 2,816 | |||||||||
Compensation-related accruals | 4,893 | 5,838 | |||||||||||
Accruals and reserves | 1,030 | 92 | |||||||||||
Accounts receivable | 1,291 | 1,327 | |||||||||||
Restructuring costs | 488 | 118 | |||||||||||
Pension | 8,245 | 16,936 | |||||||||||
Benefit from NOL carryovers(1) | 70,169 | 52,088 | |||||||||||
Other | 703 | 695 | |||||||||||
Total gross deferred income tax assets | 89,651 | 79,910 | |||||||||||
Less: Valuation allowances | (88,279 | ) | (78,050 | ) | |||||||||
Total net deferred income tax assets | $ | 1,372 | $ | 1,860 | |||||||||
Deferred income tax liabilities: | |||||||||||||
Intangible assets | — | (60 | ) | ||||||||||
Property and equipment | (365 | ) | (1,065 | ) | |||||||||
Other | (1,006 | ) | (739 | ) | |||||||||
Total deferred income tax liabilities | (1,371 | ) | (1,864 | ) | |||||||||
Deferred income tax assets (liabilities), net | $ | 1 | $ | (4 | ) | ||||||||
-1 | Our federal NOL carryovers are $168.1 million and will expire in 15 to 20 years. Our state NOL carryovers are $232.2 million and will expire in 1 to 20 years. | ||||||||||||
Schedule of activity in deferred tax asset valuation allowance | ' | ||||||||||||
Fiscal Year | Fiscal Year | ||||||||||||
Ended | Ended | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
Balance at beginning of the year | $ | 78,050 | $ | 66,793 | |||||||||
Valuation allowance removed for taxes related to: | |||||||||||||
Income before income taxes | — | — | |||||||||||
Valuation allowance provided for taxes related to: | |||||||||||||
Loss before income taxes | 10,229 | 11,257 | |||||||||||
Effect of a change in judgment | — | — | |||||||||||
Balance at end of the year | $ | 88,279 | $ | 78,050 | |||||||||
Schedule of activity related to unrecognized tax benefits | ' | ||||||||||||
(In thousands) | |||||||||||||
Balance at January 1, 2011 | $ | 677 | |||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | 196 | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Settlements | — | ||||||||||||
Balance at December 31, 2011 | 873 | ||||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | — | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Reductions due to lapse of applicable statue of limitations | (47 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance at December 29, 2012 | 826 | ||||||||||||
Increases related to current year tax positions | — | ||||||||||||
Additions for tax positions in prior years | — | ||||||||||||
Reductions for tax positions in prior years | — | ||||||||||||
Reductions due to lapse of applicable statute of limitations | (567 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance at January 4, 2014 | $ | 259 | |||||||||||
Receivables_Tables
Receivables (Tables) | 12 Months Ended | ||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Schedule of activity in receivables related reserve accounts | ' | ||||||||||||||||
Beginning | Expense/ | Write offs and | Ending | ||||||||||||||
Balance | (Income) | Other, Net | Balance | ||||||||||||||
(In thousands) | |||||||||||||||||
Fiscal 2011 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 5,715 | $ | 2,576 | $ | (3,156 | ) | $ | 5,135 | ||||||||
Fiscal 2012 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 5,135 | $ | 2,034 | $ | (2,449 | ) | $ | 4,720 | ||||||||
Fiscal 2013 | |||||||||||||||||
Allowance for doubtful accounts and related reserves | $ | 4,720 | $ | 1,581 | $ | (1,942 | ) | $ | 4,359 |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Jan. 04, 2014 | ||||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||||||||||||
Schedule of outstanding employee stock options | ' | |||||||||||||||||||||||||
Shares | Weighted | |||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||
Exercise | ||||||||||||||||||||||||||
Price | ||||||||||||||||||||||||||
Options outstanding at January 1, 2011 | 924,815 | $ | 6.31 | |||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | (19,499 | ) | 12.53 | |||||||||||||||||||||||
Options outstanding at December 31, 2011 | 905,316 | 6.18 | ||||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | — | — | ||||||||||||||||||||||||
Options outstanding at December 29, 2012 | 905,316 | 6.18 | ||||||||||||||||||||||||
Options granted | — | — | ||||||||||||||||||||||||
Options exercised | — | — | ||||||||||||||||||||||||
Options forfeited | — | — | ||||||||||||||||||||||||
Options expired | (120,816 | ) | 13.58 | |||||||||||||||||||||||
Options outstanding at January 4, 2014 | 784,500 | 5.05 | ||||||||||||||||||||||||
Options exercisable at January 4, 2014 | 784,500 | $ | 5.05 | |||||||||||||||||||||||
Schedule of share-based compensation, shares authorized under stock option plans, by exercise price range | ' | |||||||||||||||||||||||||
Outstanding | Exercisable | |||||||||||||||||||||||||
Weighted | Weighted | |||||||||||||||||||||||||
Price Range | Average | Remaining | Average | Remaining | ||||||||||||||||||||||
Number of | Exercise | Contractual Life | Number of | Exercise | Contractual Life | |||||||||||||||||||||
Options | Price | (in Years) | Options | Price | (in Years) | |||||||||||||||||||||
$4.66 | 750,000 | $ | 4.66 | 4.2 | 750,000 | $ | 4.66 | 4.2 | ||||||||||||||||||
$11.40-$14.01 | 34,500 | $ | 13.25 | 2.3 | 34,500 | $ | 13.25 | 2.3 | ||||||||||||||||||
784,500 | 4.1 | 784,500 | 4.1 | |||||||||||||||||||||||
Schedule of activity for performance shares, restricted stock awards and restricted stock unit awards | ' | |||||||||||||||||||||||||
Restricted Stock | Performance | Restricted | ||||||||||||||||||||||||
Shares | Stock Units | |||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||
Number of | Average Fair | Number of | Number of | |||||||||||||||||||||||
Awards | Value | Awards | Awards (1) | |||||||||||||||||||||||
Outstanding at January 1, 2011(2) | 1,914,288 | 2.67 | 240,835 | 127,950 | ||||||||||||||||||||||
Granted | 819,240 | 3.14 | — | — | ||||||||||||||||||||||
Vested(2) | (364,303 | ) | 6.16 | (240,835 | ) | (63,200 | ) | |||||||||||||||||||
Forfeited | (7,801 | ) | 3.26 | — | (15,400 | ) | ||||||||||||||||||||
Outstanding at December 31, 2011 | 2,361,424 | 3.22 | — | 49,350 | ||||||||||||||||||||||
Granted | 2,067,835 | 1.52 | — | — | ||||||||||||||||||||||
Vested | (681,484 | ) | 3.39 | — | (48,250 | ) | ||||||||||||||||||||
Forfeited | (193,037 | ) | 2.76 | — | (1,100 | ) | ||||||||||||||||||||
Outstanding at December 29, 2012 | 3,554,738 | 1.22 | — | — | ||||||||||||||||||||||
Granted(3) | 1,202,185 | 3.15 | 2,969,424 | — | ||||||||||||||||||||||
Vested(3) | (2,587,452 | ) | 2.48 | (627,320 | ) | — | ||||||||||||||||||||
Forfeited(3) | (551,188 | ) | 2.28 | (149,236 | ) | — | ||||||||||||||||||||
Outstanding at January 4, 2014(3) | 1,618,283 | $ | 2.50 | 2,192,868 | — | |||||||||||||||||||||
-1 | The restricted stock units were settled in cash. The fair value of these awards was marked-to-market each reporting period through the date of settlement. During fiscal 2012 and fiscal 2011, certain restricted stock units vested and approximately $0.1 million and $0.2 million, respectively, was paid out to settle these awards. | |||||||||||||||||||||||||
-2 | During fiscal 2011 certain performance shares vested and approximately $0.9 million was paid out to settle these awards. The fair value of these shares was marked to market each reporting period through the settlement date. | |||||||||||||||||||||||||
-3 | The performance shares granted in 2013 will be settled in shares of common stock of the Company. The weighted average fair value for performance shares granted, vested, and forfeited was $2.95, $2.36, and $3.13, respectively. The weighted average fair value for performance shares outstanding as of January 4, 2014 is $2.55. | |||||||||||||||||||||||||
Employee_Benefits_Tables
Employee Benefits (Tables) | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | |||||||||||||
Employee Benefits [Abstract] | ' | ||||||||||||
Schedule of changes in projected benefit obligations and change in plan assets | ' | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Change in projected benefit obligation: | |||||||||||||
Projected benefit obligation at beginning of period | $ | 114,330 | $ | 99,425 | |||||||||
Service cost | 2,193 | 1,878 | |||||||||||
Interest cost | 4,750 | 4,885 | |||||||||||
Actuarial (gain) loss | (10,710 | ) | 12,183 | ||||||||||
Curtailment | (910 | ) | — | ||||||||||
Benefits paid | (4,729 | ) | (4,041 | ) | |||||||||
Projected benefit obligation at end of period | 104,924 | 114,330 | |||||||||||
Change in plan assets: | |||||||||||||
Fair value of assets at beginning of period | 67,760 | 63,896 | |||||||||||
Actual return on plan assets | 13,536 | 6,758 | |||||||||||
Employer contributions | 472 | 1,147 | |||||||||||
Benefits paid | (4,729 | ) | (4,041 | ) | |||||||||
Fair value of assets at end of period | 77,039 | 67,760 | |||||||||||
Net (unfunded) status of plan | $ | (27,885 | ) | $ | (46,570 | ) | |||||||
Schedule of amounts recognized on consolidated balance sheets | ' | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
(In thousands) | |||||||||||||
Unfunded status | $ | (27,885 | ) | $ | (46,570 | ) | |||||||
Unrecognized prior service cost | 1 | 2 | |||||||||||
Unrecognized actuarial loss | 14,656 | 37,459 | |||||||||||
Net amount recognized | $ | (13,228 | ) | $ | (9,109 | ) | |||||||
Amounts recognized on the balance sheet consist of: | |||||||||||||
Accrued pension liability | (27,885 | ) | (46,570 | ) | |||||||||
Accumulated other comprehensive loss (pre-tax) | 14,657 | 37,461 | |||||||||||
Net amount recognized | $ | (13,228 | ) | $ | (9,109 | ) | |||||||
Schedule of net periodic pension cost for pension plans | ' | ||||||||||||
Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | |||||||||||
January 4, | December 29, | December 31, | |||||||||||
2014 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Service cost | $ | 2,193 | $ | 1,878 | $ | 2,091 | |||||||
Interest cost on projected benefit obligation | 4,750 | 4,885 | 4,609 | ||||||||||
Expected return on plan assets | (5,225 | ) | (4,897 | ) | (5,505 | ) | |||||||
Amortization of unrecognized loss | 2,873 | 2,077 | 579 | ||||||||||
Amortization of unrecognized prior service cost | — | — | — | ||||||||||
Net periodic pension cost | $ | 4,591 | $ | 3,943 | $ | 1,774 | |||||||
Schedule of assumptions used to determine the projected benefit obligation | ' | ||||||||||||
January 4, | December 29, | ||||||||||||
2014 | 2012 | ||||||||||||
Projected benefit obligation: | |||||||||||||
Discount rate | 5 | % | 4.24 | % | |||||||||
Average rate of increase in future compensation levels | Graded 5.5%-2.5 | % | 3 | % | |||||||||
Net periodic pension cost | |||||||||||||
Discount rate | 4.24 | % | 5.02 | % | |||||||||
Average rate of increase in future compensation levels | 3 | % | 3 | % | |||||||||
Expected long-term rate of return on plan assets | 7.85 | % | 7.85 | % | |||||||||
Schedule of percentage of fair value of total assets by asset category | ' | ||||||||||||
Asset Category | January 4, | December 29, | |||||||||||
2014 | 2012 | ||||||||||||
Equity securities — domestic | 55 | % | 56 | % | |||||||||
Equity securities — international | 16 | % | 9 | % | |||||||||
Fixed income | 24 | % | 31 | % | |||||||||
Other | 5 | % | 4 | % | |||||||||
Total | 100 | % | 100 | % | |||||||||
Schedule of fair value of plan assets by asset category | ' | ||||||||||||
Asset Category | Level 1 | ||||||||||||
Equity securities — domestic | $ | 42,710 | |||||||||||
Equity securities — international | 12,067 | ||||||||||||
Fixed income | 18,836 | ||||||||||||
Other | 3,426 | ||||||||||||
Total | $ | 77,039 | |||||||||||
Asset Category | Level 1 | ||||||||||||
Equity securities — domestic | $ | 37,623 | |||||||||||
Equity securities — international | 6,304 | ||||||||||||
Fixed income | 20,848 | ||||||||||||
Other | 2,985 | ||||||||||||
Total | $ | 67,760 | |||||||||||
Schedule of estimated future benefit payments | ' | ||||||||||||
Fiscal Year Ending | (In thousands) | ||||||||||||
3-Jan-15 | 4,998 | ||||||||||||
January 2, 2016 | 5,332 | ||||||||||||
December 31, 2016 | 5,641 | ||||||||||||
December 30, 2017 | 5,914 | ||||||||||||
December 29, 2018 | 6,206 | ||||||||||||
Thereafter | 34,372 | ||||||||||||
Inventory_Reserve_Accounts_Tab
Inventory Reserve Accounts (Tables) | 12 Months Ended | ||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||
Inventory Reserve Accounts [Abstract] | ' | ||||||||||||||||
Schedule of inventory reserve accounts | ' | ||||||||||||||||
Beginning | Expense | Write-offs and | Ending | ||||||||||||||
Balance | Other, net | Balance | |||||||||||||||
Fiscal 2011 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,670 | $ | 2,309 | $ | (2,487 | ) | $ | 1,492 | ||||||||
Lower of cost or market reserve | $ | — | $ | — | $ | — | $ | — | |||||||||
Fiscal 2012 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,492 | $ | 3,625 | $ | (3,991 | ) | $ | 1,126 | ||||||||
Lower of cost or market reserve | $ | — | $ | — | $ | — | $ | — | |||||||||
Fiscal 2013 | |||||||||||||||||
Obsolescence/damaged inventory reserve | $ | 1,126 | $ | 4,783 | $ | (4,111 | ) | $ | 1,798 | ||||||||
Lower of cost or market reserve | $ | — | $ | 3,843 | $ | (3,843 | ) | $ | — | ||||||||
Mortgage_Tables
Mortgage (Tables) | 12 Months Ended | ||||
Jan. 04, 2014 | |||||
Mortgage Disclosure [Abstract] | ' | ||||
Schedule of mortgage outstanding principal balance | ' | ||||
2014 | $ | 2,761 | |||
2015 | 2,744 | ||||
2016 | 181,438 | ||||
2017 | — | ||||
2018 | — | ||||
Thereafter | — | ||||
Total | $ | 186,943 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Jan. 04, 2014 | |||||||||
Commitments and Contingencies [Abstract] | ' | ||||||||
Schedule of total commitments under long-term, non-cancelable operating leases | ' | ||||||||
2014 | $ | 4,391 | |||||||
2015 | 3,968 | ||||||||
2016 | 4,036 | ||||||||
2017 | 4,060 | ||||||||
2018 | 3,498 | ||||||||
Thereafter | 10,060 | ||||||||
Total | $ | 30,013 | |||||||
Schedule of commitments under long-term, non-cancelable capital leases | ' | ||||||||
Principal | Interest | ||||||||
2014 | $ | 1,753 | $ | 509 | |||||
2015 | 1,847 | 399 | |||||||
2016 | 1,746 | 273 | |||||||
2017 | 1,342 | 186 | |||||||
2018 | 1,406 | 95 | |||||||
Thereafter | 604 | 20 | |||||||
Total | $ | 8,698 | $ | 1,482 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||||||||
Jan. 04, 2014 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||
Schedule of changes in accumulated balances for each component of other comprehensive income (loss) | ' | |||||||||||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2013 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,797 | $ | (32,051 | ) | $ | 212 | $ | (30,042 | ) | ||||||||||||
Other comprehensive loss (income) before reclassification, net of tax | (161 | ) | — | — | (161 | ) | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax | — | 13,910 | — | 13,910 | ||||||||||||||||||
Current-period other comprehensive (loss) income, net of tax | (161 | ) | 13,910 | — | 13,749 | |||||||||||||||||
Ending balance, net of tax | $ | 1,636 | $ | (18,141 | ) | $ | 212 | $ | (16,293 | ) | ||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2012 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,694 | $ | (23,806 | ) | $ | 212 | $ | (21,900 | ) | ||||||||||||
Current-period other comprehensive income (loss) net of tax | 103 | (8,245 | ) | — | (8,142 | ) | ||||||||||||||||
Ending balance, net of tax | $ | 1,797 | $ | (32,051 | ) | $ | 212 | $ | (30,042 | ) | ||||||||||||
The changes in accumulated balances for each component of other comprehensive income (loss) for fiscal 2011 were as follows (in thousands): | ||||||||||||||||||||||
Foreign | Defined | Other, net of tax | Total | |||||||||||||||||||
currency, net | benefit pension | |||||||||||||||||||||
of tax | plan, net of tax | |||||||||||||||||||||
Beginning balance | $ | 1,786 | $ | (8,837 | ) | $ | (307 | ) | $ | (7,358 | ) | |||||||||||
Current-period other comprehensive (loss) income, net of tax | (92 | ) | (14,969 | ) | 519 | (14,542 | ) | |||||||||||||||
Ending balance, net of tax | $ | 1,694 | $ | (23,806 | ) | $ | 212 | $ | (21,900 | ) | ||||||||||||
Schedule of reclassifications out of accumulated other comprehensive loss | ' | |||||||||||||||||||||
Amount reclassified from | Affected line item in the | |||||||||||||||||||||
accumulated other | statement where net | |||||||||||||||||||||
Details about accumulated other comprehensive | comprehensive loss | income is presented | ||||||||||||||||||||
loss components | ||||||||||||||||||||||
Amortization of defined benefit pension items: | ||||||||||||||||||||||
Actuarial gain | $ | 22,804 | Total before tax (1) | |||||||||||||||||||
Tax impact | 8,894 | Tax impact (2) | ||||||||||||||||||||
Total, net of tax | $ | 13,910 | Net of tax | |||||||||||||||||||
(1) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost. Refer to Note 8 of the Notes to Consolidated Financial Statements for the required disclosures. | ||||||||||||||||||||||
(2) We allocated income tax expense to accumulated other comprehensive loss to the extent income was recorded in accumulated other comprehensive loss and we have a loss from continuing operations. Refer to Note 5 of the Notes to Consolidated Financial Statements for the required disclosures. |
Unaudited_Selected_Quarterly_F1
Unaudited Selected Quarterly Financial Data (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of quarterly financial information | ' | ||||||||||||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||||||||||
Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | Three Months | ||||||||||||||||||||||||||
Ended | Ended | Ended | Ended | Ended | Ended | Ended | Ended | ||||||||||||||||||||||||||
March 30, | March 31, | June 29, | June 30, | September 28, | September 29, | January 4, | December 29, | ||||||||||||||||||||||||||
2013(a) | 2012(b) | 2013(c) | 2012(d) | 2013(e) | 2012(f) | 2014(g) | 2012(h) | ||||||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||||||||||||
Net sales | $ | 503,153 | $ | 453,708 | $ | 604,592 | $ | 517,026 | $ | 557,952 | $ | 496,810 | $ | 486,275 | $ | 440,298 | |||||||||||||||||
Gross profit | 56,458 | 54,232 | 55,185 | 63,188 | 62,492 | 60,531 | 54,348 | 52,119 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Selling, general and administrative | 58,760 | 56,644 | 61,201 | 57,564 | 58,176 | 57,307 | 55,627 | 54,842 | |||||||||||||||||||||||||
Gain from property insurance settlement | — | — | — | (476 | ) | — | — | — | — | ||||||||||||||||||||||||
(Gain) loss from sale of properties | (230 | ) | (578 | ) | — | 48 | (3,679 | ) | (9,151 | ) | (1,311 | ) | (204 | ) | |||||||||||||||||||
Restructuring and other charges | 889 | — | 7,309 | — | 2,758 | — | 1,167 | — | |||||||||||||||||||||||||
Depreciation and amortization | 2,173 | 2,260 | 2,229 | 2,187 | 2,144 | 2,106 | 2,571 | 2,012 | |||||||||||||||||||||||||
Operating (loss) income | (5,134 | ) | (4,094 | ) | (15,554 | ) | 3,865 | 3,093 | 10,269 | (3,706 | ) | (4,531 | ) | ||||||||||||||||||||
Non-operating expenses: | |||||||||||||||||||||||||||||||||
Interest expense | 7,192 | 6,782 | 6,916 | 7,325 | 6,918 | 7,294 | 6,998 | 6,756 | |||||||||||||||||||||||||
Other expense (income) | 110 | (62 | ) | 128 | 49 | 17 | (16 | ) | 50 | 22 | |||||||||||||||||||||||
(Benefit from) provision for income taxes | (4,637 | ) | (3,969 | ) | (9,105 | ) | (1,157 | ) | (2,134 | ) | 1,078 | (12,491 | ) | (4,305 | ) | ||||||||||||||||||
Tax valuation allowance | 4,850 | 4,174 | 8,813 | 1,354 | 1,498 | (1,155 | ) | 4,194 | 4,366 | ||||||||||||||||||||||||
Net (loss) income | $ | (12,649 | ) | $ | (11,019 | ) | $ | (22,306 | ) | $ | (3,706 | ) | $ | (3,206 | ) | $ | 3,068 | $ | (2,457 | ) | $ | (11,370 | ) | ||||||||||
Basic and diluted weighted average number of common shares outstanding | 66,714 | 65,368 | 84,167 | 65,471 | 84,596 | 65,473 | 84,818 | 65,494 | |||||||||||||||||||||||||
Basic and diluted net (loss) income per share applicable to common shares | $ | (0.19 | ) | $ | (0.17 | ) | $ | (0.27 | ) | $ | (0.06 | ) | $ | (0.04 | ) | $ | 0.04 | $ | (0.03 | ) | $ | (0.17 | ) | ||||||||||
(a) | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(b) | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(c) | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(d) | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(e) | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(f) | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||||||||||||||||
(g) | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||||||||||||||||
(h) | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Supplemental_Condensed_Consoli1
Supplemental Condensed Consolidating Financial Statements (Tables) | 12 Months Ended | ||||||||||||||||||||
Jan. 04, 2014 | |||||||||||||||||||||
Unaudited Supplemental Consolidating Financial Statements [Abstract] | ' | ||||||||||||||||||||
Schedule of condensed consolidating statement of operations | ' | ||||||||||||||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings | Corporation | Subsidiaries | |||||||||||||||||||
and Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net sales | $ | — | $ | 2,151,972 | $ | 27,363 | $ | (27,363 | ) | $ | 2,151,972 | ||||||||||
Cost of sales | — | 1,923,489 | — | — | 1,923,489 | ||||||||||||||||
Gross profit | — | 228,483 | 27,363 | (27,363 | ) | 228,483 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 5,913 | 267,232 | (5,115 | ) | (27,363 | ) | 240,667 | ||||||||||||||
Depreciation and amortization | — | 5,700 | 3,417 | — | 9,117 | ||||||||||||||||
Total operating expenses (income) | 5,913 | 272,932 | (1,698 | ) | (27,363 | ) | 249,784 | ||||||||||||||
Operating (loss) income | (5,913 | ) | (44,449 | ) | 29,061 | — | (21,301 | ) | |||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 13,686 | 14,338 | — | 28,024 | ||||||||||||||||
Other expense (income), net | — | 318 | (12 | ) | — | 306 | |||||||||||||||
(Loss) income before provision for (benefit from) income taxes | (5,913 | ) | (58,453 | ) | 14,735 | — | (49,631 | ) | |||||||||||||
Provision for (benefit from) income taxes | (157 | ) | (9,248 | ) | 392 | — | (9,013 | ) | |||||||||||||
Equity in (loss) income of subsidiaries | (34,862 | ) | — | — | 34,862 | — | |||||||||||||||
Net (loss) income | $ | (40,618 | ) | $ | (49,205 | ) | $ | 14,343 | $ | 34,862 | $ | (40,618 | ) | ||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings | Corporation | Subsidiaries | |||||||||||||||||||
and Subsidiaries | Eliminations | Consolidated | |||||||||||||||||||
Net sales | $ | — | $ | 1,907,842 | $ | 28,330 | $ | (28,330 | ) | $ | 1,907,842 | ||||||||||
Cost of sales | — | 1,677,772 | — | — | 1,677,772 | ||||||||||||||||
Gross profit | — | 230,070 | 28,330 | (28,330 | ) | 230,070 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 3,940 | 250,098 | (9,712 | ) | (28,330 | ) | 215,996 | ||||||||||||||
Depreciation and amortization | — | 5,040 | 3,525 | — | 8,565 | ||||||||||||||||
Total operating expenses (income) | 3,940 | 255,138 | (6,187 | ) | (28,330 | ) | 224,561 | ||||||||||||||
Operating (loss) income | (3,940 | ) | (25,068 | ) | 34,517 | — | 5,509 | ||||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 12,159 | 15,998 | — | 28,157 | ||||||||||||||||
Other expense (income), net | — | 10 | (17 | ) | — | (7 | ) | ||||||||||||||
(Loss) income before provision for income taxes | (3,940 | ) | (37,237 | ) | 18,536 | — | (22,641 | ) | |||||||||||||
Provision for income taxes | 386 | — | — | 386 | |||||||||||||||||
Equity in (loss) income of subsidiaries | (18,701 | ) | — | — | 18,701 | — | |||||||||||||||
Net (loss) income | $ | (23,027 | ) | $ | (37,237 | ) | $ | 18,536 | $ | 18,701 | $ | (23,027 | ) | ||||||||
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | ||||||||||||||||||||
Holdings | Corporation | LLC | |||||||||||||||||||
and Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Net sales | $ | — | $ | 1,755,431 | $ | 29,665 | $ | (29,665 | ) | $ | 1,755,431 | ||||||||||
Cost of sales | — | 1,545,282 | — | — | 1,545,282 | ||||||||||||||||
Gross profit | — | 210,149 | 29,665 | (29,665 | ) | 210,149 | |||||||||||||||
Operating expenses (income): | |||||||||||||||||||||
Selling, general and administrative | 3,728 | 244,398 | (10,604 | ) | (29,665 | ) | 207,857 | ||||||||||||||
Depreciation and amortization | — | 6,790 | 3,772 | — | 10,562 | ||||||||||||||||
Total operating expenses (income) | 3,728 | 251,188 | (6,832 | ) | (29,665 | ) | 218,419 | ||||||||||||||
Operating (loss) income | (3,728 | ) | (41,039 | ) | 36,497 | — | (8,270 | ) | |||||||||||||
Non-operating expenses: | |||||||||||||||||||||
Interest expense | — | 12,528 | 17,982 | — | 30,510 | ||||||||||||||||
Changes associated with ineffective interest rate swap | — | (1,676 | ) | — | — | (1,676 | ) | ||||||||||||||
Other expense (income), net | — | 516 | (15 | ) | — | 501 | |||||||||||||||
(Loss) income before provision for income taxes | (3,728 | ) | (52,407 | ) | 18,530 | — | (37,605 | ) | |||||||||||||
Provision for income taxes | 459 | 503 | — | — | 962 | ||||||||||||||||
Equity in (loss) income of subsidiaries | (34,380 | ) | — | — | 34,380 | — | |||||||||||||||
Net (loss) income | $ | (38,567 | ) | $ | (52,910 | ) | $ | 18,530 | $ | 34,380 | $ | (38,567 | ) | ||||||||
Schedule of condensed consolidating balance sheet | ' | ||||||||||||||||||||
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | |||||||||||||||||||||
BlueLinx | Corporation | ||||||||||||||||||||
Holdings Inc. | and | LLC | |||||||||||||||||||
Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash | $ | 47 | $ | 4,987 | $ | — | $ | — | $ | 5,034 | |||||||||||
Receivables | — | 150,297 | — | — | 150,297 | ||||||||||||||||
Inventories | — | 223,580 | — | — | 223,580 | ||||||||||||||||
Deferred income tax asset, net | — | — | 397 | (397 | ) | — | |||||||||||||||
Other current assets | 790 | 20,208 | 1,816 | — | 22,814 | ||||||||||||||||
Intercompany receivable | 68,454 | 26,374 | — | (94,828 | ) | — | |||||||||||||||
Total current assets | 69,291 | 425,446 | 2,213 | (95,225 | ) | 401,725 | |||||||||||||||
Property and equipment: | |||||||||||||||||||||
Land and land improvements | — | 4,040 | 37,136 | — | 41,176 | ||||||||||||||||
Buildings | — | 10,839 | 79,243 | — | 90,082 | ||||||||||||||||
Machinery and equipment | — | 73,004 | — | — | 73,004 | ||||||||||||||||
Construction in progress | — | 3,028 | — | — | 3,028 | ||||||||||||||||
Property and equipment, at cost | — | 90,911 | 116,379 | — | 207,290 | ||||||||||||||||
Accumulated depreciation | — | (64,557 | ) | (31,614 | ) | — | (96,171 | ) | |||||||||||||
Property and equipment, net | — | 26,354 | 84,765 | — | 111,119 | ||||||||||||||||
Investment in subsidiaries | (47,735 | ) | — | — | 47,735 | — | |||||||||||||||
Non-current deferred income tax assets, net | — | 1,221 | — | (397 | ) | 824 | |||||||||||||||
Other non-current assets | — | 11,768 | 4,810 | — | 16,578 | ||||||||||||||||
Total assets | $ | 21,556 | $ | 464,789 | $ | 91,788 | $ | (47,887 | ) | $ | 530,246 | ||||||||||
Liabilities: | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 1,080 | $ | 59,283 | $ | — | $ | — | 60,363 | ||||||||||||
Bank overdrafts | — | 19,377 | — | — | 19,377 | ||||||||||||||||
Accrued compensation | — | 4,173 | — | — | 4,173 | ||||||||||||||||
Current maturities of long-term debt | — | — | 9,141 | — | 9,141 | ||||||||||||||||
Deferred income tax liabilities, net | — | 1,220 | — | (397 | ) | 823 | |||||||||||||||
Other current liabilities | — | 11,727 | 1,222 | — | 12,949 | ||||||||||||||||
Intercompany payable | 26,374 | 68,454 | — | (94,828 | ) | — | |||||||||||||||
Total current liabilities | 27,454 | 164,234 | 10,363 | (95,225 | ) | 106,826 | |||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt | — | 211,193 | 177,802 | — | 388,995 | ||||||||||||||||
Non-current deferred income taxes | — | — | 397 | (397 | ) | — | |||||||||||||||
Other non-current liabilities | — | 40,323 | — | — | 40,323 | ||||||||||||||||
Total liabilities | 27,454 | 415,750 | 188,562 | (95,622 | ) | 536,144 | |||||||||||||||
Stockholders’ (deficit) equity/Parent’s Investment | (5,898 | ) | 49,039 | (96,774 | ) | 47,735 | (5,898 | ) | |||||||||||||
Total liabilities and (deficit) equity | $ | 21,556 | $ | 464,789 | $ | 91,788 | $ | (47,887 | ) | $ | 530,246 | ||||||||||
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | |||||||||||||||||||||
BlueLinx | Corporation | ||||||||||||||||||||
Holdings Inc. | and | LLC | |||||||||||||||||||
Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Assets: | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash | $ | 28 | $ | 5,160 | $ | — | $ | — | $ | 5,188 | |||||||||||
Receivables | — | 157,465 | — | — | 157,465 | ||||||||||||||||
Inventories | — | 230,059 | — | — | 230,059 | ||||||||||||||||
Other current assets | 1,596 | 17,790 | 41 | — | 19,427 | ||||||||||||||||
Intercompany receivable | 73,981 | 28,814 | — | (102,795 | ) | — | |||||||||||||||
Total current assets | 75,605 | 439,288 | 41 | (102,795 | ) | 412,139 | |||||||||||||||
Property and equipment: | |||||||||||||||||||||
Land and land improvements | — | 3,250 | 39,870 | — | 43,120 | ||||||||||||||||
Buildings | — | 10,213 | 83,857 | — | 94,070 | ||||||||||||||||
Machinery and equipment | — | 78,674 | — | — | 78,674 | ||||||||||||||||
Construction in progress | — | 1,173 | — | — | 1,173 | ||||||||||||||||
Property and equipment, at cost | — | 93,310 | 123,727 | — | 217,037 | ||||||||||||||||
Accumulated depreciation | — | (71,583 | ) | (30,101 | ) | — | (101,684 | ) | |||||||||||||
Property and equipment, net | — | 21,727 | 93,626 | — | 115,353 | ||||||||||||||||
Investment in subsidiaries | (67,053 | ) | — | — | 67,053 | — | |||||||||||||||
Non-current deferred income tax assets, net | — | 445 | — | — | 445 | ||||||||||||||||
Other non-current assets | — | 10,646 | 6,153 | — | 16,799 | ||||||||||||||||
Total assets | $ | 8,552 | $ | 472,106 | $ | 99,820 | $ | (35,742 | ) | $ | 544,736 | ||||||||||
Liabilities: | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Accounts payable | $ | 203 | $ | 77,257 | $ | 390 | $ | — | 77,850 | ||||||||||||
Bank overdrafts | — | 35,384 | — | — | 35,384 | ||||||||||||||||
Accrued compensation | 127 | 6,043 | — | — | 6,170 | ||||||||||||||||
Current maturities of long-term debt | — | — | 8,946 | — | 8,946 | ||||||||||||||||
Deferred income tax liabilities, net | — | 449 | — | — | 449 | ||||||||||||||||
Other current liabilities | — | 9,831 | 1,106 | — | 10,937 | ||||||||||||||||
Intercompany payable | 28,814 | 73,981 | — | (102,795 | ) | — | |||||||||||||||
Total current liabilities | 29,144 | 202,945 | 10,442 | (102,795 | ) | 139,736 | |||||||||||||||
Non-current liabilities: | |||||||||||||||||||||
Long-term debt | — | 171,412 | 197,034 | — | 368,446 | ||||||||||||||||
Other non-current liabilities | — | 57,146 | — | — | 57,146 | ||||||||||||||||
Total liabilities | 29,144 | 431,503 | 207,476 | (102,795 | ) | 565,328 | |||||||||||||||
Stockholders’ (deficit) equity/Parent’s Investment | (20,592 | ) | 40,603 | (107,656 | ) | 67,053 | (20,592 | ) | |||||||||||||
Total liabilities and (deficit) equity | $ | 8,552 | $ | 472,106 | $ | 99,820 | $ | (35,742 | ) | $ | 544,736 | ||||||||||
Schedule of condensed consolidating statement of cash flows | ' | ||||||||||||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | Eliminations | Consolidated | |||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | |||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (40,618 | ) | $ | (49,205 | ) | $ | 14,343 | $ | 34,862 | $ | (40,618 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | |||||||||||||||||||||
Depreciation and amortization | — | 5,700 | 3,417 | — | 9,117 | ||||||||||||||||
Amortization of debt issue costs | — | 1,841 | 1,343 | — | 3,184 | ||||||||||||||||
Write-off of debt issuance costs | — | 119 | — | — | 119 | ||||||||||||||||
Loss (gain) from sale of properties | — | 554 | (5,774 | ) | — | (5,220 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | — | — | — | ||||||||||||||||
Vacant property charges, net | — | 1,321 | — | — | 1,321 | ||||||||||||||||
Severance charges | — | 5,607 | — | — | 5,607 | ||||||||||||||||
Payments on modification of lease agreement | — | (300 | ) | — | — | (300 | ) | ||||||||||||||
Deferred income tax benefit | — | (5 | ) | -397 | 397 | (5 | ) | ||||||||||||||
Intraperiod income tax allocation related to the hourly pension plan | — | (8,894 | ) | — | — | (8,894 | ) | ||||||||||||||
Pension expense | — | 4,591 | — | — | 4,591 | ||||||||||||||||
Share-based compensation, excluding restructuring related | 904 | 2,318 | — | — | 3,222 | ||||||||||||||||
Share-based compensation, restructuring related | — | 2,895 | — | — | 2,895 | ||||||||||||||||
Increase in restricted cash related to insurance and other | — | (1,810 | ) | — | — | (1,810 | ) | ||||||||||||||
Accrued compensation and other | 684 | (10,064 | ) | 625 | -397 | (9,152 | ) | ||||||||||||||
Equity (deficit) in earnings of subsidiaries | 34,862 | — | — | (34,862 | ) | — | |||||||||||||||
Intercompany receivable | 5,527 | 2,440 | — | (7,967 | ) | — | |||||||||||||||
Intercompany payable | (2,440 | ) | (5,527 | ) | — | 7,967 | — | ||||||||||||||
(1,081 | ) | (48,419 | ) | 13,557 | — | (35,943 | ) | ||||||||||||||
Changes in primary working capital components: | |||||||||||||||||||||
Receivables | — | 7,168 | — | — | 7,168 | ||||||||||||||||
Inventories | — | 6,479 | — | — | 6,479 | ||||||||||||||||
Accounts payable | 779 | (17,973 | ) | (391 | ) | — | (17,585 | ) | |||||||||||||
Net cash (used in) provided by operating activities | (302 | ) | (52,745 | ) | 13,166 | — | (39,881 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | (35,202 | ) | 38,663 | (3,461 | ) | — | — | ||||||||||||||
Property, plant and equipment investments | — | (4,912 | ) | — | — | (4,912 | ) | ||||||||||||||
Proceeds from disposition of assets | — | 1,072 | 9,293 | — | 10,365 | ||||||||||||||||
Net cash provided by (used in) investing activities | (35,202 | ) | 34,823 | 5,832 | — | 5,453 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | 16 | — | — | 16 | ||||||||||||||||
Repurchase of shares to satisfy employee tax withholdings | (3,192 | ) | — | — | — | (3,192 | ) | ||||||||||||||
Repayments on revolving credit facilities | — | (560,186 | ) | — | — | (560,186 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 599,968 | — | — | 599,968 | ||||||||||||||||
Payments of principal on mortgage | — | — | (19,038 | ) | — | (19,038 | ) | ||||||||||||||
Payments on capital lease obligations | — | (3,142 | ) | — | — | (3,142 | ) | ||||||||||||||
(Decrease) increase in bank overdrafts | — | (16,007 | ) | — | — | (16,007 | ) | ||||||||||||||
Increase in restricted cash related to the mortgage | — | — | 40 | — | 40 | ||||||||||||||||
Proceeds from rights offering, less expenses paid | 38,715 | — | — | — | 38,715 | ||||||||||||||||
Debt issuance costs | — | (2,900 | ) | — | — | (2,900 | ) | ||||||||||||||
Net cash provided by (used in) financing activities | 35,523 | 17,749 | (18,998 | ) | — | 34,274 | |||||||||||||||
Increase (decrease) in cash | 19 | (173 | ) | — | — | (154 | ) | ||||||||||||||
Balance, beginning of period | 28 | 5,160 | — | — | 5,188 | ||||||||||||||||
Balance, end of period | $ | 47 | $ | 4,987 | $ | — | $ | — | $ | 5,034 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | (61 | ) | $ | (271 | ) | $ | — | $ | (332 | ) | ||||||||
Interest paid during the period | $ | 13,480 | $ | 11,226 | $ | — | $ | — | $ | 24,706 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 5,069 | $ | — | $ | — | $ | 5,069 | |||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (23,027 | ) | $ | (37,237 | ) | $ | 18,536 | $ | 18,701 | $ | (23,027 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operations: | |||||||||||||||||||||
Depreciation and amortization | — | 5,040 | 3,525 | — | 8,565 | ||||||||||||||||
Amortization of debt issue costs | — | 2,471 | 1,275 | — | 3,746 | ||||||||||||||||
Write-off of debt issuance costs | — | — | — | — | — | ||||||||||||||||
Gain from sale of properties | — | — | (9,885 | ) | — | (9,885 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | (476 | ) | — | (476 | ) | ||||||||||||||
Vacant property charges, net | — | (30 | ) | — | — | (30 | ) | ||||||||||||||
Severance charges | — | — | — | — | — | ||||||||||||||||
Payments on modification of lease agreement | — | (5,875 | ) | — | — | (5,875 | ) | ||||||||||||||
Deferred income tax benefit | — | (20 | ) | — | — | (20 | ) | ||||||||||||||
Pension expense | — | 3,942 | — | — | 3,942 | ||||||||||||||||
Share-based compensation, excluding restructuring related | 528 | 2,269 | — | — | 2,797 | ||||||||||||||||
Share-based compensation, restructuring related | — | — | — | — | — | ||||||||||||||||
Decrease in restricted cash related to the ineffective interest swap, insurance, and other | — | 695 | — | — | 695 | ||||||||||||||||
Accrued compensation and other | (971 | ) | 875 | (561 | ) | — | (657 | ) | |||||||||||||
Equity (deficit) in earnings of subsidiaries | 18,701 | — | — | (18,701 | ) | — | |||||||||||||||
Intercompany receivable | (6,940 | ) | (10,332 | ) | — | 17,272 | — | ||||||||||||||
Intercompany payable | 10,332 | 6,940 | — | (17,272 | ) | — | |||||||||||||||
(1,377 | ) | (31,262 | ) | 12,414 | — | (20,225 | ) | ||||||||||||||
Changes in primary working capital components: | |||||||||||||||||||||
Receivables | — | (18,593 | ) | — | — | (18,593 | ) | ||||||||||||||
Inventories | — | (44,482 | ) | — | — | (44,482 | ) | ||||||||||||||
Accounts payable | 42 | 8,619 | 389 | — | 9,050 | ||||||||||||||||
Net cash (used in) provided by operating activities | (1,335 | ) | (85,718 | ) | 12,803 | — | (74,250 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | 1,862 | 154 | (2,016 | ) | — | — | |||||||||||||||
Property, plant and equipment investments | — | (2,826 | ) | — | (2,826 | ) | |||||||||||||||
Proceeds from disposition of assets | — | 997 | 18,198 | — | 19,195 | ||||||||||||||||
Net cash provided by (used in) investing activities | 1,862 | (1,675 | ) | 16,182 | — | 16,369 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | — | — | — | — | ||||||||||||||||
Repurchase of shares to satisfy employee tax withholdings | (526 | ) | — | — | — | (526 | ) | ||||||||||||||
Repayments on revolving credit facilities | — | (473,349 | ) | — | — | (473,349 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 550,270 | — | — | 550,270 | ||||||||||||||||
Principal payments on mortgage | — | — | (37,272 | ) | — | (37,272 | ) | ||||||||||||||
Payments on capital lease obligations | — | (2,259 | ) | — | — | (2,259 | ) | ||||||||||||||
Increase in bank overdrafts | — | 13,020 | — | — | 13,020 | ||||||||||||||||
Decrease in restricted cash related to the mortgage | — | — | 9,970 | — | 9,970 | ||||||||||||||||
Debt financing costs | — | — | (1,683 | ) | — | (1,683 | ) | ||||||||||||||
Net cash (used in) provided by financing activities | (526 | ) | 87,682 | (28,985 | ) | — | 58,171 | ||||||||||||||
Increase in cash | 1 | 289 | — | — | 290 | ||||||||||||||||
Cash and cash equivalents balance, beginning of period | 27 | 4,871 | — | — | 4,898 | ||||||||||||||||
Cash and cash equivalents balance, end of period | $ | 28 | $ | 5,160 | $ | — | $ | — | $ | 5,188 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | 37 | $ | (545 | ) | $ | — | $ | (508 | ) | |||||||||
Interest paid during the period | $ | — | $ | 9,309 | $ | 14,979 | $ | — | $ | 24,288 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 5,238 | $ | — | $ | — | $ | 5,238 | |||||||||||
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands): | |||||||||||||||||||||
BlueLinx | BlueLinx | LLC | |||||||||||||||||||
Holdings Inc. | Corporation | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||
Net (loss) income | $ | (38,567 | ) | $ | (52,910 | ) | $ | 18,530 | $ | 34,380 | $ | (38,567 | ) | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operations: | |||||||||||||||||||||
Depreciation and amortization | — | 6,790 | 3,772 | — | 10,562 | ||||||||||||||||
Amortization of debt issue costs | — | 1,983 | 957 | — | 2,940 | ||||||||||||||||
Write-off of debt issuance costs | — | — | — | — | — | ||||||||||||||||
Gain from sale of properties | — | — | (10,604 | ) | — | (10,604 | ) | ||||||||||||||
Gain from property insurance settlement | — | — | (1,230 | ) | — | (1,230 | ) | ||||||||||||||
Changes associated with ineffective interest rate swap | — | (1,676 | ) | — | — | (1,676 | ) | ||||||||||||||
Vacant property charges, net | — | (291 | ) | — | — | (291 | ) | ||||||||||||||
Severance charges | — | — | — | — | — | ||||||||||||||||
Gain on modification of lease agreement | — | (1,971 | ) | — | — | (1,971 | ) | ||||||||||||||
Deferred income tax benefit | — | (25 | ) | — | — | (25 | ) | ||||||||||||||
Pension expense | — | 1,774 | — | — | 1,774 | ||||||||||||||||
Share-based compensation, excluding restructuring related | — | 1,602 | 372 | — | 1,974 | ||||||||||||||||
Share-based compensation, restructuring related | — | — | — | — | — | ||||||||||||||||
Decrease in restricted cash related to the ineffective interest swap, insurance, and other | — | 987 | — | — | 987 | ||||||||||||||||
Accrued compensation and other | 167 | — | (2,104 | ) | (1,244 | ) | (3,181 | ) | |||||||||||||
Equity in earnings of subsidiaries | 34,380 | — | — | (34,380 | ) | — | |||||||||||||||
Intercompany receivable | (9,829 | ) | (9,727 | ) | — | 19,556 | — | ||||||||||||||
Intercompany payable | 9,218 | 9,094 | — | (18,312 | ) | — | |||||||||||||||
(4,631 | ) | (44,370 | ) | 9,693 | — | (39,308 | ) | ||||||||||||||
Changes in assets and liabilities: | |||||||||||||||||||||
Receivables | — | (19,670 | ) | — | — | (19,670 | ) | ||||||||||||||
Inventories | — | 2,673 | — | — | 2,673 | ||||||||||||||||
Accounts payable | 102 | 5,871 | — | — | 5,973 | ||||||||||||||||
Net cash (used in) provided by operating activities | (4,529 | ) | (55,496 | ) | 9,693 | — | (50,332 | ) | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Investment in subsidiaries | (54,349 | ) | 55,209 | (860 | ) | — | — | ||||||||||||||
Property, plant and equipment investments | — | (3,203 | ) | (3,330 | ) | — | (6,533 | ) | |||||||||||||
Proceeds from sale of assets | — | 504 | 17,851 | — | 18,355 | ||||||||||||||||
Net cash (used in) provided by investing activities | (54,349 | ) | 52,510 | 13,661 | — | 11,822 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Excess tax benefits from share-based compensation arrangements | — | — | — | — | — | ||||||||||||||||
Repayments on revolving credit facilities | — | (478,630 | ) | — | — | (478,630 | ) | ||||||||||||||
Borrowings on revolving credit facilities | — | 475,918 | — | — | 475,918 | ||||||||||||||||
Principal payments on mortgage | — | — | (42,416 | ) | — | (42,416 | ) | ||||||||||||||
Payments on capital lease obligations | — | (1,440 | ) | — | — | (1,440 | ) | ||||||||||||||
Decrease in bank overdrafts | — | (725 | ) | — | — | (725 | ) | ||||||||||||||
Decrease in restricted cash related to the mortgage | — | — | 20,604 | — | 20,604 | ||||||||||||||||
Debt financing costs | — | (1,179 | ) | (1,542 | ) | — | (2,721 | ) | |||||||||||||
Proceeds from stock offering less expenses paid | 58,521 | — | — | — | 58,521 | ||||||||||||||||
Net cash provided by (used in) financing activities | 58,521 | (6,056 | ) | (23,354 | ) | — | 29,111 | ||||||||||||||
Decrease in cash | (357 | ) | (9,042 | ) | — | — | (9,399 | ) | |||||||||||||
Cash and cash equivalents balance, beginning of period | 384 | 13,913 | — | — | 14,297 | ||||||||||||||||
Cash and cash equivalents balance, end of period | $ | 27 | $ | 4,871 | $ | — | $ | — | $ | 4,898 | |||||||||||
Supplemental cash flow information: | |||||||||||||||||||||
Net income tax refunds (income taxes paid) during the period | $ | — | $ | 231 | $ | (253 | ) | $ | — | $ | (22 | ) | |||||||||
Interest paid during the period | $ | — | $ | 10,783 | $ | 17,315 | $ | — | $ | 28,098 | |||||||||||
Noncash transactions: | |||||||||||||||||||||
Capital leases | $ | — | $ | 3,131 | $ | — | $ | — | $ | 3,131 | |||||||||||
Schedule of condensed consolidating statement of stockholders' equity (deficit) | ' | ||||||||||||||||||||
BlueLinx | BlueLinx | ||||||||||||||||||||
Holdings Inc. | Corporation | LLC | |||||||||||||||||||
and Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||
Balance, January 1, 2011 | $ | 991 | $ | 94,273 | $ | (140,314 | ) | $ | 46,041 | $ | 991 | ||||||||||
Net (loss) income | (38,567 | ) | (52,910 | ) | 18,530 | 34.38 | (38,567 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | (92 | ) | (92 | ) | — | 92 | (92 | ) | |||||||||||||
Unrealized (loss) income from pension plan, net of tax | (14,969 | ) | (14,969 | ) | — | 14,969 | (14,969 | ) | |||||||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | 519 | 519 | — | (519 | ) | 519 | |||||||||||||||
Issuance of restricted stock, net of forfeitures | 7 | — | — | — | 7 | ||||||||||||||||
Issuance of stock related to the rights offering, net of expenses | 58,521 | — | — | — | 58,521 | ||||||||||||||||
Compensation related to share-based grants | 2,158 | — | — | — | 2,158 | ||||||||||||||||
Impact of net settled shares for vested grants | (194 | ) | — | — | — | (194 | ) | ||||||||||||||
Net transactions with the Parent | — | 56,805 | (2,391 | ) | (54,414 | ) | — | ||||||||||||||
Balance, December 31, 2011 | $ | 8,374 | $ | 83,626 | $ | (124,175 | ) | $ | 40,549 | $ | 8,374 | ||||||||||
Net (loss) income | (23,027 | ) | (37,237 | ) | 18,536 | 18,701 | (23,027 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | 103 | 103 | — | (103 | ) | 103 | |||||||||||||||
Unrealized loss (income) from pension plan, net of tax | (8,245 | ) | (8,245 | ) | — | 8,245 | (8,245 | ) | |||||||||||||
Issuance of restricted stock, net of forfeitures | 19 | 19 | — | (19 | ) | 19 | |||||||||||||||
Compensation related to share-based grants | 2,730 | — | — | — | 2,730 | ||||||||||||||||
Impact of net settled shares for vested grants | (526 | ) | — | — | — | (526 | ) | ||||||||||||||
Other | (20 | ) | — | — | — | (20 | ) | ||||||||||||||
Net transactions with the Parent | — | 2,337 | (2,017 | ) | (320 | ) | — | ||||||||||||||
Balance, December 29, 2012 | $ | (20,592 | ) | $ | 40,603 | $ | (107,656 | ) | $ | 67,053 | $ | (20,592 | ) | ||||||||
Net (loss) income | (40,618 | ) | (49,205 | ) | 14,343 | 34,862 | (40,618 | ) | |||||||||||||
Foreign currency translation adjustment, net of tax | (161 | ) | (161 | ) | — | 161 | (161 | ) | |||||||||||||
Unrealized income (loss) from pension plan, net of tax | 13,910 | 13,910 | — | (13,910 | ) | 13,910 | |||||||||||||||
Issuance of restricted stock, net of forfeitures | 6 | 6 | — | (6 | ) | 6 | |||||||||||||||
Issuance of performance shares | 6 | 6 | — | (6 | ) | 6 | |||||||||||||||
Issuance of stock related to the rights offering, net of expenses | 38,613 | — | — | — | 38,613 | ||||||||||||||||
Compensation related to share-based grants | 6,117 | — | — | — | 6,117 | ||||||||||||||||
Impact of net settled shares for vested grants | (3,193 | ) | — | — | — | (3,193 | ) | ||||||||||||||
Excess tax benefits from share-based compensation arrangements | 16 | — | — | — | 16 | ||||||||||||||||
Other | (2 | ) | — | — | — | (2 | ) | ||||||||||||||
Net transactions with the Parent | — | 43,880 | (3,461 | ) | (40,419 | ) | — | ||||||||||||||
Balance, January 4, 2014 | $ | (5,898 | ) | $ | 49,039 | $ | (96,774 | ) | $ | 47,735 | $ | (5,898 | ) |
Basis_of_Presentation_and_Back2
Basis of Presentation and Background (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Product Information [Line Items] | ' | ' | ' |
Unallocated allowances and adjustments | ($16) | ($12) | ($18) |
Total sales | 2,152 | 1,908 | 1,755 |
Structural products | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' |
Sales revenue gross | 968 | 806 | 705 |
Specialty products | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' |
Sales revenue gross | $1,200 | $1,114 | $1,068 |
Basis_of_Presentation_and_Back3
Basis of Presentation and Background (Detail Textuals) | 12 Months Ended |
Jan. 04, 2014 | |
Customer | |
Product | |
Supplier | |
Distribution_Center | |
Employee | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Number of employees | 1,700 |
Number of products | 10,000 |
Number of suppliers | 750 |
Number of customers | 11,500 |
Number of distribution centers | 50 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Cash in escrow: | ' | ' |
Restricted cash | $11,681 | $9,911 |
Mortgage | ' | ' |
Cash in escrow: | ' | ' |
Restricted cash | ' | 40 |
Insurance | ' | ' |
Cash in escrow: | ' | ' |
Restricted cash | 7,921 | 7,906 |
Other | ' | ' |
Cash in escrow: | ' | ' |
Restricted cash | $3,760 | $1,965 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Detail Textuals) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||
Mar. 27, 2013 | Apr. 02, 2011 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 | Jan. 04, 2014 | Sep. 19, 2012 | Jan. 04, 2014 | Jun. 29, 2013 | |
Factor | Center | Mortgage | Mortgage | Cost of Sales | Cost of Sales | |||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer consigned inventory | ' | ' | $10,100,000 | $10,300,000 | ' | ' | ' | ' | ' | ' |
Restricted cash | ' | ' | 11,681,000 | 9,911,000 | ' | ' | ' | ' | ' | ' |
Payment of indebtedness under the mortgage | ' | ' | ' | ' | ' | ' | ' | 11,800,000 | ' | ' |
Additional prepayment of indebtedness | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' |
Restricted cash under mortgage, released quarterly | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' |
Allowances for receivables (in dollars) | ' | ' | 4,359,000 | 4,720,000 | ' | ' | ' | ' | ' | ' |
Lower of cost or market charge related to declines in prices for our lumber, oriented strand board ("OSB") and plywood inventory | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 |
Reduced inventory reserve | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' |
Turn days of items considered for inclusion in excess or obsolescence | ' | ' | '270 days | ' | ' | ' | ' | ' | ' | ' |
Inventory reserves related to sale or closure of distribution centers | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 |
Damaged, excess and obsolete inventory reserves | ' | ' | 1,798,000 | 1,126,000 | 1,492,000 | 1,670,000 | ' | ' | ' | ' |
Number of distribution centers sold or closed | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' |
Total vendor rebate receivable | ' | ' | 7,600,000 | 9,000,000 | ' | ' | ' | ' | ' | ' |
Total customer rebate payable | ' | ' | 6,300,000 | 5,500,000 | ' | ' | ' | ' | ' | ' |
Adjustment factor used to adjust weighted average shares for the bonus element in the rights offering | 1.0894 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares prior to 2013 right offering | ' | ' | ' | 60,079,528 | 43,187,315 | ' | ' | ' | ' | ' |
Weighted average shares after application of adjustment factor | ' | ' | ' | 65,451,808 | 47,049,102 | ' | ' | ' | ' | ' |
Total cash insurance proceeds received related to damaged facility at Newtown, CT | ' | 5,800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash insurance proceeds received related to the damaged building | ' | 2,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash insurance proceeds received related to damaged and destroyed inventory | ' | 2,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Recovery of additional expenses incurred | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain included in Selling, general and administrative expenses | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain from insurance proceeds related to damaged building | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Gain related to recovery of gross margin on inventory | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated gain from foreign currency translation (net of tax) | ' | ' | $1,636,000 | $1,797,000 | $1,694,000 | $1,786,000 | ' | ' | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Detail Textuals 1) (Selling, general and administrative expenses, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Selling, general and administrative expenses | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Shipping and handling costs | $99.70 | $91.20 | $87.90 |
Advertising costs | $1.20 | $1.10 | $1.90 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies (Detail Textuals 2) | 3 Months Ended | 12 Months Ended | ||||||||||||
Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 04, 2014 | |
Unvested Restricted Stock | Unvested Restricted Stock | Unvested Restricted Stock | Unvested Share-based Awards | Unvested Share-based Awards | Unvested Share-based Awards | Performance Shares | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Anti-dilutive shares excluded from earnings per share calculation | 4,595,650 | 5,136,430 | 5,203,076 | 5,512,899 | 4,460,054 | 4,515,590 | 4,519,590 | 1,618,283 | 3,554,738 | 2,361,424 | 4,595,650 | 4,460,054 | 3,266,740 | 2,192,868 |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies (Detail Textuals 3) (Long-Term Incentive Plan 2006, Performance Shares) | 12 Months Ended |
Jan. 04, 2014 | |
Long-Term Incentive Plan 2006 | Performance Shares | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Performance shares granted and approved during the period | 2,969,424 |
Performance shares expected to vest | 2,192,868 |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies (Detail Textuals 4) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $9.10 | $8.40 | $10.40 |
Carrying value of properties sold | 3.9 | 7.4 | ' |
Long - lived assets, depreciation method | 'straight-line method | ' | ' |
Selling, general and administrative expenses | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total gains on properties sold | $5.20 | $9.90 | ' |
Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '5 years | ' | ' |
Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '40 years | ' | ' |
Land improvements | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '2 years | ' | ' |
Land improvements | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '18 years | ' | ' |
Buildings | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '5 years | ' | ' |
Buildings | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '40 years | ' | ' |
Machinery and equipment | Minimum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '3 years | ' | ' |
Machinery and equipment | Maximum | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Long - lived assets estimated useful life | '7 years | ' | ' |
Restructuring_Charges_Details
Restructuring Charges (Details) (2013 Facility Lease Obligation and Severance Costs, USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Jan. 04, 2014 |
Restructuring Cost and Reserve [Line Items] | ' |
Balance at December 29, 2012 | $0 |
Charges | 7,107 |
Assumption changes | -179 |
Payments | -3,459 |
Accretion of Liability | 9 |
Balance at January 4, 2014 | 3,478 |
Reduction in Force Activities | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Balance at December 29, 2012 | 0 |
Charges | 5,709 |
Assumption changes | -102 |
Payments | -3,057 |
Accretion of Liability | ' |
Balance at January 4, 2014 | 2,550 |
Facility Lease Obligation | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Balance at December 29, 2012 | 0 |
Charges | 1,398 |
Assumption changes | -77 |
Payments | -402 |
Accretion of Liability | 9 |
Balance at January 4, 2014 | $928 |
Restructuring_Charges_Detail_T
Restructuring Charges (Detail Textuals) (USD $) | 3 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Mar. 30, 2013 | Sep. 29, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Mar. 31, 2012 | Sep. 28, 2013 | Jun. 29, 2013 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | |
Selling, general and administrative expenses | 2013 Facility Lease Obligation and Severance Costs | 2013 Facility Lease Obligation and Severance Costs | 2013 Facility Lease Obligation and Severance Costs | 2013 Facility Lease Obligation and Severance Costs | 2013 Facility Lease Obligation and Severance Costs | ||||||
Distribution_Center | Selling, general and administrative expenses | Facility Lease Obligation | Facility Lease Obligation | ||||||||
Selling, general and administrative expenses | |||||||||||
Facility | |||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of distribution centers to be sold or closed | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' |
Severance charges | ' | ' | $5,607,000 | ' | ' | ' | ' | ' | $5,600,000 | ' | ' |
Share based compensation related to 2013 restructuring and change in executive leadership | ' | ' | ' | ' | ' | ' | ' | ' | 2,900,000 | ' | ' |
Severance and lease facility restructuring charges | ' | ' | ' | ' | ' | ' | ' | 7,107,000 | ' | 1,398,000 | 1,300,000 |
Number of facilities closed for which lease reserves were recorded | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 |
Other restructuring related charges | ' | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | ' |
Space remittance fee payable | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' |
Contractually obligated tenant improvement reimbursement expense | 300,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining balance accrued facility consolidation reserve | ' | ' | 300,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' |
Lease expiration date | ' | ' | 31-Jan-19 | ' | ' | ' | ' | ' | ' | ' | ' |
Transition Costs | ' | ' | ' | ' | ' | $800,000 | ' | ' | ' | ' | ' |
Assets_Held_for_Sale_and_Net_G1
Assets Held for Sale and Net Gain on Disposition (Detail Textuals) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Jan. 04, 2014 | Jan. 04, 2014 | Sep. 28, 2013 | Jan. 04, 2014 | Jan. 04, 2014 | Dec. 29, 2012 |
Distribution_Center | Office space and other location held for sale | Office space and other location held for sale | Distribution centers held for sale | Other current assets | Other current assets | |
Distribution_Center | ||||||
Assets Held For Sale and Net Gain On Disposition [Line Items] | ' | ' | ' | ' | ' | ' |
Total assets held for sale current | ' | ' | ' | ' | $2.60 | $1.60 |
Assets held for sale | ' | 0.6 | 3.3 | 1.9 | ' | ' |
Number of distribution centers | 50 | ' | ' | 1 | ' | ' |
Recognized gain on sale of assets | 5 | ' | ' | ' | ' | ' |
Capitalized brokerage commissions written off on sale of asset | 0.5 | ' | ' | ' | ' | ' |
Additional gain realized related to sale of Fremont, CA property | $0.20 | ' | ' | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Federal income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Current | ' | ' | ' | ' | ' | ' | ' | ' | ($492) | $16 | ($89) | ||||||||
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -7,385 | ' | ' | ||||||||
State income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Current | ' | ' | ' | ' | ' | ' | ' | ' | 192 | 334 | 759 | ||||||||
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -1,343 | ' | ' | ||||||||
Foreign income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Current | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 56 | 317 | ||||||||
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -4 | -20 | -25 | ||||||||
(Benefit from) provision for income taxes | ($12,491) | [1] | ($2,134) | [2] | ($9,105) | [3] | ($4,637) | [4] | ($4,305) | [5] | $1,078 | [6] | ($1,157) | [7] | ($3,969) | [8] | ($9,013) | $386 | $962 |
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Benefit from income taxes computed at the federal statutory tax rate | ' | ' | ' | ' | ' | ' | ' | ' | ($17,371) | ($7,924) | ($13,162) | ||||||||
Benefit from state income taxes, net of federal benefit | ' | ' | ' | ' | ' | ' | ' | ' | -1,991 | -866 | -1,296 | ||||||||
Valuation allowance change | ' | ' | ' | ' | ' | ' | ' | ' | 19,445 | 8,820 | 14,498 | ||||||||
Nondeductible items | ' | ' | ' | ' | ' | ' | ' | ' | 270 | 484 | 806 | ||||||||
Benefit from allocation of income taxes to other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -8,726 | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | -640 | -128 | 116 | ||||||||
(Benefit from) provision for income taxes | ($12,491) | [1] | ($2,134) | [2] | ($9,105) | [3] | ($4,637) | [4] | ($4,305) | [5] | $1,078 | [6] | ($1,157) | [7] | ($3,969) | [8] | ($9,013) | $386 | $962 |
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Deferred income tax assets: | ' | ' | ' | ||
Inventory reserves | $2,832 | $2,816 | ' | ||
Compensation-related accruals | 4,893 | 5,838 | ' | ||
Accruals and reserves | 1,030 | 92 | ' | ||
Accounts receivable | 1,291 | 1,327 | ' | ||
Restructuring costs | 488 | 118 | ' | ||
Pension | 8,245 | 16,936 | ' | ||
Benefit from NOL carryovers | 70,169 | [1] | 52,088 | [1] | ' |
Other | 703 | 695 | ' | ||
Total gross deferred income tax assets | 89,651 | 79,910 | ' | ||
Less: Valuation allowances | -88,279 | -78,050 | -66,793 | ||
Total net deferred income tax assets | 1,372 | 1,860 | ' | ||
Deferred income tax liabilities: | ' | ' | ' | ||
Intangible assets | ' | -60 | ' | ||
Property and equipment | -365 | -1,065 | ' | ||
Other | -1,006 | -739 | ' | ||
Total deferred income tax liabilities | -1,371 | -1,864 | ' | ||
Deferred income tax assets (liabilities), net | $1 | ($4) | ' | ||
[1] | Our federal NOL carryovers are $168.1 million and will expire in 15 to 20 years. Our state NOL carryovers are $232.2 million and will expire in 1 to 20 years. |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 |
Income Taxes [Abstract] | ' | ' |
Balance at beginning of the year | $78,050 | $66,793 |
Valuation allowance removed for taxes related to: | ' | ' |
Income before income taxes | ' | ' |
Valuation allowance provided for taxes related to: | ' | ' |
Loss before income taxes | 10,229 | 11,257 |
Effect of a change in judgment | ' | ' |
Balance at end of the year | $88,279 | $78,050 |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at beginning of the year | $826 | $873 | $677 |
Increases related to current year tax positions | ' | ' | ' |
Additions for tax positions in prior years | ' | ' | 196 |
Reductions for tax positions in prior years | ' | ' | ' |
Reductions due to lapse of applicable statute of limitations | -567 | -47 | ' |
Settlements | ' | ' | ' |
Balance at end of the year | $259 | $826 | $873 |
Income_Taxes_Detail_Textuals
Income Taxes (Detail Textuals) (Canada, USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Canada | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Income before provision for income taxes for Canadian operations | $0.10 | $0.10 | $0.90 |
Income_Taxes_Detail_Textuals_1
Income Taxes (Detail Textuals 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |||||||||
Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Federal statutory income tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ||||||||
Tax expense (benefit) | ($12,491,000) | [1] | ($2,134,000) | [2] | ($9,105,000) | [3] | ($4,637,000) | [4] | ($4,305,000) | [5] | $1,078,000 | [6] | ($1,157,000) | [7] | ($3,969,000) | [8] | ($9,013,000) | $386,000 | $962,000 |
Current state income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 192,000 | 334,000 | 759,000 | ||||||||
Current foreign income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 19,000 | 56,000 | 317,000 | ||||||||
Unrecognized tax benefits | 300,000 | ' | ' | ' | 800,000 | ' | ' | ' | 300,000 | 800,000 | ' | ||||||||
Tax benefit for an uncertain tax position | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ||||||||
Non-cash tax benefit on the loss from continuing operations | $8,700,000 | ' | ' | ' | ' | ' | ' | ' | $8,700,000 | ' | ' | ||||||||
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Income_Taxes_Detail_Textuals_2
Income Taxes (Detail Textuals 2) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Jan. 04, 2014 |
Operating Loss Carryforwards [Line Items] | ' |
Federal NOL carryovers | 168.1 |
State NOL carryovers | 232.2 |
Federal | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards, expiration dates | 'expire in 15 to 20 years |
State | ' |
Operating Loss Carryforwards [Line Items] | ' |
Net operating loss carryforwards, expiration dates | 'expire in 1 to 20 years |
Receivables_Details
Receivables (Details) (Allowance for doubtful accounts and related reserves, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Allowance for doubtful accounts and related reserves | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Beginning Balance | $4,720 | $5,135 | $5,715 |
Expense/(Income) | 1,581 | 2,034 | 2,576 |
Write offs and Other, Net | -1,942 | -2,449 | -3,156 |
Ending Balance | $4,359 | $4,720 | $5,135 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (Stock options, USD $) | 12 Months Ended | ||
Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |
Stock options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Options outstanding | 905,316 | 905,316 | 924,815 |
Options granted | ' | ' | ' |
Options exercised | ' | ' | ' |
Options forfeited | ' | ' | ' |
Options expired | -120,816 | ' | -19,499 |
Options outstanding | 784,500 | 905,316 | 905,316 |
Options exercisable | 784,500 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' |
Options outstanding | $6.18 | $6.18 | $6.31 |
Options granted | ' | ' | ' |
Options exercised | ' | ' | ' |
Options forfeited | ' | ' | ' |
Options expired | $13.58 | ' | $12.53 |
Options outstanding | $5.05 | $6.18 | $6.18 |
Options exercisable | $5.05 | ' | ' |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (Stock options, USD $) | 12 Months Ended |
Jan. 04, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options, Outstanding | 784,500 |
Remaining Contractual Life (in Years), Outstanding Options | '4 years 1 month 6 days |
Number of Options, Exercisable | 784,500 |
Remaining Contractual Life (in Years), Exercisable Options | '4 years 1 month 6 days |
Price Range $4.66 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options, Outstanding | 750,000 |
Exercise price | 4.66 |
Weighted Average Exercise Price, Outstanding Options | 4.66 |
Remaining Contractual Life (in Years), Outstanding Options | '4 years 2 months 12 days |
Number of Options, Exercisable | 750,000 |
Weighted Average Exercise Price, Exercisable Options | 4.66 |
Remaining Contractual Life (in Years), Exercisable Options | '4 years 2 months 12 days |
Price Range $11.40-$14.01 | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Number of Options, Outstanding | 34,500 |
Price Range, Minimum | 11.4 |
Price Range, Maximum | 14.01 |
Weighted Average Exercise Price, Outstanding Options | 13.25 |
Remaining Contractual Life (in Years), Outstanding Options | '2 years 3 months 18 days |
Number of Options, Exercisable | 34,500 |
Weighted Average Exercise Price, Exercisable Options | 13.25 |
Remaining Contractual Life (in Years), Exercisable Options | '2 years 3 months 18 days |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details 2) (USD $) | 12 Months Ended | |||||
Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||
Restricted Stock | ' | ' | ' | |||
Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Nonvested Number of Shares [Roll Forward] | ' | ' | ' | |||
Outstanding | 3,554,738 | 2,361,424 | 1,914,288 | [1] | ||
Granted | 1,202,185 | [2] | 2,067,835 | 819,240 | ||
Vested | -2,587,452 | [2] | -681,484 | -364,303 | [1] | |
Forfeited | -551,188 | [2] | -193,037 | -7,801 | ||
Outstanding | 1,618,283 | [2] | 3,554,738 | 2,361,424 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | |||
Outstanding | $1.22 | $3.22 | $2.67 | [1] | ||
Granted | $3.15 | [2] | $1.52 | $3.14 | ||
Vested | $2.48 | [2] | $3.39 | $6.16 | [1] | |
Forfeited | $2.28 | [2] | $2.76 | $3.26 | ||
Outstanding | $2.50 | [2] | $1.22 | $3.22 | ||
Performance Shares | ' | ' | ' | |||
Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Nonvested Number of Shares [Roll Forward] | ' | ' | ' | |||
Outstanding | ' | ' | 240,835 | [1] | ||
Granted | 2,969,424 | [2] | ' | ' | ||
Vested | -627,320 | [2] | ' | -240,835 | [1] | |
Forfeited | -149,236 | [2] | ' | ' | ||
Outstanding | 2,192,868 | [2] | ' | ' | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' | |||
Granted | $2.95 | ' | ' | |||
Vested | $2.36 | ' | ' | |||
Forfeited | $3.13 | ' | ' | |||
Outstanding | $2.55 | ' | ' | |||
Restricted Stock Units (RSUs) | ' | ' | ' | |||
Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments Nonvested Number of Shares [Roll Forward] | ' | ' | ' | |||
Outstanding | ' | [3] | 49,350 | [3] | 127,950 | [1],[3] |
Granted | ' | [2],[3] | ' | [3] | ' | [3] |
Vested | ' | [2],[3] | -48,250 | [3] | -63,200 | [1],[3] |
Forfeited | ' | [2],[3] | -1,100 | [3] | -15,400 | [3] |
Outstanding | ' | [2],[3] | ' | [3] | 49,350 | [3] |
[1] | During fiscal 2011 certain performance shares vested and approximately $0.9 million was paid out to settle these awards. The fair value of these shares was marked to market each reporting period through the settlement date. | |||||
[2] | The performance shares granted in 2013 will be settled in shares of common stock of the Company. The weighted average fair value for performance shares granted, vested and forfeited was $2.95, $2.36, and $3.13, respectively. The weighted average fair value for performance shares outstanding as of January 4, 2014 is $2.55. | |||||
[3] | The restricted stock units were settled in cash. The fair value of these awards was marked-to-market each reporting period through the date of settlement. During fiscal 2012 and fiscal 2011, certain restricted stock units vested and approximately $0.1 million and $0.2 million, respectively, was paid out to settle these awards. |
StockBased_Compensation_Detail3
Stock-Based Compensation (Detail Textuals) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||
Jan. 04, 2014 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 04, 2014 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | Dec. 31, 2011 | Jan. 04, 2014 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | Jan. 04, 2014 | Dec. 31, 2010 | ||||
Stock-Based Compensation Expense | Stock-Based Compensation Expense | Stock-Based Compensation Expense | Stock-Based Compensation Expense | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Restricted Stock | Performance Shares | Performance Shares | Performance Shares | Performance Shares | Restricted Stock Units (RSUs) | Restricted Stock Units (RSUs) | Long term equity incentive plan 2004 | Long term equity incentive plan 2006 | Long term equity incentive plan 2006 | Long term equity incentive plan 2006 | Long term equity incentive plan 2006 | Long term equity incentive plan 2006 | |||||
Maximum | Minimum | Maximum | Minimum | Maximum | Stock-Based Compensation Expense | Stock-Based Compensation Expense | Restricted Stock | Restricted Stock | Restricted Stock | Performance share award 2008 | ||||||||||||||||
Officers and directors | Other executives | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,222,222 | 12,200,000 | ' | ' | ' | ' | |||
Number of restricted stock issued during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,202,185 | ' | ' | |||
Total unrecognized compensation expense | ' | ' | ' | ' | ' | $1,400,000 | $2,500,000 | ' | ' | ' | ' | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Weighted average term for compensation expense to be recognized | ' | ' | ' | ' | ' | '1 year 4 months 24 days | ' | ' | ' | ' | ' | '1 year 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Weighted average remaining contractual term | ' | '4 years 1 month 6 days | '4 years 10 months 24 days | ' | '10 years | '1 year 2 months 12 days | '1 year 4 months 24 days | ' | ' | '1 year | '3 years | '1 year 2 months 12 days | ' | '1 year | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock-based compensation expense | ' | 6,100,000 | 2,800,000 | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income tax benefits offset by a valuation allowance | ' | 2,400,000 | 1,100,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Share based compensation related to 2013 restructuring and change in executive leadership | ' | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total fair value of options vested | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total fair value of vested stocks | ' | ' | ' | ' | ' | 6,400,000 | 2,300,000 | 2,200,000 | ' | ' | ' | 1,500,000 | ' | ' | ' | 100,000 | 200,000 | ' | ' | ' | ' | ' | ' | |||
Benefits of tax deductions in excess of recognized compensation expense | 16,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Closing price of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.66 | |||
Number of restricted shares vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 627,320 | ' | ' | ' | ' | ' | ' | ' | 2,587,452 | 1,081,071 | 378,629 | ' | |||
Number of performance shares awarded | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,969,424 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Amount paid settle share based awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Weighted average fair value of shares granted | ' | ' | ' | ' | ' | $3.15 | [1] | $1.52 | $3.14 | ' | ' | ' | $2.95 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted average fair value of shares vested | ' | ' | ' | ' | ' | $2.48 | [1] | $3.39 | $6.16 | [2] | ' | ' | ' | $2.36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted average fair value of shares forfeited | ' | ' | ' | ' | ' | $2.28 | [1] | $2.76 | $3.26 | ' | ' | ' | $3.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Weighted average fair value of shares outstanding | ' | ' | ' | ' | ' | $2.50 | [1] | $1.22 | $3.22 | $2.67 | [2] | ' | ' | $2.55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | The performance shares granted in 2013 will be settled in shares of common stock of the Company. The weighted average fair value for performance shares granted, vested and forfeited was $2.95, $2.36, and $3.13, respectively. The weighted average fair value for performance shares outstanding as of January 4, 2014 is $2.55. | |||||||||||||||||||||||||
[2] | During fiscal 2011 certain performance shares vested and approximately $0.9 million was paid out to settle these awards. The fair value of these shares was marked to market each reporting period through the settlement date. |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Change in projected benefit obligation: | ' | ' | ' |
Projected benefit obligation at beginning of period | $114,330 | $99,425 | ' |
Service cost | 2,193 | 1,878 | 2,091 |
Interest cost | 4,750 | 4,885 | 4,609 |
Actuarial (gain) loss | -10,710 | 12,183 | ' |
Curtailment | -910 | ' | ' |
Benefits paid | -4,729 | -4,041 | ' |
Projected benefit obligation at end of period | 104,924 | 114,330 | 99,425 |
Change in plan assets: | ' | ' | ' |
Fair value of assets at beginning of period | 67,760 | 63,896 | ' |
Actual return on plan assets | 13,536 | 6,758 | ' |
Employer contributions | 472 | 1,147 | ' |
Benefits paid | -4,729 | -4,041 | ' |
Fair value of assets at end of period | 77,039 | 67,760 | 63,896 |
Net (unfunded) status of plan | ($27,885) | ($46,570) | ' |
Employee_Benefits_Details_1
Employee Benefits (Details 1) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Employee Benefits [Abstract] | ' | ' |
Unfunded status | ($27,885) | ($46,570) |
Unrecognized prior service cost | 1 | 2 |
Unrecognized actuarial loss | 14,656 | 37,459 |
Net amount recognized | -13,228 | -9,109 |
Amounts recognized on the balance sheet consist of: | ' | ' |
Accrued pension liability | -27,885 | -46,570 |
Accumulated other comprehensive loss (pre-tax) | 14,657 | 37,461 |
Net amount recognized | ($13,228) | ($9,109) |
Employee_Benefits_Details_2
Employee Benefits (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Net periodic pension cost | ' | ' | ' |
Service cost | $2,193 | $1,878 | $2,091 |
Interest cost on projected benefit obligation | 4,750 | 4,885 | 4,609 |
Expected return on plan assets | -5,225 | -4,897 | -5,505 |
Amortization of unrecognized loss | 2,873 | 2,077 | 579 |
Amortization of unrecognized prior service cost | ' | ' | ' |
Net periodic pension cost | $4,591 | $3,943 | $1,774 |
Employee_Benefits_Details_3
Employee Benefits (Details 3) | 12 Months Ended | ||
Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |
Projected benefit obligation: | ' | ' | ' |
Discount rate | 5.00% | 4.24% | ' |
Average rate of increase in future compensation levels | ' | 3.00% | ' |
Net periodic pension cost | ' | ' | ' |
Discount rate | 4.24% | 5.02% | 5.02% |
Average rate of increase in future compensation levels | 3.00% | 3.00% | ' |
Expected long-term rate of return on plan assets | 7.85% | 7.85% | ' |
Minimum | ' | ' | ' |
Projected benefit obligation: | ' | ' | ' |
Average rate of increase in future compensation levels | 2.50% | ' | ' |
Maximum | ' | ' | ' |
Projected benefit obligation: | ' | ' | ' |
Average rate of increase in future compensation levels | 5.50% | ' | ' |
Employee_Benefits_Details_4
Employee Benefits (Details 4) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Asset allocation structure of the portfolio | ' | ' | ' |
Percentage of fair value of total assets by asset category | 100.00% | 100.00% | ' |
Fair value of plan assets by asset category | $77,039 | $67,760 | $63,896 |
Equity securities - domestic | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Percentage of fair value of total assets by asset category | 55.00% | 56.00% | ' |
Equity securities - domestic | Level 1 | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Fair value of plan assets by asset category | 42,710 | 37,623 | ' |
Equity securities - international | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Percentage of fair value of total assets by asset category | 16.00% | 9.00% | ' |
Equity securities - international | Level 1 | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Fair value of plan assets by asset category | 12,067 | 6,304 | ' |
Fixed income | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Percentage of fair value of total assets by asset category | 24.00% | 31.00% | ' |
Fixed income | Level 1 | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Fair value of plan assets by asset category | 18,836 | 20,848 | ' |
Other | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Percentage of fair value of total assets by asset category | 5.00% | 4.00% | ' |
Other | Level 1 | ' | ' | ' |
Asset allocation structure of the portfolio | ' | ' | ' |
Fair value of plan assets by asset category | $3,426 | $2,985 | ' |
Employee_Benefits_Details_5
Employee Benefits (Details 5) (USD $) | Jan. 04, 2014 |
In Thousands, unless otherwise specified | |
Employee Benefits [Abstract] | ' |
3-Jan-15 | $4,998 |
2-Jan-16 | 5,332 |
31-Dec-16 | 5,641 |
30-Dec-17 | 5,914 |
29-Dec-18 | 6,206 |
Thereafter | $34,372 |
Employee_Benefits_Detail_Textu
Employee Benefits (Detail Textuals) (USD $) | 12 Months Ended | ||
Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |
Employee Benefits [Abstract] | ' | ' | ' |
Contribution to union administered multiemployer pension plans | $1,300,000 | $1,300,000 | $1,200,000 |
Unfunded status | 27,885,000 | 46,570,000 | ' |
Net adjustment to other comprehensive loss before tax | 22,800,000 | -8,200,000 | -15,000,000 |
Net adjustment to other comprehensive loss net of tax | 13,910,000 | -8,245,000 | -14,969,000 |
Estimated net loss expected to be amortized from accumulated other comprehensive loss into net periodic cost over the next fiscal year | 800,000 | ' | ' |
Accumulated benefit obligation for the hourly pension plan | 103,700,000 | 111,100,000 | ' |
Contributions to the hourly defined contribution plan | 100,000 | 100,000 | 100,000 |
Contributions to the salaried defined contribution plan | 1,100,000 | 1,000,000 | ' |
Net adjustment to other comprehensive loss tax effect | $8,900,000 | ' | ' |
Employee_Benefits_Detail_Textu1
Employee Benefits (Detail Textuals 1) | 12 Months Ended |
Jan. 04, 2014 | |
Asset allocation structure of the portfolio | ' |
Compound annualized risk free rate | 3.78% |
Expected overall portfolio return percentage | 8.35% |
Percentage of estimated expense | 0.50% |
Net long term rate of return | 7.85% |
Equities | ' |
Asset allocation structure of the portfolio | ' |
Asset allocation structure of the portfolio | 65.00% |
Equity securities - domestic | ' |
Asset allocation structure of the portfolio | ' |
Target allocations for fiscal 2013 | 50.00% |
Equity securities - international | ' |
Asset allocation structure of the portfolio | ' |
Target allocations for fiscal 2013 | 15.00% |
Fixed income | ' |
Asset allocation structure of the portfolio | ' |
Asset allocation structure of the portfolio | 30.00% |
Target allocations for fiscal 2013 | 30.00% |
Other | ' |
Asset allocation structure of the portfolio | ' |
Asset allocation structure of the portfolio | 5.00% |
Target allocations for fiscal 2013 | 5.00% |
Employee_Benefits_Detail_Textu2
Employee Benefits (Detail Textuals 2) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Jun. 29, 2013 | Jan. 04, 2014 |
Hourly Pension Plan | Hourly Pension Plan | |||
Payment | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Total defined benefit employer minimum required contribution | $6 | $3.20 | ' | ' |
Minimum required contribution for plan year, per quarter cash contributions during fiscal - 2014 | 1.5 | ' | ' | ' |
Deferred and amortized period for defined benefit plan contribution | ' | '5 years | ' | ' |
Number of minimum quarterly cash contributions during fiscal 2013 | ' | ' | ' | 3 |
Independent appraisals cost of land and buildings located in Charleston, S.C. and Buffalo, N.Y. | ' | ' | 6.8 | ' |
Lease back period for real property | ' | ' | '20 years | ' |
Lease back period extension options for real property | ' | ' | '5 years | ' |
Additional pension contribution, if waiver is not granted | 2.2 | ' | ' | ' |
Rent payments on monthly basis contributions in hourly pension plan | ' | ' | ' | $0.50 |
Employee_Benefits_Detail_Textu3
Employee Benefits (Detail Textuals 3) (USD $) | 12 Months Ended | ||
Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Decrease in the unfunded obligation | $18,700,000 | ' | ' |
Actuarial gain (loss) | 10,710,000 | -12,183,000 | ' |
Actual return on plan assets | 13,536,000 | 6,758,000 | ' |
Amount of decrease to liability related to freeze of our non union pension plan | 900,000 | ' | ' |
Amount of increase in the liability | 6,900,000 | ' | ' |
Employer contributions | 472,000 | 1,147,000 | ' |
Discount rate on projected benefit obligation | 5.00% | 4.24% | ' |
Change in the discount rate | 0.25% | ' | ' |
Revised discount rate | 5.25% | ' | ' |
Reduction in projected benefit obligation due to change in discount rate | 3,100,000 | ' | ' |
Discount rate on net periodic pension cost | 4.24% | 5.02% | 5.02% |
Net periodic pension costs | 4,600,000 | 3,900,000 | ' |
Average rate of increase in future compensation levels | ' | 3.00% | ' |
Change in estimated rate of future compensation increases | 0.25% | ' | ' |
Revised estimated rate of future compensation increases | 2.50% | ' | ' |
Increase in projected benefit obligation due to change in estimated rate of future compensation | 100,000 | ' | ' |
Recognized net gain (loss) due to curtailments | $900,000 | ' | ' |
Minimum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Average rate of increase in future compensation levels | 2.50% | ' | ' |
Revised estimated rate of future compensation increases | 2.75% | ' | ' |
Maximum | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Average rate of increase in future compensation levels | 5.50% | ' | ' |
Revised estimated rate of future compensation increases | 5.75% | ' | ' |
Inventory_Reserve_Accounts_Det
Inventory Reserve Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Inventory Reserve Accounts [Abstract] | ' | ' | ' |
Obsolescence/damaged inventory reserve, Beginning balance | $1,126 | $1,492 | $1,670 |
Obsolescence damaged inventory reserve, Expense | 4,783 | 3,625 | 2,309 |
Obsolescence/damaged inventory reserve, Write-offs and Other, net | -4,111 | -3,991 | -2,487 |
Obsolescence/damaged inventory reserve, Ending balance | 1,798 | 1,126 | 1,492 |
Lower of cost or market reserve, Beginning balance | ' | ' | ' |
Lower of cost or market reserve, Expense | 3,843 | ' | ' |
Lower of cost or market reserve, Write-offs and Other, net | -3,843 | ' | ' |
Lower of cost or market reserve, Ending balance | ' | ' | ' |
Revolving_Credit_Facilities_De
Revolving Credit Facilities (Detail Textuals) (USD $) | 1 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 27, 2013 | Jul. 22, 2011 | Jan. 04, 2014 | Jun. 28, 2013 | Mar. 29, 2013 | Jan. 04, 2014 | Dec. 29, 2012 | Jan. 04, 2014 | Dec. 29, 2012 |
U.S. | U.S. | U.S. | U.S. | U.S. | U.S. | ||||
Revolving credit facility | Revolving credit facility | Revolving credit facility | Revolving credit facility | Letters of credit | Letters of credit | ||||
PNC Bank National Association | Wells Fargo Bank | Wells Fargo Bank | Wells Fargo Bank | Wells Fargo Bank | Wells Fargo Bank | ||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. revolving credit facility maximum available credit less the uncommitted accordion feature | ' | ' | ' | ' | ' | $447.50 | ' | ' | ' |
Line of credit accordion credit | ' | ' | ' | ' | ' | 75 | ' | ' | ' |
Date of the final maturity of revolving credit facility | ' | ' | ' | ' | ' | 15-Apr-16 | ' | ' | ' |
Additional loan commitment | ' | ' | ' | 25 | ' | ' | ' | ' | ' |
Debt fees | ' | ' | ' | 0.1 | 2.8 | ' | ' | ' | ' |
Expenses related to right offering yet to be paid | ' | ' | 0.1 | ' | ' | ' | ' | ' | ' |
Net proceeds from rights offering | 38.6 | 58 | ' | ' | ' | ' | ' | ' | ' |
Shares issued to stockholders on rights offering | 22.9 | 28.6 | ' | ' | ' | ' | ' | ' | ' |
U.S. revolving credit facility maximum available credit | ' | ' | ' | ' | ' | 522.5 | ' | ' | ' |
Collateralized letter of credit securing insurance obligations | ' | ' | ' | ' | ' | ' | ' | 1.5 | ' |
Outstanding lines of credit | ' | ' | ' | ' | ' | 207.9 | 169.5 | ' | ' |
Revolving credit facility excess availability | ' | ' | ' | ' | ' | 44.5 | 86 | ' | ' |
Interest rate on revolving credit facility | ' | ' | ' | ' | ' | 3.70% | 4.10% | ' | ' |
Outstanding letters of credit | ' | ' | ' | ' | ' | ' | ' | 3.6 | 4.5 |
Covenant description | ' | ' | ' | ' | ' | 'As of January 4, 2014, our U.S. revolving credit facility, as amended, contains customary negative covenants and restrictions for asset based loans, including a requirement that we maintain a fixed charge coverage ratio of 1.1 to 1.0 in the event our excess availability falls below the greater of $31.8 million or the amount equal to 12.5% of the lesser of the borrowing base or $447.5 million (the "Excess Availability Threshold"). | ' | ' | ' |
Revolving credit facility fixed charge coverage ratio requirement | ' | ' | ' | ' | ' | '1.1 to 1.0 | ' | ' | ' |
Minimum amount of revolving credit facility excess availability threshold | ' | ' | ' | ' | ' | 31.8 | ' | ' | ' |
Percentage of revolving credit facility excess availability threshold | ' | ' | ' | ' | ' | 12.50% | ' | ' | ' |
Lowest level of fiscal month-end availability revolving credit facility | ' | ' | ' | ' | ' | $44.50 | ' | ' | ' |
Revolving_Credit_Facilities_De1
Revolving Credit Facilities (Detail Textuals 1) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 |
Line of Credit Facility [Line Items] | ' | ' |
Minimum amount of excess availability required to prevent lender maintained lock-box arrangement | $35 | ' |
U.S. | Revolving Credit Facility | Wells Fargo Bank | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Minimum amount of excess availability required to avoid lender dominion of our accounts | 37.1 | ' |
Minimum amount of excess availability required to avoid lender dominion of our accounts as a percentage of the revolving credit facility balance | 15.00% | ' |
Outstanding lines of credit | 207.9 | 169.5 |
Revolving credit facility excess availability | 44.5 | 86 |
Interest rate on revolving credit facility | 3.70% | 4.10% |
Bluelinx Building Products Canada Ltd | Canada | Revolving Credit Facility | CIBC Asset Based Lending Inc | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Outstanding lines of credit | 3.3 | 1.9 |
Revolving credit facility excess availability | 1.3 | 2 |
Interest rate on revolving credit facility | 4.00% | 4.00% |
Canadian minimum adjusted tangible net worth covenant | $3.90 | ' |
Canadian capital expenditures maximum percentage limit covenant | 120.00% | ' |
Mortgage_Details
Mortgage (Details) (USD $) | Jan. 04, 2014 |
In Thousands, unless otherwise specified | |
Mortgage outstanding principal balance | ' |
2014 | $2,761 |
2015 | 2,744 |
2016 | 181,438 |
2017 | ' |
2018 | ' |
Thereafter | ' |
Total | $186,943 |
Mortgage_Detail_Textuals
Mortgage (Detail Textuals) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 | Sep. 19, 2012 | Jan. 04, 2014 | Sep. 28, 2013 | Sep. 29, 2012 | Mar. 31, 2012 | Jan. 04, 2014 |
In Millions, unless otherwise specified | Mortgage | Mortgage | Mortgage | Mortgage | Mortgage | Mortgage | ||
Facility | ||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage loan with German American Capital Corporation | ' | ' | ' | $295 | ' | ' | ' | $295 |
Mortgage loan term | ' | ' | ' | ' | ' | ' | ' | '10 years |
Mortgage loan balance | 186.9 | 206 | ' | ' | ' | ' | ' | ' |
Distribution facilities | ' | ' | ' | ' | ' | ' | ' | 50 |
Mortgage interest rate | ' | ' | ' | 6.35% | ' | ' | ' | 6.35% |
Payment of indebtedness under the mortgage | ' | ' | 11.8 | ' | ' | ' | ' | ' |
Collateral to be remitted to mortgage company after amendment of mortgage | ' | ' | 10 | ' | ' | ' | ' | ' |
Collateral to be remitted to borrower after amendment of mortgage | ' | ' | 10 | ' | ' | ' | ' | ' |
Funds transferred as collateral in next twelve months | ' | ' | 13.2 | ' | ' | ' | ' | ' |
Funds transferred as collateral for mortgage loans remitted for use | ' | ' | 7.3 | ' | ' | ' | ' | ' |
Debt fees capitalized and amortized over the remaining term of the mortgage | ' | ' | 0.3 | ' | ' | ' | ' | ' |
Increase in restricted cash | ' | ' | ' | 1.9 | 8.4 | 12.8 | 0.3 | ' |
Amount held in collateral | ' | ' | ' | ' | ' | ' | ' | 6.3 |
Amount released to pay for usual and customary operating expenses | ' | ' | ' | ' | ' | ' | ' | $2.70 |
Derivatives_Detail_Textuals
Derivatives (Detail Textuals) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Jan. 04, 2014 |
Derivative [Line Items] | ' | ' |
Changes associated with the ineffective interest rate swap | $1,676 | ' |
Interest rate swap | ' | ' |
Derivative [Line Items] | ' | ' |
Fair value of interest swap liability | 0 | 0 |
Changes associated with the ineffective interest rate swap | 1,700 | ' |
Amortization of remaining accumulated other comprehensive loss of ineffective swap | 500 | ' |
Portion of net income related to reducing fair value of ineffective interest rate swap liability | $2,200 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Detail Textuals) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 |
In Millions, unless otherwise specified | ||
Discounted carrying value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Value of mortgage | $186.90 | $206 |
Fair value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Value of mortgage | $186.60 | $205.50 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Jan. 04, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies [Abstract] | ' |
2014 | $4,391 |
2015 | 3,968 |
2016 | 4,036 |
2017 | 4,060 |
2018 | 3,498 |
Thereafter | 10,060 |
Total | $30,013 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details 1) (USD $) | Jan. 04, 2014 |
In Thousands, unless otherwise specified | |
Long-term, non-cancelable capital leases principal payment | ' |
2014 | $1,753 |
2015 | 1,847 |
2016 | 1,746 |
2017 | 1,342 |
2018 | 1,406 |
Thereafter | 604 |
Total | 8,698 |
Long-term, non-cancelable capital leases interest payment | ' |
2014 | 509 |
2015 | 399 |
2016 | 273 |
2017 | 186 |
2018 | 95 |
Thereafter | 20 |
Total | $1,482 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Detail Textuals) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 |
Commitments and Contingencies [Abstract] | ' | ' |
Workers' compensation liability risk | $0.80 | ' |
Auto liability risk | 2 | ' |
Limit for other insurable risks, physical loss to property, excluding natural catastrophes (in dollars per occurrence) | 0.1 | ' |
Limits for other insurable risks, directors and officers (in dollars per occurrence) | 0.8 | ' |
Limits for other insurable risks, medical benefit plans (in dollars per occurrence) | 0.3 | ' |
Self insurance reserves | 6.9 | 7.2 |
Expense incurred related to workers compensation, auto, general liability and health and welfare reserves | 11.7 | 10.7 |
Payments related to workers compensation, auto, general liability and health and welfare reserves | $12 | $11.10 |
Commitments_and_Contingencies_4
Commitments and Contingencies (Detail Textuals 1) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Agreement | |||
Commitments And Contingencies [Line Items] | ' | ' | ' |
Total rental expense | $4.80 | $4.80 | $4.80 |
Carrying amount of capital leases related to trucks and trailors | 15.4 | 10.3 | 5 |
Net book value of capital leases related to trucks and trailors | $11.10 | $9.30 | $4 |
Percentages of employees represented by various labour unions | 33.00% | ' | ' |
Number of collective bargaining agreements | 36 | ' | ' |
Number of collective bargaining agreements up for renewal | 5 | ' | ' |
Minimum | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' |
Capital leases maturity period | '5 years | ' | ' |
Maximum | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' |
Capital leases maturity period | '6 years | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning balance | ($30,042) | ($21,900) | ($7,358) |
Other comprehensive loss (income) before reclassification, net of tax | -161 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 13,910 | ' | ' |
Current-period other comprehensive (loss) income, net of tax | 13,749 | -8,142 | -14,542 |
Ending balance, net of tax | -16,293 | -30,042 | -21,900 |
Foreign currency, net of tax | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning balance | 1,797 | 1,694 | 1,786 |
Other comprehensive loss (income) before reclassification, net of tax | -161 | ' | ' |
Amounts reclassified from accumulated other comprehensive loss, net of tax | ' | ' | ' |
Current-period other comprehensive (loss) income, net of tax | -161 | 103 | -92 |
Ending balance, net of tax | 1,636 | 1,797 | 1,694 |
Defined benefit pension plan, net of tax | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning balance | -32,051 | -23,806 | -8,837 |
Other comprehensive loss (income) before reclassification, net of tax | ' | ' | ' |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 13,910 | ' | ' |
Current-period other comprehensive (loss) income, net of tax | 13,910 | -8,245 | -14,969 |
Ending balance, net of tax | -18,141 | -32,051 | -23,806 |
Other, net of tax | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Beginning balance | 212 | 212 | -307 |
Other comprehensive loss (income) before reclassification, net of tax | ' | ' | ' |
Amounts reclassified from accumulated other comprehensive loss, net of tax | ' | ' | ' |
Current-period other comprehensive (loss) income, net of tax | ' | ' | 519 |
Ending balance, net of tax | $212 | $212 | $212 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jan. 04, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | |
Total, net of tax | $13,910 | |
Reclassifications out of accumulated other comprehensive loss | ' | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | |
Actuarial gain | 22,804 | [1] |
Tax impact | 8,894 | [2] |
Total, net of tax | $13,910 | |
[1] | This accumulated other comprehensive loss component is included in the computation of net periodic pension cost. Refer to Note 8 of the Notes to Consolidated Financial Statements for the required disclosures. | |
[2] | We allocated income tax expense to accumulated other comprehensive loss to the extent income was recorded in accumulated other comprehensive loss and we have a loss from continuing operations. Refer to Note 5 of the Notes to Consolidated Financial Statements for the required disclosures. |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Loss (Detail Textuals) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | ' | ' |
Other comprehensive income (loss), net | $13.70 | ($8.10) | ($14.50) |
Unaudited_Selected_Quarterly_F2
Unaudited Selected Quarterly Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $486,275 | [1] | $557,952 | [2] | $604,592 | [3] | $503,153 | [4] | $440,298 | [5] | $496,810 | [6] | $517,026 | [7] | $453,708 | [8] | $2,151,972 | $1,907,842 | $1,755,431 |
Gross profit | 54,348 | [1] | 62,492 | [2] | 55,185 | [3] | 56,458 | [4] | 52,119 | [5] | 60,531 | [6] | 63,188 | [7] | 54,232 | [8] | 228,483 | 230,070 | 210,149 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general, and administrative | 55,627 | [1] | 58,176 | [2] | 61,201 | [3] | 58,760 | [4] | 54,842 | [5] | 57,307 | [6] | 57,564 | [7] | 56,644 | [8] | 240,667 | 215,996 | 207,857 |
Gain from property insurance settlements | ' | [1] | ' | [2] | ' | [3] | ' | [4] | ' | [5] | ' | [6] | -476 | [7] | ' | [8] | ' | -476 | -1,230 |
(Gain) loss from sale of properties | -1,311 | [1] | -3,679 | [2] | ' | [3] | -230 | [4] | -204 | [5] | -9,151 | [6] | 48 | [7] | -578 | [8] | -5,220 | -9,885 | -10,604 |
Restructuring and other charges | 1,167 | [1] | 2,758 | [2] | 7,309 | [3] | 889 | [4] | ' | [5] | ' | [6] | ' | [7] | ' | [8] | ' | ' | ' |
Depreciation and amortization | 2,571 | [1] | 2,144 | [2] | 2,229 | [3] | 2,173 | [4] | 2,012 | [5] | 2,106 | [6] | 2,187 | [7] | 2,260 | [8] | 9,117 | 8,565 | 10,562 |
Operating (loss) income | -3,706 | [1] | 3,093 | [2] | -15,554 | [3] | -5,134 | [4] | -4,531 | [5] | 10,269 | [6] | 3,865 | [7] | -4,094 | [8] | -21,301 | 5,509 | -8,270 |
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | 6,998 | [1] | 6,918 | [2] | 6,916 | [3] | 7,192 | [4] | 6,756 | [5] | 7,294 | [6] | 7,325 | [7] | 6,782 | [8] | 28,024 | 28,157 | 30,510 |
Other expense (income) | 50 | [1] | 17 | [2] | 128 | [3] | 110 | [4] | 22 | [5] | -16 | [6] | 49 | [7] | -62 | [8] | -306 | 7 | -501 |
(Benefit from) provision for income taxes | -12,491 | [1] | -2,134 | [2] | -9,105 | [3] | -4,637 | [4] | -4,305 | [5] | 1,078 | [6] | -1,157 | [7] | -3,969 | [8] | -9,013 | 386 | 962 |
Tax valuation allowance | 4,194 | [1] | 1,498 | [2] | 8,813 | [3] | 4,850 | [4] | 4,366 | [5] | -1,155 | [6] | 1,354 | [7] | 4,174 | [8] | ' | ' | ' |
Net (loss) income | ($2,457) | [1] | ($3,206) | [2] | ($22,306) | [3] | ($12,649) | [4] | ($11,370) | [5] | $3,068 | [6] | ($3,706) | [7] | ($11,019) | [8] | ($40,618) | ($23,027) | ($38,567) |
Basic and diluted weighted average number of common shares outstanding (in shares) | 84,818,331 | [1] | 84,595,708 | [2] | 84,167,120 | [3] | 66,713,964 | [4] | 65,493,920 | [5] | 65,472,685 | [6] | 65,471,450 | [7] | 65,368,259 | [8] | 80,163,000 | 65,452,000 | 47,049,000 |
Basic and diluted net (loss) income per share applicable to common shares (in dollars per share) | ($0.03) | [1] | ($0.04) | [2] | ($0.27) | [3] | ($0.19) | [4] | ($0.17) | [5] | $0.04 | [6] | ($0.06) | [7] | ($0.17) | [8] | ($0.51) | ($0.35) | ($0.82) |
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Unaudited_Selected_Quarterly_F3
Unaudited Selected Quarterly Financial Data (Detail Textuals) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | |||||||||
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic and diluted weighted average number of common shares outstanding (in shares) | 84,818,331 | [1] | 84,595,708 | [2] | 84,167,120 | [3] | 66,713,964 | [4] | 65,493,920 | [5] | 65,472,685 | [6] | 65,471,450 | [7] | 65,368,259 | [8] | 80,163,000 | 65,452,000 | 47,049,000 |
Unvested share-based awards | 4,595,650 | 5,136,430 | 5,203,076 | 5,512,899 | 4,460,054 | ' | 4,515,590 | 4,519,590 | ' | ' | ' | ||||||||
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Supplemental_Condensed_Consoli2
Supplemental Condensed Consolidating Financial Statements (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Consolidating statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $486,275 | [1] | $557,952 | [2] | $604,592 | [3] | $503,153 | [4] | $440,298 | [5] | $496,810 | [6] | $517,026 | [7] | $453,708 | [8] | $2,151,972 | $1,907,842 | $1,755,431 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,923,489 | 1,677,772 | 1,545,282 | ||||||||
Gross profit | 54,348 | [1] | 62,492 | [2] | 55,185 | [3] | 56,458 | [4] | 52,119 | [5] | 60,531 | [6] | 63,188 | [7] | 54,232 | [8] | 228,483 | 230,070 | 210,149 |
Operating expenses (income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative | 55,627 | [1] | 58,176 | [2] | 61,201 | [3] | 58,760 | [4] | 54,842 | [5] | 57,307 | [6] | 57,564 | [7] | 56,644 | [8] | 240,667 | 215,996 | 207,857 |
Depreciation and amortization | 2,571 | [1] | 2,144 | [2] | 2,229 | [3] | 2,173 | [4] | 2,012 | [5] | 2,106 | [6] | 2,187 | [7] | 2,260 | [8] | 9,117 | 8,565 | 10,562 |
Total operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | 249,784 | 224,561 | 218,419 | ||||||||
Operating (loss) income | -3,706 | [1] | 3,093 | [2] | -15,554 | [3] | -5,134 | [4] | -4,531 | [5] | 10,269 | [6] | 3,865 | [7] | -4,094 | [8] | -21,301 | 5,509 | -8,270 |
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | 6,998 | [1] | 6,918 | [2] | 6,916 | [3] | 7,192 | [4] | 6,756 | [5] | 7,294 | [6] | 7,325 | [7] | 6,782 | [8] | 28,024 | 28,157 | 30,510 |
Changes associated with ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,676 | ||||||||
Other expense (income), net | -50 | [1] | -17 | [2] | -128 | [3] | -110 | [4] | -22 | [5] | 16 | [6] | -49 | [7] | 62 | [8] | 306 | -7 | 501 |
(Loss) income before provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -49,631 | -22,641 | -37,605 | ||||||||
Provision for (benefit from) income taxes | -12,491 | [1] | -2,134 | [2] | -9,105 | [3] | -4,637 | [4] | -4,305 | [5] | 1,078 | [6] | -1,157 | [7] | -3,969 | [8] | -9,013 | 386 | 962 |
Equity in (loss) income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | -2,457 | [1] | -3,206 | [2] | -22,306 | [3] | -12,649 | [4] | -11,370 | [5] | 3,068 | [6] | -3,706 | [7] | -11,019 | [8] | -40,618 | -23,027 | -38,567 |
BlueLinx Holdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Consolidating statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Operating expenses (income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 5,913 | 3,940 | 3,728 | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Total operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | 5,913 | 3,940 | 3,728 | ||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -5,913 | -3,940 | -3,728 | ||||||||
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes associated with ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
(Loss) income before provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -5,913 | -3,940 | -3,728 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -157 | 386 | 459 | ||||||||
Equity in (loss) income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -34,862 | -18,701 | -34,380 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -40,618 | -23,027 | -38,567 | ||||||||
BlueLinx Corporation and Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Consolidating statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,151,972 | 1,907,842 | 1,755,431 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,923,489 | 1,677,772 | 1,545,282 | ||||||||
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 228,483 | 230,070 | 210,149 | ||||||||
Operating expenses (income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 267,232 | 250,098 | 244,398 | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 5,700 | 5,040 | 6,790 | ||||||||
Total operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | 272,932 | 255,138 | 251,188 | ||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -44,449 | -25,068 | -41,039 | ||||||||
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 13,686 | 12,159 | 12,528 | ||||||||
Changes associated with ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,676 | ||||||||
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | 318 | 10 | 516 | ||||||||
(Loss) income before provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -58,453 | -37,237 | -52,407 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -9,248 | ' | 503 | ||||||||
Equity in (loss) income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -49,205 | -37,237 | -52,910 | ||||||||
LLC Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Consolidating statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 27,363 | 28,330 | 29,665 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 27,363 | 28,330 | 29,665 | ||||||||
Operating expenses (income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -5,115 | -9,712 | -10,604 | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 3,417 | 3,525 | 3,772 | ||||||||
Total operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | -1,698 | -6,187 | -6,832 | ||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 29,061 | 34,517 | 36,497 | ||||||||
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 14,338 | 15,998 | 17,982 | ||||||||
Changes associated with ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | -12 | -17 | -15 | ||||||||
(Loss) income before provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 14,735 | 18,536 | 18,530 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 392 | ' | ' | ||||||||
Equity in (loss) income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 14,343 | 18,536 | 18,530 | ||||||||
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Consolidating statement of operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | -27,363 | -28,330 | -29,665 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | -27,363 | -28,330 | -29,665 | ||||||||
Operating expenses (income): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -27,363 | -28,330 | -29,665 | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Total operating expenses (income) | ' | ' | ' | ' | ' | ' | ' | ' | -27,363 | -28,330 | -29,665 | ||||||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Non-operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes associated with ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other expense (income), net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
(Loss) income before provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Equity in (loss) income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 34,862 | 18,701 | 34,380 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | $34,862 | $18,701 | $34,380 | ||||||||
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Supplemental_Condensed_Consoli3
Supplemental Condensed Consolidating Financial Statements (Details 1) (USD $) | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | Jan. 01, 2011 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash | $5,034 | $5,188 | $4,898 | $14,297 |
Receivables | 150,297 | 157,465 | ' | ' |
Inventories | 223,580 | 230,059 | ' | ' |
Other current assets | 22,814 | 19,427 | ' | ' |
Intercompany receivable | ' | ' | ' | ' |
Total current assets | 401,725 | 412,139 | ' | ' |
Property and equipment: | ' | ' | ' | ' |
Land and land improvements | 41,176 | 43,120 | ' | ' |
Buildings | 90,082 | 94,070 | ' | ' |
Machinery and equipment | 73,004 | 78,674 | ' | ' |
Construction in progress | 3,028 | 1,173 | ' | ' |
Property and equipment, at cost | 207,290 | 217,037 | ' | ' |
Accumulated depreciation | -96,171 | -101,684 | ' | ' |
Property and equipment, net | 111,119 | 115,353 | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Non-current deferred income tax assets, net | 824 | 445 | ' | ' |
Other non-current assets | 16,578 | 16,799 | ' | ' |
Total assets | 530,246 | 544,736 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 60,363 | 77,850 | ' | ' |
Bank overdrafts | 19,377 | 35,384 | ' | ' |
Accrued compensation | 4,173 | 6,170 | ' | ' |
Current maturities of long-term debt | 9,141 | 8,946 | ' | ' |
Deferred income tax liabilities, net | 823 | 449 | ' | ' |
Other current liabilities | 12,949 | 10,937 | ' | ' |
Intercompany payable | ' | ' | ' | ' |
Total current liabilities | 106,826 | 139,736 | ' | ' |
Non-current liabilities: | ' | ' | ' | ' |
Long-term debt | 388,995 | 368,446 | ' | ' |
Other non-current liabilities | 40,323 | 57,146 | ' | ' |
Non-current deferred income taxes | ' | ' | ' | ' |
Total liabilities | 536,144 | 565,328 | ' | ' |
Stockholders' (deficit) equity/Parent's Investment | -5,898 | -20,592 | 8,374 | 991 |
Total liabilities and (deficit) equity | 530,246 | 544,736 | ' | ' |
BlueLinx Holdings Inc. | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash | 47 | 28 | 27 | 384 |
Receivables | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' |
Deferred income tax asset, net | ' | ' | ' | ' |
Other current assets | 790 | 1,596 | ' | ' |
Intercompany receivable | 68,454 | 73,981 | ' | ' |
Total current assets | 69,291 | 75,605 | ' | ' |
Property and equipment: | ' | ' | ' | ' |
Land and land improvements | ' | ' | ' | ' |
Buildings | ' | ' | ' | ' |
Machinery and equipment | ' | ' | ' | ' |
Construction in progress | ' | ' | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Investment in subsidiaries | -47,735 | -67,053 | ' | ' |
Non-current deferred income tax assets, net | ' | ' | ' | ' |
Other non-current assets | ' | ' | ' | ' |
Total assets | 21,556 | 8,552 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 1,080 | 203 | ' | ' |
Bank overdrafts | ' | ' | ' | ' |
Accrued compensation | ' | 127 | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' |
Deferred income tax liabilities, net | ' | ' | ' | ' |
Other current liabilities | ' | ' | ' | ' |
Intercompany payable | 26,374 | 28,814 | ' | ' |
Total current liabilities | 27,454 | 29,144 | ' | ' |
Non-current liabilities: | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other non-current liabilities | ' | ' | ' | ' |
Non-current deferred income taxes | ' | ' | ' | ' |
Total liabilities | 27,454 | 29,144 | ' | ' |
Stockholders' (deficit) equity/Parent's Investment | -5,898 | -20,592 | 8,374 | 991 |
Total liabilities and (deficit) equity | 21,556 | 8,552 | ' | ' |
BlueLinx Corporation and Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash | 4,987 | 5,160 | 4,871 | 13,913 |
Receivables | 150,297 | 157,465 | ' | ' |
Inventories | 223,580 | 230,059 | ' | ' |
Deferred income tax asset, net | ' | ' | ' | ' |
Other current assets | 20,208 | 17,790 | ' | ' |
Intercompany receivable | 26,374 | 28,814 | ' | ' |
Total current assets | 425,446 | 439,288 | ' | ' |
Property and equipment: | ' | ' | ' | ' |
Land and land improvements | 4,040 | 3,250 | ' | ' |
Buildings | 10,839 | 10,213 | ' | ' |
Machinery and equipment | 73,004 | 78,674 | ' | ' |
Construction in progress | 3,028 | 1,173 | ' | ' |
Property and equipment, at cost | 90,911 | 93,310 | ' | ' |
Accumulated depreciation | -64,557 | -71,583 | ' | ' |
Property and equipment, net | 26,354 | 21,727 | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Non-current deferred income tax assets, net | 1,221 | 445 | ' | ' |
Other non-current assets | 11,768 | 10,646 | ' | ' |
Total assets | 464,789 | 472,106 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 59,283 | 77,257 | ' | ' |
Bank overdrafts | 19,377 | 35,384 | ' | ' |
Accrued compensation | 4,173 | 6,043 | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' |
Deferred income tax liabilities, net | 1,220 | 449 | ' | ' |
Other current liabilities | 11,727 | 9,831 | ' | ' |
Intercompany payable | 68,454 | 73,981 | ' | ' |
Total current liabilities | 164,234 | 202,945 | ' | ' |
Non-current liabilities: | ' | ' | ' | ' |
Long-term debt | 211,193 | 171,412 | ' | ' |
Other non-current liabilities | 40,323 | 57,146 | ' | ' |
Non-current deferred income taxes | ' | ' | ' | ' |
Total liabilities | 415,750 | 431,503 | ' | ' |
Stockholders' (deficit) equity/Parent's Investment | 49,039 | 40,603 | 83,626 | 94,273 |
Total liabilities and (deficit) equity | 464,789 | 472,106 | ' | ' |
LLC Subsidiaries | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash | ' | ' | ' | ' |
Receivables | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' |
Deferred income tax asset, net | 397 | ' | ' | ' |
Other current assets | 1,816 | 41 | ' | ' |
Intercompany receivable | ' | ' | ' | ' |
Total current assets | 2,213 | 41 | ' | ' |
Property and equipment: | ' | ' | ' | ' |
Land and land improvements | 37,136 | 39,870 | ' | ' |
Buildings | 79,243 | 83,857 | ' | ' |
Machinery and equipment | ' | ' | ' | ' |
Construction in progress | ' | ' | ' | ' |
Property and equipment, at cost | 116,379 | 123,727 | ' | ' |
Accumulated depreciation | -31,614 | -30,101 | ' | ' |
Property and equipment, net | 84,765 | 93,626 | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' |
Non-current deferred income tax assets, net | ' | ' | ' | ' |
Other non-current assets | 4,810 | 6,153 | ' | ' |
Total assets | 91,788 | 99,820 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | ' | 390 | ' | ' |
Bank overdrafts | ' | ' | ' | ' |
Accrued compensation | ' | ' | ' | ' |
Current maturities of long-term debt | 9,141 | 8,946 | ' | ' |
Deferred income tax liabilities, net | ' | ' | ' | ' |
Other current liabilities | 1,222 | 1,106 | ' | ' |
Intercompany payable | ' | ' | ' | ' |
Total current liabilities | 10,363 | 10,442 | ' | ' |
Non-current liabilities: | ' | ' | ' | ' |
Long-term debt | 177,802 | 197,034 | ' | ' |
Other non-current liabilities | ' | ' | ' | ' |
Non-current deferred income taxes | 397 | ' | ' | ' |
Total liabilities | 188,562 | 207,476 | ' | ' |
Stockholders' (deficit) equity/Parent's Investment | -96,774 | -107,656 | -124,175 | -140,314 |
Total liabilities and (deficit) equity | 91,788 | 99,820 | ' | ' |
Eliminations | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash | ' | ' | ' | ' |
Receivables | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' |
Deferred income tax asset, net | -397 | ' | ' | ' |
Other current assets | ' | ' | ' | ' |
Intercompany receivable | -94,828 | -102,795 | ' | ' |
Total current assets | -95,225 | -102,795 | ' | ' |
Property and equipment: | ' | ' | ' | ' |
Land and land improvements | ' | ' | ' | ' |
Buildings | ' | ' | ' | ' |
Machinery and equipment | ' | ' | ' | ' |
Construction in progress | ' | ' | ' | ' |
Property and equipment, at cost | ' | ' | ' | ' |
Accumulated depreciation | ' | ' | ' | ' |
Property and equipment, net | ' | ' | ' | ' |
Investment in subsidiaries | 47,735 | 67,053 | ' | ' |
Non-current deferred income tax assets, net | -397 | ' | ' | ' |
Other non-current assets | ' | ' | ' | ' |
Total assets | -47,887 | -35,742 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' |
Bank overdrafts | ' | ' | ' | ' |
Accrued compensation | ' | ' | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' |
Deferred income tax liabilities, net | -397 | ' | ' | ' |
Other current liabilities | ' | ' | ' | ' |
Intercompany payable | -94,828 | -102,795 | ' | ' |
Total current liabilities | -95,225 | -102,795 | ' | ' |
Non-current liabilities: | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' |
Other non-current liabilities | ' | ' | ' | ' |
Non-current deferred income taxes | -397 | ' | ' | ' |
Total liabilities | -95,622 | -102,795 | ' | ' |
Stockholders' (deficit) equity/Parent's Investment | 47,735 | 67,053 | 40,549 | 46,041 |
Total liabilities and (deficit) equity | ($47,887) | ($35,742) | ' | ' |
Supplemental_Condensed_Consoli4
Supplemental Condensed Consolidating Financial Statements (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ($2,457) | [1] | ($3,206) | [2] | ($22,306) | [3] | ($12,649) | [4] | ($11,370) | [5] | $3,068 | [6] | ($3,706) | [7] | ($11,019) | [8] | ($40,618) | ($23,027) | ($38,567) |
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Depreciation and amortization | 2,571 | [1] | 2,144 | [2] | 2,229 | [3] | 2,173 | [4] | 2,012 | [5] | 2,106 | [6] | 2,187 | [7] | 2,260 | [8] | 9,117 | 8,565 | 10,562 |
Amortization of debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | 3,184 | 3,746 | 2,940 | ||||||||
Write-off of debt issuance costs | ' | ' | ' | 119 | ' | ' | ' | ' | 119 | ' | ' | ||||||||
Loss (gain) from sale of properties | -1,311 | [1] | -3,679 | [2] | ' | [3] | -230 | [4] | -204 | [5] | -9,151 | [6] | 48 | [7] | -578 | [8] | -5,220 | -9,885 | -10,604 |
Gain from property insurance settlement | ' | [1] | ' | [2] | ' | [3] | ' | [4] | ' | [5] | ' | [6] | -476 | [7] | ' | [8] | ' | -476 | -1,230 |
Changes associated with the ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,676 | ||||||||
Vacant property charges, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,321 | -30 | -291 | ||||||||
Severance charges | ' | ' | ' | ' | ' | ' | ' | ' | 5,607 | ' | ' | ||||||||
Gain on modification of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,971 | ||||||||
Payments on modification on lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | -300 | -5,875 | ' | ||||||||
Deferred income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -20 | -25 | ||||||||
Intraperiod income tax allocation related to hourly pension plan | ' | ' | ' | ' | ' | ' | ' | ' | -8,894 | ' | ' | ||||||||
Pension expense | ' | ' | ' | ' | ' | ' | ' | ' | 4,591 | 3,942 | 1,774 | ||||||||
Share-based compensation, excluding restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | 3,222 | 2,797 | 1,974 | ||||||||
Share-based compensation, restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | 2,895 | ' | ' | ||||||||
Increase in restricted cash related to insurance and other | ' | ' | ' | ' | ' | ' | ' | ' | -1,810 | 695 | 987 | ||||||||
Accrued compensation and other | ' | ' | ' | ' | ' | ' | ' | ' | -9,152 | -657 | -3,181 | ||||||||
Equity (deficit) in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intercompany receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intercompany payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Adjustments to reconcile net loss to cash used in operations, Total | ' | ' | ' | ' | ' | ' | ' | ' | -35,943 | -20,225 | -39,308 | ||||||||
Changes in primary working capital components: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Receivables | ' | ' | ' | ' | ' | ' | ' | ' | 7,168 | -18,593 | -19,670 | ||||||||
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | 6,479 | -44,482 | 2,673 | ||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -17,585 | 9,050 | 5,973 | ||||||||
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -39,881 | -74,250 | -50,332 | ||||||||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Property, plant and equipment investments | ' | ' | ' | ' | ' | ' | ' | ' | -4,912 | -2,826 | -6,533 | ||||||||
Proceeds from disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 10,365 | 19,195 | 18,355 | ||||||||
Net cash provided by (used in) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 5,453 | 16,369 | 11,822 | ||||||||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ||||||||
Repurchase of shares to satisfy employee tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | -3,192 | -526 | ' | ||||||||
Repayments on revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | -560,186 | -473,349 | -478,630 | ||||||||
Borrowings from revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | 599,968 | 550,270 | 475,918 | ||||||||
Payments of principal on mortgage | ' | ' | ' | ' | ' | ' | ' | ' | -19,038 | -37,272 | -42,416 | ||||||||
Payments on capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | -3,142 | -2,259 | -1,440 | ||||||||
(Decrease) increase in bank overdrafts | ' | ' | ' | ' | ' | ' | ' | ' | -16,007 | 13,020 | -725 | ||||||||
Increase (decrease) in restricted cash related to the mortgage | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 9,970 | 20,604 | ||||||||
Proceeds from rights/stock offering, less expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | 38,715 | ' | 58,521 | ||||||||
Debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | -2,900 | -1,683 | -2,721 | ||||||||
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 34,274 | 58,171 | 29,111 | ||||||||
Increase (decrease) in cash | ' | ' | ' | ' | ' | ' | ' | ' | -154 | 290 | -9,399 | ||||||||
Cash and cash equivalents balance, beginning of period | ' | ' | ' | ' | ' | ' | ' | 4,898 | 5,188 | 4,898 | 14,297 | ||||||||
Cash and cash equivalents balance, end of period | 5,034 | ' | ' | ' | 5,188 | ' | ' | ' | 5,034 | 5,188 | 4,898 | ||||||||
Supplemental cash flow information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income tax refunds (income taxes paid) during the period | ' | ' | ' | ' | ' | ' | ' | ' | -332 | -508 | -22 | ||||||||
Interest paid during the period | ' | ' | ' | ' | ' | ' | ' | ' | 24,706 | 24,288 | 28,098 | ||||||||
Noncash transactions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Capital leases | ' | ' | ' | ' | ' | ' | ' | ' | 5,069 | 5,238 | 3,131 | ||||||||
BlueLinx Holdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -40,618 | -23,027 | -38,567 | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Amortization of debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Write-off of debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss (gain) from sale of properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain from property insurance settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes associated with the ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Vacant property charges, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Severance charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain on modification of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on modification on lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deferred income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intraperiod income tax allocation related to hourly pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Pension expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based compensation, excluding restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | 904 | 528 | ' | ||||||||
Share-based compensation, restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase in restricted cash related to insurance and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accrued compensation and other | ' | ' | ' | ' | ' | ' | ' | ' | 684 | -971 | 167 | ||||||||
Equity (deficit) in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 34,862 | 18,701 | 34,380 | ||||||||
Intercompany receivable | ' | ' | ' | ' | ' | ' | ' | ' | 5,527 | -6,940 | -9,829 | ||||||||
Intercompany payable | ' | ' | ' | ' | ' | ' | ' | ' | -2,440 | 10,332 | 9,218 | ||||||||
Adjustments to reconcile net loss to cash used in operations, Total | ' | ' | ' | ' | ' | ' | ' | ' | -1,081 | -1,377 | -4,631 | ||||||||
Changes in primary working capital components: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | 779 | 42 | 102 | ||||||||
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -302 | -1,335 | -4,529 | ||||||||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -35,202 | 1,862 | -54,349 | ||||||||
Property, plant and equipment investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net cash provided by (used in) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -35,202 | 1,862 | -54,349 | ||||||||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repurchase of shares to satisfy employee tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | -3,192 | -526 | ' | ||||||||
Repayments on revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Borrowings from revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments of principal on mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
(Decrease) increase in bank overdrafts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase (decrease) in restricted cash related to the mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from rights/stock offering, less expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | 38,715 | ' | 58,521 | ||||||||
Debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 35,523 | -526 | 58,521 | ||||||||
Increase (decrease) in cash | ' | ' | ' | ' | ' | ' | ' | ' | 19 | 1 | -357 | ||||||||
Cash and cash equivalents balance, beginning of period | ' | ' | ' | ' | ' | ' | ' | 27 | 28 | 27 | 384 | ||||||||
Cash and cash equivalents balance, end of period | 47 | ' | ' | ' | 28 | ' | ' | ' | 47 | 28 | 27 | ||||||||
Supplemental cash flow information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income tax refunds (income taxes paid) during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest paid during the period | ' | ' | ' | ' | ' | ' | ' | ' | 13,480 | ' | ' | ||||||||
Noncash transactions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Capital leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
BlueLinx Corporation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -49,205 | -37,237 | -52,910 | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 5,700 | 5,040 | 6,790 | ||||||||
Amortization of debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | 1,841 | 2,471 | 1,983 | ||||||||
Write-off of debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | 119 | ' | ' | ||||||||
Loss (gain) from sale of properties | ' | ' | ' | ' | ' | ' | ' | ' | 554 | ' | ' | ||||||||
Gain from property insurance settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes associated with the ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,676 | ||||||||
Vacant property charges, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,321 | -30 | -291 | ||||||||
Severance charges | ' | ' | ' | ' | ' | ' | ' | ' | 5,607 | ' | ' | ||||||||
Gain on modification of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,971 | ||||||||
Payments on modification on lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | -300 | -5,875 | ' | ||||||||
Deferred income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -5 | -20 | -25 | ||||||||
Intraperiod income tax allocation related to hourly pension plan | ' | ' | ' | ' | ' | ' | ' | ' | -8,894 | ' | ' | ||||||||
Pension expense | ' | ' | ' | ' | ' | ' | ' | ' | 4,591 | 3,942 | 1,774 | ||||||||
Share-based compensation, excluding restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | 2,318 | 2,269 | 1,602 | ||||||||
Share-based compensation, restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | 2,895 | ' | ' | ||||||||
Increase in restricted cash related to insurance and other | ' | ' | ' | ' | ' | ' | ' | ' | -1,810 | 695 | 987 | ||||||||
Accrued compensation and other | ' | ' | ' | ' | ' | ' | ' | ' | -10,064 | 875 | ' | ||||||||
Equity (deficit) in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intercompany receivable | ' | ' | ' | ' | ' | ' | ' | ' | 2,440 | -10,332 | -9,727 | ||||||||
Intercompany payable | ' | ' | ' | ' | ' | ' | ' | ' | -5,527 | 6,940 | 9,094 | ||||||||
Adjustments to reconcile net loss to cash used in operations, Total | ' | ' | ' | ' | ' | ' | ' | ' | -48,419 | -31,262 | -44,370 | ||||||||
Changes in primary working capital components: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Receivables | ' | ' | ' | ' | ' | ' | ' | ' | 7,168 | -18,593 | -19,670 | ||||||||
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | 6,479 | -44,482 | 2,673 | ||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -17,973 | 8,619 | 5,871 | ||||||||
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -52,745 | -85,718 | -55,496 | ||||||||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 38,663 | 154 | 55,209 | ||||||||
Property, plant and equipment investments | ' | ' | ' | ' | ' | ' | ' | ' | -4,912 | -2,826 | -3,203 | ||||||||
Proceeds from disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,072 | 997 | 504 | ||||||||
Net cash provided by (used in) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 34,823 | -1,675 | 52,510 | ||||||||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ||||||||
Repurchase of shares to satisfy employee tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repayments on revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | -560,186 | -473,349 | -478,630 | ||||||||
Borrowings from revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | 599,968 | 550,270 | 475,918 | ||||||||
Payments of principal on mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | -3,142 | -2,259 | -1,440 | ||||||||
(Decrease) increase in bank overdrafts | ' | ' | ' | ' | ' | ' | ' | ' | -16,007 | 13,020 | -725 | ||||||||
Increase (decrease) in restricted cash related to the mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from rights/stock offering, less expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | -2,900 | ' | -1,179 | ||||||||
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 17,749 | 87,682 | -6,056 | ||||||||
Increase (decrease) in cash | ' | ' | ' | ' | ' | ' | ' | ' | -173 | 289 | -9,042 | ||||||||
Cash and cash equivalents balance, beginning of period | ' | ' | ' | ' | ' | ' | ' | 4,871 | 5,160 | 4,871 | 13,913 | ||||||||
Cash and cash equivalents balance, end of period | 4,987 | ' | ' | ' | 5,160 | ' | ' | ' | 4,987 | 5,160 | 4,871 | ||||||||
Supplemental cash flow information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income tax refunds (income taxes paid) during the period | ' | ' | ' | ' | ' | ' | ' | ' | -61 | 37 | 231 | ||||||||
Interest paid during the period | ' | ' | ' | ' | ' | ' | ' | ' | 11,226 | 9,309 | 10,783 | ||||||||
Noncash transactions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Capital leases | ' | ' | ' | ' | ' | ' | ' | ' | 5,069 | 5,238 | 3,131 | ||||||||
LLC Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 14,343 | 18,536 | 18,530 | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 3,417 | 3,525 | 3,772 | ||||||||
Amortization of debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | 1,343 | 1,275 | 957 | ||||||||
Write-off of debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss (gain) from sale of properties | ' | ' | ' | ' | ' | ' | ' | ' | -5,774 | -9,885 | -10,604 | ||||||||
Gain from property insurance settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | -476 | -1,230 | ||||||||
Changes associated with the ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Vacant property charges, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Severance charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain on modification of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on modification on lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deferred income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -397 | ' | ' | ||||||||
Intraperiod income tax allocation related to hourly pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Pension expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based compensation, excluding restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 372 | ||||||||
Share-based compensation, restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase in restricted cash related to insurance and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accrued compensation and other | ' | ' | ' | ' | ' | ' | ' | ' | 625 | -561 | -2,104 | ||||||||
Equity (deficit) in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intercompany receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Intercompany payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Adjustments to reconcile net loss to cash used in operations, Total | ' | ' | ' | ' | ' | ' | ' | ' | 13,557 | 12,414 | 9,693 | ||||||||
Changes in primary working capital components: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -391 | 389 | ' | ||||||||
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 13,166 | 12,803 | 9,693 | ||||||||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -3,461 | -2,016 | -860 | ||||||||
Property, plant and equipment investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,330 | ||||||||
Proceeds from disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | 9,293 | 18,198 | 17,851 | ||||||||
Net cash provided by (used in) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 5,832 | 16,182 | 13,661 | ||||||||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repurchase of shares to satisfy employee tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repayments on revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Borrowings from revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments of principal on mortgage | ' | ' | ' | ' | ' | ' | ' | ' | -19,038 | -37,272 | -42,416 | ||||||||
Payments on capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
(Decrease) increase in bank overdrafts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase (decrease) in restricted cash related to the mortgage | ' | ' | ' | ' | ' | ' | ' | ' | 40 | 9,970 | 20,604 | ||||||||
Proceeds from rights/stock offering, less expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,683 | -1,542 | ||||||||
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -18,998 | -28,985 | -23,354 | ||||||||
Increase (decrease) in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash and cash equivalents balance, beginning of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash and cash equivalents balance, end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental cash flow information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income tax refunds (income taxes paid) during the period | ' | ' | ' | ' | ' | ' | ' | ' | -271 | -545 | -253 | ||||||||
Interest paid during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,979 | 17,315 | ||||||||
Noncash transactions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Capital leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 34,862 | 18,701 | 34,380 | ||||||||
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Amortization of debt issue costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Write-off of debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Loss (gain) from sale of properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain from property insurance settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes associated with the ineffective interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Vacant property charges, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Severance charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gain on modification of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on modification on lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Deferred income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 397 | ' | ' | ||||||||
Intraperiod income tax allocation related to hourly pension plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Pension expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based compensation, excluding restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Share-based compensation, restructuring related | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase in restricted cash related to insurance and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accrued compensation and other | ' | ' | ' | ' | ' | ' | ' | ' | -397 | ' | -1,244 | ||||||||
Equity (deficit) in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -34,862 | -18,701 | -34,380 | ||||||||
Intercompany receivable | ' | ' | ' | ' | ' | ' | ' | ' | -7,967 | 17,272 | 19,556 | ||||||||
Intercompany payable | ' | ' | ' | ' | ' | ' | ' | ' | 7,967 | -17,272 | -18,312 | ||||||||
Adjustments to reconcile net loss to cash used in operations, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Changes in primary working capital components: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Receivables | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net cash (used in) provided by operating activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Property, plant and equipment investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from disposition of assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net cash provided by (used in) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repurchase of shares to satisfy employee tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Repayments on revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Borrowings from revolving credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments of principal on mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Payments on capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
(Decrease) increase in bank overdrafts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase (decrease) in restricted cash related to the mortgage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from rights/stock offering, less expenses paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Debt financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net cash provided by (used in) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Increase (decrease) in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash and cash equivalents balance, beginning of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cash and cash equivalents balance, end of period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental cash flow information: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net income tax refunds (income taxes paid) during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Interest paid during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Noncash transactions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Capital leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |
Supplemental_Condensed_Consoli5
Supplemental Condensed Consolidating Financial Statements (Details 3) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jan. 04, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jan. 04, 2014 | Dec. 29, 2012 | Dec. 31, 2011 | ||||||||
Supplemental Statement Of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | ' | ' | ' | ' | ' | ' | ' | $8,374 | ($20,592) | $8,374 | $991 | ||||||||
Net (loss) income | -2,457 | [1] | -3,206 | [2] | -22,306 | [3] | -12,649 | [4] | -11,370 | [5] | 3,068 | [6] | -3,706 | [7] | -11,019 | [8] | -40,618 | -23,027 | -38,567 |
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -161 | 103 | -92 | ||||||||
Unrealized (loss) income from pension plan, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | 13,910 | -8,245 | -14,969 | ||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 519 | ||||||||
Issuance of restricted stock, net of forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 19 | 7 | ||||||||
Issuance of performance shares | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ||||||||
Issuance of stock related to the rights offerings, net of expenses | ' | ' | ' | ' | ' | ' | ' | ' | 38,613 | ' | 58,521 | ||||||||
Compensation related to share-based grants | ' | ' | ' | ' | ' | ' | ' | ' | 6,117 | 2,730 | 2,158 | ||||||||
Impact of net settled shares for vested grants | ' | ' | ' | ' | ' | ' | ' | ' | -3,193 | -526 | -194 | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | -2 | -20 | ' | ||||||||
Net transactions with Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | -5,898 | ' | ' | ' | -20,592 | ' | ' | ' | -5,898 | -20,592 | 8,374 | ||||||||
BlueLinx Holdings Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental Statement Of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | ' | ' | ' | ' | ' | ' | ' | 8,374 | -20,592 | 8,374 | 991 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -40,618 | -23,027 | -38,567 | ||||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -161 | 103 | -92 | ||||||||
Unrealized (loss) income from pension plan, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | 13,910 | -8,245 | -14,969 | ||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 519 | ||||||||
Issuance of restricted stock, net of forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 19 | 7 | ||||||||
Issuance of performance shares | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ||||||||
Issuance of stock related to the rights offerings, net of expenses | ' | ' | ' | ' | ' | ' | ' | ' | 38,613 | ' | 58,521 | ||||||||
Compensation related to share-based grants | ' | ' | ' | ' | ' | ' | ' | ' | 6,117 | 2,730 | 2,158 | ||||||||
Impact of net settled shares for vested grants | ' | ' | ' | ' | ' | ' | ' | ' | -3,193 | -526 | -194 | ||||||||
Excess tax benefits from share-based compensation arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | -2 | -20 | ' | ||||||||
Net transactions with Parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | -5,898 | ' | ' | ' | -20,592 | ' | ' | ' | -5,898 | -20,592 | 8,374 | ||||||||
BlueLinx Corporation and Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental Statement Of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | ' | ' | ' | ' | ' | ' | ' | 83,626 | 40,603 | 83,626 | 94,273 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -49,205 | -37,237 | -52,910 | ||||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -161 | 103 | -92 | ||||||||
Unrealized (loss) income from pension plan, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | 13,910 | -8,245 | -14,969 | ||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 519 | ||||||||
Issuance of restricted stock, net of forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 19 | ' | ||||||||
Issuance of performance shares | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ||||||||
Issuance of stock related to the rights offerings, net of expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Compensation related to share-based grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Impact of net settled shares for vested grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net transactions with Parent | ' | ' | ' | ' | ' | ' | ' | ' | 43,880 | 2,337 | 56,805 | ||||||||
Balance | 49,039 | ' | ' | ' | 40,603 | ' | ' | ' | 49,039 | 40,603 | 83,626 | ||||||||
LLC Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental Statement Of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | ' | ' | ' | ' | ' | ' | ' | -124,175 | -107,656 | -124,175 | -140,314 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 14,343 | 18,536 | 18,530 | ||||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Unrealized (loss) income from pension plan, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of restricted stock, net of forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of performance shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Issuance of stock related to the rights offerings, net of expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Compensation related to share-based grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Impact of net settled shares for vested grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net transactions with Parent | ' | ' | ' | ' | ' | ' | ' | ' | 3,461 | -2,017 | -2,391 | ||||||||
Balance | -96,774 | ' | ' | ' | -107,656 | ' | ' | ' | -96,774 | -107,656 | -124,175 | ||||||||
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Supplemental Statement Of Stockholders' Equity [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Balance | ' | ' | ' | ' | ' | ' | ' | 40,549 | 67,053 | 40,549 | 46,041 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | 34,862 | 18,701 | 34,380 | ||||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 161 | -103 | 92 | ||||||||
Unrealized (loss) income from pension plan, net of taxes | ' | ' | ' | ' | ' | ' | ' | ' | -13,910 | 8,245 | 14,969 | ||||||||
Unrealized gain (loss) from cash flow hedge, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -519 | ||||||||
Issuance of restricted stock, net of forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | -6 | -19 | ' | ||||||||
Issuance of performance shares | ' | ' | ' | ' | ' | ' | ' | ' | -6 | ' | ' | ||||||||
Issuance of stock related to the rights offerings, net of expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Compensation related to share-based grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Impact of net settled shares for vested grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Other | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net transactions with Parent | ' | ' | ' | ' | ' | ' | ' | ' | -40,419 | -320 | -54,414 | ||||||||
Balance | $47,735 | ' | ' | ' | $67,053 | ' | ' | ' | $47,735 | $67,053 | $40,549 | ||||||||
[1] | During the three months ended January 4, 2014, basic and diluted weighted average shares were 84,818,331, respectively. Total share-based awards of 4,595,650 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[2] | During the three months ended September 28, 2013, basic and diluted weighted average shares were 84,595,708. Total share-based awards of 5,136,430 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[3] | During the three months ended June 29, 2013, basic and diluted weighted average shares were 84,167,120. Total share-based awards of 5,203,076 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[4] | During the three months ended March 30, 2013 basic and diluted weighted average shares were 66,713,964. Total share-based awards of 5,512,899 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[5] | During the three months ended December 29, 2012, basic and diluted weighted average shares were 65,493,920, respectively. Total share-based awards of 4,460,054 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[6] | During the three months ended September 29, 2012, basic and diluted weighted average shares were 65,472,685. | ||||||||||||||||||
[7] | During the three months ended June 30, 2012, basic and diluted weighted average shares were 65,471,450. Total share-based awards of 4,515,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. | ||||||||||||||||||
[8] | During the three months ended March 31, 2012, basic and diluted weighted average shares were 65,368,259. Total share-based awards of 4,519,590 were excluded from our diluted earnings per share calculation because they were anti-dilutive. |