Guarantor And Non-Guarantor Financial Information | 15. Guarantor and Non-Guarantor Financial Information Berry Plastics Corporation ("Issuer") has notes outstanding which are fully, jointly, severally, and unconditionally guaranteed by substantially all of Berry's domestic subsidiaries. Separate narrative information or financial statements of the guarantor subsidiaries have not been included because they are 100 Condensed Supplemental Consolidated Balance Sheet January 2, 2016 Parent Issuer Guarantor Subsidiaries Non— Guarantor Subsidiaries Eliminations Total Current assets 1 162 855 674 — 1,692 Intercompany receivable 376 3,122 — 63 (3,561) — Property, plant, and equipment, net — 77 1,342 878 — 2,297 Other assets 64 3,865 4,307 1,287 (5,802) 3,721 Total assets $ 441 $ 7,226 $ 6,504 $ 2,902 $ (9,363) $ 7,710 Current liabilities 77 184 440 345 — 1,046 Intercompany payable — — 3,455 106 (3,561) — Other long-term liabilities 431 6,158 81 61 — 6,731 Non-controlling interest 12 — — 12 (12) 12 Stockholders' equity (deficit) (79) 884 2,528 2,378 (5,790) (79) Total liabilities and stockholders' equity (deficit) $ 441 $ 7,226 $ 6,504 $ 2,902 $ (9,363) $ 7,710 September 26, 2015 Parent Issuer Guarantor Subsidiaries Non— Guarantor Subsidiaries Eliminations Total Current assets 162 257 767 197 — 1,383 Intercompany receivable 329 2,963 — 83 (3,375) — Property, plant and equipment, net — 79 1,111 104 — 1,294 Other assets 75 1,553 2,152 102 (1,531) 2,351 Total assets $ 566 $ 4,852 $ 4,030 $ 486 $ (4,906) $ 5,028 Current liabilities 57 205 366 77 — 705 Intercompany payable — — 3,375 — (3,375) — Other long-term liabilities 562 3,769 39 6 — 4,376 Non-controlling interest 12 — — — — 12 Stockholders' equity (deficit) (65) 878 250 403 (1,531) (65) Total liabilities and stockholders' equity (deficit) $ 566 $ 4,852 $ 4,030 $ 486 $ (4,906) $ 5,028 Condensed Supplemental Consolidated Statements of Operations Quarterly Period Ended January 2, 2016 Parent Issuer Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations Total Net sales $ — $ 150 $ 992 $ 470 $ — $ 1,612 Cost of goods sold — 123 815 382 — 1,320 Selling, general and administrative — 56 75 23 — 154 Amortization of intangibles — 2 26 8 — 36 Restructuring and impairment charges — — 15 1 — 16 Operating income (loss) — (31) 61 56 — 86 Other expense (income), net — (1) (4) 9 — 4 Interest expense, net — 9 46 20 — 75 Equity in net income of subsidiaries (7) (33) — — 40 — Income (loss) before income taxes 7 (6) 19 27 (40) 7 Income tax expense (benefit) 3 (8) — 12 (4) 3 Net income (loss) $ 4 $ 2 $ 19 $ 15 $ (36) $ 4 Comprehensive income (loss) $ 4 $ 5 $ 19 $ (14) $ (36) $ (22) Consolidating Statement of Cash Flows Cash Flow from Operating Activities $ — $ (30) $ 153 $ 68 $ — $ 191 Cash Flow from Investing Activities Additions to property, plant, and equipment — (3) (80) (10) — (93) Proceeds from sale of assets — — 4 — — 4 (Contributions) distributions to/from subsidiaries (7) (2,253) — — 2,260 — Intercompany advances (repayments) — (162) — — 162 — Acquisition of business, net of cash acquired — — (291) (1,995) — (2,286) Net cash from investing activities (7) (2,418) (367) (2,005) 2,392 (2,375) Cash Flow from Financing Activities Proceeds from long-term borrowings — 2,489 — 3 — 2,492 Purchase of non-controlling interest — — (66) — — (66) Proceeds from issuance of common stock 7 — — — — 7 Payment of tax receivable agreement (57) — — — — (57) Repayments on long-term borrowings — (70) — (30) — (100) Contribution from parent — — 291 1,969 (2,260) — Debt financing costs — (36) — — — (36) Changes in intercompany balances 57 — 7 98 (162) — Net cash provided from financing activities 7 2,383 232 2,040 (2,392) 2,240 Effect of exchange rate on cash — — — (2) — (2) Net change in cash — (65) 18 101 — 54 Cash and cash equivalents at beginning of period — 163 — 65 — 228 Cash and cash equivalents at end of period $ — $ 98 $ 18 $ 166 $ — $ 282 Quarterly Period Ended December 27, 2014 Non Guarantor Guarantor Parent Issuer Subsidiaries Subsidiaries Eliminations Total Net sales $ — $ 159 $ 948 $ 113 $ — $ 1,220 Cost of goods sold — 147 809 81 — 1,037 Selling, general and administrative — 16 59 10 — 85 Amortization of intangibles — 2 21 2 — 25 Restructuring and impairment charges — — 5 — — 5 Operating income (loss) — (6 ) 54 20 — 68 Other income, net — (1 ) — — — (1 ) Interest expense, net — 7 41 5 — 53 Equity in net income of subsidiaries (16 ) (28 ) — — 44 — Income (loss) before income taxes 16 16 13 15 (44 ) 16 Income tax expense (benefit) 3 2 — 1 (3 ) 3 Net income (loss) $ 13 $ 14 $ 13 $ 14 $ (41 ) $ 13 Comprehensive income (loss) $ 13 $ 13 $ 9 $ — $ (41 ) $ (6 ) Consolidating Statement of Cash Flows Cash Flow from Operating Activities $ — $ (16 ) $ 102 $ 14 $ — $ 100 Cash Flow from Investing Activities Additions to property, plant, and equipment — (3 ) (30 ) (2 ) — (35 ) Proceeds from sale of assets — — 10 — — 10 (Contributions) distributions to/from subsidiaries (7 ) 7 — — — — Intercompany advances (repayments) — 55 — — (55 ) — Acquisition of business, net of cash acquired — — — — — — Net cash from investing activities (7 ) 59 (20 ) (2 ) (55 ) (25 ) Cash Flow from Financing Activities Proceeds from long-term borrowings — — — — — — Proceeds from issuance of common stock 7 — — — — 7 Payment of tax receivable agreement (39 ) — — — — (39 ) Repayments on long-term borrowings — (115 ) — (1 ) — (116 ) Changes in intercompany balances 39 — (91 ) (3 ) 55 — Net cash provided from financing activities 7 (115 ) (91 ) (4 ) 55 (148 ) Effect of exchange rate on cash — — — (3 ) — (3 ) Net change in cash — (72 ) (9 ) 5 — (76 ) Cash and cash equivalents at beginning of period — 70 15 44 — 129 Cash and cash equivalents at end of period $ — $ (2 ) $ 6 $ 49 $ — $ 53 |