Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 28, 2013 | Nov. 05, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 28-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'Summit Materials, LLC | ' |
Entity Central Index Key | '0001571371 | ' |
Current Fiscal Year End Date | '--12-28 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $19,207 | $27,431 |
Accounts receivable, net | 127,036 | 100,298 |
Costs and estimated earnings in excess of billings | 32,504 | 11,575 |
Inventories | 96,231 | 92,977 |
Other current assets | 16,168 | 10,068 |
Total current assets | 291,146 | 242,349 |
Property, plant and equipment, less accumulated depreciation, depletion and amortization (September 28, 2013 - $199,061 and December 29, 2012 - $156,313) | 844,175 | 813,607 |
Goodwill | 195,240 | 179,120 |
Intangible assets, less accumulated amortization (September 28, 2013 - $1,393 and December 29, 2012 - $1,354) | 15,238 | 8,606 |
Other assets | 37,575 | 37,531 |
Total assets | 1,383,374 | 1,281,213 |
Current liabilities: | ' | ' |
Current portion of debt | 88,220 | 4,000 |
Current portion of acquisition-related liabilities | 10,533 | 9,525 |
Accounts payable | 77,725 | 61,634 |
Accrued expenses | 57,418 | 49,822 |
Billings in excess of costs and estimated earnings | 4,655 | 6,926 |
Total current liabilities | 238,551 | 131,907 |
Long-term debt | 659,498 | 635,843 |
Acquisition-related liabilities | 27,990 | 23,919 |
Other noncurrent liabilities | 83,531 | 84,266 |
Total liabilities | 1,009,570 | 875,935 |
Commitments and contingencies (see note 9) | ' | ' |
Redeemable noncontrolling interest | 23,300 | 22,850 |
Member's interest: | ' | ' |
Member's equity | 486,327 | 484,584 |
Accumulated deficit | -127,898 | -94,085 |
Accumulated other comprehensive loss | -9,130 | -9,130 |
Member's interest | 349,299 | 381,369 |
Noncontrolling interest | 1,205 | 1,059 |
Total member's interest | 350,504 | 382,428 |
Total liabilities, redeemable noncontrolling interest and member's interest | $1,383,374 | $1,281,213 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Property, plant and equipment, accumulated depreciation, depletion and accretion | $199,061 | $156,313 |
Intangible assets, accumulated amortization | $1,393 | $1,354 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Revenue: | ' | ' | ' | ' |
Product | $210,162 | $206,558 | $447,343 | $440,554 |
Service | 106,101 | 112,623 | 230,591 | 254,066 |
Total revenue | 316,263 | 319,181 | 677,934 | 694,620 |
Cost of revenue (excluding items shown separately below): | ' | ' | ' | ' |
Product | 145,605 | 150,807 | 327,536 | 337,774 |
Service | 79,678 | 88,372 | 175,662 | 206,948 |
Total cost of revenue | 225,283 | 239,179 | 503,198 | 544,722 |
General and administrative expenses | 33,822 | 29,269 | 107,219 | 95,186 |
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 |
Transaction costs | 711 | 233 | 3,175 | 1,765 |
Operating income | 37,895 | 33,249 | 9,765 | 2,093 |
Other income, net | -1,151 | -1,232 | -988 | -291 |
Loss on debt financings | ' | 85 | 3,115 | 8,245 |
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 |
Income (loss) from continuing operations before taxes | 24,515 | 19,805 | -34,742 | -49,278 |
Income tax expense (benefit) | 1,565 | 149 | -1,782 | -1,814 |
Income (loss) from continuing operations | 22,950 | 19,656 | -32,960 | -47,464 |
Loss from discontinued operations | -160 | -1,287 | -257 | -3,011 |
Net income (loss) | 22,790 | 18,369 | -33,217 | -50,475 |
Net income attributable to noncontrolling interest | 2,623 | 1,099 | 1,105 | 580 |
Net income (loss) attributable to member of Summit Materials, LLC | $20,167 | $17,270 | ($34,322) | ($51,055) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Cash flow from operating activities: | ' | ' |
Net loss | ($33,217) | ($50,475) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ' | ' |
Depreciation, depletion, amortization and accretion | 59,275 | 56,129 |
Share-based compensation expense | 1,743 | 2,149 |
Deferred income tax benefit | -2,685 | -854 |
Net loss on property, plant and equipment disposals | 7,709 | 977 |
Loss on debt financings | 2,989 | 8,245 |
Other | -79 | 472 |
(Increase) decrease in operating assets, net of acquisitions: | ' | ' |
Account receivable | -18,797 | -39,326 |
Inventories | 700 | -4,347 |
Costs and estimated earnings in excess of billings | -21,836 | -17,565 |
Other current assets | -1,046 | -4,260 |
Other assets | -800 | 2,596 |
Increase (decrease) in operating liabilities, net of acquisitions: | ' | ' |
Accounts payable | 10,919 | 18,865 |
Accrued expenses | -1,020 | 13,844 |
Billings in excess of costs and estimated earnings | -2,421 | 1,201 |
Other liabilities | -1,311 | 494 |
Net cash provided by (used for) operating activities | 123 | -11,855 |
Cash flow from investing activities: | ' | ' |
Acquisitions, net of cash acquired | -60,913 | -42,933 |
Purchases of property, plant and equipment | -53,659 | -36,812 |
Proceeds from the sale of property, plant and equipment | 8,642 | 4,244 |
Other | ' | 69 |
Net cash used for investing activities | -105,930 | -75,432 |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | 214,390 | 248,300 |
Payments on long-term debt | -111,884 | -177,892 |
Payments on acquisition-related liabilities | -4,923 | -4,067 |
Other | ' | -701 |
Net cash provided by financing activities | 97,583 | 65,640 |
Net decrease in cash | -8,224 | -21,647 |
Cash - beginning of period | 27,431 | 42,790 |
Cash - end of period | $19,207 | $21,143 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Redeemable Noncontrolling Interest and Member's Interest (USD $) | 9 Months Ended | 9 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Dec. 31, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Redeemable Noncontrolling Interest [Member] | Redeemable Noncontrolling Interest [Member] | Member's Equity [Member] | Member's Equity [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Other Comprehensive Loss [Member] | Noncontrolling Interest [Member] | Noncontrolling Interest [Member] | Total Member's Interest [Member] | Total Member's Interest [Member] | |
Beginning Balance | ' | $21,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ' | ' | 484,584 | 482,707 | -94,085 | -40,932 | -9,130 | -9,130 | -6,577 | -6,577 | 1,059 | 1,174 | 382,428 | 436,372 |
Beginning Balance | 22,850 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion | 450 | 600 | ' | ' | -450 | -600 | ' | ' | ' | ' | ' | ' | -450 | -600 |
Redemption value adjustment | -959 | ' | ' | ' | 959 | ' | ' | ' | ' | ' | ' | ' | 959 | ' |
Net income (loss) | 959 | 580 | ' | ' | -34,322 | -51,055 | ' | ' | ' | ' | 146 | ' | -34,176 | -51,055 |
Repurchase of member's interest | ' | ' | ' | -656 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -656 |
Share-based compensation | ' | ' | 1,743 | 2,149 | ' | ' | ' | ' | ' | ' | ' | ' | 1,743 | 2,149 |
Payment of dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -45 | ' | -45 |
Ending Balance | 23,300 | 22,480 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance | ' | ' | $486,327 | $484,200 | ($127,898) | ($92,587) | ($9,130) | ($9,130) | ($6,577) | ($6,577) | $1,205 | $1,129 | $350,504 | $386,165 |
Summary_of_Organization_and_Si
Summary of Organization and Significant Accounting Policies | 9 Months Ended | |
Sep. 28, 2013 | ||
Accounting Policies [Abstract] | ' | |
Summary of Organization and Significant Accounting Policies | ' | |
1 | SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES | |
Summit Materials, LLC (the “Company”) is a vertically integrated heavy-side building materials company. Across its subsidiaries, it is engaged in the manufacture and sale of aggregates, cement, hot-mix asphalt and ready-mixed concrete. The Company owns and operates quarries, sand and gravel pits, a cement plant, cement distribution terminals, asphalt plants, ready–mixed concrete plants and landfill sites. It is also engaged in road paving and related construction services. The Company is organized by geographic region and has three operating segments, which are also its reporting segments: the Central; West; and East regions. | ||
The Company is a wholly owned indirect subsidiary of Summit Materials Holdings L.P., whose major indirect owners are certain investment funds affiliated with Blackstone Capital Partners V L.P. (“BCP”). The Company has several subsidiaries, which have individually made a number of acquisitions since the Company was formed in August 2009. | ||
The consolidated financial statements of the Company include the accounts of Summit Materials, LLC, and its wholly and non-wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. | ||
Basis of Presentation — These consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. The consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as of and for the year ended December 29, 2012. The Company continues to follow the accounting policies set forth in those consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of September 28, 2013, the results of operations for the three and nine month periods ended September 28, 2013 and September 29, 2012 and cash flows for the nine month periods ended September 28, 2013 and September 29, 2012. | ||
The Company’s fiscal quarters are based on a 4-4-5 schedule; each quarter is composed of 13 weeks and ends on a Saturday. The Company’s third quarter ended on September 28 and September 29 in 2013 and 2012, respectively. In 2013, Continental Cement Company, L.L.C. (“Continental Cement”), an indirect majority owned subsidiary of the Company. changed its fiscal year to be consistent with the Company’s fiscal year. Prior to fiscal 2013, Continental Cement’s fiscal year was based on the calendar with quarter-end dates of March 31, June 30, September 30 and December 31. The effect of this change to the Company’s financial position, results of operations and liquidity is immaterial. | ||
Substantially all of the Company’s products and services are produced, consumed and performed outdoors, primarily in the spring, summer and fall. Seasonal changes and other weather-related conditions can affect the production and sales volumes of its products and delivery of its services. Therefore, the financial results for any interim period do not necessarily indicate the results expected for the full year. Furthermore, the Company’s sales and earnings are sensitive to national, regional and local economic conditions and to cyclical changes in construction spending, among other factors. | ||
Use of Estimates — Preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures herein. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangibles and other long-lived assets, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts; most of the Company’s construction work is performed under fixed unit-price contracts with state and local governmental entities. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management adjusts such estimates and assumptions when circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the Company’s consolidated financial statements for the period in which the change in estimate occurs. | ||
Business and Credit Concentrations — The operations of the Company are conducted primarily across 18 states, with the most significant revenue generated in Texas, Kansas, Kentucky, Missouri and Utah. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Collection of these accounts is, therefore, dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. However, credit granted within the Company’s trade areas has been granted to a wide variety of customers, and management does not believe that any significant concentrations of credit exist with respect to individual customers or groups of customers. No single customer accounted for more than 10% of total revenue in the three and nine month periods ended September 28, 2013 or September 29, 2012. | ||
Fair Value Measurements — Certain acquisitions made by the Company require the payment of contingent amounts of purchase consideration. These payments are contingent on specified operating results being achieved in periods subsequent to the acquisition and will not be made if earn-out thresholds are not achieved. Contingent consideration obligations are measured at fair value each reporting period, and any adjustments to fair value are recognized in earnings in the period identified. As of September 28, 2013, contingent consideration obligations of $1.9 million were included in the non-current portion of acquisition-related liabilities. As of December 29, 2012, contingent consideration obligations of $0.7 million and $1.9 million were included in current and non-current acquisition-related liabilities, respectively. | ||
The fair value of the contingent consideration obligations approximate their carrying value of $1.9 million and $2.6 million as of September 28, 2013 and December 29, 2012, respectively. The fair values are based on unobservable, or Level 3, inputs, including projected probability-weighted cash payments and a 9.2% discount rate, which reflects the Company’s credit risk. Changes in fair value may occur as a result of a change in actual or projected cash payments, the probability weightings applied by the Company to projected payments or a change in the discount rate. Significant increases or decreases in any of these inputs in isolation could result in a lower, or higher, fair value measurement. There were no adjustments to the fair value of contingent consideration in the three or nine month periods ended September 28, 2013 and September 29, 2012. | ||
Financial Instruments — The Company’s financial instruments include certain acquisition-related liabilities (deferred consideration and noncompete obligations) and debt. The fair value of the deferred consideration and noncompete obligations approximate their carrying value of $30.3 million and $6.3 million, respectively, as of September 28, 2013, and $23.4 million and $7.4 million, respectively, as of December 29, 2012. The fair value was determined based on unobservable, or Level 3, inputs, including the cash payment terms in the purchase agreements and a discount rate reflecting the Company’s credit risk. | ||
The fair value of long-term debt approximated $685.9 million and $670.7 million as of September 28, 2013 and December 29, 2012, respectively, compared to its carrying value of $663.7 million and $639.8 million, respectively. Fair value was determined based on observable, or Level 2, inputs, such as interest rates, bond yields and quoted prices in inactive markets. | ||
Redeemable Noncontrolling Interest — The Company owns all of the outstanding Class A Units of Continental Cement, which represent a 69.7% economic interest. Continental Cement’s Class B Units, which represent a 30.3% economic interest, are subordinate to the Class A Units. The Class B Units can be put to Continental Cement in the future based on the passage of time, which can be accelerated upon the occurrence of a contingent event; therefore, the noncontrolling interest of the Class B unit holders is classified in temporary equity. The redemption value was based upon the estimated fair value of Continental Cement at the date of acquisition and the Company has elected to accrete changes in the redemption value of the noncontrolling interest over the period from the date of issuance to the earliest anticipated redemption date, which is currently May 2016, using an interest method. The accretion is recognized through an adjustment to accumulated deficit. The redemption value of the redeemable noncontrolling interest as of September 28, 2013 approximated its carrying value. |
Acquisitions
Acquisitions | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisitions | ' | ||||||||
2 | ACQUISITIONS | ||||||||
2013 Acquisitions | |||||||||
Central region | |||||||||
• | On April 1, 2013, the Company acquired certain aggregates, ready-mixed concrete and asphalt assets of Lafarge North America, Inc. in and around Wichita, Kansas, with borrowings under the Company’s revolving credit facility. | ||||||||
West region | |||||||||
• | On April 1, 2013, the Company acquired all of the membership interests of Westroc, LLC, an aggregates and ready-mixed concrete provider near Salt Lake City, Utah, with borrowings under the Company’s revolving credit facility. | ||||||||
2012 Acquisitions | |||||||||
Central region | |||||||||
• | On February 29, 2012, the Company acquired certain assets of Norris Quarries, LLC (“Norris”), an aggregates business in northwest Missouri, with proceeds from debt, including the Company’s revolving credit facility. | ||||||||
West region | |||||||||
• | On November 30, 2012, the Company acquired all of the stock of Sandco, Inc. (“Sandco”), an aggregates and ready-mixed concrete business in Colorado, with cash on-hand. | ||||||||
East region | |||||||||
• | On October 5, 2012, the Company acquired certain assets of Kay & Kay Contracting, LLC (“Kay & Kay”), an aggregates, asphalt and paving business in Kentucky, with cash on-hand. | ||||||||
The operating results of the acquired businesses have been included in the Company’s results of operations since the respective dates of the acquisitions. Assets acquired and liabilities assumed are measured at their acquisition-date fair value. The goodwill recognized in connection with the Company’s acquisitions is primarily attributable to the expected profitability, assembled workforces and operational infrastructure of the acquired businesses and the synergies expected to result after integration of those acquired businesses. | |||||||||
The purchase price allocations for the Norris and Kay & Kay acquisitions has been finalized. However, the purchase price allocations for Sandco and the 2013 acquisitions has not been finalized due to the recent timing of the acquisitions. The following table summarizes the fair value of the assets acquired and liabilities assumed in conjunction with the 2013 and 2012 acquisitions: | |||||||||
Nine months ended | Year ended | ||||||||
September 28, 2013 | December 29, 2012 | ||||||||
Financial assets | $ | 8,244 | $ | 1,403 | |||||
Inventories | 3,954 | 6,988 | |||||||
Property, plant and equipment | 40,009 | 21,508 | |||||||
Intangible assets (1) | 7,253 | 3,172 | |||||||
Other assets | 51 | 1,330 | |||||||
Financial liabilities | (6,082 | ) | (944 | ) | |||||
Other long-term liabilities | (1,016 | ) | (364 | ) | |||||
Net assets acquired | 52,413 | 33,093 | |||||||
Goodwill from current period acquisitions and working capital adjustments | 16,120 | 26,259 | |||||||
Purchase price | 68,533 | 59,352 | |||||||
Noncash transactions: | |||||||||
Acquisition related liabilities | (7,902 | ) | (10,547 | ) | |||||
Other | 282 | (48 | ) | ||||||
Total noncash transactions | (7,620 | ) | (10,595 | ) | |||||
Net cash paid for acquisitions | $ | 60,913 | $ | 48,757 | |||||
(1) | Intangible assets acquired relate to aggregate reserves to which the Company has the rights of ownership, but do not own the reserves and the differential between contractual lease rates and market rates for leases of aggregate reserves and office space. The acquired intangible assets have a weighted-average life of 21 years. | ||||||||
Pro Forma Financial Information—The following unaudited supplemental pro forma information presents the financial results as if the 2012 acquisitions occurred on January 1, 2011. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisitions been made on January 1, 2011, nor is it indicative of any future results. The 2013 acquisitions were not material individually or in the aggregate. | |||||||||
Three months ended | Nine months ended | ||||||||
September 29, 2012 | September 29, 2012 | ||||||||
Revenue | $ | 326,954 | $ | 708,230 | |||||
Net income (loss) | 19,008 | (48,306 | ) |
Goodwill
Goodwill | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill | ' | ||||||||||||||||
3 | GOODWILL | ||||||||||||||||
Changes in the carrying amount of goodwill, by reportable segment, from December 29, 2012 to September 28, 2013 are summarized as follows: | |||||||||||||||||
Central | West | East | Total | ||||||||||||||
Balance, December 29, 2012 | $ | 72,789 | $ | 91,393 | $ | 14,938 | $ | 179,120 | |||||||||
Acquisitions (i) | — | 16,120 | — | 16,120 | |||||||||||||
Balance, September 28, 2013 | $ | 72,789 | $ | 107,513 | $ | 14,938 | $ | 195,240 | |||||||||
(i) | Includes goodwill from 2013 acquisitions, a working capital settlement of $1.9 million that is clearly and directly associated with purchase price consideration and working capital adjustments. |
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
4 | DISCONTINUED OPERATIONS | ||||||||||||||||
The Company’s discontinued operations include a railroad construction and repair business (referred to herein as railroad), environmental remediation operations and certain concrete paving operations. The concrete paving operations were wound down in the second quarter of 2013; management expects the related assets to be sold within the subsequent twelve months. As of September 28, 2013, $3.7 million of assets were included in other current assets on the consolidated balance sheet related to the discontinued concrete paving operations. The railroad business involved building and repairing railroad sidings. The environmental remediation operations primarily involved the repair of retaining walls along highways in Kentucky and the removal and remediation of underground fuel storage tanks. The railroad and environmental remediation operations were sold in 2012 in separate transactions for aggregate proceeds of $3.1 million. Prior to recognition as discontinued operations, all of these businesses were included in the East region’s operations. | |||||||||||||||||
Debt and interest expense were not allocated to discontinued operations since there was no debt specifically attributable to the operations. The businesses included in discontinued operations are organized within a limited liability company and pass their tax attributes for federal and state tax purposes to their parent company. Revenue and loss before income tax expense included in discontinued operations for the three and nine month periods ended September 28, 2013 and September 29, 2012 are summarized below: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 (1) | 2012 (2) | 2013 (1) | 2012 (2) | ||||||||||||||
Revenue | $ | 203 | $ | 17,815 | $ | 4,008 | $ | 43,715 | |||||||||
Loss from discontinued operations before income tax expense | (160 | ) | (1,287 | ) | (257 | ) | (3,011 | ) | |||||||||
(1) | Consists of concrete paving operations (railroad and environmental remediation operations were sold in 2012) | ||||||||||||||||
(2) | Consists of concrete paving, railroad and environmental remediation operations |
Accounts_Receivable_Net
Accounts Receivable, Net | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Accounts Receivable, Net | ' | ||||||||
5 | ACCOUNTS RECEIVABLE, NET | ||||||||
Accounts receivable, net consists of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Trade accounts receivable | $ | 114,195 | $ | 88,637 | |||||
Retention receivables | 14,644 | 13,181 | |||||||
Receivables from related parties | 1,307 | 1,871 | |||||||
Accounts receivable | 130,146 | 103,689 | |||||||
Less: Allowance for doubtful accounts | (3,110 | ) | (3,391 | ) | |||||
Accounts receivable, net | $ | 127,036 | $ | 100,298 | |||||
Retention receivables are amounts earned by the Company but held by customers until construction contracts and projects have been fully completed or near completion. Amounts are expected to be billed and collected within a year. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
6 | INVENTORIES | ||||||||
Inventories consist of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Aggregate stockpiles | $ | 70,857 | $ | 62,872 | |||||
Finished goods | 9,368 | 9,342 | |||||||
Work in process | 2,798 | 2,679 | |||||||
Raw materials | 13,208 | 18,084 | |||||||
Total | $ | 96,231 | $ | 92,977 | |||||
Debt
Debt | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt | ' | ||||||||
7 | DEBT | ||||||||
Debt consists of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Senior secured credit facility, revolver (1) | $ | 84,000 | $ | — | |||||
Long-term debt: | |||||||||
$250.0 million senior notes, net of discount of $4.2 million at September 28, 2013 and $4.7 million at December 29, 2012 | 245,800 | 245,303 | |||||||
$420.9 million senior secured credit facility, term loan net of discount of $3.0 million at September 28, 2013 and $3.5 million at December 29, 2012 | 417,918 | 394,540 | |||||||
Total | 663,718 | 639,843 | |||||||
Current portion of long-term debt | 4,220 | 4,000 | |||||||
Long-term debt | $ | 659,498 | $ | 635,843 | |||||
-1 | Five-year revolving senior secured credit facility due in 2017. | ||||||||
The contractual payments of long-term debt, including current maturities, for the five years subsequent to September 28, 2013, are as follows: | |||||||||
2013 (three months) | $ | 1,055 | |||||||
2014 | 4,220 | ||||||||
2015 | 4,220 | ||||||||
2016 | 5,275 | ||||||||
2017 | 4,220 | ||||||||
2018 | 3,165 | ||||||||
Thereafter | 648,790 | ||||||||
Total | 670,945 | ||||||||
Less: Original issue discount | (7,227 | ) | |||||||
Total debt | $ | 663,718 | |||||||
Accrued interest on long-term debt as of September 28, 2013 and December 29, 2012 was $10.6 million and $19.7 million, respectively. Interest expense related to debt totaled $12.9 million and $37.5 million for the three and nine month periods ended September 28, 2013, respectively, and $13.5 million and $39.1 million for the three and nine month periods ended September 29, 2012, respectively. | |||||||||
Summit Materials and Summit Materials Finance Corp. issued $250.0 million aggregate principal amount of 10.5% Senior Notes due January 31, 2020 (“Senior Notes”) under an indenture dated as of January 30, 2012 (as amended and supplemented, the “Indenture”). In addition to the Senior Notes, the Company has a credit facility which provides for term loans in an aggregate amount of $422.0 million and revolving credit commitments in an aggregate amount of $150.0 million (the “Senior Secured Credit Facility”). The debt was initially issued with an original issuance discount of $9.5 million, which was recorded as a reduction to debt and is being accreted with a charge to earnings over the term of the debt. | |||||||||
Senior Notes — The Senior Notes bear interest at 10.5% per year, payable semi-annually in arrears; interest payments commenced on July 31, 2012. The Indenture contains covenants limiting, among other things, the Company and its restricted subsidiaries’ ability to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. The Indenture also contains customary events of default. As of September 28, 2013 and December 29, 2012, the Company was in compliance with all covenants. | |||||||||
Senior Secured Credit Facility — Under the Senior Secured Credit Facility, the Company has entered into term loans totaling $422.0 million with required principal repayments of 0.25% of term debt due on the last business day of each March, June, September and December. In February 2013, the Company consummated a repricing, which included additional borrowings of $25.0 million, an interest rate reduction of 1.0% and a deferral of the March 2013 principal payment. The unpaid principal balance is due in full on the maturity date, which is January 30, 2019. | |||||||||
Under the Senior Secured Credit Facility, the Company has revolving credit commitments of $150.0 million. The revolving credit facility matures on January 30, 2017 and bears interest per annum equal to an applicable margin of 3.5% plus, at the Company’s option, either (i) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate of Bank of America, N.A. and (c) the British Bankers Association London Interbank Offered Rate (“LIBOR”) plus 1.00% or (ii) a British Bankers Association LIBOR rate determined by reference to Reuters prior to the interest period relevant to such borrowing adjusted for certain additional costs. The interest rate in effect at September 28, 2013 was 3.7%. | |||||||||
There was $84.0 million outstanding under the revolver facility as of September 28, 2013, leaving remaining borrowing capacity of $47.7 million, which is net of $18.3 million of outstanding letters of credit. The outstanding letters of credit are renewed annually and support required bonding on construction projects and the Company’s insurance liabilities. | |||||||||
The Company must adhere to certain financial covenants related to its debt and interest leverage ratios, as defined in the Senior Secured Credit Facility. The consolidated first lien net leverage ratio, reported each quarter, should be no greater than 4.75:1.0 from April 1, 2012 through June 30, 2014; 4.50:1.0 from July 1, 2014 to June 30, 2015, and 4.25:1.0 thereafter. The interest coverage ratio must be at least 1.70:1.0 from January 1, 2013 to December 31, 2014 and 1.85:1.0 thereafter. As of September 28, 2013 and December 29, 2012, the Company was in compliance with all covenants. The Company’s wholly-owned subsidiary companies and its non wholly-owned subsidiary, Continental Cement, are named as issuers or guarantors, as applicable, of the Senior Notes and the Senior Secured Credit Facility. In addition, the Company has pledged substantially all of its assets as collateral for the Senior Secured Credit Facility. | |||||||||
As of September 28, 2013 and December 29, 2012, $11.4 million and $12.6 million, respectively, of deferred financing fees were being amortized over the term of the debt using the effective interest method. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Sep. 28, 2013 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
8 | INCOME TAXES | |
The Company is a limited liability company and passes its tax attributes for federal and state tax purposes to its parent company and is generally not subject to federal or state income tax. However, there are certain subsidiary entities that file federal and state income tax returns due to their status as C Corporations. The provision for income taxes is composed of federal, state and local income taxes for the subsidiary entities that have C Corporation status. | ||
The effective income tax rate for these entities differs from the statutory federal rate primarily due to (1) depletion expense and domestic production activities deduction, which are allowed as deductions for tax purposes but not recorded under GAAP, (2) state income taxes and the effect of graduated tax rates and (3) certain non-recurring items, such as differences in the treatment of transaction costs, which are often not deductible for tax purposes. | ||
As of September 28, 2013 and December 29, 2012, the Company has not recognized any liabilities for uncertain tax positions. The Company records interest and penalties as a component of the income tax provision. No material interest or penalties were recognized in income tax expense for the three and nine month periods ended September 28, 2013 and September 29, 2012. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |
Sep. 28, 2013 | ||
Commitments And Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
9 | COMMITMENTS AND CONTINGENCIES | |
The Company is a party to various legal proceedings, including those noted in this section. Management presently believes the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm the Company’s consolidated financial position, results of operations or liquidity. However, legal proceedings and related government investigations are subject to inherent uncertainties, and unfavorable rulings or other events could occur, which could materially adversely affect the Company’s consolidated financial position, results of operations or liquidity. The Company records legal fees as incurred. | ||
Litigation and Claims — The Company is obligated under an indemnification agreement entered into with the sellers of Harper Contracting, Inc., Harper Sand and Gravel, Inc., Harper Ready Mix Company, Inc. and Harper Investments, Inc. (collectively, “Harper”) for the sellers’ ownership interests in a joint venture agreement. The Company has the rights to any benefits under the joint venture as well as the assumption of any obligations, but does not own equity interests in the joint venture. The joint venture has incurred significant losses on a highway project in Utah, which have resulted in requests for funding from the joint venture partners and, ultimately, from the Company. Through September 28, 2013, the Company has funded $8.8 million, $4.0 million of which was funded in the nine month period ended September 29, 2012 and $4.8 million in 2011. As of September 28, 2013 and December 29, 2012, an accrual of $4.3 million is recorded in other noncurrent liabilities for this matter. | ||
In 2013, a dispute with the sellers of Harper related to the calculation of working capital from the August 2010 acquisition was settled. The working capital dispute was submitted to binding arbitration, the outcome of which resulted in the payment of $1.9 million to the sellers. In addition, various other acquisition-related disputes with the sellers were settled in 2013 for approximately $0.8 million. The total payments of $2.7 million were made in the second quarter of 2013. There was no material effect to 2013 earnings as a result of these settlements. | ||
During the course of business, there may be revisions to project costs and conditions that can give rise to change orders on construction contracts. Revisions can also result in claims made against a customer or subcontractor to recover project variances that have not been satisfactorily addressed through change orders with a customer. As of September 28, 2013 and December 29, 2012, unapproved change orders and claims totaled $4.0 million ($0.4 million in costs and estimated earnings in excess of billings and $3.6 million in other assets) and $4.8 million ($1.6 million in costs and estimated earnings in excess of billings and $3.2 million in other assets), respectively. | ||
Environmental Remediation — The Company’s mining operations are subject to and affected by federal, state and local laws and regulations relating to the environment, health and safety and other regulatory matters. These operations require environmental operating permits, which are subject to modification, renewal and revocation. Management regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Company’s business, as it is with other companies engaged in similar businesses, and there can be no assurance that environmental liabilities will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity in the future. | ||
Other — In February 2011, the Company incurred a property loss related to a sunken barge with cement product aboard. Through September 28, 2013, the Company has recognized $3.3 million of charges for lost product aboard the barge and costs to remove the barge from the waterway, of which $1.8 million is included in accrued expenses as management’s best estimate of the remaining costs to remove the barge. | ||
The Company is obligated under various firm purchase commitments for certain raw materials and services that are in the ordinary course of business. Management does not expect any significant changes in the market value of these goods and services during the commitment period that would have a material adverse affect on the financial position, results of operations or liquidity of the Company. | ||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Supplemental Cash Flow Information | ' | ||||||||
10 | SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||
Supplemental cash flow information is as follows: | |||||||||
Nine months ended | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Cash payments: | |||||||||
Interest | $ | 45,558 | $ | 35,798 | |||||
Income taxes | 653 | 704 |
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
11 | SEGMENT INFORMATION | ||||||||||||||||
The Company has determined that it has three operating segments, which are its reportable segments: the Central; West; and East regions. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated separately by the Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”). The CODM evaluates the performance of the Company’s segments and allocates resources to them based on several factors, including a measurement of segment profit, which is computed as earnings before interest, taxes, depreciation, depletion, amortization and accretion. In addition, certain items such as management fees are excluded from the calculation of segment profit. | |||||||||||||||||
Each region has several acquired subsidiaries that are engaged in various activities related to the production, distribution and sale of construction materials and the provision of construction services. Assets employed by segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements. The following tables display selected financial data for the Company’s reportable business segments: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue: | |||||||||||||||||
Central region | $ | 115,527 | $ | 97,580 | $ | 244,207 | $ | 226,077 | |||||||||
West region | 142,921 | 173,642 | 322,640 | 369,767 | |||||||||||||
East region | 57,815 | 47,959 | 111,087 | 98,776 | |||||||||||||
Total revenue | $ | 316,263 | $ | 319,181 | $ | 677,934 | $ | 694,620 | |||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Segment profit (loss): | |||||||||||||||||
Central region | $ | 30,710 | $ | 22,560 | $ | 49,892 | $ | 45,177 | |||||||||
West region | 19,175 | 17,248 | 19,260 | 7,598 | |||||||||||||
East region | 13,167 | 14,129 | 10,790 | 5,556 | |||||||||||||
Corporate and other (1) | (5,454 | ) | (2,290 | ) | (17,727 | ) | (13,338 | ) | |||||||||
Total reportable segments and corporate | 57,598 | 51,647 | 62,215 | 44,993 | |||||||||||||
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 | |||||||||||||
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 | |||||||||||||
Income (loss) from continuing operations before taxes | $ | 24,515 | $ | 19,805 | $ | (34,742 | ) | $ | (49,278 | ) | |||||||
(1) | Corporate results primarily consist of compensation and office expenses for employees included in the Company’s headquarters and transaction costs. The increase in cost is primarily attributable to the Company’s August 2013 relocation of its headquarters to Denver, Colorado. | ||||||||||||||||
Nine months ended | |||||||||||||||||
September 28, | September 29, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Cash paid for capital expenditures: | |||||||||||||||||
Central region | $ | 26,581 | $ | 17,604 | |||||||||||||
West region | 17,912 | 12,512 | |||||||||||||||
East region | 7,045 | 6,645 | |||||||||||||||
Total reportable segments | 51,538 | 36,761 | |||||||||||||||
Corporate and other | 2,121 | 51 | |||||||||||||||
Total capital expenditures | $ | 53,659 | $ | 36,812 | |||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Depreciation, depletion, amortization and accretion: | |||||||||||||||||
Central region | $ | 8,756 | $ | 7,537 | $ | 25,084 | $ | 22,414 | |||||||||
West region | 6,151 | 6,163 | 18,443 | 17,825 | |||||||||||||
East region | 3,486 | 3,533 | 10,848 | 10,556 | |||||||||||||
Total reportable segments | 18,393 | 17,233 | 54,375 | 50,795 | |||||||||||||
Corporate and other | 159 | 18 | 202 | 59 | |||||||||||||
Total depreciation, depletion, amortization and accretion | $ | 18,552 | $ | 17,251 | $ | 54,577 | $ | 50,854 | |||||||||
September 28, | December 29, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Total assets: | |||||||||||||||||
Central region | $ | 672,322 | $ | 610,003 | |||||||||||||
West region | 465,865 | 428,115 | |||||||||||||||
East region | 224,253 | 224,603 | |||||||||||||||
Total reportable segments | 1,362,440 | 1,262,721 | |||||||||||||||
Corporate and other | 20,934 | 18,492 | |||||||||||||||
Total | $ | 1,383,374 | $ | 1,281,213 | |||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue by product:* | |||||||||||||||||
Aggregates | $ | 51,454 | $ | 44,446 | $ | 119,757 | $ | 111,127 | |||||||||
Asphalt | 87,277 | 99,981 | 162,485 | 182,147 | |||||||||||||
Ready-mixed concrete | 36,035 | 31,035 | 82,447 | 77,572 | |||||||||||||
Cement | 28,245 | 25,799 | 59,160 | 57,176 | |||||||||||||
Construction and paving | 171,399 | 189,417 | 343,346 | 373,504 | |||||||||||||
Other | (58,147 | ) | (71,497 | ) | (89,261 | ) | (106,906 | ) | |||||||||
Total revenue | $ | 316,263 | $ | 319,181 | $ | 677,934 | $ | 694,620 | |||||||||
* | Revenue by product includes intracompany sales transferred at market value. The elimination of intracompany transactions is included in Other. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | |
Sep. 28, 2013 | ||
Related Party Transactions [Abstract] | ' | |
Related Party Transactions | ' | |
12 | RELATED PARTY TRANSACTIONS | |
The Company incurred certain management fees due to Blackstone Management Partners L.L.C. (“BMP”) totaling $0.8 million and $2.0 million during the three and nine month periods ended September 28, 2013, respectively, and $0.8 million and $1.7 million during the three and nine month periods ended September 29, 2012, respectively, under the terms of an agreement with Summit Materials Holdings L.P., and BMP. Under the terms of the agreement, BMP is permitted to assign, and has assigned, a portion of the fees to which it is entitled to Silverhawk Summit, L.P. and to certain equity-holding members of the Company’s management. The fees were paid for consultancy services related to acquisition activities and are included in general and administrative expenses. | ||
The Company had $0.1 million and $0.5 million of revenue from unconsolidated affiliates during the three and nine month periods ended September 28, 2013, respectively, and $2.4 million and $5.5 million during the three and nine month periods ended September 29, 2012, respectively. As of September 28, 2013 and December 29, 2012, accounts receivable from affiliates was $0.2 million and $1.9 million, respectively. | ||
Cement sales to companies owned by a noncontrolling member of Continental Cement were approximately $4.9 million and $10.0 million during the three and nine month periods ended September 28, 2013, respectively, and $3.6 million and $8.8 million during the three and nine month periods ended September 29, 2012, respectively. Accounts receivables due from the noncontrolling member were $1.3 million and $1.0 million as of September 28, 2013 and December 29, 2012, respectively. In addition, as of September 28, 2013 and December 29, 2012, the Company owed $0.8 million and $2.1 million, respectively, to a noncontrolling member of Continental Cement for accrued interest on a related party note. The principal balance on the note was repaid in January 2012. |
Senior_Notes_Guarantor_and_Non
Senior Notes' Guarantor and Non Guarantor Financial Information | 9 Months Ended | ||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Senior Notes' Guarantor and Non Guarantor Financial Information | ' | ||||||||||||||||||||||||
13 | SENIOR NOTES’ GUARANTOR AND NON GUARANTOR FINANCIAL INFORMATION | ||||||||||||||||||||||||
The Company’s wholly-owned subsidiary companies (“Wholly-owned Guarantors”) and non wholly-owned subsidiary, Continental Cement (“Non Wholly-owned Guarantor”), are named as guarantors (collectively, the “Guarantors”) of the Senior Notes. Certain other partially-owned subsidiaries do not guarantee the Senior Notes (collectively, the “Non-Guarantors”), including a subsidiary of Continental Cement. The Guarantors provide a joint and several, full and unconditional guarantee of the Senior Notes. There are no significant restrictions on the Company’s ability to obtain funds from any of the Guarantor Subsidiaries in the form of a dividend or loan. Additionally, there are no significant restrictions on a Guarantor Subsidiary’s ability to obtain funds from the Company or its direct or indirect subsidiaries. | |||||||||||||||||||||||||
The following condensed consolidating balance sheets, statements of operations and cash flows are provided for Summit Materials (referred to as “Parent” in the condensed financial statements below), the Non-Wholly-owned Guarantor, the Wholly-owned Guarantors and the Non-Guarantors. Summit Materials Finance Corp. as a co-issuer of the Senior Notes, had no transactions during the respective periods or assets as of September 28, 2013 and December 29, 2012. Earnings from subsidiaries are included in other income in the condensed consolidated statements of operations below. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the guarantor or non-guarantor subsidiaries operated as independent entities. | |||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||
September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash | $ | 1,607 | $ | 9 | $ | 22,795 | $ | 1,078 | $ | (6,282 | ) | $ | 19,207 | ||||||||||||
Accounts receivable, net | — | 11,972 | 113,700 | 3,290 | (1,926 | ) | 127,036 | ||||||||||||||||||
Intercompany receivables | 12,826 | — | 21,560 | — | (34,386 | ) | — | ||||||||||||||||||
Cost and estimated earnings in excess of billings | — | — | 30,893 | 1,611 | — | 32,504 | |||||||||||||||||||
Inventories | — | 6,740 | 88,285 | 1,206 | — | 96,231 | |||||||||||||||||||
Other current assets | 742 | 573 | 15,030 | 264 | (441 | ) | 16,168 | ||||||||||||||||||
Total current assets | 15,175 | 19,294 | 292,263 | 7,449 | (43,035 | ) | 291,146 | ||||||||||||||||||
Property, plant and equipment, net | 2,992 | 300,343 | 533,677 | 7,163 | — | 844,175 | |||||||||||||||||||
Goodwill | — | 23,124 | 171,144 | 972 | — | 195,240 | |||||||||||||||||||
Intangible assets, net | — | 666 | 14,572 | — | — | 15,238 | |||||||||||||||||||
Other assets | 345,487 | 15,630 | 163,860 | 1,332 | (488,734 | ) | 37,575 | ||||||||||||||||||
Total assets | $ | 363,654 | $ | 359,057 | $ | 1,175,516 | $ | 16,916 | $ | (531,769 | ) | $ | 1,383,374 | ||||||||||||
Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current portion of debt | $ | — | $ | 1,018 | $ | 87,202 | $ | — | $ | — | $ | 88,220 | |||||||||||||
Current portion of acquisition-related liabilities | — | — | 10,533 | — | — | 10,533 | |||||||||||||||||||
Accounts payable | 3,169 | 7,612 | 67,991 | 879 | (1,926 | ) | 77,725 | ||||||||||||||||||
Accrued expenses | 10,315 | 8,430 | 43,954 | 1,442 | (6,723 | ) | 57,418 | ||||||||||||||||||
Intercompany payables | — | 4,464 | 26,618 | 3,304 | (34,386 | ) | — | ||||||||||||||||||
Billings in excess of costs and estimated earnings | — | — | 4,566 | 89 | — | 4,655 | |||||||||||||||||||
Total current liabilities | 13,484 | 21,524 | 240,864 | 5,714 | (43,035 | ) | 238,551 | ||||||||||||||||||
Long-term debt | — | 154,845 | 504,653 | — | — | 659,498 | |||||||||||||||||||
Acquisition-related liabilities | — | — | 27,990 | — | — | 27,990 | |||||||||||||||||||
Other noncurrent liabilities | 900 | 25,744 | 56,887 | — | — | 83,531 | |||||||||||||||||||
Total liabilities | 14,384 | 202,113 | 830,394 | 5,714 | (43,035 | ) | 1,009,570 | ||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | — | 23,300 | 23,300 | |||||||||||||||||||
Redeemable members’ interest | — | 23,300 | — | — | (23,300 | ) | — | ||||||||||||||||||
Total member’s interest | 349,270 | 133,644 | 345,122 | 11,202 | (488,734 | ) | 350,504 | ||||||||||||||||||
Total liabilities, redeemable noncontrolling interest and member’s interest | $ | 363,654 | $ | 359,057 | $ | 1,175,516 | $ | 16,916 | $ | (531,769 | ) | $ | 1,383,374 | ||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||
December 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash | $ | 697 | $ | 397 | $ | 30,981 | $ | 680 | $ | (5,324 | ) | $ | 27,431 | ||||||||||||
Accounts receivable, net | — | 7,421 | 90,765 | 3,255 | (1,143 | ) | 100,298 | ||||||||||||||||||
Intercompany receivables | 14,931 | 15,557 | 9,018 | — | (39,506 | ) | — | ||||||||||||||||||
Cost and estimated earnings in excess of billings | — | — | 11,428 | 147 | — | 11,575 | |||||||||||||||||||
Inventories | — | 7,073 | 84,555 | 1,349 | — | 92,977 | |||||||||||||||||||
Other current assets | 25 | 726 | 8,447 | 2,409 | (1,539 | ) | 10,068 | ||||||||||||||||||
Total current assets | 15,653 | 31,174 | 235,194 | 7,840 | (47,512 | ) | 242,349 | ||||||||||||||||||
Property, plant and equipment, net | 1,074 | 287,677 | 517,994 | 6,862 | — | 813,607 | |||||||||||||||||||
Goodwill | — | 23,124 | 155,024 | 972 | — | 179,120 | |||||||||||||||||||
Intangible assets, net | — | 742 | 7,864 | — | — | 8,606 | |||||||||||||||||||
Other assets | 374,581 | 11,891 | 161,442 | 1,315 | (511,698 | ) | 37,531 | ||||||||||||||||||
Total assets | $ | 391,308 | $ | 354,608 | $ | 1,077,518 | $ | 16,989 | $ | (559,210 | ) | $ | 1,281,213 | ||||||||||||
Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current portion of debt | $ | — | $ | 965 | $ | 3,035 | $ | — | $ | — | $ | 4,000 | |||||||||||||
Current portion of acquisition-related liabilities | — | — | 9,525 | — | — | 9,525 | |||||||||||||||||||
Accounts payable | 2,745 | 6,715 | 51,179 | 2,138 | (1,143 | ) | 61,634 | ||||||||||||||||||
Accrued expenses | 6,877 | 10,742 | 38,050 | 1,015 | (6,862 | ) | 49,822 | ||||||||||||||||||
Intercompany payables | — | — | 33,396 | 6,110 | (39,506 | ) | — | ||||||||||||||||||
Billings in excess of costs and estimated earnings | — | — | 6,656 | 270 | — | 6,926 | |||||||||||||||||||
Total current liabilities | 9,622 | 18,422 | 141,841 | 9,533 | (47,511 | ) | 131,907 | ||||||||||||||||||
Long-term debt | — | 155,394 | 480,449 | — | — | 635,843 | |||||||||||||||||||
Acquisition-related liabilities | — | — | 23,919 | — | — | 23,919 | |||||||||||||||||||
Other noncurrent liabilities | 395 | 27,091 | 56,780 | — | — | 84,266 | |||||||||||||||||||
Total liabilities | 10,017 | 200,907 | 702,989 | 9,533 | (47,511 | ) | 875,935 | ||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | — | 22,850 | 22,850 | |||||||||||||||||||
Redeemable members’ interest | — | 22,850 | — | — | (22,850 | ) | — | ||||||||||||||||||
Total member’s interest | 381,291 | 130,851 | 374,529 | 7,456 | (511,699 | ) | 382,428 | ||||||||||||||||||
Total liabilities, redeemable noncontrolling interest and member’s interest | $ | 391,308 | $ | 354,608 | $ | 1,077,518 | $ | 16,989 | $ | (559,210 | ) | $ | 1,281,213 | ||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the three months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 29,889 | $ | 279,377 | $ | 11,238 | $ | (4,241 | ) | $ | 316,263 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 18,222 | 205,299 | 6,003 | (4,241 | ) | 225,283 | ||||||||||||||||||
General and administrative expenses | 1,131 | 1,779 | 30,552 | 360 | — | 33,822 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 158 | 2,922 | 15,224 | 248 | — | 18,552 | |||||||||||||||||||
Transaction costs | — | — | 711 | — | — | 711 | |||||||||||||||||||
Operating (loss) income | (1,289 | ) | 6,966 | 27,591 | 4,627 | — | 37,895 | ||||||||||||||||||
Other (income) expense, net | (21,541 | ) | (1,219 | ) | (2,734 | ) | 7 | 24,336 | (1,151 | ) | |||||||||||||||
Interest expense | — | 2,725 | 12,811 | 93 | (1,098 | ) | 14,531 | ||||||||||||||||||
Income from continuing operations before taxes | 20,252 | 5,460 | 17,514 | 4,527 | (23,238 | ) | 24,515 | ||||||||||||||||||
Income tax expense | 85 | — | 1,480 | — | — | 1,565 | |||||||||||||||||||
Income from continuing operations | 20,167 | 5,460 | 16,034 | 4,527 | (23,238 | ) | 22,950 | ||||||||||||||||||
Loss from discontinued operations | — | — | (160 | ) | — | — | (160 | ) | |||||||||||||||||
Net income | 20,167 | 5,460 | 15,874 | 4,527 | (23,238 | ) | 22,790 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 2,623 | 2,623 | |||||||||||||||||||
Net income attributable to member of Summit Materials, LLC | $ | 20,167 | $ | 5,460 | $ | 15,874 | $ | 4,527 | $ | (25,861 | ) | $ | 20,167 | ||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the three months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 26,983 | $ | 286,407 | $ | 9,417 | $ | (3,626 | ) | $ | 319,181 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 18,882 | 218,370 | 5,553 | (3,626 | ) | 239,179 | ||||||||||||||||||
General and administrative expenses | (2,561 | ) | 1,608 | 29,966 | 256 | — | 29,269 | ||||||||||||||||||
Depreciation, depletion, amortization and accretion | 18 | 2,552 | 14,424 | 257 | — | 17,251 | |||||||||||||||||||
Transaction costs | — | — | 233 | — | — | 233 | |||||||||||||||||||
Operating income | 2,543 | 3,941 | 23,414 | 3,351 | — | 33,249 | |||||||||||||||||||
Other income, net | (14,727 | ) | (612 | ) | (1,524 | ) | (115 | ) | 15,831 | (1,147 | ) | ||||||||||||||
Interest expense | — | 3,024 | 11,690 | 186 | (309 | ) | 14,591 | ||||||||||||||||||
Income from continuing operations before taxes | 17,270 | 1,529 | 13,248 | 3,280 | (15,522 | ) | 19,805 | ||||||||||||||||||
Income tax expense | — | — | 149 | — | — | 149 | |||||||||||||||||||
Income from continuing operations | 17,270 | 1,529 | 13,099 | 3,280 | (15,522 | ) | 19,656 | ||||||||||||||||||
Loss from discontinued operations | — | — | (1,287 | ) | — | — | (1,287 | ) | |||||||||||||||||
Net income | 17,270 | 1,529 | 11,812 | 3,280 | (15,522 | ) | 18,369 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 1,099 | 1,099 | |||||||||||||||||||
Net income attributable to member of Summit Materials, LLC | $ | 17,270 | $ | 1,529 | $ | 11,812 | $ | 3,280 | $ | (16,621 | ) | $ | 17,270 | ||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the nine months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 62,688 | $ | 594,272 | $ | 31,724 | $ | (10,750 | ) | $ | 677,934 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 46,055 | 448,655 | 19,238 | (10,750 | ) | 503,198 | ||||||||||||||||||
General and administrative expenses | 4,027 | 6,862 | 95,386 | 944 | — | 107,219 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 202 | 8,454 | 45,162 | 759 | — | 54,577 | |||||||||||||||||||
Transaction costs | — | — | 3,175 | — | — | 3,175 | |||||||||||||||||||
Operating (loss) income | (4,229 | ) | 1,317 | 1,894 | 10,783 | — | 9,765 | ||||||||||||||||||
Other expense (income), net | 30,008 | (2,513 | ) | (1,206 | ) | 181 | (24,343 | ) | 2,127 | ||||||||||||||||
Interest expense | — | 8,148 | 36,906 | 332 | (3,006 | ) | 42,380 | ||||||||||||||||||
(Loss) income from continuing operations before taxes | (34,237 | ) | (4,318 | ) | (33,806 | ) | 10,270 | 27,349 | (34,742 | ) | |||||||||||||||
Income tax (benefit) expense | 85 | — | (1,867 | ) | — | — | (1,782 | ) | |||||||||||||||||
(Loss) income from continuing operations | (34,322 | ) | (4,318 | ) | (31,939 | ) | 10,270 | 27,349 | (32,960 | ) | |||||||||||||||
Loss from discontinued operations | — | — | (257 | ) | — | — | (257 | ) | |||||||||||||||||
Net (loss) income | (34,322 | ) | (4,318 | ) | (32,196 | ) | 10,270 | 27,349 | (33,217 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 1,105 | 1,105 | |||||||||||||||||||
Net (loss) income attributable to member of Summit Materials, LLC | $ | (34,322 | ) | $ | (4,318 | ) | $ | (32,196 | ) | $ | 10,270 | $ | 26,244 | $ | (34,322 | ) | |||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the nine months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 59,986 | $ | 622,278 | $ | 22,269 | $ | (9,913 | ) | $ | 694,620 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 45,173 | 497,433 | 12,029 | (9,913 | ) | 544,722 | ||||||||||||||||||
General and administrative expenses | 261 | 4,519 | 89,600 | 806 | — | 95,186 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 59 | 7,544 | 42,476 | 775 | — | 50,854 | |||||||||||||||||||
Transaction costs | — | — | 1,765 | — | — | 1,765 | |||||||||||||||||||
Operating (loss) income | (320 | ) | 2,750 | (8,996 | ) | 8,659 | — | 2,093 | |||||||||||||||||
Other expense (income), net | 50,730 | (1,107 | ) | 6,930 | (35 | ) | (48,564 | ) | 7,954 | ||||||||||||||||
Interest expense | — | 9,145 | 34,892 | 495 | (1,115 | ) | 43,417 | ||||||||||||||||||
(Loss) income from continuing operations before taxes | (51,050 | ) | (5,288 | ) | (50,818 | ) | 8,199 | 49,679 | (49,278 | ) | |||||||||||||||
Income tax expense (benefit) | 5 | — | (1,819 | ) | — | — | (1,814 | ) | |||||||||||||||||
(Loss) income from continuing operations | (51,055 | ) | (5,288 | ) | (48,999 | ) | 8,199 | 49,679 | (47,464 | ) | |||||||||||||||
Loss from discontinued operations | — | — | (3,011 | ) | — | — | (3,011 | ) | |||||||||||||||||
Net (loss) income | (51,055 | ) | (5,288 | ) | (52,010 | ) | 8,199 | 49,679 | (50,475 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 580 | 580 | |||||||||||||||||||
Net (loss) income attributable to member of Summit Materials, LLC | $ | (51,055 | ) | $ | (5,288 | ) | $ | (52,010 | ) | $ | 8,199 | $ | 49,099 | $ | (51,055 | ) | |||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||
For the nine months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 925 | $ | (3,662 | ) | $ | (5,118 | ) | $ | 7,978 | $ | — | $ | 123 | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||||||
Acquisitions, net of cash acquired | — | — | (60,913 | ) | — | — | (60,913 | ) | |||||||||||||||||
Purchase of property, plant and equipment | (2,120 | ) | (20,265 | ) | (30,184 | ) | (1,090 | ) | — | (53,659 | ) | ||||||||||||||
Proceeds from the sale of property, plant, and equipment | — | — | 8,592 | 50 | — | 8,642 | |||||||||||||||||||
Net cash used for investing activities | (2,120 | ) | (20,265 | ) | (82,505 | ) | (1,040 | ) | — | (105,930 | ) | ||||||||||||||
Cash flow from financing activities: | |||||||||||||||||||||||||
Net proceeds from debt issuance | 214,390 | — | — | — | — | 214,390 | |||||||||||||||||||
Loans received from and payments made on loans from other Summit Companies | (100,401 | ) | 23,539 | 84,360 | (6,540 | ) | (958 | ) | — | ||||||||||||||||
Payments on long-term debt | (111,884 | ) | — | — | — | — | (111,884 | ) | |||||||||||||||||
Payments on acquisition-related liabilities | — | — | (4,923 | ) | — | — | (4,923 | ) | |||||||||||||||||
Net cash provided by (used for) financing activities | 2,105 | 23,539 | 79,437 | (6,540 | ) | (958 | ) | 97,583 | |||||||||||||||||
Net increase (decrease) in cash | 910 | (388 | ) | (8,186 | ) | 398 | (958 | ) | (8,224 | ) | |||||||||||||||
Cash — Beginning of period | 697 | 397 | 30,981 | 680 | (5,324 | ) | 27,431 | ||||||||||||||||||
Cash— End of period | $ | 1,607 | $ | 9 | $ | 22,795 | $ | 1,078 | $ | (6,282 | ) | $ | 19,207 | ||||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||
For the nine months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 5,581 | $ | 4,037 | $ | (27,762 | ) | $ | 6,289 | $ | — | $ | (11,855 | ) | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||||||
Acquisitions, net of cash acquired | — | — | (42,933 | ) | — | — | (42,933 | ) | |||||||||||||||||
Purchase of property, plant and equipment | (51 | ) | (9,607 | ) | (26,837 | ) | (317 | ) | — | (36,812 | ) | ||||||||||||||
Proceeds from the sale of property, plant, and equipment | — | 66 | 4,053 | 125 | — | 4,244 | |||||||||||||||||||
Other | — | — | 69 | — | — | 69 | |||||||||||||||||||
Net cash used for investing activities | (51 | ) | (9,541 | ) | (65,648 | ) | (192 | ) | — | (75,432 | ) | ||||||||||||||
Cash flow from financing activities: | |||||||||||||||||||||||||
Net proceeds from debt issuance | 248,297 | 6,983 | 63,482 | — | (70,462 | ) | 248,300 | ||||||||||||||||||
Loans received from and payments made on loans from other Summit Companies | (79,174 | ) | 6,460 | 66,853 | (6,648 | ) | 12,509 | — | |||||||||||||||||
Payments on long-term debt | (177,892 | ) | (5,783 | ) | (51,933 | ) | — | 57,716 | (177,892 | ) | |||||||||||||||
Payments on acquisition-related liabilities | — | — | (4,067 | ) | — | — | (4,067 | ) | |||||||||||||||||
Other | (656 | ) | — | — | (282 | ) | 237 | (701 | ) | ||||||||||||||||
Net cash (used for) provided by financing activities | (9,425 | ) | 7,660 | 74,335 | (6,930 | ) | — | 65,640 | |||||||||||||||||
Net decrease (increase) in cash | (3,895 | ) | 2,156 | (19,075 | ) | (833 | ) | — | (21,647 | ) | |||||||||||||||
Cash — Beginning of period | 6,701 | 8 | 33,997 | 2,084 | — | 42,790 | |||||||||||||||||||
Cash— End of period | $ | 2,806 | $ | 2,164 | $ | 14,922 | $ | 1,251 | $ | — | $ | 21,143 |
Summary_of_Organization_and_Si1
Summary of Organization and Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation — These consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. The consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as of and for the year ended December 29, 2012. The Company continues to follow the accounting policies set forth in those consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of September 28, 2013, the results of operations for the three and nine month periods ended September 28, 2013 and September 29, 2012 and cash flows for the nine month periods ended September 28, 2013 and September 29, 2012. | |
The Company’s fiscal quarters are based on a 4-4-5 schedule; each quarter is composed of 13 weeks and ends on a Saturday. The Company’s third quarter ended on September 28 and September 29 in 2013 and 2012, respectively. In 2013, Continental Cement Company, L.L.C. (“Continental Cement”), an indirect majority owned subsidiary of the Company. changed its fiscal year to be consistent with the Company’s fiscal year. Prior to fiscal 2013, Continental Cement’s fiscal year was based on the calendar with quarter-end dates of March 31, June 30, September 30 and December 31. The effect of this change to the Company’s financial position, results of operations and liquidity is immaterial. | |
Substantially all of the Company’s products and services are produced, consumed and performed outdoors, primarily in the spring, summer and fall. Seasonal changes and other weather-related conditions can affect the production and sales volumes of its products and delivery of its services. Therefore, the financial results for any interim period do not necessarily indicate the results expected for the full year. Furthermore, the Company’s sales and earnings are sensitive to national, regional and local economic conditions and to cyclical changes in construction spending, among other factors. | |
Use of Estimates | ' |
Use of Estimates — Preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures herein. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangibles and other long-lived assets, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts; most of the Company’s construction work is performed under fixed unit-price contracts with state and local governmental entities. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. Management adjusts such estimates and assumptions when circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the Company’s consolidated financial statements for the period in which the change in estimate occurs. | |
Business and Credit Concentrations | ' |
Business and Credit Concentrations — The operations of the Company are conducted primarily across 18 states, with the most significant revenue generated in Texas, Kansas, Kentucky, Missouri and Utah. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Collection of these accounts is, therefore, dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. However, credit granted within the Company’s trade areas has been granted to a wide variety of customers, and management does not believe that any significant concentrations of credit exist with respect to individual customers or groups of customers. No single customer accounted for more than 10% of total revenue in the three and nine month periods ended September 28, 2013 or September 29, 2012. | |
Fair Value Measurements | ' |
Fair Value Measurements — Certain acquisitions made by the Company require the payment of contingent amounts of purchase consideration. These payments are contingent on specified operating results being achieved in periods subsequent to the acquisition and will not be made if earn-out thresholds are not achieved. Contingent consideration obligations are measured at fair value each reporting period, and any adjustments to fair value are recognized in earnings in the period identified. As of September 28, 2013, contingent consideration obligations of $1.9 million were included in the non-current portion of acquisition-related liabilities. As of December 29, 2012, contingent consideration obligations of $0.7 million and $1.9 million were included in current and non-current acquisition-related liabilities, respectively. | |
The fair value of the contingent consideration obligations approximate their carrying value of $1.9 million and $2.6 million as of September 28, 2013 and December 29, 2012, respectively. The fair values are based on unobservable, or Level 3, inputs, including projected probability-weighted cash payments and a 9.2% discount rate, which reflects the Company’s credit risk. Changes in fair value may occur as a result of a change in actual or projected cash payments, the probability weightings applied by the Company to projected payments or a change in the discount rate. Significant increases or decreases in any of these inputs in isolation could result in a lower, or higher, fair value measurement. There were no adjustments to the fair value of contingent consideration in the three or nine month periods ended September 28, 2013 and September 29, 2012. | |
Financial Instruments | ' |
Financial Instruments — The Company’s financial instruments include certain acquisition-related liabilities (deferred consideration and noncompete obligations) and debt. The fair value of the deferred consideration and noncompete obligations approximate their carrying value of $30.3 million and $6.3 million, respectively, as of September 28, 2013, and $23.4 million and $7.4 million, respectively, as of December 29, 2012. The fair value was determined based on unobservable, or Level 3, inputs, including the cash payment terms in the purchase agreements and a discount rate reflecting the Company’s credit risk. | |
The fair value of long-term debt approximated $685.9 million and $670.7 million as of September 28, 2013 and December 29, 2012, respectively, compared to its carrying value of $663.7 million and $639.8 million, respectively. Fair value was determined based on observable, or Level 2, inputs, such as interest rates, bond yields and quoted prices in inactive markets. | |
Redeemable Noncontrolling Interest | ' |
Redeemable Noncontrolling Interest — The Company owns all of the outstanding Class A Units of Continental Cement, which represent a 69.7% economic interest. Continental Cement’s Class B Units, which represent a 30.3% economic interest, are subordinate to the Class A Units. The Class B Units can be put to Continental Cement in the future based on the passage of time, which can be accelerated upon the occurrence of a contingent event; therefore, the noncontrolling interest of the Class B unit holders is classified in temporary equity. The redemption value was based upon the estimated fair value of Continental Cement at the date of acquisition and the Company has elected to accrete changes in the redemption value of the noncontrolling interest over the period from the date of issuance to the earliest anticipated redemption date, which is currently May 2016, using an interest method. The accretion is recognized through an adjustment to accumulated deficit. The redemption value of the redeemable noncontrolling interest as of September 28, 2013 approximated its carrying value. |
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Summary of Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the fair value of the assets acquired and liabilities assumed in conjunction with the 2013 and 2012 acquisitions: | |||||||||
Nine months ended | Year ended | ||||||||
September 28, 2013 | December 29, 2012 | ||||||||
Financial assets | $ | 8,244 | $ | 1,403 | |||||
Inventories | 3,954 | 6,988 | |||||||
Property, plant and equipment | 40,009 | 21,508 | |||||||
Intangible assets (1) | 7,253 | 3,172 | |||||||
Other assets | 51 | 1,330 | |||||||
Financial liabilities | (6,082 | ) | (944 | ) | |||||
Other long-term liabilities | (1,016 | ) | (364 | ) | |||||
Net assets acquired | 52,413 | 33,093 | |||||||
Goodwill from current period acquisitions and working capital adjustments | 16,120 | 26,259 | |||||||
Purchase price | 68,533 | 59,352 | |||||||
Noncash transactions: | |||||||||
Acquisition related liabilities | (7,902 | ) | (10,547 | ) | |||||
Other | 282 | (48 | ) | ||||||
Total noncash transactions | (7,620 | ) | (10,595 | ) | |||||
Net cash paid for acquisitions | $ | 60,913 | $ | 48,757 | |||||
(1) | Intangible assets acquired relate to aggregate reserves to which the Company has the rights of ownership, but do not own the reserves and the differential between contractual lease rates and market rates for leases of aggregate reserves and office space. The acquired intangible assets have a weighted-average life of 21 years. | ||||||||
Schedule of Supplemental Pro Forma Information of Acquisitions | ' | ||||||||
The following unaudited supplemental pro forma information presents the financial results as if the 2012 acquisitions occurred on January 1, 2011. | |||||||||
Three months ended | Nine months ended | ||||||||
September 29, 2012 | September 29, 2012 | ||||||||
Revenue | $ | 326,954 | $ | 708,230 | |||||
Net income (loss) | 19,008 | (48,306 | ) |
Goodwill_Tables
Goodwill (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Changes in Carrying Amount of Goodwill, by Reportable Segment | ' | ||||||||||||||||
Changes in the carrying amount of goodwill, by reportable segment, from December 29, 2012 to September 28, 2013 are summarized as follows: | |||||||||||||||||
Central | West | East | Total | ||||||||||||||
Balance, December 29, 2012 | $ | 72,789 | $ | 91,393 | $ | 14,938 | $ | 179,120 | |||||||||
Acquisitions (i) | — | 16,120 | — | 16,120 | |||||||||||||
Balance, September 28, 2013 | $ | 72,789 | $ | 107,513 | $ | 14,938 | $ | 195,240 | |||||||||
(i) | Includes goodwill from 2013 acquisitions, a working capital settlement of $1.9 million that is clearly and directly associated with purchase price consideration and working capital adjustments. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Revenue and Loss before Income Tax Expense from Discontinued Operations | ' | ||||||||||||||||
Revenue and loss before income tax expense included in discontinued operations for the three and nine month periods ended September 28, 2013 and September 29, 2012 are summarized below: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 (1) | 2012 (2) | 2013 (1) | 2012 (2) | ||||||||||||||
Revenue | $ | 203 | $ | 17,815 | $ | 4,008 | $ | 43,715 | |||||||||
Loss from discontinued operations before income tax expense | (160 | ) | (1,287 | ) | (257 | ) | (3,011 | ) | |||||||||
(1) | Consists of concrete paving operations (railroad and environmental remediation operations were sold in 2012) | ||||||||||||||||
(2) | Consists of concrete paving, railroad and environmental remediation operations |
Accounts_Receivable_Net_Tables
Accounts Receivable, Net (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Summary of Accounts Receivable, Net | ' | ||||||||
Accounts receivable, net consists of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Trade accounts receivable | $ | 114,195 | $ | 88,637 | |||||
Retention receivables | 14,644 | 13,181 | |||||||
Receivables from related parties | 1,307 | 1,871 | |||||||
Accounts receivable | 130,146 | 103,689 | |||||||
Less: Allowance for doubtful accounts | (3,110 | ) | (3,391 | ) | |||||
Accounts receivable, net | $ | 127,036 | $ | 100,298 | |||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Components of Inventories | ' | ||||||||
Inventories consist of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Aggregate stockpiles | $ | 70,857 | $ | 62,872 | |||||
Finished goods | 9,368 | 9,342 | |||||||
Work in process | 2,798 | 2,679 | |||||||
Raw materials | 13,208 | 18,084 | |||||||
Total | $ | 96,231 | $ | 92,977 | |||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt | ' | ||||||||
Debt consists of the following: | |||||||||
September 28, | December 29, | ||||||||
2013 | 2012 | ||||||||
Senior secured credit facility, revolver (1) | $ | 84,000 | $ | — | |||||
Long-term debt: | |||||||||
$250.0 million senior notes, net of discount of $4.2 million at September 28, 2013 and $4.7 million at December 29, 2012 | 245,800 | 245,303 | |||||||
$420.9 million senior secured credit facility, term loan net of discount of $3.0 million at September 28, 2013 and $3.5 million at December 29, 2012 | 417,918 | 394,540 | |||||||
Total | 663,718 | 639,843 | |||||||
Current portion of long-term debt | 4,220 | 4,000 | |||||||
Long-term debt | $ | 659,498 | $ | 635,843 | |||||
-1 | Five-year revolving senior secured credit facility due in 2017. | ||||||||
Schedule of Contractual Payments Long-Term Debt | ' | ||||||||
The contractual payments of long-term debt, including current maturities, for the five years subsequent to September 28, 2013, are as follows: | |||||||||
2013 (three months) | $ | 1,055 | |||||||
2014 | 4,220 | ||||||||
2015 | 4,220 | ||||||||
2016 | 5,275 | ||||||||
2017 | 4,220 | ||||||||
2018 | 3,165 | ||||||||
Thereafter | 648,790 | ||||||||
Total | 670,945 | ||||||||
Less: Original issue discount | (7,227 | ) | |||||||
Total debt | $ | 663,718 |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Schedule of Supplemental Cash Flow Information | ' | ||||||||
Supplemental cash flow information is as follows: | |||||||||
Nine months ended | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Cash payments: | |||||||||
Interest | $ | 45,558 | $ | 35,798 | |||||
Income taxes | 653 | 704 |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Summary of Financial Data for Company's Reportable Business Segments | ' | ||||||||||||||||
The following tables display selected financial data for the Company’s reportable business segments: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue: | |||||||||||||||||
Central region | $ | 115,527 | $ | 97,580 | $ | 244,207 | $ | 226,077 | |||||||||
West region | 142,921 | 173,642 | 322,640 | 369,767 | |||||||||||||
East region | 57,815 | 47,959 | 111,087 | 98,776 | |||||||||||||
Total revenue | $ | 316,263 | $ | 319,181 | $ | 677,934 | $ | 694,620 | |||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Segment profit (loss): | |||||||||||||||||
Central region | $ | 30,710 | $ | 22,560 | $ | 49,892 | $ | 45,177 | |||||||||
West region | 19,175 | 17,248 | 19,260 | 7,598 | |||||||||||||
East region | 13,167 | 14,129 | 10,790 | 5,556 | |||||||||||||
Corporate and other (1) | (5,454 | ) | (2,290 | ) | (17,727 | ) | (13,338 | ) | |||||||||
Total reportable segments and corporate | 57,598 | 51,647 | 62,215 | 44,993 | |||||||||||||
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 | |||||||||||||
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 | |||||||||||||
Income (loss) from continuing operations before taxes | $ | 24,515 | $ | 19,805 | $ | (34,742 | ) | $ | (49,278 | ) | |||||||
(1) | Corporate results primarily consist of compensation and office expenses for employees included in the Company’s headquarters and transaction costs. The increase in cost is primarily attributable to the Company’s August 2013 relocation of its headquarters to Denver, Colorado. | ||||||||||||||||
Nine months ended | |||||||||||||||||
September 28, | September 29, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Cash paid for capital expenditures: | |||||||||||||||||
Central region | $ | 26,581 | $ | 17,604 | |||||||||||||
West region | 17,912 | 12,512 | |||||||||||||||
East region | 7,045 | 6,645 | |||||||||||||||
Total reportable segments | 51,538 | 36,761 | |||||||||||||||
Corporate and other | 2,121 | 51 | |||||||||||||||
Total capital expenditures | $ | 53,659 | $ | 36,812 | |||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Depreciation, depletion, amortization and accretion: | |||||||||||||||||
Central region | $ | 8,756 | $ | 7,537 | $ | 25,084 | $ | 22,414 | |||||||||
West region | 6,151 | 6,163 | 18,443 | 17,825 | |||||||||||||
East region | 3,486 | 3,533 | 10,848 | 10,556 | |||||||||||||
Total reportable segments | 18,393 | 17,233 | 54,375 | 50,795 | |||||||||||||
Corporate and other | 159 | 18 | 202 | 59 | |||||||||||||
Total depreciation, depletion, amortization and accretion | $ | 18,552 | $ | 17,251 | $ | 54,577 | $ | 50,854 | |||||||||
September 28, | December 29, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Total assets: | |||||||||||||||||
Central region | $ | 672,322 | $ | 610,003 | |||||||||||||
West region | 465,865 | 428,115 | |||||||||||||||
East region | 224,253 | 224,603 | |||||||||||||||
Total reportable segments | 1,362,440 | 1,262,721 | |||||||||||||||
Corporate and other | 20,934 | 18,492 | |||||||||||||||
Total | $ | 1,383,374 | $ | 1,281,213 | |||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 28, | September 29, | September 28, | September 29, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Revenue by product:* | |||||||||||||||||
Aggregates | $ | 51,454 | $ | 44,446 | $ | 119,757 | $ | 111,127 | |||||||||
Asphalt | 87,277 | 99,981 | 162,485 | 182,147 | |||||||||||||
Ready-mixed concrete | 36,035 | 31,035 | 82,447 | 77,572 | |||||||||||||
Cement | 28,245 | 25,799 | 59,160 | 57,176 | |||||||||||||
Construction and paving | 171,399 | 189,417 | 343,346 | 373,504 | |||||||||||||
Other | (58,147 | ) | (71,497 | ) | (89,261 | ) | (106,906 | ) | |||||||||
Total revenue | $ | 316,263 | $ | 319,181 | $ | 677,934 | $ | 694,620 | |||||||||
* | Revenue by product includes intracompany sales transferred at market value. The elimination of intracompany transactions is included in Other. |
Senior_Notes_Guarantor_and_Non1
Senior Notes' Guarantor and Non Guarantor Financial Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||
September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash | $ | 1,607 | $ | 9 | $ | 22,795 | $ | 1,078 | $ | (6,282 | ) | $ | 19,207 | ||||||||||||
Accounts receivable, net | — | 11,972 | 113,700 | 3,290 | (1,926 | ) | 127,036 | ||||||||||||||||||
Intercompany receivables | 12,826 | — | 21,560 | — | (34,386 | ) | — | ||||||||||||||||||
Cost and estimated earnings in excess of billings | — | — | 30,893 | 1,611 | — | 32,504 | |||||||||||||||||||
Inventories | — | 6,740 | 88,285 | 1,206 | — | 96,231 | |||||||||||||||||||
Other current assets | 742 | 573 | 15,030 | 264 | (441 | ) | 16,168 | ||||||||||||||||||
Total current assets | 15,175 | 19,294 | 292,263 | 7,449 | (43,035 | ) | 291,146 | ||||||||||||||||||
Property, plant and equipment, net | 2,992 | 300,343 | 533,677 | 7,163 | — | 844,175 | |||||||||||||||||||
Goodwill | — | 23,124 | 171,144 | 972 | — | 195,240 | |||||||||||||||||||
Intangible assets, net | — | 666 | 14,572 | — | — | 15,238 | |||||||||||||||||||
Other assets | 345,487 | 15,630 | 163,860 | 1,332 | (488,734 | ) | 37,575 | ||||||||||||||||||
Total assets | $ | 363,654 | $ | 359,057 | $ | 1,175,516 | $ | 16,916 | $ | (531,769 | ) | $ | 1,383,374 | ||||||||||||
Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current portion of debt | $ | — | $ | 1,018 | $ | 87,202 | $ | — | $ | — | $ | 88,220 | |||||||||||||
Current portion of acquisition-related liabilities | — | — | 10,533 | — | — | 10,533 | |||||||||||||||||||
Accounts payable | 3,169 | 7,612 | 67,991 | 879 | (1,926 | ) | 77,725 | ||||||||||||||||||
Accrued expenses | 10,315 | 8,430 | 43,954 | 1,442 | (6,723 | ) | 57,418 | ||||||||||||||||||
Intercompany payables | — | 4,464 | 26,618 | 3,304 | (34,386 | ) | — | ||||||||||||||||||
Billings in excess of costs and estimated earnings | — | — | 4,566 | 89 | — | 4,655 | |||||||||||||||||||
Total current liabilities | 13,484 | 21,524 | 240,864 | 5,714 | (43,035 | ) | 238,551 | ||||||||||||||||||
Long-term debt | — | 154,845 | 504,653 | — | — | 659,498 | |||||||||||||||||||
Acquisition-related liabilities | — | — | 27,990 | — | — | 27,990 | |||||||||||||||||||
Other noncurrent liabilities | 900 | 25,744 | 56,887 | — | — | 83,531 | |||||||||||||||||||
Total liabilities | 14,384 | 202,113 | 830,394 | 5,714 | (43,035 | ) | 1,009,570 | ||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | — | 23,300 | 23,300 | |||||||||||||||||||
Redeemable members’ interest | — | 23,300 | — | — | (23,300 | ) | — | ||||||||||||||||||
Total member’s interest | 349,270 | 133,644 | 345,122 | 11,202 | (488,734 | ) | 350,504 | ||||||||||||||||||
Total liabilities, redeemable noncontrolling interest and member’s interest | $ | 363,654 | $ | 359,057 | $ | 1,175,516 | $ | 16,916 | $ | (531,769 | ) | $ | 1,383,374 | ||||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||||||
December 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash | $ | 697 | $ | 397 | $ | 30,981 | $ | 680 | $ | (5,324 | ) | $ | 27,431 | ||||||||||||
Accounts receivable, net | — | 7,421 | 90,765 | 3,255 | (1,143 | ) | 100,298 | ||||||||||||||||||
Intercompany receivables | 14,931 | 15,557 | 9,018 | — | (39,506 | ) | — | ||||||||||||||||||
Cost and estimated earnings in excess of billings | — | — | 11,428 | 147 | — | 11,575 | |||||||||||||||||||
Inventories | — | 7,073 | 84,555 | 1,349 | — | 92,977 | |||||||||||||||||||
Other current assets | 25 | 726 | 8,447 | 2,409 | (1,539 | ) | 10,068 | ||||||||||||||||||
Total current assets | 15,653 | 31,174 | 235,194 | 7,840 | (47,512 | ) | 242,349 | ||||||||||||||||||
Property, plant and equipment, net | 1,074 | 287,677 | 517,994 | 6,862 | — | 813,607 | |||||||||||||||||||
Goodwill | — | 23,124 | 155,024 | 972 | — | 179,120 | |||||||||||||||||||
Intangible assets, net | — | 742 | 7,864 | — | — | 8,606 | |||||||||||||||||||
Other assets | 374,581 | 11,891 | 161,442 | 1,315 | (511,698 | ) | 37,531 | ||||||||||||||||||
Total assets | $ | 391,308 | $ | 354,608 | $ | 1,077,518 | $ | 16,989 | $ | (559,210 | ) | $ | 1,281,213 | ||||||||||||
Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Current portion of debt | $ | — | $ | 965 | $ | 3,035 | $ | — | $ | — | $ | 4,000 | |||||||||||||
Current portion of acquisition-related liabilities | — | — | 9,525 | — | — | 9,525 | |||||||||||||||||||
Accounts payable | 2,745 | 6,715 | 51,179 | 2,138 | (1,143 | ) | 61,634 | ||||||||||||||||||
Accrued expenses | 6,877 | 10,742 | 38,050 | 1,015 | (6,862 | ) | 49,822 | ||||||||||||||||||
Intercompany payables | — | — | 33,396 | 6,110 | (39,506 | ) | — | ||||||||||||||||||
Billings in excess of costs and estimated earnings | — | — | 6,656 | 270 | — | 6,926 | |||||||||||||||||||
Total current liabilities | 9,622 | 18,422 | 141,841 | 9,533 | (47,511 | ) | 131,907 | ||||||||||||||||||
Long-term debt | — | 155,394 | 480,449 | — | — | 635,843 | |||||||||||||||||||
Acquisition-related liabilities | — | — | 23,919 | — | — | 23,919 | |||||||||||||||||||
Other noncurrent liabilities | 395 | 27,091 | 56,780 | — | — | 84,266 | |||||||||||||||||||
Total liabilities | 10,017 | 200,907 | 702,989 | 9,533 | (47,511 | ) | 875,935 | ||||||||||||||||||
Redeemable noncontrolling interest | — | — | — | — | 22,850 | 22,850 | |||||||||||||||||||
Redeemable members’ interest | — | 22,850 | — | — | (22,850 | ) | — | ||||||||||||||||||
Total member’s interest | 381,291 | 130,851 | 374,529 | 7,456 | (511,699 | ) | 382,428 | ||||||||||||||||||
Total liabilities, redeemable noncontrolling interest and member’s interest | $ | 391,308 | $ | 354,608 | $ | 1,077,518 | $ | 16,989 | $ | (559,210 | ) | $ | 1,281,213 | ||||||||||||
Guarantor and Non Guarantor Financial Information | ' | ||||||||||||||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the three months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 29,889 | $ | 279,377 | $ | 11,238 | $ | (4,241 | ) | $ | 316,263 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 18,222 | 205,299 | 6,003 | (4,241 | ) | 225,283 | ||||||||||||||||||
General and administrative expenses | 1,131 | 1,779 | 30,552 | 360 | — | 33,822 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 158 | 2,922 | 15,224 | 248 | — | 18,552 | |||||||||||||||||||
Transaction costs | — | — | 711 | — | — | 711 | |||||||||||||||||||
Operating (loss) income | (1,289 | ) | 6,966 | 27,591 | 4,627 | — | 37,895 | ||||||||||||||||||
Other (income) expense, net | (21,541 | ) | (1,219 | ) | (2,734 | ) | 7 | 24,336 | (1,151 | ) | |||||||||||||||
Interest expense | — | 2,725 | 12,811 | 93 | (1,098 | ) | 14,531 | ||||||||||||||||||
Income from continuing operations before taxes | 20,252 | 5,460 | 17,514 | 4,527 | (23,238 | ) | 24,515 | ||||||||||||||||||
Income tax expense | 85 | — | 1,480 | — | — | 1,565 | |||||||||||||||||||
Income from continuing operations | 20,167 | 5,460 | 16,034 | 4,527 | (23,238 | ) | 22,950 | ||||||||||||||||||
Loss from discontinued operations | — | — | (160 | ) | — | — | (160 | ) | |||||||||||||||||
Net income | 20,167 | 5,460 | 15,874 | 4,527 | (23,238 | ) | 22,790 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 2,623 | 2,623 | |||||||||||||||||||
Net income attributable to member of Summit Materials, LLC | $ | 20,167 | $ | 5,460 | $ | 15,874 | $ | 4,527 | $ | (25,861 | ) | $ | 20,167 | ||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the three months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 26,983 | $ | 286,407 | $ | 9,417 | $ | (3,626 | ) | $ | 319,181 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 18,882 | 218,370 | 5,553 | (3,626 | ) | 239,179 | ||||||||||||||||||
General and administrative expenses | (2,561 | ) | 1,608 | 29,966 | 256 | — | 29,269 | ||||||||||||||||||
Depreciation, depletion, amortization and accretion | 18 | 2,552 | 14,424 | 257 | — | 17,251 | |||||||||||||||||||
Transaction costs | — | — | 233 | — | — | 233 | |||||||||||||||||||
Operating income | 2,543 | 3,941 | 23,414 | 3,351 | — | 33,249 | |||||||||||||||||||
Other income, net | (14,727 | ) | (612 | ) | (1,524 | ) | (115 | ) | 15,831 | (1,147 | ) | ||||||||||||||
Interest expense | — | 3,024 | 11,690 | 186 | (309 | ) | 14,591 | ||||||||||||||||||
Income from continuing operations before taxes | 17,270 | 1,529 | 13,248 | 3,280 | (15,522 | ) | 19,805 | ||||||||||||||||||
Income tax expense | — | — | 149 | — | — | 149 | |||||||||||||||||||
Income from continuing operations | 17,270 | 1,529 | 13,099 | 3,280 | (15,522 | ) | 19,656 | ||||||||||||||||||
Loss from discontinued operations | — | — | (1,287 | ) | — | — | (1,287 | ) | |||||||||||||||||
Net income | 17,270 | 1,529 | 11,812 | 3,280 | (15,522 | ) | 18,369 | ||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 1,099 | 1,099 | |||||||||||||||||||
Net income attributable to member of Summit Materials, LLC | $ | 17,270 | $ | 1,529 | $ | 11,812 | $ | 3,280 | $ | (16,621 | ) | $ | 17,270 | ||||||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the nine months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 62,688 | $ | 594,272 | $ | 31,724 | $ | (10,750 | ) | $ | 677,934 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 46,055 | 448,655 | 19,238 | (10,750 | ) | 503,198 | ||||||||||||||||||
General and administrative expenses | 4,027 | 6,862 | 95,386 | 944 | — | 107,219 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 202 | 8,454 | 45,162 | 759 | — | 54,577 | |||||||||||||||||||
Transaction costs | — | — | 3,175 | — | — | 3,175 | |||||||||||||||||||
Operating (loss) income | (4,229 | ) | 1,317 | 1,894 | 10,783 | — | 9,765 | ||||||||||||||||||
Other expense (income), net | 30,008 | (2,513 | ) | (1,206 | ) | 181 | (24,343 | ) | 2,127 | ||||||||||||||||
Interest expense | — | 8,148 | 36,906 | 332 | (3,006 | ) | 42,380 | ||||||||||||||||||
(Loss) income from continuing operations before taxes | (34,237 | ) | (4,318 | ) | (33,806 | ) | 10,270 | 27,349 | (34,742 | ) | |||||||||||||||
Income tax (benefit) expense | 85 | — | (1,867 | ) | — | — | (1,782 | ) | |||||||||||||||||
(Loss) income from continuing operations | (34,322 | ) | (4,318 | ) | (31,939 | ) | 10,270 | 27,349 | (32,960 | ) | |||||||||||||||
Loss from discontinued operations | — | — | (257 | ) | — | — | (257 | ) | |||||||||||||||||
Net (loss) income | (34,322 | ) | (4,318 | ) | (32,196 | ) | 10,270 | 27,349 | (33,217 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 1,105 | 1,105 | |||||||||||||||||||
Net (loss) income attributable to member of Summit Materials, LLC | $ | (34,322 | ) | $ | (4,318 | ) | $ | (32,196 | ) | $ | 10,270 | $ | 26,244 | $ | (34,322 | ) | |||||||||
Condensed Consolidating Statements of Operations | |||||||||||||||||||||||||
For the nine months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Revenue | $ | — | $ | 59,986 | $ | 622,278 | $ | 22,269 | $ | (9,913 | ) | $ | 694,620 | ||||||||||||
Cost of revenue (excluding items shown separately below) | — | 45,173 | 497,433 | 12,029 | (9,913 | ) | 544,722 | ||||||||||||||||||
General and administrative expenses | 261 | 4,519 | 89,600 | 806 | — | 95,186 | |||||||||||||||||||
Depreciation, depletion, amortization and accretion | 59 | 7,544 | 42,476 | 775 | — | 50,854 | |||||||||||||||||||
Transaction costs | — | — | 1,765 | — | — | 1,765 | |||||||||||||||||||
Operating (loss) income | (320 | ) | 2,750 | (8,996 | ) | 8,659 | — | 2,093 | |||||||||||||||||
Other expense (income), net | 50,730 | (1,107 | ) | 6,930 | (35 | ) | (48,564 | ) | 7,954 | ||||||||||||||||
Interest expense | — | 9,145 | 34,892 | 495 | (1,115 | ) | 43,417 | ||||||||||||||||||
(Loss) income from continuing operations before taxes | (51,050 | ) | (5,288 | ) | (50,818 | ) | 8,199 | 49,679 | (49,278 | ) | |||||||||||||||
Income tax expense (benefit) | 5 | — | (1,819 | ) | — | — | (1,814 | ) | |||||||||||||||||
(Loss) income from continuing operations | (51,055 | ) | (5,288 | ) | (48,999 | ) | 8,199 | 49,679 | (47,464 | ) | |||||||||||||||
Loss from discontinued operations | — | — | (3,011 | ) | — | — | (3,011 | ) | |||||||||||||||||
Net (loss) income | (51,055 | ) | (5,288 | ) | (52,010 | ) | 8,199 | 49,679 | (50,475 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | — | 580 | 580 | |||||||||||||||||||
Net (loss) income attributable to member of Summit Materials, LLC | $ | (51,055 | ) | $ | (5,288 | ) | $ | (52,010 | ) | $ | 8,199 | $ | 49,099 | $ | (51,055 | ) | |||||||||
Schedule of Condensed Consolidating Statements of Cash Flows | ' | ||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||
For the nine months ended September 28, 2013 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 925 | $ | (3,662 | ) | $ | (5,118 | ) | $ | 7,978 | $ | — | $ | 123 | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||||||
Acquisitions, net of cash acquired | — | — | (60,913 | ) | — | — | (60,913 | ) | |||||||||||||||||
Purchase of property, plant and equipment | (2,120 | ) | (20,265 | ) | (30,184 | ) | (1,090 | ) | — | (53,659 | ) | ||||||||||||||
Proceeds from the sale of property, plant, and equipment | — | — | 8,592 | 50 | — | 8,642 | |||||||||||||||||||
Net cash used for investing activities | (2,120 | ) | (20,265 | ) | (82,505 | ) | (1,040 | ) | — | (105,930 | ) | ||||||||||||||
Cash flow from financing activities: | |||||||||||||||||||||||||
Net proceeds from debt issuance | 214,390 | — | — | — | — | 214,390 | |||||||||||||||||||
Loans received from and payments made on loans from other Summit Companies | (100,401 | ) | 23,539 | 84,360 | (6,540 | ) | (958 | ) | — | ||||||||||||||||
Payments on long-term debt | (111,884 | ) | — | — | — | — | (111,884 | ) | |||||||||||||||||
Payments on acquisition-related liabilities | — | — | (4,923 | ) | — | — | (4,923 | ) | |||||||||||||||||
Net cash provided by (used for) financing activities | 2,105 | 23,539 | 79,437 | (6,540 | ) | (958 | ) | 97,583 | |||||||||||||||||
Net increase (decrease) in cash | 910 | (388 | ) | (8,186 | ) | 398 | (958 | ) | (8,224 | ) | |||||||||||||||
Cash — Beginning of period | 697 | 397 | 30,981 | 680 | (5,324 | ) | 27,431 | ||||||||||||||||||
Cash— End of period | $ | 1,607 | $ | 9 | $ | 22,795 | $ | 1,078 | $ | (6,282 | ) | $ | 19,207 | ||||||||||||
Condensed Consolidating Statements of Cash Flows | |||||||||||||||||||||||||
For the nine months ended September 29, 2012 | |||||||||||||||||||||||||
Summit | Non- | Wholly- | Non- | Eliminations | Consolidated | ||||||||||||||||||||
Materials, | Wholly- | owned | Guarantors | ||||||||||||||||||||||
LLC | owned | Guarantors | |||||||||||||||||||||||
(Parent) | Guarantor | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 5,581 | $ | 4,037 | $ | (27,762 | ) | $ | 6,289 | $ | — | $ | (11,855 | ) | |||||||||||
Cash flow from investing activities: | |||||||||||||||||||||||||
Acquisitions, net of cash acquired | — | — | (42,933 | ) | — | — | (42,933 | ) | |||||||||||||||||
Purchase of property, plant and equipment | (51 | ) | (9,607 | ) | (26,837 | ) | (317 | ) | — | (36,812 | ) | ||||||||||||||
Proceeds from the sale of property, plant, and equipment | — | 66 | 4,053 | 125 | — | 4,244 | |||||||||||||||||||
Other | — | — | 69 | — | — | 69 | |||||||||||||||||||
Net cash used for investing activities | (51 | ) | (9,541 | ) | (65,648 | ) | (192 | ) | — | (75,432 | ) | ||||||||||||||
Cash flow from financing activities: | |||||||||||||||||||||||||
Net proceeds from debt issuance | 248,297 | 6,983 | 63,482 | — | (70,462 | ) | 248,300 | ||||||||||||||||||
Loans received from and payments made on loans from other Summit Companies | (79,174 | ) | 6,460 | 66,853 | (6,648 | ) | 12,509 | — | |||||||||||||||||
Payments on long-term debt | (177,892 | ) | (5,783 | ) | (51,933 | ) | — | 57,716 | (177,892 | ) | |||||||||||||||
Payments on acquisition-related liabilities | — | — | (4,067 | ) | — | — | (4,067 | ) | |||||||||||||||||
Other | (656 | ) | — | — | (282 | ) | 237 | (701 | ) | ||||||||||||||||
Net cash (used for) provided by financing activities | (9,425 | ) | 7,660 | 74,335 | (6,930 | ) | — | 65,640 | |||||||||||||||||
Net decrease (increase) in cash | (3,895 | ) | 2,156 | (19,075 | ) | (833 | ) | — | (21,647 | ) | |||||||||||||||
Cash — Beginning of period | 6,701 | 8 | 33,997 | 2,084 | — | 42,790 | |||||||||||||||||||
Cash— End of period | $ | 2,806 | $ | 2,164 | $ | 14,922 | $ | 1,251 | $ | — | $ | 21,143 |
Summary_of_Organization_and_Si2
Summary of Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 29, 2012 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Dec. 29, 2012 | |
Customer | Customer | Customer | Customer | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Class A Units [Member] | Class B Units [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Sales [Member] | Level 3 [Member] | Level 3 [Member] | Level 2 [Member] | Level 2 [Member] | ||
Segment | |||||||||||||||||
State | |||||||||||||||||
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segment | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating states | ' | ' | 18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer accounted revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' |
Number of customers accounted for more than 10% of total revenue | 0 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration obligations - current | ' | ' | ' | ' | ' | ' | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration obligations - non-current | ' | ' | ' | ' | ' | 1,900,000 | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of earn-out obligations | 1,900,000 | ' | 1,900,000 | ' | 2,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.20% | ' | ' | ' |
Adjustments to the fair value of contingent consideration | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of deferred consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,300,000 | 23,400,000 | ' | ' |
Fair value of noncompete obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | 7,400,000 | ' | ' |
Fair value of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 685,900,000 | 670,700,000 |
Carrying value of long-term debt | $663,718,000 | ' | $663,718,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $663,700,000 | $639,800,000 |
Economic interest of redeemable noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | 69.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest percentage | ' | ' | ' | ' | ' | ' | ' | ' | 30.30% | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) | 9 Months Ended |
Sep. 28, 2013 | |
2013 Acquisitions [Member] | Central Region [Member] | ' |
Business Acquisition [Line Items] | ' |
Business acquisition date | 1-Apr-13 |
2013 Acquisitions [Member] | West Region [Member] | ' |
Business Acquisition [Line Items] | ' |
Business acquisition date | 1-Apr-13 |
2012 Acquisitions [Member] | Central Region [Member] | ' |
Business Acquisition [Line Items] | ' |
Business acquisition date | 29-Feb-12 |
2012 Acquisitions [Member] | West Region [Member] | ' |
Business Acquisition [Line Items] | ' |
Business acquisition date | 30-Nov-12 |
2012 Acquisitions [Member] | East Region [Member] | ' |
Business Acquisition [Line Items] | ' |
Business acquisition date | 5-Oct-12 |
Acquisitions_Summary_of_Fair_V
Acquisitions - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Detail) (Series of Individually Immaterial Business Acquisitions [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 28, 2013 | Dec. 29, 2012 |
Series of Individually Immaterial Business Acquisitions [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Financial assets | $8,244 | $1,403 |
Inventories | 3,954 | 6,988 |
Property, plant and equipment | 40,009 | 21,508 |
Intangible assets | 7,253 | 3,172 |
Other assets | 51 | 1,330 |
Financial liabilities | -6,082 | -944 |
Other long-term liabilities | -1,016 | -364 |
Net assets acquired | 52,413 | 33,093 |
Goodwill from current period acquisitions and working capital adjustments | 16,120 | 26,259 |
Purchase price | 68,533 | 59,352 |
Noncash transactions: | ' | ' |
Acquisition related liabilities | -7,902 | -10,547 |
Other | 282 | -48 |
Total noncash transactions | -7,620 | -10,595 |
Net cash paid for acquisitions | $60,913 | $48,757 |
Acquisitions_Summary_of_Fair_V1
Acquisitions - Summary of Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) | 9 Months Ended |
Sep. 28, 2013 | |
Business Combinations [Abstract] | ' |
Acquired intangible assets weighted average life | '21 years |
Acquisitions_Supplemental_Pro_
Acquisitions - Supplemental Pro Forma Information of Acquisitions (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 29, 2012 | Sep. 29, 2012 |
Business Combinations [Abstract] | ' | ' |
Revenue | $326,954 | $708,230 |
Net income (loss) | $19,008 | ($48,306) |
Goodwill_Changes_in_Carrying_A
Goodwill - Changes in Carrying Amount of Goodwill, by Reportable Segment (Detail) (USD $) | 9 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Dec. 29, 2012 |
Central Region [Member] | Central Region [Member] | West Region [Member] | East Region [Member] | East Region [Member] | ||
Goodwill [Line Items] | ' | ' | ' | ' | ' | ' |
Beginning Balance | $179,120 | $72,789 | $72,789 | $91,393 | $14,938 | $14,938 |
Acquisitions | 16,120 | ' | ' | 16,120 | ' | ' |
Ending Balance | $195,240 | $72,789 | $72,789 | $107,513 | $14,938 | $14,938 |
Goodwill_Changes_in_Carrying_A1
Goodwill - Changes in Carrying Amount of Goodwill, by Reportable Segment (Parenthetical) (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 28, 2013 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Acquisition related adjustments for working capital settlement | $1.90 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 29, 2012 | Sep. 28, 2013 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' |
Sale of railroad construction, repair business and environmental business | $3.10 | ' |
Other current assets | ' | $3.70 |
Discontinued_Operations_Revenu
Discontinued Operations - Revenue and Loss before Income Tax Expense from Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' | ' | ' |
Revenue | $203 | $17,815 | $4,008 | $43,715 |
Loss from discontinued operations before income tax expense | ($160) | ($1,287) | ($257) | ($3,011) |
Accounts_Receivable_Net_Summar
Accounts Receivable, Net - Summary of Accounts Receivable, Net (Detail) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Trade accounts receivable | $114,195 | $88,637 |
Retention receivables | 14,644 | 13,181 |
Receivables from related parties | 1,307 | 1,871 |
Accounts receivable | 130,146 | 103,689 |
Less: Allowance for doubtful accounts | -3,110 | -3,391 |
Accounts receivable, net | $127,036 | $100,298 |
Inventories_Components_of_Inve
Inventories - Components of Inventories (Detail) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Aggregate stockpiles | $70,857 | $62,872 |
Finished goods | 9,368 | 9,342 |
Work in process | 2,798 | 2,679 |
Raw materials | 13,208 | 18,084 |
Total | $96,231 | $92,977 |
Debt_Schedule_of_Debt_Detail
Debt - Schedule of Debt (Detail) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Senior secured credit facility, revolver | $84,000 | ' |
Long-term debt: | ' | ' |
Long-term debt, total | 663,718 | ' |
Total | 663,718 | 639,843 |
Current portion of long-term debt | 4,220 | 4,000 |
Long-term debt | 659,498 | 635,843 |
Senior Secured Credit Facility [Member] | ' | ' |
Long-term debt: | ' | ' |
Long-term debt, total | 417,918 | 394,540 |
Senior Notes [Member] | ' | ' |
Long-term debt: | ' | ' |
Long-term debt, total | $245,800 | $245,303 |
Debt_Schedule_of_Debt_Parenthe
Debt - Schedule of Debt (Parenthetical) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 28, 2013 | Dec. 29, 2012 | Jan. 31, 2012 |
Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long-term debt, Face value | $250 | $250 | $250 |
Original issuance discount | 4.2 | 4.7 | ' |
Senior Secured Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long-term debt, Face value | 420.9 | 420.9 | ' |
Original issuance discount | 3 | 3.5 | ' |
Senior Secured Credit Facility, Revolver [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long-term debt, Face value | ' | ' | $150 |
Revolving senior secured credit facility due date | '2017 | ' | ' |
Term of revolving senior secured credit facility | '5 years | ' | ' |
Debt_Schedule_of_Contractual_P
Debt - Schedule of Contractual Payments Long-Term Debt (Detail) (USD $) | Sep. 28, 2013 | Jan. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2013 (three months) | $1,055 | ' |
2014 | 4,220 | ' |
2015 | 4,220 | ' |
2016 | 5,275 | ' |
2017 | 4,220 | ' |
2018 | 3,165 | ' |
Thereafter | 648,790 | ' |
Total | 670,945 | ' |
Less: Original issue discount | -7,227 | -9,500 |
Total debt | $663,718 | ' |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 29, 2012 | Jan. 31, 2012 | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Accrued interest on long term debt | $10,600,000 | ' | $10,600,000 | ' | $19,700,000 | ' |
Interest expense | 12,900,000 | 13,500,000 | 37,500,000 | 39,100,000 | ' | ' |
Original issuance discount | 7,227,000 | ' | 7,227,000 | ' | ' | 9,500,000 |
Remaining borrowing capacity | 84,000,000 | ' | 84,000,000 | ' | ' | ' |
Amortization of deferred financing fees | ' | ' | 11,400,000 | ' | 12,600,000 | ' |
Senior Secured Credit Facility [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | 420,900,000 | ' | 420,900,000 | ' | 420,900,000 | ' |
Interest rate | 1.00% | ' | 1.00% | ' | ' | ' |
Maturity date | ' | ' | 30-Jan-19 | ' | ' | ' |
Maximum borrowing capacity on credit facility | 422,000,000 | ' | 422,000,000 | ' | ' | ' |
Quarterly principal repayments percentage | ' | ' | 0.25% | ' | ' | ' |
Frequency of periodic payment | ' | ' | 'Term debt due on the last business day of each March, June, September and December. | ' | ' | ' |
Additional borrowing | ' | ' | 25,000,000 | ' | ' | ' |
Credit facility revolving commitments | ' | ' | 150,000,000 | ' | ' | ' |
Senior Secured Credit Facility, Revolver [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | 150,000,000 |
Maturity date of debt instrument | ' | ' | 30-Jan-17 | ' | ' | ' |
Interest rate - Revolving credit commitments | ' | ' | 3.70% | ' | ' | ' |
Remaining borrowing capacity | 84,000,000 | ' | 84,000,000 | ' | ' | ' |
Outstanding letters of credit | 47,700,000 | ' | 47,700,000 | ' | ' | ' |
Senior Secured Credit Facility, Revolver [Member] | Base Rate [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Interest rate - Revolving credit commitments | ' | ' | 3.50% | ' | ' | ' |
Senior Secured Credit Facility, Revolver [Member] | Federal Funds Rate [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Interest rate - Revolving credit commitments | ' | ' | 0.50% | ' | ' | ' |
Senior Secured Credit Facility, Revolver [Member] | LIBOR Rate Plus [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Interest rate - Revolving credit commitments | ' | ' | 1.00% | ' | ' | ' |
Term Loan Credit Facility [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity on credit facility | ' | ' | ' | ' | ' | 422,000,000 |
Letter of Credit [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | 18,300,000 | ' | 18,300,000 | ' | ' | ' |
Senior Notes [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | $250,000,000 | ' | $250,000,000 | ' | $250,000,000 | $250,000,000 |
Interest rate | ' | ' | ' | ' | ' | 10.50% |
Maturity date | ' | ' | 31-Jan-20 | ' | ' | ' |
Commencement of interest payments | ' | ' | 31-Jul-12 | ' | ' | ' |
First Lien Net Leverage Ratio - April 1, 2012 through June 30, 2014 [Member] | Senior Secured Credit Facility [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
First lien leverage ratio | ' | ' | 4.75 | ' | ' | ' |
First Lien Net Leverage Ratio - July 1, 2014 to June 30, 2015 [Member] | Senior Secured Credit Facility [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
First lien leverage ratio | ' | ' | 4.5 | ' | ' | ' |
First Lien Net Leverage Ratio - Thereafter [Member] | Senior Secured Credit Facility [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
First lien leverage ratio | ' | ' | 4.25 | ' | ' | ' |
Interest Coverage Ratio - January 1, 2013 to December 31, 2014 [Member] | Senior Secured Credit Facility [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Interest coverage ratio, maximum | ' | ' | 1.7 | ' | ' | ' |
Interest Coverage Ratio - Thereafter [Member] | Senior Secured Credit Facility [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Interest coverage ratio, maximum | ' | ' | 1.85 | ' | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Liability for uncertain tax position | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Jun. 29, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 29, 2011 | Dec. 29, 2012 |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Amount funded for loss incurred by joint venture | ' | $8.80 | $4 | $4.80 | ' |
Accrual recorded in other noncurrent liabilities | ' | 4.3 | ' | ' | 4.3 |
Dispute payment to seller | 2.7 | ' | ' | ' | ' |
Unapproved change orders and claims | ' | 4 | ' | ' | 4.8 |
Costs and estimated earnings in excess of billings | ' | 0.4 | ' | ' | 1.6 |
Other assets | ' | 3.6 | ' | ' | 3.2 |
Charges recognized for lost product | ' | 3.3 | ' | ' | ' |
Charges recognized for lost product included in accrued expenses | ' | 1.8 | ' | ' | ' |
Harper [Member] | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' |
Dispute payment to seller | ' | 1.9 | ' | ' | ' |
Litigation expenses related dispute | ' | $0.80 | ' | ' | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Cash payments: | ' | ' |
Interest | $45,558 | $35,798 |
Income taxes | $653 | $704 |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 9 Months Ended |
Sep. 28, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments | 3 |
Segment_Information_Summary_of
Segment Information - Summary of Financial Data for Company's Reportable Business Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 29, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | $316,263 | $319,181 | $677,934 | $694,620 | ' |
Income (loss) from continuing operations before taxes | 24,515 | 19,805 | -34,742 | -49,278 | ' |
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 | ' |
Total capital expenditures | ' | ' | 53,659 | 36,812 | ' |
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 | ' |
Total assets | 1,383,374 | ' | 1,383,374 | ' | 1,281,213 |
Operating Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total capital expenditures | ' | ' | 51,538 | 36,761 | ' |
Depreciation, depletion, amortization and accretion | 18,393 | 17,233 | 54,375 | 50,795 | ' |
Total assets | 1,362,440 | ' | 1,362,440 | ' | 1,262,721 |
Operating Segments [Member] | Aggregates [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 51,454 | 44,446 | 119,757 | 111,127 | ' |
Operating Segments [Member] | Asphalt [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 87,277 | 99,981 | 162,485 | 182,147 | ' |
Operating Segments [Member] | Ready Mixed Concrete [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 36,035 | 31,035 | 82,447 | 77,572 | ' |
Operating Segments [Member] | Cement [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 28,245 | 25,799 | 59,160 | 57,176 | ' |
Operating Segments [Member] | Construction and Paving [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 171,399 | 189,417 | 343,346 | 373,504 | ' |
Operating Segments [Member] | Central Region [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 115,527 | 97,580 | 244,207 | 226,077 | ' |
Income (loss) from continuing operations before taxes | 30,710 | 22,560 | 49,892 | 45,177 | ' |
Total capital expenditures | ' | ' | 26,581 | 17,604 | ' |
Depreciation, depletion, amortization and accretion | 8,756 | 7,537 | 25,084 | 22,414 | ' |
Total assets | 672,322 | ' | 672,322 | ' | 610,003 |
Operating Segments [Member] | West Region [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 142,921 | 173,642 | 322,640 | 369,767 | ' |
Income (loss) from continuing operations before taxes | 19,175 | 17,248 | 19,260 | 7,598 | ' |
Total capital expenditures | ' | ' | 17,912 | 12,512 | ' |
Depreciation, depletion, amortization and accretion | 6,151 | 6,163 | 18,443 | 17,825 | ' |
Total assets | 465,865 | ' | 465,865 | ' | 428,115 |
Operating Segments [Member] | East Region [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | 57,815 | 47,959 | 111,087 | 98,776 | ' |
Income (loss) from continuing operations before taxes | 13,167 | 14,129 | 10,790 | 5,556 | ' |
Total capital expenditures | ' | ' | 7,045 | 6,645 | ' |
Depreciation, depletion, amortization and accretion | 3,486 | 3,533 | 10,848 | 10,556 | ' |
Total assets | 224,253 | ' | 224,253 | ' | 224,603 |
Corporate and Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Income (loss) from continuing operations before taxes | -5,454 | -2,290 | -17,727 | -13,338 | ' |
Total capital expenditures | ' | ' | 2,121 | 51 | ' |
Depreciation, depletion, amortization and accretion | 159 | 18 | 202 | 59 | ' |
Total assets | 20,934 | ' | 20,934 | ' | 18,492 |
Operating Segment and Corporate and Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Income (loss) from continuing operations before taxes | 57,598 | 51,647 | 62,215 | 44,993 | ' |
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 | ' |
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 | ' |
Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Total revenue | ($58,147) | ($71,497) | ($89,261) | ($106,906) | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 | Dec. 29, 2012 |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Revenue from unconsolidated affiliates | $0.10 | $2.40 | $0.50 | $5.50 | ' |
Accounts receivable from affiliates | 0.2 | ' | 0.2 | ' | 1.9 |
Blackstone Management Partners L.L.C. [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Management fees incurred | 0.8 | 0.8 | 2 | 1.7 | ' |
Continental Cement [Member] | ' | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' |
Sales to related parties | 4.9 | 3.6 | 10 | 8.8 | ' |
Accounts receivables due from related parties | 1.3 | ' | 1.3 | ' | 1 |
Accounts payable to noncontrolling member | $0.80 | ' | $0.80 | ' | $2.10 |
Senior_Notes_Guarantor_and_Non2
Senior Notes' Guarantor and Non Guarantor Financial Information - Schedule of Condensed Consolidating Balance Sheets (Detail) (USD $) | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $19,207 | $27,431 |
Accounts receivable, net | 127,036 | 100,298 |
Cost and estimated earnings in excess of billings | 32,504 | 11,575 |
Inventories | 96,231 | 92,977 |
Other current assets | 16,168 | 10,068 |
Total current assets | 291,146 | 242,349 |
Property, plant and equipment, net | 844,175 | 813,607 |
Goodwill | 195,240 | 179,120 |
Intangible assets, net | 15,238 | 8,606 |
Other assets | 37,575 | 37,531 |
Total assets | 1,383,374 | 1,281,213 |
Current liabilities: | ' | ' |
Current portion of debt | 88,220 | 4,000 |
Current portion of acquisition-related liabilities | 10,533 | 9,525 |
Accounts payable | 77,725 | 61,634 |
Accrued expenses | 57,418 | 49,822 |
Billings in excess of costs and estimated earnings | 4,655 | 6,926 |
Total current liabilities | 238,551 | 131,907 |
Long-term debt | 659,498 | 635,843 |
Acquisition-related liabilities | 27,990 | 23,919 |
Other noncurrent liabilities | 83,531 | 84,266 |
Total liabilities | 1,009,570 | 875,935 |
Redeemable noncontrolling interest | 23,300 | 22,850 |
Total member's interest | 350,504 | 382,428 |
Total liabilities, redeemable noncontrolling interest and member's interest | 1,383,374 | 1,281,213 |
Summit Materials LLC (Parent) [Member] | ' | ' |
Current assets: | ' | ' |
Cash | 1,607 | 697 |
Intercompany receivables | 12,826 | 14,931 |
Other current assets | 742 | 25 |
Total current assets | 15,175 | 15,653 |
Property, plant and equipment, net | 2,992 | 1,074 |
Other assets | 345,487 | 374,581 |
Total assets | 363,654 | 391,308 |
Current liabilities: | ' | ' |
Accounts payable | 3,169 | 2,745 |
Accrued expenses | 10,315 | 6,877 |
Total current liabilities | 13,484 | 9,622 |
Other noncurrent liabilities | 900 | 395 |
Total liabilities | 14,384 | 10,017 |
Total member's interest | 349,270 | 381,291 |
Total liabilities, redeemable noncontrolling interest and member's interest | 363,654 | 391,308 |
Non-Wholly-Owned Guarantor [Member] | ' | ' |
Current assets: | ' | ' |
Cash | 9 | 397 |
Accounts receivable, net | 11,972 | 7,421 |
Intercompany receivables | ' | 15,557 |
Inventories | 6,740 | 7,073 |
Other current assets | 573 | 726 |
Total current assets | 19,294 | 31,174 |
Property, plant and equipment, net | 300,343 | 287,677 |
Goodwill | 23,124 | 23,124 |
Intangible assets, net | 666 | 742 |
Other assets | 15,630 | 11,891 |
Total assets | 359,057 | 354,608 |
Current liabilities: | ' | ' |
Current portion of debt | 1,018 | 965 |
Accounts payable | 7,612 | 6,715 |
Accrued expenses | 8,430 | 10,742 |
Intercompany payables | 4,464 | ' |
Total current liabilities | 21,524 | 18,422 |
Long-term debt | 154,845 | 155,394 |
Other noncurrent liabilities | 25,744 | 27,091 |
Total liabilities | 202,113 | 200,907 |
Redeemable members' interest | 23,300 | 22,850 |
Total member's interest | 133,644 | 130,851 |
Total liabilities, redeemable noncontrolling interest and member's interest | 359,057 | 354,608 |
Wholly-Owned Guarantors [Member] | ' | ' |
Current assets: | ' | ' |
Cash | 22,795 | 30,981 |
Accounts receivable, net | 113,700 | 90,765 |
Intercompany receivables | 21,560 | 9,018 |
Cost and estimated earnings in excess of billings | 30,893 | 11,428 |
Inventories | 88,285 | 84,555 |
Other current assets | 15,030 | 8,447 |
Total current assets | 292,263 | 235,194 |
Property, plant and equipment, net | 533,677 | 517,994 |
Goodwill | 171,144 | 155,024 |
Intangible assets, net | 14,572 | 7,864 |
Other assets | 163,860 | 161,442 |
Total assets | 1,175,516 | 1,077,518 |
Current liabilities: | ' | ' |
Current portion of debt | 87,202 | 3,035 |
Current portion of acquisition-related liabilities | 10,533 | 9,525 |
Accounts payable | 67,991 | 51,179 |
Accrued expenses | 43,954 | 38,050 |
Intercompany payables | 26,618 | 33,396 |
Billings in excess of costs and estimated earnings | 4,566 | 6,656 |
Total current liabilities | 240,864 | 141,841 |
Long-term debt | 504,653 | 480,449 |
Acquisition-related liabilities | 27,990 | 23,919 |
Other noncurrent liabilities | 56,887 | 56,780 |
Total liabilities | 830,394 | 702,989 |
Total member's interest | 345,122 | 374,529 |
Total liabilities, redeemable noncontrolling interest and member's interest | 1,175,516 | 1,077,518 |
Non-Guarantors [Member] | ' | ' |
Current assets: | ' | ' |
Cash | 1,078 | 680 |
Accounts receivable, net | 3,290 | 3,255 |
Cost and estimated earnings in excess of billings | 1,611 | 147 |
Inventories | 1,206 | 1,349 |
Other current assets | 264 | 2,409 |
Total current assets | 7,449 | 7,840 |
Property, plant and equipment, net | 7,163 | 6,862 |
Goodwill | 972 | 972 |
Other assets | 1,332 | 1,315 |
Total assets | 16,916 | 16,989 |
Current liabilities: | ' | ' |
Accounts payable | 879 | 2,138 |
Accrued expenses | 1,442 | 1,015 |
Intercompany payables | 3,304 | 6,110 |
Billings in excess of costs and estimated earnings | 89 | 270 |
Total current liabilities | 5,714 | 9,533 |
Total liabilities | 5,714 | 9,533 |
Total member's interest | 11,202 | 7,456 |
Total liabilities, redeemable noncontrolling interest and member's interest | 16,916 | 16,989 |
Eliminations [Member] | ' | ' |
Current assets: | ' | ' |
Cash | -6,282 | -5,324 |
Accounts receivable, net | -1,926 | -1,143 |
Intercompany receivables | -34,386 | -39,506 |
Other current assets | -441 | -1,539 |
Total current assets | -43,035 | -47,512 |
Other assets | -488,734 | -511,698 |
Total assets | -531,769 | -559,210 |
Current liabilities: | ' | ' |
Accounts payable | -1,926 | -1,143 |
Accrued expenses | -6,723 | -6,862 |
Intercompany payables | -34,386 | -39,506 |
Total current liabilities | -43,035 | -47,511 |
Total liabilities | -43,035 | -47,511 |
Redeemable noncontrolling interest | 23,300 | 22,850 |
Redeemable members' interest | -23,300 | -22,850 |
Total member's interest | -488,734 | -511,699 |
Total liabilities, redeemable noncontrolling interest and member's interest | ($531,769) | ($559,210) |
Senior_Notes_Guarantor_and_Non3
Senior Notes' Guarantor and Non Guarantor Financial Information - Schedule of Condensed Consolidating Statements of Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Sep. 29, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue | $316,263 | $319,181 | $677,934 | $694,620 |
Cost of revenue (excluding items shown separately below) | 225,283 | 239,179 | 503,198 | 544,722 |
General and administrative expenses | 33,822 | 29,269 | 107,219 | 95,186 |
Depreciation, depletion, amortization and accretion | 18,552 | 17,251 | 54,577 | 50,854 |
Transaction costs | 711 | 233 | 3,175 | 1,765 |
Operating (loss) income | 37,895 | 33,249 | 9,765 | 2,093 |
Other expense (income), net | -1,151 | -1,232 | -988 | -291 |
Interest expense | 14,531 | 14,591 | 42,380 | 43,417 |
Income (loss) from continuing operations before taxes | 24,515 | 19,805 | -34,742 | -49,278 |
Income tax expense (benefit) | 1,565 | 149 | -1,782 | -1,814 |
(Loss) income from continuing operations | 22,950 | 19,656 | -32,960 | -47,464 |
Loss from discontinued operations | -160 | -1,287 | -257 | -3,011 |
Net (loss) income | 22,790 | 18,369 | -33,217 | -50,475 |
Net income (loss) attributable to noncontrolling interest | 2,623 | 1,099 | 1,105 | 580 |
Net (loss) income attributable to member of Summit Materials, LLC | 20,167 | 17,270 | -34,322 | -51,055 |
Summit Materials LLC (Parent) [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
General and administrative expenses | 1,131 | -2,561 | 4,027 | 261 |
Depreciation, depletion, amortization and accretion | 158 | 18 | 202 | 59 |
Operating (loss) income | -1,289 | 2,543 | -4,229 | -320 |
Other expense (income), net | -21,541 | -14,727 | 30,008 | 50,730 |
Income (loss) from continuing operations before taxes | 20,252 | 17,270 | -34,237 | -51,050 |
Income tax expense (benefit) | 85 | ' | 85 | 5 |
(Loss) income from continuing operations | 20,167 | 17,270 | -34,322 | -51,055 |
Net (loss) income | 20,167 | 17,270 | -34,322 | -51,055 |
Net (loss) income attributable to member of Summit Materials, LLC | 20,167 | 17,270 | -34,322 | -51,055 |
Non-Wholly-Owned Guarantor [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue | 29,889 | 26,983 | 62,688 | 59,986 |
Cost of revenue (excluding items shown separately below) | 18,222 | 18,882 | 46,055 | 45,173 |
General and administrative expenses | 1,779 | 1,608 | 6,862 | 4,519 |
Depreciation, depletion, amortization and accretion | 2,922 | 2,552 | 8,454 | 7,544 |
Operating (loss) income | 6,966 | 3,941 | 1,317 | 2,750 |
Other expense (income), net | -1,219 | -612 | -2,513 | -1,107 |
Interest expense | 2,725 | 3,024 | 8,148 | 9,145 |
Income (loss) from continuing operations before taxes | 5,460 | 1,529 | -4,318 | -5,288 |
(Loss) income from continuing operations | 5,460 | 1,529 | -4,318 | -5,288 |
Net (loss) income | 5,460 | 1,529 | -4,318 | -5,288 |
Net (loss) income attributable to member of Summit Materials, LLC | 5,460 | 1,529 | -4,318 | -5,288 |
Wholly-Owned Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue | 279,377 | 286,407 | 594,272 | 622,278 |
Cost of revenue (excluding items shown separately below) | 205,299 | 218,370 | 448,655 | 497,433 |
General and administrative expenses | 30,552 | 29,966 | 95,386 | 89,600 |
Depreciation, depletion, amortization and accretion | 15,224 | 14,424 | 45,162 | 42,476 |
Transaction costs | 711 | 233 | 3,175 | 1,765 |
Operating (loss) income | 27,591 | 23,414 | 1,894 | -8,996 |
Other expense (income), net | -2,734 | -1,524 | -1,206 | 6,930 |
Interest expense | 12,811 | 11,690 | 36,906 | 34,892 |
Income (loss) from continuing operations before taxes | 17,514 | 13,248 | -33,806 | -50,818 |
Income tax expense (benefit) | 1,480 | 149 | -1,867 | -1,819 |
(Loss) income from continuing operations | 16,034 | 13,099 | -31,939 | -48,999 |
Loss from discontinued operations | -160 | -1,287 | -257 | -3,011 |
Net (loss) income | 15,874 | 11,812 | -32,196 | -52,010 |
Net (loss) income attributable to member of Summit Materials, LLC | 15,874 | 11,812 | -32,196 | -52,010 |
Non-Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue | 11,238 | 9,417 | 31,724 | 22,269 |
Cost of revenue (excluding items shown separately below) | 6,003 | 5,553 | 19,238 | 12,029 |
General and administrative expenses | 360 | 256 | 944 | 806 |
Depreciation, depletion, amortization and accretion | 248 | 257 | 759 | 775 |
Operating (loss) income | 4,627 | 3,351 | 10,783 | 8,659 |
Other expense (income), net | 7 | -115 | 181 | -35 |
Interest expense | 93 | 186 | 332 | 495 |
Income (loss) from continuing operations before taxes | 4,527 | 3,280 | 10,270 | 8,199 |
(Loss) income from continuing operations | 4,527 | 3,280 | 10,270 | 8,199 |
Net (loss) income | 4,527 | 3,280 | 10,270 | 8,199 |
Net (loss) income attributable to member of Summit Materials, LLC | 4,527 | 3,280 | 10,270 | 8,199 |
Eliminations [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Revenue | -4,241 | -3,626 | -10,750 | -9,913 |
Cost of revenue (excluding items shown separately below) | -4,241 | -3,626 | -10,750 | -9,913 |
Other expense (income), net | 24,336 | 15,831 | -24,343 | -48,564 |
Interest expense | -1,098 | -309 | -3,006 | -1,115 |
Income (loss) from continuing operations before taxes | -23,238 | -15,522 | 27,349 | 49,679 |
(Loss) income from continuing operations | -23,238 | -15,522 | 27,349 | 49,679 |
Net (loss) income | -23,238 | -15,522 | 27,349 | 49,679 |
Net income (loss) attributable to noncontrolling interest | 2,623 | 1,099 | 1,105 | 580 |
Net (loss) income attributable to member of Summit Materials, LLC | ($25,861) | ($16,621) | $26,244 | $49,099 |
Senior_Notes_Guarantor_and_Non4
Senior Notes' Guarantor and Non Guarantor Financial Information - Schedule of Condensed Consolidating Statements of Cash Flows (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | $123 | ($11,855) |
Cash flow from investing activities: | ' | ' |
Acquisitions, net of cash acquired | -60,913 | -42,933 |
Purchase of property, plant and equipment | -53,659 | -36,812 |
Proceeds from the sale of property, plant, and equipment | 8,642 | 4,244 |
Other | ' | 69 |
Net cash used for investing activities | -105,930 | -75,432 |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | 214,390 | 248,300 |
Payments on long-term debt | -111,884 | -177,892 |
Payments on acquisition-related liabilities | -4,923 | -4,067 |
Other | ' | -701 |
Net cash provided by financing activities | 97,583 | 65,640 |
Net increase (decrease) in cash | -8,224 | -21,647 |
Cash - beginning of period | 27,431 | 42,790 |
Cash - end of period | 19,207 | 21,143 |
Summit Materials LLC (Parent) [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | 925 | 5,581 |
Cash flow from investing activities: | ' | ' |
Purchase of property, plant and equipment | -2,120 | -51 |
Net cash used for investing activities | -2,120 | -51 |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | 214,390 | 248,297 |
Loans received from and payments made on loans from other Summit Companies | -100,401 | -79,174 |
Payments on long-term debt | -111,884 | -177,892 |
Other | ' | -656 |
Net cash provided by financing activities | 2,105 | -9,425 |
Net increase (decrease) in cash | 910 | -3,895 |
Cash - beginning of period | 697 | 6,701 |
Cash - end of period | 1,607 | 2,806 |
Non-Wholly-Owned Guarantor [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | -3,662 | 4,037 |
Cash flow from investing activities: | ' | ' |
Purchase of property, plant and equipment | -20,265 | -9,607 |
Proceeds from the sale of property, plant, and equipment | ' | 66 |
Net cash used for investing activities | -20,265 | -9,541 |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | ' | 6,983 |
Loans received from and payments made on loans from other Summit Companies | 23,539 | 6,460 |
Payments on long-term debt | ' | -5,783 |
Net cash provided by financing activities | 23,539 | 7,660 |
Net increase (decrease) in cash | -388 | 2,156 |
Cash - beginning of period | 397 | 8 |
Cash - end of period | 9 | 2,164 |
Wholly-Owned Guarantors [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | -5,118 | -27,762 |
Cash flow from investing activities: | ' | ' |
Acquisitions, net of cash acquired | -60,913 | -42,933 |
Purchase of property, plant and equipment | -30,184 | -26,837 |
Proceeds from the sale of property, plant, and equipment | 8,592 | 4,053 |
Other | ' | 69 |
Net cash used for investing activities | -82,505 | -65,648 |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | ' | 63,482 |
Loans received from and payments made on loans from other Summit Companies | 84,360 | 66,853 |
Payments on long-term debt | ' | -51,933 |
Payments on acquisition-related liabilities | -4,923 | -4,067 |
Net cash provided by financing activities | 79,437 | 74,335 |
Net increase (decrease) in cash | -8,186 | -19,075 |
Cash - beginning of period | 30,981 | 33,997 |
Cash - end of period | 22,795 | 14,922 |
Non-Guarantors [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Net cash provided by (used in) operating activities | 7,978 | 6,289 |
Cash flow from investing activities: | ' | ' |
Purchase of property, plant and equipment | -1,090 | -317 |
Proceeds from the sale of property, plant, and equipment | 50 | 125 |
Net cash used for investing activities | -1,040 | -192 |
Cash flow from financing activities: | ' | ' |
Loans received from and payments made on loans from other Summit Companies | -6,540 | -6,648 |
Other | ' | -282 |
Net cash provided by financing activities | -6,540 | -6,930 |
Net increase (decrease) in cash | 398 | -833 |
Cash - beginning of period | 680 | 2,084 |
Cash - end of period | 1,078 | 1,251 |
Eliminations [Member] | ' | ' |
Cash flow from financing activities: | ' | ' |
Net proceeds from debt issuance | ' | -70,462 |
Loans received from and payments made on loans from other Summit Companies | -958 | 12,509 |
Payments on long-term debt | ' | 57,716 |
Other | ' | 237 |
Net cash provided by financing activities | -958 | ' |
Net increase (decrease) in cash | -958 | ' |
Cash - beginning of period | -5,324 | ' |
Cash - end of period | ($6,282) | ' |