Senior Notes' Guarantor and Non-Guarantor Financial Information | 6 Months Ended |
Jun. 28, 2014 |
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 | | | | | | | | | | | | | | | | | | | | | | | |
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Summit Materials’ wholly-owned subsidiary companies other than Finance Corp. (“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, including a subsidiary of Continental Cement, do not guarantee the Senior Notes (collectively, the “Non-Guarantors”). Summit Materials (“Parent”) and Finance Corp. (collectively, the “Issuers”) were co-issuers of the Senior Notes. The Guarantors provide a joint and several, full and unconditional guarantee of the Senior Notes. There are no significant restrictions on Summit Materials ability to obtain funds from any of the Guarantor Subsidiaries in the form of dividends or loans. Additionally, there are no significant restrictions on a Guarantor Subsidiary’s ability to obtain funds from Summit Materials or its direct or indirect subsidiaries. |
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The following condensed consolidating balance sheets, statements of operations and cash flows are provided for the Issuers, the Non-Wholly-owned Guarantor, the Wholly-owned Guarantors and the Non-Guarantors. 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. |
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Condensed Consolidating Balance Sheets |
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June 28, 2014 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
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Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash | | $ | 21,685 | | | $ | 7 | | | $ | 2,681 | | | $ | 4,723 | | | $ | (8,294 | ) | | $ | 20,802 | |
Accounts receivable, net | | | — | | | | 12,338 | | | | 128,876 | | | | 4,922 | | | | (2,368 | ) | | | 143,768 | |
Intercompany receivables | | | 264,955 | | | | — | | | | 33,532 | | | | — | | | | (298,487 | ) | | | — | |
Cost and estimated earnings in excess of billings | | | — | | | | — | | | | 21,018 | | | | 761 | | | | — | | | | 21,779 | |
Inventories | | | — | | | | 14,569 | | | | 102,293 | | | | 2,309 | | | | — | | | | 119,171 | |
Other current assets | | | 2,791 | | | | 722 | | | | 9,645 | | | | 375 | | | | (298 | ) | | | 13,235 | |
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Total current assets | | | 289,431 | | | | 27,636 | | | | 298,045 | | | | 13,090 | | | | (309,447 | ) | | | 318,755 | |
Property, plant and equipment, net | | | 5,755 | | | | 305,274 | | | | 602,744 | | | | 6,740 | | | | — | | | | 920,513 | |
Goodwill | | | — | | | | 23,124 | | | | 293,227 | | | | 972 | | | | — | | | | 317,323 | |
Intangible assets, net | | | — | | | | 592 | | | | 14,683 | | | | — | | | | — | | | | 15,275 | |
Other assets | | | 499,692 | | | | 20,378 | | | | 63,234 | | | | 1,235 | | | | (538,765 | ) | | | 45,774 | |
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Total assets | | $ | 794,878 | | | $ | 377,004 | | | $ | 1,271,933 | | | $ | 22,037 | | | $ | (848,212 | ) | | $ | 1,617,640 | |
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Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | | | | | | | | | | | | | | | | | | | | | | | | |
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Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Current portion of debt | | $ | 69,220 | | | $ | 1,018 | | | $ | 3,192 | | | $ | — | | | $ | (4,210 | ) | | $ | 69,220 | |
Current portion of acquisition-related liabilities | | | 1,141 | | | | — | | | | 17,898 | | | | — | | | | — | | | | 19,039 | |
Accounts payable | | | 4,517 | | | | 7,978 | | | | 64,426 | | | | 3,691 | | | | (2,368 | ) | | | 78,244 | |
Accrued expenses | | | 25,566 | | | | 7,691 | | | | 62,068 | | | | 1,180 | | | | (8,592 | ) | | | 87,913 | |
Intercompany payables | | | 101,411 | | | | 21,810 | | | | 174,376 | | | | 890 | | | | (298,487 | ) | | | — | |
Billings in excess of costs and estimated earnings | | | — | | | | — | | | | 4,877 | | | | 25 | | | | — | | | | 4,902 | |
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Total current liabilities | | | 201,855 | | | | 38,497 | | | | 326,837 | | | | 5,786 | | | | (313,657 | ) | | | 259,318 | |
Long-term debt | | | 938,290 | | | | 154,081 | | | | 482,993 | | | | — | | | | (637,074 | ) | | | 938,290 | |
Acquisition-related liabilities | | | — | | | | — | | | | 40,947 | | | | — | | | | — | | | | 40,947 | |
Other noncurrent liabilities | | | 879 | | | | 17,570 | | | | 64,966 | | | | — | | | | — | | | | 83,415 | |
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Total liabilities | | | 1,141,024 | | | | 210,148 | | | | 915,743 | | | | 5,786 | | | | (950,731 | ) | | | 1,321,970 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | 26,825 | | | | 26,825 | |
Redeemable members’ interest | | | — | | | | 23,750 | | | | — | | | | — | | | | (23,750 | ) | | | — | |
Total member’s interest | | | (346,146 | ) | | | 143,106 | | | | 356,190 | | | | 16,251 | | | | 99,444 | | | | 268,845 | |
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Total liabilities, redeemable noncontrolling interest and member’s interest | | $ | 794,878 | | | $ | 377,004 | | | $ | 1,271,933 | | | $ | 22,037 | | | $ | (848,212 | ) | | $ | 1,617,640 | |
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Condensed Consolidating Balance Sheets |
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December 28, 2013 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
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Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash | | $ | 10,375 | | | $ | 9 | | | $ | 3,442 | | | $ | 3,631 | | | $ | (2,540 | ) | | $ | 14,917 | |
Accounts receivable, net | | | — | | | | 4,587 | | | | 93,102 | | | | 3,100 | | | | (1,452 | ) | | | 99,337 | |
Intercompany receivables | | | 38,134 | | | | 3,433 | | | | 30,787 | | | | — | | | | (72,354 | ) | | | — | |
Cost and estimated earnings in excess of billings | | | — | | | | — | | | | 10,539 | | | | 228 | | | | — | | | | 10,767 | |
Inventories | | | — | | | | 10,402 | | | | 85,372 | | | | 658 | | | | — | | | | 96,432 | |
Other current assets | | | 750 | | | | 444 | | | | 11,715 | | | | 272 | | | | — | | | | 13,181 | |
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Total current assets | | | 49,259 | | | | 18,875 | | | | 234,957 | | | | 7,889 | | | | (76,346 | ) | | | 234,634 | |
Property, plant and equipment, net | | | 3,969 | | | | 301,908 | | | | 518,935 | | | | 6,966 | | | | — | | | | 831,778 | |
Goodwill | | | — | | | | 23,124 | | | | 102,942 | | | | 972 | | | | — | | | | 127,038 | |
Intangible assets, net | | | — | | | | 642 | | | | 14,505 | | | | — | | | | — | | | | 15,147 | |
Other assets | | | 296,494 | | | | 17,973 | | | | 37,535 | | | | 1,303 | | | | (314,108 | ) | | | 39,197 | |
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Total assets | | $ | 349,722 | | | $ | 362,522 | | | $ | 908,874 | | | $ | 17,130 | | | $ | (390,454 | ) | | $ | 1,247,794 | |
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Liabilities, Redeemable Noncontrolling Interest and Member’s Interest | | | | | | | | | | | | | | | | | | | | | | | | |
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Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Current portion of debt | | $ | 26,010 | | | $ | 1,018 | | | $ | 3,192 | | | $ | — | | | $ | — | | | $ | 30,220 | |
Current portion of acquisition-related liabilities | | | 2,000 | | | | — | | | | 8,635 | | | | — | | | | — | | | | 10,635 | |
Accounts payable | | | 5,455 | | | | 9,387 | | | | 57,142 | | | | 1,572 | | | | (1,452 | ) | | | 72,104 | |
Accrued expenses | | | 12,041 | | | | 9,185 | | | | 37,342 | | | | 1,223 | | | | (2,540 | ) | | | 57,251 | |
Intercompany payables | | | — | | | | — | | | | 71,556 | | | | 798 | | | | (72,354 | ) | | | — | |
Billings in excess of costs and estimated earnings | | | — | | | | — | | | | 8,837 | | | | 426 | | | | — | | | | 9,263 | |
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Total current liabilities | | | 45,506 | | | | 19,590 | | | | 186,704 | | | | 4,019 | | | | (76,346 | ) | | | 179,473 | |
Long-term debt | | | 19,587 | | | | 154,590 | | | | 484,590 | | | | — | | | | — | | | | 658,767 | |
Acquisition-related liabilities | | | 85 | | | | — | | | | 23,671 | | | | — | | | | — | | | | 23,756 | |
Other noncurrent liabilities | | | 959 | | | | 20,306 | | | | 56,215 | | | | — | | | | — | | | | 77,480 | |
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Total liabilities | | | 66,137 | | | | 194,486 | | | | 751,180 | | | | 4,019 | | | | (76,346 | ) | | | 939,476 | |
Redeemable noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | 24,767 | | | | 24,767 | |
Redeemable members’ interest | | | — | | | | 23,450 | | | | — | | | | — | | | | (23,450 | ) | | | — | |
Total member’s interest | | | 283,585 | | | | 144,586 | | | | 157,694 | | | | 13,111 | | | | (315,425 | ) | | | 283,551 | |
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Total liabilities, redeemable noncontrolling interest and member’s interest | | $ | 349,722 | | | $ | 362,522 | | | $ | 908,874 | | | $ | 17,130 | | | $ | (390,454 | ) | | $ | 1,247,794 | |
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Condensed Consolidating Statements of Operations |
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For the three months ended June 28, 2014 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Revenue | | $ | — | | | $ | 27,557 | | | $ | 287,307 | | | $ | 14,942 | | | $ | (5,511 | ) | | $ | 324,295 | |
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Cost of revenue (excluding items shown separately below) | | | — | | | | 16,724 | | | | 210,693 | | | | 9,856 | | | | (5,511 | ) | | | 231,762 | |
General and administrative expenses | | | 10,002 | | | | 1,900 | | | | 25,080 | | | | 290 | | | | — | | | | 37,272 | |
Depreciation, depletion, amortization and accretion | | | 338 | | | | 3,703 | | | | 17,020 | | | | 278 | | | | — | | | | 21,339 | |
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Operating (loss) income | | | (10,340 | ) | | | 5,230 | | | | 34,514 | | | | 4,518 | | | | — | | | | 33,922 | |
Other (income) expense, net | | | (29,100 | ) | | | (1,261 | ) | | | (1,360 | ) | | | (3 | ) | | | 31,027 | | | | (697 | ) |
Interest expense | | | 7,932 | | | | 3,011 | | | | 12,643 | | | | 31 | | | | (1,966 | ) | | | 21,651 | |
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Income from continuing operations before taxes | | | 10,828 | | | | 3,480 | | | | 23,231 | | | | 4,490 | | | | (29,061 | ) | | | 12,968 | |
Income tax benefit (expense) | | | (1,427 | ) | | | — | | | | 563 | | | | — | | | | — | | | | (864 | ) |
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Income from continuing operations | | | 12,255 | | | | 3,480 | | | | 22,668 | | | | 4,490 | | | | (29,061 | ) | | | 13,832 | |
Income from discontinued operations | | | — | | | | — | | | | (369 | ) | | | — | | | | — | | | | (369 | ) |
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Net income | | | 12,255 | | | | 3,480 | | | | 23,037 | | | | 4,490 | | | | (29,061 | ) | | | 14,201 | |
Net income attributable to minority interest | | | — | | | | — | | | | — | | | | — | | | | 1,946 | | | | 1,946 | |
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Net income attributable to member of Summit Materials, LLC | | $ | 12,255 | | | $ | 3,480 | | | $ | 23,037 | | | $ | 4,490 | | | $ | (31,007 | ) | | $ | 12,255 | |
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Comprehensive income attributable to member of Summit Materials, LLC | | $ | 12,255 | | | $ | 3,480 | | | $ | 23,037 | | | $ | 4,490 | | | $ | (31,007 | ) | | $ | 12,255 | |
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Condensed Consolidating Statements of Operations |
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For the three months ended June 29, 2013 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Revenue | | $ | — | | | $ | 22,888 | | | $ | 221,141 | | | $ | 14,559 | | | $ | (3,746 | ) | | $ | 254,842 | |
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Cost of revenue (excluding items shown separately below) | | | — | | | | 13,328 | | | | 162,633 | | | | 9,628 | | | | (3,746 | ) | | | 181,843 | |
General and administrative expenses | | | 1,244 | | | | 1,695 | | | | 37,121 | | | | 314 | | | | — | | | | 40,374 | |
Depreciation, depletion, amortization and accretion | | | 22 | | | | 2,868 | | | | 15,743 | | | | 261 | | | | — | | | | 18,894 | |
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Operating (loss) income | | | (1,266 | ) | | | 4,997 | | | | 5,644 | | | | 4,356 | | | | — | | | | 13,731 | |
Other expense (income), net | | | 403 | | | | (1,240 | ) | | | (1,632 | ) | | | 47 | | | | 2,153 | | | | (269 | ) |
Interest expense | | | — | | | | 2,692 | | | | 12,825 | | | | 114 | | | | (1,149 | ) | | | 14,482 | |
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(Loss) income from continuing operations before taxes | | | (1,669 | ) | | | 3,545 | | | | (5,549 | ) | | | 4,195 | | | | (1,004 | ) | | | (482 | ) |
Income tax benefit | | | — | | | | — | | | | (726 | ) | | | — | | | | — | | | | (726 | ) |
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(Loss) income from continuing operations | | | (1,669 | ) | | | 3,545 | | | | (4,823 | ) | | | 4,195 | | | | (1,004 | ) | | | 244 | |
Income from discontinued operations | | | — | | | | — | | | | (26 | ) | | | — | | | | — | | | | (26 | ) |
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Net (loss) income | | | (1,669 | ) | | | 3,545 | | | | (4,797 | ) | | | 4,195 | | | | (1,004 | ) | | | 270 | |
Net income attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | 1,939 | | | | 1,939 | |
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Net (loss) income attributable to member of Summit Materials, LLC | | $ | (1,669 | ) | | $ | 3,545 | | | $ | (4,797 | ) | | $ | 4,195 | | | $ | (2,943 | ) | | $ | (1,669 | ) |
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Condensed Consolidating Statements of Operations |
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For the six months ended June 28, 2014 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Revenue | | $ | — | | | $ | 35,264 | | | $ | 427,717 | | | $ | 21,274 | | | $ | (8,869 | ) | | $ | 475,386 | |
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Cost of revenue (excluding items shown separately below) | | | — | | | | 27,626 | | | | 328,318 | | | | 13,362 | | | | (8,869 | ) | | | 360,437 | |
General and administrative expenses | | | 17,690 | | | | 3,574 | | | | 53,521 | | | | 566 | | | | — | | | | 75,351 | |
Depreciation, depletion, amortization and accretion | | | 642 | | | | 6,777 | | | | 32,731 | | | | 545 | | | | — | | | | 40,695 | |
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Operating (loss) income | | | (18,332 | ) | | | (2,713 | ) | | | 13,147 | | | | 6,801 | | | | — | | | | (1,097 | ) |
Other expense (income), net | | | 7,725 | | | | (1,358 | ) | | | (1,553 | ) | | | 45 | | | | (5,750 | ) | | | (891 | ) |
Interest expense | | | 13,668 | | | | 5,857 | | | | 24,415 | | | | 56 | | | | (3,526 | ) | | | 40,470 | |
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(Loss) income from continuing operations before taxes | | | (39,725 | ) | | | (7,212 | ) | | | (9,715 | ) | | | 6,700 | | | | 9,276 | | | | (40,676 | ) |
Income tax benefit | | | (1,427 | ) | | | — | | | | (33 | ) | | | — | | | | — | | | | (1,460 | ) |
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(Loss) income from continuing operations | | | (38,298 | ) | | | (7,212 | ) | | | (9,682 | ) | | | 6,700 | | | | 9,276 | | | | (39,216 | ) |
Income from discontinued operations | | | — | | | | — | | | | (349 | ) | | | — | | | | — | | | | (349 | ) |
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Net (loss) income | | | (38,298 | ) | | | (7,212 | ) | | | (9,333 | ) | | | 6,700 | | | | 9,276 | | | | (38,867 | ) |
Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | (569 | ) | | | (569 | ) |
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Net (loss) income attributable to member of Summit Materials, LLC | | $ | (38,298 | ) | | $ | (7,212 | ) | | $ | (9,333 | ) | | $ | 6,700 | | | $ | 9,845 | | | $ | (38,298 | ) |
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Comprehensive (loss) income attributable to member of Summit Materials, LLC | | $ | (38,298 | ) | | $ | (6,394 | ) | | $ | (9,333 | ) | | $ | 6,700 | | | $ | 9,600 | | | $ | (37,725 | ) |
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Condensed Consolidating Statements of Operations |
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For the six months ended June 29, 2013 |
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| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Revenue | | $ | — | | | $ | 32,799 | | | $ | 314,895 | | | $ | 20,486 | | | $ | (6,509 | ) | | $ | 361,671 | |
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Cost of revenue (excluding items shown separately below) | | | — | | | | 27,833 | | | | 243,357 | | | | 13,235 | | | | (6,509 | ) | | | 277,916 | |
General and administrative expenses | | | 2,896 | | | | 5,083 | | | | 67,296 | | | | 584 | | | | — | | | | 75,859 | |
Depreciation, depletion, amortization and accretion | | | 44 | | | | 5,532 | | | | 29,938 | | | | 512 | | | | — | | | | 36,026 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating (loss) income | | | (2,940 | ) | | | (5,649 | ) | | | (25,696 | ) | | | 6,155 | | | | — | | | | (28,130 | ) |
Other expense (income), net | | | 51,549 | | | | (1,295 | ) | | | 1,529 | | | | 174 | | | | (48,679 | ) | | | 3,278 | |
Interest expense | | | — | | | | 5,423 | | | | 24,095 | | | | 239 | | | | (1,908 | ) | | | 27,849 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations before taxes | | | (54,489 | ) | | | (9,777 | ) | | | (51,320 | ) | | | 5,742 | | | | 50,587 | | | | (59,257 | ) |
Income tax benefit | | | — | | | | — | | | | (3,347 | ) | | | — | | | | — | | | | (3,347 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations | | | (54,489 | ) | | | (9,777 | ) | | | (47,973 | ) | | | 5,742 | | | | 50,587 | | | | (55,910 | ) |
Loss from discontinued operations | | | — | | | | — | | | | 97 | | | | — | | | | — | | | | 97 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | | (54,489 | ) | | | (9,777 | ) | | | (48,070 | ) | | | 5,742 | | | | 50,587 | | | | (56,007 | ) |
Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | — | | | | (1,518 | ) | | | (1,518 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income attributable to member of Summit Materials, LLC | | $ | (54,489 | ) | | $ | (9,777 | ) | | $ | (48,070 | ) | | $ | 5,742 | | | $ | 52,105 | | | $ | (54,489 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Condensed Consolidating Statements of Cash Flows |
|
For the six months ended June 28, 2014 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Net cash (used in) provided by operating activities | | $ | (18,665 | ) | | $ | (13,153 | ) | | $ | (13,412 | ) | | $ | 168 | | | $ | (818 | ) | | $ | (45,880 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Cash flow from investing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Acquisitions, net of cash acquired | | | (181,754 | ) | | | — | | | | (53,116 | ) | | | — | | | | — | | | | (234,870 | ) |
Purchase of property, plant and equipment | | | (2,428 | ) | | | (11,829 | ) | | | (34,666 | ) | | | (337 | ) | | | — | | | | (49,260 | ) |
Proceeds from the sale of property, plant, and equipment | | | — | | | | — | | | | 5,912 | | | | 73 | | | | — | | | | 5,985 | |
Other | | | — | | | | — | | | | (409 | ) | | | — | | | | 1,166 | | | | 757 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used for investing activities | | | (184,182 | ) | | | (11,829 | ) | | | (82,279 | ) | | | (264 | ) | | | 1,166 | | | | (277,388 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Cash flow from financing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from investment by member | | | 24,350 | | | | — | | | | — | | | | 1,166 | | | | (1,166 | ) | | | 24,350 | |
Net proceeds from debt issuance | | | 424,750 | | | | — | | | | — | | | | — | | | | — | | | | 424,750 | |
Loans received from and payments made on loans from other Summit Companies | | | (123,441 | ) | | | 25,234 | | | | 104,121 | | | | 22 | | | | (5,936 | ) | | | — | |
Payments on long-term debt | | | (104,060 | ) | | | (254 | ) | | | (4,932 | ) | | | — | | | | — | | | | (109,246 | ) |
Payments on acquisition-related liabilities | | | (1,000 | ) | | | — | | | | (3,259 | ) | | | — | | | | — | | | | (4,259 | ) |
Financing costs | | | (6,354 | ) | | | — | | | | — | | | | — | | | | — | | | | (6,354 | ) |
Other | | | (88 | ) | | | — | | | | (1,000 | ) | | | — | | | | 1,000 | | | | (88 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) financing activities | | | 214,157 | | | | 24,980 | | | | 94,930 | | | | 1,188 | | | | (6,102 | ) | | | 329,153 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Net increase (decrease) in cash | | | 11,310 | | | | (2 | ) | | | (761 | ) | | | 1,092 | | | | (5,754 | ) | | | 5,885 | |
| | | | | | |
Cash—Beginning of period | | | 10,375 | | | | 9 | | | | 3,442 | | | | 3,631 | | | | (2,540 | ) | | | 14,917 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash—End of period | | $ | 21,685 | | | $ | 7 | | | $ | 2,681 | | | $ | 4,723 | | | $ | (8,294 | ) | | $ | 20,802 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Condensed Consolidating Statements of Cash Flows |
|
For the six months ended June 29, 2013 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Issuers | | | Non-Wholly-owned | | | Wholly- | | | Non- | | | Elim- | | | Consol- | |
Guarantor | owned | Guarantors | inations | idated |
| Guarantors | | | |
Net cash (used in) provided by operating activities | | $ | (28 | ) | | $ | (12,542 | ) | | $ | (39,989 | ) | | $ | 4,799 | | | $ | — | | | $ | (47,760 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Cash flow from investing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Acquisitions, net of cash acquired | | | — | | | | — | | | | (60,779 | ) | | | — | | | | — | | | | (60,779 | ) |
Purchase of property, plant and equipment | | | (766 | ) | | | (15,214 | ) | | | (23,514 | ) | | | (1,034 | ) | | | — | | | | (40,528 | ) |
Proceeds from the sale of property, plant, and equipment | | | — | | | | — | | | | 7,086 | | | | — | | | | — | | | | 7,086 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used for investing activities | | | (766 | ) | | | (15,214 | ) | | | (77,207 | ) | | | (1,034 | ) | | | — | | | | (94,221 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Cash flow from financing activities: | | | | | | | | | | | | | | | | | | | | | | | | |
Net proceeds from debt issuance | | | 189,681 | | | | — | | | | — | | | | — | | | | — | | | | 189,681 | |
Loans received from and payments made on loans from other Summit Companies | | | (124,587 | ) | | | 27,367 | | | | 100,970 | | | | (4,338 | ) | | | 588 | | | | — | |
Payments on long-term debt | | | (61,343 | ) | | | — | | | | — | | | | — | | | | — | | | | (61,343 | ) |
Payments on acquisition-related liabilities | | | — | | | | — | | | | (3,426 | ) | | | — | | | | — | | | | (3,426 | ) |
Financing costs | | | (2,707 | ) | | | — | | | | — | | | | — | | | | — | | | | (2,707 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) financing activities | | | 1,044 | | | | 27,367 | | | | 97,544 | | | | (4,338 | ) | | | 588 | | | | 122,205 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Net (decrease) increase in cash | | | 250 | | | | (389 | ) | | | (19,652 | ) | | | (573 | ) | | | 588 | | | | (19,776 | ) |
| | | | | | |
Cash—Beginning of period | | | 697 | | | | 397 | | | | 30,981 | | | | 680 | | | | (5,324 | ) | | | 27,431 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash—End of period | | $ | 947 | | | $ | 8 | | | $ | 11,329 | | | $ | 107 | | | $ | (4,736 | ) | | $ | 7,655 | |
| | | | | | | | | | | | | | | | | | | | | | | | |