Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2012

Condensed Consolidating Financial Statements [Abstract]

Schedule of Condensed Balance Sheet

Condensed Consolidating Balance Sheet December 25, 2011 (Unaudited)
	Parent Company		Guarantors on a Combined Basis		Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	52.6	$	2.8	$	14.2	$	—		$	69.6
Accounts receivable, net	—		225.4		19.9		—			245.3
Amounts due from affiliated companies	449.3		—		—		(449.3		)	—
Inventoried costs	—		64.2		12.4		—			76.6
Other current assets	3.3		22.1		4.1		—			29.5
Total current assets	505.2		314.5		50.6		(449.3		)	421.0
Property, plant and equipment, net	1.2		62.2		9.1		—			72.5
Goodwill	—		551.1		20.5		—			571.6
Intangible assets, net	—		119.8		4.8		—			124.6
Investment in subsidiaries	466.0		8.8		—		(474.8		)	—
Amounts due from affiliated companies	—		26.0		—		(26.0		)	—
Other assets	21.5		4.0		0.8		—			26.3
Total assets	$	993.9	$	1,086.4	$	85.8	$	(950.1	)	$	1,216.0
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	8.5	$	37.5	$	2.8	$	—		$	48.8
Accrued expenses	2.4		50.4		3.0		—			55.8
Accrued compensation	3.7		33.3		2.8		—			39.8
Billings in excess of costs and earnings on uncompleted contracts	—		34.3		1.9		—			36.2
Amounts due to affiliated companies	—		418.9		30.4		(449.3		)	—
Other current liabilities	13.5		17.4		2.3		—			33.2
Total current liabilities	28.1		591.8		43.2		(449.3		)	213.8
Long-term debt, net of current portion	647.8		—		5.8		—			653.6
Amounts due to affiliated companies	—		—		26.0		(26.0		)	—
Other long-term liabilities	5.4		28.6		2.0		—			36.0
Total liabilities	681.3		620.4		77.0		(475.3		)	903.4
Total stockholders' equity	312.6		466.0		8.8		(474.8		)	312.6
Total liabilities and stockholders' equity	$	993.9	$	1,086.4	$	85.8	$	(950.1	)	$	1,216.0

Condensed Consolidating Balance Sheet September 30, 2012 (Unaudited)
	Parent Company		Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	20.9	$	(1.3	)	$	18.0	$	—		$	37.6
Accounts receivable, net	—		262.7			18.7		—			281.4
Amounts due from affiliated companies	509.9		—			—		(509.9		)	—
Inventoried costs	—		82.1			17.8		—			99.9
Other current assets	10.9		23.5			3.3		—			37.7
Total current assets	541.7		367.0			57.8		(509.9		)	456.6
Amounts due from affiliated companies, long-term	—		26.0			—		(26.0		)	—
Property, plant and equipment, net	1.3		73.9			9.4		—			84.6
Goodwill	—		658.0			20.5		—			678.5
Intangible assets, net	—		129.1			3.1		—			132.2
Investment in subsidiaries	542.2		14.6			—		(556.8		)	—
Other assets	18.5		1.7			0.8		—			21.0
Total assets	$	1,103.7	$	1,270.3		$	91.6	$	(1,092.7	)	$	1,372.9
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	5.0	$	70.0		$	6.0	$	—		$	81.0
Accrued expenses	$	3.0	$	67.8		$	2.6	$	—		$	73.4
Accrued compensation	3.8		36.0			2.1		—			41.9
Billings in excess of costs and earnings on uncompleted contracts	—		40.0			4.0		—			44.0
Amounts due to affiliated companies	—		480.7			29.2		(509.9		)	—
Other current liabilities	32.5		1.3			—		—			33.8
Total current liabilities	44.3		695.8			43.9		(509.9		)	274.1
Long-term debt, net of current portion	644.7		—			5.0		—			649.7
Amounts due to affiliated companies	—		—			26.0		(26.0		)	—
Other long-term liabilities	2.1		32.3			2.1		—			36.5
Total liabilities	691.1		728.1			77.0		(535.9		)	960.3
Total stockholders' equity	412.6		542.2			14.6		(556.8		)	412.6
Total liabilities and stockholders' equity	$	1,103.7	$	1,270.3		$	91.6	$	(1,092.7	)	$	1,372.9

Schedule of Condensed Statement of Operations and Comprehensive Income

Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 25, 2011 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	92.4		$	0.8		$	—		$	93.2
Product sales	—			101.4			15.7			(3.7		)	113.4
Total revenues	—			193.8			16.5			(3.7		)	206.6
Cost of service revenues	—			68.0			0.6			—			68.6
Cost of product sales	—			72.4			10.3			(3.7		)	79.0
Total costs	—			140.4			10.9			(3.7		)	147.6
Gross profit	—			53.4			5.6			—			59.0
Selling, general and administrative expenses	4.7			36.7			4.7			—			46.1
Research and development expenses	—			3.0			0.2			—			3.2
Operating income from continuing operations	(4.7		)	13.7			0.7			—			9.7
Other income (expense):
Interest expense, net	15.0			(0.3		)	0.3			—			15.0
Other income, net	—			(0.1		)	0.4			—			0.3
Total other income and expense, net	15.0			(0.4		)	0.7			—			15.3
Income (loss) from continuing operations before income taxes	(19.7		)	14.1			—			—			(5.6		)
Provision for income taxes from continuing operations	—			1.3			0.3			—			1.6
Income (loss) from continuing operations	(19.7		)	12.8			(0.3		)	—			(7.2		)
Income from discontinued operations	—			0.3			—			—			0.3
Equity in net income (loss) of subsidiaries	12.8			(0.3		)	—			(12.5		)	—
Net income (loss)	$	(6.9	)	$	12.8		$	(0.3	)	$	(12.5	)	$	(6.9	)
Comprehensive income (loss)	$	(6.9	)	$	12.8		$	(0.2	)	$	(12.5	)	$	(6.8	)

Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 25, 2011 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	247.5		$	0.8	$	—		$	248.3
Product sales	—			228.4			31.2		(7.4		)	252.2
Total revenues	—			475.9			32.0		(7.4		)	500.5
Cost of service revenues	—			186.3			0.6		—			186.9
Cost of product sales	—			169.1			20.1		(7.4		)	181.8
Total costs	—			355.4			20.7		(7.4		)	368.7
Gross profit	—			120.5			11.3		—			131.8
Selling, general and administrative expenses	14.4			83.2			9.4		—			107.0
Research and development expenses	—			4.6			0.4		—			5.0
Operating income from continuing operations	(14.4		)	32.7			1.5		—			19.8
Other income (expense):
Interest expense, net	34.6			(0.2		)	0.4		—			34.8
Other income, net	(0.3		)	(0.2		)	0.5		—			—
Total other income and expense, net	34.3			(0.4		)	0.9		—			34.8
Income (loss) from continuing operations before income taxes	(48.7		)	33.1			0.6		—			(15.0		)
Provision for income taxes from continuing operations	—			0.9			0.4		—			1.3
Income (loss) from continuing operations	(48.7		)	32.2			0.2		—			(16.3		)
Income from discontinued operations	—			0.4			0.3		—			0.7
Equity in net income (loss) of subsidiaries	33.1			0.5			—		(33.6		)	—
Net income (loss)	$	(15.6	)	$	33.1		$	0.5	$	(33.6	)	$	(15.6	)
Comprehensive income (loss)	$	(15.6	)	$	33.1		$	0.6	$	(33.6	)	$	(15.5	)

Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2012 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	124.9		$	0.7		$	—		$	125.6
Product sales	—			136.8			17.0			(3.1		)	150.7
Total revenues	—			261.7			17.7			(3.1		)	276.3
Cost of service revenues	—			97.8			0.5			—			98.3
Cost of product sales	—			96.1			10.9			(3.1		)	103.9
Total costs	—			193.9			11.4			(3.1		)	202.2
Gross profit	—			67.8			6.3			—			74.1
Selling, general and administrative expenses	4.5			47.2			3.8			—			55.5
Research and development expenses	—			4.3			0.2			—			4.5
Operating income from continuing operations	(4.5		)	16.3			2.3			—			14.1
Other income (expense):
Interest expense, net	17.6			(0.1		)	0.1			—			17.6
Other income, net	—			0.1			(0.5		)	—			(0.4		)
Total other income and expense, net	17.6			—			(0.4		)	—			17.2
Income (loss) from continuing operations before income taxes	(22.1		)	16.3			2.7			—			(3.1		)
Provision for income taxes from continuing operations	—			0.9			0.4			—			1.3
Income (loss) from continuing operations	(22.1		)	15.4			2.3			—			(4.4		)
Income (loss) from discontinued operations	—			(0.5		)	0.7			—			0.2
Equity in net income (loss) of subsidiaries	17.9			3.0			—			(20.9		)	—
Net income (loss)	$	(4.2	)	$	17.9		$	3.0		$	(20.9	)	$	(4.2	)
Comprehensive income (loss)	$	(4.2	)	$	17.9		$	3.2		$	(20.9	)	$	(4.0	)

Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2012 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	337.9		$	1.9		$	—		$	339.8
Product sales	—			329.4			46.0			(9.6		)	365.8
Total revenues	—			667.3			47.9			(9.6		)	705.6
Cost of service revenues	—			263.5			1.3			—			264.8
Cost of product sales	—			231.0			30.2			(9.6		)	251.6
Total costs	—			494.5			31.5			(9.6		)	516.4
Gross profit	—			172.8			16.4			—			189.2
Selling, general and administrative expenses	9.3			126.1			10.3			—			145.7
Research and development expenses	—			12.2			0.7			—			12.9
Operating income from continuing operations	(9.3		)	34.5			5.4			—			30.6
Other income (expense):
Interest expense, net	49.7			(0.2		)	0.4			—			49.9
Other income, net	(0.3		)	—			(1.0		)	—			(1.3		)
Total other income and expense, net	49.4			(0.2		)	(0.6		)	—			48.6
Income (loss) from continuing operations before income taxes	(58.7		)	34.7			6.0			—			(18.0		)
Provision for income taxes from continuing operations	—			3.1			0.7						3.8
Income (loss) from continuing operations	(58.7		)	31.6			5.3			—			(21.8		)
Income (loss) from discontinued operations	—			(3.3		)	0.7			—			(2.6		)
Equity in net income (loss) of subsidiaries	34.3			6.0			—			(40.3		)	—
Net income (loss)	$	(24.4	)	$	34.3		$	6.0		$	(40.3	)	$	(24.4	)
Comprehensive income (loss)	$	(24.4	)	$	34.3		$	6.4		$	(40.3	)	$	(24.0	)

Schedule of Condensed Cash Flow Statement

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 25, 2011 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(17.1	)	$	29.1		$	0.6		$	—	$	12.6
Investing activities:
Cash paid for acquisitions, net of cash acquired	(373.8		)	—			—			—		(373.8		)
Decrease in restricted cash	1.3			2.0			—			—		3.3
Capital expenditures	(0.2		)	(3.7		)	(1.4		)	—		(5.3		)
Net cash used in investing activities from continuing operations	(372.7		)	(1.7		)	(1.4		)	—		(375.8		)
Financing activities:
Proceeds from the issuance of long-term debt	427.5			—			—			—		427.5
Proceeds from the issuance of common stock	61.1						—			—		61.1
Debt issuance costs	(20.6		)				—			—		(20.6		)
Repayment of debt	—			(2.0		)	(0.5		)	—		(2.5		)
Financing from affiliated companies	(27.0		)	24.9			2.1			—		—
Other, net	2.0			(0.5		)	—			—		1.5
Net cash provided by financing activities from continuing operations	443.0			22.4			1.6			—		467.0
Net cash flows of continuing operations	53.2			49.8			0.8			—		103.8
Net operating cash flows from discontinued operations	—			(5.3		)	—			—		(5.3		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.2		)	—		(0.2		)
Net increase in cash and cash equivalents	$	53.2		$	44.5		$	0.6		$	—	$	98.3

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2012 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(32.5	)	$	61.6		$	6.0		$	—	$	35.1
Investing activities:
Cash paid for acquisitions, net of cash acquired	(149.4		)	—			—			—		(149.4		)
Decrease in restricted cash	(0.4		)	0.9			—			—		0.5
Capital expenditures	(0.4		)	(10.1		)	(1.5		)	—		(12.0		)
Net cash used in investing activities from continuing operations	(150.2		)	(9.2		)	(1.5		)	—		(160.9		)
Financing activities:
Proceeds from the issuance of common stock	97.0			—			—			—		97.0
Debt issuance costs	(1.2		)	—			—			—		(1.2		)
Borrowing under the line of credit	40.0			—			—			—		40.0
Repayment of debt	(40.0		)	—			(0.8		)	—		(40.8		)
Cash paid for contingent acquisition consideration	—			(2.5		)	—			—		(2.5		)
Financings from affiliated companies	55.7			(55.7		)	—			—		—
Other, net	(0.5		)	(0.4		)	—			—		(0.9		)
Net cash provided by (used in) financing activities from continuing operations	151.0			(58.6		)	(0.8		)	—		91.6
Net cash flows of continuing operations	(31.7		)	(6.2		)	3.7			—		(34.2		)
Net operating cash flows from discontinued operations	—			2.1			—			—		2.1
Effect of exchange rate changes on cash and cash equivalents	—			—			0.1					0.1
Net increase (decrease) in cash and cash equivalents	$	(31.7	)	$	(4.1	)	$	3.8		$	—	$	(32.0	)