Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 24, 2012

Condensed Consolidating Financial Statements [Abstract]

Schedule of condensed balance sheet

Condensed Consolidating Balance Sheet December 25, 2011 (Unaudited)
	Parent Company		Subsidiary Guarantors on a Combined Basis		Non-Guarantor Subsidiaries 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	446.2		—		—		(446.2		)	—
Inventoried costs	—		64.2		12.4		—			76.6
Prepaid expenses and other current assets	6.7		18.4		4.4		—			29.5
Total current assets	505.5		310.8		50.9		(446.2		)	421.0
Property, plant and equipment, net	1.2		62.2		9.1		—			72.5
Goodwill	—		550.2		21.4		—			571.6
Intangible assets, net	—		119.8		4.8		—			124.6
Investment in subsidiaries	460.1		20.5		—		(480.6		)	—
Amounts due from affiliated companies	—		26.0		—		(26.0		)	—
Other assets	21.7		4.0		0.6		—			26.3
Total assets	$	988.5	$	1,093.5	$	86.8	$	(952.8	)	$	1,216.0
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	8.5	$	37.5	$	2.8	$	—		$	48.8
Accrued expenses	2.3		45.1		3.3		—			50.7
Accrued compensation	3.7		33.3		2.8		—			39.8
Accrued interest	5.1		—		—		—			5.1
Billings in excess of costs and earnings on uncompleted contracts	—		34.3		1.9		—			36.2
Amounts due to affiliated companies	—		414.5		31.7		(446.2		)	—
Other current liabilities	0.8		30.2		2.2		—			33.2
Total current liabilities	20.4		594.9		44.7		(446.2		)	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	7.7		26.3		2.0		—			36.0
Total liabilities	675.9		621.2		78.5		(472.2		)	903.4
Total stockholders' equity	312.6		472.3		8.3		(480.6		)	312.6
Total liabilities and stockholders' equity	$	988.5	$	1,093.5	$	86.8	$	(952.8	)	$	1,216.0

Condensed Consolidating Balance Sheet June 24, 2012 (Unaudited)
	Parent Company		Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	126.7	$	(0.3	)	$	19.3	$	—		$	145.7
Restricted cash	0.5		0.3			—		—			0.8
Accounts receivable, net	—		235.7			21.1		—			256.8
Amounts due from affiliated companies	426.6		—			—		(426.6		)	—
Inventoried costs	—		70.7			15.7		—			86.4
Prepaid expenses and other current assets	8.2		18.3			4.9		—			31.4
Total current assets	562.0		324.7			61.0		(426.6		)	521.1
Property, plant and equipment, net	1.1		61.7			9.6		—			72.4
Goodwill	—		554.0			21.4		—			575.4
Intangible assets, net	—		103.7			3.5		—			107.2
Investment in subsidiaries	476.7		23.5			—		(500.2		)	—
Amounts due from affiliated companies, long-term	—		26.0			—		(26.0		)	—
Other assets	20.0		2.5			0.5		—			23.0
Total assets	$	1,059.8	$	1,096.1		$	96.0	$	(952.8	)	$	1,299.1
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	9.6	$	47.3		$	5.0	$	—		$	61.9
Accrued expenses	1.7		53.6			2.7		—			58.0
Accrued compensation	2.4		28.6			2.8		—			33.8
Billings in excess of costs and earnings on uncompleted contracts	—		32.0			5.1		—			37.1
Amounts due to affiliated companies	—		392.1			34.5		(426.6		)	—
Other current liabilities	3.7		25.3			3.1		—			32.1
Total current liabilities	17.4		578.9			53.2		(426.6		)	222.9
Long-term debt, net of current portion	645.7		—			5.3		—			651.0
Amounts due to affiliated companies	—		—			26.0		(26.0		)	—
Other long-term liabilities	5.2		28.4			0.1		—			33.7
Total liabilities	668.3		607.3			84.6		(452.6		)	907.6
Total stockholders' equity	391.5		488.8			11.4		(500.2		)	391.5
Total liabilities and stockholders' equity	$	1,059.8	$	1,096.1		$	96.0	$	(952.8	)	$	1,299.1

Schedule of condensed statement of operations and comprehensive income

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 26, 2011 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	75.3		$	—		$	—		$	75.3
Product sales	—			84.0			15.5			(3.7		)	95.8
Total revenues	—			159.3			15.5			(3.7		)	171.1
Cost of service revenues	—			58.0			—			—			58.0
Cost of product sales	—			61.6			9.8			(3.7		)	67.7
Total costs	—			119.6			9.8			(3.7		)	125.7
Gross profit	—			39.7			5.7			—			45.4
Selling, general and administrative expenses	3.0			28.2			4.3			—			35.5
Research and development expenses	—			1.0			0.2			—			1.2
Operating income (loss) from continuing operations	(3.0		)	10.5			1.2			—			8.7
Other income (expense):
Interest expense, net	(13.0		)	—			(0.1		)	—			(13.1		)
Other income, net	—			0.1			(0.1		)	—			—
Total other income and expense, net	(13.0		)	0.1			(0.2		)	—			(13.1		)
Income (loss) from continuing operations before income taxes	(16.0		)	10.6			1.0			—			(4.4		)
Provision for income taxes from continuing operations	—			(0.8		)	(0.1		)	—			(0.9		)
Income (loss) from continuing operations	(16.0		)	9.8			0.9			—			(5.3		)
Income from discontinued operations	—			—			0.1			—			0.1
Equity in net income (loss) of subsidiaries	10.8			1.0			—			(11.8		)	—
Net income (loss)	$	(5.2	)	$	10.8		$	1.0		$	(11.8	)	$	(5.2	)
Comprehensive income (loss)	$	(5.2	)	$	10.6		$	0.9		$	(11.5	)	$	(5.2	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 26, 2011 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	155.1		$	—		$	—		$	155.1
Product sales	—			127.0			15.5			(3.7		)	138.8
Total revenues	—			282.1			15.5			(3.7		)	293.9
Cost of service revenues	—			118.3			—			—			118.3
Cost of product sales	—			96.7			9.8			(3.7		)	102.8
Total costs	—			215.0			9.8			(3.7		)	221.1
Gross profit	—			67.1			5.7			—			72.8
Selling, general and administrative expenses	9.7			46.9			4.3			—			60.9
Research and development expenses	—			1.6			0.2			—			1.8
Operating income (loss) from continuing operations	(9.7		)	18.6			1.2			—			10.1
Other income (expense):
Interest expense, net	(19.6		)	(0.1		)	(0.1		)	—			(19.8		)
Other income, net	0.3			0.1			(0.1		)	—			0.3
Total other income and expense, net	(19.3		)	—			(0.2		)	—			(19.5		)
Income (loss) from continuing operations before income taxes	(29.0		)	18.6			1.0			—			(9.4		)
Benefit (provision) for income taxes from continuing operations	—			0.5			(0.2		)	—			0.3
Income (loss) from continuing operations	(29.0		)	19.1			0.8			—			(9.1		)
Income from discontinued operations	—			—			0.4			—			0.4
Equity in net income (loss) of subsidiaries	20.3			1.1			—			(21.4		)	—
Net income (loss)	$	(8.7	)	$	20.2		$	1.2		$	(21.4	)	$	(8.7	)
Comprehensive income (loss)	$	(8.7	)	$	20.2		$	1.2		$	(21.4	)	$	(8.7	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 24, 2012 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations			Consolidated
Service revenues	—			111.5			0.6			—			112.1
Product sales	—			96.6			14.7			(3.6		)	107.7
Total revenues	—			208.1			15.3			(3.6		)	219.8
Cost of service revenues	—			86.2			0.5			—			86.7
Cost of product sales	—			69.2			9.8			(3.6		)	75.4
Total costs	—			155.4			10.3			(3.6		)	162.1
Gross profit	—			52.7			5.0			—			57.7
Selling, general and administrative expenses	2.6			40.0			2.9			—			45.5
Research and development expenses	—			4.6			0.2			—			4.8
Operating income (loss) from continuing operations	(2.6		)	8.1			1.9			—			7.4
Other income (expense):
Interest expense, net	(16.1		)	0.1			(0.2		)	—			(16.2		)
Other income, net	—			0.2			0.3			—			0.5
Total other income and expense, net	(16.1		)	0.3			0.1			—			(15.7		)
Income (loss) from continuing operations before income taxes	(18.7		)	8.4			2.0			—			(8.3		)
Provision for income taxes from continuing operations	—			(5.7		)	(0.9		)	—			(6.6		)
Income (loss) from continuing operations	(18.7		)	2.7			1.1			—			(14.9		)
Income (loss) from discontinued operations	—			(2.2		)	(0.1		)	—			(2.3		)
Equity in net income (loss) of subsidiaries	1.5			1.0			—			(2.5		)	—
Net income (loss)	$	(17.2	)	$	1.5		$	1.0		$	(2.5	)	$	(17.2	)
Comprehensive income (loss)	$	(17.6	)	$	1.7		$	1.1		$	(2.6	)	$	(17.4	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 24, 2012 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations			Consolidated
Service revenues	—			213.0			1.2			—			214.2
Product sales	—			192.6			29.0			(6.5		)	215.1
Total revenues	—			405.6			30.2			(6.5		)	429.3
Cost of service revenues	—			165.7			0.8			—			166.5
Cost of product sales	—			134.9			19.3			(6.5		)	147.7
Total costs	—			300.6			20.1			(6.5		)	314.2
Gross profit	—			105.0			10.1			—			115.1
Selling, general and administrative expenses	4.8			78.9			6.5			—			90.2
Research and development expenses	—			7.9			0.5			—			8.4
Operating income (loss) from continuing operations	(4.8		)	18.2			3.1			—			16.5
Other income (expense):
Interest expense, net	(32.1		)	0.1			(0.3		)	—			(32.3		)
Other income, net	0.3			0.1			0.5			—			0.9
Total other income and expense, net	(31.8		)	0.2			0.2			—			(31.4		)
Income (loss) from continuing operations before income taxes	(36.6		)	18.4			3.3			—			(14.9		)
Provision for income taxes from continuing operations	—			(2.3		)	(0.2		)	—			(2.5		)
Income (loss) from continuing operations	(36.6		)	16.1			3.1			—			(17.4		)
Income (loss) from discontinued operations	—			(2.8		)	—			—			(2.8		)
Equity in net income (loss) of subsidiaries	16.4			3.0			—			(19.4		)	—
Net income (loss)	$	(20.2	)	$	16.3		$	3.1		$	(19.4	)	$	(20.2	)
Comprehensive income (loss)	$	(20.6	)	$	16.3		$	3.2		$	(19.3	)	$	(20.4	)

Schedule of condensed cash flow statement

Condensed Consolidating Statement of Cash Flows Six Months Ended June 26, 2011 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(45.8	)	$	37.4		$	(1.7	)	$	—	$	(10.1	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	(271.0		)	12.5			9.3			—		(249.2		)
Decrease in restricted cash	0.3			0.9			—			—		1.2
Capital expenditures	(0.1		)	(1.6		)	(1.0		)	—		(2.7		)
Net cash provided by (used in) investing activities from continuing operations	(270.8		)	11.8			8.3			—		(250.7		)
Financing activities:
Proceeds from the issuance of long-term debt	305.0			—			—			—		305.0
Proceeds from the issuance of common stock	61.1			—			—			—		61.1
Debt issuance costs	(14.6		)	—			—			—		(14.6		)
Repayment of debt	—			(1.9		)	(0.3		)	—		(2.2		)
Cash paid for contingent acquisition consideration	—			—			—			—		—
Financing from affiliated companies	25.0			(27.4		)	2.4			—		—
Other, net	1.4			(0.4		)	—			—		1.0
Net cash provided by (used in) financing activities from continuing operations	377.9			(29.7		)	2.1			—		350.3
Net cash flows of continuing operations	61.3			19.5			8.7			—		89.5
Net operating cash flows from discontinued operations	—			0.1			—			—		0.1
Effect of exchange rate changes on cash and cash equivalents	—			—			—			—		—
Net increase in cash and cash equivalents	$	61.3		$	19.6		$	8.7		$	—	$	89.6

Condensed Consolidating Statement of Cash Flows Six Months Ended June 24, 2012 (Unaudited)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantor Subsidiaries on a Combined Basis			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(40.5	)	$	43.2		$	7.1		$	—	$	9.8
Investing activities:
Cash paid for acquisitions, net of cash acquired	(21.5		)	—			—			—		(21.5		)
Decrease in restricted cash	(0.4		)	0.7			—			—		0.3
Capital expenditures	—			(5.1		)	(1.1		)	—		(6.2		)
Net cash used in investing activities from continuing operations	(21.9		)	(4.4		)	(1.1		)	—		(27.4		)
Financing activities:
Proceeds from the issuance of common stock for cash, net of issuance costs	97.0			—			—			—		97.0
Cash paid for contingent acquisition consideration	(2.5		)	—			—			—		(2.5		)
Debt issuance costs	(1.0		)	—			—			—		(1.0		)
Repayment of debt	—			—			(0.5		)	—		(0.5		)
Financings from affiliated companies	43.0			(43.0		)	—			—		—
Other	—			(0.3		)	—			—		(0.3		)
Net cash provided by (used in) financing activities from continuing operations	136.5			(43.3		)	(0.5		)	—		92.7
Net cash flows of continuing operations	74.1			(4.5		)	5.5			—		75.1
Net operating cash flows from discontinued operations	—			1.3			—			—		1.3
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.3		)	$	—	(0.3		)
Net increase (decrease) in cash and cash equivalents	$	74.1		$	(3.2	)	$	5.2		$	—	$	76.1