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Condensed Consolidating Financial Statements
3 Months Ended
Mar. 31, 2013
Condensed Consolidating Financial Statements [Abstract]  
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements

The Company has $625.0 million in outstanding Senior Secured Notes (see Note 9). The Notes are guaranteed by all of the Company's 100% owned domestic subsidiaries (the "Subsidiary Guarantors") and are collateralized by the assets of all of the Company's 100% owned subsidiaries. The Notes are fully and unconditionally guaranteed on a joint and several basis by each guarantor subsidiary and the Company. There are no contractual restrictions limiting cash transfers from guarantor subsidiaries by dividends, loans or advances to the Company. The Senior Secured Notes are not guaranteed by the Company's foreign subsidiaries (the “Non-Guarantor Subsidiaries”).

The following tables present condensed consolidating financial statements for the parent company, the Subsidiary Guarantors and the Non-Guarantor Subsidiaries, respectively. The condensed consolidating financial information below follows the same accounting policies as described in the consolidated financial statements, except for the use of the equity method of accounting to reflect ownership interests in wholly owned subsidiaries, which are eliminated upon consolidation.

Condensed Consolidating Balance Sheet
December 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
$
37.8

 
$
(4.0
)
 
$
15.2

 
$

 
$
49.0

  Accounts receivable, net

 
253.5

 
18.4

 

 
271.9

  Amounts due from affiliated companies
480.2

 

 

 
(480.2
)
 

  Inventoried costs

 
75.4

 
18.9

 

 
94.3

  Other current assets
9.1

 
28.0

 
3.1

 

 
40.2

    Total current assets
527.1

 
352.9

 
55.6

 
(480.2
)
 
455.4

Property, plant and equipment, net
1.3

 
74.7

 
9.6

 

 
85.6

Goodwill

 
574.7

 
21.7

 

 
596.4

Intangible assets, net

 
103.4

 
2.7

 

 
106.1

Investment in subsidiaries
439.8

 
28.8

 

 
(468.6
)
 

Amounts due from affiliated companies

 
24.0

 

 
(24.0
)
 

Other assets
17.6

 
22.4

 
0.4

 

 
40.4

    Total assets
$
985.8

 
$
1,180.9

 
$
90.0

 
$
(972.8
)
 
$
1,283.9

Liabilities and Stockholders' Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
  Accounts payable
$
2.8

 
$
75.2

 
$
5.6

 
$

 
$
83.6

  Accrued expenses
7.0

 
42.3

 
3.4

 

 
52.7

  Accrued compensation
2.9

 
41.8

 
3.1

 

 
47.8

Billings in excess of costs and earnings on uncompleted contracts

 
40.5

 
3.2

 

 
43.7

Deferred income tax liability

 
28.9

 

 

 
28.9

  Amounts due to affiliated companies

 
455.1

 
25.1

 
(480.2
)
 

  Other current liabilities
1.1

 
19.1

 
1.9

 

 
22.1

    Total current liabilities
13.8

 
702.9

 
42.3

 
(480.2
)
 
278.8

Long-term debt, net of current portion
643.6

 

 
4.8

 

 
648.4

Amounts due to affiliated companies

 

 
24.0

 
(24.0
)
 

Other long-term liabilities
4.3

 
26.2

 
2.1

 

 
32.6

    Total liabilities
661.7

 
729.1

 
73.2

 
(504.2
)
 
959.8

 Total stockholders' equity
324.1

 
451.8

 
16.8

 
(468.6
)
 
324.1

    Total liabilities and stockholders' equity
$
985.8

 
$
1,180.9

 
$
90.0

 
$
(972.8
)
 
$
1,283.9



Condensed Consolidating Balance Sheet
March 31, 2013
(Unaudited)
 
Parent Company
 
Guarantors on a Combined Basis
 
Non-Guarantors on a Combined Basis
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
  Cash and cash equivalents
$
34.3

 
$
(1.9
)
 
$
19.2

 
$

 
$
51.6

  Accounts receivable, net

 
264.7

 
17.1

 

 
281.8

  Amounts due from affiliated companies
482.7

 

 

 
(482.7
)
 

  Inventoried costs

 
70.7

 
17.5

 

 
88.2

  Other current assets
8.8

 
21.6

 
3.1

 

 
33.5

    Total current assets
525.8

 
355.1

 
56.9

 
(482.7
)
 
455.1

Amounts due from affiliated companies, long-term

 
24.0

 

 
(24.0
)
 

Property, plant and equipment, net
1.3

 
73.0

 
9.7

 

 
84.0

Goodwill

 
574.7

 
21.7

 

 
596.4

Intangible assets, net

 
94.5

 
2.3

 

 
96.8

Investment in subsidiaries
448.5

 
30.1

 

 
(478.6
)
 

Other assets
16.4

 
21.5

 
0.4

 

 
38.3

    Total assets
$
992.0

 
$
1,172.9

 
$
91.0

 
$
(985.3
)
 
$
1,270.6

Liabilities and Stockholders' Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
1.9

 
$
66.5

 
$
3.2

 
$

 
$
71.6

Accrued expenses
22.6

 
38.1

 
2.7

 

 
63.4

 Accrued compensation
3.8

 
36.6

 
3.0

 

 
43.4

Billings in excess of costs and earnings on uncompleted contracts

 
42.3

 
6.1

 

 
48.4

Deferred income tax liability

 
29.0

 

 

 
29.0

Amounts due to affiliated companies

 
457.3

 
25.4

 
(482.7
)
 

Other current liabilities
1.1

 
16.8

 
1.9

 

 
19.8

    Total current liabilities
29.4

 
686.6

 
42.3

 
(482.7
)
 
275.6

Long-term debt, net of current portion
642.7

 

 
4.5

 

 
647.2

Amounts due to affiliated companies

 

 
24.0

 
(24.0
)
 

Other long-term liabilities
4.3

 
25.8

 
2.1

 

 
32.2

    Total liabilities
676.4

 
712.4

 
72.9

 
(506.7
)
 
955.0

Total stockholders' equity
315.6

 
460.5

 
18.1

 
(478.6
)
 
315.6

    Total liabilities and stockholders' equity
$
992.0

 
$
1,172.9

 
$
91.0

 
$
(985.3
)
 
$
1,270.6


Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended March 25, 2012
(Unaudited)
 
Parent Company
 
Guarantors on a Combined Basis
 
Non-Guarantors on a Combined Basis
 
Eliminations
 
Consolidated
Service revenues
$

 
$
101.5

 
$
0.6

 
$

 
$
102.1

Product sales

 
96.0

 
14.3

 
(2.9
)
 
107.4

  Total revenues

 
197.5

 
14.9

 
(2.9
)
 
209.5

Cost of service revenues

 
79.5

 
0.3

 

 
79.8

Cost of product sales

 
65.3

 
9.5

 
(2.9
)
 
71.9

  Total costs

 
144.8

 
9.8

 
(2.9
)
 
151.7

  Gross profit

 
52.7

 
5.1

 

 
57.8

Selling, general and administrative expenses
2.2

 
39.3

 
3.6

 

 
45.1

Research and development expenses

 
3.3

 
0.3

 

 
3.6

  Operating income from continuing operations
(2.2
)
 
10.1

 
1.2

 

 
9.1

Other income (expense):
 
 
 
 
 
 
 
 
 
  Interest expense, net
(16.0
)
 

 
(0.1
)
 

 
(16.1
)
  Other income (expense), net
0.3

 
(0.1
)
 
0.2

 

 
0.4

  Total other income and expense, net
(15.7
)
 
(0.1
)
 
0.1

 

 
(15.7
)
Income (loss) from continuing operations before income taxes
(17.9
)
 
10.0

 
1.3

 

 
(6.6
)
Benefit for income taxes from continuing operations

 
3.4

 
0.7

 

 
4.1

Income (loss) from continuing operations
(17.9
)
 
13.4

 
2.0

 

 
(2.5
)
Income (loss) from discontinued operations

 
(0.6
)
 
0.1

 

 
(0.5
)
Equity in net income (loss) of subsidiaries
14.9

 
2.1

 

 
(17.0
)
 

Net income (loss)
$
(3.0
)
 
$
14.9

 
$
2.1

 
$
(17.0
)
 
$
(3.0
)
Comprehensive income (loss)
$
(3.0
)
 
$
14.9

 
$
2.1

 
$
(17.0
)
 
$
(3.0
)
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended March 31, 2013
(Unaudited)
 
Parent Company
 
Guarantors on a Combined Basis
 
Non-Guarantors on a Combined Basis
 
Eliminations
 
Consolidated
Service revenues
$

 
$
115.5

 
$

 
$

 
$
115.5

Product sales

 
123.3

 
18.8

 
(4.8
)
 
137.3

  Total revenues

 
238.8

 
18.8

 
(4.8
)
 
252.8

Cost of service revenues

 
88.2

 

 

 
88.2

Cost of product sales

 
90.7

 
13.0

 
(4.8
)
 
98.9

  Total costs

 
178.9

 
13.0

 
(4.8
)
 
187.1

  Gross profit

 
59.9

 
5.8

 

 
65.7

Selling, general and administrative expenses
2.6

 
43.8

 
2.9

 

 
49.3

Research and development expenses

 
4.5

 
0.4

 

 
4.9

Operating income from continuing operations
(2.6
)
 
11.6

 
2.5

 

 
11.5

Other income expense:
 
 
 
 
 
 
 
 
 
  Interest expense, net
(16.1
)
 

 
(0.1
)
 

 
(16.2
)
  Other expense, net

 

 
(0.7
)
 

 
(0.7
)
  Total other expense, net
(16.1
)
 

 
(0.8
)
 

 
(16.9
)
Income (loss) from continuing operations before income taxes
(18.7
)
 
11.6

 
1.7

 

 
(5.4
)
Provision for income taxes from continuing operations
0.3

 
2.4

 
0.1

 

 
2.8

Income (loss) from continuing operations
(19.0
)
 
9.2

 
1.6

 

 
(8.2
)
Loss from discontinued operations

 
(1.8
)
 
(0.3
)
 

 
(2.1
)
Equity in net income (loss) of subsidiaries
8.7

 
1.3

 

 
(10.0
)
 

Net income (loss)
$
(10.3
)
 
$
8.7

 
$
1.3

 
$
(10.0
)
 
$
(10.3
)
Comprehensive income (loss)
$
(10.2
)
 
$
8.7

 
$
1.2

 
$
(9.9
)
 
$
(10.2
)
Condensed Consolidating Statement of Cash Flows
Three Months Ended March 25, 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
$
(6.2
)
 
$
26.3

 
$
4.9

 
$

 
$
25.0

Investing activities:
 
 
 
 
 
 
 
 
 
Cash paid for acquisitions, net of cash acquired
(21.5
)
 

 

 

 
(21.5
)
(Increase) decrease in restricted cash
(0.3
)
 
0.7

 

 

 
0.4

Capital expenditures

 
(2.4
)
 
(0.3
)
 

 
(2.7
)
Net cash used in investing activities from continuing operations
(21.8
)
 
(1.7
)
 
(0.3
)
 

 
(23.8
)
Financing activities:
 
 
 
 
 
 
 
 
 
Repayment of debt

 

 
(0.3
)
 

 
(0.3
)
Financing from affiliated companies
30.9

 
(30.9
)
 

 

 

Other, net

 
(0.1
)
 

 

 
(0.1
)
Net cash provided by (used in) financing activities from continuing operations
30.9

 
(31.0
)
 
(0.3
)
 

 
(0.4
)
Net cash flows of continuing operations
2.9

 
(6.4
)
 
4.3

 

 
0.8

Net operating cash flows from discontinued operations

 
3.7

 
0.2

 

 
3.9

Effect of exchange rate changes on cash and cash equivalents

 

 
(0.1
)
 

 
(0.1
)
Net increase in cash and cash equivalents
$
2.9

 
$
(2.7
)
 
$
4.4

 
$

 
$
4.6

Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2013
(Unaudited)
 
Parent Company
 
Guarantors on a Combined Basis
 
Non-Guarantors on a Combined Basis
 
Eliminations
 
Consolidated
Net cash provided by (used in) operating activities
$
(0.8
)
 
$
0.8

 
$
5.1

 
$

 
$
5.1

Investing activities:
 
 
 
 
 
 
 
 
 
  Cash paid for acquisitions, net of cash acquired

 
1.2

 

 

 
1.2

  Decrease in restricted cash

 
0.2

 

 

 
0.2

  Capital expenditures
(0.1
)
 
(2.7
)
 
(0.5
)
 

 
(3.3
)
Net cash used in investing activities from continuing operations
(0.1
)
 
(1.3
)
 
(0.5
)
 

 
(1.9
)
Financing activities:
 
 
 
 
 
 
 
 
 
  Repayment of debt

 

 
(0.3
)
 

 
(0.3
)
  Financings from affiliated companies
(2.4
)
 
2.4

 

 

 

  Other, net
(0.2
)
 

 

 

 
(0.2
)
Net cash provided by (used in) financing activities from continuing operations
(2.6
)
 
2.4

 
(0.3
)
 

 
(0.5
)
Net cash flows of continuing operations
(3.5
)
 
1.9

 
4.3

 

 
2.7

Net operating cash flows from discontinued operations

 
0.2

 

 

 
0.2

Effect of exchange rate changes on cash and cash equivalents

 

 
(0.3
)
 

 
(0.3
)
Net increase (decrease) in cash and cash equivalents
$
(3.5
)
 
$
2.1

 
$
4.0

 
$

 
$
2.6