Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 29, 2013

Condensed Consolidating Financial Statements [Abstract]

Schedule of Condensed Balance Sheet

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 September 29, 2013 (Unaudited)
	Parent Company		Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	34.2	$	(3.4	)	$	19.0	$	—		$	49.8
Accounts receivable, net	—		248.6			20.4		—			269.0
Amounts due from affiliated companies	450.8		—			—		(450.8		)	—
Inventoried costs	—		67.8			15.6		—			83.4
Other current assets	9.5		14.7			2.9		—			27.1
Total current assets	494.5		327.7			57.9		(450.8		)	429.3
Amounts due from affiliated companies, long-term	—		24.0			—		(24.0		)	—
Property, plant and equipment, net	1.9		72.3			10.3		—			84.5
Goodwill	—		574.7			21.7		—			596.4
Intangible assets, net	—		77.1			1.7		—			78.8
Investment in subsidiaries	463.9		33.1			—		(497.0		)	—
Other assets	13.8		21.7			0.2		—			35.7
Total assets	$	974.1	$	1,130.6		$	91.8	$	(971.8	)	$	1,224.7
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.0	$	51.0		$	3.7	$	—		$	57.7
Accrued expenses	22.8		40.9			3.7		—			67.4
Accrued compensation	2.2		31.2			3.7		—			37.1
Billings in excess of costs and earnings on uncompleted contracts	—		44.7			6.5		—			51.2
Deferred income tax liability	—		29.0			—		—			29.0
Amounts due to affiliated companies	—		428.9			21.9		(450.8		)	—
Other current liabilities	1.3		11.5			1.0		—			13.8
Total current liabilities	29.3		637.2			40.5		(450.8		)	256.2
Long-term debt, net of current portion	640.6		—			4.0		—			644.6
Amounts due to affiliated companies	—		—			24.0		(24.0		)	—
Other long-term liabilities	2.5		17.5			2.2		—			22.2
Total liabilities	672.4		654.7			70.7		(474.8		)	923.0
Total stockholders' equity	301.7		475.9			21.1		(497.0		)	301.7
Total liabilities and stockholders' equity	$	974.1	$	1,130.6		$	91.8	$	(971.8	)	$	1,224.7

Schedule of Condensed Statement of Operations and Comprehensive Income

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) 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 (loss) 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 (expense), 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)	$	(4.4	)	$	17.9		$	2.8		$	(20.7	)	$	(4.4	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended September 29, 2013 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	107.6		$	1.2		$	—		$	108.8
Product sales	—			103.9			17.5			(3.8		)	117.6
Total revenues	—			211.5			18.7			(3.8		)	226.4
Cost of service revenues	—			81.7			0.7			—			82.4
Cost of product sales	—			82.2			13.3			(3.8		)	91.7
Total costs	—			163.9			14.0			(3.8		)	174.1
Gross profit	—			47.6			4.7			—			52.3
Selling, general and administrative expenses	1.4			36.2			3.8			—			41.4
Research and development expenses	—			4.7			0.1			—			4.8
Operating income (loss) from continuing operations	(1.4		)	6.7			0.8			—			6.1
Other income (expense):
Interest expense, net	(16.2		)	0.1			(0.1		)	—			(16.2		)
Other income (expense), net	—			0.2			0.6			—			0.8
Total other income and expense, net	(16.2		)	0.3			0.5			—			(15.4		)
Income (loss) from continuing operations before income taxes	(17.6		)	7.0			1.3			—			(9.3		)
Provision (benefit) for income taxes from continuing operations	—			(0.1		)	0.3			—			0.2
Income (loss) from continuing operations	(17.6		)	7.1			1.0			—			(9.5		)
Income (loss) from discontinued operations	—			(0.4		)	—			—			(0.4		)
Equity in net income (loss) of subsidiaries	7.7			1.0			—			(8.7		)	—
Net income (loss)	$	(9.9	)	$	7.7		$	1.0		$	(8.7	)	$	(9.9	)
Comprehensive income (loss)	$	(10.0	)	$	7.7		$	0.9		$	(8.6	)	$	(10.0	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) 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 (loss) 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 expense, net	(0.3		)	—			(1.0		)	—			(1.3		)
Total other 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		)
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)	$	(24.8	)	$	34.3		$	5.6		$	(39.9	)	$	(24.8	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine Months Ended September 29, 2013 (Unaudited)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	332.4		$	2.6		$	—		$	335.0
Product sales	—			338.1			55.1			(13.3		)	379.9
Total revenues	—			670.5			57.7			(13.3		)	714.9
Cost of service revenues	—			252.5			1.8			—			254.3
Cost of product sales	—			255.7			39.7			(13.3		)	282.1
Total costs	—			508.2			41.5			(13.3		)	536.4
Gross profit	—			162.3			16.2			—			178.5
Selling, general and administrative expenses	5.1			122.4			10.1			—			137.6
Research and development expenses	—			13.7			0.8			—			14.5
Operating (loss) income from continuing operations	(5.1		)	26.2			5.3			—			26.4
Other income expense:
Interest expense, net	(48.4		)	0.1			(0.4		)	—			(48.7		)
Other expense, net	—			0.3			(0.1		)	—			0.2
Total other expense, net	(48.4		)	0.4			(0.5		)	—			(48.5		)
Income (loss) from continuing operations before income taxes	(53.5		)	26.6			4.8			—			(22.1		)
Provision for income taxes from continuing operations	0.5			1.9			0.5			—			2.9
Income (loss) from continuing operations	(54.0		)	24.7			4.3			—			(25.0		)
Loss from discontinued operations	0.1			(4.9		)	—			—			(4.8		)
Equity in net income (loss) of subsidiaries	24.1			4.3			—			(28.4		)	—
Net income (loss)	$	(29.8	)	$	24.1		$	4.3		$	(28.4	)	$	(29.8	)
Comprehensive income (loss)	$	(29.8	)	$	24.1		$	4.3		$	(28.4	)	$	(29.8	)

Schedule of Condensed Cash Flow Statement

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		)
(Increase) 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 for cash, net of issuance costs	97.0			—			—			—		97.0
Cash paid for contingent acquisition consideration	—			(2.5		)	—			—		(2.5		)
Debt issuance costs	(1.2		)	—			—			—		(1.2		)
Borrowings under line of credit	40.0											40.0
Repayment of debt	(40.0		)	—			(0.8		)	—		(40.8		)
Financing 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	)

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 29, 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	$	(33.4	)	$	40.7		$	3.7		$	—	$	11.0
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			2.2			—			—		2.2
Decrease in restricted cash	—			0.5			—			—		0.5
Other, net	—			0.4			—			—		0.4
Capital expenditures	(1.0		)	(9.3		)	(1.9		)	—		(12.2		)
Net cash used in investing activities from continuing operations	(1.0		)	(6.2		)	(1.9		)	—		(9.1		)
Financing activities:
Repayment of debt	—			—			(0.8		)	—		(0.8		)
Cash paid for contingent acquisition consideration	—			(2.1		)	—			—		(2.1		)
Financings from affiliated companies	29.6			(32.4		)	2.8			—		—
Other, net	1.2			—			—			—		1.2
Net cash provided by (used in) financing activities from continuing operations	30.8			(34.5		)	2.0			—		(1.7		)
Net cash flows of continuing operations	(3.6		)	—			3.8			—		0.2
Net operating cash flows from discontinued operations	—			0.5			—			—		0.5
Effect of exchange rate changes on cash and cash equivalents	—			—			0.1			—		0.1
Net increase (decrease) in cash and cash equivalents	$	(3.6	)	$	0.5		$	3.9		$	—	$	0.8