Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 29, 2014

Condensed Consolidating Financial Statements [Abstract]

Schedule of Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet December 29, 2013 (Unaudited) (in millions)
	Parent Company		Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	42.7	$	(3.0	)	$	16.0		$	—		$	55.7
Accounts receivable, net	—		238.6			27.2			—			265.8
Amounts due from affiliated companies	410.2		—			—			(410.2		)	—
Inventoried costs	—		59.1			15.5			—			74.6
Other current assets	10.7		19.4			4.1			—			34.2
Total current assets	463.6		314.1			62.8			(410.2		)	430.3
Property, plant and equipment, net	2.1		71.9			10.8			—			84.8
Goodwill	—		574.8			21.6			—			596.4
Intangible assets, net	—		68.5			1.4			—			69.9
Investment in subsidiaries	474.2		36.7			—			(510.9		)	—
Amounts due from affiliated companies	—		24.0			—			(24.0		)	—
Other assets	12.9		23.0			(0.7		)	—			35.2
Total assets	$	952.8	$	1,113.0		$	95.9		$	(945.1	)	$	1,216.6
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	2.8	$	54.1		$	5.0		$	—		$	61.9
Accrued expenses	6.6		40.9			3.9			—			51.4
Accrued compensation	4.0		36.9			4.0			—			44.9
Billings in excess of costs and earnings on uncompleted contracts	—		45.4			7.1			—			52.5
Deferred income tax liability	—		28.4			—			—			28.4
Amounts due to affiliated companies	—		390.2			20.0			(410.2		)	—
Other current liabilities	1.3		9.5			1.1			—			11.9
Total current liabilities	14.7		605.4			41.1			(410.2		)	251.0
Long-term debt, net of current portion	639.5					3.8			—			643.3
Amounts due to affiliated companies	—		—			24.0			(24.0		)	—
Other long-term liabilities	2.8		21.4			2.3			—			26.5
Total liabilities	657.0		626.8			71.2			(434.2		)	920.8
Total stockholders' equity	295.8		486.2			24.7			(510.9		)	295.8
Total liabilities and stockholders' equity	$	952.8	$	1,113.0		$	95.9		$	(945.1	)	$	1,216.6

Condensed Consolidating Balance Sheet June 29, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	22.1		$	(5.3	)	$	10.1	$	—		$	26.9
Accounts receivable, net	—			237.1			28.8		—			265.9
Amounts due from affiliated companies	389.5			—			—		(389.5		)	—
Inventoried costs	—			59.8			18.7		—			78.5
Other current assets	6.5			16.1			4.6		—			27.2
Total current assets	418.1			307.7			62.2		(389.5		)	398.5
Amounts due from affiliated companies, long-term	—			24.0			—		(24.0		)	—
Property, plant and equipment, net	2.2			71.2			10.8		—			84.2
Goodwill	—			572.4			24.0		—			596.4
Intangible assets, net	—			61.9			0.7		—			62.6
Investment in subsidiaries	487.8			39.0			—		(526.8		)	—
Other assets	8.1			22.2			0.1		—			30.4
Total assets	$	916.2		$	1,098.4		$	97.8	$	(940.3	)	$	1,172.1
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.4		$	61.4		$	5.3	$	—		$	70.1
Accrued expenses	7.7			35.6			3.2		—			46.5
Accrued compensation	4.3			30.8			3.6		—			38.7
Billings in excess of costs and earnings on uncompleted contracts	—			41.9			7.3		—			49.2
Deferred income tax liability	(0.8		)	29.2			—		—			28.4
Amounts due to affiliated companies	—			368.8			20.7		(389.5		)	—
Other current liabilities	2.1			10.8			1.1		—			14.0
Total current liabilities	16.7			578.5			41.2		(389.5		)	246.9
Long-term debt, net of current portion	659.6			—			3.3		—			662.9
Amounts due to affiliated companies	—			—			24.0		(24.0		)	—
Other long-term liabilities	2.8			20.1			2.3		—			25.2
Total liabilities	679.1			598.6			70.8		(413.5		)	935.0
Total stockholders' equity	237.1			499.8			27.0		(526.8		)	237.1
Total liabilities and stockholders' equity	$	916.2		$	1,098.4		$	97.8	$	(940.3	)	$	1,172.1

Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2013 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	109.3		$	0.9		$	—		$	110.2
Product sales	—			110.9			18.8			(4.7		)	125.0
Total revenues	—			220.2			19.7			(4.7		)	235.2
Cost of service revenues	—			82.6			0.7			—			83.3
Cost of product sales	—			82.8			13.4			(4.7		)	91.5
Total costs	—			165.4			14.1			(4.7		)	174.8
Gross profit	—			54.8			5.6			—			60.4
Selling, general and administrative expenses	1.1			42.4			3.2			—			46.7
Research and development expenses	—			4.5			0.3			—			4.8
Operating income (loss) from continuing operations	(1.1		)	7.9			2.1			—			8.9
Other income (expense):
Interest expense, net	(16.1		)	—			(0.2		)	—			(16.3		)
Other income (expense), net	—			0.1			0.1			—			0.2
Total other income and expense, net	(16.1		)	0.1			(0.1		)	—			(16.1		)
Income (loss) from continuing operations before income taxes	(17.2		)	8.0			2.0			—			(7.2		)
Provision (benefit) for income taxes from continuing operations	0.2			(0.4		)	0.1			—			(0.1		)
Income (loss) from continuing operations	(17.4		)	8.4			1.9			—			(7.1		)
Income (loss) from discontinued operations	0.1			(2.7		)	0.1			—			(2.5		)
Equity in net income (loss) of subsidiaries	7.7			2.0			—			(9.7		)	—
Net income (loss)	$	(9.6	)	$	7.7		$	2.0		$	(9.7	)	$	(9.6	)
Comprehensive income (loss)	$	(9.6	)	$	7.7		$	2.0		$	(9.7	)	$	(9.6	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 29, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	99.9		$	1.9		$	—		$	101.8
Product sales	—			114.7			15.1			(2.3		)	127.5
Total revenues	—			214.6			17.0			(2.3		)	229.3
Cost of service revenues	—			76.3			1.6			—			77.9
Cost of product sales	—			86.6			10.7			(2.3		)	95.0
Total costs	—			162.9			12.3			(2.3		)	172.9
Gross profit	—			51.7			4.7			—			56.4
Selling, general and administrative expenses	4.0			38.5			3.3			—			45.8
Research and development expenses	—			5.6			0.3			—			5.9
Operating income (loss) from continuing operations	(4.0		)	7.6			1.1			—			4.7
Other income (expense):
Interest expense, net	(13.9		)	0.1			(0.2		)	—			(14.0		)
Loss on extinguishment of debt	(39.1		)	—			—			—			(39.1		)
Other income (expense), net	0.1			(0.1		)	0.2			—			0.2
Total other income and expense, net	(52.9		)	—			—			—			(52.9		)
Income (loss) from continuing operations before income taxes	(56.9		)	7.6			1.1			—			(48.2		)
Provision (benefit) for income taxes from continuing operations	0.2			1.1			0.3			—			1.6
Income (loss) from continuing operations	(57.1		)	6.5			0.8			—			(49.8		)
Income (loss) from discontinued operations	—			(0.1		)	—			—			(0.1		)
Equity in net income (loss) of subsidiaries	7.2			0.8			—			(8.0		)	—
Net income (loss)	$	(49.9	)	$	7.2		$	0.8		$	(8.0	)	$	(49.9	)
Comprehensive income (loss)	$	(49.9	)	$	7.2		$	0.8		$	(8.0	)	$	(49.9	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2013 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	224.8		$	1.4		$	—		$	226.2
Product sales	—			234.2			37.6			(9.5		)	262.3
Total revenues	—			459.0			39.0			(9.5		)	488.5
Cost of service revenues	—			170.8			1.1			—			171.9
Cost of product sales	—			173.5			26.4			(9.5		)	190.4
Total costs	—			344.3			27.5			(9.5		)	362.3
Gross profit	—			114.7			11.5			—			126.2
Selling, general and administrative expenses	3.7			86.2			6.3			—			96.2
Research and development expenses	—			9.0			0.7			—			9.7
Operating income (loss)from continuing operations	(3.7		)	19.5			4.5			—			20.3
Other income (expense):
Interest expense, net	(32.2		)	—			(0.3		)	—			(32.5		)
Other income (expense), net	—			0.1			(0.7		)	—			(0.6		)
Total other expense, net	(32.2		)	0.1			(1.0		)	—			(33.1		)
Income (loss) from continuing operations before income taxes	(35.9		)	19.6			3.5			—			(12.8		)
Provision for income taxes from continuing operations	0.5			2.0			0.2			—			2.7
Income (loss) from continuing operations	(36.4		)	17.6			3.3			—			(15.5		)
Income (loss) from discontinued operations	0.1			(4.5		)	—			—			(4.4		)
Equity in net income (loss) of subsidiaries	16.4			3.3			—			(19.7		)	—
Net income (loss)	$	(19.9	)	$	16.4		$	3.3		$	(19.7	)	$	(19.9	)
Comprehensive income (loss)	$	(19.8	)	$	16.4		$	3.2		$	(19.6	)	$	(19.8	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 29, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	198.2		$	4.2		$	—		$	202.4
Product sales	—			201.0			31.7			(5.7		)	227.0
Total revenues	—			399.2			35.9			(5.7		)	429.4
Cost of service revenues	—			148.7			3.3			—			152.0
Cost of product sales	—			151.5			22.6			(5.7		)	168.4
Total costs	—			300.2			25.9			(5.7		)	320.4
Gross profit	—			99.0			10.0			—			109.0
Selling, general and administrative expenses	9.0			74.3			6.6			—			89.9
Research and development expenses	—			10.3			0.8			—			11.1
Operating income from continuing operations	(9.0		)	14.4			2.6			—			8.0
Other income (expense):
Interest expense, net	(29.9		)	0.1			(0.3		)	—			(30.1		)
Loss on extinguishment of debt	(39.1		)	—			—			—			(39.1		)
Other income (expense), net	—			—			0.4			—			0.4
Total other expense, net	(69.0		)	0.1			0.1			—			(68.8		)
Income (loss) from continuing operations before income taxes	(78.0		)	14.5			2.7			—			(60.8		)
Provision (benefit) for income taxes from continuing operations	0.5			3.0			0.4			—			3.9
Income (loss) from continuing operations	(78.5		)	11.5			2.3			—			(64.7		)
Income (loss) from discontinued operations	—			(0.2		)	—			—			(0.2		)
Equity in net income (loss) of subsidiaries	13.6			2.3			—			(15.9		)	—
Net income (loss)	$	(64.9	)	$	13.6		$	2.3		$	(15.9	)	$	(64.9	)
Comprehensive income (loss)	$	(65.0	)	$	13.6		$	2.2		$	(15.8	)	$	(65.0	)

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2013 (Unaudited) (in millions)
	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	)	$	36.1		$	5.7		$	—		$	8.4
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			1.2			—			—			1.2
Investment in affiliated companies	—			(30.7		)	—			30.7			—
(Increase) decrease in restricted cash	—			0.2			—			—			0.2
Capital expenditures	(0.7		)	(5.5		)	(1.1		)	—			(7.3		)
Other, net	—			0.4			—			—			0.4
Net cash used in investing activities from continuing operations	(0.7		)	(34.4		)	(1.1		)	30.7			(5.5		)
Financing activities:
Repayment of debt	—			—			(0.5		)	—			(0.5		)
Cash paid for contingent acquisition consideration	—			(2.1		)	—			—			(2.1		)
Financing from affiliated companies	28.6			—			2.1			(30.7		)	—
Other, net	(0.3		)	—			—			—			(0.3		)
Net cash provided by (used in) financing activities from continuing operations	28.3			(2.1		)	1.6			(30.7		)	(2.9		)
Net cash flows of continuing operations	(5.8		)	(0.4		)	6.2			—			—
Net operating cash flows from discontinued operations	—			0.8			—			—			0.8
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.1		)	—			(0.1		)
Net increase (decrease) in cash and cash equivalents	$	(5.8	)	$	0.4		$	6.1		$	—		$	0.7

Condensed Consolidating Statement of Cash Flows Six Months Ended June 29, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(31.8	)	$	28.7		$	(7.2	)	$	—		$	(10.3	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			(1.6		)	—			—			(1.6		)
Investment in affiliated companies	—			(23.2		)	—			23.2			—
(Increase) decrease in restricted cash	—			(0.1		)	—			—			(0.1		)
Capital expenditures	(0.5		)	(5.2		)	(0.9		)	—			(6.6		)
Net cash used in investing activities from continuing operations	(0.5		)	(30.1		)	(0.9		)	23.2			(8.3		)
Financing activities:
Proceeds from issuance of long-term debt	618.5			—			—			—			618.5
Payment of long-term debt	(661.5		)	—			—			—			(661.5		)
Debt issuance costs	(8.5		)	—			—			—			(8.5		)
Borrowings under line of credit	41.0			—			—			—			41.0
Repayment of debt	—			—			(0.4		)	—			(0.4		)
Financings from affiliated companies	20.7			—			2.5			(23.2		)	—
Other, net	1.5			—			—			—			1.5
Net cash provided by (used in) financing activities from continuing operations	11.7			—			2.1			(23.2		)	(9.4		)
Net cash flows of continuing operations	(20.6		)	(1.4		)	(6.0		)	—			(28.0		)
Net operating cash flows from discontinued operations	—			(0.9		)	—			—			(0.9		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.1			—			0.1
Net increase (decrease) in cash and cash equivalents	$	(20.6	)	$	(2.3	)	$	(5.9	)	$	—		$	(28.8	)