Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 28, 2014

Organization, Consolidation and Presentation of 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 September 28, 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	$	13.7		$	(5.9	)	$	8.4	$	—		$	16.2
Accounts receivable, net	—			223.7			31.4		—			255.1
Amounts due from affiliated companies	398.1			—			—		(398.1		)	—
Inventoried costs	—			61.7			18.7		—			80.4
Other current assets	5.0			16.1			3.9		—			25.0
Total current assets	416.8			295.6			62.4		(398.1		)	376.7
Amounts due from affiliated companies, long-term	—			24.0			—		(24.0		)	—
Property, plant and equipment, net	2.0			70.3			10.3		—			82.6
Goodwill	—			572.4			24.0		—			596.4
Intangible assets, net	—			57.4			0.4		—			57.8
Investment in subsidiaries	492.2			41.9			—		(534.1		)	—
Other assets	7.9			24.5			—		—			32.4
Total assets	$	918.9		$	1,086.1		$	97.1	$	(956.2	)	$	1,145.9
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.2		$	41.9		$	4.1	$	—		$	49.2
Accrued expenses	17.4			32.2			4.1		—			53.7
Accrued compensation	4.1			29.4			3.6		—			37.1
Billings in excess of costs and earnings on uncompleted contracts	—			40.9			6.3		—			47.2
Deferred income tax liability	(0.8		)	29.2			—		—			28.4
Amounts due to affiliated companies	—			379.2			18.9		(398.1		)	—
Other current liabilities	1.0			9.6			1.0		—			11.6
Total current liabilities	24.9			562.4			38.0		(398.1		)	227.2
Long-term debt, net of current portion	659.9			—			3.0		—			662.9
Amounts due to affiliated companies	—			—			24.0		(24.0		)	—
Other long-term liabilities	3.1			19.5			2.2		—			24.8
Total liabilities	687.9			581.9			67.2		(422.1		)	914.9
Total stockholders' equity	231.0			504.2			29.9		(534.1		)	231.0
Total liabilities and stockholders' equity	$	918.9		$	1,086.1		$	97.1	$	(956.2	)	$	1,145.9

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

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended September 29, 2013 (Unaudited) (in millions)
	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		)
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) Three Months Ended September 28, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	94.1		$	3.0		$	—		$	97.1
Product sales	—			103.4			18.6			(2.0		)	120.0
Total revenues	—			197.5			21.6			(2.0		)	217.1
Cost of service revenues	—			75.4			2.3			—			77.7
Cost of product sales	—			76.9			11.5			(2.0		)	86.4
Total costs	—			152.3			13.8			(2.0		)	164.1
Gross profit	—			45.2			7.8			—			53.0
Selling, general and administrative expenses	2.9			39.5			3.5			—			45.9
Research and development expenses	—			5.5			0.4			—			5.9
Operating income (loss) from continuing operations	(2.9		)	0.2			3.9			—			1.2
Other income (expense):
Interest expense, net	(12.2		)	—			0.1			—			(12.1		)
Loss on extinguishment of debt	—			—			—			—			—
Other income (expense), net	—			0.1			(0.5		)	—			(0.4		)
Total other income and expense, net	(12.2		)	0.1			(0.4		)	—			(12.5		)
Income (loss) from continuing operations before income taxes	(15.1		)	0.3			3.5			—			(11.3		)
Provision (benefit) for income taxes from continuing operations	0.4			(1.2		)	0.6			—			(0.2		)
Income (loss) from continuing operations	(15.5		)	1.5			2.9			—			(11.1		)
Income (loss) from discontinued operations	0.2			—			—			—			0.2
Equity in net income (loss) of subsidiaries	4.4			2.9			—			(7.3		)	—
Net income (loss)	$	(10.9	)	$	4.4		$	2.9		$	(7.3	)	$	(10.9	)
Comprehensive income (loss)	$	(11.0	)	$	4.4		$	2.8		$	(7.2	)	$	(11.0	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine Months Ended September 29, 2013 (Unaudited) (in millions)
	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 income (loss)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 income (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		)
Income (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	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine Months Ended September 28, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	292.3		$	7.2		$	—		$	299.5
Product sales	—			304.4			50.3			(7.7		)	347.0
Total revenues	—			596.7			57.5			(7.7		)	646.5
Cost of service revenues	—			224.1			5.6			—			229.7
Cost of product sales	—			228.4			34.1			(7.7		)	254.8
Total costs	—			452.5			39.7			(7.7		)	484.5
Gross profit	—			144.2			17.8			—			162.0
Selling, general and administrative expenses	11.9			113.8			10.1			—			135.8
Research and development expenses	—			15.8			1.2			—			17.0
Operating income from continuing operations	(11.9		)	14.6			6.5			—			9.2
Other income (expense):
Interest expense, net	(42.1		)	0.1			(0.2		)	—			(42.2		)
Loss on extinguishment of debt	(39.1		)	—			—			—			(39.1		)
Other income (expense), net	—			0.1			(0.1		)	—			—
Total other expense, net	(81.2		)	0.2			(0.3		)	—			(81.3		)
Income (loss) from continuing operations before income taxes	(93.1		)	14.8			6.2			—			(72.1		)
Provision (benefit) for income taxes from continuing operations	0.9			1.8			1.0			—			3.7
Income (loss) from continuing operations	(94.0		)	13.0			5.2			—			(75.8		)
Income (loss) from discontinued operations	0.2			(0.2		)	—			—			—
Equity in net income (loss) of subsidiaries	18.0			5.2			—			(23.2		)	—
Net income (loss)	$	(75.8	)	$	18.0		$	5.2		$	(23.2	)	$	(75.8	)
Comprehensive income (loss)	$	(76.0	)	$	18.0		$	5.0		$	(23.0	)	$	(76.0	)

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 29, 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	)	$	40.7		$	3.7		$	—		$	11.0
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			2.2			—			—			2.2
Investment in affiliated companies	—			(32.4		)	—			32.4			—
(Increase) decrease in restricted cash	—			0.5			—			—			0.5
Capital expenditures	(1.0		)	(9.3		)	(1.9		)	—			(12.2		)
Proceeds from sale of discontinued operations	—			0.4			—			—			0.4
Net cash provided by (used in) investing activities from continuing operations	(1.0		)	(38.6		)	(1.9		)	32.4			(9.1		)
Financing activities:
Repayment of debt	—			—			(0.8		)	—			(0.8		)
Cash paid for contingent acquisition consideration	—			(2.1		)	—			—			(2.1		)
Financing from affiliated companies	29.6			—			2.8			(32.4		)	—
Other, net	1.2			—			—			—			1.2
Net cash provided by (used in) financing activities from continuing operations	30.8			(2.1		)	2.0			(32.4		)	(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

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 28, 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	$	(33.4	)	$	21.1		$	(5.9	)	$	—		$	(18.2	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			(2.6		)	—			—			(2.6		)
Investment in affiliated companies	—			(12.2		)	—			12.2			—
(Increase) decrease in restricted cash	—			(0.1		)	—			—			(0.1		)
Capital expenditures	(0.6		)	(8.0		)	(0.8		)	—			(9.4		)
Net cash used in investing activities from continuing operations	(0.6		)	(22.9		)	(0.8		)	12.2			(12.1		)
Financing activities:
Proceeds from issuance of long-term debt	618.5			—			—			—			618.5
Extinguishment of long-term debt	(661.5		)	—			—			—			(661.5		)
Debt issuance costs	(8.5		)	—			—			—			(8.5		)
Credit agreement borrowings	41.0			—			—			—			41.0
Repayment of debt	—			—			(0.7		)	—			(0.7		)
Financings from affiliated companies	12.2			—			—			(12.2		)	—
Other, net	3.3			—			—			—			3.3
Net cash provided by (used in) financing activities from continuing operations	5.0			—			(0.7		)	(12.2		)	(7.9		)
Net cash flows of continuing operations	(29.0		)	(1.8		)	(7.4		)	—			(38.2		)
Net operating cash flows from discontinued operations	—			(1.2		)	—			—			(1.2		)
Effect of exchange rate changes on cash and cash equivalents	—			0.1			(0.2		)	—			(0.1		)
Net increase (decrease) in cash and cash equivalents	$	(29.0	)	$	(2.9	)	$	(7.6	)	$	—		$	(39.5	)