Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Apr. 01, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet April 1, 2018 (Unaudited) (in millions)
	Parent Company		Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash, cash equivalents and restricted cash	$	118.2	$	(1.6	)	$	11.6	$	—		$	128.2
Accounts receivable and unbilled receivables, net	—		181.8			27.1		—			208.9
Amounts due from affiliated companies	240.3		—			—		(240.3		)	—
Inventoried costs	—		29.9			18.3		—			48.2
Other current assets	3.1		12.1			4.5		—			19.7
Current assets of discontinued operations	—		52.1			—		—			52.1
Total current assets	361.6		274.3			61.5		(240.3		)	457.1
Property, plant and equipment, net	1.7		53.0			6.8		—			61.5
Goodwill	—		382.8			42.9		—			425.7
Intangible assets, net	—		14.6			5.7		—			20.3
Investment in subsidiaries	475.4		72.7			—		(548.1		)	—
Other assets	0.8		7.0			—		—			7.8
Non-current assets of discontinued operations	—		38.8			—		—			38.8
Total assets	$	839.5	$	843.2		$	116.9	$	(788.4	)	$	1,011.2
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	2.2	$	25.2		$	3.9	$	—		$	31.3
Accrued expenses	8.7		29.8			1.9		—			40.4
Accrued compensation	5.0		25.6			3.5		—			34.1
Billings in excess of costs and earnings on uncompleted contracts	—		36.0			2.2		—			38.2
Amounts due to affiliated companies	—		207.6			32.7		(240.3		)	—
Other current liabilities	0.7		2.3			4.8		—			7.8
Current liabilities of discontinued operations	0.6		22.5			0.1		—			23.2
Total current liabilities	17.2		349.0			49.1		(240.3		)	175.0
Long-term debt, net of current portion	293.6		—			—		—			293.6
Other long-term liabilities	12.4		4.7			7.1		—			24.2
Non-current liabilities of discontinued operations	3.8		2.1			—		—			5.9
Total liabilities	327.0		355.8			56.2		(240.3		)	498.7
Total stockholders’ equity	512.5		487.4			60.7		(548.1		)	512.5
Total liabilities and stockholders’ equity	$	839.5	$	843.2		$	116.9	$	(788.4	)	$	1,011.2

Condensed Consolidating Balance Sheet December 31, 2017 (Unaudited) (in millions)
	Parent Company		Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash, cash equivalents and restricted cash	$	121.3	$	(1.1	)	$	10.7	$	—		$	130.9
Accounts receivable and unbilled receivables, net	—		183.8			28.5		—			212.3
Amounts due from affiliated companies	238.1		—			—		(238.1		)	—
Inventoried costs	—		30.8			18.2		—			49.0
Other current assets	3.7		13.5			3.4		—			20.6
Current assets of discontinued operations	—		58.6			—		—			58.6
Total current assets	363.1		285.6			60.8		(238.1		)	471.4
Property, plant and equipment, net	1.9		49.3			6.8		—			58.0
Goodwill	—		382.8			42.9		—			425.7
Intangible assets, net	—		15.8			6.2		—			22.0
Investment in subsidiaries	471.1		70.0			—		(541.1		)	—
Other assets	0.8		7.3			—		—			8.1
Non-current assets of discontinued operations	—		38.8			—		—			38.8
Total assets	$	836.9	$	849.6		$	116.7	$	(779.2	)	$	1,024.0
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	2.3	$	27.9		$	4.5	$	—		$	34.7
Accrued expenses	5.7		33.6			3.3		—			42.6
Accrued compensation	5.6		20.7			3.9		—			30.2
Billings in excess of costs and earnings on uncompleted contracts	—		38.2			4.6		—			42.8
Amounts due to affiliated companies	—		206.4			31.7		(238.1		)	—
Other current liabilities	1.4		4.3			3.7		—			9.4
Current liabilities of discontinued operations	1.0		28.1			0.1		—			29.2
Total current liabilities	16.0		359.2			51.8		(238.1		)	188.9
Long-term debt, net of current portion	293.5		—			—		—			293.5
Other long-term liabilities	12.1		5.1			6.9		—			24.1
Non-current liabilities of discontinued operations	3.8		2.2			—		—			6.0
Total liabilities	325.4		366.5			58.7		(238.1		)	512.5
Total stockholders’ equity	511.5		483.1			58.0		(541.1		)	511.5
Total liabilities and stockholders’ equity	$	836.9	$	849.6		$	116.7	$	(779.2	)	$	1,024.0

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

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended April 1, 2018 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	42.7		$	3.3	$	—		$	46.0
Product sales	—			85.5			16.4		(4.9		)	97.0
Total revenues	—			128.2			19.7		(4.9		)	143.0
Cost of service revenues	—			30.4			2.5		—			32.9
Cost of product sales	—			63.2			11.0		(4.9		)	69.3
Total costs	—			93.6			13.5		(4.9		)	102.2
Gross profit	—			34.6			6.2		—			40.8
Selling, general and administrative expenses	0.4			26.7			3.1		—			30.2
Research and development expenses	—			3.2			0.4		—			3.6
Operating income (loss) from continuing operations	(0.4		)	4.7			2.7		—			7.0
Other income (expense):
Interest income (expense), net	(5.2		)	0.1			—		—			(5.1		)
Other income (expense), net	(0.8		)	0.8			0.3		—			0.3
Total other income (expense), net	(6.0		)	0.9			0.3		—			(4.8		)
Income (loss) from continuing operations before income taxes	(6.4		)	5.6			3.0		—			2.2
Provision for income taxes from continuing operations	0.1			0.5			0.3		—			0.9
Income (loss) from continuing operations	(6.5		)	5.1			2.7		—			1.3
Loss from discontinued operations	—			(3.5		)	—		—			(3.5		)
Equity in net income (loss) of subsidiaries	4.3			2.7			—		(7.0		)	—
Net income (loss)	$	(2.2	)	$	4.3		$	2.7	$	(7.0	)	$	(2.2	)
Comprehensive income (loss)	$	(2.3	)	$	4.3		$	2.6	$	(6.9	)	$	(2.3	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 26, 2017 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	46.6		$	2.6		$	—		$	49.2
Product sales	—			73.3			12.7			(3.2		)	82.8
Total revenues	—			119.9			15.3			(3.2		)	132.0
Cost of service revenues	—			33.1			1.9			—			35.0
Cost of product sales	—			54.0			10.1			(3.2		)	60.9
Total costs	—			87.1			12.0			(3.2		)	95.9
Gross profit	—			32.8			3.3			—			36.1
Selling, general and administrative expenses	2.1			25.1			3.1			—			30.3
Research and development expenses	—			4.0			0.4			—			4.4
Operating income (loss) from continuing operations	(2.1		)	3.7			(0.2		)	—			1.4
Other income (expense):
Interest income (expense), net	(8.2		)	—			—			—			(8.2		)
Loss on extinguishment of debt	(2.1		)	—			—			—			(2.1		)
Other income (expense), net	—			—			0.2			—			0.2
Total other income (expense), net	(10.3		)	—			0.2			—			(10.1		)
Income (loss) from continuing operations before income taxes	(12.4		)	3.7			—			—			(8.7		)
Provision for income taxes from continuing operations	0.1			1.0			0.3			—			1.4
Income (loss) from continuing operations	(12.5		)	2.7			(0.3		)	—			(10.1		)
Income (loss) from discontinued operations	(0.1		)	0.2			—			—			0.1
Equity in net income (loss) of subsidiaries	2.6			(0.3		)	—			(2.3		)	—
Net income (loss)	$	(10.0	)	$	2.6		$	(0.3	)	$	(2.3	)	$	(10.0	)
Comprehensive income (loss)	$	(9.9	)	$	2.6		$	(0.2	)	$	(2.4	)	$	(9.9	)

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Three Months Ended April 1, 2018 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations		Consolidated
Net cash provided by (used in) operating activities from continuing operations	$	(3.1	)	$	10.2		$	(0.6	)	$	—	$	6.5
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			(1.9		)	1.9			—		—
Investment in affiliated companies	—			—			—			—		—
Change in restricted cash	—			—			—			—		—
Proceeds from sale of assets	—			—			—			—		—
Capital expenditures	—			(6.2		)	(0.5		)	—		(6.7		)
Net cash provided by (used in) investing activities from continuing operations	—			(8.1		)	1.4			—		(6.7		)
Financing activities:
Repayment of debt	—			—			(0.2		)	—		(0.2		)
Debt issuance costs	(0.1		)	—			—			—		(0.1		)
Proceeds from the issuance of common stock	(1.1		)	—			—			—		(1.1		)
Proceeds from the sale of employee stock purchase plan shares	1.8			—			—			—		1.8
Net cash provided by (used in) financing activities from continuing operations	0.6			—			(0.2		)	—		0.4
Net cash flows of continuing operations	(2.5		)	2.1			0.6			—		0.2
Net operating cash flows from discontinued operations	(0.4		)	(2.7		)	—			—		(3.1		)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	—			—			0.2			—		0.2
Net increase (decrease) in cash, cash equivalents and restricted cash	$	(2.9	)	$	(0.6	)	$	0.8		$	—	$	(2.7	)

Condensed Consolidating Statement of Cash Flows Three Months Ended March 26, 2017 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities from continuing operations	$	(1.5	)	$	(4.7	)	$	0.8		$	—		$	(5.4	)
Investing activities:
Investment in affiliated companies	(14.6		)	—			—			14.6			—
Capital expenditures	—			(4.9		)	(0.2		)	—			(5.1		)
Net cash provided by (used in) investing activities from continuing operations	(14.6		)	(4.9		)	(0.2		)	14.6			(5.1		)
Financing activities:
Extinguishment of long-term debt	(64.0		)	—			—			—			(64.0		)
Repayment of debt	—			—			(0.3		)	—			(0.3		)
Proceeds from the issuance of common stock	81.9			—			—			—			81.9
Proceeds from the sale of employee stock purchase plan shares	0.8			—			—			—			0.8
Financing from affiliated companies	—			14.6			—			(14.6		)	—
Net cash provided by (used in) financing activities from continuing operations	18.7			14.6			(0.3		)	(14.6		)	18.4
Net cash flows of continuing operations	2.6			5.0			0.3			—			7.9
Net operating cash flows from discontinued operations	(0.4		)	(3.9		)	—			—			(4.3		)
Net investing cash flows from discontinued operations	(0.2		)	—			—			—			(0.2		)
Net increase in cash, cash equivalents and restricted cash	$	2.0		$	1.1		$	0.3		$	—		$	3.4