SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2019

($ in millions)

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations and Reclassifications			U.S. Concrete Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	29.0	$	11.6	$	—		$	40.6
Trade accounts receivable, net	—		216.6		16.5		—			233.1
Inventories	—		45.9		13.1		—			59.0
Other receivables	15.1		6.3		0.3		(13.3		)	8.4
Prepaid expenses and other	—		7.3		0.6		—			7.9
Intercompany receivables	8.9		—		0.3		(9.2		)	—
Total current assets	24.0		305.1		42.4		(22.5		)	349.0
Property, plant and equipment, net	—		470.3		203.2		—			673.5
Operating lease assets	—		55.8		14.0		—			69.8
Goodwill	—		155.7		83.8		—			239.5
Intangible assets, net	—		88.2		4.2		—			92.4
Investment in subsidiaries	642.6		—		—		(642.6		)	—
Long-term intercompany receivables	281.8		—		5.3		(287.1		)	—
Other assets	—		8.0		1.1		—			9.1
Total assets	$	948.4	$	1,083.1	$	354.0	$	(952.2	)	$	1,433.3
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	—	$	134.4	$	2.0	$	—		$	136.4
Accrued liabilities	4.3		64.0		8.5		(13.3		)	63.5
Current maturities of long-term debt	0.3		31.7		0.5		—			32.5
Current operating lease liabilities	—		11.2		1.7		—			12.9
Intercompany payables	—		—		9.2		(9.2		)	—
Total current liabilities	4.6		241.3		21.9		(22.5		)	245.3
Long-term debt, net of current maturities	600.4		52.9		1.5		—			654.8
Long-term operating lease liabilities	—		47.1		12.6		—			59.7
Other long-term obligations and deferred credits	—		44.2		4.9		—			49.1
Deferred income taxes	—		28.9		25.9		—			54.8
Long-term intercompany payables	—		170.4		116.7		(287.1		)	—
Total liabilities	605.0		584.8		183.5		(309.6		)	1,063.7
Total shareholders' equity	343.4		498.3		144.3		(642.6		)	343.4
Non-controlling interest	—		—		26.2		—			26.2
Total equity	343.4		498.3		170.5		(642.6		)	369.6
Total liabilities and equity	$	948.4	$	1,083.1	$	354.0	$	(952.2	)	$	1,433.3

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2018

($ in millions)

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations and Reclassifications			U.S. Concrete Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	10.8	$	9.2	$	—		$	20.0
Trade accounts receivable, net	—		219.7		6.9		—			226.6
Inventories	—		42.4		8.8		—			51.2
Other receivables	11.1		7.0		0.3		—			18.4
Prepaid expenses and other	—		7.1		0.8		—			7.9
Intercompany receivables	9.7		—		0.3		(10.0		)	—
Total current assets	20.8		287.0		26.3		(10.0		)	324.1
Property, plant and equipment, net	—		468.3		211.9		—			680.2
Goodwill	—		155.5		83.8		—			239.3
Intangible assets, net	—		111.8		4.8		—			116.6
Investment in subsidiaries	604.1		—		—		(604.1		)	—
Long-term intercompany receivables	308.9		—		1.1		(310.0		)	—
Other assets	—		10.8		0.3		—			11.1
Total assets	$	933.8	$	1,033.4	$	328.2	$	(924.1	)	$	1,371.3
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	—	$	122.4	$	3.4	$	—		$	125.8
Accrued liabilities	4.7		83.2		8.4		—			96.3
Current maturities of long-term debt	0.3		29.9		0.6		—			30.8
Intercompany payables	—		—		10.0		(10.0		)	—
Total current liabilities	5.0		235.5		22.4		(10.0		)	252.9
Long-term debt, net of current maturities	615.5		67.6		0.2		—			683.3
Other long-term obligations and deferred credits	0.9		51.0		2.9		—			54.8
Deferred income taxes	—		22.4		20.7		—			43.1
Long-term intercompany payables	—		188.7		121.3		(310.0		)	—
Total liabilities	621.4		565.2		167.5		(320.0		)	1,034.1
Total shareholder's equity	312.4		468.2		135.9		(604.1		)	312.4
Non-controlling interest	—		—		24.8		—			24.8
Total equity	312.4		468.2		160.7		(604.1		)	337.2
Total liabilities and equity	$	933.8	$	1,033.4	$	328.2	$	(924.1	)	$	1,371.3

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

2019

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations and Reclassifications			U.S. Concrete Consolidated
Revenue	$	—		$	1,361.2		$	117.5		$	—		$	1,478.7
Cost of goods sold before depreciation, depletion and amortization	—			1,107.6			80.0			—			1,187.6
Selling, general and administrative expenses	—			122.6			7.4			—			130.0
Depreciation, depletion and amortization	—			78.2			15.0			—			93.2
Change in value of contingent consideration	—			2.8			—			—			2.8
Gain on sale/disposal of assets and business, net	—			(0.1		)	—			—			(0.1		)
Operating income	—			50.1			15.1			—			65.2
Interest expense, net	39.7			3.6			2.8			—			46.1
Other income, net	—			(7.9		)	(1.6		)	—			(9.5		)
Income (loss) before income taxes, equity in earnings of subsidiaries and non-controlling interest	(39.7		)	54.4			13.9			—			28.6
Income tax expense (benefit)	(15.1		)	24.3			3.1			—			12.3
Net income (loss) before equity in earnings of subsidiaries and non-controlling interest	(24.6		)	30.1			10.8			—			16.3
Equity in earnings of subsidiaries	39.5			—			—			(39.5		)	—
Net income (loss)	14.9			30.1			10.8			(39.5		)	16.3
Less: Net income attributable to non-controlling interest	—			—			(1.4		)	—			(1.4		)
Net income (loss) attributable to U.S. Concrete	$	14.9		$	30.1		$	9.4		$	(39.5	)	$	14.9

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

2018

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations and Reclassifications			U.S. Concrete Consolidated
Revenue	$	—		$	1,394.4		$	112.0		$	—		$	1,506.4
Cost of goods sold before depreciation, depletion and amortization	—			1,130.8			81.4			—			1,212.2
Selling, general and administrative expenses	—			118.5			8.0			—			126.5
Depreciation, depletion and amortization	—			76.2			15.6			—			91.8
Change in value of contingent consideration	0.1			(0.1		)	—			—			—
Impairment of assets	—			1.3			—			—			1.3
Loss (gain) on sale/disposal of assets and business, net	—			(15.5		)	0.2			—			(15.3		)
Operating income (loss)	(0.1		)	83.2			6.8			—			89.9
Interest expense, net	39.5			3.7			3.2			—			46.4
Other expense (income), net	1.2			(3.7		)	(2.1		)	—			(4.6		)
Income (loss) before income taxes and equity in earnings of subsidiaries	(40.8		)	83.2			5.7			—			48.1
Income tax expense (benefit)	(4.5		)	18.4			2.9			—			16.8
Net income (loss) before equity in earnings of subsidiaries and non-controlling interest	(36.3		)	64.8			2.8			—			31.3
Equity in earnings of subsidiaries	66.3			—			—			(66.3		)	—
Net income (loss)	30.0			64.8			2.8			(66.3		)	31.3
Less: Net income attributable to non-controlling interest	—			—			(1.3		)	—			(1.3		)
Net income (loss) attributable to U.S. Concrete	$	30.0		$	64.8		$	1.5		$	(66.3	)	$	30.0

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

2017

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations and Reclassifications			U.S. Concrete Consolidated
Revenue	$	—		$	1,311.6		$	24.4		$	—		$	1,336.0
Cost of goods sold before depreciation, depletion and amortization	—			1,034.3			22.3			—			1,056.6
Selling, general and administrative expenses	—			115.4			3.8			—			119.2
Depreciation, depletion and amortization	—			64.1			3.7			—			67.8
Change in value of contingent consideration	0.9			7.0			—			—			7.9
Impairment of goodwill and other assets	—			—			6.2			—			6.2
Gain on sale/disposal of assets and business, net	—			(0.7		)	—			—			(0.7		)
Operating income (loss)	(0.9		)	91.5			(11.6		)	—			79.0
Interest expense, net	39.9			1.6			0.6			—			42.1
Derivative loss	0.8			—			—			—			0.8
Other income, net	—			(2.5		)	—			—			(2.5		)
Income (loss) from continuing operations before income taxes and equity in earnings of subsidiaries	(41.6		)	92.4			(12.2		)	—			38.6
Income tax expense (benefit)	(16.3		)	29.0			(0.3		)	—			12.4
Net income (loss) from continuing operations before equity in earnings of subsidiaries	(25.3		)	63.4			(11.9		)	—			26.2
Loss from discontinued operations, net of taxes and before equity in earnings of subsidiaries	—			(0.6		)	—			—			(0.6		)
Net income (loss) before equity in earnings of subsidiaries	(25.3		)	62.8			(11.9		)	—			25.6
Equity in earnings of subsidiaries	50.8			—			—			(50.8		)	—
Net income (loss)	25.5			62.8			(11.9		)	(50.8		)	25.6
Less: Net income attributable to non-controlling interest	—			—			(0.1		)	—			(0.1		)
Net income (loss) attributable to U.S. Concrete	$	25.5		$	62.8		$	(12.0	)	$	(50.8	)	$	25.5

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

2019

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Net cash provided by (used in) operating activities	$	(42.3	)	$	147.2		$	15.9		$	18.0		$	138.8
Cash flows from investing activities:
Purchases of property, plant and equipment	—			(39.1		)	(3.6		)	—			(42.7		)
Proceeds from sale of businesses and property, plant and equipment	—			2.9			—			—			2.9
Proceeds from eminent domain matter and property insurance claims	—			5.3			0.7			—			6.0
Investment in subsidiaries	1.0			—			—			(1.0		)	—
Net cash provided by (used in) investing activities	1.0			(30.9		)	(2.9		)	(1.0		)	(33.8		)
Cash flows from financing activities:
Proceeds from revolver borrowings	353.5			—			—			—			353.5
Repayments of revolver borrowings	(368.5		)	—			—			—			(368.5		)
Proceeds from stock option exercises	0.2			—			—			—			0.2
Payments of other long-term obligations	(0.7		)	(32.7		)	—			—			(33.4		)
Payments for finance leases, promissory notes and other	(0.3		)	(31.8		)	(0.7		)	—			(32.8		)
Shares redeemed for employee income tax obligations	(3.2		)	—			—			—			(3.2		)
Intercompany funding	60.3			(33.6		)	(9.7		)	(17.0		)	—
Net cash provided by (used in) financing activities	41.3			(98.1		)	(10.4		)	(17.0		)	(84.2		)
Effect of exchange rates on cash and cash equivalents	—			—			(0.2		)	—			(0.2		)
Net increase in cash and cash equivalents	—			18.2			2.4			—			20.6
Cash and cash equivalents at beginning of period	—			10.8			9.2			—			20.0
Cash and cash equivalents at end of period	$	—		$	29.0		$	11.6		$	—		$	40.6

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

2018

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Net cash provided by (used in) operating activities	$	(32.5	)	$	156.5		$	1.9		$	(3.1	)	$	122.8
Cash flows from investing activities:
Purchases of property, plant and equipment	—			(35.9		)	(4.0		)	—			(39.9		)
Payments for acquisitions, net of cash acquired	—			(72.3		)	—			—			(72.3		)
Proceeds from sale of businesses and property, plant and equipment	—			20.7			—			—			20.7
Purchase of environmental credits	—			—			(2.8		)	—			(2.8		)
Proceeds from property insurance claims	—			1.6			1.0			—			2.6
Investment in subsidiaries	6.5			—			—			(6.5		)	—
Net cash provided by (used in) investing activities	6.5			(85.9		)	(5.8		)	(6.5		)	(91.7		)
Cash flows from financing activities:
Proceeds from revolver borrowings	431.2			—			—			—			431.2
Repayments of revolver borrowings	(425.2		)	—			—			—			(425.2		)
Proceeds from stock option exercises	0.1			—			—			—			0.1
Payments of other long-term obligations	(2.2		)	(3.7		)	—			—			(5.9		)
Payments for finance leases, promissory notes and other	—			(28.5		)	(1.1		)	—			(29.6		)
Payments for Share Repurchase Program	(6.7		)	—			—			—			(6.7		)
Shares redeemed for employee income tax obligations	(1.9		)	—			—			—			(1.9		)
Other proceeds	—			4.6			—			—			4.6
Intercompany funding	30.7			(39.2		)	(1.1		)	9.6			—
Net cash provided by (used in) financing activities	26.0			(66.8		)	(2.2		)	9.6			(33.4		)
Effect of exchange rates on cash and cash equivalents	—			—			(0.3		)	—			(0.3		)
Net increase (decrease) in cash and cash equivalents	—			3.8			(6.4		)	—			(2.6		)
Cash and cash equivalents at beginning of period	—			7.0			15.6			—			22.6
Cash and cash equivalents at end of period	$	—		$	10.8		$	9.2		$	—		$	20.0

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

2017

($ in millions)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Net cash provided by (used in) operating activities	$	(30.1	)	$	114.5		$	(4.9	)	$	15.3		$	94.8
Cash flows from investing activities:
Purchases of property, plant and equipment	—			(40.0		)	(2.7		)	—			(42.7		)
Payments for acquisitions, net of cash acquired	(236.1		)	(59.0		)	—			—			(295.1		)
Proceeds from sale of businesses and property, plant and equipment	—			3.5			—			—			3.5
Investment in subsidiaries	(1.8		)	—			—			1.8			—
Net cash provided by (used in) investing activities	(237.9		)	(95.5		)	(2.7		)	1.8			(334.3		)
Cash flows from financing activities:
Proceeds from revolver borrowings	54.4			—			—			—			54.4
Repayments of revolver borrowings	(45.4		)	—			—			—			(45.4		)
Proceeds from issuance of debt	211.5												211.5
Proceeds from warrant and stock option exercises	2.7			—			—			—			2.7
Payments of other long-term obligations	(4.2		)	(4.8		)	—			—			(9.0		)
Payments for finance leases, promissory notes and other	—			(20.2		)	(0.1		)	—			(20.3		)
Debt issuance costs	(4.5		)	—			—			—			(4.5		)
Shares redeemed for employee income tax obligations	(3.1		)	—			—			—			(3.1		)
Intercompany funding	56.6			(62.6		)	23.1			(17.1		)	—
Net cash provided by (used in) financing activities	268.0			(87.6		)	23.0			(17.1		)	186.3
Net increase (decrease) in cash and cash equivalents	—			(68.6		)	15.4			—			(53.2		)
Cash and cash equivalents at beginning of period	—			75.6			0.2						75.8
Cash and cash equivalents at end of period	$	—		$	7.0		$	15.6		$	—		$	22.6