SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

SEPTEMBER 30, 2019

(in millions)



	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			U.S. Concrete Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	17.8	$	9.2	$	—		$	27.0
Trade accounts receivable, net	—		239.9		19.4		—			259.3
Inventories	—		43.2		10.7		—			53.9
Other receivables, net	10.9		9.0		0.5		(7.1		)	13.3
Prepaid expenses and other	—		8.4		0.6		—			9.0
Intercompany receivables	9.7		—		0.3		(10.0		)	—
Total current assets	20.6		318.3		40.7		(17.1		)	362.5
Property, plant and equipment, net	—		470.0		206.3		—			676.3
Operating lease assets	—		56.0		13.3		—			69.3
Goodwill	—		155.7		83.8		—			239.5
Intangible assets, net	—		93.7		4.3		—			98.0
Investment in subsidiaries	633.2		—		—		(633.2		)	—
Long-term intercompany receivables	309.8		—		1.1		(310.9		)	—
Other assets	—		9.0		1.7		—			10.7
Total assets	$	963.6	$	1,102.7	$	351.2	$	(961.2	)	$	1,456.3
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	—	$	131.7	$	4.1	$	—		$	135.8
Accrued liabilities	13.9		75.7		7.8		(7.1		)	90.3
Current maturities of long-term debt	0.3		34.7		0.6		—			35.6
Current operating lease liabilities	—		11.7		1.8		—			13.5
Intercompany payables	—		—		10.0		(10.0		)	—
Total current liabilities	14.2		253.8		24.3		(17.1		)	275.2
Long-term debt, net of current maturities	611.6		56.9		1.6		—			670.1
Long-term operating lease liabilities	—		46.8		11.8		—			58.6
Other long-term obligations and deferred credits	—		39.0		5.0		—			44.0
Deferred income taxes	—		22.4		22.5		—			44.9
Long-term intercompany payables	—		192.8		118.1		(310.9		)	—
Total liabilities	625.8		611.7		183.3		(328.0		)	1,092.8
Total shareholders' equity	337.8		491.0		142.2		(633.2		)	337.8
Non-controlling interest	—		—		25.7		—			25.7
Total equity	337.8		491.0		167.9		(633.2		)	363.5
Total liabilities and equity	$	963.6	$	1,102.7	$	351.2	$	(961.2	)	$	1,456.3

CONDENSED CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2018

(in millions)



	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			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 shareholders' 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

THREE MONTHS ENDED SEPTEMBER 30, 2019

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Revenue	$	—		$	378.5		$	30.4		$	—		$	408.9
Cost of goods sold before depreciation, depletion and amortization	—			300.0			21.2			—			321.2
Selling, general and administrative expenses	—			30.0			2.0			—			32.0
Depreciation, depletion and amortization	—			19.1			3.2			—			22.3
Change in value of contingent consideration	—			0.3			—			—			0.3
Loss (gain) on sale/disposal of assets and business, net	—			(0.2		)	—			—			(0.2		)
Operating income	—			29.3			4.0			—			33.3
Interest expense, net	10.1			0.9			0.6			—			11.6
Other expense (income), net	0.2			(0.3		)	(0.1		)	—			(0.2		)
Income (loss) before income taxes, equity in earnings of subsidiaries and non-controlling interest	(10.3		)	28.7			3.5			—			21.9
Income tax expense/(benefit)	(3.8		)	11.0			1.1			—			8.3
Net income (loss) before equity in earnings of subsidiaries and non-controlling interest	(6.5		)	17.7			2.4			—			13.6
Equity in earnings of subsidiaries	19.5			—			—			(19.5		)	—
Net income (loss)	13.0			17.7			2.4			(19.5		)	13.6
Less: Net income attributable to non-controlling interest	—			—			(0.6		)	—			(0.6		)
Net income (loss) attributable to U.S. Concrete	$	13.0		$	17.7		$	1.8		$	(19.5	)	$	13.0

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2018

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Revenue	$	—		$	370.2		$	34.1		$	—		$	404.3
Cost of goods sold before depreciation, depletion and amortization	—			300.0			25.3			—			325.3
Selling, general and administrative expenses	—			30.5			1.7			—			32.2
Depreciation, depletion and amortization	—			21.3			4.2			—			25.5
Change in value of contingent consideration	—			0.4			—			—			0.4
Loss (gain) on sale/disposal of assets and business, net	—			(14.1		)	—			—			(14.1		)
Operating income	—			32.1			2.9			—			35.0
Interest expense, net	9.7			0.9			1.1			—			11.7
Other expense (income), net	—			(1.4		)	0.3			—			(1.1		)
Income (loss) before income taxes and equity in earnings of subsidiaries	(9.7		)	32.6			1.5			—			24.4
Income tax expense (benefit)	(3.1		)	10.7			1.0			—			8.6
Net income (loss) before equity in earnings of subsidiaries	(6.6		)	21.9			0.5			—			15.8
Equity in earnings of subsidiaries	22.1			—			—			(22.1		)	—
Net income (loss)	15.5			21.9			0.5			(22.1		)	15.8
Less: Net income attributable to non-controlling interest	—			—			(0.2		)	—			(0.2		)
Net income (loss) attributable to U.S. Concrete	$	15.5		$	21.9		$	0.3		$	(22.1	)	$	15.6

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 2019

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Revenue	$	—		$	1,019.8		$	89.7		$	—		$	1,109.5
Cost of goods sold before depreciation, depletion and amortization	—			823.2			63.2			—			886.4
Selling, general and administrative expenses	—			97.9			5.4			—			103.3
Depreciation, depletion and amortization	—			58.8			11.4			—			70.2
Change in value of contingent consideration	—			1.6			—			—			1.6
Loss (gain) on sale/disposal of assets and business, net	—			0.8			—			—			0.8
Operating income	—			37.5			9.7			—			47.2
Interest expense, net	29.8			2.9			2.1			—			34.8
Other expense (income), net	0.2			(6.0		)	(2.0		)	—			(7.8		)
Income (loss) before income taxes, equity in earnings of subsidiaries and non-controlling interest	(30.0		)	40.6			9.6			—			20.2
Income tax expense (benefit)	(10.9		)	17.6			1.6			—			8.3
Net income (loss) before equity in earnings of subsidiaries and non-controlling interest	(19.1		)	23.0			8.0			—			11.9
Equity in earnings of subsidiaries	30.1			—			—			(30.1		)	—
Net income (loss)	11.0			23.0			8.0			(30.1		)	11.9
Less: Net income attributable to non-controlling interest	—			—			(0.9		)	—			(0.9		)
Net income (loss) attributable to U.S. Concrete	$	11.0		$	23.0		$	7.1		$	(30.1	)	$	11.0

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 2018

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Revenue	$	—		$	1,054.3		$	82.0		$	—		$	1,136.3
Cost of goods sold before depreciation, depletion and amortization	—			849.2			63.5			—			912.7
Selling, general and administrative expenses	—			90.6			5.8			—			96.4
Depreciation, depletion and amortization	—			57.0			11.2			—			68.2
Change in value of contingent consideration	—			(0.9		)	—			—			(0.9		)
Impairment of assets	—			1.3			—			—			1.3
Loss (gain) on sale/disposal of assets and business, net	—			(14.6		)	—			—			(14.6		)
Operating income	—			71.7			1.5			—			73.2
Interest expense, net	29.6			2.7			2.3			—			34.6
Other expense (income), net	0.8			(3.9		)	(1.0		)	—			(4.1		)
Income (loss) before income taxes and equity in earnings of subsidiaries	(30.4		)	72.9			0.2			—			42.7
Income tax expense (benefit)	(8.9		)	22.3			1.1			—			14.5
Net income (loss) before equity in earnings of subsidiaries	(21.5		)	50.6			(0.9		)	—			28.2
Equity in earnings of subsidiaries	49.5			—			—			(49.5		)	—
Net income (loss)	28.0			50.6			(0.9		)	(49.5		)	28.2
Less: Net income attributable to non-controlling interest	—			—			(0.2		)	—			(0.2		)
Net income (loss) attributable to U.S. Concrete	$	28.0		$	50.6		$	(1.1	)	$	(49.5	)	$	28.0

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

NINE MONTHS ENDED SEPTEMBER 30, 2019

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Net cash provided by (used in) operating activities	$	(24.0	)	$	103.6		$	7.3		$	5.2		$	92.1
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			(25.4		)	(3.2		)	—			(28.6		)
Proceeds from disposals of businesses and property, plant and equipment	—			1.2			—			—			1.2
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			(18.9		)	(2.5		)	(1.0		)	(21.4		)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolver borrowings	273.3			—			—			—			273.3
Repayments of revolver borrowings	(277.2		)	—			—			—			(277.2		)
Proceeds from exercise of stock options	0.2			—			—			—			0.2
Payments of other long-term obligations	(0.8		)	(32.6		)	—			—			(33.4		)
Payments for other financing	(0.2		)	(23.6		)	(0.4		)	—			(24.2		)
Treasury share purchases	(2.2		)	—			—			—			(2.2		)
Intercompany funding	29.9			(21.5		)	(4.2		)	(4.2		)	—
Net cash provided by (used in) financing activities	23.0			(77.7		)	(4.6		)	(4.2		)	(63.5		)
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	—			—			(0.2		)	—			(0.2		)
NET INCREASE IN CASH AND CASH EQUIVALENTS	—			7.0			—			—			7.0
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	—			10.8			9.2			—			20.0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	17.8		$	9.2		$	—		$	27.0

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

NINE MONTHS ENDED SEPTEMBER 30, 2018

(in millions)



	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			U.S. Concrete Consolidated
Net cash provided by (used in) operating activities	$	(20.8	)	$	108.5		$	2.8		$	(0.3	)	$	90.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			(29.3		)	(2.9		)	—			(32.2		)
Payments for acquisitions, net of cash acquired	—			(72.3		)	—			—			(72.3		)
Proceeds from disposals of businesses and property, plant and equipment	—			18.6			—			—			18.6
Purchases of environmental credits	—			—			(2.8		)	—			(2.8		)
Proceeds from eminent domain matter and property insurance claims	—			1.6			0.5			—			2.1
Net cash provided by (used in) investing activities	—			(81.4		)	(5.2		)	—			(86.6		)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolver borrowings	338.2			—			—			—			338.2
Repayments of revolver borrowings	(310.7		)	—			—			—			(310.7		)
Proceeds from stock option exercises	0.1			—			—			—			0.1
Payments of other long-term obligations	(2.2		)	(3.4		)	—			—			(5.6		)
Payments for other financing	—			(20.6		)	(0.9		)	—			(21.5		)
Treasury share purchases	(1.9		)	—			—			—			(1.9		)
Other proceeds	—			0.5			—			—			0.5
Intercompany funding	(2.7		)	4.3			(1.9		)	0.3			—
Net cash provided by (used in) financing activities	20.8			(19.2		)	(2.8		)	0.3			(0.9		)
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	—			—			(0.1		)	—			(0.1		)
NET INCREASE IN CASH AND CASH EQUIVALENTS	—			7.9			(5.3		)	—			2.6
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	—			7.0			15.6			—			22.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	—		$	14.9		$	10.3		$	—		$	25.2