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Business Combinations (Tables)
 8 Months Ended
Sep. 12, 2015
Business Combinations [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed, net of cash acquired, related to the acquisition (in thousands):
 
 
FCC Environmental
 
 
 
Accounts receivable
 
$
20,430

Inventory
 
7,899

Other current assets
 
6,683

Deferred taxes
 
1,748

Property, plant, & equipment (a)(c)
 
49,752

Equipment at customers
 
420

Intangible assets
 
9,808

Goodwill(b)(c)
 
13,168

Accounts payable
 
(12,453
)
Accrued salaries, wages, and benefits
 
(2,039
)
Taxes payable
 
(2,209
)
Other current liabilities
 
(1,378
)
Capital lease obligations (a)
 
(5,918
)
Net cash paid
 
$
85,911

______________
(a) Subsequent to the closing date, the Company modified the leases acquired from FCC Environmental, resulting in the classification of the leases as Operating leases under the new lease terms. The change in lease terms decreased both Property, plant, & equipment and Capital lease obligations by $5.9 million.
(b) Goodwill recognized from the acquisition of FCC Environmental represents the excess of the fair value of the net assets acquired over the purchase price, and is based upon the Company's expectations of synergies from combining the operations of FCC Environmental and the Company, and the value of intangible assets that are not separately recognized, such as the assembled workforce. Goodwill of $7.1 million and $6.1 million were assigned to the Environmental Services and Oil Business segments, respectively. All goodwill is expected to be deductible for income tax purposes.
(c) The Company has retrospectively adjusted amounts that were recognized at the acquisition date to reflect new information about the facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. These adjustments are related to the Company's valuation of accounts receivable, other current assets, property, plant and equipment, and goodwill acquired. Such adjustments resulted in a net decrease of $1.6 million in accounts receivable, a net decrease of $0.1 million in other current assets, a net decrease of $2.0 million in property, plant and equipment and a net increase of $3.6 million in goodwill. The Company's balance sheet as of January 3, 2015 has been retrospectively restated to reflect these adjustments.
Business Acquisition, Pro Forma Information
The pro forma information is shown for illustrative purposes only and is not necessarily indicative of future results of operations of the Company or results of operations of the Company that would have actually occurred had the transactions been in effect for the period presented.
 
 
Third Quarter Ended,
 
First Three Quarters Ended,
 
 
September 6, 2014
 
September 6, 2014
Total revenues
 
$
107,256

 
$
321,163

Net income (loss)
 
588

 
(2,191
)
Income (loss) per share
 
 
 
 
     Basic
 
$
0.03

 
$
(0.12
)
     Diluted
 
0.03

 
(0.12
)