Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Condensed Consolidating Statements of Operations




	13 Weeks Ended June 30, 2015
	Parent		Subsidiary			Subsidiary			Subsidiary
	Guarantor: Holdings		Issuer: NPC			Co-Issuer: NPCQB			Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Total sales	$	—	$	253,911		$	52,325		$	—	$	—		$	306,236
Total costs and expenses	—		247,557			49,328			—		—			296,885
Operating income	—		6,354			2,997			—		—			9,351
Interest expense	—		10,492			—			—		—			10,492
Equity in net income of subsidiary	72		3,643			—			—		(3,715		)	—
Income (loss) before income taxes	72		(495		)	2,997			—		(3,715		)	(1,141		)
Income tax benefit	—		(567		)	(646		)	—		—			(1,213		)
Net income	$	72	$	72		$	3,643		$	—	$	(3,715	)	$	72




	13 Weeks Ended July 1, 2014
	Parent			Subsidiary			Subsidiary		Subsidiary
	Guarantor: Holdings			Issuer: NPC			Co-Issuer: NPCQB		Co-Issuer: NPC Op Co B		Eliminations		Consolidated
Total sales	$	—		$	252,847		$	33,059	$	—	$	—	$	285,906
Total costs and expenses	—			247,780			31,823		—		—		279,603
Operating income	—			5,067			1,236		—		—		6,303
Interest expense	—			10,042			—		—		—		10,042
Equity (deficit) in net income of subsidiary	(1,374		)	797			—		—		577		—
(Loss) income before income taxes	(1,374		)	(4,178		)	1,236		—		577		(3,739		)
Income tax (benefit) expense	—			(2,804		)	439		—		—		(2,365		)
Net (loss) income	$	(1,374	)	$	(1,374	)	$	797	$	—	$	577	$	(1,374	)




	26 Weeks Ended June 30, 2015
	Parent		Subsidiary			Subsidiary			Subsidiary
	Guarantor: Holdings		Issuer: NPC			Co-Issuer: NPCQB			Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Total sales	$	—	$	514,478		$	100,966		$	—	$	—		$	615,444
Total costs and expenses	—		493,409			96,497			—		—			589,906
Operating income	—		21,069			4,469			—		—			25,538
Interest expense	—		20,957			—			—		—			20,957
Equity in net income of subsidiary	5,047		4,923			—			—		(9,970		)	—
Income before income taxes	5,047		5,035			4,469			—		(9,970		)	4,581
Income tax benefit	—		(12		)	(454		)	—		—			(466		)
Net income	$	5,047	$	5,047		$	4,923		$	—	$	(9,970	)	$	5,047




	26 Weeks Ended July 1, 2014
	Parent		Subsidiary			Subsidiary		Subsidiary
	Guarantor: Holdings		Issuer: NPC			Co-Issuer: NPCQB		Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Total sales	$	—	$	519,215		$	62,944	$	—	$	—		$	582,159
Total costs and expenses	—		499,750			61,709		—		—			561,459
Operating income	—		19,465			1,235		—		—			20,700
Interest expense	—		20,204			—		—		—			20,204
Equity in net income of subsidiary	1,582		788			—		—		(2,370		)	—
Income before income taxes	1,582		49			1,235		—		(2,370		)	496
Income tax (benefit) expense	—		(1,533		)	447		—		—			(1,086		)
Net income	$	1,582	$	1,582		$	788	$	—	$	(2,370	)	$	1,582



	June 30, 2015
	Parent		Subsidiary		Subsidiary			Subsidiary
	Guarantor: Holdings		Issuer: NPC		Co-Issuer: NPCQB			Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Assets:
Current assets	$	—	$	65,310	$	9,285		$	—	$	—		$	74,595
Facilities and equipment, net	—		160,809		37,595			—		—			198,404
Franchise rights, net	—		584,885		44,885			—		—			629,770
Goodwill	—		290,502		4,124			—		—			294,626
Investment in subsidiary	272,072		75,112		—			—		(347,184		)	—
Other assets, net	—		37,577		1,821			—		—			39,398
Total assets	$	272,072	$	1,214,195	$	97,710		$	—	$	(347,184	)	$	1,236,793
Liabilities and member’s equity:
Current liabilities	$	—	$	89,838	$	20,664		$	—	$	—		$	110,502
Long-term debt	—		588,144		—			—		—			588,144
Other liabilities and deferred items	—		54,943		5,567			—		—			60,510
Deferred income taxes	—		209,198		(3,633		)	—		—			205,565
Member’s equity	272,072		272,072		75,112			—		(347,184		)	272,072
Total liabilities and member’s equity	$	272,072	$	1,214,195	$	97,710		$	—	$	(347,184	)	$	1,236,793



	December 30, 2014
	Parent		Subsidiary		Subsidiary		Subsidiary
	Guarantor: Holdings		Issuer: NPC		Co-Issuer: NPCQB		Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Assets:
Current assets	$	—	$	51,700	$	10,210	$	—	$	—		$	61,910
Facilities and equipment, net	—		162,248		35,874		—		—			198,122
Franchise rights, net	—		592,633		46,412		—		—			639,045
Goodwill	—		290,502		4,124		—		—			294,626
Investment in subsidiary	267,025		75,902		—		—		(342,927		)	—
Other assets, net	—		40,794		1,858		—		—			42,652
Total assets	$	267,025	$	1,213,779	$	98,478	$	—	$	(342,927	)	$	1,236,355
Liabilities and member’s equity:
Current liabilities	$	—	$	90,701	$	16,440	$	—	$	—		$	107,141
Long-term debt	—		591,263		—		—		—			591,263
Other liabilities and deferred items	—		55,467		4,736		—		—			60,203
Deferred income taxes	—		209,323		1,400		—		—			210,723
Member’s equity	267,025		267,025		75,902		—		(342,927		)	267,025
Total liabilities and member’s equity	$	267,025	$	1,213,779	$	98,478	$	—	$	(342,927	)	$	1,236,355



	26 Weeks Ended June 30, 2015
	Parent		Subsidiary			Subsidiary			Subsidiary
	Guarantor: Holdings		Issuer: NPC			Co-Issuer: NPCQB			Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Operating activities:
Net cash flows provided by operating activities	$	—	$	37,079		$	11,970		$	—	$	—		$	49,049
Investing activities:
Capital expenditures	—		(20,214		)	(6,252		)	—		—			(26,466		)
Return of investment in NPCQB	—		5,713			—			—		(5,713		)	—
Proceeds from sale-leaseback transactions	—		1,408			—			—		—			1,408
Proceeds from sale or disposition of assets	—		499			49			—		—			548
Net cash flows used in investing activities	—		(12,594		)	(6,203		)	—		(5,713		)	(24,510		)
Financing activities:
Net payments on debt	—		(3,119		)	—			—		—			(3,119		)
Distribution to parent	—		—			(5,713		)	—		5,713			—
Net cash flows used in financing activities	—		(3,119		)	(5,713		)	—		5,713			(3,119		)
Net change in cash and cash equivalents	—		21,366			54			—		—			21,420
Beginning cash and cash equivalents	—		11,278			785			—		—			12,063
Ending cash and cash equivalents	$	—	$	32,644		$	839		$	—	$	—		$	33,483



	26 Weeks Ended July 1, 2014
	Parent		Subsidiary			Subsidiary			Subsidiary
	Guarantor: Holdings		Issuer: NPC			Co-Issuer: NPCQB			Co-Issuer: NPC Op Co B		Eliminations			Consolidated
Operating activities:
Net cash flows provided by operating activities	$	—	$	31,824		$	9,459		$	—	$	—		$	41,283
Investing activities:
Capital expenditures	—		(32,895		)	(2,210		)	—		—			(35,105		)
Return of investment in NPCQB	—		7,622			—			—		(7,622		)	—
Proceeds from sale or disposition of assets	—		2,351			22			—		—			2,373
Net cash flows used in investing activities	—		(22,922		)	(2,188		)	—		(7,622		)	(32,732		)
Financing activities:
Payment of accrued purchase price to sellers	—		(10,875		)	—			—		—			(10,875		)
Net payments on debt	—		(8,665		)	—			—		—			(8,665		)
Issuance of debt	—		40,000			—			—		—			40,000
Distribution to parent	—		—			(7,622		)	—		7,622			—
Other	—		(753		)	—			—		—			(753		)
Net cash flows provided by (used in) financing activities	—		19,707			(7,622		)	—		7,622			19,707
Net change in cash and cash equivalents	—		28,609			(351		)	—		—			28,258
Beginning cash and cash equivalents	—		19,170			865			—		—			20,035
Ending cash and cash equivalents	$	—	$	47,779		$	514		$	—	$	—		$	48,293