(22) Senior Notes’ Guarantor and Non-Guarantor Financial Information

The Company’s wholly-owned subsidiary companies (“Wholly-owned Guarantors”) and Continental Cement (“Non-wholly-owned Guarantor”), are named as guarantors (collectively, the “Guarantors”) of the Senior Notes. Other non-wholly-owned subsidiaries, including a subsidiary of Continental Cement, and entities domiciled outside of the United States do not guarantee the Senior Notes (collectively, the “Non-Guarantors”). Summit Materials and Finance Corp. (collectively, the “Issuers”) were co-issuers of the Senior Notes. The Guarantors provide a joint and several, full and unconditional guarantee of the Senior Notes. There are no significant restrictions on the Company’s ability to obtain funds from any of the Guarantor Subsidiaries in the form of a dividend or loan. Additionally, there are no significant restrictions on a Guarantor Subsidiary’s ability to obtain funds from the Company or its direct or indirect subsidiaries.

The following condensed consolidating balance sheets, statements of operations and cash flows are provided for the Issuers, the Non-wholly-owned Guarantor, the Wholly-owned Guarantors and the Non-Guarantors. Earnings from subsidiaries are included in other income in the condensed consolidated statements of operations below. The financial information may not necessarily be indicative of financial position, results of operations or cash flows had the guarantor or non-guarantor subsidiaries operated as independent entities.

Condensed Consolidating Balance Sheets

December 27, 2014


	Issuers		Non- wholly- owned Guarantor		Wholly- owned Guarantors		Non- Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash	$	10,837	$	2	$	695	$	8,793	$	(7,112	)	$	13,215
Accounts receivable, net		1		6,629		124,380		11,525		(1,233	)		141,302
Intercompany receivables		376,344		4,095		30,539		4,052		(415,030	)		—
Cost and estimated earnings in excess of billings		—		—		9,819		355		—			10,174
Inventories		—		8,696		98,188		4,669		—			111,553
Other current assets		7,148		464		9,638		1,775		(1,853	)		17,172

Total current assets		394,330		19,886		273,259		31,169		(425,228	)		293,416
Property, plant and equipment, net		7,035		302,524		610,717		30,325		—			950,601
Goodwill		—		23,124		340,969		55,177		—			419,270
Intangible assets, net		—		542		14,245		2,860		—			17,647
Other assets		1,153,204		25,233		125,462		1,362		(1,256,418	)		48,843

Total assets	$	1,554,569	$	371,309	$	1,364,652	$	120,893	$	(1,681,646	)	$	1,729,777

Liabilities, Redeemable Noncontrolling Interest and Member’s Interest
Current liabilities:
Current portion of debt	$	5,275	$	1,273	$	3,990	$	—	$	(5,263	)	$	5,275
Current portion of acquisition-related liabilities		166		—		18,236		—		—			18,402
Accounts payable		3,655		6,845		65,018		4,569		(1,233	)		78,854
Accrued expenses		37,101		10,178		59,477		3,705		(8,965	)		101,496
Intercompany payables		162,728		4,052		245,416		2,834		(415,030	)		—
Billings in excess of costs and estimated earnings		—		—		8,931		27		—			8,958

Total current liabilities		208,925		22,348		401,068		11,135		(430,491	)		212,985
Long-term debt		1,059,642		153,318		480,599		—		(633,917	)		1,059,642
Acquisition-related liabilities		—		—		42,736		—		—			42,736
Other noncurrent liabilities		796		24,787		65,479		57,736		(55,107	)		93,691

Total liabilities		1,269,363		200,453		989,882		68,871		(1,119,515	)		1,409,054
Redeemable noncontrolling interest		—		—		—		—		33,740			33,740
Redeemable members’ interest		—		34,543		—		—		(34,543	)		—
Total member’s interest		285,206		136,313		374,770		52,022		(561,328	)		286,983

Total liabilities, redeemable noncontrolling interest and member’s interest	$	1,554,569	$	371,309	$	1,364,652	$	120,893	$	(1,681,646	)	$	1,729,777

Condensed Consolidating Balance Sheets

December 28, 2013


	Issuers		Non- wholly- owned Guarantor		Wholly- owned Guarantors		Non- Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash	$	10,375	$	9	$	3,442	$	3,631	$	(2,540	)	$	14,917
Accounts receivable, net		—		4,587		93,102		3,100		(1,452	)		99,337
Intercompany receivables		38,134		3,433		30,787		—		(72,354	)		—
Cost and estimated earnings in excess of billings		—		—		10,539		228		—			10,767
Inventories		—		10,402		85,372		658		—			96,432
Other current assets		750		444		11,715		272		—			13,181

Total current assets		49,259		18,875		234,957		7,889		(76,346	)		234,634
Property, plant and equipment, net		3,969		301,908		518,935		6,966		—			831,778
Goodwill		—		23,124		102,942		972		—			127,038
Intangible assets, net		—		642		14,505		—		—			15,147
Other assets		296,494		17,973		37,535		1,303		(314,108	)		39,197

Total assets	$	349,722	$	362,522	$	908,874	$	17,130	$	(390,454	)	$	1,247,794

Liabilities, Redeemable Noncontrolling Interest and Member’s Interest
Current liabilities:
Current portion of debt	$	26,010	$	1,018	$	3,192	$	—	$	—		$	30,220
Current portion of acquisition-related liabilities		2,000		—		8,635		—		—			10,635
Accounts payable		5,455		9,387		57,142		1,572		(1,452	)		72,104
Accrued expenses		12,041		9,185		37,342		1,223		(2,540	)		57,251
Intercompany payables		—		—		71,556		798		(72,354	)		—
Billings in excess of costs and estimated earnings		—		—		8,837		426		—			9,263

Total current liabilities		45,506		19,590		186,704		4,019		(76,346	)		179,473
Long-term debt		19,587		154,590		484,590		—		—			658,767
Acquisition-related liabilities		85		—		23,671		—		—			23,756
Other noncurrent liabilities		959		20,306		56,215		—		—			77,480

Total liabilities		66,137		194,486		751,180		4,019		(76,346	)		939,476
Redeemable noncontrolling interest		—		—		—		—		24,767			24,767
Redeemable members’ interest		—		23,450		—		—		(23,450	)		—
Total member’s interest		283,585		144,586		157,694		13,111		(315,425	)		283,551

Total liabilities, redeemable noncontrolling interest and member’s interest	$	349,722	$	362,522	$	908,874	$	17,130	$	(390,454	)	$	1,247,794

Condensed Consolidating Statements of Operations and Comprehensive Loss

Year ended December 27, 2014


	Issuers			Non-wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors			Eliminations			Consolidated

Total revenue	$	—		$	94,402		$	1,065,590		$	72,172		$	(27,933	)	$	1,204,231


Cost of revenue (excluding items shown separately below)		—			67,951			796,078			51,064			(27,933	)		887,160
General and administrative expenses		30,736			6,763			119,250			2,537			—			159,286
Depreciation, depletion, amortization and accretion		1,468			14,500			70,116			1,742			—			87,826

Operating (loss) income		(32,204	)		5,188			80,146			16,829			—			69,959
Other (income) expense, net		(53,827	)		(14,444	)		(6,687	)		(3	)		71,514			(3,447	)
Interest expense		31,827			11,608			51,248			1,172			(9,113	)		86,742

(Loss) income from continuing operations before taxes		(10,204	)		8,024			35,585			15,660			(62,401	)		(13,336	)
Income tax benefit		(1,427	)		—			(5,766	)		210			—			(6,983	)

(Loss) income from continuing operations		(8,777	)		8,024			41,351			15,450			(62,401	)		(6,353	)
Income from discontinued operations		—			—			(71	)		—			—			(71	)

Net (loss) income		(8,777	)		8,024			41,422			15,450			(62,401	)		(6,282	)
Net loss attributable to noncontrolling interest		—			—			—			—			2,495			2,495

Net (loss) income attributable to member of Summit Materials, LLC	$	(8,777	)	$	8,024		$	41,422		$	15,450		$	(64,896	)	$	(8,777	)

Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(18,278	)	$	2,759		$	41,422		$	9,634		$	(53,815	)	$	(18,278	)

Condensed Consolidating Statements of Operations and Comprehensive Loss

Year ended December 28, 2013


	Summit Materials LLC (Parent)			Non- wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors		Eliminations			Consolidated

Total revenue	$	—		$	80,759		$	807,921		$	41,910	$	(14,389	)	$	916,201


Cost of revenue (excluding items shown separately below)		—			55,241			611,799			24,401		(14,389	)		677,052
General and administrative expenses		7,241			7,673			129,768			1,308		—			145,990
Goodwill impairment		—			—			68,202			—		—			68,202
Depreciation, depletion, amortization and accretion		465			11,378			60,078			1,013		—			72,934

Operating (loss) income		(7,706	)		6,467			(61,926	)		15,188		—			(47,977	)
Other expense (income), net		99,085			(3,737	)		(3,410	)		274		(90,834	)		1,378
Interest expense		—			10,702			49,591			382		(4,232	)		56,443

(Loss) income from continuing operations before taxes		(106,791	)		(498	)		(108,107	)		14,532		95,066			(105,798	)
Income tax expense		—			—			(2,647	)		—		—			(2,647	)

(Loss) income from continuing operations		(106,791	)		(498	)		(105,460	)		14,532		95,066			(103,151	)
Loss from discontinued operations		—			—			528			—		—			528

Net (loss) income		(106,791	)		(498	)		(105,988	)		14,532		95,066			(103,679	)
Net income attributable to noncontrolling interest		—			—			—			—		3,112			3,112

Net (loss) income attributable to member of Summit Materials, LLC	$	(106,791	)	$	(498	)	$	(105,988	)	$	14,532	$	91,954		$	(106,791	)


Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(106,791	)	$	3,909		$	(105,988	)	$	14,532	$	90,632		$	(103,706	)

Condensed Consolidating Statements of Operations and Comprehensive Loss

Year ended December 29, 2012


	Summit Materials LLC (Parent)			Non- wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors			Eliminations			Consolidated

Total revenue	$	—		$	81,516		$	824,796		$	33,074		$	(13,132	)	$	926,254


Cost of revenue (excluding items shown separately below)		—			58,319			649,577			18,582			(13,132	)		713,346
General and administrative expenses		8			6,235			121,633			1,327			—			129,203
Depreciation, depletion, amortization and accretion		81			10,093			57,080			1,036			—			68,290

Operating (loss) income		(89	)		6,869			(3,494	)		12,129			—			15,415
Other expense (income), net		52,400			(2,065	)		6,630			(101	)		(48,577	)		8,287
Interest expense		—			12,045			47,293			633			(1,892	)		58,079

(Loss) income from continuing operations before taxes		(52,489	)		(3,111	)		(57,417	)		11,597			50,469			(50,951	)
Income tax expense		5			—			(3,925	)		—			—			(3,920	)

(Loss) income from continuing operations		(52,494	)		(3,111	)		(53,492	)		11,597			50,469			(47,031	)
Loss from discontinued operations		—			—			3,546			—			—			3,546

Net (loss) income		(52,494	)		(3,111	)		(57,038	)		11,597			50,469			(50,577	)
Net income attributable to noncontrolling interest		—			—			—			—			1,919			1,919

Net (loss) income attributable to member of Summit Materials, LLC	$	(52,494	)	$	(3,111	)	$	(57,038	)	$	11,597		$	48,550		$	(52,496	)


Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(52,494	)	$	(6,759	)	$	(57,038	)	$	11,597		$	49,645		$	(55,049	)

Condensed Consolidating Statements of Cash Flows

For the year ended December 27, 2014


	Issuers			Non- wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors			Eliminations			Consolidated

Net cash (used in) provided by operating activities	$	(40,964	)	$	11,776		$	102,219		$	8,058		$	(2,000	)	$	79,089


Cash flow from investing activities:
Acquisitions, net of cash acquired		(181,754	)		—			(216,100	)		—			—			(397,854	)
Purchase of property, plant and equipment		(4,534	)		(14,941	)		(55,222	)		(1,465	)		—			(76,162	)
Proceeds from the sale of property, plant, and equipment		—			—			13,134			232			—			13,366
Other		—			(1,387	)		(597	)		—			1,354			(630	)

Net cash used for investing activities		(186,288	)		(16,328	)		(258,785	)		(1,233	)		1,354			(461,280	)


Cash flow from financing activities:
Proceeds from investment by member		27,617			—			—			1,354			(1,354	)		27,617
Net proceeds from debt issuance		762,250			—			—			—			—			762,250
Loans received from and payments made on loans from other Summit Companies		(170,915	)		5,338			173,166			(3,017	)		(4,572	)		—
Payments on long-term debt		(380,065	)		(793	)		(8,412	)		—			—			(389,270	)
Payments on acquisition-related liabilities		(2,000	)		—			(8,935	)		—			—			(10,935	)
Financing costs		(9,085	)		—			—			—			—			(9,085	)
Other		(88	)		—			(2,000	)		—			2,000			(88	)

Net cash provided by (used for) financing activities		227,714			4,545			153,819			(1,663	)		(3,926	)		380,489


Net increase (decrease) in cash		462			(7	)		(2,747	)		5,162			(4,572	)		(1,702	)

Cash — Beginning of period		10,375			9			3,442			3,631			(2,540	)		14,917

Cash— End of period	$	10,837		$	2		$	695		$	8,793		$	(7,112	)	$	13,215

Condensed Consolidating Statements of Cash Flows

For the year ended December 28, 2013


	Summit Materials, LLC (Parent)			Non- wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors			Eliminations			Consolidated

Net cash (used for) provided by operating activities	$	(232	)	$	9,003		$	44,746		$	12,895		$	—		$	66,412


Cash flow from investing activities:
Acquisitions, net of cash acquired		—			—			(61,601	)		—			—			(61,601	)
Purchase of property, plant and equipment		(3,359	)		(24,896	)		(36,629	)		(1,115	)		—			(65,999	)
Proceeds from the sale of property, plant, and equipment		—			3			16,020			62			—			16,085

Net cash used for investing activities		(3,359	)		(24,893	)		(82,210	)		(1,053	)		—			(111,515	)


Cash flow from financing activities
Net proceeds from debt issuance		234,681			—			—			—			—			234,681
Loans received from and payments made on loans from other Summit Companies		(29,121	)		15,502			19,726			(8,891	)		2,784			—
Payments on long-term debt		(188,424	)		—			—			—			—			(188,424	)
Payments on acquisition-related liabilities		—			—			(9,801	)		—			—			(9,801	)
Financing costs		(3,864	)														(3,864	)
Other		(3	)		—			—			—			—			(3	)

Net cash provided by (used for) financing activities		13,269			15,502			9,925			(8,891	)		2,784			32,589


Net decrease (increase) in cash		9,678			(388	)		(27,539	)		2,951			2,784			(12,514	)

Cash — Beginning of period		697			397			30,981			680			(5,324	)		27,431

Cash— End of period	$	10,375		$	9		$	3,442		$	3,631		$	(2,540	)	$	14,917

Condensed Consolidating Statements of Cash Flows

For the year ended December 29, 2012


	Summit Materials, LLC (Parent)			Non- wholly- owned Guarantor			Wholly- owned Guarantors			Non- Guarantors			Eliminations			Consolidated

Net cash provided by operating activities	$	4,845		$	12,806		$	36,649		$	8,217		$	(238	)	$	62,279


Cash flow from investing activities:
Acquisitions, net of cash acquired		—			—			(48,757	)		—			—			(48,757	)
Purchase of property, plant and equipment		(762	)		(12,174	)		(31,818	)		(734	)		—			(45,488	)
Proceeds from the sale of property, plant, and equipment		—			69			8,577			190			—			8,836
Other		—			—			69			—			—			69

Net cash used for investing activities		(762	)		(12,105	)		(71,929	)		(544	)		—			(85,340	)


Cash flow from financing activities
Net proceeds from debt issuance		726,459			(17	)		—			—			—			726,442
Loans received from and payments made on loans from other Summit Companies		(25,371	)		(295	)		39,783			(8,793	)		(5,324	)		—
Payments on long-term debt		(697,438	)		—			—			—			—			(697,438	)
Payments on acquisition-related liabilities		—			—			(7,519	)		—			—			(7,519	)
Financing costs		(13,081	)		—			—			—			—			(13,081	)
Other		(656	)		—			—			(284	)		238			(702	)

Net cash (used for) provided by financing activities		(10,087	)		(312	)		32,264			(9,077	)		(5,086	)		7,702


Net decrease (increase) in cash		(6,004	)		389			(3,016	)		(1,404	)		(5,324	)		(15,359	)

Cash — Beginning of period		6,701			8			33,997			2,084			—			42,790

Cash— End of period	$	697		$	397		$	30,981		$	680		$	(5,324	)	$	27,431