Senior Notes' Guarantor and Non-Guarantor Financial Information (Tables) - Summit Materials, LLC

12 Months Ended

Dec. 28, 2019

Condensed Financial Statements, Captions [Line Items]

December 28, 2019



			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	302,474	$	5,488	$	9,834	$	(6,477	)	$	311,319
Accounts receivable, net	—		234,053		19,236		(33		)	253,256
Intercompany receivables	443,323		942,385		—		(1,385,708		)	—
Cost and estimated earnings in excess of billings	—		12,291		797		—			13,088
Inventories	—		199,794		4,993		—			204,787
Other current assets	1,763		10,308		1,760		—			13,831
Total current assets	747,560		1,404,319		36,620		(1,392,218		)	796,281
Property, plant and equipment, net	11,602		1,674,443		61,404		—			1,747,449
Goodwill	—		1,142,063		58,636		—			1,200,699
Intangible assets, net	—		23,498		—		—			23,498
Operating lease right-of-use assets	3,316		24,551		4,910		—			32,777
Other assets	3,596,161		168,314		734		(3,709,690		)	55,519
Total assets	$	4,358,639	$	4,437,188	$	162,304	$	(5,101,908	)	$	3,856,223
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt	$	7,942	$	—	$	—	$	—		$	7,942
Current portion of acquisition-related liabilities	—		30,200		—		—			30,200
Accounts payable	4,588		103,812		8,603		(33		)	116,970
Accrued expenses	51,043		72,970		2,701		(6,477		)	120,237
Current operating lease liabilities	764		6,571		1,092		—			8,427
Intercompany payables	922,356		447,827		15,525		(1,385,708		)	—
Billings in excess of costs and estimated earnings	—		12,183		1,681		—			13,864
Total current liabilities	986,693		673,563		29,602		(1,392,218		)	297,640
Long-term debt	1,851,057		—		—		—			1,851,057
Acquisition-related liabilities	—		17,666		—		—			17,666
Noncurrent operating lease liabilities	3,480		18,047		3,854		—			25,381
Other noncurrent liabilities	4,259		203,919		80,169		(137,018		)	151,329
Total liabilities	2,845,489		913,195		113,625		(1,529,236		)	2,343,073
Total member's interest	1,513,150		3,523,993		48,679		(3,572,672		)	1,513,150
Total liabilities and member’s interest	$	4,358,639	$	4,437,188	$	162,304	$	(5,101,908	)	$	3,856,223

Condensed Consolidating Balance Sheets

December 29, 2018



			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	117,219	$	8,440	$	7,719	$	(4,870	)	$	128,508
Accounts receivable, net	—		199,538		15,165		(185		)	214,518
Intercompany receivables	500,765		624,427		—		(1,125,192		)	—
Cost and estimated earnings in excess of billings	—		17,711		891		—			18,602
Inventories	—		210,149		3,702		—			213,851
Other current assets	1,953		11,308		2,800		—			16,061
Total current assets	619,937		1,071,573		30,277		(1,130,247		)	591,540
Property, plant and equipment, net	13,300		1,709,083		57,749		—			1,780,132
Goodwill	—		1,136,785		56,243		—			1,193,028
Intangible assets, net	—		18,460		—		—			18,460
Other assets	3,292,851		154,080		947		(3,397,794		)	50,084
Total assets	$	3,926,088	$	4,089,981	$	145,216	$	(4,528,041	)	$	3,633,244
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt	$	6,354	$	—	$	—	$	—		$	6,354
Current portion of acquisition-related liabilities	—		31,770		—		—			31,770
Accounts payable	4,712		92,132		12,349		(185		)	109,008
Accrued expenses	45,146		57,826		1,927		(4,870		)	100,029
Intercompany payables	673,175		436,564		15,453		(1,125,192		)	—
Billings in excess of costs and estimated earnings	—		11,347		493		—			11,840
Total current liabilities	729,387		629,639		30,222		(1,130,247		)	259,001
Long-term debt	1,807,502		—		—		—			1,807,502
Acquisition-related liabilities	—		45,354		—		—			45,354
Other noncurrent liabilities	3,768		226,137		77,368		(171,317		)	135,956
Total liabilities	2,540,657		901,130		107,590		(1,301,564		)	2,247,813
Total member's interest	1,385,431		3,188,851		37,626		(3,226,477		)	1,385,431
Total liabilities and member’s interest	$	3,926,088	$	4,089,981	$	145,216	$	(4,528,041	)	$	3,633,244

Condensed Consolidating Statements of Operations and Comprehensive Loss

Condensed Consolidating Statements of Operations and Comprehensive Income

Year Ended December 28, 2019



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	2,139,457		$	94,879		$	(12,196	)	$	2,222,140
Cost of revenue (excluding items shown separately below)	—			1,473,124			65,404			(12,196		)	1,526,332
General and administrative expenses	58,099			195,683			11,366			—			265,148
Depreciation, depletion, amortization and accretion	3,997			207,277			5,828			—			217,102
Operating (loss) income	(62,096		)	263,373			12,281			—			213,558
Other (income) loss, net	(279,517		)	(8,767		)	(790		)	291,662			2,588
Interest expense (income)	127,734			(16,561		)	4,815			—			115,988
Income from operation before taxes	89,687			288,701			8,256			(291,662		)	94,982
Income tax expense	1,090			3,377			1,918			—			6,385
Net income attributable to Summit LLC	$	88,597		$	285,324		$	6,338		$	(291,662	)	$	88,597
Comprehensive income attributable to member of Summit Materials, LLC	$	91,242		$	287,395		$	1,622		$	(289,017	)	$	91,242

Condensed Consolidating Statements of Operations and Comprehensive Income

Year ended December 29, 2018



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors		Eliminations			Consolidated
Revenue	$	—		$	2,018,428		$	88,658	$	(6,084	)	$	2,101,002
Cost of revenue (excluding items shown separately below)	—			1,416,222			65,641		(6,084		)	1,475,779
General and administrative expenses	62,376			184,917			10,554		—			257,847
Depreciation, depletion, amortization and accretion	2,622			197,406			4,882		—			204,910
Operating (loss) income	(64,998		)	219,883			7,581		—			162,466
Other (income) loss, net	(249,204		)	(14,643		)	823		247,657			(15,367		)
Interest expense (income)	118,857			(7,818		)	4,792		—			115,831
Gain on sale of business	—			(12,108		)	—		—			(12,108		)
Income from operation before taxes	65,349			254,452			1,966		(247,657		)	74,110
Income tax expense	1,512			8,226			535		—			10,273
Net income attributable to Summit LLC	$	63,837		$	246,226		$	1,431	$	(247,657	)	$	63,837
Comprehensive income attributable to member of Summit Materials, LLC	$	57,356		$	243,359		$	10,779	$	(254,138	)	$	57,356

Condensed Consolidating Statements of Operations and Comprehensive Income

Year ended December 30, 2017



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	1,854,434		$	84,020		$	(5,879	)	$	1,932,575
Cost of revenue (excluding items shown separately below)	—			1,227,037			60,619			(5,879		)	1,281,777
General and administrative expenses	63,954			178,023			8,426			—			250,403
Depreciation, depletion, amortization and accretion	2,601			172,738			4,179			—			179,518
Operating (loss) income	(66,555		)	276,636			10,796			—			220,877
Other (income) loss, net	(307,876		)	(1,925		)	(533		)	309,860			(474		)
Interest expense	105,735			(2,415		)	4,335			—			107,655
Income from continuing operations before taxes	135,586			280,976			6,994			(309,860		)	113,696
Income tax (benefit) expense	1,518			(23,774		)	1,911			—			(20,345		)
Net income	134,068			304,750			5,083			(309,860		)	134,041
Net income attributable to noncontrolling interest	—			—			—			(27		)	(27		)
Net income attributable to member of Summit Materials, LLC	$	134,068		$	304,750		$	5,083		$	(309,833	)	$	134,068
Comprehensive income attributable to member of Summit Materials, LLC	$	144,377		$	302,209		$	(2,685	)	$	(299,524	)	$	144,377

Condensed Consolidating Statements of Cash Flows

For the year ended December 28, 2019



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(112,019	)	$	431,323		$	17,880		$	—		$	337,184
Cash flow from investing activities:
Acquisitions, net of cash acquired	—			(5,392		)	—			—			(5,392		)
Purchase of property, plant and equipment	(2,513		)	(163,652		)	(11,330		)	—			(177,495		)
Proceeds from the sale of property, plant, and equipment	—			21,083			90			—			21,173
Other	—			(1,095		)	—			—			(1,095		)
Net cash used for investing activities	(2,513		)	(149,056		)	(11,240		)	—			(162,809		)
Cash flow from financing activities:
Proceeds from investment by member	(21,614		)	40,690			—			—			19,076
Net proceeds from debt issuance	300,000			—			—			—			300,000
Loans received from and payments made on loans from other Summit Companies	287,029			(280,836		)	(4,586		)	(1,607		)	—
Payments on long-term debt	(256,354		)	(13,650		)	(225		)	—			(270,229		)
Payments on acquisition-related liabilities	—			(31,383		)	—			—			(31,383		)
Debt issuance costs	(6,312		)	—			—			—			(6,312		)
Distributions from partnership	(2,500		)	—			—			—			(2,500		)
Other	(462		)	(40		)	—			—			(502		)
Net cash provided by (used in) financing activities	299,787			(285,219		)	(4,811		)	(1,607		)	8,150
Impact of cash on foreign currency	—			—			286			—			286
Net increase (decrease) in cash	185,255			(2,952		)	2,115			(1,607		)	182,811
Cash — Beginning of period	117,219			8,440			7,719			(4,870		)	128,508
Cash — End of period	$	302,474		$	5,488		$	9,834		$	(6,477	)	$	311,319

Condensed Consolidating Statements of Cash Flows

For the year ended December 29, 2018



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(142,315	)	$	340,401		$	11,282		$	—		$	209,368
Cash flow from investing activities:
Acquisitions, net of cash acquired	—			(246,017		)	—			—			(246,017		)
Purchase of property, plant and equipment	(7,607		)	(188,435		)	(24,643		)	—			(220,685		)
Proceeds from the sale of property, plant, and equipment	—			21,263			372			—			21,635
Proceeds from the sale of a business	—			21,564			—			—			21,564
Other	—			3,804			—			—			3,804
Net cash used for investing activities	(7,607		)	(387,821		)	(24,271		)	—			(419,699		)
Cash flow from financing activities:
Proceeds from investment by member	(146,533		)	162,148			—			—			15,615
Net proceeds from debt issuance	64,500			—			—			—			64,500
Loans received from and payments made on loans from other Summit Companies	51,696			(65,845		)	6,647			7,502			—
Payments on long-term debt	(69,265		)	(15,662		)	(115		)	—			(85,042		)
Payments on acquisition-related liabilities	—			(34,004		)	—			—			(34,004		)
Financing costs	(550		)	—			—			—			(550		)
Distributions from partnership	(2,569		)	—			—			—			(2,569		)
Other	(879		)	(1,031		)	(33		)	—			(1,943		)
Net cash (used in) provided by financing activities	(103,600		)	45,606			6,499			7,502			(43,993		)
Impact of cash on foreign currency	—			—			(724		)	—			(724		)
Net decrease in cash	(253,522		)	(1,814		)	(7,214		)	7,502			(255,048		)
Cash — Beginning of period	370,741			10,254			14,933			(12,372		)	383,556
Cash — End of period	$	117,219		$	8,440		$	7,719		$	(4,870	)	$	128,508

Condensed Consolidating Statements of Cash Flows

For the year ended December 30, 2017



				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(127,102	)	$	392,316		$	29,918		$	—		$	295,132
Cash flow from investing activities:
Acquisitions, net of cash acquired	(24,538		)	(324,892		)	(25,500		)	—			(374,930		)
Purchase of property, plant and equipment	(6,196		)	(182,295		)	(5,655		)	—			(194,146		)
Proceeds from the sale of property, plant, and equipment	—			16,822			250			—			17,072
Other	—			(471		)	—			—			(471		)
Net cash used for investing activities	(30,734		)	(490,836		)	(30,905		)	—			(552,475		)
Cash flow from financing activities:
Proceeds from investment by member	40,913			252,911			10,717			—			304,541
Capital issuance costs	(627		)	—			—			—			(627		)
Net proceeds from debt issuance	302,000			—			—			—			302,000
Loans received from and payments made on loans from other Summit Companies	119,858			(108,026		)	(10,126		)	(1,706		)	—
Payments on long-term debt	(8,463		)	(7,967		)	(8		)	—			(16,438		)
Purchase of noncontrolling interests	—			(532		)	—			—			(532		)
Payments on acquisition-related liabilities	—			(32,150		)	—			—			(32,150		)
Financing costs	(6,416		)	—			—			—			(6,416		)
Distributions from partnership	(51,986		)	—			—			—			(51,986		)
Other	(564		)	(282		)	(20		)	—			(866		)
Net cash provided by financing activities	394,715			103,954			563			(1,706		)	497,526
Impact of cash on foreign currency	—			—			701			—			701
Net (decrease) increase in cash	236,879			5,434			277			(1,706		)	240,884
Cash — Beginning of period	133,862			4,820			14,656			(10,666		)	142,672
Cash — End of period	$	370,741		$	10,254		$	14,933		$	(12,372	)	$	383,556