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

9 Months Ended

Sep. 30, 2017

September 30, 2017


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	283,331	$	2,199	$	16,124	$	(14,572)	$	287,082
Accounts receivable, net		—		275,490		20,131		(130)		295,491
Intercompany receivables		592,870		363,129		—		(955,999)		—
Cost and estimated earnings in excess of billings		—		36,998		2,318		—		39,316
Inventories		—		176,310		5,474		—		181,784
Other current assets		1,927		9,006		736		—		11,669
Total current assets		878,128		863,132		44,783		(970,701)		815,342
Property, plant and equipment, net		8,938		1,572,349		38,836		—		1,620,123
Goodwill		—		951,482		61,289		—		1,012,771
Intangible assets, net		—		16,995		—		—		16,995
Other assets		3,756,415		166,889		2,246		(3,875,482)		50,068
Total assets	$	4,643,481	$	3,570,847	$	147,154	$	(4,846,183)	$	3,515,299
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt	$	6,500	$	—	$	—	$	—	$	6,500
Current portion of acquisition-related liabilities		—		22,653		—		—		22,653
Accounts payable		2,295		120,086		12,067		(130)		134,318
Accrued expenses		44,464		97,815		2,795		(14,572)		130,502
Intercompany payables		571,155		381,373		3,471		(955,999)		—
Billings in excess of costs and estimated earnings		—		16,740		1,303		—		18,043
Total current liabilities		624,414		638,667		19,636		(970,701)		312,016
Long-term debt		1,807,064		—		—		—		1,807,064
Acquisition-related liabilities		—		30,644		—		—		30,644
Other noncurrent liabilities		3,344		224,157		75,364		(171,318)		131,547
Total liabilities		2,434,822		893,468		95,000		(1,142,019)		2,281,271
Total member's interest		2,208,659		2,677,379		52,154		(3,704,164)		1,234,028
Total liabilities and member’s interest	$	4,643,481	$	3,570,847	$	147,154	$	(4,846,183)	$	3,515,299

Condensed Consolidating Balance Sheets

December 31, 2016


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	133,862	$	4,820	$	14,656	$	(10,666)	$	142,672
Accounts receivable, net		—		155,389		7,090		(102)		162,377
Intercompany receivables		521,658		321,776		—		(843,434)		—
Cost and estimated earnings in excess of billings		—		6,830		620		—		7,450
Inventories		—		153,374		4,305		—		157,679
Other current assets		1,259		11,012		529		—		12,800
Total current assets		656,779		653,201		27,200		(854,202)		482,978
Property, plant and equipment, net		7,033		1,418,902		20,517		—		1,446,452
Goodwill		—		735,490		46,722		—		782,212
Intangible assets, net		—		17,989		—		—		17,989
Other assets		3,202,706		125,270		1,946		(3,283,133)		46,789
Total assets	$	3,866,518	$	2,950,852	$	96,385	$	(4,137,335)	$	2,776,420
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt	$	6,500	$	—	$	—	$	—	$	6,500
Current portion of acquisition-related liabilities		1,000		20,663		—		—		21,663
Accounts payable		1,497		76,886		3,329		(102)		81,610
Accrued expenses		46,460		73,807		872		(10,666)		110,473
Intercompany payables		509,503		327,405		6,526		(843,434)		—
Billings in excess of costs and estimated earnings		—		15,242		214		—		15,456
Total current liabilities		564,960		514,003		10,941		(854,202)		235,702
Long-term debt		1,514,456		—		—		—		1,514,456
Acquisition-related liabilities		—		25,161		—		—		25,161
Other noncurrent liabilities		2,395		231,199		56,356		(165,242)		124,708
Total liabilities		2,081,811		770,363		67,297		(1,019,444)		1,900,027
Total member's interest		1,784,707		2,180,489		29,088		(3,117,891)		876,393
Total liabilities and member’s interest	$	3,866,518	$	2,950,852	$	96,385	$	(4,137,335)	$	2,776,420

Condensed Consolidating Statements of Operations and Comprehensive Loss

Condensed Consolidating Statements of Operations

For the three months ended September 30, 2017


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Revenue	$	—		606,046		29,608		(1,473)	$	634,181
Cost of revenue (excluding items shown separately below)		—		389,716		21,302		(1,473)		409,545
General and administrative expenses		15,011		44,373		2,372		—		61,756
Depreciation, depletion, amortization and accretion		619		47,032		1,318		—		48,969
Operating (loss) income		(15,630)		124,925		4,616		—		113,911
Other income, net		(126,386)		(1,569)		(245)		125,484		(2,716)
Interest expense (income)		28,182		(670)		1,196		—		28,708
Income from operations before taxes		82,574		127,164		3,665		(125,484)		87,919
Income tax expense		—		4,397		889		—		5,286
Net income		82,574		122,767		2,776		(125,484)		82,633
Net income attributable to noncontrolling interest		—		—		—		59		59
Net income attributable to member of Summit Materials, LLC	$	82,574	$	122,767	$	2,776	$	(125,543)	$	82,574
Comprehensive income (loss) attributable to member of Summit Materials, LLC	$	87,160	$	122,555	$	(1,598)	$	(120,957)	$	87,160

Condensed Consolidating Statements of Operations

For the three months ended October 1, 2016


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Revenue	$	—	$	518,218	$	13,182	$	(1,963)	$	529,437
Cost of revenue (excluding items shown separately below)		—		328,536		9,247		(1,963)		335,820
General and administrative expenses		25,877		38,655		1,248		—		65,780
Depreciation, depletion, amortization and accretion		571		37,819		1,037		—		39,427
Operating (loss) income		(26,448)		113,208		1,650		—		88,410
Other (income) expense, net		(109,291)		411		(54)		109,656		722
Interest expense		21,575		2,576		868		—		25,019
Income from operations before taxes		61,268		110,221		836		(109,656)		62,669
Income tax expense		—		1,212		97		—		1,309
Net income		61,268		109,009		739		(109,656)		61,360
Net income attributable to noncontrolling interest		—		—		—		92		92
Net income attributable to member of Summit Materials, LLC	$	61,268	$	109,009	$	739	$	(109,748)	$	61,268
Comprehensive income attributable to member of Summit Materials, LLC	$	60,017	$	108,949	$	2,050	$	(110,999)	$	60,017

Condensed Consolidating Statements of Operations

For the nine months ended September 30, 2017


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Revenue	$	—		1,384,956		62,230		(4,635)	$	1,442,551
Cost of revenue (excluding items shown separately below)		—		922,024		45,632		(4,635)		963,021
General and administrative expenses		44,718		131,770		5,715		—		182,203
Depreciation, depletion, amortization and accretion		1,940		128,851		2,965		—		133,756
Operating (loss) income		(46,658)		202,311		7,918		—		163,571
Other income, net		(204,877)		(1,561)		(500)		203,165		(3,773)
Interest expense (income)		76,586		(533)		3,142		—		79,195
Income from operations before taxes		81,633		204,405		5,276		(203,165)		88,149
Income tax expense		—		5,119		1,424		—		6,543
Net income		81,633		199,286		3,852		(203,165)		81,606
Net loss attributable to noncontrolling interest		—		—		—		(27)		(27)
Net income attributable to member of Summit Materials, LLC	$	81,633	$	199,286	$	3,852	$	(203,138)	$	81,633
Comprehensive income (loss) attributable to member of Summit Materials, LLC	$	90,928	$	198,489	$	(4,646)	$	(193,843)	$	90,928

Condensed Consolidating Statements of Operations

For the nine months ended October 1, 2016


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Revenue	$	—	$	1,174,695	$	34,364	$	(5,969)	$	1,203,090
Cost of revenue (excluding items shown separately below)		—		780,031		23,686		(5,969)		797,748
General and administrative expenses		77,603		108,403		4,240		—		190,246
Depreciation, depletion, amortization and accretion		1,848		104,117		3,230		—		109,195
Operating (loss) income		(79,451)		182,144		3,208		—		105,901
Other (income) expense, net		(178,290)		1,605		(363)		178,301		1,253
Interest expense		58,020		11,058		2,590		—		71,668
Income from operations before taxes		40,819		169,481		981		(178,301)		32,980
Income (benefit) tax benefit		—		(8,071)		175		—		(7,896)
Net income		40,819		177,552		806		(178,301)		40,876
Net income attributable to noncontrolling interest		—		—		—		57		57
Net income attributable to member of Summit Materials, LLC	$	40,819	$	177,552	$	806	$	(178,358)	$	40,819
Comprehensive income (loss) attributable to member of Summit Materials, LLC	$	41,553	$	180,784	$	(3,160)	$	(177,624)	$	41,553

Condensed Consolidating Statements of Cash Flows

For the nine months ended September 30, 2017


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Net cash (used in) provided by operating activities	$	(92,840)	$	198,890	$	26,845	$	—	$	132,895
Cash flow from investing activities:
Acquisitions, net of cash acquired		(24,538)		(321,340)		(25,601)		—		(371,479)
Purchase of property, plant and equipment		(4,994)		(137,505)		(4,979)		—		(147,478)
Proceeds from the sale of property, plant, and equipment		—		13,231		59		—		13,290
Other		—		182		—		—		182
Net cash used for investing activities		(29,532)		(445,432)		(30,521)		—		(505,485)
Cash flow from financing activities:
Proceeds from investment by member		(3,409)		249,359		10,717		—		256,667
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		(10,787)		20,975		(6,282)		(3,906)		—
Payments on long-term debt		(6,874)		(6,009)		(4)		—		(12,887)
Payments on acquisition-related liabilities		—		(20,116)		—		—		(20,116)
Financing costs		(5,317)		—		—		—		(5,317)
Distributions from partnership		(2,609)		—		—		—		(2,609)
Other		(536)		(288)		(21)		—		(845)
Net cash provided by financing activities		271,841		243,921		4,410		(3,906)		516,266
Impact of cash on foreign currency		—		—		734		—		734
Net increase (decrease) in cash		149,469		(2,621)		1,468		(3,906)		144,410
Cash — Beginning of period		133,862		4,820		14,656		(10,666)		142,672
Cash — End of period	$	283,331	$	2,199	$	16,124	$	(14,572)	$	287,082

Condensed Consolidating Statements of Cash Flows

For the nine months ended October 1, 2016


			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated

Net cash (used in) provided by operating activities	$	(135,318)	$	219,647	$	194	$	—	$	84,523
Cash flow from investing activities:
Acquisitions, net of cash acquired		(42,844)		(288,619)		—		—		(331,463)
Purchase of property, plant and equipment		(3,769)		(117,760)		(416)		—		(121,945)
Proceeds from the sale of property, plant, and equipment		—		16,129		93		—		16,222
Other		—		1,500		—		—		1,500
Net cash used for investing activities		(46,613)		(388,750)		(323)		—		(435,686)
Cash flow from financing activities:
Proceeds from investment by member		(476,386)		476,499		—		—		113
Capital issuance costs		(136)		—		—		—		(136)
Net proceeds from debt issuance		354,000		—		—		—		354,000
Loans received from and payments made on loans from other Summit Companies		281,013		(275,274)		309		(6,048)		—
Payments on long-term debt		(108,875)		(5,379)		—		—		(114,254)
Payments on acquisition-related liabilities		(400)		(26,020)		—		—		(26,420)
Financing costs		(5,675)		—		—		—		(5,675)
Distributions from partnership		(27,993)		—		—		—		(27,993)
Other		—		(8)		—		—		(8)
Net cash provided by financing activities		15,548		169,818		309		(6,048)		179,627
Impact of cash on foreign currency		—		—		330		—		330
Net (decrease) increase in cash		(166,383)		715		510		(6,048)		(171,206)
Cash — Beginning of period		180,712		4,068		12,208		(11,600)		185,388
Cash — End of period	$	14,329	$	4,783	$	12,718	$	(17,648)	$	14,182