GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - (Tables) - Summit Materials, LLC

3 Months Ended

Mar. 28, 2020

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets

March 28, 2020

			100%
			Owned		Non-
	Issuers		Guarantors		Guarantors		Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	190,794	$	1,645	$	10,362	$	(3,687	)	$	199,114
Accounts receivable, net	—		216,747		14,645		(177		)	231,215
Intercompany receivables	414,855		893,871		—		(1,308,726		)	—
Cost and estimated earnings in excess of billings	—		10,522		797		—			11,319
Inventories	—		226,500		4,913		—			231,413
Other current assets	3,042		10,506		1,647		—			15,195
Total current assets	608,691		1,359,791		32,364		(1,312,590		)	688,256
Property, plant and equipment, net	11,067		1,700,780		56,856		—			1,768,703
Goodwill	—		1,142,063		54,494		—			1,196,557
Intangible assets, net	—		22,793		—		—			22,793
Operating lease right-of-use assets	3,144		23,071		4,312		—			30,527
Other assets	3,570,946		152,451		675		(3,675,562		)	48,510
Total assets	$	4,193,848	$	4,400,949	$	148,701	$	(4,988,152	)	$	3,755,346
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt	$	7,942	$	—	$	—	$	—		$	7,942
Current portion of acquisition-related liabilities	—		28,671		—		—			28,671
Accounts payable	3,949		112,763		6,426		(177		)	122,961
Accrued expenses	35,401		68,750		2,227		(3,687		)	102,691
Current operating lease liabilities	800		6,358		973		—			8,131
Intercompany payables	845,943		445,880		16,903		(1,308,726		)	—
Billings in excess of costs and estimated earnings	—		12,984		1,038		—			14,022
Total current liabilities	894,035		675,406		27,567		(1,312,590		)	284,418
Long-term debt	1,850,289		—		—		—			1,850,289
Acquisition-related liabilities	—		13,024		—		—			13,024
Noncurrent operating lease liabilities	3,258		16,854		3,168		—			23,280
Other noncurrent liabilities	3,293		196,100		78,989		(137,020		)	141,362
Total liabilities	2,750,875		901,384		109,724		(1,449,610		)	2,312,373
Total member's interest	1,442,973		3,499,565		38,977		(3,538,542		)	1,442,973
Total liabilities and member’s interest	$	4,193,848	$	4,400,949	$	148,701	$	(4,988,152	)	$	3,755,346

Condensed Consolidating Balance Sheets

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 Statements of Operations and Comprehensive Loss

Condensed Consolidating Statements of Operations

For the three months ended March 28, 2020

				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	354,330		$	16,193		$	(3,333	)	$	367,190
Cost of revenue (excluding items shown separately below)	—			278,195			11,293			(3,333		)	286,155
General and administrative expenses	13,830			54,123			3,024			—			70,977
Depreciation, depletion, amortization and accretion	989			49,473			1,316			—			51,778
Operating (loss) income	(14,819		)	(27,461		)	560			—			(41,720		)
Other loss (income), net	15,292			(306		)	1,171			(16,068		)	89
Interest expense (income)	33,214			(6,714		)	1,200			—			27,700
Loss from operation before taxes	(63,325		)	(20,441		)	(1,811		)	16,068			(69,509		)
Income tax expense (benefit)	300			(5,717		)	(467		)	—			(5,884		)
Net loss attributable to Summit LLC	$	(63,625	)	$	(14,724	)	$	(1,344	)	$	16,068		$	(63,625	)
Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(71,984	)	$	(14,724	)	$	7,015		$	7,709		$	(71,984	)

Condensed Consolidating Statements of Operations

For the three months ended March 30, 2019

				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Revenue	$	—		$	318,181		$	15,641		$	(1,183	)	$	332,639
Cost of revenue (excluding items shown separately below)	—			256,166			12,021			(1,183		)	267,004
General and administrative expenses	14,930			50,032			2,956			—			67,918
Depreciation, depletion, amortization and accretion	952			52,920			1,516			—			55,388
Operating loss	(15,882		)	(40,937		)	(852		)	—			(57,671		)
Other loss (income), net	43,611			(1,942		)	(403		)	(29,504		)	11,762
Interest expense (income)	31,697			(2,964		)	1,204			—			29,937
Loss from operation before taxes	(91,190		)	(36,031		)	(1,653		)	29,504			(99,370		)
Income tax expense (benefit)	374			(7,737		)	(443		)	—			(7,806		)
Net loss attributable to Summit LLC	$	(91,564	)	$	(28,294	)	$	(1,210	)	$	29,504		$	(91,564	)
Comprehensive loss attributable to member of Summit Materials, LLC	$	(89,372	)	$	(28,128	)	$	(3,568	)	$	31,696		$	(89,372	)

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows

For the three months ended March 28, 2020

				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(51,401	)	$	10,349		$	2,121		$	—		$	(38,931	)
Cash flow from investing activities:
Purchase of property, plant and equipment	(454		)	(60,423		)	(952		)	—			(61,829		)
Proceeds from the sale of property, plant, and equipment	—			3,140			20			—			3,160
Other	—			1,801			—			—			1,801
Net cash used for investing activities	(454		)	(55,482		)	(932		)	—			(56,868		)
Cash flow from financing activities:
Proceeds from investment by member	310			—			—			—			310
Loans received from and payments made on loans from other Summit Companies	(55,225		)	52,247			188			2,790			—
Payments on long-term debt	(1,588		)	(3,856		)	(49		)	—			(5,493		)
Payments on acquisition-related liabilities	—			(7,015		)	—			—			(7,015		)
Distributions from partnership	(2,500		)	—			—			—			(2,500		)
Other	(822		)	(86		)	—			—			(908		)
Net cash (used in) provided by financing activities	(59,825		)	41,290			139			2,790			(15,606		)
Impact of cash on foreign currency	—			—			(800		)	—			(800		)
Net (decrease) increase in cash	(111,680		)	(3,843		)	528			2,790			(112,205		)
Cash — Beginning of period	302,474			5,488			9,834			(6,477		)	311,319
Cash — End of period	$	190,794		$	1,645		$	10,362		$	(3,687	)	$	199,114

Condensed Consolidating Statements of Cash Flows

For the three months ended March 30, 2019

				100%
				Owned			Non-
	Issuers			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(57,399	)	$	26,570		$	153		$	—		$	(30,676	)
Cash flow from investing activities:
Acquisitions, net of cash acquired	—			(2,842		)	—			—			(2,842		)
Purchase of property, plant and equipment	(492		)	(57,326		)	(4,370		)	—			(62,188		)
Proceeds from the sale of property, plant, and equipment	—			2,791			6			—			2,797
Other	—			(178		)	—			—			(178		)
Net cash used for investing activities	(492		)	(57,555		)	(4,364		)	—			(62,411		)
Cash flow from financing activities:
Proceeds from investment by member	(2,075		)	2,841			—			—			766
Net proceeds from debt issuance	300,000			—			—			—			300,000
Loans received from and payments made on loans from other Summit Companies	(26,242		)	30,576			113			(4,447		)	—
Payments on long-term debt	(253,178		)	(3,076		)	(79		)	—			(256,333		)
Payments on acquisition-related liabilities	—			(6,433		)	—			—			(6,433		)
Financing costs	(5,774		)	—			—			—			(5,774		)
Distributions from partnership	(2,500		)	—			—			—			(2,500		)
Other	(465		)	(36		)	—			—			(501		)
Net cash provided by financing activities	9,766			23,872			34			(4,447		)	29,225
Impact of cash on foreign currency	—			—			191			—			191
Net decrease in cash	(48,125		)	(7,113		)	(3,986		)	(4,447		)	(63,671		)
Cash — Beginning of period	117,219			8,440			7,719			(4,870		)	128,508
Cash — End of period	$	69,094		$	1,327		$	3,733		$	(9,317	)	$	64,837