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Senior Notes' Guarantor and Non-Guarantor Financial Information
 12 Months Ended
Jan. 02, 2021
Summit Materials, LLC  
Condensed Financial Statements, Captions [Line Items]  
Senior Notes' Guarantor and Non-Guarantor Financial Information Senior Notes’ Guarantor and Non-Guarantor Financial Information
 
Summit LLC’s domestic wholly-owned subsidiary companies other than Finance Corp. are named as guarantors (collectively, the “Guarantors”) of the Senior Notes. Certain other partially-owned subsidiaries and a non-U.S. entity do not guarantee the Senior Notes (collectively, the “Non-Guarantors”). The Guarantors provide a joint and several, full and unconditional guarantee of the Senior Notes.
There are no significant restrictions on Summit LLC’s ability to obtain funds from any of the Guarantor Subsidiaries in the form of dividends or loans. Additionally, there are no significant restrictions on a Guarantor Subsidiary’s ability to obtain funds from Summit LLC or its direct or indirect subsidiaries.
The following condensed consolidating balance sheets, statements of operations and cash flows are provided for the Issuers, 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 the financial position, results of operations or cash flows had the guarantor or non-guarantor subsidiaries operated as independent entities.
Condensed Consolidating Balance Sheets
January 2, 2021
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
Assets
Current assets:
Cash and cash equivalents$401,074 $10,287 $10,461 $(3,641)$418,181 
Accounts receivable, net4 230,199 24,384 109 254,696 
Intercompany receivables404,459 1,303,293 — (1,707,752)— 
Cost and estimated earnings in excess of billings— 7,504 1,162 — 8,666 
Inventories— 193,417 6,891 — 200,308 
Other current assets2,840 6,797 1,791 — 11,428 
Total current assets808,377 1,751,497 44,689 (1,711,284)893,279 
Property, plant and equipment, net9,410 1,746,045 94,714 — 1,850,169 
Goodwill— 1,142,083 60,208 — 1,202,291 
Intangible assets, net— 47,852 — — 47,852 
Operating lease right-of-use assets2,615 21,880 4,048 — 28,543 
Other assets4,022,729 207,699 493 (4,175,921)55,000 
Total assets$4,843,131 $4,917,056 $204,152 $(5,887,205)$4,077,134 
Liabilities and Member’s Interest
Current liabilities:
Current portion of debt$6,354 $— $— $— $6,354 
Current portion of acquisition-related liabilities— 7,827 — — 7,827 
Accounts payable3,889 108,805 8,619 109 121,422 
Accrued expenses54,108 106,320 4,014 (3,641)160,801 
Current operating lease liabilities913 6,114 1,161 — 8,188 
Intercompany payables1,215,043 485,401 7,308 (1,707,752)— 
Billings in excess of costs and estimated earnings— 15,508 991 — 16,499 
Total current liabilities1,280,307 729,975 22,093 (1,711,284)321,091 
Long-term debt1,892,347 — — — 1,892,347 
Acquisition-related liabilities— 12,246 — — 12,246 
Noncurrent operating lease liabilities2,567 16,062 2,871 — 21,500 
Other noncurrent liabilities5,142 208,540 117,921 (164,421)167,182 
Total liabilities3,180,363 966,823 142,885 (1,875,705)2,414,366 
Total member's interest1,662,768 3,950,233 61,267 (4,011,500)1,662,768 
Total liabilities and member’s interest$4,843,131 $4,917,056 $204,152 $(5,887,205)$4,077,134 
Condensed Consolidating Balance Sheets
December 28, 2019
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
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 receivables443,323 942,385 — (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 assets1,763 10,308 1,760 — 13,831 
Total current assets747,560 1,404,319 36,620 (1,392,218)796,281 
Property, plant and equipment, net11,602 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 assets3,316 24,551 4,910 — 32,777 
Other assets3,596,161 168,314 734 (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 payable4,588 103,812 8,603 (33)116,970 
Accrued expenses51,043 72,970 2,701 (6,477)120,237 
Current operating lease liabilities764 6,571 1,092 — 8,427 
Intercompany payables922,356 447,827 15,525 (1,385,708)— 
Billings in excess of costs and estimated earnings— 12,183 1,681 — 13,864 
Total current liabilities986,693 673,563 29,602 (1,392,218)297,640 
Long-term debt1,851,057 — — — 1,851,057 
Acquisition-related liabilities— 17,666 — — 17,666 
Noncurrent operating lease liabilities3,480 18,047 3,854 — 25,381 
Other noncurrent liabilities4,259 203,919 80,169 (137,018)151,329 
Total liabilities2,845,489 913,195 113,625 (1,529,236)2,343,073 
Total member's interest1,513,150 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 Income
Year Ended January 2, 2021
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
Revenue$— $2,259,865 $89,752 $(17,166)$2,332,451 
Cost of revenue (excluding items shown separately below)— 1,542,586 58,576 (17,166)1,583,996 
General and administrative expenses72,504 217,897 11,561 — 301,962 
Depreciation, depletion, amortization and accretion3,983 210,038 7,299 — 221,320 
Operating (loss) income(76,487)289,344 12,316 — 225,173 
Other (income) loss, net(328,914)(2,473)(198)331,667 82 
Interest expense (income)130,176 (31,402)4,517 — 103,291 
Income from operation before taxes122,251 323,219 7,997 (331,667)121,800 
Income tax expense (benefit)1,514 (4,737)4,286 — 1,063 
Net income attributable to Summit LLC$120,737 $327,956 $3,711 $(331,667)$120,737 
Comprehensive income (loss) attributable to member of Summit Materials, LLC$123,125 $330,185 $(906)$(329,279)$123,125 
Condensed Consolidating Statements of Operations and Comprehensive Income
Year ended December 28, 2019
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
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 expenses58,099 195,683 11,366 — 265,148 
Depreciation, depletion, amortization and accretion3,997 207,277 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 taxes89,687 288,701 8,256 (291,662)94,982 
Income tax expense1,090 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)$91,242 
Condensed Consolidating Statements of Operations and Comprehensive Income
Year ended December 29, 2018
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
Revenue$— $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 expenses62,376 184,917 10,554 — 257,847 
Depreciation, depletion, amortization and accretion2,622 197,406 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 expense118,857 (7,818)4,792 — 115,831 
Gain on sale of business— (12,108)— — (12,108)
Income from continuing operations before taxes65,349 254,452 1,966 (247,657)74,110 
Income tax (benefit) expense1,512 8,226 535 — 10,273 
Net income attributable to member of Summit Materials, 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 Cash Flows
For the year ended January 2, 2021
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
Net cash (used in) provided by operating activities$(135,895)$502,595 $42,169 $— $408,869 
Cash flow from investing activities:
Acquisitions, net of cash acquired— (92,085)(31,392)— (123,477)
Purchase of property, plant and equipment(2,150)(173,228)(1,871)— (177,249)
Proceeds from the sale of property, plant, and equipment— 13,935 83 — 14,018 
Other— 1,121 — — 1,121 
Net cash used for investing activities(2,150)(250,257)(33,180)— (285,587)
Cash flow from financing activities:
Proceeds from investment by member(91,142)87,925 4,260 — 1,043 
Net proceeds from debt issuance700,000 — — — 700,000 
Loans received from and payments made on loans from other Summit Companies298,656 (288,711)(12,781)2,836 — 
Payments on long-term debt(657,942)(15,911)(192)— (674,045)
Payments on acquisition-related liabilities— (30,757)— — (30,757)
Debt issuance costs(9,605)— — — (9,605)
Distributions from partnership(2,500)— — — (2,500)
Other(822)(85)— — (907)
Net cash provided by (used in) financing activities236,645 (247,539)(8,713)2,836 (16,771)
Impact of cash on foreign currency— — 351 — 351 
Net increase in cash98,600 4,799 627 2,836 106,862 
Cash — Beginning of period302,474 5,488 9,834 (6,477)311,319 
Cash — End of period$401,074 $10,287 $10,461 $(3,641)$418,181 
Condensed Consolidating Statements of Cash Flows
For the year ended December 28, 2019
 
100%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
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 
Proceeds from the sale of a business— 21,564 — — 21,564 
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 issuance300,000 — — — 300,000 
Loans received from and payments made on loans from other Summit Companies287,029 (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)
Financing costs(6,312)— — — (6,312)
Distributions from partnership(2,500)— — — (2,500)
Other(462)(40)— — (502)
Net cash provided by (used in) financing activities299,787 (285,219)(4,811)(1,607)8,150 
Impact of cash on foreign currency— — 286 — 286 
Net increase (decrease) in cash185,255 (2,952)2,115 (1,607)182,811 
Cash — Beginning of period117,219 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%
OwnedNon-
IssuersGuarantorsGuarantorsEliminationsConsolidated
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 issuance64,500 — — — 64,500 
Loans received from and payments made on loans from other Summit Companies51,696 (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 provided by financing activities(103,600)45,606 6,499 7,502 (43,993)
Impact of cash on foreign currency— — (724)— (724)
Net (decrease) increase in cash(253,522)(1,814)(7,214)7,502 (255,048)
Cash — Beginning of period370,741 10,254 14,933 (12,372)383,556 
Cash — End of period$117,219 $8,440 $7,719 $(4,870)$128,508