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

3 Months Ended

Apr. 02, 2022

April 2, 2022



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	270,487	$	1,475	$	19,412	$	(3,982)	$	287,392
Accounts receivable, net	49		217,943		21,974		(127)		239,839
Intercompany receivables	357,196		1,771,245		—		(2,128,441)		—
Cost and estimated earnings in excess of billings	—		11,947		776		—		12,723
Inventories	—		180,997		6,012		—		187,009
Other current assets	3,519		44,966		2,392		—		50,877
Total current assets	631,251		2,228,573		50,566		(2,132,550)		777,840
Property, plant and equipment, net	11,384		1,665,426		89,784		—		1,766,594
Goodwill	—		1,085,924		61,352		—		1,147,276
Intangible assets, net	—		62,093		4,922		—		67,015
Operating lease right-of-use assets	5,376		18,058		5,332		—		28,766
Other assets	4,424,084		309,795		616		(4,589,113)		145,382
Total assets	$	5,072,095	$	5,369,869	$	212,572	$	(6,721,663)	$	3,932,873
Liabilities and Members' Interest
Current liabilities:
Current portion of debt	$	6,354	$	—	$	—	$	—	$	6,354
Current portion of acquisition-related liabilities	—		13,078		—		—		13,078
Accounts payable	5,524		130,424		11,081		(127)		146,902
Accrued expenses	39,221		89,979		2,120		(3,982)		127,338
Current operating lease liabilities	798		4,387		749		—		5,934
Intercompany payables	1,618,099		508,948		1,394		(2,128,441)		—
Billings in excess of costs and estimated earnings	—		6,210		524		—		6,734
Total current liabilities	1,669,996		753,026		15,868		(2,132,550)		306,340
Long-term debt	1,590,050		—		—		—		1,590,050
Acquisition-related liabilities	—		22,928		—		—		22,928
Noncurrent operating lease liabilities	9,441		14,199		4,377		—		28,017
Other noncurrent liabilities	5,547		228,195		119,156		(164,421)		188,477
Total liabilities	3,275,034		1,018,348		139,401		(2,296,971)		2,135,812
Total members' interest	1,797,061		4,351,521		73,171		(4,424,692)		1,797,061
Total liabilities and members' interest	$	5,072,095	$	5,369,869	$	212,572	$	(6,721,663)	$	3,932,873

Condensed Consolidating Balance Sheets

January 1, 2022



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Assets
Current assets:
Cash and cash equivalents	$	365,044	$	2,264	$	18,337	$	(4,684)	$	380,961
Accounts receivable, net	94		264,888		22,185		59		287,226
Intercompany receivables	366,619		1,746,909		—		(2,113,528)		—
Cost and estimated earnings in excess of billings	—		6,942		658		—		7,600
Inventories	—		175,211		5,549		—		180,760
Other current assets	3,036		8,920		1,107		—		13,063
Total current assets	734,793		2,205,134		47,836		(2,118,153)		869,610
Property, plant and equipment, net	10,013		1,742,721		90,174		—		1,842,908
Goodwill	—		1,104,019		60,731		—		1,164,750
Intangible assets, net	—		64,466		4,930		—		69,396
Operating lease right-of-use assets	5,612		19,693		4,845		—		30,150
Other assets	4,417,039		220,500		576		(4,579,370)		58,745
Total assets	$	5,167,457	$	5,356,533	$	209,092	$	(6,697,523)	$	4,035,559
Liabilities and Members' Interest
Current liabilities:
Current portion of debt	$	6,354	$	—	$	—	$	—	$	6,354
Current portion of acquisition-related liabilities	—		13,110		—		—		13,110
Accounts payable	6,284		114,405		8,095		59		128,843
Accrued expenses	55,440		94,858		2,522		(4,684)		148,136
Current operating lease liabilities	780		5,053		664		—		6,497
Intercompany payables	1,607,816		502,334		3,378		(2,113,528)		—
Billings in excess of costs and estimated earnings	—		6,960		441		—		7,401
Total current liabilities	1,676,674		736,720		15,100		(2,118,153)		310,341
Long-term debt	1,591,019		—		—		—		1,591,019
Acquisition-related liabilities	—		33,369		—		—		33,369
Noncurrent operating lease liabilities	9,647		15,101		4,132		—		28,880
Other noncurrent liabilities	5,173		227,348		118,906		(164,421)		187,006
Total liabilities	3,282,513		1,012,538		138,138		(2,282,574)		2,150,615
Total members' interest	1,884,944		4,343,995		70,954		(4,414,949)		1,884,944
Total liabilities and members' interest	$	5,167,457	$	5,356,533	$	209,092	$	(6,697,523)	$	4,035,559

Condensed Consolidating Statements of Operations

For the three months ended April 2, 2022



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Revenue	$	—	$	395,180	$	27,097	$	(1,330)	$	420,947
Cost of revenue (excluding items shown separately below)	—		334,264		20,446		(1,330)		353,380
General and administrative expenses	17,304		31,672		1,693		—		50,669
Depreciation, depletion, amortization and accretion	750		47,496		2,947		—		51,193
Operating (loss) income	(18,054)		(18,252)		2,011		—		(34,295)
Other income, net	(5,919)		(552)		(7)		5,782		(696)
Interest expense (income)	33,902		(15,123)		1,370		—		20,149
Gain on sale of business	—		(14,205)		—		—		(14,205)
(Loss) income from operation before taxes	(46,037)		11,628		648		(5,782)		(39,543)
Income tax expense	350		6,318		176		—		6,844
Net (loss) income attributable to Summit LLC	$	(46,387)	$	5,310	$	472	$	(5,782)	$	(46,387)
Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(44,643)	$	5,310	$	(1,272)	$	(4,038)	$	(44,643)

Condensed Consolidating Statements of Operations

For the three months ended April 3, 2021



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Revenue	$	—	$	407,301	$	22,811	$	(2,268)	$	427,844
Cost of revenue (excluding items shown separately below)	—		331,844		17,118		(2,268)		346,694
General and administrative expenses	18,591		29,849		1,433		—		49,873
Depreciation, depletion, amortization and accretion	1,104		52,566		2,666		—		56,336
Operating (loss) income	(19,695)		(6,958)		1,594		—		(25,059)
Other income, net	(25,560)		(4,337)		(481)		25,489		(4,889)
Interest expense (income)	33,291		(10,543)		1,376		—		24,124

(Loss) income from operation before taxes	(27,426)		23,590		699		(25,489)		(28,626)
Income tax expense (benefit)	364		(1,385)		185		—		(836)
Net (loss) income attributable to Summit LLC	$	(27,790)	$	24,975	$	514	$	(25,489)	$	(27,790)
Comprehensive (loss) income attributable to member of Summit Materials, LLC	$	(25,664)	$	24,975	$	(1,612)	$	(23,363)	$	(25,664)

Condensed Consolidating Statements of Cash Flows

For the three months ended April 2, 2022



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(48,551)	$	25,873	$	5,965	$	—	$	(16,713)
Cash flow from investing activities:

Purchase of property, plant and equipment	(459)		(55,522)		(1,793)		—		(57,774)
Proceeds from the sale of property, plant, and equipment	—		1,360		79		—		1,439
Proceeds from the sale of a business	—		47,821		—		—		47,821
Other	—		(857)		—		—		(857)
Net cash used for investing activities	(459)		(7,198)		(1,714)		—		(9,371)
Cash flow from financing activities:
Capital distributions to member	(47,482)		—		—		—		(47,482)


Loans received from and payments made on loans from other Summit Companies	4,703		(2,052)		(3,353)		702		—
Payments on long-term debt	(1,588)		(6,015)		—		—		(7,603)

Payments on acquisition-related liabilities	—		(11,397)		—		—		(11,397)


Other	(1,180)		—		—		—		(1,180)
Net cash used in financing activities	(45,547)		(19,464)		(3,353)		702		(67,662)
Impact of cash on foreign currency	—		—		177		—		177
Net (decrease) increase in cash	(94,557)		(789)		1,075		702		(93,569)
Cash — Beginning of period	365,044		2,264		18,337		(4,684)		380,961
Cash — End of period	$	270,487	$	1,475	$	19,412	$	(3,982)	$	287,392

Condensed Consolidating Statements of Cash Flows

For the three months ended April 3, 2021



					Non-
	Issuers		Guarantors		Guarantors		Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(44,988)	$	18,590	$	5,080	$	—	$	(21,318)
Cash flow from investing activities:

Purchase of property, plant and equipment	(215)		(67,795)		(1,747)		—		(69,757)
Proceeds from the sale of property, plant, and equipment	—		2,457		206		—		2,663
Proceeds from the sale of a business	—		33,077		—		—		33,077
Other	—		(483)		—		—		(483)
Net cash used for investing activities	(215)		(32,744)		(1,541)		—		(34,500)
Cash flow from financing activities:
Proceeds from investment by member	15,920		—		—		—		15,920

Loans received from and payments made on loans from other Summit Companies	(21,350)		22,390		(2,063)		1,023		—
Payments on long-term debt	(1,589)		(8,531)		(50)		—		(10,170)
Payments on acquisition-related liabilities	—		(5,596)		—		—		(5,596)

Distributions from partnership	(2,500)		—		—		—		(2,500)
Other	(416)		—		—		—		(416)
Net cash (used in) provided by financing activities	(9,935)		8,263		(2,113)		1,023		(2,762)
Impact of cash on foreign currency	—		—		140		—		140
Net (decrease) increase in cash	(55,138)		(5,891)		1,566		1,023		(58,440)
Cash — Beginning of period	401,074		10,287		10,461		(3,641)		418,181
Cash — End of period	$	345,936	$	4,396	$	12,027	$	(2,618)	$	359,741