XML 28 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
6. Sale and deconsolidation of variable Interest Entity - AAP - USD ($)
 12 Months Ended
Dec. 30, 2017
Dec. 31, 2016
Sale And Deconsolidation Of Variable Interest Entity - Aap    
Variable Interest Entity

Note 6:       Sale and deconsolidation of variable interest entity - AAP

 

The financial position and results of operations of AAP have been consolidated in our financial statements since AAP’s inception based on our conclusion that AAP was a variable interest entity that we controlled due to our contribution in excess of 50% of the total equity, subordinated debt and other forms of financial support. Since inception we provided substantial financial support to fund the operations of AAP. The financial position and results of operations for AAP are reported in our recycling segment. On August 15, 2017, we sold our 50% interest in AAP, and therefore, as of August 15, 2017, no longer consolidate the results of AAP in our financial statements.

 

The following table summarizes the assets and liabilities of AAP consolidated in our financial position as of December 31, 2016:

 

Assets  December 31, 2016 
Current assets  $438 
Property and equipment, net   7,322 
Other assets   83 
Total assets  $7,843 
Liabilities     
Accounts payable  $1,388 
Accrued expenses   523 
Current maturities of long-term debt obligations   3,558 
Long-term debt obligations, net of current maturities   435 
Other liabilities (a)   1,126 
Total liabilities  $7,030 

 

(a)    Other liabilities represent loans and advances between ARCA and AAP that are eliminated in consolidation.

  

The following table summarizes the operating results of AAP consolidated in our financial results for the 52 weeks ended December 30, 2017, and December 31, 2016, respectively:

 

   52 Weeks Ended 
   December 30, 2017 (b)   December 31, 2016 
Revenues  $1,433   $6,697 
Gross profit   24    1,305 
Operating loss   (848)   (363)
Net loss   (991)   (628)

 

(b)    Operating results for AAP were consolidated in the Company’s operating results from inception of AAP through August 15, 2017, the date of our 50% equity sale in AAP. We recorded a gain of $81 on the sale and deconsolidation of our 50% equity interest in AAP. Net Cash outflow arising from deconsolidation of AAP was $35. The Company received $800 in cash consideration for its 50% equity interest in AAP.

  
ARCA Advanced Processing, LLC [Member]    
Current assets   $ 438
Property and equipment, net   7,322
Other assets   83
Total assets   7,843
Accounts payable   1,388
Accrued expenses   523
Current maturities of long-term debt obligations   3,558
Long-term debt obligations, net of current maturities   435
Other liabilities (a)   1,126
Total liabilities   $ 7,030