Guarantor Financial Information (Tables)

9 Months Ended

Sep. 28, 2013

Guarantor Financial Information [Abstract]

Guarantor Financial Information Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

As of September 28, 2013

(in thousands)

	Issuer		Guarantors		Non-guarantors		Eliminations			Consolidated
ASSETS
Total current assets	$	104,281	$	509,978	$	2,542	$	(392,470	)	$	224,331
Investment in subsidiaries	1,701,426		—		—		(1,701,426		)	—
Property, plant and equipment, net	164,484		357,778		—		—			522,262
Intangible assets, net	14,787		349,374		254		—			364,415
Goodwill	21,860		424,616		266		—			446,742
Investment in unconsolidated subsidiary	—		—		116,250		—			116,250
Other assets	36,711		2,924		—		—			39,635
	$	2,043,549	$	1,644,670	$	119,312	$	(2,093,896	)	$	1,713,635
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total current liabilities	$	478,392	$	58,816	$	3,497	$	(392,470	)	$	148,235
Long-term debt, net of current portion	250,000		76		—		—			250,076
Other noncurrent liabilities	50,919		—		167		—			51,086
Deferred income taxes	105,931		—		—		—			105,931
Total liabilities	885,242		58,892		3,664		(392,470		)	555,328
Total stockholders’ equity	1,158,307		1,585,778		115,648		(1,701,426		)	1,158,307
	$	2,043,549	$	1,644,670	$	119,312	$	(2,093,896	)	$	1,713,635

Condensed Consolidating Balance Sheet

As of December 29, 2012

(in thousands)

	Issuer		Guarantors		Non-guarantors		Eliminations			Consolidated
ASSETS
Total current assets	$	174,576	$	455,604	$	3,037	$	(342,955	)	$	290,262
Investment in subsidiaries	1,449,577		—		—		(1,449,577		)	—
Property, plant and equipment, net	148,131		305,796		—		—			453,927
Intangible assets, net	14,497		322,634		271		—			337,402
Goodwill	21,860		359,243		266		—			381,369
Investment in unconsolidated subsidiary	—		—		62,495		—			62,495
Other assets	26,530		431		—		—			26,961
	$	1,835,171	$	1,443,708	$	66,069	$	(1,792,532	)	$	1,552,416
LIABILITIES AND STOCKHOLDERS’ EQUITY
Total current liabilities	$	414,755	$	59,218	$	666	$	(342,955	)	$	131,684
Long-term debt, net of current portion	250,000		142		—		—			250,142
Other noncurrent liabilities	61,365		—		174		—			61,539
Deferred income taxes	46,615		—		—		—			46,615
Total liabilities	772,735		59,360		840		(342,955		)	489,980
Total stockholders’ equity	1,062,436		1,384,348		65,229		(1,449,577		)	1,062,436
	$	1,835,171	$	1,443,708	$	66,069	$	(1,792,532	)	$	1,552,416

Guarantor Financial Information Condensed Consolidating Statements Of Operations

Condensed Consolidating Statements of Operations

For the three months ended September 28, 2013

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Net sales	$	182,331		$	309,529		$	2,293		$	(68,367	)	$	425,786
Cost and expenses:
Cost of sales and operating expenses	140,213			235,902			2,341			(68,367		)	310,089
Selling, general and administrative expenses	23,142			19,438			8			—			42,588
Acquisition costs	8,326			—			—			—			8,326
Depreciation and amortization	6,035			17,091			5			—			23,131
Total costs and expenses	177,716			272,431			2,354			(68,367		)	384,134
Operating income	4,615			37,098			(61		)	—			41,652
Interest expense	(5,309		)	(4		)	—			—			(5,313		)
Other, net	(3,023		)	(239		)	(6		)	—			(3,268		)
Equity in net income of unconsolidated subsidiary	—			—			11,953			—			11,953
Earnings in investments in subsidiaries	29,939			—			—			(29,939		)	—
Income/(loss) before taxes	26,222			36,855			11,886			(29,939		)	45,024
Income taxes (benefit)	(1,429		)	14,227			4,575			—			17,373
Net income (loss)	$	27,651		$	22,628		$	7,311		$	(29,939	)	$	27,651

Condensed Consolidating Statements of Operations

For the nine months ended September 28, 2013

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Net sales	$	503,595		$	938,629		$	8,188		$	(155,611	)	$	1,294,801
Cost and expenses:
Cost of sales and operating expenses	388,463			701,804			8,041			(155,611		)	942,697
Selling, general and administrative expenses	66,984			57,798			61			—			124,843
Acquisition costs	9,157			—			—			—			9,157
Depreciation and amortization	17,990			49,067			17			—			67,074
Total costs and expenses	482,594			808,669			8,119			(155,611		)	1,143,771
Operating income	21,001			129,960			69			—			151,030
Interest expense	(16,596		)	(11		)	—			—			(16,607		)
Other, net	(2,697		)	108			(30		)	—			(2,619		)
Equity in net income of unconsolidated subsidiary	—			—			8,796			—			8,796
Earnings in investments in subsidiaries	85,424			—			—			(85,424		)	—
Income/(loss) from operations before taxes	87,132			130,057			8,835			(85,424		)	140,600
Income taxes (benefit)	658			50,067			3,401			—			54,126
Net income (loss)	$	86,474		$	79,990		$	5,434		$	(85,424	)	$	86,474

Condensed Consolidating Statements of Operations

For the three months ended September 29, 2012

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Net sales	$	165,256		$	330,013		$	3,814		$	(46,351	)	$	452,732
Cost and expenses:
Cost of sales and operating expenses	125,806			244,924			3,530			(46,351		)	327,909
Selling, general and administrative expenses	20,396			18,093			34			—			38,523
Depreciation and amortization	5,502			15,016			6			—			20,524
Total costs and expenses	151,704			278,033			3,570			(46,351		)	386,956
Operating income	13,552			51,980			244			—			65,776
Interest expense	(5,867		)	(1		)	—			—			(5,868		)
Other, net	(841		)	1,076			(3		)	—			232
Equity in net loss of unconsolidated subsidiary	—			—			(833		)	—			(833		)
Earnings in investments in subsidiaries	32,877			—			—			(32,877		)	—
Income/(loss) before taxes	39,721			53,055			(592		)	(32,877		)	59,307
Income taxes	2,549			19,806			(220		)	—			22,135
Net income (loss)	$	37,172		$	33,249		$	(372	)	$	(32,877	)	$	37,172

Condensed Consolidating Statements of Operations

For the nine months ended September 29, 2012

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Net sales	$	502,814		$	903,712		$	10,089		$	(140,101	)	$	1,276,514
Cost and expenses:
Cost of sales and operating expenses	389,808			659,207			9,602			(140,101		)	918,516
Selling, general and administrative expenses	60,108			52,571			107			—			112,786
Depreciation and amortization	17,614			45,327			17			—			62,958
Total costs and expenses	467,530			757,105			9,726			(140,101		)	1,094,260
Operating income	35,284			146,607			363			—			182,254
Interest expense	(18,544		)	(2		)	—			—			(18,546		)
Other, net	(2,071		)	1,981			(16		)	—			(106		)
Equity in net loss of unconsolidated subsidiary	—			—			(1,725		)	—			(1,725		)
Earnings in investments in subsidiaries	92,728			—			—			(92,728		)	—
Income/(loss) from operations before taxes	107,397			148,586			(1,378		)	(92,728		)	161,877
Income taxes (benefit)	5,429			54,990			(510		)	—			59,909
Net income (loss)	$	101,968		$	93,596		$	(868	)	$	(92,728	)	$	101,968

Condens

Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income (Loss)

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the three months ended September 28, 2013

(in thousands)

	Issuer		Guarantors		Non-guarantors		Eliminations			Consolidated
Net income	$	27,651	$	22,628	$	7,311	$	(29,939	)	$	27,651
Other comprehensive income (loss), net of tax:
Pension adjustments	806		—		—		—			806
Natural gas swap derivative adjustments	49		—		—		—			49
Corn option derivative adjustments	325		—		—		—			325
Total other comprehensive income, net of tax	1,180		—		—		—			1,180
Total comprehensive income (loss)	$	28,831	$	22,628	$	7,311	$	(29,939	)	$	28,831

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the nine months ended September 28, 2013

(in thousands)

	Issuer			Guarantors		Non-guarantors		Eliminations			Consolidated
Net income	$	86,474		$	79,990	$	5,434	$	(85,424	)	$	86,474
Other comprehensive income (loss), net of tax:
Pension adjustments	2,416			—		—		—			2,416
Natural gas swap derivative adjustments	(12		)	—		—		—			(12		)
Corn option derivative adjustments	1,632			—		—		—			1,632
Total other comprehensive income	4,036			—		—		—			4,036
Total comprehensive income (loss)	$	90,510		$	79,990	$	5,434	$	(85,424	)	$	90,510

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the three months ended September 29, 2012

(in thousands)

	Issuer		Guarantors		Non-guarantors			Eliminations			Consolidated
Net income	$	37,172	$	33,249	$	(372	)	$	(32,877	)	$	37,172
Other comprehensive income (loss), net of tax:
Pension adjustments	742		—		—			—			742
Natural gas swap derivative adjustments	83		—		—			—			83
Interest rate swap derivative adjustment	—		—		—			—			—
Total other comprehensive income, net of tax	825		—		—			—			825
Total comprehensive income (loss)	$	37,997	$	33,249	$	(372	)	$	(32,877	)	$	37,997

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the nine months ended September 29, 2012

(in thousands)

	Issuer		Guarantors		Non-guarantors			Eliminations			Consolidated
Net income	$	101,968	$	93,596	$	(868	)	$	(92,728	)	$	101,968
Other comprehensive income (loss), net of tax:
Pension adjustments	2,226		—		—			—			2,226
Natural gas swap derivative adjustments	404		—		—			—			404
Interest rate swap derivative adjustment	159		—		—			—			159
Total other comprehensive income	2,789		—		—			—			2,789
Total comprehensive income (loss)	$	104,757	$	93,596	$	(868	)	$	(92,728	)	$	104,757

Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows

Condensed Consolidating Statements of Cash Flows

For the nine months ended September 28, 2013

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	86,474		$	79,990		$	5,434		$	(85,424	)	$	86,474
Earnings in investments in subsidiaries	(85,424		)	—			—			85,424			—
Other operating cash flows	115,200			(27,764		)	(5,205		)	—			82,231
Net cash provided by operating activities	116,250			52,226			229			—			168,705
Cash flows from investing activities:
Capital expenditures	(31,572		)	(54,147		)	—			—			(85,719		)
Acquisitions	—			(121,440		)	—			—			(121,440		)
Investment in subsidiaries and affiliates	(166,425		)	—			(44,959		)	166,425			(44,959		)
Gross proceeds from sale of property, plant and equipment and other assets	897			769			—			—			1,666
Proceeds from insurance settlements	1,531			450			—			—			1,981
Payments related to routes and other intangibles	(2,374		)	—			—			—			(2,374		)
Net cash used in investing activities	(197,943		)	(174,368		)	(44,959		)	166,425			(250,845		)
Cash flows from financing activities:
Payments on long-term debt	—			(62		)	—			—			(62		)
Deferred loan costs	(11,138		)	—			—			—			(11,138		)
Issuances of common stock	32			—			—			—			32
Contributions from parent	—			121,440			44,985			(166,425		)	—
Minimum withholding taxes paid on stock awards	(2,649		)	—			—			—			(2,649		)
Excess tax benefits from stock-based compensation	719			—			—			—			719
Net cash used in financing activities	(13,036		)	121,378			44,985			(166,425		)	(13,098		)
Net increase/(decrease) in cash and cash equivalents	(94,729		)	(764		)	255			—			(95,238		)
Cash and cash equivalents at beginning of year	96,945			5,577			727			—			103,249
Cash and cash equivalents at end of year	$	2,216		$	4,813		$	982		$	—		$	8,011

Condensed Consolidating Statements of Cash Flows

For the nine months ended September 29, 2012

(in thousands)

	Issuer			Guarantors			Non-guarantors			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	101,968		$	93,596		$	(868	)	$	(92,728	)	$	101,968
Earnings in investments in subsidiaries	(92,728		)	—			—			92,728			—
Other operating cash flows	142,681			(47,537		)	(542		)	—			94,602
Net cash provided by operating activities	151,921			46,059			(1,410		)	—			196,570
Cash flows from investing activities:
Capital expenditures	(37,183		)	(46,971		)	—			—			(84,154		)
Acquisitions	(3,000		)	—			—			—			(3,000		)
Investment in subsidiaries and affiliates	(34,441		)	—			(34,416		)	34,441			(34,416		)
Gross proceeds from sale of property, plant and equipment and other assets	1,580			1,409			—			—			2,989
Proceeds from insurance settlements	—			1,906			—			—			1,906
Net cash used in investing activities	(73,044		)	(43,656		)	(34,416		)	34,441			(116,675		)
Cash flows from financing activities:
Payments on long-term debt	(30,000		)	(13		)	—			—			(30,013		)
Issuances of common stock	64			—			—			—			64
Contributions from parent	—			—			34,441			(34,441		)	—
Minimum withholding taxes paid on stock awards	(3,365		)	—			—			—			(3,365		)
Excess tax benefits from stock-based compensation	2,169			—			—			—			2,169
Net cash used in financing activities	(31,132		)	(13		)	34,441			(34,441		)	(31,145		)
Net increase/(decrease) in cash and cash equivalents	47,745			2,390			(1,385		)	—			48,750
Cash and cash equivalents at beginning of year	35,207			1,773			1,956			—			38,936
Cash and cash equivalents at end of year	$	82,952		$	4,163		$	571		$	—		$	87,686