Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 29, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Consolidating Balance Sheet

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET March 29, 2014 (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—		$	8,463		$	582		$	2,493		$	—		$	11,538
Accounts receivable, net	—			127,442			145,599			742			—			273,783
Inventories	—			95,546			76,650			13			—			172,209
Notes receivable from subsidiaries	—			36,938			3,245			—			(40,183		)	—
Prepaid and other current assets	—			43,576			6,666			2,936			—			53,178
Assets of discontinued operations - current	—			—			88			—			—			88
Total current assets	—			311,965			232,830			6,184			(40,183		)	510,796
Investment in subsidiaries	(511,662		)	1,882,283			2,811			7,829			(1,381,261		)	—
Property, plant and equipment, net	—			133,262			165,904			749			—			299,915
Goodwill	—			25,540			155,379			5,507			—			186,426
Other intangible assets, net	—			9,778			154,432			1,146			—			165,356
Other assets, net	—			38,629			5,146			516			—			44,291
Total assets	$	(511,662	)	$	2,401,457		$	716,502		$	21,931		$	(1,421,444	)	$	1,206,784
Liabilities and Shareholders’ (Deficit) Equity
Current liabilities:
Current maturities of long-term debt	$	—		$	6,600		$	2,162		$	—		$	—		$	8,762
Accounts payable	—			141,960			98,744			480			—			241,184
Accrued compensation and related liabilities	—			28,908			8,033			538			—			37,479
Other current liabilities	—			58,989			18,669			595			—			78,253
Liabilities of discontinued operations - current	—			—			104			—			—			104
Intercompany payable (receivable)	—			1,364,419			(1,372,431		)	8,012			—			—
Notes payable to issuer	—			—			36,938			3,245			(40,183		)	—
Total current liabilities	—			1,600,876			(1,207,781		)	12,870			(40,183		)	365,782
Long-term debt	—			1,191,278			2,487			—			—			1,193,765
Other liabilities	—			120,965			39,513			(1,579		)	—			158,899
Shareholders’ (deficit) equity	(511,662		)	(511,662		)	1,882,283			10,640			(1,381,261		)	(511,662		)
Total liabilities and shareholders’ (deficit) equity	$	(511,662	)	$	2,401,457		$	716,502		$	21,931		$	(1,421,444	)	$	1,206,784

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET December 28, 2013 (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—		$	9,504		$	—		$	1,825		$	—		$	11,329
Accounts receivable, net	—			128,214			152,091			1,281			—			281,586
Inventories	—			89,830			71,722			13			—			161,565
Notes receivable from subsidiaries	—			36,938			—			—			(36,938		)	—
Prepaid and other current assets	—			46,050			6,813			2,490			—			55,353
Assets of discontinued operations - current	—			—			132			—			—			132
Total current assets	—			310,536			230,758			5,609			(36,938		)	509,965
Investment in subsidiaries	(496,980		)	1,865,003			5,385			6,725			(1,380,133		)	—
Property, plant and equipment, net	—			134,326			169,770			811			—			304,907
Goodwill	—			25,540			155,561			5,335			—			186,436
Other intangible assets, net	—			9,930			157,621			1,198			—			168,749
Other assets, net	—			37,952			5,175			487			—			43,614
Assets of discontinued operations - long-term	—			—			33			—			—			33
Total assets	$	(496,980	)	$	2,383,287		$	724,303		$	20,165		$	(1,417,071	)	$	1,213,704
Liabilities and Shareholders’ (Deficit) Equity
Current liabilities:
Current maturities of long-term debt	$	—		$	6,600		$	2,574		$	—		$	—		$	9,174
Accounts payable	—			148,678			94,889			661			—			244,228
Accrued compensation and related liabilities	—			20,684			10,969			486			—			32,139
Other current liabilities	—			60,845			19,674			679			—			81,198
Liabilities of discontinued operations - current	—			1,372			641			—			—			2,013
Intercompany payable (receivable)	—			1,341,397			(1,349,273		)	7,876			—			—
Notes payable to issuer	—			—			36,938			—			(36,938		)	—
Total current liabilities	—			1,579,576			(1,183,588		)	9,702			(36,938		)	368,752
Long-term debt	—			1,173,457			2,894			—			—			1,176,351
Other liabilities	—			127,234			39,994			(1,647		)	—			165,581
Shareholders’ (deficit) equity	(496,980		)	(496,980		)	1,865,003			12,110			(1,380,133		)	(496,980		)
Total liabilities and shareholders’ (deficit) equity	$	(496,980	)	$	2,383,287		$	724,303		$	20,165		$	(1,417,071	)	$	1,213,704

Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 29, 2014 (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	241,467		$	245,177		$	3,475		$	—		$	490,119
Cost of sales	—			210,725			201,544			2,888			—			415,157
Selling, general and administrative expenses	—			33,608			21,550			336			—			55,494
Amortization of intangible assets	—			185			3,131			133			—			3,449
Restructuring and other charges	—			3,931			2,016			—			—			5,947
Operating (loss) income	—			(6,982		)	16,936			118			—			10,072
Interest expense, net	—			27,823			87			—			—			27,910
Intercompany interest (income) expense	—			(270		)	270			—			—			—
Loss on early extinguishment of debt, net	—			18			—			—			—			18
Other (income) expense, net	—			(183		)	(325		)	(1		)	—			(509		)
(Loss) income from continuing operations before income taxes and equity in (loss) income of subsidiaries	—			(34,370		)	16,904			119			—			(17,347		)
Income tax (benefit) expense	—			(391		)	(237		)	68			—			(560		)
(Loss) income from continuing operations before equity in (loss) income of subsidiaries	—			(33,979		)	17,141			51			—			(16,787		)
Equity in (loss) income of subsidiaries	(15,834		)	18,072			51			—			(2,289		)	—
(Loss) income from continuing operations	(15,834		)	(15,907		)	17,192			51			(2,289		)	(16,787		)
Income from discontinued operations, net of taxes	—			73			880			—			—			953
Net (loss) income	(15,834		)	(15,834		)	18,072			51			(2,289		)	(15,834		)
Other comprehensive income (loss):
Other comprehensive income (loss) of subsidiaries	568			88			619			—			(1,275		)	—
Changes in pension and other employee benefit accounts, net of taxes	—			480			—			—			—			480
Currency translation adjustment	—			—			(531		)	619			—			88
Comprehensive (loss) income	$	(15,266	)	$	(15,266	)	$	18,160		$	670		$	(3,564	)	$	(15,266	)

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the three months ended March 30, 2013 (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net sales	$	—		$	167,704		$	247,349		$	3,561		$	—	$	418,614
Cost of sales	—			144,152			204,698			3,052			—		351,902
Selling, general and administrative expenses	—			26,981			21,143			221			—		48,345
Amortization of intangible assets	—			137			2,238			132			—		2,507
Restructuring and other charges	—			2,834			1,344			4			—		4,182
Operating (loss) income	—			(6,400		)	17,926			152			—		11,678
Interest expense, net	—			29,464			114			(3		)	—		29,575
Intercompany interest (income) expense	—			(350		)	350			—			—		—
Loss on early extinguishment of debt, net	—			127			—			—			—		127
Other expense (income), net	—			369			(95		)	22			—		296
(Loss) income from continuing operations before income taxes and equity in (loss) income of subsidiaries	—			(36,010		)	17,557			133			—		(18,320		)
Income tax expense	—			1,646			461			63			—		2,170
(Loss) income from continuing operations before equity in (loss) income of subsidiaries	—			(37,656		)	17,096			70			—		(20,490		)
Equity in (loss) income of subsidiaries	(19,145		)	17,167			70			—			1,908		—
(Loss) income from continuing operations	(19,145		)	(20,489		)	17,166			70			1,908		(20,490		)
Income (loss) from discontinued operations, net of taxes	—			1,344			1			—			—		1,345
Net (loss) income	(19,145		)	(19,145		)	17,167			70			1,908		(19,145		)
Other comprehensive (loss) income:
Other comprehensive (loss) income of subsidiaries	(779		)	(779		)	114			—			1,444		—
Currency translation adjustment	—			—			(893		)	114			—		(779		)
Comprehensive (loss) income	$	(19,924	)	$	(19,924	)	$	16,388		$	184		$	3,352	$	(19,924	)

Schedule of Condensed Consolidating Statement of Cash Flows

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 29, 2014  (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	836		$	(34,318	)	$	31,552		$	(1,493	)	$	—	$	(3,423	)
Net cash used in operating activities of discontinued operations	—			(610		)	(1,048		)	—			—		(1,658		)
Net cash provided by (used in) operating activities	836			(34,928		)	30,504			(1,493		)	—		(5,081		)
Cash flows from investing activities:
Capital expenditures	—			(5,427		)	(3,501		)	(47		)	—		(8,975		)
Purchase of investment	—			(2,000		)	—			—			—		(2,000		)
Proceeds from sale of property, plant and equipment	—			8			154			—			—		162
Net cash used in investing activities of continuing operations	—			(7,419		)	(3,347		)	(47		)	—		(10,813		)
Net cash provided by investing activities of discontinued operations	—			462			556			—			—		1,018
Net cash used in investing activities	—			(6,957		)	(2,791		)	(47		)	—		(9,795		)
Cash flows from financing activities:
Payment of financing-related costs and expenses and debt issuance discounts	—			(2,330		)	—			—			—		(2,330		)
Repayments of other long-term debt	—			(750		)	(819		)	—			—		(1,569		)
Purchase and retirement of common stock upon vesting of RSUs	(252		)	—			—			—			—		(252		)
Repayment of 15% Unsecured Term Loan due 2017	—			(600		)	—			—			—		(600		)
Repayment of Term Loan Facility due 2017	—			(900		)	—			—			—		(900		)
Borrowings under ABL Facility due 2017	—			156,400			—			—			—		156,400
Repayments under ABL Facility due 2017	—			(135,600		)	—			—			—		(135,600		)
Intercompany advances	(584		)	24,624			(26,317		)	2,277			—		—
Net cash (used in) provided by financing activities	(836		)	40,844			(27,136		)	2,277			—		15,149
Effect of exchange rate changes on cash and cash equivalents	—			—			5			(69		)	—		(64		)
Net (decrease) increase in cash and cash equivalents	—			(1,041		)	582			668			—		209
Cash and cash equivalents at beginning of period	—			9,504			—			1,825			—		11,329
Cash and cash equivalents at end of period	$	—		$	8,463		$	582		$	2,493		$	—	$	11,538

CENVEO, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the three months ended March 30, 2013  (in thousands)
	Parent Company			Subsidiary Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities of continuing operations	$	953		$	(19,797	)	$	20,627		$	16		$	—	$	1,799
Net cash provided by operating activities of discontinued operations	—			1,033			486			—			—		1,519
Net cash provided by (used in) operating activities	953			(18,764		)	21,113			16			—		3,318
Cash flows from investing activities:
Cost of business acquisitions, net of cash acquired	—			(5,145		)	—			—			—		(5,145		)
Capital expenditures	—			(6,130		)	(3,924		)	(7		)	—		(10,061		)
Purchase of investment	—			(1,650		)	—			—			—		(1,650		)
Proceeds from sale of property, plant and equipment	—			182			5,668			—			—		5,850
Net cash (used in) provided by investing activities of continuing operations	—			(12,743		)	1,744			(7		)	—		(11,006		)
Net cash used in investing activities of discontinued operations	—			(201		)	—			—			—		(201		)
Net cash (used in) provided by investing activities	—			(12,944		)	1,744			(7		)	—		(11,207		)
Cash flows from financing activities:
Repayment of 7.875% senior subordinated notes	—			(67,848		)	—			—			—		(67,848		)
Repayment of Term Loan B due 2016	—			(990		)	—			—			—		(990		)
Payment of financing-related costs and expenses and debt issuance discounts	—			(5,054		)	—			—			—		(5,054		)
Repayments of other long-term debt	—			—			(890		)	—			—		(890		)
Purchase and retirement of common stock upon vesting of RSUs	(219		)	—			—			—			—		(219		)
Borrowings under Revolving Credit Facility, net	—			42,300			—			—			—		42,300
Proceeds from issuance of 15% Unsecured Term Loan due 2017	—			50,000			—			—			—		50,000
Repayment of 15% Unsecured Term Loan due 2017	—			(7,000		)	—			—			—		(7,000		)
Intercompany advances	(734		)	22,828			(22,249		)	155			—		—
Net cash (used in) provided by financing activities	(953		)	34,236			(23,139		)	155			—		10,299
Effect of exchange rate changes on cash and cash equivalents	—			—			70			23			—		93
Net increase (decrease) in cash and cash equivalents	—			2,528			(212		)	187			—		2,503
Cash and cash equivalents at beginning of period	—			5,763			286			2,061			—		8,110
Cash and cash equivalents at end of period	$	—		$	8,291		$	74		$	2,248		$	—	$	10,613