GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)
|
9 Months Ended |
Sep. 27, 2014
|
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
Condensed Consolidating Balance Sheets |
Condensed Consolidating Balance Sheets As of September 27, 2014 (dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | ASSETS | | | | | | | | | | | | Current assets: | | | | | | | | | | | | Cash and cash equivalents | $ | — |
| | $ | 106,699 |
| | $ | 5,708 |
| | $ | 21,239 |
| | $ | — |
| | $ | 133,646 |
| Accounts receivable, net | — |
| | 198,339 |
| | 25,988 |
| | 8,151 |
| | — |
| | 232,478 |
| Intercompany receivable | — |
| | 89,704 |
| | 86,256 |
| | 10,153 |
| | (186,113 | ) | | — |
| Intercompany loan receivable | — |
| | 35,000 |
| | — |
| | — |
| | (35,000 | ) | | — |
| Finished goods inventories, net | — |
| | 270,504 |
| | 236,235 |
| | 58,259 |
| | (45,582 | ) | | 519,416 |
| Prepaid expenses and other current assets | — |
| | 9,151 |
| | 15,053 |
| | 7,054 |
| | — |
| | 31,258 |
| Deferred income taxes | — |
| | 23,860 |
| | 13,026 |
| | 1,683 |
| | — |
| | 38,569 |
| Total current assets | — |
| | 733,257 |
| | 382,266 |
| | 106,539 |
| | (266,695 | ) | | 955,367 |
| Property, plant, and equipment, net | — |
| | 158,401 |
| | 146,908 |
| | 27,566 |
| | — |
| | 332,875 |
| Goodwill | — |
| | 136,570 |
| | — |
| | 47,626 |
| | — |
| | 184,196 |
| Tradenames and other intangibles, net | — |
| | 230,495 |
| | 85,500 |
| | 51 |
| | — |
| | 316,046 |
| Deferred debt issuance costs, net | — |
| | 7,043 |
| | — |
| | — |
| | — |
| | 7,043 |
| Other assets | — |
| | 10,685 |
| | 529 |
| | — |
| | — |
| | 11,214 |
| Intercompany long term receivable | — |
| | — |
| | 233,039 |
| | — |
| | (233,039 | ) | | — |
| Intercompany long term note receivable | — |
| | 100,000 |
| | — |
| | — |
| | (100,000 | ) | | — |
| Investment in subsidiaries | 751,581 |
| | 581,538 |
| | 8,156 |
| | — |
| | (1,341,275 | ) | | — |
| Total assets | $ | 751,581 |
| | $ | 1,957,989 |
| | $ | 856,398 |
| | $ | 181,782 |
| | $ | (1,941,009 | ) | | $ | 1,806,741 |
| | | | | | | | | | | | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | Accounts payable | $ | — |
| | $ | 73,951 |
| | $ | 32,008 |
| | $ | 11,370 |
| | $ | — |
| | $ | 117,329 |
| Intercompany payables | — |
| | 88,637 |
| | 93,747 |
| | 3,729 |
| | (186,113 | ) | | — |
| Intercompany loan payable | — |
| | — |
| | — |
| | 35,000 |
| | (35,000 | ) | | — |
| Other current liabilities | — |
| | 39,007 |
| | 47,401 |
| | 14,065 |
| | — |
| | 100,473 |
| Total current liabilities | — |
| | 201,595 |
| | 173,156 |
| | 64,164 |
| | (221,113 | ) | | 217,802 |
| | | | | | | | | | | | | Long-term debt | — |
| | 586,000 |
| | — |
| | — |
| | — |
| | 586,000 |
| Deferred income taxes | — |
| | 70,230 |
| | 42,943 |
| | — |
| | — |
| | 113,173 |
| Intercompany long term liability | — |
| | 233,039 |
| | — |
| | — |
| | (233,039 | ) | | — |
| Intercompany long term note payable | — |
| | — |
| | 100,000 |
| | — |
| | (100,000 | ) | | — |
| Other long-term liabilities | — |
| | 69,962 |
| | 55,844 |
| | 12,379 |
| | — |
| | 138,185 |
| Stockholders' equity | 751,581 |
| | 797,163 |
| | 484,455 |
| | 105,239 |
| | (1,386,857 | ) | | 751,581 |
| Total liabilities and stockholders' equity | $ | 751,581 |
| | $ | 1,957,989 |
| | $ | 856,398 |
| | $ | 181,782 |
| | $ | (1,941,009 | ) | | $ | 1,806,741 |
|
As of December 28, 2013 (dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | ASSETS | | | | | | | | | | | | Current assets: | | | | | | | | | | | | Cash and cash equivalents | $ | — |
| | $ | 278,260 |
| | $ | — |
| | $ | 8,286 |
| | $ | — |
| | $ | 286,546 |
| Accounts receivable, net | — |
| | 163,264 |
| | 20,365 |
| | 9,982 |
| | — |
| | 193,611 |
| Intercompany receivable | — |
| | 62,802 |
| | 104,123 |
| | 12,385 |
| | (179,310 | ) | | — |
| Finished goods inventories, net | — |
| | 221,462 |
| | 181,889 |
| | 46,217 |
| | (31,814 | ) | | 417,754 |
| Prepaid expenses and other current assets | — |
| | 18,475 |
| | 11,878 |
| | 4,804 |
| | — |
| | 35,157 |
| Deferred income taxes | — |
| | 20,594 |
| | 15,893 |
| | 826 |
| | — |
| | 37,313 |
| Total current assets | — |
| | 764,857 |
| | 334,148 |
| | 82,500 |
| | (211,124 | ) | | 970,381 |
| Property, plant, and equipment, net | — |
| | 148,671 |
| | 133,846 |
| | 25,368 |
| | — |
| | 307,885 |
| Goodwill | — |
| | 136,570 |
| | — |
| | 49,507 |
| | — |
| | 186,077 |
| Tradenames and other intangibles, net | — |
| | 244,653 |
| | 85,500 |
| | 105 |
| | — |
| | 330,258 |
| Deferred debt issuance costs, net | — |
| | 8,088 |
| | — |
| | — |
| | — |
| | 8,088 |
| Other assets | — |
| | 9,743 |
| | 52 |
| | — |
| | — |
| | 9,795 |
| Intercompany long term receivable | — |
| | — |
| | 263,183 |
| | — |
| | (263,183 | ) | | — |
| Intercompany long term note receivable | — |
| | 100,000 |
| | — |
| | — |
| | (100,000 | ) | | — |
| Investment in subsidiaries | 700,731 |
| | 547,186 |
| | 1,502 |
| | — |
| | (1,249,419 | ) | | — |
| Total assets | $ | 700,731 |
| | $ | 1,959,768 |
| | $ | 818,231 |
| | $ | 157,480 |
| | $ | (1,823,726 | ) | | $ | 1,812,484 |
| | | | | | | | | | | | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | Accounts payable | $ | — |
| | $ | 108,851 |
| | $ | 40,825 |
| | $ | 14,334 |
| | $ | — |
| | $ | 164,010 |
| Intercompany payables | — |
| | 100,804 |
| | 70,857 |
| | 7,649 |
| | (179,310 | ) | | — |
| Other current liabilities | — |
| | 29,037 |
| | 57,610 |
| | 18,482 |
| | — |
| | 105,129 |
| Total current liabilities | — |
| | 238,692 |
| | 169,292 |
| | 40,465 |
| | (179,310 | ) | | 269,139 |
| | | | | | | | | | | | | Long-term debt | — |
| | 586,000 |
| | — |
| | — |
| | — |
| | 586,000 |
| Deferred income taxes | — |
| | 77,798 |
| | 43,636 |
| | — |
| | — |
| | 121,434 |
| Intercompany long term liability | — |
| | 263,183 |
| | — |
| | — |
| | (263,183 | ) | | — |
| Intercompany long term note payable | — |
| | — |
| | 100,000 |
| | — |
| | (100,000 | ) | | — |
| Other long-term liabilities | — |
| | 61,550 |
| | 55,175 |
| | 18,455 |
| | — |
| | 135,180 |
| Stockholders' equity | 700,731 |
| | 732,545 |
| | 450,128 |
| | 98,560 |
| | (1,281,233 | ) | | 700,731 |
| Total liabilities and stockholders' equity | $ | 700,731 |
| | $ | 1,959,768 |
| | $ | 818,231 |
| | $ | 157,480 |
| | $ | (1,823,726 | ) | | $ | 1,812,484 |
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As of September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | ASSETS | | | | | | | | | | | | Current assets: | | | | | | | | | | | | Cash and cash equivalents | $ | — |
| | $ | 180,781 |
| | $ | 7,701 |
| | $ | 13,337 |
| | $ | — |
| | $ | 201,819 |
| Accounts receivable, net | — |
| | 215,063 |
| | 23,252 |
| | 7,295 |
| | — |
| | 245,610 |
| Intercompany receivable | — |
| | 75,439 |
| | 63,413 |
| | 9,639 |
| | (148,491 | ) | | — |
| Finished goods inventories, net | — |
| | 224,245 |
| | 219,760 |
| | 42,760 |
| | (46,319 | ) | | 440,446 |
| Prepaid expenses and other current assets | — |
| | 6,148 |
| | 13,204 |
| | 3,520 |
| | — |
| | 22,872 |
| Deferred income taxes | — |
| | 25,044 |
| | 7,328 |
| | 1,084 |
| | — |
| | 33,456 |
| Total current assets | — |
| | 726,720 |
| | 334,658 |
| | 77,635 |
| | (194,810 | ) | | 944,203 |
| Property, plant, and equipment, net | — |
| | 116,964 |
| | 113,767 |
| | 25,494 |
| | — |
| | 256,225 |
| Goodwill | — |
| | 136,570 |
| | — |
| | 51,436 |
| | — |
| | 188,006 |
| Tradenames and other intangibles, net | — |
| | 250,969 |
| | 85,500 |
| | 127 |
| | — |
| | 336,596 |
| Deferred debt issuance costs, net | — |
| | 7,961 |
| | — |
| | — |
| | — |
| | 7,961 |
| Other assets | — |
| | 4,513 |
| | 53 |
| | — |
| | — |
| | 4,566 |
| Intercompany long term receivable | — |
| | — |
| | 158,777 |
| | — |
| | (158,777 | ) | | — |
| Investment in subsidiaries | 658,923 |
| | 551,277 |
| | 8,705 |
| | — |
| | (1,218,905 | ) | | — |
| Total assets | $ | 658,923 |
| | $ | 1,794,974 |
| | $ | 701,460 |
| | $ | 154,692 |
| | $ | (1,572,492 | ) | | $ | 1,737,557 |
| | | | | | | | | | | | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | | | | | | | Current liabilities: | | | | | | | | | | | | Accounts payable | $ | — |
| | $ | 119,740 |
| | $ | 29,238 |
| | $ | 9,622 |
| | $ | — |
| | $ | 158,600 |
| Intercompany payables | — |
| | 55,051 |
| | 75,724 |
| | 17,716 |
| | (148,491 | ) | | — |
| Other current liabilities | — |
| | 38,122 |
| | 31,922 |
| | 15,063 |
| | — |
| | 85,107 |
| Total current liabilities | — |
| | 212,913 |
| | 136,884 |
| | 42,401 |
| | (148,491 | ) | | 243,707 |
| Long-term debt | — |
| | 586,000 |
| | — |
| | — |
| | — |
| | 586,000 |
| Deferred income taxes | — |
| | 74,170 |
| | 36,538 |
| | — |
| | — |
| | 110,708 |
| Intercompany long term liability | — |
| | 158,777 |
| | — |
| | — |
| | (158,777 | ) | | — |
| Other long-term liabilities | — |
| | 57,872 |
| | 62,566 |
| | 17,781 |
| | — |
| | 138,219 |
| Stockholders' equity | 658,923 |
| | 705,242 |
| | 465,472 |
| | 94,510 |
| | (1,265,224 | ) | | 658,923 |
| Total liabilities and stockholders' equity | $ | 658,923 |
| | $ | 1,794,974 |
| | $ | 701,460 |
| | $ | 154,692 |
| | $ | (1,572,492 | ) | | $ | 1,737,557 |
|
|
Condensed Consolidating Statements of Operations and Comprehensive Income |
Condensed Consolidating Statements of Operations
For the fiscal quarter ended September 27, 2014 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net sales | $ | — |
| | $ | 523,572 |
| | $ | 410,161 |
| | $ | 66,731 |
| | $ | (201,528 | ) | | $ | 798,936 |
| Cost of goods sold | — |
| | 372,575 |
| | 248,442 |
| | 39,513 |
| | (182,800 | ) | | 477,730 |
| Gross profit | — |
| | 150,997 |
| | 161,719 |
| | 27,218 |
| | (18,728 | ) | | 321,206 |
| Selling, general, and administrative expenses | — |
| | 54,524 |
| | 154,631 |
| | 20,618 |
| | (7,834 | ) | | 221,939 |
| Royalty income | — |
| | (8,607 | ) | | (5,628 | ) | | — |
| | 3,045 |
| | (11,190 | ) | Operating income | — |
| | 105,080 |
| | 12,716 |
| | 6,600 |
| | (13,939 | ) | | 110,457 |
| Interest expense | — |
| | 6,841 |
| | 1,298 |
| | 145 |
| | (1,441 | ) | | 6,843 |
| Interest income | — |
| | (1,465 | ) | | — |
| | (21 | ) | | 1,441 |
| | (45 | ) | (Income) loss in subsidiaries | (65,886 | ) | | (5,451 | ) | | (3,256 | ) | | — |
| | 74,593 |
| | — |
| Other (income) expense, net | — |
| | (89 | ) | | 93 |
| | 1,307 |
| | — |
| | 1,311 |
| Income (loss) before income taxes | 65,886 |
| | 105,244 |
| | 14,581 |
| | 5,169 |
| | (88,532 | ) | | 102,348 |
| Provision for income taxes | — |
| | 25,419 |
| | 9,648 |
| | 1,395 |
| | — |
| | 36,462 |
| Net income (loss) | $ | 65,886 |
| | $ | 79,825 |
| | $ | 4,933 |
| | $ | 3,774 |
| | $ | (88,532 | ) | | $ | 65,886 |
|
For the fiscal quarter ended September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net sales | $ | — |
| | $ | 498,079 |
| | $ | 391,706 |
| | $ | 63,227 |
| | $ | (192,839 | ) | | $ | 760,173 |
| Cost of goods sold | — |
| | 360,223 |
| | 214,701 |
| | 31,956 |
| | (156,356 | ) | | 450,524 |
| Gross profit | — |
| | 137,856 |
| | 177,005 |
| | 31,271 |
| | (36,483 | ) | | 309,649 |
| Selling, general, and administrative expenses | — |
| | 58,050 |
| | 179,231 |
| | 24,402 |
| | (32,419 | ) | | 229,264 |
| Royalty income | — |
| | (8,066 | ) | | (5,246 | ) | | — |
| | 2,621 |
| | (10,691 | ) | Operating income | — |
| | 87,872 |
| | 3,020 |
| | 6,869 |
| | (6,685 | ) | | 91,076 |
| Interest expense | — |
| | 4,106 |
| | — |
| | 27 |
| | — |
| | 4,133 |
| Interest income | — |
| | (133 | ) | | 3 |
| | (8 | ) | | — |
| | (138 | ) | (Income) loss in subsidiaries | (56,571 | ) | | 5,969 |
| | (1,917 | ) | | — |
| | 52,519 |
| | — |
| Other expense (income), net | — |
| | 20 |
| | (24 | ) | | (51 | ) | | — |
| | (55 | ) | Income (loss) before income taxes | 56,571 |
| | 77,910 |
| | 4,958 |
| | 6,901 |
| | (59,204 | ) | | 87,136 |
| Provision for income taxes | — |
| | 14,654 |
| | 13,402 |
| | 2,509 |
| | — |
| | 30,565 |
| Net income (loss) | $ | 56,571 |
| | $ | 63,256 |
| | $ | (8,444 | ) | | $ | 4,392 |
| | $ | (59,204 | ) | | $ | 56,571 |
|
For the three fiscal quarters ended September 27, 2014 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net sales | $ | — |
| | $ | 1,269,456 |
| | $ | 1,057,542 |
| | $ | 164,894 |
| | $ | (467,247 | ) | | $ | 2,024,645 |
| Cost of goods sold | — |
| | 913,112 |
| | 624,036 |
| | 95,317 |
| | (436,228 | ) | | 1,196,237 |
| Gross profit | — |
| | 356,344 |
| | 433,506 |
| | 69,577 |
| | (31,019 | ) | | 828,408 |
| Selling, general, and administrative expenses | — |
| | 144,119 |
| | 454,600 |
| | 64,020 |
| | (24,390 | ) | | 638,349 |
| Royalty income | — |
| | (22,584 | ) | | (13,823 | ) | | — |
| | 7,131 |
| | (29,276 | ) | Operating income | — |
| | 234,809 |
| | (7,271 | ) | | 5,557 |
| | (13,760 | ) | | 219,335 |
| Interest expense | — |
| | 20,620 |
| | 3,909 |
| | 189 |
| | (4,095 | ) | | 20,623 |
| Interest income | — |
| | (4,386 | ) | | — |
| | (26 | ) | | 4,095 |
| | (317 | ) | (Income) loss in subsidiaries | (126,079 | ) | | 25,344 |
| | (10,034 | ) | | — |
| | 110,769 |
| | — |
| Other (income) expense, net | — |
| | (224 | ) | | 208 |
| | 1,734 |
| | — |
| | 1,718 |
| Income (loss) before income taxes | 126,079 |
| | 193,455 |
| | (1,354 | ) | | 3,660 |
| | (124,529 | ) | | 197,311 |
| Provision for income taxes | — |
| | 53,616 |
| | 15,569 |
| | 2,047 |
| | — |
| | 71,232 |
| Net income (loss) | $ | 126,079 |
| | $ | 139,839 |
| | $ | (16,923 | ) | | $ | 1,613 |
| | $ | (124,529 | ) | | $ | 126,079 |
|
For the three fiscal quarters ended September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net sales | $ | — |
| | $ | 1,200,956 |
| | $ | 1,005,936 |
| | $ | 150,649 |
| | $ | (488,485 | ) | | $ | 1,869,056 |
| Cost of goods sold | — |
| | 855,876 |
| | 557,699 |
| | 73,505 |
| | (390,980 | ) | | 1,096,100 |
| Gross profit | — |
| | 345,080 |
| | 448,237 |
| | 77,144 |
| | (97,505 | ) | | 772,956 |
| Selling, general, and administrative expenses | — |
| | 161,348 |
| | 475,951 |
| | 65,660 |
| | (93,320 | ) | | 609,639 |
| Royalty income | — |
| | (20,687 | ) | | (12,741 | ) | | — |
| | 5,988 |
| | (27,440 | ) | Operating income | — |
| | 204,419 |
| | (14,973 | ) | | 11,484 |
| | (10,173 | ) | | 190,757 |
| Interest expense | — |
| | 6,654 |
| | — |
| | 27 |
| | — |
| | 6,681 |
| Interest income | — |
| | (395 | ) | | — |
| | (128 | ) | | — |
| | (523 | ) | (Income) loss in subsidiaries | (117,659 | ) | | 21,199 |
| | (3,314 | ) | | — |
| | 99,774 |
| | — |
| Other (income) expense, net | — |
| | (141 | ) | | 162 |
| | 1,028 |
| | — |
| | 1,049 |
| Income (loss) before income taxes | 117,659 |
| | 177,102 |
| | (11,821 | ) | | 10,557 |
| | (109,947 | ) | | 183,550 |
| Provision for income taxes | — |
| | 49,270 |
| | 12,481 |
| | 4,140 |
| | — |
| | 65,891 |
| Net income (loss) | $ | 117,659 |
| | $ | 127,832 |
| | $ | (24,302 | ) | | $ | 6,417 |
| | $ | (109,947 | ) | | $ | 117,659 |
|
Condensed Consolidating Statements of Comprehensive Income
For the fiscal quarter ended September 27, 2014 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) | | $ | 65,886 |
| | $ | 79,825 |
| | $ | 4,933 |
| | $ | 3,774 |
| | $ | (88,532 | ) | | $ | 65,886 |
| Foreign currency translation adjustments | | (3,577 | ) | | (3,577 | ) | | (7 | ) | | (3,577 | ) | | 7,161 |
| | (3,577 | ) | Comprehensive income (loss) | | $ | 62,309 |
| | $ | 76,248 |
| | $ | 4,926 |
| | $ | 197 |
| | $ | (81,371 | ) | | $ | 62,309 |
|
For the fiscal quarter ended September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) | | $ | 56,571 |
| | $ | 63,256 |
| | $ | (8,444 | ) | | $ | 4,392 |
| | $ | (59,204 | ) | | $ | 56,571 |
| Foreign currency translation adjustments | | 1,676 |
| | 1,676 |
| | 27 |
| | 1,676 |
| | (3,379 | ) | | 1,676 |
| Comprehensive income (loss) | | $ | 58,247 |
| | $ | 64,932 |
| | $ | (8,417 | ) | | $ | 6,068 |
| | $ | (62,583 | ) | | $ | 58,247 |
|
For the three fiscal quarters ended September 27, 2014 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) | | $ | 126,079 |
| | $ | 139,839 |
| | $ | (16,923 | ) | | $ | 1,613 |
| | $ | (124,529 | ) | | $ | 126,079 |
| Foreign currency translation adjustments | | (3,545 | ) | | (3,545 | ) | | (140 | ) | | (3,545 | ) | | 7,230 |
| | (3,545 | ) | Comprehensive income (loss) | | $ | 122,534 |
| | $ | 136,294 |
| | $ | (17,063 | ) | | $ | (1,932 | ) | | $ | (117,299 | ) | | $ | 122,534 |
|
For the three fiscal quarters ended September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Net income (loss) | | $ | 117,659 |
| | $ | 127,832 |
| | $ | (24,302 | ) | | $ | 6,417 |
| | $ | (109,947 | ) | | $ | 117,659 |
| Foreign currency translation adjustments | | (2,326 | ) | | (2,326 | ) | | 231 |
| | (2,326 | ) | | 4,421 |
| | (2,326 | ) | Comprehensive income (loss) | | $ | 115,333 |
| | $ | 125,506 |
| | $ | (24,071 | ) | | $ | 4,091 |
| | $ | (105,526 | ) | | $ | 115,333 |
|
|
Condensed Consolidating Statements of Cash Flows |
Condensed Consolidating Statements of Cash Flows
For the three fiscal quarters ended September 27, 2014 (dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Cash flows provided by (used in) operating activities: | | $ | — |
| | $ | 23,632 |
| | $ | 9,458 |
| | $ | (8,163 | ) | | $ | — |
| | $ | 24,927 |
| | | | | | | | | | | | | | Cash flows from investing activities: | | | | | | | | | | | | | Capital expenditures | | — |
| | (38,659 | ) | | (37,123 | ) | | (7,852 | ) | | — |
| | (83,634 | ) | Intercompany investing activity | | 89,923 |
| | 14,700 |
| | (2,502 | ) | | (8,901 | ) | | (93,220 | ) | | — |
| Issuance of intercompany loan | | — |
| | (35,000 | ) | | — |
| | — |
| | 35,000 |
| | — |
| Proceeds from sale of property, plant and equipment | | — |
| | 140 |
| | — |
| | 3 |
| | — |
| | 143 |
| Net cash provided by (used in) investing activities | | 89,923 |
| | (58,819 | ) | | (39,625 | ) | | (16,750 | ) | | (58,220 | ) | | (83,491 | ) | | | | | | | | | | | | | | Cash flows from financing activities: | | | | | | | | | | | | | Intercompany financing activity | | — |
| | (129,182 | ) | | 33,373 |
| | 2,589 |
| | 93,220 |
| | — |
| Proceeds from intercompany loan | | — |
| | — |
| | — |
| | 35,000 |
| | (35,000 | ) | | — |
| Payment on debt issuance costs | | — |
| | (145 | ) | | — |
| | — |
| | — |
| | (145 | ) | Payment of contingent consideration | | — |
| | (8,901 | ) | | — |
| | — |
| | — |
| | (8,901 | ) | Dividends paid | | (30,453 | ) | | — |
| | — |
| | — |
| | — |
| | (30,453 | ) | Repurchase of common stock | | (62,769 | ) | | — |
| | — |
| | — |
| | — |
| | (62,769 | ) | Income tax benefit from stock-based compensation | | — |
| | 1,854 |
| | 2,502 |
| | — |
| | — |
| | 4,356 |
| Withholdings from vesting of restricted stock | | (4,472 | ) | | — |
| | — |
| | — |
| | — |
| | (4,472 | ) | Proceeds from exercise of stock options | | 7,771 |
| | — |
| | — |
| | — |
| | — |
| | 7,771 |
| Net cash (used in) provided by financing activities | | (89,923 | ) | | (136,374 | ) | | 35,875 |
| | 37,589 |
| | 58,220 |
| | (94,613 | ) | Effect of exchange rate changes on cash | | — |
| | — |
| | — |
| | 277 |
| | — |
| | 277 |
| Net (decrease) increase in cash and cash equivalents | | — |
| | (171,561 | ) | | 5,708 |
| | 12,953 |
| | — |
| | (152,900 | ) | Cash and cash equivalents, beginning of period | | — |
| | 278,260 |
| | — |
| | 8,286 |
| | — |
| | 286,546 |
| Cash and cash equivalents, end of period | | $ | — |
| | $ | 106,699 |
| | $ | 5,708 |
| | $ | 21,239 |
| | $ | — |
| | $ | 133,646 |
|
For the three fiscal quarters ended September 28, 2013 (dollars in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Parent | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Consolidating Adjustments | | Consolidated | Cash flows provided by (used in) operating activities: | | $ | — |
| | $ | 39,268 |
| | $ | 16,290 |
| | $ | 7,908 |
| | $ | — |
| | $ | 63,466 |
| | | | | | | | | | | | | | Cash flows from investing activities: | | | | | | | | | | | | | Capital expenditures | | — |
| | (85,963 | ) | | (34,899 | ) | | (8,766 | ) | | — |
| | (129,628 | ) | Acquisition of tradenames | | — |
| | (38,007 | ) | | — |
| | — |
| | — |
| | (38,007 | ) | Intercompany investing activity | | 465,688 |
| | 21,075 |
| | (6,448 | ) | | (14,722 | ) | | (465,593 | ) | | — |
| Net cash provided by (used in) investing activities | | 465,688 |
| | (102,895 | ) | | (41,347 | ) | | (23,488 | ) | | (465,593 | ) | | (167,635 | ) | | | | | | | | | | | | | | Cash flows from financing activities: | | | | | | | | | | | | | Proceeds from senior notes | | — |
| | 400,000 |
| | — |
| | — |
| | — |
| | 400,000 |
| Intercompany financing activity | | — |
| | (493,097 | ) | | 21,898 |
| | 5,606 |
| | 465,593 |
| | — |
| Dividends Paid | | (18,988 | ) | | — |
| | — |
| | — |
| | — |
| | (18,988 | ) | Payment on debt issuance costs | | — |
| | (6,487 | ) | | — |
| | — |
| | — |
| | (6,487 | ) | Payment of contingent consideration | | — |
| | (14,721 | ) | | — |
| | — |
| | — |
| | (14,721 | ) | Income tax benefit from stock-based compensation | | — |
| | 6,855 |
| | 3,920 |
| | — |
| | — |
| | 10,775 |
| Repurchase of common stock | | (454,133 | ) | | — |
| | — |
| | — |
| | — |
| | (454,133 | ) | Withholdings from vesting of restricted stock | | (4,991 | ) | | — |
| | — |
| | — |
| | — |
| | (4,991 | ) | Proceeds from exercise of stock options | | 12,424 |
| | — |
| | — |
| | — |
| | — |
| | 12,424 |
| Net cash (used in) provided by financing activities | | (465,688 | ) | | (107,450 | ) | | 25,818 |
| | 5,606 |
| | 465,593 |
| | (76,121 | ) | Effect of exchange rate changes on cash | | — |
| | — |
| | — |
| | (127 | ) | | — |
| | (127 | ) | Net (decrease) increase in cash and cash equivalents | | — |
| | (171,077 | ) | | 761 |
| | (10,101 | ) | | — |
| | (180,417 | ) | Cash and cash equivalents, beginning of period | | — |
| | 351,858 |
| | 6,940 |
| | 23,438 |
| | — |
| | 382,236 |
| Cash and cash equivalents, end of period | | $ | — |
| | $ | 180,781 |
| | $ | 7,701 |
| | $ | 13,337 |
| | $ | — |
| | $ | 201,819 |
|
|