Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 29, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet December 28, 2014 (Unaudited) (in millions)
	Parent Company		Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	28.7	$	(6.0	)	$	12.0	$	—		$	34.7
Accounts receivable, net	—		217.7			30.5		—			248.2
Amounts due from affiliated companies	341.9		—			—		(341.9		)	—
Inventoried costs	—		49.9			18.1		—			68.0
Other current assets	4.4		16.3			3.3		—			24.0
Total current assets	375.0		277.9			63.9		(341.9		)	374.9
Property, plant and equipment, net	2.0		70.6			10.0		—			82.6
Goodwill	—		572.4			24.0		—			596.4
Intangible assets, net	—		52.2			0.1		—			52.3
Investment in subsidiaries	498.3		48.3			—		(546.6		)	—
Amounts due from affiliated companies	—		3.2			—		(3.2		)	—
Other assets	27.8		4.6			0.2		—			32.6
Total assets	$	903.1	$	1,029.2		$	98.2	$	(891.7	)	$	1,138.8
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.1	$	40.4		$	4.9	$	—		$	48.4
Accrued expenses	6.3		30.2			3.3		—			39.8
Accrued compensation	5.2		37.7			3.5		—			46.4
Billings in excess of costs and earnings on uncompleted contracts	—		47.0			5.1		—			52.1
Deferred income tax liability	—		30.3			—		—			30.3
Amounts due to affiliated companies	—		306.6			35.3		(341.9		)	—
Other current liabilities	1.0		6.5			1.6		—			9.1
Total current liabilities	15.6		498.7			53.7		(341.9		)	226.1
Long-term debt, net of current portion	660.2					2.8		—			663.0
Amounts due to affiliated companies	—		—			3.2		(3.2		)	—
Other long-term liabilities	3.0		20.2			2.2		—			25.4
Total liabilities	678.8		518.9			61.9		(345.1		)	914.5
Total stockholders' equity	224.3		510.3			36.3		(546.6		)	224.3
Total liabilities and stockholders' equity	$	903.1	$	1,029.2		$	98.2	$	(891.7	)	$	1,138.8

Condensed Consolidating Balance Sheet March 29, 2015 (Unaudited) (in millions)
	Parent Company		Guarantors on a Combined Basis		Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	21.6	$	0.4	$	12.4		$	—		$	34.4
Accounts receivable, net	—		209.7		28.9			—			238.6
Amounts due from affiliated companies	347.1		—		—			(347.1		)	—
Inventoried costs	—		51.9		20.2			—			72.1
Other current assets	2.9		14.7		3.5			—			21.1
Total current assets	371.6		276.7		65.0			(347.1		)	366.2
Amounts due from affiliated companies, long-term	—		3.2		—			(3.2		)	—
Property, plant and equipment, net	1.9		69.7		9.9			—			81.5
Goodwill	—		572.4		24.0			—			596.4
Intangible assets, net	—		47.7		—			—			47.7
Investment in subsidiaries	499.4		52.7		—			(552.1		)	—
Other assets	27.4		3.3		0.1			—			30.8
Total assets	$	900.3	$	1,025.7	$	99.0		$	(902.4	)	$	1,122.6
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.5	$	34.4	$	4.6		$	—		$	42.5
Accrued expenses	17.4		26.6		4.0			—			48.0
Accrued compensation	3.3		32.2		3.7			—			39.2
Billings in excess of costs and earnings on uncompleted contracts	—		52.0		4.5			—			56.5
Deferred income tax liability	—		30.3		(0.1		)	—			30.2
Amounts due to affiliated companies	—		314.8		32.3			(347.1		)	—
Other current liabilities	0.6		4.6		1.4			—			6.6
Total current liabilities	24.8		494.9		50.4			(347.1		)	223.0
Long-term debt, net of current portion	660.5		—		2.5			—			663.0
Amounts due to affiliated companies	—		—		3.2			(3.2		)	—
Other long-term liabilities	3.5		19.4		2.2			—			25.1
Total liabilities	688.8		514.3		58.3			(350.3		)	911.1
Total stockholders' equity	211.5		511.4		40.7			(552.1		)	211.5
Total liabilities and stockholders' equity	$	900.3	$	1,025.7	$	99.0		$	(902.4	)	$	1,122.6

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

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 30, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	98.3		$	2.3		$	—		$	100.6
Product sales	—			86.3			16.6			(3.4		)	99.5
Total revenues	—			184.6			18.9			(3.4		)	200.1
Cost of service revenues	—			72.4			1.7			—			74.1
Cost of product sales	—			64.9			11.9			(3.4		)	73.4
Total costs	—			137.3			13.6			(3.4		)	147.5
Gross profit	—			47.3			5.3			—			52.6
Selling, general and administrative expenses	5.0			35.8			3.3			—			44.1
Research and development expenses	—			4.7			0.5			—			5.2
Operating income (loss) from continuing operations	(5.0		)	6.8			1.5			—			3.3
Other income (expense):
Interest expense, net	(16.0		)	—			(0.1		)	—			(16.1		)
Other income (expense), net	(0.1		)	0.1			0.2			—			0.2
Total other income and expense, net	(16.1		)	0.1			0.1			—			(15.9		)
Income (loss) from continuing operations before income taxes	(21.1		)	6.9			1.6			—			(12.6		)
Provision for income taxes from continuing operations	0.3			1.9			0.1			—			2.3
Income (loss) from continuing operations	(21.4		)	5.0			1.5			—			(14.9		)
Loss from discontinued operations	—			(0.1		)	—			—			(0.1		)
Equity in net income (loss) of subsidiaries	6.4			1.5			—			(7.9		)	—
Net income (loss)	$	(15.0	)	$	6.4		$	1.5		$	(7.9	)	$	(15.0	)
Comprehensive income (loss)	$	(15.1	)	$	6.4		$	1.4		$	(7.8	)	$	(15.1	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 29, 2015 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	85.4		$	2.0	$	—		$	87.4
Product sales	—			82.9			15.2		(3.0		)	95.1
Total revenues	—			168.3			17.2		(3.0		)	182.5
Cost of service revenues	—			64.5			1.5		—			66.0
Cost of product sales	—			62.0			10.6		(3.0		)	69.6
Total costs	—			126.5			12.1		(3.0		)	135.6
Gross profit	—			41.8			5.1		—			46.9
Selling, general and administrative expenses	5.1			35.4			3.1		—			43.6
Research and development expenses	—			4.6			0.2		—			4.8
Operating income (loss) from continuing operations	(5.1		)	1.8			1.8		—			(1.5		)
Other income (expense):
Interest expense, net	(12.1		)	(0.1		)	—		—			(12.2		)
Other income (expense), net	—			(3.1		)	2.7		—			(0.4		)
Total other income and expense, net	(12.1		)	(3.2		)	2.7		—			(12.6		)
Income (loss) from continuing operations before income taxes	(17.2		)	(1.4		)	4.5		—			(14.1		)
Provision for income taxes from continuing operations	0.3			2.0			0.1		—			2.4
Income (loss) from continuing operations	(17.5		)	(3.4		)	4.4		—			(16.5		)
Income from discontinued operations	0.1			0.1			—		—			0.2
Equity in net income (loss) of subsidiaries	1.1			4.4			—		(5.5		)	—
Net income (loss)	$	(16.3	)	$	1.1		$	4.4	$	(5.5	)	$	(16.3	)
Comprehensive income (loss)	$	(16.5	)	$	1.1		$	4.2	$	(5.3	)	$	(16.5	)

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Three Months Ended March 30, 2014 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(2.4	)	$	5.1		$	(1.0	)	$	—		$	1.7
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			(1.6		)	—			—			(1.6		)
Investment in affiliated companies	(0.5		)	(0.6		)	—			1.1			—
Capital expenditures	(0.3		)	(2.2		)	(0.6		)	—			(3.1		)
Net cash provided by (used in) investing activities from continuing operations	(0.8		)	(4.4		)	(0.6		)	1.1			(4.7		)
Financing activities:
Repayment of debt	—			—			(0.2		)	—			(0.2		)
Financing from affiliated companies	—			—			1.1			(1.1		)	—
Other, net	1.6			—			—			—			1.6
Net cash provided by (used in) financing activities from continuing operations	1.6			—			0.9			(1.1		)	1.4
Net cash flows of continuing operations	(1.6		)	0.7			(0.7		)	—			(1.6		)
Net operating cash flows from discontinued operations	—			(0.5		)	—			—			(0.5		)
Net increase (decrease) in cash and cash equivalents	$	(1.6	)	$	0.2		$	(0.7	)	$	—		$	(2.1	)

Condensed Consolidating Statement of Cash Flows Three Months Ended March 29, 2015 (Unaudited) (in millions)
	Parent Company			Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities	$	(3.3	)	$	(0.7	)	$	1.1		$	—		$	(2.9	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			—			—			—			—
Investment in affiliated companies	(5.4		)	—			—			5.4			—
(Increase) decrease in restricted cash	—			3.8			—			—			3.8
Capital expenditures	(0.1		)	(1.9		)	(0.2		)	—			(2.2		)
Net cash provided by (used in) investing activities from continuing operations	(5.5		)	1.9			(0.2		)	5.4			1.6
Financing activities:
Repayment of debt	—			—			(0.2		)	—			(0.2		)
Financings from affiliated companies	—			5.4			—			(5.4		)	—
Other, net	1.7			—			—			—			1.7
Net cash provided by (used in) financing activities from continuing operations	1.7			5.4			(0.2		)	(5.4		)	1.5
Net cash flows of continuing operations	(7.1		)	6.6			0.7			—			0.2
Net operating cash flows from discontinued operations	—			(0.2		)	—			—			(0.2		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.3		)	—			(0.3		)
Net increase (decrease) in cash and cash equivalents	$	(7.1	)	$	6.4		$	0.4		$	—		$	(0.3	)