Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 27, 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		Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	28.7	$	(5.5	)	$	10.3	$	—		$	33.5
Accounts receivable, net	—		196.4			21.1		—			217.5
Amounts due from affiliated companies	341.9		—			—		(341.9		)	—
Inventoried costs	—		32.2			15.2		—			47.4
Other current assets	4.4		15.5			2.8		—			22.7
Current assets of discontinued operations	—		38.7			15.1		—			53.8
Total current assets	375.0		277.3			64.5		(341.9		)	374.9
Property, plant and equipment, net	2.0		52.0			7.6		—			61.6
Goodwill	—		442.6			40.8		—			483.4
Intangible assets, net	—		49.4			0.1		—			49.5
Investment in subsidiaries	498.3		48.1			—		(546.4		)	—
Other assets	27.8		4.6			—		—			32.4
Non-current assets of discontinued operations	—		134.5			2.5		—			137.0
Total assets	$	903.1	$	1,008.5		$	115.5	$	(888.3	)	$	1,138.8
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	3.1	$	37.1		$	4.4	$	—		$	44.6
Accrued expenses	6.3		28.9			2.8		—			38.0
Accrued compensation	5.2		32.7			3.2		—			41.1
Billings in excess of costs and earnings on uncompleted contracts	—		45.7			3.9		—			49.6
Deferred income tax liability	—		30.3			—		—			30.3
Amounts due to affiliated companies	—		287.4			54.5		(341.9		)	—
Other current liabilities	0.3		6.1			1.5		—			7.9
Current liabilities of discontinued operations	0.7		10.8			3.1		—			14.6
Total current liabilities	15.6		479.0			73.4		(341.9		)	226.1
Long-term debt, net of current portion	660.2		—			2.8		—			663.0
Other long-term liabilities	3.0		19.0			2.9		—			24.9
Non-current liabilities of discontinued operations	—		0.2			0.3		—			0.5
Total liabilities	678.8		498.2			79.4		(341.9		)	914.5
Total stockholders' equity	224.3		510.3			36.1		(546.4		)	224.3
Total liabilities and stockholders' equity	$	903.1	$	1,008.5		$	115.5	$	(888.3	)	$	1,138.8

Condensed Consolidating Balance Sheet September 27, 2015 (Unaudited) (in millions)
	Parent Company		Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Assets
Current Assets:
Cash and cash equivalents	$	30.6	$	(4.9	)	$	10.1	$	—		$	35.8
Accounts receivable, net	—		174.1			20.6		—			194.7
Amounts due from affiliated companies	201.1		—			—		(201.1		)	—
Inventoried costs	—		34.3			20.3		—			54.6
Other current assets	8.0		13.0			4.3		—			25.3
Current assets of discontinued operations	—		—			—		—			—
Total current assets	239.7		216.5			55.3		(201.1		)	310.4
Property, plant and equipment, net	1.8		52.0			6.9		—			60.7
Goodwill	—		442.6			40.8		—			483.4
Intangible assets, net	—		39.4			—		—			39.4
Investment in subsidiaries	476.3		56.6			—		(532.9		)	—
Other assets	25.1		2.4			0.1		—			27.6
Non-current assets of discontinued operations	—		—			—		—			—
Total assets	$	742.9	$	809.5		$	103.1	$	(734.0	)	$	921.5
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	2.8	$	21.1		$	4.2	$	—		$	28.1
Accrued expenses	13.2		22.0			3.2		—			38.4
Accrued compensation	3.2		23.7			3.1		—			30.0
Billings in excess of costs and earnings on uncompleted contracts	—		45.7			3.5		—			49.2
Deferred income tax liability	—		30.2			—		—			30.2
Amounts due to affiliated companies	—		161.6			39.5		(201.1		)	—
Other current liabilities	4.1		5.0			0.8		—			9.9
Current liabilities of discontinued operations	1.4		—			0.1		—			1.5
Total current liabilities	24.7		309.3			54.4		(201.1		)	187.3
Long-term debt, net of current portion	446.5		—			2.0		—			448.5
Other long-term liabilities	9.9		11.9			2.1		—			23.9
Non-current liabilities of discontinued operations	4.2		—			—		—			4.2
Total liabilities	485.3		321.2			58.5		(201.1		)	663.9
Total stockholders' equity	257.6		488.3			44.6		(532.9		)	257.6
Total liabilities and stockholders' equity	$	742.9	$	809.5		$	103.1	$	(734.0	)	$	921.5

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

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) For the Three Months Ended September 28, 2014 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	94.1		$	3.0	$	—		$	97.1
Product sales	—			81.1			14.3		(1.7		)	93.7
Total revenues	—			175.2			17.3		(1.7		)	190.8
Cost of service revenues	—			75.4			2.3		—			77.7
Cost of product sales	—			62.3			10.1		(1.7		)	70.7
Total costs	—			137.7			12.4		(1.7		)	148.4
Gross profit	—			37.5			4.9		—			42.4
Selling, general and administrative expenses	2.9			35.1			2.5		—			40.5
Research and development expenses	—			4.5			0.4		—			4.9
Operating income (loss) from continuing operations	(2.9		)	(2.1		)	2.0		—			(3.0		)
Other income (expense):
Interest income (expense), net	(8.8		)	0.1			—		—			(8.7		)
Other income (expense), net	—			0.1			0.1		—			0.2
Total other income (expense), net	(8.8		)	0.2			0.1		—			(8.5		)
Income (loss) from continuing operations before income taxes	(11.7		)	(1.9		)	2.1		—			(11.5		)
Provision (benefit) for income taxes from continuing operations	0.1			(1.0		)	0.7		—			(0.2		)
Income (loss) from continuing operations	(11.8		)	(0.9		)	1.4		—			(11.3		)
Income (loss) from discontinued operations	(3.2		)	2.3			1.3		—			0.4
Equity in net income (loss) of subsidiaries	4.1			2.7			—		(6.8		)	—
Net income (loss)	$	(10.9	)	$	4.1		$	2.7	$	(6.8	)	$	(10.9	)
Comprehensive income (loss)	$	(11.0	)	$	4.1		$	2.6	$	(6.7	)	$	(11.0	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended September 27, 2015 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	84.4		$	3.0	$	—		$	87.4
Product sales	—			61.5			14.0		(1.2		)	74.3
Total revenues	—			145.9			17.0		(1.2		)	161.7
Cost of service revenues	—			63.4			2.0		—			65.4
Cost of product sales	—			46.4			10.7		(1.2		)	55.9
Total costs	—			109.8			12.7		(1.2		)	121.3
Gross profit	—			36.1			4.3		—			40.4
Selling, general and administrative expenses	3.7			29.5			2.1		—			35.3
Research and development expenses	—			3.4			0.1		—			3.5
Operating income (loss) from continuing operations	(3.7		)	3.2			2.1		—			1.6
Other income (expense):
Interest income (expense), net	(9.5		)	—			—		—			(9.5		)
Loss on extinguishment of debt	(3.4		)	—			—		—			(3.4		)
Other income (expense), net	1.4			(1.1		)	—		—			0.3
Total other income (expense), net	(11.5		)	(1.1		)	—		—			(12.6		)
Income (loss) from continuing operations before income taxes	(15.2		)	2.1			2.1		—			(11.0		)
Provision for income taxes from continuing operations	(14.9		)	(1.1		)	0.7		—			(15.3		)
Income (loss) from continuing operations	(0.3		)	3.2			1.4		—			4.3
Income (loss) from discontinued operations	78.1			(27.3		)	—		—			50.8
Equity in net income (loss) of subsidiaries	(22.7		)	1.4			—		21.3			—
Net income (loss)	$	55.1		$	(22.7	)	$	1.4	$	21.3		$	55.1
Comprehensive income (loss)	$	55.2		$	(22.7	)	$	1.5	$	21.2		$	55.2

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine Months Ended September 28, 2014 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis		Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Service revenues	$	—		$	292.3	$	7.2		$	—		$	299.5
Product sales	—			239.1		38.9			(6.6		)	271.4
Total revenues	—			531.4		46.1			(6.6		)	570.9
Cost of service revenues	—			224.1		5.6			—			229.7
Cost of product sales	—			184.5		29.0			(6.6		)	206.9
Total costs	—			408.6		34.6			(6.6		)	436.6
Gross profit	—			122.8		11.5			—			134.3
Selling, general and administrative expenses	11.9			101.7		7.4			—			121.0
Research and development expenses	—			12.6		1.0			—			13.6
Operating income (loss) from continuing operations	(11.9		)	8.5		3.1			—			(0.3		)
Other income (expense):
Interest income (expense), net	(30.5		)	0.2		(0.2		)	—			(30.5		)
Loss on extinguishment of debt	(39.1		)	—		—			—			(39.1		)
Other income (expense), net	—			—		0.1			—			0.1
Total other income (expense), net	(69.6		)	0.2		(0.1		)	—			(69.5		)
Income (loss) from continuing operations before income taxes	(81.5		)	8.7		3.0			—			(69.8		)
Provision for income taxes from continuing operations	0.6			1.7		0.8			—			3.1
Income (loss) from continuing operations	(82.1		)	7.0		2.2			—			(72.9		)
Income (loss) from discontinued operations	(11.4		)	5.4		3.1			—			(2.9		)
Equity in net income (loss) of subsidiaries	17.7			5.3		—			(23.0		)	—
Net income (loss)	$	(75.8	)	$	17.7	$	5.3		$	(23.0	)	$	(75.8	)
Comprehensive income (loss)	$	(76.0	)	$	17.7	$	5.1		$	(22.8	)	$	(76.0	)

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine Months Ended September 27, 2015 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis		Eliminations			Consolidated
Service revenues	$	—		$	254.6		$	8.9	$	—		$	263.5
Product sales	—			186.5			37.0		(7.4		)	216.1
Total revenues	—			441.1			45.9		(7.4		)	479.6
Cost of service revenues	—			192.0			6.5		—			198.5
Cost of product sales	—			140.7			28.2		(7.4		)	161.5
Total costs	—			332.7			34.7		(7.4		)	360.0
Gross profit	—			108.4			11.2		—			119.6
Selling, general and administrative expenses	9.5			98.0			6.4		—			113.9
Research and development expenses	—			11.3			0.4		—			11.7
Operating income (loss) from continuing operations	(9.5		)	(0.9		)	4.4		—			(6.0		)
Other income (expense):
Interest income (expense), net	(27.1		)	(0.2		)	—		—			(27.3		)
Loss on extinguishment of debt	(3.4		)	—			—		—			(3.4		)
Other income (expense), net	—			(3.3		)	2.7		—			(0.6		)
Total other income (expense), net	(30.5		)	(3.5		)	2.7		—			(31.3		)
Income (loss) from continuing operations before income taxes	(40.0		)	(4.4		)	7.1		—			(37.3		)
Provision (benefit) for income taxes from continuing operations	(14.5		)	2.5			0.9		—			(11.1		)
Income (loss) from continuing operations	(25.5		)	(6.9		)	6.2		—			(26.2		)
Income (loss) from discontinued operations	71.3			(23.6		)	2.3		—			50.0
Equity in net income (loss) of subsidiaries	(22.0		)	8.5			—		13.5			—
Net income (loss)	$	23.8		$	(22.0	)	$	8.5	$	13.5		$	23.8
Comprehensive income (loss)	$	24.0		$	(22.0	)	$	8.7	$	13.3		$	24.0

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 28, 2014 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities from continuing operations	$	(31.1	)	$	20.9		$	(4.7	)	$	—		$	(14.9	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			(2.6		)	—			—			(2.6		)
Investment in affiliated companies	—			(9.9		)	—			9.9			—
Change in restricted cash	—			(0.1		)	—			—			(0.1		)
Capital expenditures	(0.6		)	(7.0		)	(0.8		)	—			(8.4		)
Net cash provided by (used in) investing activities from continuing operations	(0.6		)	(19.6		)	(0.8		)	9.9			(11.1		)
Financing activities:
Repayment of debt	—			—			(0.7		)	—			(0.7		)
Proceeds from the issuance of long-term debt	618.5			—			—			—			618.5
Extinguishment of long-term debt	(661.5		)	—			—			—			(661.5		)
Debt issuance costs	(8.5		)	—			—			—			(8.5		)
Credit agreement borrowings	41.0			—			—			—			41.0
Proceeds from the sale of employee stock purchase plan shares	3.9			—			—			—			3.9
Financing from affiliated companies	9.9			—			—			(9.9		)	—
Other, net	(0.6		)	—			—			—			(0.6		)
Net cash provided by (used in) financing activities from continuing operations	2.7			—			(0.7		)	(9.9		)	(7.9		)
Net cash flows of continuing operations	(29.0		)	1.3			(6.2		)	—			(33.9		)
Net operating cash flows from discontinued operations	—			(2.7		)	(0.4		)	—			(3.1		)
Net investing cash flows from discontinued operations	—			(0.8		)	(0.2		)	—			(1.0		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.1		)	—			(0.1		)
Net increase (decrease) in cash and cash equivalents	$	(29.0	)	$	(2.2	)	$	(6.9	)	$	—		$	(38.1	)

Condensed Consolidating Statement of Cash Flows Nine Months Ended September 27, 2015 (Unaudited) (in millions)
	Parent Company			Subsidiary Guarantors on a Combined Basis			Non-Guarantors on a Combined Basis			Eliminations			Consolidated
Net cash provided by (used in) operating activities from continuing operations	$	3.8		$	(28.9	)	$	1.7		$	—		$	(23.4	)
Investing activities:
Cash paid for acquisitions, net of cash acquired	—			—			—			—			—
Investment in affiliated companies	(29.9		)	—			—			29.9			—
Change in restricted cash	—			4.7			—			—			4.7
Proceeds from sale of assets	—			0.9			—			—			0.9
Capital expenditures	(0.5		)	(7.1		)	(0.5		)	—			(8.1		)
Net cash provided by (used in) investing activities from continuing operations	(30.4		)	(1.5		)	(0.5		)	29.9			(2.5		)
Financing activities:
Extinguishment of long-term debt	(175.0		)	—			—			—			(175.0		)
Repayment of debt	(41.0		)	—			(0.7		)	—			(41.7		)
Proceeds from the sale of employee stock purchase plan shares	4.0			—			—			—			4.0
Financings from affiliated companies	—			29.9			—			(29.9		)	—
Deferred acquisition payments	—			(0.7		)	—			—			(0.7		)
Other, net	(0.5		)	—			—			—			(0.5		)
Net cash provided by (used in) financing activities from continuing operations	(212.5		)	29.2			(0.7		)	(29.9		)	(213.9		)
Net cash flows of continuing operations	(239.1		)	(1.2		)	0.5			—			(239.8		)
Net operating cash flows from discontinued operations	—			2.2			(0.3		)	—			1.9
Net investing cash flows from discontinued operations	241.0			(0.4		)	(0.3		)	—			240.3
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.1		)	—			(0.1		)
Net increase (decrease) in cash and cash equivalents	$	1.9		$	0.6		$	(0.2	)	$	—		$	2.3