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GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - (Tables) - Summit Materials, LLC
3 Months Ended
Apr. 01, 2023
Schedule of Condensed Consolidating Balance Sheets
Condensed Consolidating Balance Sheets
April 1, 2023
     
  Non-  
 Issuers
Guarantors 
Guarantors 
Eliminations 
Consolidated
Assets     
Current assets:     
Cash and cash equivalents$352,581 $2,713 $27,633 $(3,470)$379,457 
Accounts receivable, net2,066 213,534 21,042 (73)236,569 
Intercompany receivables320,454 1,935,271 — (2,255,725)— 
Cost and estimated earnings in excess of billings— 12,689 1,698 — 14,387 
Inventories— 228,260 6,304 — 234,564 
Other current assets11,751 13,094 1,068 — 25,913 
Total current assets686,852 2,405,561 57,745 (2,259,268)890,890 
Property, plant and equipment, net23,419 1,762,834 81,159 — 1,867,412 
Goodwill— 1,103,845 56,680 — 1,160,525 
Intangible assets, net— 66,125 4,360 — 70,485 
Operating lease right-of-use assets4,463 27,447 4,728 — 36,638 
Other assets4,671,809 206,025 1,258 (4,833,569)45,523 
Total assets$5,386,543 $5,571,837 $205,930 $(7,092,837)$4,071,473 
Liabilities and Members' Interest
Current liabilities:
Current portion of debt$5,096 $— $— $— $5,096 
Current portion of acquisition-related liabilities— 7,243 — — 7,243 
Accounts payable3,711 125,906 9,272 (73)138,816 
Accrued expenses37,547 57,127 2,359 (3,470)93,563 
Current operating lease liabilities981 5,841 693 — 7,515 
Intercompany payables1,731,965 521,961 1,799 (2,255,725)— 
Billings in excess of costs and estimated earnings— 3,684 549 — 4,233 
Total current liabilities1,779,300 721,762 14,672 (2,259,268)256,466 
Long-term debt1,487,783 — — — 1,487,783 
Acquisition-related liabilities— 22,939 — — 22,939 
Noncurrent operating lease liabilities8,493 21,953 3,869 — 34,315 
Other noncurrent liabilities5,821 206,075 117,349 (164,421)164,824 
Total liabilities3,281,397 972,729 135,890 (2,423,689)1,966,327 
Total members' interest2,105,146 4,599,108 70,040 (4,669,148)2,105,146 
Total liabilities and members' interest$5,386,543 $5,571,837 $205,930 $(7,092,837)$4,071,473 
        
Condensed Consolidating Balance Sheets
December 31, 2022
 
     
  Non-  
 Issuers
Guarantors 
Guarantors 
Eliminations 
Consolidated
Assets     
Current assets:     
Cash and cash equivalents$498,307 $2,864 $26,298 $(7,018)$520,451 
Accounts receivable, net1,528 233,039 22,127 (25)256,669 
Intercompany receivables329,744 1,937,390 — (2,267,134)— 
Cost and estimated earnings in excess of billings— 5,861 649 — 6,510 
Inventories— 206,418 6,073 — 212,491 
Other current assets4,755 16,341 1,159 — 22,255 
Total current assets834,334 2,401,913 56,306 (2,274,177)1,018,376 
Property, plant and equipment, net21,306 1,710,972 81,424 — 1,813,702 
Goodwill— 1,076,935 56,611 — 1,133,546 
Intangible assets, net— 66,972 4,412 — 71,384 
Operating lease right-of-use assets4,665 28,310 4,914 — 37,889 
Other assets4,599,488 204,644 1,220 (4,760,543)44,809 
Total assets$5,459,793 $5,489,746 $204,887 $(7,034,720)$4,119,706 
Liabilities and Members' Interest
Current liabilities:
Current portion of debt$5,096 $— $— $— $5,096 
Current portion of acquisition-related liabilities— 13,718 — — 13,718 
Accounts payable3,553 93,096 7,806 (25)104,430 
Accrued expenses54,417 70,433 2,876 (7,018)120,708 
Current operating lease liabilities921 5,637 738 — 7,296 
Intercompany payables1,750,352 513,494 3,288 (2,267,134)— 
Billings in excess of costs and estimated earnings— 4,956 783 — 5,739 
Total current liabilities1,814,339 701,334 15,491 (2,274,177)256,987 
Long-term debt1,488,569 — — — 1,488,569 
Acquisition-related liabilities— 29,051 — — 29,051 
Noncurrent operating lease liabilities8,726 22,871 4,140 — 35,737 
Other noncurrent liabilities5,009 208,185 117,439 (164,421)166,212 
Total liabilities3,316,643 961,441 137,070 (2,438,598)1,976,556 
Total members' interest2,143,150 4,528,305 67,817 (4,596,122)2,143,150 
Total liabilities and members' interest$5,459,793 $5,489,746 $204,887 $(7,034,720)$4,119,706 
Schedule of Condensed Consolidating Statements of Operations
Condensed Consolidating Statements of Operations
For the three months ended April 1, 2023
 
     
  Non-  
 Issuers
Guarantors 
Guarantors 
Eliminations
Consolidated 
Revenue$— $408,422 $27,761 $(795)$435,388 
Cost of revenue (excluding items shown separately below)— 335,210 19,622 (795)354,037 
General and administrative expenses15,221 28,947 1,764 — 45,932 
Depreciation, depletion, amortization and accretion988 47,153 2,753 — 50,894 
Operating (loss) income(16,209)(2,888)3,622 — (15,475)
Other income, net(19,147)(277)(508)14,715 (5,217)
Interest expense (income)39,845 (13,795)1,370 — 27,420 
(Loss) income from operation before taxes(36,907)11,184 2,760 (14,715)(37,678)
Income tax expense (benefit)304 (1,510)739 — (467)
Net (loss) income attributable to Summit LLC$(37,211)$12,694 $2,021 $(14,715)$(37,211)
Comprehensive (loss) income attributable to member of Summit Materials, LLC$(37,008)$12,694 $1,818 $(14,512)$(37,008)

Condensed Consolidating Statements of Operations
For the three months ended April 2, 2022
 
     
  Non-  
 Issuers
Guarantors 
GuarantorsEliminationsConsolidated
Revenue$— $395,180 $27,097 $(1,330)$420,947 
Cost of revenue (excluding items shown separately below)— 334,264 20,446 (1,330)353,380 
General and administrative expenses17,304 31,672 1,693 — 50,669 
Depreciation, depletion, amortization and accretion750 47,496 2,947 — 51,193 
Operating (loss) income(18,054)(18,252)2,011 — (34,295)
Other income, net(5,919)(552)(7)5,782 (696)
Interest expense (income)33,902 (15,123)1,370 — 20,149 
Gain on sale of business— (14,205)— — (14,205)
(Loss) income from operation before taxes(46,037)11,628 648 (5,782)(39,543)
Income tax expense350 6,318 176 — 6,844 
Net (loss) income attributable to Summit LLC$(46,387)$5,310 $472 $(5,782)$(46,387)
Comprehensive (loss) income attributable to member of Summit Materials, LLC$(44,643)$5,310 $(1,272)$(4,038)$(44,643)
Schedule of Condensed Consolidating Statements of Cash Flows
Condensed Consolidating Statements of Cash Flows
For the three months ended April 1, 2023
 
     
  Non-  
 Issuers
Guarantors 
GuarantorsEliminationsConsolidated
Net cash (used in) provided by operating activities$(55,528)$49,394 $6,469 $— $335 
Cash flow from investing activities:
Acquisitions, net of cash acquired— (55,477)— — (55,477)
Purchase of property, plant and equipment(2,895)(58,356)(2,333)— (63,584)
Proceeds from the sale of property, plant, and equipment— 1,777 — — 1,777 
Other— (1,045)— — (1,045)
Net cash (used for) provided by investing activities(2,895)(113,101)(2,333)— (118,329)
Cash flow from financing activities:
Capital distributions to member(55,870)55,885 — — 15 
Loans received from and payments made on loans from other Summit Companies(25,853)24,951 (2,646)3,548 — 
Payments on long-term debt(1,274)(3,140)— — (4,414)
Payments on acquisition-related liabilities— (11,374)— — (11,374)
Debt issuance costs(1,566)— — — (1,566)
Other(2,740)(2,766)(213)— (5,719)
Net cash (used in) provided by financing activities(87,303)63,556 (2,859)3,548 (23,058)
Impact of cash on foreign currency— — 58 — 58 
Net (decrease) increase in cash(145,726)(151)1,335 3,548 (140,994)
Cash — Beginning of period498,307 2,864 26,298 (7,018)520,451 
Cash — End of period$352,581 $2,713 $27,633 $(3,470)$379,457 
Condensed Consolidating Statements of Cash Flows
For the three months ended April 2, 2022
 
     
  Non-  
 Issuers
Guarantors 
GuarantorsEliminationsConsolidated
Net cash (used in) provided by operating activities$(48,551)$25,873 $5,965 $— $(16,713)
Cash flow from investing activities:
Purchase of property, plant and equipment(459)(55,522)(1,793)— (57,774)
Proceeds from the sale of property, plant, and equipment— 1,360 79 — 1,439 
Proceeds from the sale of a business— 47,821 — — 47,821 
Other— (857)— — (857)
Net cash used for investing activities(459)(7,198)(1,714)— (9,371)
Cash flow from financing activities:
Capital distributions to member(47,482)— — — (47,482)
Loans received from and payments made on loans from other Summit Companies4,703 (2,052)(3,353)702 — 
Payments on long-term debt(1,588)(6,015)— — (7,603)
Payments on acquisition-related liabilities— (11,397)— — (11,397)
Other(1,180)— — — (1,180)
Net cash used in financing activities(45,547)(19,464)(3,353)702 (67,662)
Impact of cash on foreign currency— — 177 — 177 
Net (decrease) increase in cash(94,557)(789)1,075 702 (93,569)
Cash — Beginning of period365,044 2,264 18,337 (4,684)380,961 
Cash — End of period$270,487 $1,475 $19,412 $(3,982)$287,392