Guarantor/Non-Guarantor Condensed Consolidated Financial Statements (Tables)

6 Months Ended

Jun. 30, 2013

Guarantor Non Guarantor Condensed Consolidated Financial Statements [Abstract]

Supplemental Guarantor Condensed Consolidated Balance Sheets

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in thousands)

	June 30, 2013
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	12,491		$	(1,771	)	$	6,856		$	—		$	17,576
Receivables, net of allowance	1,019			148,452			41,533			(413		)	190,591
Intercompany receivable (payable)	(24,836		)	51,869			(27,033		)	—			—
Deferred income taxes	680			7,088			4,462			—			12,230
Inventory	—			6,740			5,964			—			12,704
Prepaid expenses and other current assets	1,362			6,357			1,171			—			8,890
Total current assets	(9,284		)	218,735			32,953			(413		)	241,991
Net property and equipment	4,072			902,764			89,351			(750		)	995,437
Investment in subsidiaries	1,021,444			117,269			—			(1,138,713		)	—
Intangible assets, net of accumulated amortization	72			36,313			—			—			36,385
Noncurrent deferred income taxes	64,938			—			1,095			(64,938		)	1,095
Other long-term assets	8,543			2,228			5,854			—			16,625
Total assets	$	1,089,785		$	1,277,309		$	129,253		$	(1,204,814	)	$	1,291,533
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,680		$	42,203		$	3,233		(413		)	$	46,703
Current portion of long-term debt	—			23			—			—			23
Deferred revenues	—			1,916			450			—			2,366
Accrued expenses	14,630			52,177			7,254			—			74,061
Total current liabilities	16,310			96,319			10,937			(413		)	123,153
Long-term debt, less current portion	549,089			95			—			—			549,184
Noncurrent deferred income taxes	—			154,044			—			(64,938		)	89,106
Other long-term liabilities	189			5,407			1,047			—			6,643
Total liabilities	565,588			255,865			11,984			(65,351		)	768,086
Total shareholders’ equity	524,197			1,021,444			117,269			(1,139,463		)	523,447
Total liabilities and shareholders’ equity	$	1,089,785		$	1,277,309		$	129,253		$	(1,204,814	)	$	1,291,533
	December 31, 2012
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	18,479		$	(5,401	)	$	10,655		$	—		$	23,733
Receivables, net of allowance	440			129,570			29,128			(294		)	158,844
Intercompany receivable (payable)	(124,516		)	146,652			(22,136		)	—			—
Deferred income taxes	869			8,162			2,027			—			11,058
Inventory	—			5,956			6,155			—			12,111
Prepaid expenses and other current assets	655			9,163			3,222			—			13,040
Total current assets	(104,073		)	294,102			29,051			(294		)	218,786
Net property and equipment	3,474			921,393			90,223			(750		)	1,014,340
Investment in subsidiaries	1,122,814			114,416			—			(1,237,230		)	—
Intangible assets, net of accumulated amortization	68			43,775			—			—			43,843
Goodwill	—			41,683			—			—			41,683
Noncurrent deferred income taxes	51,834			—			5,519			(51,834		)	5,519
Other long-term assets	9,582			2,340			3,683			—			15,605
Total assets	$	1,083,699		$	1,417,709		$	128,476		$	(1,290,108	)	$	1,339,776
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1,558		$	76,828		$	5,437		$	—		$	83,823
Current portion of long-term debt	—			872			—			—			872
Deferred revenues	—			1,954			1,926			—			3,880
Accrued expenses	14,905			48,892			4,472			(294		)	67,975
Total current liabilities	16,463			128,546			11,835			(294		)	156,550
Long-term debt, less current portion	518,618			107			—			—			518,725
Noncurrent deferred income taxes	(4		)	160,676			—			(51,834		)	108,838
Other long-term liabilities	192			5,566			2,225			—			7,983
Total liabilities	535,269			294,895			14,060			(52,128		)	792,096
Total shareholders’ equity	548,430			1,122,814			114,416			(1,237,980		)	547,680
Total liabilities and shareholders’ equity	$	1,083,699		$	1,417,709		$	128,476		$	(1,290,108	)	$	1,339,776

Supplemental Guarantor Condensed Consolidated Statements of Operations

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands)

	Three months ended June 30, 2013
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	217,727		$	30,627		$	—		$	248,354
Costs and expenses:
Operating costs	—			138,783			20,798			—			159,581
Depreciation and amortization	282			43,745			3,321			—			47,348
General and administrative	6,085			17,030			791			(138		)	23,768
Intercompany leasing	—			(1,215		)	1,215			—			—
Bad debt expense (recovery)	67			70			—			—			137
Impairment charges	—			44,788			—			—			44,788
Total costs and expenses	6,434			243,201			26,125			(138		)	275,622
Income (loss) from operations	(6,434		)	(25,474		)	4,502			138			(27,268		)
Other income (expense):
Equity in earnings of subsidiaries	(13,455		)	1,511			—			11,944			—
Interest expense	(12,341		)	—			10			—			(12,331		)
Other	1			574			(1,686		)	(138		)	(1,249		)
Total other expense (income)	(25,795		)	2,085			(1,676		)	11,806			(13,580		)
Income (loss) before income taxes	(32,229		)	(23,389		)	2,826			11,944			(40,848		)
Income tax expense (benefit)	6,334			9,934			(1,315		)	—			14,953
Net income (loss)	$	(25,895	)	$	(13,455	)	$	1,511		$	11,944		$	(25,895	)
	Three months ended June 30, 2012
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	193,332		$	36,492		$	—		$	229,824
Costs and expenses:
Operating costs	—			116,644			27,670			—			144,314
Depreciation and amortization	292			33,800			5,897			—			39,989
General and administrative	5,552			14,339			2,512			(138		)	22,265
Intercompany leasing	—			(1,215		)	1,199			16			—
Bad debt expense (recovery)	—			(95		)	39			—			(56		)
Total costs and expenses	5,844			163,473			37,317			(122		)	206,512
Income (loss) from operations	(5,844		)	29,859			(825		)	122			23,312
Other income (expense):
Equity in earnings of subsidiaries	17,970			(387		)	—			(17,583		)	—
Interest expense	(7,695		)	43			2			—			(7,650		)
Other	(72		)	250			(36		)	(122		)	20
Total other income (expense)	10,203			(94		)	(34		)	(17,705		)	(7,630		)
Income (loss) before income taxes	4,359			29,765			(859		)	(17,583		)	15,682
Income tax expense (benefit)	5,326			(11,795		)	472			—			(5,997		)
Net income (loss)	$	9,685		$	17,970		$	(387	)	$	(17,583	)	$	9,685

	Six months ended June 30, 2013
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	416,622		$	61,402		$	—		$	478,024
Costs and expenses:
Operating costs	—			267,845			41,187			—			309,032
Depreciation and amortization	534			86,447			6,652			—			93,633
General and administrative	11,511			34,162			1,579			(276		)	46,976
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt expense (recovery)	67			351			—			—			418
Impairment charges	—			44,788			—			—			44,788
Total costs and expenses	12,112			431,163			51,848			(276		)	494,847
Income (loss) from operations	(12,112		)	(14,541		)	9,554			276			(16,823		)
Other (expense) income:
Equity in earnings of subsidiaries	(4,266		)	3,853			—			413			—
Interest expense	(23,790		)	(20		)	17			—			(23,793		)
Other	2			857			(2,653		)	(276		)	(2,070		)
Total other (expense) income	(28,054		)	4,690			(2,636		)	137			(25,863		)
Income (loss) before income taxes	(40,166		)	(9,851		)	6,918			413			(42,686		)
Income tax (expense) benefit	12,979			5,585			(3,065		)	—			15,499
Net income (loss)	$	(27,187	)	$	(4,266	)	$	3,853		$	413		$	(27,187	)
	Six months ended June 30, 2012
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	384,174		$	77,628		$	—		$	461,802
Costs and expenses:
Operating costs	—			231,585			54,502			—			286,087
Depreciation and amortization	457			66,489			11,416			—			78,362
General and administrative	11,060			27,371			5,253			(276		)	43,408
Intercompany leasing	—			(2,430		)	2,430			—			—
Bad debt expense (recovery)	—			(275		)	128			—			(147		)
Impairment charges	—			1,032			—			—			1,032
Total costs and expenses	11,517			323,772			73,729			(276		)	408,742
Income (loss) from operations	(11,517		)	60,402			3,899			276			53,060
Other (expense) income:
Equity in earnings of subsidiaries	41,520			4,261			—			(45,781		)	—
Interest expense	(17,208		)	3			—			—			(17,205		)
Other	(140		)	500			868			(276		)	952
Total other (expense) income	24,172			4,764			868			(46,057		)	(16,253		)
Income (loss) before income taxes	12,655			65,166			4,767			(45,781		)	36,807
Income tax (expense) benefit	11,202			(23,646		)	(506		)	—			(12,950		)
Net income (loss)	$	23,857		$	41,520		$	4,261		$	(45,781	)	$	23,857

Supplemental Guarantor Condensed Consolidated Statements of Cash Flows

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in thousands)

	Six months ended June 30, 2013
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Cash flows from operating activities	$	(34,534	)	$	102,709		$	2,502		$	70,677
Cash flows from investing activities:
Purchases of property and equipment	(1,602		)	(103,574		)	(7,003		)	(112,179		)
Proceeds from sale of property and equipment	—			5,357			702			6,059
	(1,602		)	(98,217		)	(6,301		)	(106,120		)
Cash flows from financing activities:
Debt repayments	(10,000		)	(862		)	—			(10,862		)
Proceeds from issuance of debt	40,000			—			—			40,000
Debt issuance costs	(13		)	—			—			(13		)
Proceeds from exercise of options	789			—			—			789
Purchase of treasury stock	(628		)	—			—			(628		)
	30,148			(862		)	—			29,286
Net increase (decrease) in cash and cash equivalents	(5,988		)	3,630			(3,799		)	(6,157		)
Beginning cash and cash equivalents	18,479			(5,401		)	10,655			23,733
Ending cash and cash equivalents	$	12,491		$	(1,771	)	$	6,856		$	17,576
	Six months ended June 30, 2012
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated
Cash flows from operating activities	$	(105,441	)	$	181,850		$	15,289		$	91,698
Cash flows from investing activities:
Purchases of property and equipment	(998		)	(172,671		)	(20,215		)	(193,884		)
Proceeds from sale of property and equipment	—			1,885			72			1,957
	(998		)	(170,786		)	(20,143		)	(191,927		)
Cash flows from financing activities:
Debt repayments	—			(850		)	(13		)	(863		)
Proceeds from issuance of debt	35,000			—			—			35,000
Debt issuance costs	(23		)	—			—			(23		)
Proceeds from exercise of options	655			—			—			655
Purchase of treasury stock	(357		)	—			—			(357		)
	35,275			(850		)	(13		)	34,412
Net increase (decrease) in cash and cash equivalents	(71,164		)	10,214			(4,867		)	(65,817		)
Beginning cash and cash equivalents	91,932			(13,879		)	8,144			86,197
Ending cash and cash equivalents	$	20,768		$	(3,665	)	$	3,277		$	20,380