Supplemental Consolidating Financial Statements (Tables)

6 Months Ended

Jan. 26, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Balance Sheet

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) JANUARY 26, 2013
	Parent		Issuer		Subsidiary Guarantors		Non- Guarantor Subsidiaries		Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
ASSETS
CURRENT ASSETS:
Cash and equivalents	$	—	$	—	$	21,528	$	1,062	$	—		$	22,590
Accounts receivable, net	—		—		226,569		844		—			227,413
Costs and estimated earnings in excess of billings	—		—		147,537		965		—			148,502
Inventories	—		—		34,909		—		—			34,909
Deferred tax assets, net	2,604		—		13,161		69		(412		)	15,422
Income taxes receivable	6,925		—		—		—		—			6,925
Other current assets	7,258		39		6,038		588		—			13,923
Total current assets	16,787		39		449,742		3,528		(412		)	469,684
PROPERTY AND EQUIPMENT, NET	12,850		—		158,945		15,447		—			187,242
GOODWILL	—		—		262,989		—		—			262,989
INTANGIBLE ASSETS, NET	—		—		134,306		—		—			134,306
DEFERRED TAX ASSETS, NET NON-CURRENT	—		65		5,531		815		(6,411		)	—
INVESTMENT IN SUBSIDIARIES	747,775		1,441,693		—		—		(2,189,468		)	—
INTERCOMPANY RECEIVABLES	—		—		650,826		—		(650,826		)	—
OTHER	9,232		6,503		2,698		155		—			18,588
TOTAL NON-CURRENT ASSETS	769,857		1,448,261		1,215,295		16,417		(2,846,705		)	603,125
TOTAL ASSETS	$	786,644	$	1,448,300	$	1,665,037	$	19,945	$	(2,847,117	)	$	1,072,809
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	3,715	$	—	$	58,619	$	1,832	$	—		$	64,166
Current portion of debt	6,250		—		—		—		—			6,250
Billings in excess of costs and estimated earnings	—		—		11,386		—		—			11,386
Accrued insurance claims	587		—		25,625		101		—			26,313
Deferred tax liabilities	—		248		86		78		(412		)	—
Other accrued liabilities	5,471		1,055		62,647		786		—			69,959
Total current liabilities	16,023		1,303		158,363		2,797		(412		)	178,074
LONG-TERM DEBT	138,750		281,283		—		—		—			420,033
ACCRUED INSURANCE CLAIMS	719		—		22,873		101		—			23,693
DEFERRED TAX LIABILITIES, NET NON-CURRENT	908		—		52,355		1,248		(6,411		)	48,100
INTERCOMPANY PAYABLES	228,940		417,939		—		3,947		(650,826		)	—
OTHER LIABILITIES	2,932		—		1,603		2		—			4,537
Total liabilities	388,272		700,525		235,194		8,095		(657,649		)	674,437
Total stockholders' equity	398,372		747,775		1,429,843		11,850		(2,189,468		)	398,372
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	786,644	$	1,448,300	$	1,665,037	$	19,945	$	(2,847,117	)	$	1,072,809

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET JULY 28, 2012
	Parent		Issuer		Subsidiary Guarantors		Non- Guarantor Subsidiaries		Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
ASSETS
CURRENT ASSETS:
Cash and equivalents	$	—	$	—	$	51,563	$	1,018	$	—		$	52,581
Accounts receivable, net	—		—		140,426		1,362		—			141,788
Costs and estimated earnings in excess of billings	—		—		125,869		1,452		—			127,321
Inventories	—		—		26,274		—		—			26,274
Deferred tax assets, net	2,390		—		13,566		80		(403		)	15,633
Income taxes receivable	4,884		—		—		—		—			4,884
Other current assets	2,211		10		5,458		787		—			8,466
Total current assets	9,485		10		363,156		4,699		(403		)	376,947
PROPERTY AND EQUIPMENT, NET	9,671		—		133,145		15,431		—			158,247
GOODWILL	—		—		174,849		—		—			174,849
INTANGIBLE ASSETS, NET	—		—		49,773		—		—			49,773
DEFERRED TAX ASSETS, NET NON-CURRENT	—		65		9,341		1,085		(10,491		)	—
INVESTMENT IN SUBSIDIARIES	734,451		1,425,451		—		—		(2,159,902		)	—
INTERCOMPANY RECEIVABLES	—		—		860,758		54		(860,812		)	—
OTHER	6,075		4,338		1,731		233		—			12,377
TOTAL NON-CURRENT ASSETS	750,197		1,429,854		1,229,597		16,803		(3,031,205		)	395,246
TOTAL ASSETS	$	759,682	$	1,429,864	$	1,592,753	$	21,502	$	(3,031,608	)	$	772,193
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	2,785	$	—	$	33,441	$	597	$	—		$	36,823
Current portion of debt	—		—		74		—		—			74
Billings in excess of costs and estimated earnings	—		—		1,522		—		—			1,522
Accrued insurance claims	588		—		24,551		79		—			25,218
Deferred tax liabilities	—		249		84		70		(403		)	—
Other accrued liabilities	5,054		565		43,772		1,535		—			50,926
Total current liabilities	8,427		814		103,444		2,281		(403		)	114,563
LONG-TERM DEBT	—		187,500		—		—		—			187,500
ACCRUED INSURANCE CLAIMS	708		—		22,815		68		—			23,591
DEFERRED TAX LIABILITIES, NET NON-CURRENT	1,020		—		57,140		1,868		(10,491		)	49,537
INTERCOMPANY PAYABLES	353,713		507,099		—		—		(860,812		)	—
OTHER LIABILITIES	2,883		—		1,185		3		—			4,071
Total liabilities	366,751		695,413		184,584		4,220		(871,706		)	379,262
Total stockholders' equity	392,931		734,451		1,408,169		17,282		(2,159,902		)	392,931
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	759,682	$	1,429,864	$	1,592,753	$	21,502	$	(3,031,608	)	$	772,193

Schedule of Condensed Income Statement

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) FOR THE THREE MONTHS ENDED JANUARY 26, 2013
	Parent			Issuer			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract Revenues	$	—		$	—		$	366,797		$	2,529		$	—		$	369,326
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			299,106			2,410			—			301,516
General and administrative	14,900			148			21,279			2,500			—			38,827
Depreciation and amortization	639			—			18,969			1,211			—			20,819
Intercompany charges (income), net	(17,380		)	—			17,718			(338		)	—			—
Total	(1,841		)	148			357,072			5,783			—			361,162
Interest expense, net	(1,523		)	(4,224		)	(1		)	—			—			(5,748		)
Other income, net	(318		)	—			756			(10		)	—			428
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	—			(4,372		)	10,480			(3,264		)	—			2,844
PROVISION (BENEFIT) FOR INCOME TAXES	—			(1,808		)	4,540			(1,351		)	—			1,381
NET INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES	—			(2,564		)	5,940			(1,913		)	—			1,463
EQUITY IN EARNINGS OF SUBSIDIARIES	1,463			4,027			—			—			(5,490		)	—
NET INCOME (LOSS)	$	1,463		$	1,463		$	5,940		$	(1,913	)	$	(5,490	)	$	1,463
Foreign currency translation gain	11			11			—			11			(22		)	11
COMPREHENSIVE INCOME (LOSS)	$	1,474		$	1,474		$	5,940		$	(1,902	)	$	(5,512	)	$	1,474

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) FOR THE SIX MONTHS ENDED JANUARY 26, 2013
	Parent			Issuer			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract Revenues	$	—		$	—		$	685,822		$	6,791		$	—		$	692,613
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			552,650			5,932			—			558,582
General and administrative	23,309			295			38,895			5,153			—			67,652
Depreciation and amortization	1,380			—			32,255			2,495			—			36,130
Intercompany charges (income), net	(27,306		)	—			27,990			(684		)	—			—
Total	(2,617		)	295			651,790			12,896			—			662,364
Interest expense, net	(2,299		)	(7,644		)	(3		)	—			—			(9,946		)
Other income, net	(318		)	—			2,321			39			—			2,042
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	—			(7,939		)	36,350			(6,066		)	—			22,345
PROVISION (BENEFIT) FOR INCOME TAXES	—			(3,205		)	14,676			(2,449		)	—			9,022
NET INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES	—			(4,734		)	21,674			(3,617		)	—			13,323
EQUITY IN EARNINGS OF SUBSIDIARIES	13,323			18,057			—			—			(31,380		)	—
NET INCOME (LOSS)	$	13,323		$	13,323		$	21,674		$	(3,617	)	$	(31,380	)	$	13,323
Foreign currency translation gain	13			13			—			13			(26		)	13
COMPREHENSIVE INCOME (LOSS)	$	13,336		$	13,336		$	21,674		$	(3,604	)	$	(31,406	)	$	13,336

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) FOR THE THREE MONTHS ENDED JANUARY 28, 2012
	Parent			Issuer			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract revenues	$	—		$	—		$	264,275	$	3,132		$	—		$	267,407
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			217,730		2,509			—			220,239
General and administrative	6,171			148			15,429		2,527			—			24,275
Depreciation and amortization	768			—			13,692		1,068			—			15,528
Intercompany charges (income), net	(7,701		)	—			7,548		153			—			—
Total	(762		)	148			254,399		6,257			—			260,042
Interest income (expense), net	(768		)	(3,413		)	4		—			—			(4,177		)
Other income (expense), net	6			—			2,352		(1		)	—			2,357
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	—			(3,561		)	12,232		(3,126		)	—			5,545
PROVISION (BENEFIT) FOR INCOME TAXES	—			(1,392		)	4,675		(1,223		)	—			2,060
NET INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES	—			(2,169		)	7,557		(1,903		)	—			3,485
EQUITY IN EARNINGS OF SUBSIDIARIES	3,485			5,654			—		—			(9,139		)	—
NET INCOME (LOSS)	$	3,485		$	3,485		$	7,557	$	(1,903	)	$	(9,139	)	$	3,485
Foreign currency translation loss	(58		)	(58		)	—		(58		)	116			(58		)
COMPREHENSIVE INCOME (LOSS)	$	3,427		$	3,427		$	7,557	$	(1,961	)	$	(9,023	)	$	3,427

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) FOR THE SIX MONTHS ENDED JANUARY 28, 2012
	Parent			Issuer			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract revenues	$	—		$	—		$	578,092	$	8,889		$	—		$	586,981
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			468,623		6,803			—			475,426
General and administrative	12,578			295			31,832		4,928			—			49,633
Depreciation and amortization	1,556			—			27,552		2,390			(12		)	31,486
Intercompany charges (income), net	(15,666		)	—			15,044		622			—			—
Total	(1,532		)	295			543,051		14,743			(12		)	556,545
Interest income (expense), net	(1,538		)	(6,827		)	15		—			—			(8,350		)
Other income (expense), net	6			—			5,413		(102		)	—			5,317
INCOME (LOSS) BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES	—			(7,122		)	40,469		(5,956		)	12			27,403
PROVISION (BENEFIT) FOR INCOME TAXES	—			(2,832		)	16,151		(2,367		)	—			10,952
NET INCOME (LOSS) BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES	—			(4,290		)	24,318		(3,589		)	12			16,451
EQUITY IN EARNINGS OF SUBSIDIARIES	16,451			20,741			—		—			(37,192		)	—
NET INCOME (LOSS)	$	16,451		$	16,451		$	24,318	$	(3,589	)	$	(37,180	)	$	16,451
Foreign currency translation loss	(144		)	(144		)	—		(144		)	288			(144		)
COMPREHENSIVE INCOME (LOSS)	$	16,307		$	16,307		$	24,318	$	(3,733	)	$	(36,892	)	$	16,307

Schedule of Condensed Cash Flow Statement

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) FOR THE SIX MONTHS ENDED JANUARY 26, 2013
	Parent			Issuer			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(832	)	$	(4,200	)	$	96,059		$	214		$	—		$	91,241
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	—			—			(314,771		)	—			—			(314,771		)
Capital Expenditures	(4,508		)	—			(22,275		)	(2,246		)	—			(29,029		)
Proceed from sale of assets	—			—			2,798			47			—			2,845
Return of capital from (investment in) subsidiaries	—			1,816			—			—			(1,816		)	—
Changes in restricted cash	(31		)	—			—			—			—			(31		)
Net cash used in )provided by) investing activities	(4,539		)	1,816			(334,248		)	(2,199		)	(1,816		)	(340,986		)
Cash flows from financing activities:
Proceeds from issuance of 7.125% senior subordinated notes due 2021, (including $3.8 million premium)	—			93,825			—			—			—			93,825
Proceeds from borrowings on Senior Credit Agreement	180,500			—			—			—			—			180,500
Proceeds from Term Loan on Senior Credit Agreement	125,000			—			—			—			—			125,000
Principal payments on Senior Credit Agreement	(160,500		)	—			—			—			—			(160,500		)
Debt issuance costs	(4,128		)	(2,281		)	—			—			—			(6,409		)
Repurchases of common stock	(15,203		)	—			—			—			—			(15,203		)
Exercise of stock options and other	2,890			—			—			—			—			2,890
Restricted stock tax withholdings	(885		)	—			—			—			—			(885		)
Excess tax benefit from share-based awards	610			—			—			—			—			610
Principal payments on capital lease obligations	—			—			(74		)	—			—			(74		)
Intercompany funding	(122,913		)	(89,160		)	208,228			2,029			1,816			—
Net cash provided by (used in) financing activities	5,371			2,384			208,154			2,029			1,816			219,754
Net increase (decrease) in cash and equivalents	—			—			(30,035		)	44			—			(29,991		)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	—			—			51,563			1,018			—			52,581
CASH AND EQUIVALENTS AT END OF PERIOD	$	—		$	—		$	21,528		$	1,062		$	—		$	22,590

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) FOR THE SIX MONTHS ENDED JANUARY 28, 2012
	Parent			Issuer			Subsidiary Guarantors			Non- Guarantor Subsidiaries			Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	(1,992	)	$	(4,490	)	$	78,123		$	(790	)	$	—		$	70,851
Cash flows from investing activities:
Capital expenditures	(1,723		)	—			(39,406		)	(2,309		)	—			(43,438		)
Proceeds from sale of assets	—			—			8,908			34			—			8,942
Changes in restricted cash	550			—			—			—			—			550
Capital contributions to subsidiaries	—			6,501			—			—			(6,501		)	—
Net cash provided by (used in) investing activities	(1,173		)	6,501			(30,498		)	(2,275		)	(6,501		)	(33,946		)
Cash flows from financing activities:
Principal payments on capital lease obligations	—			—			(140		)	—			—			(140		)
Exercise of stock options and other	4,013			—			—			—			—			4,013
Restricted stock tax withholdings	(328		)	—			—			—			—			(328		)
Excess tax benefit from share-based awards	979			—			—			—			—			979
Intercompany funding	(1,499		)	(2,011		)	(6,780		)	3,789			6,501			—
Net cash provided by (used in) financing activities	3,165			(2,011		)	(6,920		)	3,789			6,501			4,524
Net increase in cash and equivalents	—			—			40,705			724			—			41,429
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	—			—			44,608			158			—			44,766
CASH AND EQUIVALENTS AT END OF PERIOD	$	—		$	—		$	85,313		$	882		$	—		$	86,195