Supplemental Consolidating Financial Statements (Tables)

12 Months Ended

Jul. 25, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Balance Sheet

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET  JULY 25, 2015
	Parent		Issuer		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
ASSETS
Current assets:
Cash and equivalents	$	—	$	—	$	20,515	$	774	$	—		$	21,289
Accounts receivable, net	—		—		312,641		2,493		—			315,134
Costs and estimated earnings in excess of billings	—		—		273,544		1,186		—			274,730
Inventories	—		—		48,650		—		—			48,650
Deferred tax assets, net	2,939		—		17,745		69		(123		)	20,630
Other current assets	7,350		20		8,097		732		—			16,199
Total current assets	10,289		20		681,192		5,254		(123		)	696,632
Property and equipment, net	23,527		—		187,596		20,441		—			231,564
Goodwill	—		—		271,653		—		—			271,653
Intangible assets, net	—		—		120,926		—		—			120,926
Deferred tax assets, net non-current	—		72		3,951		827		(4,850		)	—
Investment in subsidiaries	893,940		2,348,292		—		—		(3,242,232		)	—
Intercompany receivables	—		—		1,347,896		—		(1,347,896		)	—
Other	17,460		4,940		11,598		4,091		—			38,089
Total non-current assets	934,927		2,353,304		1,943,620		25,359		(4,594,978		)	662,232
Total assets	$	945,216	$	2,353,324	$	2,624,812	$	30,613	$	(4,595,101	)	$	1,358,864
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	5,388	$	—	$	65,458	$	988	$	—		$	71,834
Current portion of debt	3,750		—		—		—		—			3,750
Billings in excess of costs and estimated earnings	—		—		16,896		—		—			16,896
Accrued insurance claims	156		—		35,624		44		—			35,824
Deferred tax liabilities	—		62		11		50		(123		)	—
Other accrued liabilities	22,428		504		73,389		2,085		—			98,406
Total current liabilities	31,722		566		191,378		3,167		(123		)	226,710
Long-term debt	241,500		280,341		—		—		—			521,841
Accrued insurance claims	53		—		51,391		32		—			51,476
Deferred tax liabilities, net non-current	1,430		363		48,734		1,711		(4,850		)	47,388
Intercompany payables	160,238		1,178,114		—		9,544		(1,347,896		)	—
Other liabilities	3,073		—		1,176		—		—			4,249
Total liabilities	438,016		1,459,384		292,679		14,454		(1,352,869		)	851,664
Total stockholders' equity	507,200		893,940		2,332,133		16,159		(3,242,232		)	507,200
Total liabilities and stockholders' equity	$	945,216	$	2,353,324	$	2,624,812	$	30,613	$	(4,595,101	)	$	1,358,864

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET JULY 26, 2014
	Parent		Issuer		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations and Reclassifications			Dycom Consolidated
	(Dollars in thousands)
ASSETS
Current assets:
Cash and equivalents	$	—	$	—	$	19,739	$	933	$	—		$	20,672
Accounts receivable, net	—		—		269,760		2,981		—			272,741
Costs and estimated earnings in excess of billings	—		—		228,541		2,028		—			230,569
Inventories	—		—		49,095		—		—			49,095
Deferred tax assets, net	3,822		—		16,193		87		(170		)	19,932
Other current assets	4,956		16		7,237		518		—			12,727
Total current assets	8,778		16		590,565		6,547		(170		)	605,736
Property and equipment, net	18,108		—		171,158		16,147		—			205,413
Goodwill	—		—		269,088		—		—			269,088
Intangible assets, net	—		—		115,483		633		—			116,116
Deferred tax assets, net non-current	182		—		3,884		15		(4,081		)	—
Investment in subsidiaries	809,617		1,540,338		1,621		—		(2,351,576		)	—
Intercompany receivables	—		—		628,443		—		(628,443		)	—
Other	7,748		5,636		2,466		151		—			16,001
Total non-current assets	835,655		1,545,974		1,192,143		16,946		(2,984,100		)	606,618
Total assets	$	844,433	$	1,545,990	$	1,782,708	$	23,493	$	(2,984,270	)	$	1,212,354
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	3,083	$	—	$	58,970	$	1,265	$	—		$	63,318
Current portion of debt	10,938		—		—		—		—			10,938
Billings in excess of costs and estimated earnings	—		—		13,882		—		—			13,882
Accrued insurance claims	612		—		31,599		49		—			32,260
Deferred tax liabilities	—		80		66		24		(170		)	—
Other accrued liabilities	12,668		566		61,284		1,616		—			76,134
Total current liabilities	27,301		646		165,801		2,954		(170		)	196,532
Long-term debt	166,125		280,738		—		—		—			446,863
Accrued insurance claims	778		—		32,959		45		—			33,782
Deferred tax liabilities, net non-current	—		432		48,593		417		(4,081		)	45,361
Intercompany payables	162,127		454,557		—		11,759		(628,443		)	—
Other liabilities	3,168		—		1,711		3		—			4,882
Total liabilities	359,499		736,373		249,064		15,178		(632,694		)	727,420
Total stockholders' equity	484,934		809,617		1,533,644		8,315		(2,351,576		)	484,934
Total liabilities and stockholders' equity	$	844,433	$	1,545,990	$	1,782,708	$	23,493	$	(2,984,270	)	$	1,212,354

Schedule of Condensed Income Statement

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED JULY 25, 2015
	Parent			Issuer			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract revenues	$	—		$	—		$	2,009,258		$	13,054		$	—		$	2,022,312
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			1,583,651			9,599			—			1,593,250
General and administrative	52,496			540			113,329			12,335			—			178,700
Depreciation and amortization	5,471			—			85,696			4,877			—			96,044
Intercompany charges (income), net	(65,098		)	—			67,430			(2,332		)	—			—
Total	(7,131		)	540			1,850,106			24,479			—			1,867,994
Interest expense, net	(7,012		)	(20,003		)	(10		)	—			—			(27,025		)
Other income, net	(119		)	—			9,039			(629		)	—			8,291
Income (loss) before income taxes and equity in earnings of subsidiaries	—			(20,543		)	168,181			(12,054		)	—			135,584
Provision (benefit) for income taxes:	—			(7,769		)	63,560			(4,531		)	—			51,260
Net income (loss) before equity in earnings of subsidiaries	—			(12,774		)	104,621			(7,523		)	—			84,324
Equity in earnings of subsidiaries	84,324			97,098			—			—			(181,422		)	—
Net income (loss)	$	84,324		$	84,324		$	104,621		$	(7,523	)	$	(181,422	)	$	84,324
Foreign currency translation losses, net of tax	(1,040		)	(1,040		)	—			(1,040		)	2,080			(1,040		)
Comprehensive income (loss)	$	83,284		$	83,284		$	104,621		$	(8,563	)	$	(179,342	)	$	83,284

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED JULY 26, 2014
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract revenues	$	—		$	—		$	1,799,538		$	12,055		$	—		$	1,811,593
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			1,466,221			8,824			—			1,475,045
General and administrative	42,958			616			107,326			10,958			—			161,858
Depreciation and amortization	4,256			—			84,178			4,338			—			92,772
Intercompany charges (income), net	(53,922		)	—			54,688			(766		)	—			—
Total	(6,708		)	616			1,712,413			23,354			—			1,729,675
Interest expense, net	(6,827		)	(19,993		)	(7		)	—			—			(26,827		)
Other income, net	119			—			10,895			214			—			11,228
Income (loss) before income taxes and equity in earnings of subsidiaries	—			(20,609		)	98,013			(11,085		)	—			66,319
Provision (benefit) for income taxes	—			(8,186		)	38,930			(4,403		)	—			26,341
Net income (loss) before equity in earnings of subsidiaries	—			(12,423		)	59,083			(6,682		)	—			39,978
Equity in earnings of subsidiaries	39,978			52,401			135			—			(92,514		)	—
Net income (loss)	$	39,978		$	39,978		$	59,218		$	(6,682	)	$	(92,514	)	$	39,978
Foreign currency translation losses, net of tax	(261		)	(261		)	—			(261		)	522			(261		)
Comprehensive income (loss)	$	39,717		$	39,717		$	59,218		$	(6,943	)	$	(91,992	)	$	39,717

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF OPERATIONS YEAR ENDED JULY 27, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Dycom Consolidated
	(Dollars in thousands)
REVENUES:
Contract revenues	$	—		$	—		$	1,594,363		$	14,249		$	—		$	1,608,612
EXPENSES:
Costs of earned revenues, excluding depreciation and amortization	—			—			1,288,369			12,047			—			1,300,416
General and administrative	44,462			818			89,336			11,155			—			145,771
Depreciation and amortization	2,920			—			77,595			4,966			—			85,481
Intercompany charges (income), net	(53,377		)	—			54,720			(1,343		)	—			—
Total	(5,995		)	818			1,510,020			26,825			—			1,531,668
Interest expense, net	(5,675		)	(17,599		)	(60		)	—			—			(23,334		)
Other income, net	(320		)	—			4,794			115			—			4,589
Income (loss) before income taxes and equity in earnings of subsidiaries	—			(18,417		)	89,077			(12,461		)	—			58,199
Provision (benefit) for income taxes	—			(7,281		)	35,214			(4,922		)	—			23,011
Net income (loss) before equity in earnings of subsidiaries	—			(11,136		)	53,863			(7,539		)	—			35,188
Equity in earnings of subsidiaries	35,188			46,324			—			—			(81,512		)	—
Net income (loss)	$	35,188		$	35,188		$	53,863		$	(7,539	)	$	(81,512	)	$	35,188
Foreign currency translation losses, net of tax	(35		)	(35		)	—			(35		)	70			(35		)
Comprehensive income (loss)	$	35,153		$	35,153		$	53,863		$	(7,574	)	$	(81,442	)	$	35,153

Schedule of Condensed Cash Flow Statement

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED JULY 25, 2015
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elim-inations			Dycom Consolidated
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	3,805		$	(12,703	)	$	151,419		$	(621	)	$	—		$	141,900
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	—			—			(31,909		)	—			—			(31,909		)
Capital expenditures	(10,585		)	—			(83,024		)	(9,388		)	—			(102,997		)
Proceeds from sale of assets	8			—			9,375			9			—			9,392
Return of capital from subsidiaries	—			2,394			—			—			(2,394		)	—
Investment in subsidiaries	—			(409,414		)	(385		)	—			409,799			—
Changes in restricted cash	(541		)	—			3			—			—			(538		)
Investment in non-voting senior units	—			—			—			(4,000		)	—			(4,000		)
Net cash used in investing activities	(11,118		)	(407,020		)	(105,940		)	(13,379		)	407,405			(130,052		)
Cash flows from financing activities:
Borrowings on senior Credit Agreement	535,750			—			—			—			—			535,750
Principal payments on senior Credit Agreement	(467,563		)	—			—			—			—			(467,563		)
Debt issuance costs	(3,854		)	—			—			—			—			(3,854		)
Repurchases of common stock	(87,146		)	—			—			—			—			(87,146		)
Exercise of stock options	8,922			—			—			—			—			8,922
Restricted stock tax withholdings	(4,711		)	—			—			—			—			(4,711		)
Excess tax benefit from share-based awards	8,371			—			—			—			—			8,371
Principal payments on other financing activities	—			—			(1,000		)	—			—			(1,000		)
Intercompany funding	17,544			419,723			(435,732		)	(1,535		)	—			—
Receipt of capital contributions, net	—			—			392,029			15,376			(407,405		)	—
Net cash (used in) provided by financing activities	7,313			419,723			(44,703		)	13,841			(407,405		)	(11,231		)
Net increase (decrease) in cash and equivalents	—			—			776			(159		)	—			617
CASH AT BEGINNING OF PERIOD	—			—			19,739			933			—			20,672
CASH AND EQUIVALENTS AT END OF PERIOD	$	—		$	—		$	20,515		$	774		$	—		$	21,289

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED JULY 26, 2014
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elim-inations			Dycom Consolidated
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	7,199		$	(12,242	)	$	93,898		$	(4,670	)	$	—		$	84,185
Cash flows from investing activities:
Cash paid for acquisition, net of cash acquired	—			—			(16,388		)	(700		)	—			(17,088		)
Capital expenditures	(8,541		)	—			(72,962		)	(7,633		)	—			(89,136		)
Proceeds from sale of assets	—			—			12,146			3,261			—			15,407
Return of capital from subsidiaries	—			683			—			—			(683		)	—
Investment in subsidiaries	—			(9,235		)	(785		)	—			10,020			—
Changes in restricted cash	(303		)	—			—			—			—			(303		)
Net cash used in investing activities	(8,844		)	(8,552		)	(77,989		)	(5,072		)	9,337			(91,120		)
Cash flows from financing activities:
Proceeds from borrowings on senior Credit Agreement	502,000			—			—			—			—			502,000
Principal payments on senior Credit Agreement	(495,813		)	—			—			—			—			(495,813		)
Repurchases of common stock	(9,999		)	—			—			—			—			(9,999		)
Exercise of stock options and other	14,568			—			—			—			—			14,568
Restricted stock tax withholdings	(3,781		)	—			—			—			—			(3,781		)
Excess tax benefit from share-based awards	3,025			—			—			—			—			3,025
Principal payments on capital lease obligations and other financing	—			—			(1,000		)	—			—			(1,000		)
Intercompany funding	(8,355		)	20,794			(13,336		)	10,234			(9,337		)	—
Net cash provided by (used in) financing activities	1,645			20,794			(14,336		)	10,234			(9,337		)	9,000
Net increase in cash and equivalents	—			—			1,573			492			—			2,065
CASH AT BEGINNING OF PERIOD	—			—			18,166			441			—			18,607
CASH AND EQUIVALENTS AT END OF PERIOD	$	—		$	—		$	19,739		$	933		$	—		$	20,672

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED JULY 27, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Elim-inations			Dycom Consolidated
	(Dollars in thousands)
Net cash provided by (used in) operating activities	$	6,952		$	(9,612	)	$	112,176		$	(2,772	)	$	—		$	106,744
Cash flows from investing activities:
Cash paid for acquisition, net of cash acquired	—			—			(330,291		)	—			—			(330,291		)
Capital expenditures	(8,151		)	—			(51,647		)	(4,852		)	—			(64,650		)
Proceeds from sale of assets	—			—			5,770			57			—			5,827
Return of capital from subsidiaries	—			1,816			—			—			(1,816		)	—
Investment in subsidiaries	—			(2,600		)	—			—			2,600			—
Changes in restricted cash	60			—			—			—			—			60
Net cash used in investing activities	(8,091		)	(784		)	(376,168		)	(4,795		)	784			(389,054		)
Cash flows from financing activities:
Proceeds from issuance of 7.125% senior subordinated notes due 2021, (including $3.8 million premium on issuance)	—			93,825			—			—			—			93,825
Proceeds from borrowings on senior Credit Agreement, including term loan	529,500			—			—			—			—			529,500
Principal payments on senior Credit Agreement	(358,625		)	—			—			—			—			(358,625		)
Debt issuance costs	(4,158		)	(2,581		)	—			—			—			(6,739		)
Repurchases of common stock	(15,203		)	—			—			—			—			(15,203		)
Exercise of stock options and other	5,253			—			—			—			—			5,253
Restricted stock tax withholdings	(884		)	—			—			—			—			(884		)
Excess tax benefit from share-based awards	1,283			—			—			—			—			1,283
Principal payments on capital lease obligations	—			—			(74		)	—			—			(74		)
Intercompany funding	(156,027		)	(80,848		)	230,669			6,990			(784		)	—
Net cash provided by financing activities	1,139			10,396			230,595			6,990			(784		)	248,336
Net decrease in cash and equivalents	—			—			(33,397		)	(577		)	—			(33,974		)
CASH AT BEGINNING OF PERIOD	—			—			51,563			1,018			—			52,581
CASH AND EQUIVALENTS AT END OF PERIOD	$	—		$	—		$	18,166		$	441		$	—		$	18,607