Subsidiary Guarantors (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Condensed Consolidating Balance Sheet

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF JUNE 30, 2015

(in thousands)

ASSETS	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	2,636		$	214		$	308		$	—		$	3,158
Accounts receivable—trade, net		724			62,785			—			—			63,509
Refundable income taxes		664			—			—			—			664
Prepaid expenses		3,152			4,177			—			—			7,329
Inventory		—			4,622			—			—			4,622
Deferred income taxes		2,013			—			—			—			2,013
Other current assets		481			3,060			—			—			3,541
Total current assets		9,670			74,858			308			—			84,836
Property, plant and equipment, net		5,585			393,437			—			—			399,022
Goodwill		—			118,976			—			—			118,976
Intangible assets, net		53			10,385			—			—			10,438
Restricted assets		142			826			—			—			968
Cost method investments		14,115			1,932			—			(1,932	)		14,115
Investments in subsidiaries		2,385			—			—			(2,385	)		—
Other non-current assets		19,121			10,052			—			—			29,173
		41,401			535,608			—			(4,317	)		572,692
Intercompany receivable		511,683			(474,638	)		(38,977	)		1,932			—
	$	562,754		$	135,828		$	(38,669	)	$	(2,385	)	$	657,528
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	92		$	1,345		$	—		$	—		$	1,437
Accounts payable		18,176			29,648			323			—			48,147
Accrued payroll and related expenses		981			4,861			—			—			5,842
Accrued interest		12,334			12			—			—			12,346
Current accrued capping, closure and post-closure costs		—			1,655			3			—			1,658
Other accrued liabilities		8,043			8,586			—			—			16,629
Total current liabilities		39,626			46,107			326			—			86,059
Long-term debt and capital leases, less current maturities		525,940			913			—			—			526,853
Accrued capping, closure and post-closure costs, less current portion		—			39,934			34			—			39,968
Deferred income taxes		7,261			—			—			—			7,261
Other long-term liabilities		8,741			7,496			—			—			16,237
STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(18,814	)		41,378			(38,993	)		(2,385	)		(18,814	)
Noncontrolling interests		—			—			(36	)		—			(36	)
Total stockholders’ (deficit) equity		(18,814	)		41,378			(39,029	)		(2,385	)		(18,850	)
	$	562,754		$	135,828		$	(38,669	)	$	(2,385	)	$	657,528

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2014

(in thousands)

ASSETS	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	1,596		$	253		$	356		$	—		$	2,205
Restricted cash		—			76			—			—			76
Accounts receivable—trade, net		597			55,053			100			—			55,750
Refundable income taxes		554			—			—			—			554
Prepaid expenses		3,622			5,136			5			—			8,763
Inventory		—			4,345			29			—			4,374
Deferred income taxes		2,095			—			—			—			2,095
Other current assets		296			4,549			7			—			4,852
Total current assets		8,760			69,412			497			—			78,669
Property, plant and equipment, net		5,049			408,843			650			—			414,542
Goodwill		—			119,170			—			—			119,170
Intangible assets, net		98			11,710			—			—			11,808
Restricted assets		5,819			813			—			—			6,632
Cost method investments		14,432			1,932			—			(1,932	)		14,432
Investments in subsidiaries		(9,888	)		—			—			9,888			—
Other non-current assets		14,611			9,931			—			—			24,542
		30,121			552,399			650			7,956			591,126
Intercompany receivable		537,228			(500,267	)		(38,893	)		1,932			—
	$	576,109		$	121,544		$	(37,746	)	$	9,888		$	669,795
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	89		$	1,567		$	—		$	—		$	1,656
Accounts payable		17,953			30,040			525			—			48,518
Accrued payroll and related expenses		1,536			4,751			2			—			6,289
Accrued interest		11,083			11			—			—			11,094
Current accrued capping, closure and post-closure costs		—			2,205			3			—			2,208
Other accrued liabilities		8,618			7,957			92			—			16,667
Total current liabilities		39,279			46,531			622			—			86,432
Long-term debt and capital leases, less current maturities		532,889			1,166			—			—			534,055
Accrued capping, closure and post-closure costs, less current portion		—			37,589			32			—			37,621
Deferred income taxes		7,080			—			—			—			7,080
Other long-term liabilities		9,114			7,433			80			—			16,627
STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(12,253	)		28,825			(38,713	)		9,888			(12,253	)
Noncontrolling interests		—			—			233			—			233
Total stockholders’ (deficit) equity		(12,253	)		28,825			(38,480	)		9,888			(12,020	)
	$	576,109		$	121,544		$	(37,746	)	$	9,888		$	669,795

Schedule of Consolidating Statement of Operations

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED JUNE 30, 2015

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
Revenues	$	—		$	143,714		$	—		$	—		$	143,714
Operating expenses:
Cost of operations		34			98,556			147			—			98,737
General and administration		(79	)		18,130			20			—			18,071
Depreciation and amortization		278			15,963			—			—			16,241
Divestiture transactions		—			(677	)		—			—			(677	)
		233			131,972			167			—			132,372
Operating income (loss)		(233	)		11,742			(167	)		—			11,342
Other expense (income):
Interest income		—			(70	)		—			—			(70	)
Interest expense		10,096			54			—			—			10,150
Loss on derivative instruments		47			—			—			—			47
(Income) loss from consolidated entities		(11,772	)		—			—			11,772			—
Other income		53			(99	)		—			—			(46	)
Other expense (income), net		(1,576	)		(115	)		—			11,772			10,081
Income (loss) before income taxes		1,343			11,857			(167	)		(11,772	)		1,261
Provision (benefit) for income taxes		318			—			—			—			318
Net income (loss)		1,025			11,857			(167	)		(11,772	)		943
Less: Net income (loss) attributable to noncontrolling interests		—			—			(82	)		—			(82	)
Net income (loss) attributable to common stockholders	$	1,025		$	11,857		$	(85	)	$	(11,772	)	$	1,025

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED JUNE 30, 2014

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
Revenues	$	—		$	136,861		$	418		$	—		$	137,279
Operating expenses:
Cost of operations		22			96,717			479			—			97,218
General and administration		133			15,441			20			—			15,594
Depreciation and amortization		223			16,884			60			—			17,167
Divestiture transactions		—			—			7,455			—			7,455
Severance and reorganization costs		—			350			—			—			350
Expense from divestiture, acquisition and financing costs		—			14			—			—			14
Development project charge		—			(46	)		—			—			(46	)
		378			129,360			8,014			—			137,752
Operating income (loss)		(378	)		7,501			(7,596	)		—			(473	)
Other expense (income):
Interest income		—			(85	)		—			—			(85	)
Interest expense		9,569			19			—			—			9,588
Loss on derivative instruments		298			—			—			—			298
Income from equity method investments		—			(63	)		—			—			(63	)
(Income) loss from consolidated entities		(3,855	)		—			—			3,855			—
Other income		(263	)		(98	)		—			—			(361	)
Other expense (income), net		5,749			(227	)		—			3,855			9,377
Income (loss) before income taxes		(6,127	)		7,728			(7,596	)		(3,855	)		(9,850	)
Provision (benefit) for income taxes		528			—			—			—			528
Net income (loss)		(6,655	)		7,728			(7,596	)		(3,855	)		(10,378	)
Less: Net income (loss) attributable to noncontrolling interests		—			—			(3,723	)		—			(3,723	)
Net income (loss) attributable to common stockholders	$	(6,655	)	$	7,728		$	(3,873	)	$	(3,855	)	$	(6,655	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

SIX MONTHS ENDED JUNE 30, 2015

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
Revenues	$	—		$	260,168		$	124		$	—		$	260,292
Operating expenses:
Cost of operations		(49	)		186,234			384			—			186,569
General and administration		(196	)		35,067			5			—			34,876
Depreciation and amortization		500			29,490			—			—			29,990
Divestiture transactions		—			(2,761	)		(2,850	)		—			(5,611	)
		255			248,030			(2,461	)		—			245,824
Operating income (loss)		(255	)		12,138			2,585			—			14,468
Other expense (income):
Interest income		(48	)		(163	)		—			—			(211	)
Interest expense		20,085			107			84			—			20,276
Loss on debt extinguishment		521			—			—			—			521
Loss on derivative instruments		198			—			—			—			198
(Income) loss from consolidated entities		(13,695	)		—			—			13,695			—
Other income		17			(226	)		—			—			(209	)
Other expense (income), net		7,078			(282	)		84			13,695			20,575
Income (loss) before income taxes		(7,333	)		12,420			2,501			(13,695	)		(6,107	)
Provision (benefit) for income taxes		914			—			—			—			914
Net income (loss)		(8,247	)		12,420			2,501			(13,695	)		(7,021	)
Less: Net income (loss) attributable to noncontrolling interests		—			—			1,226			—			1,226
Net income (loss) attributable to common stockholders	$	(8,247	)	$	12,420		$	1,275		$	(13,695	)	$	(8,247	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

SIX MONTHS ENDED JUNE 30, 2014

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination			Consolidated
Revenues	$	—		$	249,795		$	681		$	—		$	250,476
Operating expenses:
Cost of operations		(22	)		182,719			925			—			183,622
General and administration		1,140			30,818			23			—			31,981
Depreciation and amortization		488			30,031			256			—			30,775
Divestiture transactions		—			—			7,455			—			7,455
Development project charge		—			1,394			—			—			1,394
Severance and reorganization costs		—			430			—			—			430
Expense from divestiture, acquisition and financing costs		—			24			—			—			24
Gain on settlement of acquisition related contingent consideration		—			(1,058	)		—			—			(1,058	)
		1,606			244,358			8,659			—			254,623
Operating income (loss)		(1,606	)		5,437			(7,978	)		—			(4,147	)
Other expense (income):
Interest income		(2	)		(193	)		—			—			(195	)
Interest expense		19,149			45			—			—			19,194
Loss on derivative instruments		448			—			—			—			448
Income from equity method investments		—			(90	)		—			—			(90	)
Loss on sale of equity method investment		—			—			221			—			221
(Income) loss from consolidated entities		(1,681	)		—			—			1,681			—
Other income		(273	)		(295	)		—			—			(568	)
Other expense (income), net		17,641			(533	)		221			1,681			19,010
Income (loss) before income taxes		(19,247	)		5,970			(8,199	)		(1,681	)		(23,157	)
Provision (benefit) for income taxes		831			—			—			—			831
Net income (loss)		(20,078	)		5,970			(8,199	)		(1,681	)		(23,988	)
Less: Net income (loss) attributable to noncontrolling interests		—			—			(3,910	)		—			(3,910	)
Net income (loss) attributable to common stockholders	$	(20,078	)	$	5,970		$	(4,289	)	$	(1,681	)	$	(20,078	)

Schedule of Consolidating Statement of Comprehensive Income (Loss)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED JUNE 30, 2015

(in thousands)

	Parent		Guarantors		Non-  Guarantors			Elimination			Consolidated
Net income (loss)	$	1,025	$	11,857	$	(167	)	$	(11,772	)	$	943
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—		3		—			—			3
Other comprehensive income (loss), net of tax		—		3		—			—			3
Comprehensive income (loss)		1,025		11,860		(167	)		(11,772	)		946
Less: Comprehensive income (loss) attributable to noncontrolling interests		—		—		(82	)		—			(82	)
Comprehensive income (loss) attributable to common stockholders	$	1,025	$	11,860	$	(85	)	$	(11,772	)	$	1,028

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED JUNE 30, 2014

(in thousands)

	Parent			Guarantors		Non-  Guarantors			Elimination			Consolidated
Net income (loss)	$	(6,655	)	$	7,728	$	(7,596	)	$	(3,855	)	$	(10,378	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			6		—			—			6
Other comprehensive income (loss), net of tax		—			6		—			—			6
Comprehensive income (loss)		(6,655	)		7,734		(7,596	)		(3,855	)		(10,372	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—		(3,723	)		—			(3,723	)
Comprehensive income (loss) attributable to common stockholders	$	(6,655	)	$	7,734	$	(3,873	)	$	(3,855	)	$	(6,649	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

SIX MONTHS ENDED JUNE 30, 2015

(in thousands)

	Parent			Guarantors			Non-  Guarantors		Elimination			Consolidated
Net income (loss)	$	(8,247	)	$	12,420		$	2,501	$	(13,695	)	$	(7,021	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			(31	)		—		—			(31	)
Other comprehensive income (loss), net of tax		—			(31	)		—		—			(31	)
Comprehensive income (loss)		(8,247	)		12,389			2,501		(13,695	)		(7,052	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—			1,226		—			1,226
Comprehensive income (loss) attributable to common stockholders	$	(8,247	)	$	12,389		$	1,275	$	(13,695	)	$	(8,278	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

SIX MONTHS ENDED JUNE 30, 2014

(in thousands)

	Parent			Guarantors		Non-  Guarantors			Elimination			Consolidated
Net income (loss)	$	(20,078	)	$	5,970	$	(8,199	)	$	(1,681	)	$	(23,988	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			3		—			—			3
Other comprehensive income (loss), net of tax		—			3		—			—			3
Comprehensive income (loss)		(20,078	)		5,973		(8,199	)		(1,681	)		(23,985	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—		(3,910	)		—			(3,910	)
Comprehensive income (loss) attributable to common stockholders	$	(20,078	)	$	5,973	$	(4,289	)	$	(1,681	)	$	(20,075	)

Schedule of Condensed Consolidating Statement of Cash Flows

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2015

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	8,025		$	16,362		$	(498	)	$	—	$	23,889
Cash Flows from Investing Activities:
Additions to property, plant and equipment		(990	)		(15,321	)		—			—		(16,311	)
Payments on landfill operating lease contracts		—			(1,425	)		—			—		(1,425	)
Payments related to investments		—			1,555			(1,555	)		—		—
Proceeds from divestiture transactions		—			1,835			3,500			—		5,335
Proceeds from sale of property and equipment		—			259			—			—		259
Proceeds from property insurance settlement		—			546			—			—		546
Net cash provided by (used in) investing activities		(990	)		(12,551	)		1,945			—		(11,596	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		231,710			18			—			—		231,728
Principal payments on long-term debt		(238,846	)		(494	)		—			—		(239,340	)
Change in restricted cash		5,677			—			—			—		5,677
Payments of financing costs		(8,063	)		—			—			—		(8,063	)
Excess tax benefit on the vesting of share based awards		153			—			—			—		153
Distributions to noncontrolling interest holder		—			—			(1,495	)		—		(1,495	)
Intercompany borrowings		3,374			(3,374	)		—			—		—
Net cash provided by (used in) financing activities		(5,995	)		(3,850	)		(1,495	)		—		(11,340	)
Net increase (decrease) in cash and cash equivalents		1,040			(39	)		(48	)		—		953
Cash and cash equivalents, beginning of period		1,596			253			356			—		2,205
Cash and cash equivalents, end of period	$	2,636		$	214		$	308		$	—	$	3,158

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

SIX MONTHS ENDED JUNE 30, 2014

(in thousands)

	Parent			Guarantors			Non-  Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	2,024		$	20,610		$	(188	)	$	—	$	22,446
Cash Flows from Investing Activities:
Acquisitions, net of cash acquired		—			214			—			—		214
Acquisition related additions to property, plant and equipment		—			(266	)		—			—		(266	)
Additions to property, plant and equipment		(469	)		(22,836	)		—			—		(23,305	)
Payments on landfill operating lease contracts		—			(1,526	)		—			—		(1,526	)
Proceeds from sale of property and equipment		—			448			—			—		448
Payments related to investments		(84	)		(158	)		158			—		(84	)
Net cash provided by (used in) investing activities		(553	)		(24,124	)		158			—		(24,519	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		89,760			—			—			—		89,760
Principal payments on long-term debt		(86,801	)		(457	)		—			—		(87,258	)
Payments of financing costs		(18	)		—			—			—		(18	)
Excess tax benefit on the vesting of share based awards		60			—			—			—		60
Proceeds from the exercise of share based awards		286			—			—			—		286
Intercompany borrowings		(3,782	)		3,782			—			—		—
Net cash provided by (used in) financing activities		(495	)		3,325			—			—		2,830
Net cash provided by (used in) discontinued operations		—			174			—			—		174
Net increase (decrease) in cash and cash equivalents		976			(15	)		(30	)		—		931
Cash and cash equivalents, beginning of period		2,312			243			140			—		2,695
Cash and cash equivalents, end of period	$	3,288		$	228		$	110		$	—	$	3,626