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Condensed Consolidating Financial Statements (Tables) | 3 Months Ended
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Apr. 01, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet April 1, 2018 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 118.2 |  |  | $ | (1.6 | ) |  | $ | 11.6 |  |  | $ | — |  |  | $ | 128.2 |
Accounts receivable and unbilled receivables, net | — |  |  | 181.8 |  |  | 27.1 |  |  | — |  |  | 208.9 |
Amounts due from affiliated companies | 240.3 |  |  | — |  |  | — |  |  | (240.3 | ) |  | — |
Inventoried costs | — |  |  | 29.9 |  |  | 18.3 |  |  | — |  |  | 48.2 |
Other current assets | 3.1 |  |  | 12.1 |  |  | 4.5 |  |  | — |  |  | 19.7 |
Current assets of discontinued operations | — |  |  | 52.1 |  |  | — |  |  | — |  |  | 52.1 |
Total current assets | 361.6 |  |  | 274.3 |  |  | 61.5 |  |  | (240.3 | ) |  | 457.1 |
Property, plant and equipment, net | 1.7 |  |  | 53.0 |  |  | 6.8 |  |  | — |  |  | 61.5 |
Goodwill | — |  |  | 382.8 |  |  | 42.9 |  |  | — |  |  | 425.7 |
Intangible assets, net | — |  |  | 14.6 |  |  | 5.7 |  |  | — |  |  | 20.3 |
Investment in subsidiaries | 475.4 |  |  | 72.7 |  |  | — |  |  | (548.1 | ) |  | — |
Other assets | 0.8 |  |  | 7.0 |  |  | — |  |  | — |  |  | 7.8 |
Non-current assets of discontinued operations | — |  |  | 38.8 |  |  | — |  |  | — |  |  | 38.8 |
Total assets | $ | 839.5 |  |  | $ | 843.2 |  |  | $ | 116.9 |  |  | $ | (788.4 | ) |  | $ | 1,011.2 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 2.2 |  |  | $ | 25.2 |  |  | $ | 3.9 |  |  | $ | — |  |  | $ | 31.3 |
Accrued expenses | 8.7 |  |  | 29.8 |  |  | 1.9 |  |  | — |  |  | 40.4 |
Accrued compensation | 5.0 |  |  | 25.6 |  |  | 3.5 |  |  | — |  |  | 34.1 |
Billings in excess of costs and earnings on uncompleted contracts | — |  |  | 36.0 |  |  | 2.2 |  |  | — |  |  | 38.2 |
Amounts due to affiliated companies | — |  |  | 207.6 |  |  | 32.7 |  |  | (240.3 | ) |  | — |
Other current liabilities | 0.7 |  |  | 2.3 |  |  | 4.8 |  |  | — |  |  | 7.8 |
Current liabilities of discontinued operations | 0.6 |  |  | 22.5 |  |  | 0.1 |  |  | — |  |  | 23.2 |
Total current liabilities | 17.2 |  |  | 349.0 |  |  | 49.1 |  |  | (240.3 | ) |  | 175.0 |
Long-term debt, net of current portion | 293.6 |  |  | — |  |  | — |  |  | — |  |  | 293.6 |
Other long-term liabilities | 12.4 |  |  | 4.7 |  |  | 7.1 |  |  | — |  |  | 24.2 |
Non-current liabilities of discontinued operations | 3.8 |  |  | 2.1 |  |  | — |  |  | — |  |  | 5.9 |
Total liabilities | 327.0 |  |  | 355.8 |  |  | 56.2 |  |  | (240.3 | ) |  | 498.7 |
Total stockholders’ equity | 512.5 |  |  | 487.4 |  |  | 60.7 |  |  | (548.1 | ) |  | 512.5 |
Total liabilities and stockholders’ equity | $ | 839.5 |  |  | $ | 843.2 |  |  | $ | 116.9 |  |  | $ | (788.4 | ) |  | $ | 1,011.2 |
Condensed Consolidating Balance Sheet December 31, 2017 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 121.3 |  |  | $ | (1.1 | ) |  | $ | 10.7 |  |  | $ | — |  |  | $ | 130.9 |
Accounts receivable and unbilled receivables, net | — |  |  | 183.8 |  |  | 28.5 |  |  | — |  |  | 212.3 |
Amounts due from affiliated companies | 238.1 |  |  | — |  |  | — |  |  | (238.1 | ) |  | — |
Inventoried costs | — |  |  | 30.8 |  |  | 18.2 |  |  | — |  |  | 49.0 |
Other current assets | 3.7 |  |  | 13.5 |  |  | 3.4 |  |  | — |  |  | 20.6 |
Current assets of discontinued operations | — |  |  | 58.6 |  |  | — |  |  | — |  |  | 58.6 |
Total current assets | 363.1 |  |  | 285.6 |  |  | 60.8 |  |  | (238.1 | ) |  | 471.4 |
Property, plant and equipment, net | 1.9 |  |  | 49.3 |  |  | 6.8 |  |  | — |  |  | 58.0 |
Goodwill | — |  |  | 382.8 |  |  | 42.9 |  |  | — |  |  | 425.7 |
Intangible assets, net | — |  |  | 15.8 |  |  | 6.2 |  |  | — |  |  | 22.0 |
Investment in subsidiaries | 471.1 |  |  | 70.0 |  |  | — |  |  | (541.1 | ) |  | — |
Other assets | 0.8 |  |  | 7.3 |  |  | — |  |  | — |  |  | 8.1 |
Non-current assets of discontinued operations | — |  |  | 38.8 |  |  | — |  |  | — |  |  | 38.8 |
Total assets | $ | 836.9 |  |  | $ | 849.6 |  |  | $ | 116.7 |  |  | $ | (779.2 | ) |  | $ | 1,024.0 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 2.3 |  |  | $ | 27.9 |  |  | $ | 4.5 |  |  | $ | — |  |  | $ | 34.7 |
Accrued expenses | 5.7 |  |  | 33.6 |  |  | 3.3 |  |  | — |  |  | 42.6 |
Accrued compensation | 5.6 |  |  | 20.7 |  |  | 3.9 |  |  | — |  |  | 30.2 |
Billings in excess of costs and earnings on uncompleted contracts | — |  |  | 38.2 |  |  | 4.6 |  |  | — |  |  | 42.8 |
Amounts due to affiliated companies | — |  |  | 206.4 |  |  | 31.7 |  |  | (238.1 | ) |  | — |
Other current liabilities | 1.4 |  |  | 4.3 |  |  | 3.7 |  |  | — |  |  | 9.4 |
Current liabilities of discontinued operations | 1.0 |  |  | 28.1 |  |  | 0.1 |  |  | — |  |  | 29.2 |
Total current liabilities | 16.0 |  |  | 359.2 |  |  | 51.8 |  |  | (238.1 | ) |  | 188.9 |
Long-term debt, net of current portion | 293.5 |  |  | — |  |  | — |  |  | — |  |  | 293.5 |
Other long-term liabilities | 12.1 |  |  | 5.1 |  |  | 6.9 |  |  | — |  |  | 24.1 |
Non-current liabilities of discontinued operations | 3.8 |  |  | 2.2 |  |  | — |  |  | — |  |  | 6.0 |
Total liabilities | 325.4 |  |  | 366.5 |  |  | 58.7 |  |  | (238.1 | ) |  | 512.5 |
Total stockholders’ equity | 511.5 |  |  | 483.1 |  |  | 58.0 |  |  | (541.1 | ) |  | 511.5 |
Total liabilities and stockholders’ equity | $ | 836.9 |  |  | $ | 849.6 |  |  | $ | 116.7 |  |  | $ | (779.2 | ) |  | $ | 1,024.0 |
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended April 1, 2018 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Service revenues | $ | — |  |  | $ | 42.7 |  |  | $ | 3.3 |  |  | $ | — |  |  | $ | 46.0 |
Product sales | — |  |  | 85.5 |  |  | 16.4 |  |  | (4.9 | ) |  | 97.0 |
Total revenues | — |  |  | 128.2 |  |  | 19.7 |  |  | (4.9 | ) |  | 143.0 |
Cost of service revenues | — |  |  | 30.4 |  |  | 2.5 |  |  | — |  |  | 32.9 |
Cost of product sales | — |  |  | 63.2 |  |  | 11.0 |  |  | (4.9 | ) |  | 69.3 |
Total costs | — |  |  | 93.6 |  |  | 13.5 |  |  | (4.9 | ) |  | 102.2 |
Gross profit | — |  |  | 34.6 |  |  | 6.2 |  |  | — |  |  | 40.8 |
Selling, general and administrative expenses | 0.4 |  |  | 26.7 |  |  | 3.1 |  |  | — |  |  | 30.2 |
Research and development expenses | — |  |  | 3.2 |  |  | 0.4 |  |  | — |  |  | 3.6 |
Operating income (loss) from continuing operations | (0.4 | ) |  | 4.7 |  |  | 2.7 |  |  | — |  |  | 7.0 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income (expense), net | (5.2 | ) |  | 0.1 |  |  | — |  |  | — |  |  | (5.1 | )
Other income (expense), net | (0.8 | ) |  | 0.8 |  |  | 0.3 |  |  | — |  |  | 0.3 |
Total other income (expense), net | (6.0 | ) |  | 0.9 |  |  | 0.3 |  |  | — |  |  | (4.8 | )
Income (loss) from continuing operations before income taxes | (6.4 | ) |  | 5.6 |  |  | 3.0 |  |  | — |  |  | 2.2 |
Provision for income taxes from continuing operations | 0.1 |  |  | 0.5 |  |  | 0.3 |  |  | — |  |  | 0.9 |
Income (loss) from continuing operations | (6.5 | ) |  | 5.1 |  |  | 2.7 |  |  | — |  |  | 1.3 |
Loss from discontinued operations | — |  |  | (3.5 | ) |  | — |  |  | — |  |  | (3.5 | )
Equity in net income (loss) of subsidiaries | 4.3 |  |  | 2.7 |  |  | — |  |  | (7.0 | ) |  | — |
Net income (loss) | $ | (2.2 | ) |  | $ | 4.3 |  |  | $ | 2.7 |  |  | $ | (7.0 | ) |  | $ | (2.2 | )
Comprehensive income (loss) | $ | (2.3 | ) |  | $ | 4.3 |  |  | $ | 2.6 |  |  | $ | (6.9 | ) |  | $ | (2.3 | )
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 26, 2017 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Service revenues | $ | — |  |  | $ | 46.6 |  |  | $ | 2.6 |  |  | $ | — |  |  | $ | 49.2 |
Product sales | — |  |  | 73.3 |  |  | 12.7 |  |  | (3.2 | ) |  | 82.8 |
Total revenues | — |  |  | 119.9 |  |  | 15.3 |  |  | (3.2 | ) |  | 132.0 |
Cost of service revenues | — |  |  | 33.1 |  |  | 1.9 |  |  | — |  |  | 35.0 |
Cost of product sales | — |  |  | 54.0 |  |  | 10.1 |  |  | (3.2 | ) |  | 60.9 |
Total costs | — |  |  | 87.1 |  |  | 12.0 |  |  | (3.2 | ) |  | 95.9 |
Gross profit | — |  |  | 32.8 |  |  | 3.3 |  |  | — |  |  | 36.1 |
Selling, general and administrative expenses | 2.1 |  |  | 25.1 |  |  | 3.1 |  |  | — |  |  | 30.3 |
Research and development expenses | — |  |  | 4.0 |  |  | 0.4 |  |  | — |  |  | 4.4 |
Operating income (loss) from continuing operations | (2.1 | ) |  | 3.7 |  |  | (0.2 | ) |  | — |  |  | 1.4 |
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income (expense), net | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Loss on extinguishment of debt | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Other income (expense), net | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Total other income (expense), net | (10.3 | ) |  | — |  |  | 0.2 |  |  | — |  |  | (10.1 | )
Income (loss) from continuing operations before income taxes | (12.4 | ) |  | 3.7 |  |  | — |  |  | — |  |  | (8.7 | )
Provision for income taxes from continuing operations | 0.1 |  |  | 1.0 |  |  | 0.3 |  |  | — |  |  | 1.4 |
Income (loss) from continuing operations | (12.5 | ) |  | 2.7 |  |  | (0.3 | ) |  | — |  |  | (10.1 | )
Income (loss) from discontinued operations | (0.1 | ) |  | 0.2 |  |  | — |  |  | — |  |  | 0.1 |
Equity in net income (loss) of subsidiaries | 2.6 |  |  | (0.3 | ) |  | — |  |  | (2.3 | ) |  | — |
Net income (loss) | $ | (10.0 | ) |  | $ | 2.6 |  |  | $ | (0.3 | ) |  | $ | (2.3 | ) |  | $ | (10.0 | )
Comprehensive income (loss) | $ | (9.9 | ) |  | $ | 2.6 |  |  | $ | (0.2 | ) |  | $ | (2.4 | ) |  | $ | (9.9 | )
Schedule of Condensed Consolidating Statement of Cash Flows |
Condensed Consolidating Statement of Cash Flows Three Months Ended April 1, 2018 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities from continuing operations | $ | (3.1 | ) |  | $ | 10.2 |  |  | $ | (0.6 | ) |  | $ | — |  |  | $ | 6.5 |
Investing activities: |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net of cash acquired | — |  |  | (1.9 | ) |  | 1.9 |  |  | — |  |  | — |
Investment in affiliated companies | — |  |  | — |  |  | — |  |  | — |  |  | — |
Change in restricted cash | — |  |  | — |  |  | — |  |  | — |  |  | — |
Proceeds from sale of assets | — |  |  | — |  |  | — |  |  | — |  |  | — |
Capital expenditures | — |  |  | (6.2 | ) |  | (0.5 | ) |  | — |  |  | (6.7 | )
Net cash provided by (used in) investing activities from continuing operations | — |  |  | (8.1 | ) |  | 1.4 |  |  | — |  |  | (6.7 | )
Financing activities: |  |  |  |  |  |  |  |  |
Repayment of debt | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Debt issuance costs | (0.1 | ) |  | — |  |  | — |  |  | — |  |  | (0.1 | )
Proceeds from the issuance of common stock | (1.1 | ) |  | — |  |  | — |  |  | — |  |  | (1.1 | )
Proceeds from the sale of employee stock purchase plan shares | 1.8 |  |  | — |  |  | — |  |  | — |  |  | 1.8 |
Net cash provided by (used in) financing activities from continuing operations | 0.6 |  |  | — |  |  | (0.2 | ) |  | — |  |  | 0.4 |
Net cash flows of continuing operations | (2.5 | ) |  | 2.1 |  |  | 0.6 |  |  | — |  |  | 0.2 |
Net operating cash flows from discontinued operations | (0.4 | ) |  | (2.7 | ) |  | — |  |  | — |  |  | (3.1 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Net increase (decrease) in cash, cash equivalents and restricted cash | $ | (2.9 | ) |  | $ | (0.6 | ) |  | $ | 0.8 |  |  | $ | — |  |  | $ | (2.7 | )
Condensed Consolidating Statement of Cash Flows Three Months Ended March 26, 2017 (Unaudited) (in millions)
| Parent Company |  | Subsidiary Guarantors on a Combined Basis |  | Non-Guarantors on a Combined Basis |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities from continuing operations | $ | (1.5 | ) |  | $ | (4.7 | ) |  | $ | 0.8 |  |  | $ | — |  |  | $ | (5.4 | )
Investing activities: |  |  |  |  |  |  |  |  |
Investment in affiliated companies | (14.6 | ) |  | — |  |  | — |  |  | 14.6 |  |  | — |
Capital expenditures | — |  |  | (4.9 | ) |  | (0.2 | ) |  | — |  |  | (5.1 | )
Net cash provided by (used in) investing activities from continuing operations | (14.6 | ) |  | (4.9 | ) |  | (0.2 | ) |  | 14.6 |  |  | (5.1 | )
Financing activities: |  |  |  |  |  |  |  |  |
Extinguishment of long-term debt | (64.0 | ) |  | — |  |  | — |  |  | — |  |  | (64.0 | )
Repayment of debt | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Proceeds from the issuance of common stock | 81.9 |  |  | — |  |  | — |  |  | — |  |  | 81.9 |
Proceeds from the sale of employee stock purchase plan shares | 0.8 |  |  | — |  |  | — |  |  | — |  |  | 0.8 |
Financing from affiliated companies | — |  |  | 14.6 |  |  | — |  |  | (14.6 | ) |  | — |
Net cash provided by (used in) financing activities from continuing operations | 18.7 |  |  | 14.6 |  |  | (0.3 | ) |  | (14.6 | ) |  | 18.4 |
Net cash flows of continuing operations | 2.6 |  |  | 5.0 |  |  | 0.3 |  |  | — |  |  | 7.9 |
Net operating cash flows from discontinued operations | (0.4 | ) |  | (3.9 | ) |  | — |  |  | — |  |  | (4.3 | )
Net investing cash flows from discontinued operations | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Net increase in cash, cash equivalents and restricted cash | $ | 2.0 |  |  | $ | 1.1 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 3.4 |

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