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Supplemental Consolidating Financial Statements (Tables) | 6 Months Ended
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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 |

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