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SUBSIDIARY GUARANTORS | 9 Months Ended
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Jan. 31, 2013
SUBSIDIARY GUARANTORS |
16. | SUBSIDIARY GUARANTORS
Our 2019 Notes are guaranteed jointly and severally, fully and unconditionally, by our significant wholly-owned subsidiaries. The Parent is the issuer and a non-guarantor of the 2019 Notes and the Parent has no independent assets or operations. The information which follows presents the condensed consolidating financial position as of January 31, 2013 and April 30, 2012, the consolidating results of operations and comprehensive loss for the three and nine months ended January 31, 2013 and 2012, and the condensed consolidating statements of cash flows for the nine months ended January 31, 2013 and 2012 of (a) the Parent company only, (b) the combined guarantors (the “Guarantors”), each of which is 100% wholly-owned by the Parent, (c) the combined non-guarantors (the “Non-Guarantors”), (d) eliminating entries and (e) the consolidated total. CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF JANUARY 31, 2013 (in thousands, except for share and per share data)
ASSETS |  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 820 |  |  | $ | 227 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 1,112 |
Accounts receivable - trade, net of allowance for doubtful accounts |  |  | 229 |  |  |  | 49,756 |  |  |  | 440 |  |  |  | — |  |  |  | 50,425 |
Prepaid expenses |  |  | 3,308 |  |  |  | 5,653 |  |  |  | — |  |  |  | — |  |  |  | 8,961 |
Other current assets |  |  | 4,831 |  |  |  | 4,419 |  |  |  | 65 |  |  |  | — |  |  |  | 9,315 |
Total current assets |  |  | 9,188 |  |  |  | 60,055 |  |  |  | 570 |  |  |  | — |  |  |  | 69,813 |
Property, plant and equipment, net of accumulated depreciation and amortization |  |  | 3,024 |  |  |  | 416,934 |  |  |  | 8,494 |  |  |  | — |  |  |  | 428,452 |
Goodwill |  |  | — |  |  |  | 116,281 |  |  |  | — |  |  |  | — |  |  |  | 116,281 |
Intangible assets |  |  | 272 |  |  |  | 11,707 |  |  |  | — |  |  |  | — |  |  |  | 11,979 |
Notes receivable - related party/employee |  |  | 516 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 516 |
Investments in unconsolidated entities |  |  | 16,486 |  |  |  | 2,239 |  |  |  | 2,638 |  |  |  | (1,932 | ) |  |  | 19,431 |
Investments in subsidiaries |  |  | (47,081 | ) |  |  | — |  |  |  | — |  |  |  | 47,081 |  |  |  | — |
Other non-current assets |  |  | 15,010 |  |  |  | 11,671 |  |  |  | — |  |  |  | — |  |  |  | 26,681 |
|  |  | (11,773 | ) |  |  | 558,832 |  |  |  | 11,132 |  |  |  | 45,149 |  |  |  | 603,340 |
Intercompany receivable |  |  | 577,898 |  |  |  | (539,265 | ) |  |  | (40,565 | ) |  |  | 1,932 |  |  |  | — |
|  | $ | 575,313 |  |  | $ | 79,622 |  |  | $ | (28,863 | ) |  | $ | 47,081 |  |  | $ | 673,153 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt and capital leases |  | $ | 37 |  |  | $ | 955 |  |  | $ | — |  |  | $ | — |  |  | $ | 992 |
Current maturities of financing lease obligations |  |  | — |  |  |  | 355 |  |  |  | — |  |  |  | — |  |  |  | 355 |
Accounts payable |  |  | 22,111 |  |  |  | 24,754 |  |  |  | 830 |  |  |  | — |  |  |  | 47,695 |
Accrued interest |  |  | 12,691 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 12,702 |
Current accrued capping, closure and post-closure costs |  |  | — |  |  |  | 4,903 |  |  |  | — |  |  |  | — |  |  |  | 4,903 |
Other current liabilities |  |  | 14,790 |  |  |  | 16,849 |  |  |  | 305 |  |  |  | — |  |  |  | 31,944 |
Total current liabilities |  |  | 49,629 |  |  |  | 47,827 |  |  |  | 1,135 |  |  |  | — |  |  |  | 98,591 |
Long-term debt and capital leases, less current maturities |  |  | 489,908 |  |  |  | 778 |  |  |  | — |  |  |  | — |  |  |  | 490,686 |
Financing lease obligations, less current maturities |  |  | — |  |  |  | 1,549 |  |  |  | — |  |  |  | — |  |  |  | 1,549 |
Accrued capping, closure and post-closure costs, less current portion |  |  | — |  |  |  | 37,637 |  |  |  | 44 |  |  |  | — |  |  |  | 37,681 |
Other long-term liabilities |  |  | 11,529 |  |  |  | 6,182 |  |  |  | — |  |  |  | — |  |  |  | 17,711 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casella Waste Systems, Inc. stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A common stock - Authorized - 100,000,000 shares, $0.01 par value per share, issued and outstanding - 38,658,000 shares |  |  | 387 |  |  |  | 100 |  |  |  | — |  |  |  | (100 | ) |  |  | 387 |
Class B common stock - Authorized - 1,000,000 shares, $0.01 par value per share, 10 votes per share, issued and outstanding - 988,000 shares |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |
Additional paid-in capital |  |  | 335,451 |  |  |  | 45,391 |  |  |  | 5,608 |  |  |  | (50,999 | ) |  |  | 335,451 |
Accumulated deficit |  |  | (310,982 | ) |  |  | (59,851 | ) |  |  | (37,710 | ) |  |  | 97,561 |  |  |  | (310,982 | )
Accumulated other comprehensive income (loss) |  |  | (619 | ) |  |  | 9 |  |  |  | (628 | ) |  |  | 619 |  |  |  | (619 | )
Total Casella Waste Systems, Inc. stockholders’ equity |  |  | 24,247 |  |  |  | (14,351 | ) |  |  | (32,730 | ) |  |  | 47,081 |  |  |  | 24,247 |
Noncontrolling interest |  |  | — |  |  |  | — |  |  |  | 2,688 |  |  |  | — |  |  |  | 2,688 |
Total stockholders’ equity |  |  | 24,247 |  |  |  | (14,351 | ) |  |  | (30,042 | ) |  |  | 47,081 |  |  |  | 26,935 |
|  | $ | 575,313 |  |  | $ | 79,622 |  |  | $ | (28,863 | ) |  | $ | 47,081 |  |  | $ | 673,153 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF APRIL 30, 2012 (in thousands, except for share and per share data)
|  |  |  |  |  |  |  | Non - |  |  |  |  |  |  |
ASSETS |  | Parent |  |  | Guarantors |  |  | Guarantors |  |  | Elimination |  |  | Consolidated |
CURRENT ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,799 |  |  | $ | 368 |  |  | $ | 367 |  |  | $ | — |  |  | $ | 4,534 |
Accounts receivable - trade, net of allowance for doubtful accounts |  |  | 652 |  |  |  | 46,820 |  |  |  | — |  |  |  | — |  |  |  | 47,472 |
Refundable income taxes |  |  | 1,281 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,281 |
Deferred income taxes |  |  | 3,712 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,712 |
Other current assets |  |  | 1,903 |  |  |  | 8,454 |  |  |  | — |  |  |  | — |  |  |  | 10,357 |
Total current assets |  |  | 11,347 |  |  |  | 55,642 |  |  |  | 367 |  |  |  | — |  |  |  | 67,356 |
Property, plant and equipment, net of accumulated depreciation and amortization |  |  | 3,486 |  |  |  | 409,383 |  |  |  | 3,848 |  |  |  | — |  |  |  | 416,717 |
Goodwill |  |  | — |  |  |  | 101,706 |  |  |  | — |  |  |  | — |  |  |  | 101,706 |
Intangible assets |  |  | 340 |  |  |  | 2,630 |  |  |  | — |  |  |  | — |  |  |  | 2,970 |
Restricted assets |  |  | — |  |  |  | 424 |  |  |  | — |  |  |  | — |  |  |  | 424 |
Notes receivable - related party/employee |  |  | 722 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 722 |
Investments in unconsolidated entities |  |  | 15,986 |  |  |  | 2,225 |  |  |  | 6,502 |  |  |  | (1,932 | ) |  |  | 22,781 |
Investments in subsidiaries |  |  | (34,443 | ) |  |  | — |  |  |  | — |  |  |  | 34,443 |  |  |  | — |
Other non-current assets |  |  | 15,056 |  |  |  | 6,011 |  |  |  | — |  |  |  | — |  |  |  | 21,067 |
|  |  | 1,147 |  |  |  | 522,379 |  |  |  | 10,350 |  |  |  | 32,511 |  |  |  | 566,387 |
Intercompany receivable |  |  | 532,950 |  |  |  | (494,819 | ) |  |  | (40,063 | ) |  |  | 1,932 |  |  |  | — |
|  | $ | 545,444 |  |  | $ | 83,202 |  |  | $ | (29,346 | ) |  | $ | 34,443 |  |  | $ | 633,743 |
|  |  |  |  |  |  |  | Non - |  |  |  |  |  |  |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  | Parent |  |  | Guarantors |  |  | Guarantors |  |  | Elimination |  |  | Consolidated |
CURRENT LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt and capital leases |  | $ | 142 |  |  | $ | 1,086 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,228 |
Current maturities of financing lease obligations |  |  | — |  |  |  | 338 |  |  |  | — |  |  |  | — |  |  |  | 338 |
Accounts payable |  |  | 21,952 |  |  |  | 24,757 |  |  |  | — |  |  |  | — |  |  |  | 46,709 |
Current accrued capping, closure and post-closure costs |  |  | — |  |  |  | 4,907 |  |  |  | — |  |  |  | — |  |  |  | 4,907 |
Other current liabilities |  |  | 23,738 |  |  |  | 10,872 |  |  |  | 543 |  |  |  | — |  |  |  | 35,153 |
Total current liabilities |  |  | 45,832 |  |  |  | 41,960 |  |  |  | 543 |  |  |  | — |  |  |  | 88,335 |
Long-term debt and capital leases, less current maturities |  |  | 472,028 |  |  |  | 1,353 |  |  |  | — |  |  |  | — |  |  |  | 473,381 |
Financing lease obligations, less current maturities |  |  | — |  |  |  | 1,818 |  |  |  | — |  |  |  | — |  |  |  | 1,818 |
Accrued capping, closure and post-closure costs, less current portion |  |  | — |  |  |  | 34,681 |  |  |  | 41 |  |  |  | — |  |  |  | 34,722 |
Other long-term liabilities |  |  | 11,153 |  |  |  | 6,103 |  |  |  | — |  |  |  | — |  |  |  | 17,256 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casella Waste Systems, Inc. stockholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A common stock - Authorized - 100,000,000 shares, $ 0.01 par value per share, issued and outstanding - 25,991,000 shares |  |  | 260 |  |  |  | 100 |  |  |  | — |  |  |  | (100 | ) |  |  | 260 |
Class B common stock - Authorized - 1,000,000 shares, $ 0.01 par value per share, 10 votes per share, issued and outstanding - 988,000 shares |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |
Additional paid-in capital |  |  | 288,348 |  |  |  | 46,279 |  |  |  | 1,998 |  |  |  | (48,277 | ) |  |  | 288,348 |
Accumulated deficit |  |  | (270,235 | ) |  |  | (49,097 | ) |  |  | (34,140 | ) |  |  | 83,237 |  |  |  | (270,235 | )
Accumulated other comprehensive income (loss) |  |  | (1,952 | ) |  |  | 5 |  |  |  | 412 |  |  |  | (417 | ) |  |  | (1,952 | )
Total Casella Waste Systems, Inc. stockholders’ equity |  |  | 16,431 |  |  |  | (2,713 | ) |  |  | (31,730 | ) |  |  | 34,443 |  |  |  | 16,431 |
Noncontrolling interest |  |  | — |  |  |  | — |  |  |  | 1,800 |  |  |  | — |  |  |  | 1,800 |
Total stockholders’ equity |  |  | 16,431 |  |  |  | (2,713 | ) |  |  | (29,930 | ) |  |  | 34,443 |  |  |  | 18,231 |
|  | $ | 545,444 |  |  | $ | 83,202 |  |  | $ | (29,346 | ) |  | $ | 34,443 |  |  | $ | 633,743 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JANUARY 31, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 114,299 |  |  | $ | 703 |  |  | $ | — |  |  | $ | 115,002 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 12 |  |  |  | 83,487 |  |  |  | 669 |  |  |  | — |  |  |  | 84,168 |
General and administration |  |  | 705 |  |  |  | 13,748 |  |  |  | 27 |  |  |  | — |  |  |  | 14,480 |
Depreciation and amortization |  |  | 236 |  |  |  | 13,629 |  |  |  | 180 |  |  |  | — |  |  |  | 14,045 |
Severance and reorganization costs |  |  | 81 |  |  |  | 1,555 |  |  |  | — |  |  |  | — |  |  |  | 1,636 |
Expense from divestiture, acquisition and financing costs |  |  | — |  |  |  | 372 |  |  |  | — |  |  |  | — |  |  |  | 372 |
Loss on divestiture |  |  | — |  |  |  | 353 |  |  |  | — |  |  |  | — |  |  |  | 353 |
|  |  | 1,034 |  |  |  | 113,144 |  |  |  | 876 |  |  |  | — |  |  |  | 115,054 |
Operating income (loss) |  |  | (1,034 | ) |  |  | 1,155 |  |  |  | (173 | ) |  |  | — |  |  |  | (52 | )
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (8,275 | ) |  |  | (49 | ) |  |  | — |  |  |  | 8,274 |  |  |  | (50 | )
Interest expense |  |  | 9,422 |  |  |  | 8,259 |  |  |  | — |  |  |  | (8,274 | ) |  |  | 9,407 |
Loss (income) from equity method investments |  |  | 8,480 |  |  |  | 43 |  |  |  | 1,393 |  |  |  | (8,480 | ) |  |  | 1,436 |
Loss (gain) on derivative instruments |  |  | (24 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (24 | )
Loss on debt extinguishment |  |  | 5,914 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,914 |
Other income |  |  | (181 | ) |  |  | (117 | ) |  |  | — |  |  |  | — |  |  |  | (298 | )
Other expense, net |  |  | 15,336 |  |  |  | 8,136 |  |  |  | 1,393 |  |  |  | (8,480 | ) |  |  | 16,385 |
Income (loss) from continuing operations before income taxes |  |  | (16,370 | ) |  |  | (6,981 | ) |  |  | (1,566 | ) |  |  | 8,480 |  |  |  | (16,437 | )
Provision (benefit) for income taxes |  |  | (4,963 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,963 | )
Net income (loss) |  |  | (11,407 | ) |  |  | (6,981 | ) |  |  | (1,566 | ) |  |  | 8,480 |  |  |  | (11,474 | )
Less: Net income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (67 | ) |  |  | — |  |  |  | (67 | )
Net income (loss) attributable to common stockholders |  | $ | (11,407 | ) |  | $ | (6,981 | ) |  | $ | (1,499 | ) |  | $ | 8,480 |  |  | $ | (11,407 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JANUARY 31, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 114,578 |  |  | $ | — |  |  | $ | — |  |  | $ | 114,578 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 20 |  |  |  | 81,377 |  |  |  | 1 |  |  |  | — |  |  |  | 81,398 |
General and administration |  |  | 8 |  |  |  | 13,924 |  |  |  | 1 |  |  |  | — |  |  |  | 13,933 |
Depreciation and amortization |  |  | 367 |  |  |  | 14,460 |  |  |  | — |  |  |  | — |  |  |  | 14,827 |
|  |  | 395 |  |  |  | 109,761 |  |  |  | 2 |  |  |  | — |  |  |  | 110,158 |
Operating income (loss) |  |  | (395 | ) |  |  | 4,817 |  |  |  | (2 | ) |  |  | — |  |  |  | 4,420 |
Other expense/(income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (9,798 | ) |  |  | (19 | ) |  |  | — |  |  |  | 9,797 |  |  |  | (20 | )
Interest expense |  |  | 11,523 |  |  |  | 9,802 |  |  |  | — |  |  |  | (9,797 | ) |  |  | 11,528 |
Loss (income) from equity method investments |  |  | 21,940 |  |  |  | (26 | ) |  |  | 6,409 |  |  |  | (21,940 | ) |  |  | 6,383 |
Impairment of equity method investment |  |  | — |  |  |  | — |  |  |  | 10,680 |  |  |  | — |  |  |  | 10,680 |
Other income |  |  | (26 | ) |  |  | (91 | ) |  |  | — |  |  |  | — |  |  |  | (117 | )
Other expense, net |  |  | 23,639 |  |  |  | 9,666 |  |  |  | 17,089 |  |  |  | (21,940 | ) |  |  | 28,454 |
Income (loss) from continuing operations before income taxes |  |  | (24,034 | ) |  |  | (4,849 | ) |  |  | (17,091 | ) |  |  | 21,940 |  |  |  | (24,034 | )
Provision (benefit) for income taxes |  |  | 601 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 601 |
Net income (loss) attributable to common stockholders |  | $ | (24,635 | ) |  | $ | (4,849 | ) |  | $ | (17,091 | ) |  | $ | 21,940 |  |  | $ | (24,635 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED JANUARY 31, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 355,383 |  |  | $ | 1,148 |  |  | $ | — |  |  | $ | 356,531 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 4 |  |  |  | 253,119 |  |  |  | 1,294 |  |  |  | — |  |  |  | 254,417 |
General and administration |  |  | (60 | ) |  |  | 43,791 |  |  |  | 57 |  |  |  | — |  |  |  | 43,788 |
Depreciation and amortization |  |  | 770 |  |  |  | 42,422 |  |  |  | 241 |  |  |  | — |  |  |  | 43,433 |
Severance and reorganization costs |  |  | 1,766 |  |  |  | 1,697 |  |  |  | — |  |  |  | — |  |  |  | 3,463 |
Expense from divestiture, acquisition and financing costs |  |  | 303 |  |  |  | 700 |  |  |  | — |  |  |  | — |  |  |  | 1,003 |
Loss on divestiture |  |  | — |  |  |  | 353 |  |  |  | — |  |  |  | — |  |  |  | 353 |
|  |  | 2,783 |  |  |  | 342,082 |  |  |  | 1,592 |  |  |  | — |  |  |  | 346,457 |
Operating income (loss) |  |  | (2,783 | ) |  |  | 13,301 |  |  |  | (444 | ) |  |  | — |  |  |  | 10,074 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (24,515 | ) |  |  | (64 | ) |  |  | — |  |  |  | 24,511 |  |  |  | (68 | )
Interest expense |  |  | 33,000 |  |  |  | 24,469 |  |  |  | — |  |  |  | (24,511 | ) |  |  | 32,958 |
Loss (income) from equity method investments |  |  | 14,324 |  |  |  | (14 | ) |  |  | 3,325 |  |  |  | (14,324 | ) |  |  | 3,311 |
Loss (gain) on derivative instruments |  |  | 3,871 |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  | 3,871 |
Loss on debt extinguishment |  |  | 15,584 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,584 |
Other income |  |  | (401 | ) |  |  | (336 | ) |  |  | — |  |  |  | — |  |  |  | (737 | )
Other expense, net |  |  | 41,863 |  |  |  | 24,055 |  |  |  | 3,325 |  |  |  | (14,324 | ) |  |  | 54,919 |
Income (loss) from continuing operations before income taxes |  |  | (44,646 | ) |  |  | (10,754 | ) |  |  | (3,769 | ) |  |  | 14,324 |  |  |  | (44,845 | )
Provision (benefit) for income taxes |  |  | (3,899 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,899 | )
Net income (loss) |  |  | (40,747 | ) |  |  | (10,754 | ) |  |  | (3,769 | ) |  |  | 14,324 |  |  |  | (40,946 | )
Less: Net income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (199 | ) |  |  | — |  |  |  | (199 | )
Net income (loss) attributable to common stockholders |  | $ | (40,747 | ) |  | $ | (10,754 | ) |  | $ | (3,570 | ) |  | $ | 14,324 |  |  | $ | (40,747 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED JANUARY 31, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 371,637 |  |  | $ | — |  |  | $ | — |  |  | $ | 371,637 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 49 |  |  |  | 253,196 |  |  |  | 3 |  |  |  | — |  |  |  | 253,248 |
General and administration |  |  | 421 |  |  |  | 45,780 |  |  |  | 1 |  |  |  | — |  |  |  | 46,202 |
Depreciation and amortization |  |  | 1,041 |  |  |  | 43,353 |  |  |  | — |  |  |  | — |  |  |  | 44,394 |
Legal settlement |  |  | 1,000 |  |  |  | 359 |  |  |  | — |  |  |  | — |  |  |  | 1,359 |
Development project cost |  |  | — |  |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 131 |
|  |  | 2,511 |  |  |  | 342,819 |  |  |  | 4 |  |  |  | — |  |  |  | 345,334 |
Operating income (loss) |  |  | (2,511 | ) |  |  | 28,818 |  |  |  | (4 | ) |  |  | — |  |  |  | 26,303 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (29,514 | ) |  |  | (26 | ) |  |  | — |  |  |  | 29,508 |  |  |  | (32 | )
Interest expense |  |  | 33,982 |  |  |  | 29,423 |  |  |  | — |  |  |  | (29,508 | ) |  |  | 33,897 |
Loss (income) from equity method investments |  |  | 20,385 |  |  |  | (27 | ) |  |  | 10,190 |  |  |  | (20,385 | ) |  |  | 10,163 |
Impairment of equity method investment |  |  | — |  |  |  | — |  |  |  | 10,680 |  |  |  | — |  |  |  | 10,680 |
Other income |  |  | (233 | ) |  |  | (316 | ) |  |  | — |  |  |  | — |  |  |  | (549 | )
Other expense, net |  |  | 24,620 |  |  |  | 29,054 |  |  |  | 20,870 |  |  |  | (20,385 | ) |  |  | 54,159 |
Income (loss) from continuing operations before income taxes |  |  | (27,131 | ) |  |  | (236 | ) |  |  | (20,874 | ) |  |  | 20,385 |  |  |  | (27,856 | )
Provision (benefit) for income taxes |  |  | 1,330 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,330 |
Income (loss) from continuing operations |  |  | (28,461 | ) |  |  | (236 | ) |  |  | (20,874 | ) |  |  | 20,385 |  |  |  | (29,186 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain on disposal of discontinued operations, net of tax |  |  | — |  |  |  | 725 |  |  |  | — |  |  |  | — |  |  |  | 725 |
Net income (loss) attributable to common stockholders |  | $ | (28,461 | ) |  | $ | 489 |  |  | $ | (20,874 | ) |  | $ | 20,385 |  |  | $ | (28,461 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) THREE MONTHS ENDED JANUARY 31, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (11,407 | ) |  | $ | (6,981 | ) |  | $ | (1,566 | ) |  | $ | 8,480 |  |  | $ | (11,474 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net of tax provision of $0 |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | — |  |  |  | (11 | )
Realized loss (gain) on derivative instruments reclassified into earnings, net of tax provision of $0 |  |  | — |  |  |  | — |  |  |  | 149 |  |  |  | — |  |  |  | 149 |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | (11 | ) |  |  | — |  |  |  | — |  |  |  | (11 | )
Other comprehensive income (loss) |  |  | — |  |  |  | (11 | ) |  |  | 138 |  |  |  | — |  |  |  | 127 |
Comprehensive income (loss) |  |  | (11,407 | ) |  |  | (6,992 | ) |  |  | (1,428 | ) |  |  | 8,480 |  |  |  | (11,347 | )
Less: Comprehensive income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (67 | ) |  |  | — |  |  |  | (67 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (11,407 | ) |  | $ | (6,992 | ) |  | $ | (1,361 | ) |  | $ | 8,480 |  |  | $ | (11,280 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) THREE MONTHS ENDED JANUARY 31, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) attributable to common stockholders |  | $ | (24,635 | ) |  | $ | (4,849 | ) |  | $ | (17,091 | ) |  | $ | 21,940 |  |  | $ | (24,635 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net of tax provision of $0 |  |  | (2,474 | ) |  |  | — |  |  |  | 493 |  |  |  | — |  |  |  | (1,981 | )
Realized loss (gain) on derivative instruments reclassified into earnings, net of tax provision of $0 |  |  | — |  |  |  | — |  |  |  | 109 |  |  |  | — |  |  |  | 109 |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | (16 | ) |  |  | — |  |  |  | — |  |  |  | (16 | )
Other comprehensive income (loss) |  |  | (2,474 | ) |  |  | (16 | ) |  |  | 602 |  |  |  | — |  |  |  | (1,888 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (27,109 | ) |  | $ | (4,865 | ) |  | $ | (16,489 | ) |  | $ | 21,940 |  |  | $ | (26,523 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) NINE MONTHS ENDED JANUARY 31, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (40,747 | ) |  | $ | (10,754 | ) |  | $ | (3,769 | ) |  | $ | 14,324 |  |  | $ | (40,946 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net of tax provision of $0 |  |  | (1,257 | ) |  |  | — |  |  |  | (1,553 | ) |  |  | — |  |  |  | (2,810 | )
Realized loss (gain) on derivative instruments reclassified into earnings, net of tax provision of $0 |  |  | 3,625 |  |  |  | — |  |  |  | 514 |  |  |  | — |  |  |  | 4,139 |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 4 |
Other comprehensive income (loss) |  |  | 2,368 |  |  |  | 4 |  |  |  | (1,039 | ) |  |  | — |  |  |  | 1,333 |
Comprehensive income (loss) |  |  | (38,379 | ) |  |  | (10,750 | ) |  |  | (4,808 | ) |  |  | 14,324 |  |  |  | (39,613 | )
Less: Comprehensive income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (199 | ) |  |  | — |  |  |  | (199 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (38,379 | ) |  | $ | (10,750 | ) |  | $ | (4,609 | ) |  | $ | 14,324 |  |  | $ | (39,414 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) NINE MONTHS ENDED JANUARY 31, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non - Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) attributable to common stockholders |  | $ | (28,461 | ) |  | $ | 489 |  |  | $ | (20,874 | ) |  | $ | 20,385 |  |  | $ | (28,461 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net of tax provision of $99 |  |  | (2,371 | ) |  |  | — |  |  |  | 573 |  |  |  | — |  |  |  | (1,798 | )
Realized loss (gain) on derivative instruments reclassified into earnings, net of tax provision of $99 |  |  | (78 | ) |  |  | — |  |  |  | (529 | ) |  |  | — |  |  |  | (607 | )
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | (27 | ) |  |  | — |  |  |  | — |  |  |  | (27 | )
Other comprehensive income (loss) |  |  | (2,449 | ) |  |  | (27 | ) |  |  | 44 |  |  |  | — |  |  |  | (2,432 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (30,910 | ) |  | $ | 462 |  |  | $ | (20,830 | ) |  | $ | 20,385 |  |  | $ | (30,893 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED JANUARY 31, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by operating activities |  | $ | (3,983 | ) |  | $ | 35,357 |  |  | $ | (848 | ) |  | $ | — |  |  | $ | 30,526 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (25,106 | ) |  |  | — |  |  |  | — |  |  |  | (25,106 | )
Additions to property, plant and equipment - acquisitions |  |  | — |  |  |  | (528 | ) |  |  | — |  |  |  | — |  |  |  | (528 | )
- growth |  |  | — |  |  |  | (5,530 | ) |  |  | (4,885 | ) |  |  | — |  |  |  | (10,415 | )
- maintenance |  |  | (233 | ) |  |  | (33,293 | ) |  |  | — |  |  |  | — |  |  |  | (33,526 | )
Payment for capital related to divestiture |  |  | — |  |  |  | (618 | ) |  |  | — |  |  |  | — |  |  |  | (618 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (5,726 | ) |  |  | — |  |  |  | — |  |  |  | (5,726 | )
Proceeds from sale of property and equipment |  |  | — |  |  |  | 795 |  |  |  | — |  |  |  | — |  |  |  | 795 |
Investments in unconsolidated entities |  |  | (4,736 | ) |  |  | (500 | ) |  |  | 4,236 |  |  |  | — |  |  |  | (1,000 | )
Net cash provided by (used in) investing activities |  |  | (4,969 | ) |  |  | (70,506 | ) |  |  | (649 | ) |  |  | — |  |  |  | (76,124 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | 334,497 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 334,497 |
Principal payments on long-term debt |  |  | (319,365 | ) |  |  | (1,118 | ) |  |  | — |  |  |  | — |  |  |  | (320,483 | )
Payment of tender premium on second lien notes |  |  | (10,743 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (10,743 | )
Net proceeds from the issuance of class A common stock |  |  | 42,184 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 42,184 |
Contributions from noncontrolling interest holder |  |  | — |  |  |  | — |  |  |  | 1,195 |  |  |  | — |  |  |  | 1,195 |
Other |  |  | (4,474 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,474 | )
Intercompany borrowings |  |  | (36,126 | ) |  |  | 36,126 |  |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | 5,973 |  |  |  | 35,008 |  |  |  | 1,195 |  |  |  | — |  |  |  | 42,176 |
Net increase (decrease) in cash and cash equivalents |  |  | (2,979 | ) |  |  | (141 | ) |  |  | (302 | ) |  |  | — |  |  |  | (3,422 | )
Cash and cash equivalents, beginning of period |  |  | 3,799 |  |  |  | 368 |  |  |  | 367 |  |  |  | — |  |  |  | 4,534 |
Cash and cash equivalents, end of period |  | $ | 820 |  |  | $ | 227 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 1,112 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED JANUARY 31, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non-Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by operating activities |  | $ | 5,176 |  |  | $ | 44,524 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 49,742 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (2,102 | ) |  |  | — |  |  |  | — |  |  |  | (2,102 | )
Additions to property, plant and equipment - acquisitions |  |  | — |  |  |  | (168 | ) |  |  | — |  |  |  | — |  |  |  | (168 | )
- growth |  |  | — |  |  |  | (8,209 | ) |  |  | (1,624 | ) |  |  | — |  |  |  | (9,833 | )
- maintenance |  |  | (977 | ) |  |  | (38,302 | ) |  |  | — |  |  |  | — |  |  |  | (39,279 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (6,052 | ) |  |  | — |  |  |  | — |  |  |  | (6,052 | )
Proceeds from sale of property and equipment |  |  | — |  |  |  | 1,337 |  |  |  | — |  |  |  | — |  |  |  | 1,337 |
Investments in unconsolidated entities |  |  | (1,820 | ) |  |  | (3,785 | ) |  |  | 1,459 |  |  |  | — |  |  |  | (4,146 | )
Net cash provided by (used in) investing activities |  |  | (2,797 | ) |  |  | (57,281 | ) |  |  | (165 | ) |  |  | — |  |  |  | (60,243 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | 127,900 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 127,900 |
Principal payments on long-term debt |  |  | (118,356 | ) |  |  | (1,077 | ) |  |  | — |  |  |  | — |  |  |  | (119,433 | )
Contributions from noncontrolling interest holder |  |  | — |  |  |  | — |  |  |  | 174 |  |  |  | — |  |  |  | 174 |
Other |  |  | 449 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 623 |
Intercompany borrowings |  |  | (12,961 | ) |  |  | 12,961 |  |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | (2,968 | ) |  |  | 11,884 |  |  |  | 174 |  |  |  | — |  |  |  | 9,090 |
Cash provided by discontinued operations |  |  | — |  |  |  | 725 |  |  |  | — |  |  |  | — |  |  |  | 725 |
Net increase (decrease) in cash and cash equivalents |  |  | (589 | ) |  |  | (148 | ) |  |  | 51 |  |  |  | — |  |  |  | (686 | )
Cash and cash equivalents, beginning of period |  |  | 1,531 |  |  |  | 286 |  |  |  | — |  |  |  | — |  |  |  | 1,817 |
Cash and cash equivalents, end of period |  | $ | 942 |  |  | $ | 138 |  |  | $ | 51 |  |  | $ | — |  |  | $ | 1,131 |

X
- Definition The entire disclosure for condensed financial statements. + References No definition available. + Details
Name: | us-gaap_CondensedFinancialStatementsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration