Subsidiary Guarantors (Tables)

3 Months Ended

Jul. 31, 2013

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 JULY 31, 2013

(in thousands, except for share and per share data)


ASSETS	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	2,320		$	299		$	300		$	—		$	2,919
Restricted cash		—			76			—			—			76
Accounts receivable - trade, net		253			53,639			385			—			54,277
Refundable income taxes		791			—			—			—			791
Prepaid expenses		3,005			4,333			29			—			7,367
Inventory		—			3,609			56						3,665
Deferred income taxes		3,461			—			—			—			3,461
Other current assets		392			619			7			—			1,018
Current assets of discontinued operations		—			257			—			—			257

Total current assets		10,222			62,832			777			—			73,831
Property, plant and equipment, net		4,098			412,347			8,327			—			424,772
Goodwill		—			115,928			—			—			115,928
Intangible assets, net		227			10,925			—			—			11,152
Restricted assets		—			538			—			—			538
Notes receivable - related party		148			—			—			—			148
Investments in unconsolidated entities		16,486			2,209			2,462			(1,932	)		19,225
Investments in subsidiaries		(50,741	)		—			—			50,741			-
Other non-current assets		15,624			11,783			—			—			27,407
Non-current assets of discontinued operations		—			1,743			—			—			1,743

		(14,158	)		555,473			10,789			48,809			600,913
Intercompany receivable		574,105			(533,452	)		(42,585	)		1,932			—

	$	570,169		$	84,853		$	(31,019	)	$	50,741		$	674,744


LIABILITIES AND STOCKHOLDERS’ EQUITY	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	80		$	347		$	—		$	—		$	427
Current maturities of financing lease obligations		—			367			—			—			367
Accounts payable		23,302			28,518			432			—			52,252
Accrued payroll and related expenses		595			3,249									3,844
Accrued interest		12,948			5			—			—			12,953
Current accrued capping, closure and post-closure costs		—			5,936			3			—			5,939
Other accrued liabilities		7,882			13,978			131			—			21,991

Total current liabilities		44,807			52,400			566			—			97,773
Long-term debt and capital leases, less current maturities		495,386			1,602			—			—			496,988
Financing lease obligations, less current maturities		—			1,363			—			—			1,363
Accrued capping, closure and post-closure costs, less current portion		—			38,772			38			—			38,810
Deferred income taxes		6,852			—			—			—			6,852
Other long-term liabilities		11,467			5,634			—			—			17,101
STOCKHOLDERS’ EQUITY:
Casella Waste Systems, Inc. stockholders’ equity		11,657			(14,918	)		(35,823	)		50,741			11,657
Noncontrolling interests		—			—			4,200			—			4,200

Total stockholders’ equity		11,657			(14,918	)		(31,623	)		50,741			15,857

	$	570,169		$	84,853		$	(31,019	)	$	50,741		$	674,744

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF APRIL 30, 2013

(in thousands, except for share and per share data)


ASSETS	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	1,260		$	253		$	242		$	—		$	1,755
Restricted cash		—			76			—						76
Accounts receivable - trade, net		571			47,644			474			—			48,689
Refundable income taxes		128			—			—			—			128
Prepaid expenses		1,471			4,240			—			—			5,711
Inventory		—			3,440			54			—			3,494
Deferred income taxes		3,730			—			—			—			3,730
Other current assets		366			528			7			—			901
Current assets of discontinued operations		—			61			—			—			61

Total current assets		7,526			56,242			777			—			64,545
Property, plant and equipment, net		2,771			411,284			8,447			—			422,502
Goodwill		—			115,928			—			—			115,928
Intangible assets, net		249			11,425			—			—			11,674
Restricted assets		—			545			—			—			545
Notes receivable - related party		147			—			—			—			147
Investments in unconsolidated entities		16,486			2,189			3,509			(1,932	)		20,252
Investments in subsidiaries		(59,759	)		—			—			59,759			—
Other non-current assets		15,774			11,752			—			—			27,526

		(24,332	)		553,123			11,956			57,827			598,574
Intercompany receivable		580,328			(539,752	)		(42,508	)		1,932			—

	$	563,522		$	69,613		$	(29,775	)	$	59,759		$	663,119


LIABILITIES AND STOCKHOLDERS’ EQUITY	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	—		$	857		$	—		$	—		$	857
Current maturities of financing lease obligations		—			361			—			—			361
Accounts payable		23,492			27,847			635			—			51,974
Accrued payroll and related expenses		538			3,445			—						3,983
Accrued interest		6,071			3			—			—			6,074
Current accrued capping, closure and post-closure costs		—			3,832			3			—			3,835
Other accrued liabilities		10,001			10,896			117			—			21,014

Total current liabilities		40,102			47,241			755			—			88,098
Long-term debt and capital leases, less current maturities		492,965			566			—			—			493,531
Financing lease obligations, less current maturities		—			1,456			—			—			1,456
Accrued capping, closure and post-closure costs, less current portion		—			39,298			37			—			39,335
Deferred income taxes		6,798			—			—			—			6,798
Other long-term liabilities		12,372			6,078			—			—			18,450
STOCKHOLDERS’ EQUITY:
Casella Waste Systems, Inc. stockholders’ equity		11,285			(25,026	)		(34,733	)		59,759			11,285
Noncontrolling interests		—			—			4,166			—			4,166

Total stockholders’ equity		11,285			(25,026	)		(30,567	)		59,759			15,451

	$	563,522		$	69,613		$	(29,775	)	$	59,759		$	663,119

Schedule of Consolidating Statement of Operations

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED JULY 31, 2013

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
Revenues	$	—		$	127,693		$	865		$	—		$	128,558
Operating expenses:
Cost of operations		—			87,782			637			—			88,419
General and administration		157			14,927			(6	)		—			15,078
Depreciation and amortization		214			14,802			181			—			15,197
Expense from divestiture, acquisition and financing costs		—			20			—			—			20
Severance and reorganization costs		—			107			—			—			107

		371			117,638			812			—			118,821

Operating income (loss)		(371	)		10,055			53			—			9,737
Other expense (income), net:
Interest income		(1	)		(11	)		—			—			(12	)
Interest expense		9,347			12			—			—			9,359
(Income) loss from equity method investments		(9,172	)		(20	)		997			9,172			977
(Gain) loss on derivative instruments		(654	)		—			—			—			(654	)
Other income		(19	)		(118	)		(1	)		—			(138	)

Other expense, net		(499	)		(137	)		996			9,172			9,532

Income (loss) from continuing operations before income taxes		128			10,192			(943	)		(9,172	)		205
Provision (benefit) for income taxes		319			—			—			—			319

Income (loss) from continuing operations		(191	)		10,192			(943	)		(9,172	)		(114	)
Discontinued operations:
Income (loss) from discontinued operations, net		—			329			—			—			329
Gain (loss) on disposal of discontinued operations, net		—			(378	)		—			—			(378	)

Net income (loss)		(191	)		10,143			(943	)		(9,172	)		(163	)

Less: Net income (loss) attributable to noncontrolling interests		—			—			28			—			28

Net income (loss) attributable to common stockholders	$	(191	)	$	10,143		$	(971	)	$	(9,172	)	$	(191	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED JULY 31, 2012

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
Revenues	$	—		$	117,628		$	10		$	—		$	117,638
Operating expenses:
Cost of operations		(6	)		81,342			9			—			81,345
General and administration		(154	)		15,326			18			—			15,190
Depreciation and amortization		265			14,444			—			—			14,709
Expense from divestiture, acquisition and financing costs		303			250			—			—			553
Severance and reorganization costs		34			—			—			—			34

		442			111,362			27			—			111,831

Operating income (loss)		(442	)		6,266			(17	)		—			5,807
Other expense (income), net:
Interest income		(8,062	)		(8	)		—			8,062			(8	)
Interest expense		11,788			7,966			—			(8,062	)		11,692
(Income) loss from equity method investments		3,565			(18	)		1,784			(3,565	)		1,766
Other income		(12	)		(118	)		—			—			(130	)

Other expense, net		7,279			7,822			1,784			(3,565	)		13,320

Income (loss) from continuing operations before income taxes		(7,721	)		(1,556	)		(1,801	)		3,565			(7,513	)
Provision (benefit) for income taxes		650			—			—			—			650

Income (loss) from continuing operations		(8,371	)		(1,556	)		(1,801	)		3,565			(8,163	)
Discontinued operations:
Income (loss) from discontinued operations, net		—			(216	)		—			—			(216	)

Net income (loss)		(8,371	)		(1,772	)		(1,801	)		3,565			(8,379	)

Less: Net income (loss) attributable to noncontrolling interests		—			—			(8	)		—			(8	)

Net income (loss) attributable to common stockholders	$	(8,371	)	$	(1,772	)	$	(1,793	)	$	3,565		$	(8,371	)

Schedule of Consolidating Statement of Comprehensive Income (Loss)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED JULY 31, 2013

(in thousands)


	Parent			Guarantors		Non- Guarantors			Elimination			Consolidated
Net income (loss)	$	(191	)	$	10,143	$	(943	)	$	(9,172	)	$	(163	)
Other comprehensive income (loss), net of taxes:
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net		—			—		(289	)		—			(289	)
Realized loss (gain) on derivative instruments reclassified into earnings, net		—			—		164			—			164

Other comprehensive income (loss)		—			—		(125	)		—			(125	)

Comprehensive income (loss)		(191	)		10,143		(1,068	)		(9,172	)		(288	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—		28			—			28

Comprehensive income (loss) attributable to common stockholders	$	(191	)	$	10,143	$	(1,096	)	$	(9,172	)	$	(316	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED JULY 31, 2012

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
Net income (loss)	$	(8,371	)	$	(1,772	)	$	(1,801	)	$	3,565		$	(8,379	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of derivative instruments, net		(1,257	)		—			—			(826	)		(2,083	)
Realized loss (gain) on derivative instruments reclassified into earnings, net		—			—			44			—			44
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			(6	)		—			—			(6	)

Other comprehensive income (loss), net of tax		(1,257	)		(6	)		44			(826	)		(2,045	)

Comprehensive income (loss)		(9,628	)		(1,778	)		(1,757	)		2,739			(10,424	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—			(8	)		—			(8	)

Comprehensive income (loss) attributable to common stockholders	$	(9,628	)	$	(1,778	)	$	(1,749	)	$	2,739		$	(10,416	)

Schedule of Condensed Consolidating Statement of Cashflows

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED JULY 31, 2013

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	(6,951	)	$	26,358		$	119		$	—	$	19,526

Cash Flows from Investing Activities:
Acquisitions, net of cash acquired		—			(29	)		—			—		(29	)
Additions to property, plant and equipment - acquisitions		—			(1,072	)		—			—		(1,072	)
- growth		—			(1,724	)		(61	)		—		(1,785	)
- maintenance		(237	)		(11,385	)		—			—		(11,622	)
Payments on landfill operating lease contracts		—			(1,982	)		—			—		(1,982	)
Investments in unconsolidated entities		(2,148	)		—			—			—		(2,148	)
Proceeds from sale of property and equipment		—			284			—			—		284

Net cash provided by (used in) investing activities		(2,385	)		(15,908	)		(61	)		—		(18,354	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		29,890			—			—			—		29,890
Principal payments on long-term debt		(28,585	)		(725	)		—			—		(29,310	)
Payments of financing costs		(359	)		—			—			—		(359	)
Excess tax benefit on the vesting of share based awards		(63	)		—			—			—		(63	)
Intercompany borrowings		9,513			(9,513	)		—			—		—

Net cash provided by (used in) financing activities		10,396			(10,238	)		—			—		158
Net cash provided by (used in) discontinued operations		—			(166	)		—			—		(166	)

Net increase (decrease) in cash and cash equivalents		1,060			46			58			—		1,164
Cash and cash equivalents, beginning of period		1,260			253			242			—		1,755

Cash and cash equivalents, end of period	$	2,320		$	299		$	300		$	—	$	2,919

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED JULY 31, 2012

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	(5,192	)	$	13,231		$	(317	)	$	—	$	7,722

Cash Flows from Investing Activities:
Acquisitions, net of cash acquired		—			(3,150	)		—			—		(3,150	)
Additions to property, plant and equipment - acquisitions		—			(288	)		—			—		(288	)
- growth		—			(1,232	)		(770	)		—		(2,002	)
- maintenance		(105	)		(14,074	)		—			—		(14,179	)
Payments on landfill operating lease contracts		—			(1,814	)		—			—		(1,814	)
Payment for capital related to divestiture		—			(618	)		—			—		(618	)
Investments in unconsolidated entities		(1,000	)		(750	)		750			—		(1,000	)
Proceeds from sale of property and equipment		—			265			—			—		265

Net cash provided by (used in) investing activities		(1,105	)		(21,661	)		(20	)		—		(22,786	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		62,310			—			—			—		62,310
Principal payments on long-term debt		(47,944	)		(745	)		—			—		(48,689	)
Payments on financing costs		(96	)		—			—			—		(96	)
Excess tax benefit on the vesting of share based awards		205			—			—			—		205
Contributions from noncontrolling interest holders		—			—			721			—		721
Intercompany borrowings		(9,554	)		9,554			—			—		—

Net cash provided by (used in) financing activities		4,921			8,809			721			—		14,451
Net cash provided by (used in) discontinued operations		—			(416	)		—			—		(416	)

Net increase (decrease) in cash and cash equivalents		(1,376	)		(37	)		384			—		(1,029	)
Cash and cash equivalents, beginning of period		3,799			368			367			—		4,534

Cash and cash equivalents, end of period	$	2,423		$	331		$	751		$	—	$	3,505