Subsidiary Guarantors (Tables)

3 Months Ended

Jul. 31, 2014

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, 2014

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


ASSETS	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	1,992		$	261		$	342		$	—		$	2,595
Restricted cash		—			76			—			—			76
Accounts receivable - trade, net		431			58,769			12			—			59,212
Refundable income taxes		462			—			—			—			462
Prepaid expenses		3,640			4,710			9			—			8,359
Inventory		—			4,151			40			—			4,191
Deferred income taxes		2,331			—			—			—			2,331
Other current assets		296			1,011			7			—			1,314
Current assets of discontinued operations		—			365			—			—			365

Total current assets		9,152			69,343			410			—			78,905
Property, plant and equipment, net		4,160			398,497			649			—			403,306
Goodwill		—			119,139			—			—			119,139
Intangible assets, net		136			12,597			—			—			12,733
Restricted assets		—			703			—			—			703
Cost method investments		16,752			1,932			—			(1,932	)		16,752
Investments in subsidiaries		(25,882	)		—			—			25,882			—
Other non-current assets		13,316			10,371			—			—			23,687
Non-current assets of discontinued operations		—			1,377			—			—			1,377

		8,482			544,616			649			23,950			577,697
Intercompany receivable		538,820			(501,875	)		(38,877	)		1,932			—

	$	556,454		$	112,084		$	(37,818	)	$	25,882		$	656,602


LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	86		$	791		$	—		$	—		$	877
Accounts payable		17,345			29,562			465			—			47,372
Accrued payroll and related expenses		701			3,900			1			—			4,602
Accrued interest		12,950			5			—			—			12,955
Current accrued capping, closure and post-closure costs		—			4,666			3			—			4,669
Other accrued liabilities		7,674			12,098			228			—			20,000

Total current liabilities		38,756			51,022			697			—			90,475
Long-term debt and capital leases, less current maturities		509,018			2,174			—			—			511,192
Accrued capping, closure and post-closure costs, less current portion		—			38,809			37			—			38,846
Deferred income taxes		6,956			—			—			—			6,956
Other long-term liabilities		9,501			7,166			82			—			16,749
STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(7,777	)		12,913			(38,795	)		25,882			(7,777	)
Noncontrolling interests		—			—			161			—			161

Total stockholders’ (deficit) equity		(7,777	)		12,913			(38,634	)		25,882			(7,616	)

	$	556,454		$	112,084		$	(37,818	)	$	25,882		$	656,602

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF APRIL 30, 2014

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


ASSETS	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	2,151		$	271		$	42		$	—		$	2,464
Restricted cash		—			76			—			—			76
Accounts receivable - trade, net		534			51,983			86			—			52,603
Refundable income taxes		465			—			—			—			465
Prepaid expenses		2,617			4,557			2			—			7,176
Inventory		—			3,852			53			—			3,905
Deferred income taxes		2,502			—			—			—			2,502
Other current assets		312			936			7			—			1,255
Current assets of discontinued operations		—			359			—			—			359

Total current assets		8,581			62,034			190			—			70,805
Property, plant and equipment, net		4,104			398,670			650			—			403,424
Goodwill		—			119,139			—			—			119,139
Intangible assets, net		159			13,261			—			—			13,420
Restricted assets		—			681			—			—			681
Cost method investments		16,752			1,932			—			(1,932	)		16,752
Investments in subsidiaries		(36,006	)		—			—			36,006			—
Other non-current assets		13,874			10,331			—			—			24,205
Non-current assets of discontinued operations		—			1,471			—			—			1,471

		(1,117	)		545,485			650			34,074			579,092
Intercompany receivable		543,291			(506,348	)		(38,875	)		1,932			—

	$	550,755		$	101,171		$	(38,035	)	$	36,006		$	649,897


LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	84		$	801		$	—		$	—		$	885
Accounts payable		22,678			28,286			824			—			51,788
Accrued payroll and related expenses		1,212			4,849			1			—			6,062
Accrued interest		6,084			3			—			—			6,087
Current accrued capping, closure and post-closure costs		—			7,309			3			—			7,312
Other accrued liabilities		7,289			10,081			242			—			17,612

Total current liabilities		37,347			51,329			1,070			—			89,746
Long-term debt and capital leases, less current maturities		504,836			2,298			—			—			507,134
Accrued capping, closure and post-closure costs, less current portion		—			37,306			36			—			37,342
Deferred income taxes		6,954			—			—			—			6,954
Other long-term liabilities		10,025			7,149			84			—			17,258
STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(8,407	)		3,089			(39,095	)		36,006			(8,407	)
Noncontrolling interests		—			—			(130	)		—			(130	)

Total stockholders’ (deficit) equity		(8,407	)		3,089			(39,225	)		36,006			(8,537	)

	$	550,755		$	101,171		$	(38,035	)	$	36,006		$	649,897

Schedule of Consolidating Statement of Operations

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED JULY 31, 2014

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
Revenues	$	—		$	141,090		$	297		$	—		$	141,387
Operating expenses:
Cost of operations		17			98,718			31			—			98,766
General and administration		380			16,470			(10	)		—			16,840
Depreciation and amortization		195			16,173			—			—			16,368
Environmental remediation charge		—			75			—			—			75

		592			131,436			21			—			132,049

Operating income (loss)		(592	)		9,654			276			—			9,338

Other expense (income), net:
Interest income		—			(88	)		—			—			(88	)
Interest expense		9,589			(38	)		—			—			9,551
(Income) loss from consolidated entities		(10,089	)		—			—			10,089			—
(Gain) loss on derivative instruments		(69	)		—			—			—			(69	)
Other income		(23	)		(169	)		—			—			(192	)

Other expense, net		(592	)		(295	)		—			10,089			9,202

Income (loss) from continuing operations before income taxes		—			9,949			276			(10,089	)		136
Provision (benefit) for income taxes		290			—			—			—			290

Net income (loss)		(290	)		9,949			276			(10,089	)		(154	)

Less: Net income (loss) attributable to noncontrolling interests		—			—			136			—			136

Net income (loss) attributable to common stockholders	$	(290	)	$	9,949		$	140		$	(10,089	)	$	(290	)

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	)

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, 2014

(in thousands)


	Parent			Guarantors		Non- Guarantors		Elimination			Consolidated
Net income (loss)	$	(290	)	$	9,949	$	276	$	(10,089	)	$	(154	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			12		—		—			12

Other comprehensive income (loss), net of tax		—			12		—		—			12

Comprehensive income (loss)		(290	)		9,961		276		(10,089	)		(142	)
Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—		136		—			136

Comprehensive income (loss) attributable to common stockholders	$	(290	)	$	9,961	$	140	$	(10,089	)	$	(278	)

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 tax:
Unrealized gain (loss) resulting from changes in fair value of derivative instruments		—			—		(289	)		—			(289	)
Realized loss (gain) on derivative instruments reclassified into earnings		—			—		164			—			164

Other comprehensive income (loss), net of tax		—			—		(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	)

Schedule of Condensed Consolidating Statement of Cash Flows

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED JULY 31, 2014

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	(9,238	)	$	22,829		$	(10	)	$	—	$	13,581

Cash Flows from Investing Activities:
Acquisition related additions to property, plant and equipment		—			(45	)		—			—		(45	)
Additions to property, plant and equipment		(227	)		(16,654	)		—			—		(16,881	)
Payments on landfill operating lease contracts		—			(962	)		—			—		(962	)
Payments related to investments		—			(310	)		310			—		—
Proceeds from sale of property and equipment		—			163			—			—		163

Net cash provided by (used in) investing activities		(227	)		(17,808	)		310			—		(17,725	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		—			38,300			—			—		38,300
Principal payments on long-term debt		(34,181	)		(133	)		—			—		(34,314	)
Payments of financing costs		(1	)		—			—			—		(1	)
Proceeds from the exercise of share based awards		—			143			—			—		143
Excess tax benefit on the vesting of share based awards		59			—			—			—		59
Intercompany borrowings		43,429			(43,429	)		—			—		—

Net cash provided by (used in) financing activities		9,306			(5,119	)		—			—		4,187
Net cash provided by (used in) discontinued operations		—			88			—			—		88

Net increase (decrease) in cash and cash equivalents		(159	)		(10	)		300			—		131
Cash and cash equivalents, beginning of period		2,151			271			42			—		2,464

Cash and cash equivalents, end of period	$	1,992		$	261		$	342		$	—	$	2,595

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	)
Acquisition related additions to property, plant and equipment		—			(1,072	)		—			—		(1,072	)
Additions to property, plant and equipment		(237	)		(13,109	)		(61	)		—		(13,407	)
Payments on landfill operating lease contracts		—			(1,982	)		—			—		(1,982	)
Payments related to investments		(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