Subsidiary Guarantors (Tables)

9 Months Ended

Sep. 30, 2015

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 SEPTEMBER 30, 2015

(in thousands)


ASSETS	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	1,586		$	256		$	177		$	—		$	2,019
Accounts receivable - trade, net		376			63,459			—			—			63,835
Refundable income taxes		653			—			—			—			653
Prepaid expenses		3,303			5,678			—			—			8,981
Inventory		—			4,586			—			—			4,586
Deferred income taxes		1,839			—			—			—			1,839
Other current assets		481			3,362			—			—			3,843

Total current assets		8,238			77,341			177			—			85,756

Property, plant and equipment, net		5,791			391,587			—			—			397,378
Goodwill		—			118,976			—			—			118,976
Intangible assets, net		30			9,812			—			—			9,842
Restricted assets		4,500			783			—			—			5,283
Cost method investments		14,115			1,932			—			(1,932	)		14,115
Investments in subsidiaries		17,625			—			—			(17,625	)		—
Other non-current assets		18,797			10,518			—			—			29,315

		60,858			533,608			—			(19,557	)		574,909

Intercompany receivable		495,276			(458,225	)		(38,983	)		1,932			—

	$	564,372		$	152,724		$	(38,806	)	$	(17,625	)	$	660,665


LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	94		$	1,212		$	—		$	—		$	1,306
Accounts payable		19,787			30,056			263			—			50,106
Accrued payroll and related expenses		1,233			5,422			—			—			6,655
Accrued interest		5,139			12			—			—			5,151
Current accrued capping, closure and post-closure costs		—			792			3			—			795
Other accrued liabilities		8,090			8,794			—			—			16,884

Total current liabilities		34,343			46,288			266			—			80,897

Long-term debt and capital leases, less current maturities		529,551			888			—			—			530,439
Accrued capping, closure and post-closure costs, less current portion		—			41,275			34			—			41,309
Deferred income taxes		7,272			—			—			—			7,272
Other long-term liabilities		8,689			7,615			—			—			16,304
														—

STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(15,483	)		56,658			(39,033	)		(17,625	)		(15,483	)
Noncontrolling interests		—			—			(73	)		—			(73	)

Total stockholders’ (deficit) equity		(15,483	)		56,658			(39,106	)		(17,625	)		(15,556	)

	$	564,372		$	152,724		$	(38,806	)	$	(17,625	)	$	660,665

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2014

(in thousands)


ASSETS	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
CURRENT ASSETS:
Cash and cash equivalents	$	1,596		$	253		$	356		$	—		$	2,205
Restricted cash		—			76			—			—			76
Accounts receivable - trade, net		597			55,053			100			—			55,750
Refundable income taxes		554			—			—			—			554
Prepaid expenses		3,622			5,136			5			—			8,763
Inventory		—			4,345			29			—			4,374
Deferred income taxes		2,095			—			—			—			2,095
Other current assets		296			4,549			7			—			4,852

Total current assets		8,760			69,412			497			—			78,669

Property, plant and equipment, net		5,049			408,843			650			—			414,542
Goodwill		—			119,170			—			—			119,170
Intangible assets, net		98			11,710			—			—			11,808
Restricted assets		5,819			813			—			—			6,632
Cost method investments		14,432			1,932			—			(1,932	)		14,432
Investments in subsidiaries		(9,888	)		—			—			9,888			—
Other non-current assets		14,611			9,931			—			—			24,542

		30,121			552,399			650			7,956			591,126

Intercompany receivable		537,228			(500,267	)		(38,893	)		1,932			—

	$	576,109		$	121,544		$	(37,746	)	$	9,888		$	669,795


LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	89		$	1,567		$	—		$	—		$	1,656
Accounts payable		17,953			30,040			525			—			48,518
Accrued payroll and related expenses		1,536			4,751			2			—			6,289
Accrued interest		11,083			11			—			—			11,094
Current accrued capping, closure and post-closure costs		—			2,205			3			—			2,208
Other accrued liabilities		8,618			7,957			92			—			16,667

Total current liabilities		39,279			46,531			622			—			86,432

Long-term debt and capital leases, less current maturities		532,889			1,166			—			—			534,055
Accrued capping, closure and post-closure costs, less current portion		—			37,589			32			—			37,621
Deferred income taxes		7,080			—			—			—			7,080
Other long-term liabilities		9,114			7,433			80			—			16,627

STOCKHOLDERS’ (DEFICIT) EQUITY:
Casella Waste Systems, Inc. stockholders (deficit)’ equity		(12,253	)		28,825			(38,713	)		9,888			(12,253	)
Noncontrolling interests		—			—			233			—			233

Total stockholders’ (deficit) equity		(12,253	)		28,825			(38,480	)		9,888			(12,020	)

	$	576,109		$	121,544		$	(37,746	)	$	9,888		$	669,795

Schedule of Consolidating Statement of Operations

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
Revenues	$	—		$	146,185		$	—		$	—		$	146,185

Operating expenses:
Cost of operations		6			99,582			68			—			99,656
General and administration		2,054			15,385			9			—			17,448
Depreciation and amortization		267			16,118			—			—			16,385

		2,327			131,085			77			—			133,489

Operating income (loss)		(2,327	)		15,100			(77	)		—			12,696

Other expense (income), net:
Interest income		—			(56	)		—			—			(56	)
Interest expense		10,053			34			—			—			10,087
(Income) loss on derivative instruments		41			—			—			—			41
Loss on debt extinguishment		345			—			—			—			345
(Income) loss from consolidated entities		(15,247	)		—			—			15,247			—
Other income		(13	)		(165	)		—			—			(178	)

Other expense (income), net		(4,821	)		(187	)		—			15,247			10,239

Income (loss) before income taxes		2,494			15,287			(77	)		(15,247	)		2,457
Provision (benefit) for income taxes		198			—			—			—			198

Net income (loss)		2,296			15,287			(77	)		(15,247	)		2,259

Less: Net income (loss) attributable to noncontrolling interests		—			—			(37	)		—			(37	)

Net income (loss) attributable to common stockholders	$	2,296		$	15,287		$	(40	)	$	(15,247	)	$	2,296

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2014

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
Revenues	$	—		$	141,591		$	333		$	—		$	141,924

Operating expenses:
Cost of operations		11			98,199			18			—			98,228
General and administration		1,226			15,996			(11	)		—			17,211
Depreciation and amortization		187			15,600			—			—			15,787
Environmental remediation charge		—			75			—			—			75

		1,424			129,870			7			—			131,301

Operating income (loss)		(1,424	)		11,721			326			—			10,623

Other expense (income), net:
Interest income		—			(84	)		—			—			(84	)
Interest expense		9,621			(97	)		—			—			9,524
(Income) loss on derivative instruments		(82	)		—			—			—			(82	)
(Income) loss from consolidated entities		(12,245	)		—			—			12,245			—
Other income		(27	)		(177	)		—			—			(204	)

Other expense (income), net		(2,733	)		(358	)		—			12,245			9,154

Income (loss) before income taxes		1,309			12,079			326			(12,245	)		1,469
Provision (benefit) for income taxes		229			—			—			—			229

Net income (loss)		1,080			12,079			326			(12,245	)		1,240

Less: Net income (loss) attributable to noncontrolling interests		—			—			160			—			160

Net income (loss) attributable to common stockholders	$	1,080		$	12,079		$	166		$	(12,245	)	$	1,080

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
Revenues	$	—		$	406,352		$	124		$	—		$	406,476

Operating expenses:
Cost of operations		(43	)		285,816			452			—			286,225
General and administration		1,858			50,452			14			—			52,324
Depreciation and amortization		767			45,607			—			—			46,374
Divestiture transactions		—			(2,761	)		(2,850	)		—			(5,611	)

		2,582			379,114			(2,384	)		—			379,312

Operating income (loss)		(2,582	)		27,238			2,508			—			27,164

Other expense (income), net:
Interest income		(47	)		(220	)		—			—			(267	)
Interest expense		30,137			142			84			—			30,363
Loss on debt extinguishment		866			—			—			—			866
(Income) loss on derivative instruments		239			—			—			—			239
(Income) loss from consolidated entities		(28,942	)		—			—			28,942			—
Other income		4			(391	)		—			—			(387	)

Other expense (income), net		2,257			(469	)		84			28,942			30,814

Income (loss) before income taxes		(4,839	)		27,707			2,424			(28,942	)		(3,650	)
Provision (benefit) for income taxes		1,112			—			—			—			1,112

Net income (loss)		(5,951	)		27,707			2,424			(28,942	)		(4,762	)

Less: Net income (loss) attributable to noncontrolling interests		—			—			1,189			—			1,189

Net income (loss) attributable to common stockholders	$	(5,951	)	$	27,707		$	1,235		$	(28,942	)	$	(5,951	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 2014

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
Revenues	$	—		$	391,386		$	1,014		$	—		$	392,400

Operating expenses:
Cost of operations		(11	)		280,918			943			—			281,850
General and administration		2,366			46,814			12			—			49,192
Depreciation and amortization		675			45,631			256			—			46,562
Divestiture transactions		—			—			7,455			—			7,455
Development project charge		—			1,394			—			—			1,394
Severance and reorganization costs		—			430			—			—			430
Environmental remediation charge		—			75			—			—			75
Expense from divestiture, acquisition and financing costs		—			24			—			—			24
Gain on settlement of acquisition related contingent consideration		—			(1,058	)		—			—			(1,058	)

		3,030			374,228			8,666			—			385,924

Operating income (loss)		(3,030	)		17,158			(7,652	)		—			6,476

Other expense (income), net:
Interest income		(2	)		(277	)		—			—			(279	)
Interest expense		28,769			(51	)		—			—			28,718
(Income) loss on derivative instruments		366			—			—			—			366
(Income) loss from equity method investments		—			(90	)		—			—			(90	)
(Gain) loss on sale of equity method investment		—			—			221			—			221
(Income) loss from consolidated entities		(13,925	)		—			—			13,925			—
Other income		(300	)		(472	)		—			—			(772	)

Other expense (income), net		14,908			(890	)		221			13,925			28,164

Income (loss) before income taxes		(17,938	)		18,048			(7,873	)		(13,925	)		(21,688	)
Provision (benefit) for income taxes		1,060			—			—			—			1,060

Net income (loss)		(18,998	)		18,048			(7,873	)		(13,925	)		(22,748	)

Less: Net income (loss) attributable to noncontrolling interests		—			—			(3,750	)		—			(3,750	)

Net income (loss) attributable to common stockholders	$	(18,998	)	$	18,048		$	(4,123	)	$	(13,925	)	$	(18,998	)

Schedule of Consolidating Statement of Comprehensive Income (Loss)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED SEPTEMBER 30, 2015

(in thousands)


	Parent		Guarantors			Non - Guarantors			Elimination			Consolidated
Net income (loss)	$	2,296	$	15,287		$	(77	)	$	(15,247	)	$	2,259
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—		(44	)		—			—			(44	)

Other comprehensive income (loss), net of tax		—		(44	)		—			—			(44	)

Comprehensive income (loss)		2,296		15,243			(77	)		(15,247	)		2,215

Less: Comprehensive income (loss) attributable to noncontrolling interests		—		—			(37	)		—			(37	)

Comprehensive income (loss) attributable to common stockholders	$	2,296	$	15,243		$	(40	)	$	(15,247	)	$	2,252

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED SEPTEMBER 30, 2014

(in thousands)


	Parent		Guarantors		Non - Guarantors		Elimination			Consolidated
Net income (loss)	$	1,080	$	12,079	$	326	$	(12,245	)	$	1,240
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities, net of tax		—		6		—		—			6

Other comprehensive income (loss), net of tax		—		6		—		—			6

Comprehensive income (loss)		1,080		12,085		326		(12,245	)		1,246

Less: Comprehensive income (loss) attributable to noncontrolling interests		—		—		160		—			160

Comprehensive income (loss) attributable to common stockholders	$	1,080	$	12,085	$	166	$	(12,245	)	$	1,086

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

NINE MONTHS ENDED SEPTEMBER 30, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors		Elimination			Consolidated
Net income (loss)	$	(5,951	)	$	27,707		$	2,424	$	(28,942	)	$	(4,762	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities		—			(75	)		—		—			(75	)

Other comprehensive income (loss), net of tax		—			(75	)		—		—			(75	)

Comprehensive income (loss)		(5,951	)		27,632			2,424		(28,942	)		(4,837	)

Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—			1,189		—			1,189

Comprehensive income (loss) attributable to common stockholders	$	(5,951	)	$	27,632		$	1,235	$	(28,942	)	$	(6,026	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

NINE MONTHS ENDED SEPTEMBER 30, 2014

(in thousands)


	Parent			Guarantors		Non - Guarantors			Elimination			Consolidated
Net income (loss)	$	(18,998	)	$	18,048	$	(7,873	)	$	(13,925	)	$	(22,748	)
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) resulting from changes in fair value of marketable securities, net of tax		—			9		—			—			9

Other comprehensive income (loss), net of tax		—			9		—			—			9

Comprehensive income (loss)		(18,998	)		18,057		(7,873	)		(13,925	)		(22,739	)

Less: Comprehensive income (loss) attributable to noncontrolling interests		—			—		(3,750	)		—			(3,750	)

Comprehensive income (loss) attributable to common stockholders	$	(18,998	)	$	18,057	$	(4,123	)	$	(13,925	)	$	(18,989	)

Schedule of Condensed Consolidating Statement of Cash Flows

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

NINE MONTHS ENDED SEPTEMBER 30, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	3,736		$	37,423		$	(629	)	$	—	$	40,530

Cash Flows from Investing Activities:
Additions to property, plant and equipment		(1,441	)		(29,597	)		—			—		(31,038	)
Payments on landfill operating lease contracts		—			(2,956	)		—			—		(2,956	)
Payments related to investments		—			1,555			(1,555	)		—		—
Proceeds from divestiture transactions		—			1,835			3,500			—		5,335
Proceeds from sale of property and equipment		—			636			—			—		636
Proceeds from property insurance settlement		—			546			—			—		546

Net cash provided by (used in) investing activities		(1,441	)		(27,981	)		1,945			—		(27,477	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		296,911			18			—			—		296,929
Principal payments on long-term debt		(300,568	)		(652	)		—			—		(301,220	)
Change in restricted cash		1,319			—			—			—		1,319
Payments of financing costs		(8,991	)		—			—			—		(8,991	)
Payment of redemption premium on long-term debt		(121	)		—			—			—		(121	)
Proceeds from the exercise of share based awards		161			—			—			—		161
Excess tax benefit on the vesting of share based awards		179			—			—			—		179
Distributions to noncontrolling interest holder		—			—			(1,495	)		—		(1,495	)
Intercompany borrowings		8,805			(8,805	)		—			—		—

Net cash provided by (used in) financing activities		(2,305	)		(9,439	)		(1,495	)		—		(13,239	)
Net increase (decrease) in cash and cash equivalents		(10	)		3			(179	)		—		(186	)
Cash and cash equivalents, beginning of period		1,596			253			356			—		2,205

Cash and cash equivalents, end of period	$	1,586		$	256		$	177		$	—	$	2,019

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

NINE MONTHS ENDED SEPTEMBER 30, 2014

(in thousands)


	Parent			Guarantors			Non-Guarantors			Elimination		Consolidated
Net cash provided by (used in) operating activities	$	(4,295	)	$	41,623		$	(64	)	$	—	$	37,264

Cash Flows from Investing Activities:
Acquisitions, net of cash acquired		—			(62	)		—			—		(62	)
Acquisition related additions to property, plant and equipment		—			(266	)		—			—		(266	)
Additions to property, plant and equipment		(689	)		(42,325	)		—			—		(43,014	)
Payments on landfill operating lease contracts		—			(3,017	)		—			—		(3,017	)
Proceeds from sale of property and equipment		—			559			—			—		559
Proceeds from sale of equity method investment		597			—			—			—		597
Payments related to investments		(84	)		(310	)		310			—		(84	)

Net cash provided by (used in) investing activities		(176	)		(45,421	)		310			—		(45,287	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		134,560			—			—			—		134,560
Principal payments on long-term debt		(126,121	)		(592	)		—			—		(126,713	)
Payments of financing costs		(24	)		—			—			—		(24	)
Proceeds from the exercise of share based awards		286			—			—			—		286
Excess tax benefit on the vesting of share based awards		14			—			—			—		14
Intercompany borrowings		(4,139	)		4,139			—			—		—

Net cash provided by (used in) financing activities		4,576			3,547			—			—		8,123
Net cash provided by (used in) discontinued operations		—			263			—			—		263

Net increase (decrease) in cash and cash equivalents		105			12			246			—		363
Cash and cash equivalents, beginning of period		2,312			243			140			—		2,695

Cash and cash equivalents, end of period	$	2,417		$	255		$	386		$	—	$	3,058