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Subsidiary Guarantors (Tables) | 8 Months Ended
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Dec. 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 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 |
Investments in unconsolidated entities |  |  | 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 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF APRIL 30, 2014 (in thousands)
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 |
Investments in unconsolidated entities |  |  | 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 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEET AS OF APRIL 30, 2013 (in thousands)
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/employee |  |  | 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 |  | $ | — |  |  | $ | 1,218 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,218 |
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 |  |  |  | 2,022 |  |  |  | — |  |  |  | — |  |  |  | 494,987 |
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 |
COMMITMENTS AND CONTINGENCIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
STOCKHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casella Waste Systems, Inc. stockholders’ (deficit) 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 EIGHT MONTHS ENDED DECEMBER 31, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 367,576 |  |  | $ | 798 |  |  | $ | — |  |  | $ | 368,374 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 175 |  |  |  | 258,142 |  |  |  | 333 |  |  |  | — |  |  |  | 258,650 |
General and administration |  |  | 2,681 |  |  |  | 43,011 |  |  |  | 40 |  |  |  | — |  |  |  | 45,732 |
Depreciation and amortization |  |  | 548 |  |  |  | 40,942 |  |  |  | (5 | ) |  |  | — |  |  |  | 41,485 |
Environmental remediation charge |  |  | — |  |  |  | 950 |  |  |  | — |  |  |  | — |  |  |  | 950 |
(Gain) expense from divestiture, acquisition and financing costs |  |  | — |  |  |  | (553 | ) |  |  | — |  |  |  | — |  |  |  | (553 | )
|  |  | 3,404 |  |  |  | 342,492 |  |  |  | 368 |  |  |  | — |  |  |  | 346,264 |
Operating income (loss) |  |  | (3,404 | ) |  |  | 25,084 |  |  |  | 430 |  |  |  | — |  |  |  | 22,110 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | — |  |  |  | (247 | ) |  |  | — |  |  |  | — |  |  |  | (247 | )
Interest expense |  |  | 25,815 |  |  |  | (176 | ) |  |  | — |  |  |  | — |  |  |  | 25,639 |
(Income) loss from consolidated entities |  |  | (26,148 | ) |  |  | — |  |  |  | — |  |  |  | 26,148 |  |  |  | — |
Impairment of investments |  |  | 2,320 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,320 |
(Gain) loss on derivative instruments |  |  | 225 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 225 |
Other income |  |  | (301 | ) |  |  | (419 | ) |  |  | — |  |  |  | — |  |  |  | (720 | )
Other expense, net |  |  | 1,911 |  |  |  | (842 | ) |  |  | — |  |  |  | 26,148 |  |  |  | 27,217 |
Income (loss) from continuing operations before income taxes |  |  | (5,315 | ) |  |  | 25,926 |  |  |  | 430 |  |  |  | (26,148 | ) |  |  | (5,107 | )
Provision (benefit) for income taxes |  |  | 703 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 703 |
Net income (loss) |  |  | (6,018 | ) |  |  | 25,926 |  |  |  | 430 |  |  |  | (26,148 | ) |  |  | (5,810 | )
Less: Net income (loss) attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | 208 |  |  |  | — |  |  |  | 208 |
Net income (loss) attributable to common stockholders |  | $ | (6,018 | ) |  | $ | 25,926 |  |  | $ | 222 |  |  | $ | (26,148 | ) |  | $ | (6,018 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS FISCAL YEAR ENDED APRIL 30, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 495,391 |  |  | $ | 2,242 |  |  | $ | — |  |  | $ | 497,633 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | (23 | ) |  |  | 351,829 |  |  |  | 2,786 |  |  |  | — |  |  |  | 354,592 |
General and administration |  |  | 1,377 |  |  |  | 60,446 |  |  |  | 42 |  |  |  | — |  |  |  | 61,865 |
Depreciation and amortization |  |  | 935 |  |  |  | 58,651 |  |  |  | 753 |  |  |  | — |  |  |  | 60,339 |
Asset impairment charge |  |  | — |  |  |  | — |  |  |  | 7,455 |  |  |  | — |  |  |  | 7,455 |
Development project charge |  |  | — |  |  |  | 1,394 |  |  |  | — |  |  |  | — |  |  |  | 1,394 |
Severance and reorganization costs |  |  | 4 |  |  |  | 582 |  |  |  | — |  |  |  | — |  |  |  | 586 |
Environmental remediation charge |  |  | — |  |  |  | 400 |  |  |  | — |  |  |  | — |  |  |  | 400 |
Expense from divestiture, acquisition and financing costs |  |  | — |  |  |  | 144 |  |  |  | — |  |  |  | — |  |  |  | 144 |
Change in fair value of acquisition related contingent consideration |  |  | — |  |  |  | (1,058 | ) |  |  | — |  |  |  | — |  |  |  | (1,058 | )
|  |  | 2,293 |  |  |  | 472,388 |  |  |  | 11,036 |  |  |  | — |  |  |  | 485,717 |
Operating income (loss) |  |  | (2,293 | ) |  |  | 23,003 |  |  |  | (8,794 | ) |  |  | — |  |  |  | 11,916 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (4 | ) |  |  | (308 | ) |  |  | — |  |  |  | — |  |  |  | (312 | )
Interest expense |  |  | 38,095 |  |  |  | 80 |  |  |  | — |  |  |  | — |  |  |  | 38,175 |
(Income) loss from equity method investments |  |  | (18,811 | ) |  |  | (169 | ) |  |  | 1,105 |  |  |  | 18,811 |  |  |  | 936 |
(Gain) loss on sale of equity method investment |  |  | — |  |  |  | — |  |  |  | (593 | ) |  |  | — |  |  |  | (593 | )
(Gain) loss on derivative instruments |  |  | 280 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 280 |
Other income |  |  | (557 | ) |  |  | (501 | ) |  |  | (1 | ) |  |  | — |  |  |  | (1,059 | )
Other expense, net |  |  | 19,003 |  |  |  | (898 | ) |  |  | 511 |  |  |  | 18,811 |  |  |  | 37,427 |
Income (loss) from continuing operations before income taxes |  |  | (21,296 | ) |  |  | 23,901 |  |  |  | (9,305 | ) |  |  | (18,811 | ) |  |  | (25,511 | )
Provision (benefit) for income taxes |  |  | 1,799 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,799 |
Income (loss) from continuing operations |  |  | (23,095 | ) |  |  | 23,901 |  |  |  | (9,305 | ) |  |  | (18,811 | ) |  |  | (27,310 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations, net |  |  | — |  |  |  | 284 |  |  |  | — |  |  |  | — |  |  |  | 284 |
Gain (loss) on disposal of discontinued operations, net |  |  | — |  |  |  | (378 | ) |  |  | — |  |  |  | — |  |  |  | (378 | )
Net income (loss) |  |  | (23,095 | ) |  |  | 23,807 |  |  |  | (9,305 | ) |  |  | (18,811 | ) |  |  | (27,404 | )
Less: Net income (loss) attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | (4,309 | ) |  |  | — |  |  |  | (4,309 | )
Net income (loss) attributable to common stockholders |  | $ | (23,095 | ) |  | $ | 23,807 |  |  | $ | (4,996 | ) |  | $ | (18,811 | ) |  | $ | (23,095 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF OPERATIONS FISCAL YEAR ENDED APRIL 30, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 453,589 |  |  | $ | 1,746 |  |  | $ | — |  |  | $ | 455,335 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | (295 | ) |  |  | 321,382 |  |  |  | 1,927 |  |  |  | — |  |  |  | 323,014 |
General and administration |  |  | 220 |  |  |  | 57,898 |  |  |  | 87 |  |  |  | — |  |  |  | 58,205 |
Depreciation and amortization |  |  | 1,017 |  |  |  | 55,142 |  |  |  | 417 |  |  |  | — |  |  |  | 56,576 |
Severance and reorganization costs |  |  | 1,766 |  |  |  | 1,943 |  |  |  | — |  |  |  | — |  |  |  | 3,709 |
Expense from divestiture, acquisition and financing costs |  |  | 303 |  |  |  | 1,107 |  |  |  | — |  |  |  | — |  |  |  | 1,410 |
|  |  | 3,011 |  |  |  | 437,472 |  |  |  | 2,431 |  |  |  | — |  |  |  | 442,914 |
Operating income (loss) |  |  | (3,011 | ) |  |  | 16,117 |  |  |  | (685 | ) |  |  | — |  |  |  | 12,421 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (32,896 | ) |  |  | (113 | ) |  |  | — |  |  |  | 32,868 |  |  |  | (141 | )
Interest expense |  |  | 42,405 |  |  |  | 32,033 |  |  |  | — |  |  |  | (32,868 | ) |  |  | 41,570 |
Loss (income) from equity method investments |  |  | 24,723 |  |  |  | 36 |  |  |  | 4,405 |  |  |  | (24,723 | ) |  |  | 4,441 |
Loss on derivative instruments |  |  | 4,512 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,512 |
Loss on debt extinguishment |  |  | 15,584 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,584 |
Other income |  |  | (671 | ) |  |  | (365 | ) |  |  | — |  |  |  | — |  |  |  | (1,036 | )
Other expense, net |  |  | 53,657 |  |  |  | 31,591 |  |  |  | 4,405 |  |  |  | (24,723 | ) |  |  | 64,930 |
Income (loss) from continuing operations before income taxes |  |  | (56,668 | ) |  |  | (15,474 | ) |  |  | (5,090 | ) |  |  | 24,723 |  |  |  | (52,509 | )
Provision (benefit) for income taxes |  |  | (2,526 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,526 | )
Loss from continuing operations |  |  | (54,142 | ) |  |  | (15,474 | ) |  |  | (5,090 | ) |  |  | 24,723 |  |  |  | (49,983 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations, net |  |  | — |  |  |  | (4,480 | ) |  |  | — |  |  |  | — |  |  |  | (4,480 | )
Gain (loss) on disposal of discontinued operations, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) |  |  | (54,142 | ) |  |  | (19,954 | ) |  |  | (5,090 | ) |  |  | 24,723 |  |  |  | (54,463 | )
Less: Net income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (321 | ) |  |  | — |  |  |  | (321 | )
Net income (loss) attributable to common stockholders |  | $ | (54,142 | ) |  | $ | (19,954 | ) |  | $ | (4,769 | ) |  | $ | 24,723 |  |  | $ | (54,142 | )
FISCAL YEAR ENDED APRIL 30, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Revenues |  | $ | — |  |  | $ | 467,950 |  |  | $ | — |  |  | $ | — |  |  | $ | 467,950 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of operations |  |  | 16 |  |  |  | 318,047 |  |  |  | 5 |  |  |  | — |  |  |  | 318,068 |
General and administration |  |  | 576 |  |  |  | 59,677 |  |  |  | 11 |  |  |  | — |  |  |  | 60,264 |
Depreciation and amortization |  |  | 1,568 |  |  |  | 56,850 |  |  |  | (3 | ) |  |  | — |  |  |  | 58,415 |
Asset impairment charge |  |  | — |  |  |  | 40,746 |  |  |  | — |  |  |  | — |  |  |  | 40,746 |
Legal settlement |  |  | 1,000 |  |  |  | 359 |  |  |  | — |  |  |  | — |  |  |  | 1,359 |
Development project charge |  |  | — |  |  |  | 131 |  |  |  | — |  |  |  | — |  |  |  | 131 |
|  |  | 3,160 |  |  |  | 475,810 |  |  |  | 13 |  |  |  | — |  |  |  | 478,983 |
Operating income (loss) |  |  | (3,160 | ) |  |  | (7,860 | ) |  |  | (13 | ) |  |  | — |  |  |  | (11,033 | )
Other expense/(income), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (39,871 | ) |  |  | (34 | ) |  |  | — |  |  |  | 39,863 |  |  |  | (42 | )
Interest expense |  |  | 46,058 |  |  |  | 38,813 |  |  |  | — |  |  |  | (39,863 | ) |  |  | 45,008 |
Loss (income) from equity method investments |  |  | 66,832 |  |  |  | (7 | ) |  |  | 10,001 |  |  |  | (66,832 | ) |  |  | 9,994 |
Impairment of equity method investment |  |  | — |  |  |  | — |  |  |  | 10,680 |  |  |  | — |  |  |  | 10,680 |
Loss on debt extinguishment |  |  | 300 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 300 |
Other income |  |  | (486 | ) |  |  | (377 | ) |  |  | — |  |  |  | — |  |  |  | (863 | )
Other expense, net |  |  | 72,833 |  |  |  | 38,395 |  |  |  | 20,681 |  |  |  | (66,832 | ) |  |  | 65,077 |
Income (loss) from continuing operations before income taxes |  |  | (75,993 | ) |  |  | (46,255 | ) |  |  | (20,694 | ) |  |  | 66,832 |  |  |  | (76,110 | )
Provision (benefit) for income taxes |  |  | 1,593 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,593 |
Income (loss) from continuing operations |  |  | (77,586 | ) |  |  | (46,255 | ) |  |  | (20,694 | ) |  |  | 66,832 |  |  |  | (77,703 | )
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from discontinued operations, net |  |  | — |  |  |  | (614 | ) |  |  | — |  |  |  | — |  |  |  | (614 | )
Gain (loss) on disposal of discontinued operations, net of tax |  |  | — |  |  |  | 725 |  |  |  | — |  |  |  | — |  |  |  | 725 |
Net income (loss) |  |  | (77,586 | ) |  |  | (46,144 | ) |  |  | (20,694 | ) |  |  | 66,832 |  |  |  | (77,592 | )
Less: Net income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Net income (loss) attributable to common stockholders |  | $ | (77,586 | ) |  | $ | (46,144 | ) |  | $ | (20,688 | ) |  | $ | 66,832 |  |  | $ | (77,586 | )
Schedule of Consolidating Statement of Comprehensive Income (Loss) | CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) EIGHT MONTHS ENDED DECEMBER 31, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (6,018 | ) |  | $ | 25,926 |  |  | $ | 430 |  |  | $ | (26,148 | ) |  | $ | (5,810 | )
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 19 |
Other comprehensive income (loss), net of tax |  |  | — |  |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 19 |
Comprehensive income (loss) |  |  | (6,018 | ) |  |  | 25,945 |  |  |  | 430 |  |  |  | (26,148 | ) |  |  | (5,791 | )
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | 208 |  |  |  | — |  |  |  | 208 |
Comprehensive income (loss) attributable to common stockholders |  | $ | (6,018 | ) |  | $ | 25,945 |  |  | $ | 222 |  |  | $ | (26,148 | ) |  | $ | (5,999 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FISCAL YEAR ENDED APRIL 30, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (23,095 | ) |  | $ | 23,807 |  |  | $ | (9,305 | ) |  | $ | (18,811 | ) |  | $ | (27,404 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments |  |  | — |  |  |  | — |  |  |  | (36 | ) |  |  | — |  |  |  | (36 | )
Realized loss (gain) on derivative instruments reclassified into earnings |  |  | — |  |  |  | — |  |  |  | 655 |  |  |  | — |  |  |  | 655 |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | 12 |
Other comprehensive income (loss) |  |  | — |  |  |  | 12 |  |  |  | 619 |  |  |  | — |  |  |  | 631 |
Comprehensive income (loss) |  |  | (23,095 | ) |  |  | 23,819 |  |  |  | (8,686 | ) |  |  | (18,811 | ) |  |  | (26,773 | )
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | (4,309 | ) |  |  | — |  |  |  | (4,309 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (23,095 | ) |  | $ | 23,819 |  |  | $ | (4,377 | ) |  | $ | (18,811 | ) |  | $ | (22,464 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FISCAL YEAR ENDED APRIL 30, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (54,142 | ) |  | $ | (19,954 | ) |  | $ | (5,090 | ) |  | $ | 24,723 |  |  | $ | (54,463 | )
Other comprehensive income (loss), net of taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments |  |  | (1,257 | ) |  |  | — |  |  |  | (1,653 | ) |  |  | — |  |  |  | (2,910 | )
Realized loss (gain) on derivative instruments reclassified into earnings |  |  | 3,626 |  |  |  | — |  |  |  | 621 |  |  |  | — |  |  |  | 4,247 |
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 23 |
Other comprehensive income (loss) |  |  | 2,369 |  |  |  | 23 |  |  |  | (1,032 | ) |  |  | — |  |  |  | 1,360 |
Comprehensive income (loss) |  |  | (51,773 | ) |  |  | (19,931 | ) |  |  | (6,122 | ) |  |  | 24,723 |  |  |  | (53,103 | )
Less: Comprehensive income (loss) attributable to noncontrolling interests |  |  | — |  |  |  | — |  |  |  | (321 | ) |  |  | — |  |  |  | (321 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (51,773 | ) |  | $ | (19,931 | ) |  | $ | (5,801 | ) |  | $ | 24,723 |  |  | $ | (52,782 | )
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) FISCAL YEAR ENDED APRIL 30, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net income (loss) |  | $ | (77,586 | ) |  | $ | (46,144 | ) |  | $ | (20,694 | ) |  | $ | 66,832 |  |  | $ | (77,592 | )
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unrealized gain (loss) resulting from changes in fair value of derivative instruments |  |  | (2,253 | ) |  |  | — |  |  |  | 504 |  |  |  | — |  |  |  | (1,749 | )
Realized loss (gain) on derivative instruments reclassified into earnings |  |  | (77 | ) |  |  | — |  |  |  | (501 | ) |  |  | — |  |  |  | (578 | )
Unrealized gain (loss) resulting from changes in fair value of marketable securities |  |  | — |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | (3 | )
Other comprehensive income (loss) |  |  | (2,330 | ) |  |  | (3 | ) |  |  | 3 |  |  |  | — |  |  |  | (2,330 | )
Comprehensive income (loss) |  |  | (79,916 | ) |  |  | (46,147 | ) |  |  | (20,691 | ) |  |  | 66,832 |  |  |  | (79,922 | )
Less: Comprehensive income (loss) attributable to noncontrolling interest |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Comprehensive income (loss) attributable to common stockholders |  | $ | (79,916 | ) |  | $ | (46,147 | ) |  | $ | (20,685 | ) |  | $ | 66,832 |  |  | $ | (79,916 | )
Schedule of Condensed Consolidating Statement of Cash Flows |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS EIGHT MONTHS ENDED DECEMBER 31, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (27,340 | ) |  | $ | 65,622 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 38,286 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (360 | ) |  |  | — |  |  |  | — |  |  |  | (360 | )
Acquisition related additions to property, plant and equipment |  |  | — |  |  |  | (45 | ) |  |  | — |  |  |  | — |  |  |  | (45 | )
Additions to property, plant and equipment |  |  | (1,433 | ) |  |  | (53,583 | ) |  |  | — |  |  |  | — |  |  |  | (55,016 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (4,739 | ) |  |  | — |  |  |  | — |  |  |  | (4,739 | )
Payments related to investments |  |  | — |  |  |  | (310 | ) |  |  | 310 |  |  |  | — |  |  |  | — |
Proceeds from sale of property and equipment |  |  | — |  |  |  | 463 |  |  |  | — |  |  |  | — |  |  |  | 463 |
Net cash provided by (used in) investing activities |  |  | (1,433 | ) |  |  | (58,574 | ) |  |  | 310 |  |  |  | — |  |  |  | (59,697 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | — |  |  |  | 136,800 |  |  |  | — |  |  |  | — |  |  |  | 136,800 |
Principal payments on long-term debt |  |  | (108,917 | ) |  |  | (364 | ) |  |  | — |  |  |  | — |  |  |  | (109,281 | )
Change in restricted cash |  |  | (5,819 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,819 | )
Payments of financing costs |  |  | (2,605 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,605 | )
Proceeds from the exercise of share based awards |  |  | 143 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 143 |
Excess tax benefit on the vesting of share based awards |  |  | 84 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 84 |
Intercompany borrowings |  |  | 145,332 |  |  |  | (145,332 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | 28,218 |  |  |  | (8,896 | ) |  |  | — |  |  |  | — |  |  |  | 19,322 |
Net cash provided by (used in) discontinued operations |  |  | — |  |  |  | 1,830 |  |  |  | — |  |  |  | — |  |  |  | 1,830 |
Net increase (decrease) in cash and cash equivalents |  |  | (555 | ) |  |  | (18 | ) |  |  | 314 |  |  |  | — |  |  |  | (259 | )
Cash and cash equivalents, beginning of period |  |  | 2,151 |  |  |  | 271 |  |  |  | 42 |  |  |  | — |  |  |  | 2,464 |
Cash and cash equivalents, end of period |  | $ | 1,596 |  |  | $ | 253 |  |  | $ | 356 |  |  | $ | — |  |  | $ | 2,205 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FISCAL YEAR ENDED APRIL 30, 2014 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (40,365 | ) |  | $ | 89,792 |  |  | $ | 215 |  |  | $ | — |  |  | $ | 49,642 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (8,305 | ) |  |  | — |  |  |  | — |  |  |  | (8,305 | )
Acquisition related additions to property, plant and equipment |  |  | — |  |  |  | (2,633 | ) |  |  | — |  |  |  | — |  |  |  | (2,633 | )
Additions to property, plant and equipment |  |  | (1,675 | ) |  |  | (41,236 | ) |  |  | (415 | ) |  |  | — |  |  |  | (43,326 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (6,505 | ) |  |  | — |  |  |  | — |  |  |  | (6,505 | )
Payments related to investments |  |  | (2,107 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2,107 | )
Proceeds from sale of equity method investment |  |  | 3,442 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,442 |
Proceeds from sale of property and equipment |  |  | — |  |  |  | 1,524 |  |  |  | — |  |  |  | — |  |  |  | 1,524 |
Net cash provided by (used in) investing activities |  |  | (340 | ) |  |  | (57,155 | ) |  |  | (415 | ) |  |  | — |  |  |  | (57,910 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | 161,650 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 161,650 |
Principal payments on long-term debt |  |  | (151,074 | ) |  |  | (1,306 | ) |  |  | — |  |  |  | — |  |  |  | (152,380 | )
Payments of financing costs |  |  | (405 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (405 | )
Proceeds from the exercise of share based awards |  |  | — |  |  |  | 143 |  |  |  | — |  |  |  | — |  |  |  | 143 |
Intercompany borrowings |  |  | 31,425 |  |  |  | (31,425 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | 41,596 |  |  |  | (32,588 | ) |  |  | — |  |  |  | — |  |  |  | 9,008 |
Net cash provided by (used in) discontinued operations |  |  | — |  |  |  | (31 | ) |  |  | — |  |  |  | — |  |  |  | (31 | )
Net increase (decrease) in cash and cash equivalents |  |  | 891 |  |  |  | 18 |  |  |  | (200 | ) |  |  | — |  |  |  | 709 |
Cash and cash equivalents, beginning of period |  |  | 1,260 |  |  |  | 253 |  |  |  | 242 |  |  |  | — |  |  |  | 1,755 |
Cash and cash equivalents, end of period |  | $ | 2,151 |  |  | $ | 271 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 2,464 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FISCAL YEAR ENDED APRIL 30, 2013 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (5,319 | ) |  | $ | 50,527 |  |  | $ | (1,302 | ) |  | $ | — |  |  | $ | 43,906 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (25,225 | ) |  |  | — |  |  |  | — |  |  |  | (25,225 | )
Acquisition related additions to property, plant and equipment |  |  | — |  |  |  | (1,746 | ) |  |  | — |  |  |  | — |  |  |  | (1,746 | )
Additions to property, plant and equipment |  |  | (203 | ) |  |  | (48,058 | ) |  |  | (5,020 | ) |  |  | — |  |  |  | (53,281 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (6,261 | ) |  |  | — |  |  |  | — |  |  |  | (6,261 | )
Payment for capital related to divestiture |  |  | — |  |  |  | (618 | ) |  |  | — |  |  |  | — |  |  |  | (618 | )
Payments related to investments |  |  | (4,166 | ) |  |  | (2,707 | ) |  |  | 3,666 |  |  |  | — |  |  |  | (3,207 | )
Proceeds from sale of property and equipment |  |  | — |  |  |  | 883 |  |  |  | — |  |  |  | — |  |  |  | 883 |
Net cash provided by (used in) investing activities |  |  | (4,369 | ) |  |  | (83,732 | ) |  |  | (1,354 | ) |  |  | — |  |  |  | (89,455 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | 334,497 |  |  |  | 41,849 |  |  |  | — |  |  |  | — |  |  |  | 376,346 |
Principal payments on long-term debt |  |  | (359,342 | ) |  |  | (1,516 | ) |  |  | — |  |  |  | — |  |  |  | (360,858 | )
Change in restricted cash |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
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 holders |  |  | — |  |  |  | — |  |  |  | 2,531 |  |  |  | — |  |  |  | 2,531 |
Other |  |  | (4,513 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,513 | )
Inter company borrowings |  |  | 5,066 |  |  |  | (5,066 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | 7,149 |  |  |  | 35,267 |  |  |  | 2,531 |  |  |  | — |  |  |  | 44,947 |
Discontinued Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) discontinued operations |  |  | — |  |  |  | (2,177 | ) |  |  | — |  |  |  | — |  |  |  | (2,177 | )
Net increase (decrease) in cash and cash equivalents |  |  | (2,539 | ) |  |  | (115 | ) |  |  | (125 | ) |  |  | — |  |  |  | (2,779 | )
Cash and cash equivalents, beginning of period |  |  | 3,799 |  |  |  | 368 |  |  |  | 367 |  |  |  | — |  |  |  | 4,534 |
Cash and cash equivalents, end of period |  | $ | 1,260 |  |  | $ | 253 |  |  | $ | 242 |  |  | $ | — |  |  | $ | 1,755 |
CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FISCAL YEAR ENDED APRIL 30, 2012 (in thousands)
|  | Parent |  |  | Guarantors |  |  | Non- Guarantors |  |  | Elimination |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | 4,552 |  |  | $ | 59,088 |  |  | $ | 531 |  |  | $ | — |  |  | $ | 64,171 |
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired |  |  | — |  |  |  | (2,102 | ) |  |  | — |  |  |  | — |  |  |  | (2,102 | )
Acquisition related additions to property, plant and equipment |  |  | — |  |  |  | (529 | ) |  |  | — |  |  |  | — |  |  |  | (529 | )
Additions to property, plant and equipment |  |  | (574 | ) |  |  | (54,681 | ) |  |  | (2,579 | ) |  |  | — |  |  |  | (57,834 | )
Payments on landfill operating lease contracts |  |  | — |  |  |  | (6,616 | ) |  |  | — |  |  |  | — |  |  |  | (6,616 | )
Payments related to investments |  |  | (2,740 | ) |  |  | (4,184 | ) |  |  | 1,879 |  |  |  | — |  |  |  | (5,045 | )
Proceeds from sale of property and equipment |  |  | — |  |  |  | 1,492 |  |  |  | — |  |  |  | — |  |  |  | 1,492 |
Net cash provided by (used in) investing activities |  |  | (3,314 | ) |  |  | (66,620 | ) |  |  | (700 | ) |  |  | — |  |  |  | (70,634 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term borrowings |  |  | 163,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 163,500 |
Principal payments on long-term debt |  |  | (151,390 | ) |  |  | (1,416 | ) |  |  | — |  |  |  | — |  |  |  | (152,806 | )
Payments of financing costs |  |  | (1,592 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,592 | )
Contributions from noncontrolling interest holders |  |  |  |  |  |  | — |  |  |  | 536 |  |  |  | — |  |  |  | 536 |
Other |  |  | 591 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 591 |
Inter company borrowings |  |  | (10,079 | ) |  |  | 10,079 |  |  |  | — |  |  |  | — |  |  |  | — |
Net cash provided by (used in) financing activities |  |  | 1,030 |  |  |  | 8,663 |  |  |  | 536 |  |  |  | — |  |  |  | 10,229 |
Net cash provided by (used in) discontinued operations |  |  | — |  |  |  | (1,049 | ) |  |  | — |  |  |  | — |  |  |  | (1,049 | )
Net increase (decrease) in cash and cash equivalents |  |  | 2,268 |  |  |  | 82 |  |  |  | 367 |  |  |  | — |  |  |  | 2,717 |
Cash and cash equivalents, beginning of period |  |  | 1,531 |  |  |  | 286 |  |  |  | — |  |  |  | — |  |  |  | 1,817 |
Cash and cash equivalents, end of period |  | $ | 3,799 |  |  | $ | 368 |  |  | $ | 367 |  |  | $ | — |  |  | $ | 4,534 |

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