Subsidiary Guarantors (Tables)

3 Months Ended

Mar. 31, 2016

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 MARCH 31, 2016

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,434		$	201		$	13		$	—		$	1,648
Accounts receivable - trade, net		388			52,646			—			—			53,034
Refundable income taxes		660			—			—			—			660
Prepaid expenses		3,960			5,461			—			—			9,421
Inventory		—			4,474			—			—			4,474
Other current assets		402			1,093			—			—			1,495

Total current assets		6,844			63,875			13			—			70,732

Property, plant and equipment, net		6,323			390,784			—			—			397,107
Goodwill		—			118,976			—			—			118,976
Intangible assets, net		—			8,728			—			—			8,728
Restricted assets		—			871			—			—			871
Cost method investments		12,333			1,932			—			(1,932	)		12,333
Investments in subsidiaries		9,989			—			—			(9,989	)		—
Other non-current assets		1,587			10,072			—			—			11,659

		30,232			531,363			—			(11,921	)		549,674

Intercompany receivable		490,611			(453,566	)		(38,977	)		1,932			—

	$	527,687		$	141,672		$	(38,964	)	$	(9,989	)	$	620,406


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
LIABILITIES AND STOCKHOLDERS’ DEFICIT
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	98		$	1,360		$	—		$	—		$	1,458
Accounts payable		15,468			23,342			(1	)		—			38,809
Accrued payroll and related expenses		1,629			3,950			—			—			5,579
Accrued interest		5,148			25			—			—			5,173
Current accrued capping, closure and post-closure costs		—			703			3			—			706
Other accrued liabilities		8,667			9,993			—			—			18,660

Total current liabilities		31,010			39,373			2			—			70,385

Long-term debt and capital leases, less current portion		510,302			2,918			—			—			513,220
Accrued capping, closure and post-closure costs,
less current portion		—			41,518			31			—			41,549
Deferred income taxes		5,695			—			—			—			5,695
Other long-term liabilities		9,175			8,898			—			—			18,073

STOCKHOLDERS’ DEFICIT:
Casella Waste Systems, Inc. stockholders’ deficit		(28,495	)		48,965			(38,976	)		(9,989	)		(28,495	)
Noncontrolling interests		—			—			(21	)		—			(21	)

Total stockholders’ deficit		(28,495	)		48,965			(38,997	)		(9,989	)		(28,516	)

	$	527,687		$	141,672		$	(38,964	)	$	(9,989	)	$	620,406

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

AS OF DECEMBER 31, 2015

(in thousands)


	Parent			Guarantors			Non- Guarantors			Elimination			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,939		$	252		$	121		$	—		$	2,312
Accounts receivable - trade, net		438			59,729			—			—			60,167
Refundable income taxes		651			—			—			—			651
Prepaid expenses		2,612			5,058			—			—			7,670
Inventory		—			4,282			—			—			4,282
Other current assets		520			1,066			—			—			1,586

Total current assets		6,160			70,387			121			—			76,668

Property, plant and equipment, net		6,220			396,032			—			—			402,252
Goodwill		—			118,976			—			—			118,976
Intangible assets, net		8			9,244			—			—			9,252
Restricted assets		1,348			903			—			—			2,251
Cost method investments		12,333			1,932			—			(1,932	)		12,333
Investments in subsidiaries		7,744			—			—			(7,744	)		—
Other non-current assets		1,587			10,350			—			—			11,937

		29,240			537,437			—			(9,676	)		557,001

Intercompany receivable		499,977			(462,932	)		(38,977	)		1,932			—


	$	535,377		$	144,892		$	(38,856	)	$	(7,744	)	$	633,669


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
CURRENT LIABILITIES:
Current maturities of long-term debt and capital leases	$	96		$	1,352		$	—		$	—		$	1,448
Accounts payable		16,203			28,504			214			—			44,921
Accrued payroll and related expenses		2,994			5,181			—			—			8,175
Accrued interest		12,292			13			—			—			12,305
Current accrued capping, closure and post-closure costs		—			729			3			—			732
Other accrued liabilities		7,693			10,072			—			—			17,765

Total current liabilities		39,278			45,851			217			—			85,346

Long-term debt and capital leases, less current portion		502,949			3,036			—			—			505,985
Accrued capping, closure and post-closure costs, less current portion		—			40,279			30			—			40,309
Deferred income taxes		5,595			—			—			—			5,595
Other long-term liabilities		9,078			8,953			—			—			18,031

STOCKHOLDERS’ DEFICIT:
Casella Waste Systems, Inc. stockholders’ deficit		(21,523	)		46,773			(39,029	)		(7,744	)		(21,523	)
Noncontrolling interests		—			—			(74	)		—			(74	)

Total stockholders’ deficit		(21,523	)		46,773			(39,103	)		(7,744	)		(21,597	)

	$	535,377		$	144,892		$	(38,856	)	$	(7,744	)	$	633,669

Schedule of Consolidating Statement of Operations

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2016

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated
Revenues	$	—		$	125,432		$	—		$	—		$	125,432
Operating expenses:
Cost of operations		9			90,398			11			—			90,418
General and administration		(169	)		18,755			1			—			18,587
Depreciation and amortization		276			14,177			—			—			14,453


		116			123,330			12			—			123,458

Operating income (loss)		(116	)		2,102			(12	)		—			1,974


Other expense (income):
Interest income		—			(104	)		—			—			(104	)
Interest expense		9,962			68			—			—			10,030
(Gain) loss on debt extinguishment		(48	)		—			—			—			(48	)
Earnings from consolidated entities		(2,258	)		—			—			2,258			—
Other income		(15	)		(126	)		—			—			(141	)

Other expense, net		7,641			(162	)		—			2,258			9,737


Loss before income taxes		(7,757	)		2,264			(12	)		(2,258	)		(7,763	)
(Benefit) provision for income taxes		(149	)		—			—			—			(149	)

Net loss		(7,608	)		2,264			(12	)		(2,258	)		(7,614	)

Less: Net (loss) income attributable to noncontrolling interests		—			—			(6	)		—			(6	)

Net loss attributable to common stockholders	$	(7,608	)	$	2,264		$	(6	)	$	(2,258	)	$	(7,608	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated

Revenues	$	—		$	116,453		$	124		$	—		$	116,577

Operating expenses:
Cost of operations		(83	)		87,679			237			—			87,833
General and administration		(117	)		16,938			(16	)		—			16,805
Depreciation and amortization		223			13,525			—			—			13,748
Divestiture transactions		—			(2,085	)		(2,850	)		—			(4,935	)


		23			116,057			(2,629	)		—			113,451

Operating income (loss)		(23	)		396			2,753			—			3,126


Other expense (income):
Interest income		(47	)		(94	)		—			—			(141	)
Interest expense		9,988			53			85			—			10,126
(Gain) loss on debt extinguishment		521			—			—			—			521
Loss on derivative instruments		151			—			—			—			151
Earnings from consolidated entities		(1,924	)		—			—			1,924			—
Other income		(37	)		(127	)		—			—			(164	)

Other expense, net		8,652			(168	)		85			1,924			10,493


Loss before income taxes		(8,675	)		564			2,668			(1,924	)		(7,367	)
(Benefit) provision for income taxes		596			—			—			—			596

Net loss		(9,271	)		564			2,668			(1,924	)		(7,963	)

Less: Net (loss) income attributable to noncontrolling interests		—			—			1,308			—			1,308

Net loss attributable to common stockholders	$	(9,271	)	$	564		$	1,360		$	(1,924	)	$	(9,271	)

Schedule of Consolidating Statement of Comprehensive Loss

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS

THREE MONTHS ENDED MARCH 31, 2016

(in thousands)


	Parent			Guarantors			Non - Guarantors			Elimination			Consolidated

Net loss	$	(7,608	)	$	2,264		$	(12	)	$	(2,258	)	$	(7,614	)
Other comprehensive loss, net of tax:
Unrealized loss resulting from changes in fair value of marketable securities		—			(83	)		—			—			(83	)


Other comprehensive loss, net of tax		—			(83	)		—			—			(83	)


Comprehensive loss		(7,608	)		2,181			(12	)		(2,258	)		(7,697	)

Less: Comprehensive loss attributable to noncontrolling interests		—			—			(6	)		—			(6	)


Comprehensive (loss) income attributable to common stockholders	$	(7,608	)	$	2,181		$	(6	)	$	(2,258	)	$	(7,691	)

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS

THREE MONTHS ENDED MARCH 31, 2015

(in thousands)


	Parent			Guarantors			Non - Guarantors		Elimination			Consolidated

Net loss	$	(9,271	)	$	564		$	2,668	$	(1,924	)	$	(7,963	)
Other comprehensive loss, net of tax:
Unrealized loss resulting from changes in fair value of marketable securities		—			(34	)		—		—			(34	)


Other comprehensive loss, net of tax		—			(34	)		—		—			(34	)


Comprehensive loss		(9,271	)		530			2,668		(1,924	)		(7,997	)

Less: Comprehensive (loss) income attributable to noncontrolling interests		—			—			1,308		—			1,308


Comprehensive loss attributable to common stockholders	$	(9,271	)	$	530		$	1,360	$	(1,924	)	$	(9,305	)

Schedule of Condensed Consolidating Statement of Cash Flows

CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2016

(in thousands)


	Parent			Guarantors			Non-Guarantors			Elimination		Consolidated

Net cash provided by (used in) operating activities	$	(6,711	)	$	8,543		$	(108	)	$	—	$	1,724

Cash Flows from Investing Activities:
Additions to property, plant and equipment		(371	)		(9,477	)		—			—		(9,848	)
Payments on landfill operating lease contracts		—			(500	)		—			—		(500	)
Proceeds from sale of property and equipment		—			359			—			—		359

Net cash used in investing activities		(371	)		(9,618	)		—			—		(9,989	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		64,300			—			—			—		64,300
Principal payments on long-term debt		(57,838	)		(110	)		—			—		(57,948	)
Payments of debt issuance costs		(99	)		—			—			—		(99	)
Change in restricted cash		1,348			—			—			—		1,348
Intercompany borrowings		(1,134	)		1,134			—			—		—

Net cash provided by financing activities		6,577			1,024			—			—		7,601
Net (decrease) increase in cash and cash equivalents		(505	)		(51	)		(108	)		—		(664	)
Cash and cash equivalents, beginning of period		1,939			252			121			—		2,312

Cash and cash equivalents, end of period	$	1,434		$	201		$	13		$	—	$	1,648

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2015

(in thousands)


	Parent			Guarantors			Non-Guarantors			Elimination		Consolidated

Net cash provided by (used in) operating activities	$	(10,886	)	$	5,604		$	(413	)	$	—	$	(5,695	)

Cash Flows from Investing Activities:
Additions to property, plant and equipment		(516	)		(3,928	)		—			—		(4,444	)
Payments on landfill operating lease contracts		—			(478	)		—			—		(478	)
Payments related to investments		—			1,555			(1,555	)		—		—
Proceeds from divestiture transactions		—			1,050			3,500			—		4,550
Proceeds from sale of property and equipment		—			89			—			—		89

Net cash used in investing activities		(516	)		(1,712	)		1,945			—		(283	)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings		197,573			18			—			—		197,591
Principal payments on long-term debt		(186,267	)		(233	)		—			—		(186,500	)
Payments of debt issuance costs		(6,852	)		—			—			—		(6,852	)
Change in restricted cash		4,086			—			—			—		4,086
Distributions to noncontrolling interest holder		—			—			(1,495	)		—		(1,495	)
Intercompany borrowings		3,707			(3,707	)		—			—		—

Net cash provided by financing activities		12,247			(3,922	)		(1,495	)		—		6,830
Net (decrease) increase in cash and cash equivalents		845			(30	)		37			—		852
Cash and cash equivalents, beginning of period		1,596			253			356			—		2,205

Cash and cash equivalents, end of period	$	2,441		$	223		$	393		$	—	$	3,057