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Guarantor Financial Information (Tables) | 3 Months Ended
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Apr. 02, 2016
Guarantor Financial Information [Abstract] |
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of April 2, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 1,233 |  | $ | 2,080 |  | $ | 144,013 |  | $ | — |  | $ | 147,326 |
Restricted cash | 102 |  | — |  | 219 |  | — |  | 321 |
Accounts receivable | 179,220 |  | 87,270 |  | 313,465 |  | (203,609 | ) | 376,346 |
Inventories | 14,031 |  | 97,869 |  | 260,716 |  | — |  | 372,616 |
Income taxes refundable | 8,930 |  | — |  | 2,895 |  | — |  | 11,825 |
Prepaid expenses | 14,072 |  | 2,441 |  | 23,766 |  | — |  | 40,279 |
Other current assets | 3,304 |  | 6,579 |  | 21,729 |  | (20,042 | ) | 11,570 |
Total current assets | 220,892 |  | 196,239 |  | 766,803 |  | (223,651 | ) | 960,283 |
Investment in subsidiaries | 4,101,825 |  | 1,141,644 |  | 837,604 |  | (6,081,073 | ) | — |
Property, plant and equipment, net | 218,516 |  | 479,645 |  | 837,360 |  | — |  | 1,535,521 |
Intangible assets, net | 16,772 |  | 317,561 |  | 457,833 |  | — |  | 792,166 |
Goodwill | 21,860 |  | 549,690 |  | 697,746 |  | — |  | 1,269,296 |
Investment in unconsolidated subsidiaries | 2,577 |  | — |  | 254,027 |  | — |  | 256,604 |
Other assets | 34,242 |  | 499,305 |  | 331,596 |  | (824,559 | ) | 40,584 |
Deferred taxes | — |  | — |  | 17,362 |  | — |  | 17,362 |
| $ | 4,616,684 |  | $ | 3,184,084 |  | $ | 4,200,331 |  | $ | (7,129,283 | ) | $ | 4,871,816 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 20,309 |  | $ | — |  | $ | 46,324 |  | $ | (20,042 | ) | $ | 46,591 |
Accounts payable | 37,233 |  | 204,116 |  | 122,189 |  | (192,643 | ) | 170,895 |
Income taxes payable | (383 | ) | 373 |  | 7,042 |  | — |  | 7,032 |
Accrued expenses | 64,955 |  | 25,350 |  | 148,000 |  | (10,967 | ) | 227,338 |
Total current liabilities | 122,114 |  | 229,839 |  | 323,555 |  | (223,652 | ) | 451,856 |
Long-term debt, net of current portion | 1,241,509 |  | 5,963 |  | 1,501,480 |  | (824,559 | ) | 1,924,393 |
Other noncurrent liabilities | 57,358 |  | — |  | 38,758 |  | — |  | 96,116 |
Deferred income taxes | 146,385 |  | — |  | 222,255 |  | — |  | 368,640 |
Total liabilities | 1,567,366 |  | 235,802 |  | 2,086,048 |  | (1,048,211 | ) | 2,841,005 |
Total stockholders’ equity | 3,049,318 |  | 2,948,282 |  | 2,114,283 |  | (6,081,072 | ) | 2,030,811 |
| $ | 4,616,684 |  | $ | 3,184,084 |  | $ | 4,200,331 |  | $ | (7,129,283 | ) | $ | 4,871,816 |
Condensed Consolidating Balance Sheet As of January 2, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 3,443 |  | $ | 3,993 |  | $ | 149,448 |  | $ | — |  | $ | 156,884 |
Restricted cash | 102 |  | — |  | 229 |  | — |  | 331 |
Accounts receivable | 184,472 |  | 81,644 |  | 310,932 |  | (205,656 | ) | 371,392 |
Inventories | 13,564 |  | 89,078 |  | 241,941 |  | — |  | 344,583 |
Income taxes refundable | 7,695 |  | — |  | 4,268 |  | — |  | 11,963 |
Prepaid expenses | 13,322 |  | 2,262 |  | 20,591 |  | — |  | 36,175 |
Other current assets | 5,273 |  | 24 |  | 22,852 |  | (17,689 | ) | 10,460 |
Total current assets | 227,871 |  | 177,001 |  | 750,261 |  | (223,345 | ) | 931,788 |
Investment in subsidiaries | 4,072,855 |  | 1,141,644 |  | 837,604 |  | (6,052,103 | ) | — |
Property, plant and equipment, net | 224,208 |  | 477,446 |  | 806,513 |  | — |  | 1,508,167 |
Intangible assets, net | 17,794 |  | 326,231 |  | 438,324 |  | — |  | 782,349 |
Goodwill | 21,860 |  | 549,690 |  | 661,552 |  | — |  | 1,233,102 |
Investment in unconsolidated subsidiary | — |  | — |  | 247,238 |  | — |  | 247,238 |
Other assets | 36,488 |  | 499,764 |  | 314,893 |  | (809,522 | ) | 41,623 |
Deferred income taxes | — |  | — |  | 16,352 |  | — |  | 16,352 |
| $ | 4,601,076 |  | $ | 3,171,776 |  | $ | 4,072,737 |  | $ | (7,084,970 | ) | $ | 4,760,619 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 20,328 |  | $ | — |  | $ | 42,527 |  | $ | (17,689 | ) | $ | 45,166 |
Accounts payable | 6,981 |  | 210,926 |  | 122,136 |  | (190,045 | ) | 149,998 |
Income taxes payable | (383 | ) | 373 |  | 6,689 |  | — |  | 6,679 |
Accrued expenses | 82,854 |  | 29,037 |  | 143,547 |  | (15,613 | ) | 239,825 |
Total current liabilities | 109,780 |  | 240,336 |  | 314,899 |  | (223,347 | ) | 441,668 |
Long-term debt, net of current portion | 1,234,002 |  | — |  | 1,461,371 |  | (809,522 | ) | 1,885,851 |
Other noncurrent liabilities | 57,578 |  | 1,999 |  | 38,232 |  | — |  | 97,809 |
Deferred income taxes | 147,416 |  | — |  | 213,265 |  | — |  | 360,681 |
Total liabilities | 1,548,776 |  | 242,335 |  | 2,027,767 |  | (1,032,869 | ) | 2,786,009 |
Total stockholders’ equity | 3,052,300 |  | 2,929,441 |  | 2,044,970 |  | (6,052,101 | ) | 1,974,610 |
| $ | 4,601,076 |  | $ | 3,171,776 |  | $ | 4,072,737 |  | $ | (7,084,970 | ) | $ | 4,760,619 |
Guarantor Financial Information Condensed Consolidating Statements Of Operations | Condensed Consolidating Statements of Operations For the three months ended April 2, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 108,371 |  | $ | 303,765 |  | $ | 411,037 |  | $ | (43,532 | ) | $ | 779,641 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 89,483 |  | 236,336 |  | 316,606 |  | (43,532 | ) | 598,893 |
Selling, general and administrative expenses | 35,893 |  | 13,136 |  | 32,440 |  | — |  | 81,469 |
Acquisition and integration costs | — |  | — |  | 331 |  | — |  | 331 |
Depreciation and amortization | 11,425 |  | 26,808 |  | 34,023 |  | — |  | 72,256 |
Total costs and expenses | 136,801 |  | 276,280 |  | 383,400 |  | (43,532 | ) | 752,949 |
Operating income/(loss) | (28,430 | ) | 27,485 |  | 27,637 |  | — |  | 26,692 |
Interest expense | (15,522 | ) | 4,377 |  | (12,756 | ) | — |  | (23,901 | )
Foreign currency gains/(losses) | (31 | ) | 165 |  | (2,737 | ) | — |  | (2,603 | )
Other expense, net | (3,325 | ) | (5 | ) | 2,025 |  | — |  | (1,305 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (97 | ) | — |  | 5,740 |  | — |  | 5,643 |
Earnings in investments in subsidiaries | 28,971 |  | — |  | — |  | (28,971 | ) | — |
Income/(loss) before taxes | (18,434 | ) | 32,022 |  | 19,909 |  | (28,971 | ) | 4,526 |
Income taxes (benefit) | (19,513 | ) | 13,181 |  | 8,195 |  | — |  | 1,863 |
Net income attributable to noncontrolling interests | — |  | — |  | (1,584 | ) | — |  | (1,584 | )
Net income/(loss) attributable to Darling | $ | 1,079 |  | $ | 18,841 |  | $ | 10,130 |  | $ | (28,971 | ) | $ | 1,079 |
Condensed Consolidating Statements of Operations For the three months ended April 4, 2015 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 125,794 |  | $ | 358,707 |  | $ | 448,843 |  | $ | (58,650 | ) | $ | 874,694 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 103,616 |  | 284,503 |  | 355,052 |  | (58,650 | ) | 684,521 |
Selling, general and administrative expenses | 33,130 |  | 14,868 |  | 38,633 |  | — |  | 86,631 |
Acquisition and integration costs | 1,973 |  | — |  | 3,346 |  | — |  | 5,319 |
Depreciation and amortization | 8,171 |  | 23,599 |  | 34,628 |  | — |  | 66,398 |
Total costs and expenses | 146,890 |  | 322,970 |  | 431,659 |  | (58,650 | ) | 842,869 |
Operating income/(loss) | (21,096 | ) | 35,737 |  | 17,184 |  | — |  | 31,825 |
Interest expense | (15,160 | ) | 4,848 |  | (12,797 | ) | — |  | (23,109 | )
Foreign currency gains/(losses) | (11 | ) | (304 | ) | (2,145 | ) | — |  | (2,460 | )
Other expense, net | (1,181 | ) | 211 |  | 461 |  | — |  | (509 | )
Equity in net loss of unconsolidated subsidiaries | — |  | — |  | (1,808 | ) | — |  | (1,808 | )
Earnings in investments in subsidiaries | 17,449 |  | — |  | — |  | (17,449 | ) | — |
Income/(loss) before taxes | (19,999 | ) | 40,492 |  | 895 |  | (17,449 | ) | 3,939 |
Income taxes (benefit) | (20,108 | ) | 21,742 |  | 481 |  | — |  | 2,115 |
Net income attributable to noncontrolling interests | — |  | — |  | (1,715 | ) | — |  | (1,715 | )
Net income/(loss) attributable to Darling | $ | 109 |  | $ | 18,750 |  | $ | (1,301 | ) | $ | (17,449 | ) | $ | 109 |
Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income (Loss) | Condensed Consolidating Statements of Comprehensive Income/(Loss) For the three months ended April 2, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 2,663 |  | $ | 18,841 |  | $ | 10,130 |  | $ | (28,971 | ) | $ | 2,663 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 57,531 |  | — |  | 57,531 |
Pension adjustments | 658 |  | — |  | 68 |  | — |  | 726 |
Corn option derivative adjustments | (706 | ) | — |  | — |  | — |  | (706 | )
Total other comprehensive income/(loss), net of tax | (48 | ) | — |  | 57,599 |  | — |  | 57,551 |
Total comprehensive income/(loss) | 2,615 |  | 18,841 |  | 67,729 |  | (28,971 | ) | 60,214 |
Total comprehensive loss attributable to noncontrolling interest | — |  | — |  | (420 | ) | — |  | (420 | )
Total comprehensive income/(loss) attributable to Darling | $ | 2,615 |  | $ | 18,841 |  | $ | 68,149 |  | $ | (28,971 | ) | $ | 60,634 |
Condensed Consolidating Statements of Comprehensive Income/(Loss) For the three months ended April 4, 2015 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 1,824 |  | $ | 18,750 |  | $ | (1,301 | ) | $ | (17,449 | ) | $ | 1,824 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | (93,315 | ) | — |  | (93,315 | )
Pension adjustments | 729 |  | — |  | 40 |  | — |  | 769 |
Corn option derivative adjustments | 38 |  | — |  | — |  | — |  | 38 |
Total other comprehensive income/(loss), net of tax | 767 |  | — |  | (93,275 | ) | — |  | (92,508 | )
Total comprehensive income/(loss) | 2,591 |  | 18,750 |  | (94,576 | ) | (17,449 | ) | (90,684 | )
Total comprehensive income attributable to noncontrolling interest | — |  | — |  | 7,042 |  | — |  | 7,042 |
Total comprehensive income/(loss) attributable to Darling | $ | 2,591 |  | $ | 18,750 |  | $ | (101,618 | ) | $ | (17,449 | ) | $ | (97,726 | )
Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows | Condensed Consolidating Statements of Cash Flows For the three months ended April 2, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 2,663 |  | $ | 18,841 |  | $ | 10,130 |  | $ | (28,971 | ) | $ | 2,663 |
Earnings in investments in subsidiaries | (28,971 | ) | — |  | — |  | 28,971 |  | — |
Other operating cash flows | 34,573 |  | (4,953 | ) | 12,760 |  | — |  | 42,380 |
Net cash provided by operating activities | 8,265 |  | 13,888 |  | 22,890 |  | — |  | 45,043 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (11,065 | ) | (21,764 | ) | (20,546 | ) | — |  | (53,375 | )
Acquisitions | — |  | — |  | (8,511 | ) | — |  | (8,511 | )
Note receivable from affiliates | — |  | — |  | (5,963 | ) | 5,963 |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 945 |  | — |  | 479 |  | — |  | 1,424 |
Proceeds from insurance settlements | — |  | — |  | 1,181 |  | — |  | 1,181 |
Payments related to routes and other intangibles | — |  | — |  | — |  | — |  | — |
Net cash used in investing activities | (10,120 | ) | (21,764 | ) | (33,360 | ) | 5,963 |  | (59,281 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 8,760 |  | — |  | 8,760 |
Payments on long-term debt | (5,291 | ) | — |  | (10,916 | ) | — |  | (16,207 | )
Borrowings from revolving facilities | 33,000 |  | — |  | — |  | — |  | 33,000 |
Payments on revolving facilities | (21,000 | ) | — |  | — |  | — |  | (21,000 | )
Borrowings from affiliates | — |  | 5,963 |  | — |  | (5,963 | ) | — |
Issuances of common stock | 45 |  | — |  | — |  | — |  | 45 |
Repurchase of treasury stock | (5,000 | ) | — |  | — |  | — |  | (5,000 | )
Contributions from parent | — |  | — |  | — |  | — |  | — |
Minimum withholding taxes paid on stock awards | (1,663 | ) | — |  | (125 | ) | — |  | (1,788 | )
Excess tax benefits from stock-based compensation | (446 | ) | — |  | — |  | — |  | (446 | )
Net cash used in financing activities | (355 | ) | 5,963 |  | (2,281 | ) | (5,963 | ) | (2,636 | )
Effect of exchange rate changes on cash | — |  | — |  | 7,316 |  | — |  | 7,316 |
Net decrease in cash and cash equivalents | (2,210 | ) | (1,913 | ) | (5,435 | ) | — |  | (9,558 | )
Cash and cash equivalents at beginning of year | 3,443 |  | 3,993 |  | 149,448 |  | — |  | 156,884 |
Cash and cash equivalents at end of year | $ | 1,233 |  | $ | 2,080 |  | $ | 144,013 |  | $ | — |  | $ | 147,326 |
Condensed Consolidating Statements of Cash Flows For the three months ended April 4, 2015 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 1,824 |  | $ | 18,750 |  | $ | (1,301 | ) | $ | (17,449 | ) | $ | 1,824 |
Earnings in investments in subsidiaries | (17,449 | ) | — |  | — |  | 17,449 |  | — |
Other operating cash flows | 48,023 |  | (30,966 | ) | 40,359 |  | — |  | 57,416 |
Net cash provided by operating activities | 32,398 |  | (12,216 | ) | 39,058 |  | — |  | 59,240 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (12,243 | ) | (19,393 | ) | (19,202 | ) | — |  | (50,838 | )
Investment in subsidiaries and affiliates | (20 | ) | (29,541 | ) | 29,541 |  | 20 |  | — |
Note receivable from affiliates | — |  | 51,019 |  | (51,019 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 142 |  | 259 |  | 133 |  | — |  | 534 |
Proceeds from insurance settlements | 71 |  | 270 |  | — |  | — |  | 341 |
Payments related to routes and other intangibles | — |  | — |  | (753 | ) | — |  | (753 | )
Net cash used in investing activities | (12,050 | ) | 2,614 |  | (41,300 | ) | 20 |  | (50,716 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 5,943 |  | — |  | 5,943 |
Payments on long-term debt | (4,000 | ) | (20 | ) | (9,582 | ) | — |  | (13,602 | )
Borrowings from revolving credit facility | 5,000 |  | — |  | 22,428 |  | — |  | 27,428 |
Payments on revolving credit facility | (25,000 | ) | — |  | (12,943 | ) | — |  | (37,943 | )
Net cash overdraft financing | — |  | — |  | 31,162 |  | — |  | 31,162 |
Issuances of common stock | 81 |  | — |  | — |  | — |  | 81 |
Contributions from parent | — |  | — |  | 20 |  | (20 | ) | — |
Minimum withholding taxes paid on stock awards | (4,469 | ) | — |  | — |  | — |  | (4,469 | )
Excess tax benefits from stock-based compensation | (35 | ) | — |  | — |  | — |  | (35 | )
Distributions to noncontolling interests | — |  | — |  | (38 | ) | — |  | (38 | )
Net cash used in financing activities | (28,423 | ) | (20 | ) | 36,990 |  | (20 | ) | 8,527 |
Effect of exchange rate changes on cash | — |  | — |  | (13,704 | ) | — |  | (13,704 | )
Net increase/(decrease) in cash and cash equivalents | (8,075 | ) | (9,622 | ) | 21,044 |  | — |  | 3,347 |
Cash and cash equivalents at beginning of year | 10,447 |  | 14,460 |  | 83,877 |  | — |  | 108,784 |
Cash and cash equivalents at end of year | $ | 2,372 |  | $ | 4,838 |  | $ | 104,921 |  | $ | — |  | $ | 112,131 |

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