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Guarantor Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2018
Guarantor Financial Information [Abstract] |
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidated Balance Sheet As of June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 971 |  | $ | 1,462 |  | $ | 101,687 |  | $ | — |  | $ | 104,120 |
Restricted cash | 103 |  | — |  | 39 |  | — |  | 142 |
Accounts receivable | 37,731 |  | 499,988 |  | 449,745 |  | (616,173 | ) | 371,291 |
Inventories | 15,775 |  | 85,471 |  | 269,309 |  | — |  | 370,555 |
Income taxes refundable | 2,856 |  | — |  | 4,121 |  | — |  | 6,977 |
Prepaid expenses | 13,170 |  | 2,813 |  | 27,982 |  | — |  | 43,965 |
Other current assets | 5,161 |  | (2,152 | ) | 18,139 |  | — |  | 21,148 |
Total current assets | 75,767 |  | 587,582 |  | 871,022 |  | (616,173 | ) | 918,198 |
Investment in subsidiaries | 4,792,217 |  | 1,366,126 |  | 844,044 |  | (7,002,387 | ) | — |
Property, plant and equipment, net | 314,090 |  | 497,077 |  | 813,187 |  | — |  | 1,624,354 |
Intangible assets, net | 31,131 |  | 216,133 |  | 363,614 |  | — |  | 610,878 |
Goodwill | 41,414 |  | 490,748 |  | 700,802 |  | — |  | 1,232,964 |
Investment in unconsolidated subsidiaries | 9,766 |  | — |  | 389,331 |  | — |  | 399,097 |
Other assets | 38,913 |  | 65,149 |  | 186,738 |  | (233,998 | ) | 56,802 |
Deferred taxes | — |  | — |  | 14,623 |  | — |  | 14,623 |
| $ | 5,303,298 |  | $ | 3,222,815 |  | $ | 4,183,361 |  | $ | (7,852,558 | ) | $ | 4,856,916 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 49 |  | $ | — |  | $ | 7,417 |  | $ | — |  | $ | 7,466 |
Accounts payable | 643,541 |  | 16,949 |  | 138,528 |  | (613,868 | ) | 185,150 |
Income taxes payable | 888 |  | — |  | 8,087 |  | — |  | 8,975 |
Accrued expenses | 89,917 |  | 26,875 |  | 166,653 |  | (2,306 | ) | 281,139 |
Total current liabilities | 734,395 |  | 43,824 |  | 320,685 |  | (616,174 | ) | 482,730 |
Long-term debt, net of current portion | 1,022,688 |  | — |  | 899,133 |  | (233,998 | ) | 1,687,823 |
Other noncurrent liabilities | 68,404 |  | — |  | 37,245 |  | — |  | 105,649 |
Deferred income taxes | 92,197 |  | — |  | 150,486 |  | — |  | 242,683 |
Total liabilities | 1,917,684 |  | 43,824 |  | 1,407,549 |  | (850,172 | ) | 2,518,885 |
Total stockholders’ equity | 3,385,614 |  | 3,178,991 |  | 2,775,812 |  | (7,002,386 | ) | 2,338,031 |
| $ | 5,303,298 |  | $ | 3,222,815 |  | $ | 4,183,361 |  | $ | (7,852,558 | ) | $ | 4,856,916 |
Condensed Consolidated Balance Sheet As of December 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 1,724 |  | $ | 2,993 |  | $ | 102,057 |  | $ | — |  | $ | 106,774 |
Restricted cash | 103 |  | — |  | 39 |  | — |  | 142 |
Accounts receivable | 37,453 |  | 465,653 |  | 436,874 |  | (548,133 | ) | 391,847 |
Inventories | 18,049 |  | 84,805 |  | 255,329 |  | — |  | 358,183 |
Income taxes refundable | 1,591 |  | — |  | 2,918 |  | — |  | 4,509 |
Prepaid expenses | 10,787 |  | 3,141 |  | 24,398 |  | — |  | 38,326 |
Other current assets | 7,117 |  | 923 |  | 48,624 |  | — |  | 56,664 |
Total current assets | 76,824 |  | 557,515 |  | 870,239 |  | (548,133 | ) | 956,445 |
Investment in subsidiaries | 4,734,618 |  | 1,167,246 |  | 844,044 |  | (6,745,908 | ) | — |
Property, plant and equipment, net | 278,121 |  | 501,842 |  | 865,859 |  | — |  | 1,645,822 |
Intangible assets, net | 17,034 |  | 258,970 |  | 400,496 |  | — |  | 676,500 |
Goodwill | 21,860 |  | 551,837 |  | 727,396 |  | — |  | 1,301,093 |
Investment in unconsolidated subsidiary | 4,341 |  | — |  | 297,697 |  | — |  | 302,038 |
Other assets | 42,078 |  | 314,166 |  | 193,923 |  | (487,883 | ) | 62,284 |
Deferred income taxes | — |  | — |  | 14,043 |  | — |  | 14,043 |
| $ | 5,174,876 |  | $ | 3,351,576 |  | $ | 4,213,697 |  | $ | (7,781,924 | ) | $ | 4,958,225 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 115 |  | $ | — |  | $ | 16,028 |  | $ | — |  | $ | 16,143 |
Accounts payable | 555,894 |  | 37,466 |  | 169,033 |  | (544,976 | ) | 217,417 |
Income taxes payable | 32 |  | 373 |  | 11,895 |  | — |  | 12,300 |
Accrued expenses | 105,625 |  | 30,542 |  | 180,613 |  | (3,157 | ) | 313,623 |
Total current liabilities | 661,666 |  | 68,381 |  | 377,569 |  | (548,133 | ) | 559,483 |
Long-term debt, net of current portion | 1,030,736 |  | — |  | 1,155,197 |  | (487,883 | ) | 1,698,050 |
Other noncurrent liabilities | 69,711 |  | — |  | 36,576 |  | — |  | 106,287 |
Deferred income taxes | 106,543 |  | — |  | 160,165 |  | — |  | 266,708 |
Total liabilities | 1,868,656 |  | 68,381 |  | 1,729,507 |  | (1,036,016 | ) | 2,630,528 |
Total stockholders’ equity | 3,306,220 |  | 3,283,195 |  | 2,484,190 |  | (6,745,908 | ) | 2,327,697 |
| $ | 5,174,876 |  | $ | 3,351,576 |  | $ | 4,213,697 |  | $ | (7,781,924 | ) | $ | 4,958,225 |
Guarantor Financial Information Condensed Consolidating Statements Of Operations | Condensed Consolidated Statements of Operations For the three months ended June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 135,196 |  | $ | 348,497 |  | $ | 423,466 |  | $ | (60,513 | ) | $ | 846,646 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 102,221 |  | 275,609 |  | 335,684 |  | (60,513 | ) | 653,001 |
Selling, general and administrative expenses | 36,393 |  | 12,425 |  | 29,740 |  | — |  | 78,558 |
Restructuring and impairment charges | — |  | — |  | 14,965 |  | — |  | 14,965 |
Depreciation and amortization | 11,577 |  | 25,942 |  | 40,935 |  | — |  | 78,454 |
Total costs and expenses | 150,191 |  | 313,976 |  | 421,324 |  | (60,513 | ) | 824,978 |
Operating income/(loss) | (14,995 | ) | 34,521 |  | 2,142 |  | — |  | 21,668 |
Interest expense | (14,193 | ) | 3,240 |  | (12,063 | ) | — |  | (23,016 | )
Debt extinguishment costs | (15,635 | ) | — |  | (7,874 | ) | — |  | (23,509 | )
Foreign currency losses | (414 | ) | (31 | ) | (3,050 | ) | — |  | (3,495 | )
Loss on sale of subsidiary | (15,538 | ) | — |  | — |  | — |  | (15,538 | )
Other income/(expense), net | (10,204 | ) | 1,810 |  | 9,593 |  | — |  | 1,199 |
Equity in net income/(loss) of unconsolidated subsidiaries | (577 | ) | — |  | 15,813 |  | — |  | 15,236 |
Earnings in investments in subsidiaries | 34,159 |  | — |  | — |  | (34,159 | ) | — |
Income/(loss) before taxes | (37,397 | ) | 39,540 |  | 4,561 |  | (34,159 | ) | (27,455 | )
Income taxes (benefit) | (6,977 | ) | 4,192 |  | 4,468 |  | — |  | 1,683 |
Net income attributable to noncontrolling interests | — |  | — |  | (1,282 | ) | — |  | (1,282 | )
Net income/(loss) attributable to Darling | $ | (30,420 | ) | $ | 35,348 |  | $ | (1,189 | ) | $ | (34,159 | ) | $ | (30,420 | )
Condensed Consolidated Statements of Operations For the six months ended June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 254,821 |  | $ | 693,100 |  | $ | 891,274 |  | $ | (117,175 | ) | $ | 1,722,020 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 198,089 |  | 546,846 |  | 703,340 |  | (117,175 | ) | 1,331,100 |
Selling, general and administrative expenses | 80,171 |  | 25,262 |  | 60,027 |  | — |  | 165,460 |
Restructuring and impairment charges | — |  | — |  | 14,965 |  | — |  | 14,965 |
Depreciation and amortization | 22,636 |  | 52,233 |  | 82,204 |  | — |  | 157,073 |
Total costs and expenses | 300,896 |  | 624,341 |  | 860,536 |  | (117,175 | ) | 1,668,598 |
Operating income/(loss) | (46,075 | ) | 68,759 |  | 30,738 |  | — |  | 53,422 |
Interest expense | (28,557 | ) | 7,003 |  | (24,586 | ) | — |  | (46,140 | )
Debt extinguishment costs | (15,635 | ) | — |  | (7,874 | ) | — |  | (23,509 | )
Foreign currency losses | (437 | ) | (94 | ) | (4,445 | ) | — |  | (4,976 | )
Loss on sale of subsidiary | (15,538 | ) | — |  | — |  | — |  | (15,538 | )
Other income/(expense), net | (13,614 | ) | 484 |  | 11,813 |  | — |  | (1,317 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (1,075 | ) | — |  | 113,465 |  | — |  | 112,390 |
Earnings in investments in subsidiaries | 179,039 |  | — |  | — |  | (179,039 | ) | — |
Income/(loss) before taxes | 58,108 |  | 76,152 |  | 119,111 |  | (179,039 | ) | 74,332 |
Income taxes (benefit) | (8,777 | ) | 5,527 |  | 8,645 |  | — |  | 5,395 |
Net income attributable to noncontrolling interests | — |  | — |  | (2,052 | ) | — |  | (2,052 | )
Net income/(loss) attributable to Darling | $ | 66,885 |  | $ | 70,625 |  | $ | 108,414 |  | $ | (179,039 | ) | $ | 66,885 |
Condensed Consolidated Statements of Operations For the three months ended July 1, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 135,896 |  | $ | 359,840 |  | $ | 458,203 |  | $ | (59,009 | ) | $ | 894,930 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 107,977 |  | 290,511 |  | 359,765 |  | (59,009 | ) | 699,244 |
Selling, general and administrative expenses | 35,105 |  | 13,351 |  | 36,076 |  | — |  | 84,532 |
Depreciation and amortization | 9,980 |  | 25,876 |  | 37,134 |  | — |  | 72,990 |
Total costs and expenses | 153,062 |  | 329,738 |  | 432,975 |  | (59,009 | ) | 856,766 |
Operating income/(loss) | (17,166 | ) | 30,102 |  | 25,228 |  | — |  | 38,164 |
Interest expense | (14,247 | ) | 3,968 |  | (12,167 | ) | — |  | (22,446 | )
Foreign currency gains/(losses) | (178 | ) | 205 |  | (2,138 | ) | — |  | (2,111 | )
Other income/(expense), net | (4,283 | ) | (1,590 | ) | 2,076 |  | — |  | (3,797 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (393 | ) | — |  | 8,653 |  | — |  | 8,260 |
Earnings in investments in subsidiaries | 26,513 |  | — |  | — |  | (26,513 | ) | — |
Income/(loss) before taxes | (9,754 | ) | 32,685 |  | 21,652 |  | (26,513 | ) | 18,070 |
Income taxes | (18,903 | ) | 16,325 |  | 10,320 |  | — |  | 7,742 |
Net income attributable to noncontrolling interests | — |  | — |  | (1,179 | ) | — |  | (1,179 | )
Net income/(loss) attributable to Darling | $ | 9,149 |  | $ | 16,360 |  | $ | 10,153 |  | $ | (26,513 | ) | $ | 9,149 |
Condensed Consolidated Statements of Operations For the six months ended July 1, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 272,053 |  | $ | 720,024 |  | $ | 897,991 |  | $ | (116,628 | ) | $ | 1,773,440 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 217,640 |  | 583,282 |  | 702,916 |  | (116,628 | ) | 1,387,210 |
Selling, general and administrative expenses | 74,074 |  | 27,528 |  | 69,853 |  | — |  | 171,455 |
Depreciation and amortization | 20,265 |  | 51,312 |  | 72,527 |  | — |  | 144,104 |
Total costs and expenses | 311,979 |  | 662,122 |  | 845,296 |  | (116,628 | ) | 1,702,769 |
Operating income/(loss) | (39,926 | ) | 57,902 |  | 52,695 |  | — |  | 70,671 |
Interest expense | (27,833 | ) | 7,991 |  | (24,284 | ) | — |  | (44,126 | )
Foreign currency gains/(losses) | (184 | ) | 180 |  | (2,371 | ) | — |  | (2,375 | )
Other income/(expense), net | (8,031 | ) | (1,558 | ) | 3,739 |  | — |  | (5,850 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (766 | ) | — |  | 9,732 |  | — |  | 8,966 |
Earnings in investments in subsidiaries | 64,831 |  | — |  | — |  | (64,831 | ) | — |
Income/(loss) before taxes | (11,909 | ) | 64,515 |  | 39,511 |  | (64,831 | ) | 27,286 |
Income taxes (benefit) | (26,887 | ) | 22,604 |  | 13,843 |  | — |  | 9,560 |
Net income attributable to noncontrolling interests | — |  | — |  | (2,748 | ) | — |  | (2,748 | )
Net income/(loss) attributable to Darling | $ | 14,978 |  | $ | 41,911 |  | $ | 22,920 |  | $ | (64,831 | ) | $ | 14,978 |
Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income/(Loss) | Condensed Consolidated Statements of Comprehensive Income/(Loss) For the three months ended June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | (29,138 | ) | $ | 35,348 |  | $ | (1,189 | ) | $ | (34,159 | ) | $ | (29,138 | )
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | 1,116 |  | (53,387 | ) | (24,566 | ) | — |  | (76,837 | )
Pension adjustments | 565 |  | — |  | 101 |  | — |  | 666 |
Natural gas swap derivative adjustments | — |  | — |  | — |  | — |  | — |
Corn option derivative adjustments | 447 |  | — |  | — |  | — |  | 447 |
Total other comprehensive income/(loss), net of tax | 2,128 |  | (53,387 | ) | (24,465 | ) | — |  | (75,724 | )
Total comprehensive income/(loss) | (27,010 | ) | (18,039 | ) | (25,654 | ) | (34,159 | ) | (104,862 | )
Total comprehensive loss attributable to noncontrolling interest | — |  | — |  | 1,232 |  | — |  | 1,232 |
Total comprehensive income/(loss) attributable to Darling | $ | (27,010 | ) | $ | (18,039 | ) | $ | (26,886 | ) | $ | (34,159 | ) | $ | (106,094 | )
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the six months ended June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 68,937 |  | $ | 70,625 |  | $ | 108,414 |  | $ | (179,039 | ) | $ | 68,937 |
Other comprehensive income/ (loss), net of tax: |  |  |  |  |
Foreign currency translation | 1,116 |  | (53,387 | ) | (7,271 | ) | — |  | (59,542 | )
Pension adjustments | 1,131 |  | — |  | 202 |  | — |  | 1,333 |
Natural gas swap derivative adjustments | 22 |  | — |  | — |  | — |  | 22 |
Corn option derivative adjustments | (1,158 | ) | — |  | — |  | — |  | (1,158 | )
Total other comprehensive income/(loss), net of tax | 1,111 |  | (53,387 | ) | (7,069 | ) | — |  | (59,345 | )
Total comprehensive income/(loss) | 70,048 |  | 17,238 |  | 101,345 |  | (179,039 | ) | 9,592 |
Total comprehensive loss attributable to noncontrolling interest | — |  | — |  | 2,519 |  | — |  | 2,519 |
Total comprehensive income/(loss) attributable to Darling | $ | 70,048 |  | $ | 17,238 |  | $ | 98,826 |  | $ | (179,039 | ) | $ | 7,073 |
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the three months ended July 1, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 10,328 |  | $ | 16,360 |  | $ | 10,153 |  | $ | (26,513 | ) | $ | 10,328 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 49,112 |  | — |  | 49,112 |
Pension adjustments | 641 |  | — |  | 119 |  | — |  | 760 |
Corn option derivative adjustments | (869 | ) | — |  | — |  | — |  | (869 | )
Total other comprehensive income/(loss), net of tax | (228 | ) | — |  | 49,231 |  | — |  | 49,003 |
Total comprehensive income/(loss) | 10,100 |  | 16,360 |  | 59,384 |  | (26,513 | ) | 59,331 |
Total comprehensive income attributable to noncontrolling interest | — |  | — |  | (1,418 | ) | — |  | (1,418 | )
Total comprehensive income/(loss) attributable to Darling | $ | 10,100 |  | $ | 16,360 |  | $ | 60,802 |  | $ | (26,513 | ) | $ | 60,749 |
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the six months ended July 1, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 17,726 |  | $ | 41,911 |  | $ | 22,920 |  | $ | (64,831 | ) | $ | 17,726 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 64,791 |  | — |  | 64,791 |
Pension adjustments | 1,282 |  | — |  | 237 |  | — |  | 1,519 |
Corn option derivative adjustments | (1,971 | ) | — |  | — |  | — |  | (1,971 | )
Total other comprehensive income, net of tax | (689 | ) | — |  | 65,028 |  | — |  | 64,339 |
Total comprehensive income/(loss) | 17,037 |  | 41,911 |  | 87,948 |  | (64,831 | ) | 82,065 |
Total comprehensive income attributable to noncontrolling interest | — |  | — |  | (171 | ) | — |  | (171 | )
Total comprehensive income/(loss) attributable to Darling | $ | 17,037 |  | $ | 41,911 |  | $ | 88,119 |  | $ | (64,831 | ) | $ | 82,236 |
Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows | Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 68,937 |  | $ | 70,625 |  | $ | 108,414 |  | $ | (179,039 | ) | $ | 68,937 |
Earnings in investments in subsidiaries | (179,039 | ) | — |  | — |  | 179,039 |  | — |
Other operating cash flows | 143,415 |  | (30,510 | ) | (53,795 | ) | — |  | 59,110 |
Net cash provided by operating activities | 33,313 |  | 40,115 |  | 54,619 |  | — |  | 128,047 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (45,028 | ) | (45,759 | ) | (48,343 | ) | — |  | (139,130 | )
Acquisitions | (51,089 | ) | — |  | — |  | — |  | (51,089 | )
Investment in subsidiaries and affiliates | (6,500 | ) | (198,880 | ) | — |  | 198,880 |  | (6,500 | )
Proceeds from sale of investment in subsidiary | 80,000 |  | — |  | 2,805 |  | — |  | 82,805 |
Note receivable from affiliates | — |  | 201,880 |  | (201,880 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 873 |  | 610 |  | 761 |  | — |  | 2,244 |
Proceeds from insurance settlements | 750 |  | 503 |  | — |  | — |  | 1,253 |
Payments related to routes and other intangibles | (246 | ) | — |  | (48 | ) | — |  | (294 | )
Net cash used in investing activities | (21,240 | ) | (41,646 | ) | (246,705 | ) | 198,880 |  | (110,711 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 623,695 |  | — |  | 623,695 |
Payments on long-term debt | (10,066 | ) | — |  | (640,910 | ) | — |  | (650,976 | )
Borrowings from revolving facilities | 131,000 |  | — |  | 116,975 |  | — |  | 247,975 |
Payments on revolving facilities | (131,000 | ) | — |  | (90,632 | ) | — |  | (221,632 | )
Net cash overdraft financing | — |  | — |  | 4,517 |  | — |  | 4,517 |
Deferred loan costs | (824 | ) | — |  | (8,500 | ) | — |  | (9,324 | )
Issuances of common stock | 182 |  | — |  | — |  | — |  | 182 |
Contributions from parent | — |  | — |  | 198,880 |  | (198,880 | ) | — |
Minimum withholding taxes paid on stock awards | (2,118 | ) | — |  | (5 | ) | — |  | (2,123 | )
Distributions to noncontrolling interests | — |  | — |  | (983 | ) | — |  | (983 | )
Net cash used in financing activities | (12,826 | ) | — |  | 203,037 |  | (198,880 | ) | (8,669 | )
Effect of exchange rate changes on cash | — |  | — |  | (11,321 | ) | — |  | (11,321 | )
Net increase/(decrease) in cash, cash equivalents and restricted cash | (753 | ) | (1,531 | ) | (370 | ) | — |  | (2,654 | )
Cash, cash equivalents and restricted cash at beginning of period | 1,827 |  | 2,993 |  | 102,096 |  | — |  | 106,916 |
Cash, cash equivalents and restricted cash at end of period | $ | 1,074 |  | $ | 1,462 |  | $ | 101,726 |  | $ | — |  | $ | 104,262 |
Condensed Consolidated Statements of Cash Flows For the six months ended July 1, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 17,726 |  | $ | 41,911 |  | $ | 22,920 |  | $ | (64,831 | ) | $ | 17,726 |
Earnings in investments in subsidiaries | (64,831 | ) | — |  | — |  | 64,831 |  | — |
Other operating cash flows | 135,192 |  | (36,021 | ) | 80,640 |  | — |  | 179,811 |
Net cash provided by operating activities | 88,087 |  | 5,890 |  | 103,560 |  | — |  | 197,537 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (41,907 | ) | (38,269 | ) | (47,648 | ) | — |  | (127,824 | )
Acquisitions | — |  | (12,369 | ) | — |  | — |  | (12,369 | )
Investment in subsidiaries and affiliates | (2,250 | ) | — |  | — |  | — |  | (2,250 | )
Note receivable from affiliates | — |  | 39,733 |  | (39,733 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 1,704 |  | 978 |  | 921 |  | — |  | 3,603 |
Proceeds from insurance settlements | — |  | — |  | 3,301 |  | — |  | 3,301 |
Payments related to routes and other intangibles | (4,635 | ) | — |  | — |  | — |  | (4,635 | )
Net cash used in investing activities | (47,088 | ) | (9,927 | ) | (83,159 | ) | — |  | (140,174 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 16,405 |  | — |  | 16,405 |
Payments on long-term debt | (43,063 | ) | — |  | (24,911 | ) | — |  | (67,974 | )
Borrowings from revolving credit facility | 80,000 |  | — |  | — |  | — |  | 80,000 |
Payments on revolving credit facility | (75,000 | ) | — |  | (5,327 | ) | — |  | (80,327 | )
Net cash overdraft financing | — |  | — |  | (1,077 | ) | — |  | (1,077 | )
Deferred loan costs | (1,177 | ) | — |  | — |  | — |  | (1,177 | )
Issuances of common stock | 22 |  | — |  | — |  | — |  | 22 |
Minimum withholding taxes paid on stock awards | (2,077 | ) | — |  | (14 | ) | — |  | (2,091 | )
Distributions to noncontrolling interests | — |  | — |  | (2,135 | ) | — |  | (2,135 | )
Net cash used in financing activities | (41,295 | ) | — |  | (17,059 | ) | — |  | (58,354 | )
Effect of exchange rate changes on cash | — |  | — |  | 11,233 |  | — |  | 11,233 |
Net increase/(decrease) in cash, cash equivalents and restricted cash | (296 | ) | (4,037 | ) | 14,575 |  | — |  | 10,242 |
Cash, cash equivalents and restricted cash at beginning of period | 1,573 |  | 5,754 |  | 107,530 |  | — |  | 114,857 |
Cash, cash equivalents and restricted cash at end of period | $ | 1,277 |  | $ | 1,717 |  | $ | 122,105 |  | $ | — |  | $ | 125,099 |

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