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Guarantor Financial Information (Tables) | 9 Months Ended
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Sep. 29, 2018
Guarantor Financial Information [Abstract] |
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidated Balance Sheet As of September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 1,029 |  | $ | 36 |  | $ | 80,405 |  | $ | — |  | $ | 81,470 |
Restricted cash | 103 |  | — |  | — |  | — |  | 103 |
Accounts receivable | 38,944 |  | 547,174 |  | 443,329 |  | (666,135 | ) | 363,312 |
Inventories | 22,062 |  | 86,917 |  | 252,700 |  | — |  | 361,679 |
Income taxes refundable | 2,998 |  | — |  | 5,358 |  | — |  | 8,356 |
Prepaid expenses | 14,930 |  | 3,297 |  | 25,078 |  | — |  | 43,305 |
Other current assets | 4,011 |  | (2,063 | ) | 18,305 |  | — |  | 20,253 |
Total current assets | 84,077 |  | 635,361 |  | 825,175 |  | (666,135 | ) | 878,478 |
Investment in subsidiaries | 4,820,655 |  | 1,366,126 |  | 844,044 |  | (7,030,825 | ) | — |
Property, plant and equipment, net | 334,101 |  | 498,771 |  | 798,164 |  | — |  | 1,631,036 |
Intangible assets, net | 29,897 |  | 208,535 |  | 354,802 |  | — |  | 593,234 |
Goodwill | 41,489 |  | 490,748 |  | 701,308 |  | — |  | 1,233,545 |
Investment in unconsolidated subsidiaries | 12,535 |  | — |  | 386,259 |  | — |  | 398,794 |
Other assets | 38,612 |  | 49,149 |  | 172,242 |  | (205,429 | ) | 54,574 |
Deferred taxes | — |  | — |  | 15,550 |  | — |  | 15,550 |
| $ | 5,361,366 |  | $ | 3,248,690 |  | $ | 4,097,544 |  | $ | (7,902,389 | ) | $ | 4,805,211 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 5,025 |  | $ | — |  | $ | 6,075 |  | $ | — |  | $ | 11,100 |
Accounts payable | 689,123 |  | 20,604 |  | 130,892 |  | (662,850 | ) | 177,769 |
Income taxes payable | (128 | ) | — |  | 6,034 |  | — |  | 5,906 |
Accrued expenses | 89,167 |  | 28,520 |  | 176,655 |  | (3,286 | ) | 291,056 |
Total current liabilities | 783,187 |  | 49,124 |  | 319,656 |  | (666,136 | ) | 485,831 |
Long-term debt, net of current portion | 1,041,407 |  | — |  | 832,151 |  | (205,429 | ) | 1,668,129 |
Other noncurrent liabilities | 67,314 |  | — |  | 34,564 |  | — |  | 101,878 |
Deferred income taxes | 88,908 |  | — |  | 145,162 |  | — |  | 234,070 |
Total liabilities | 1,980,816 |  | 49,124 |  | 1,331,533 |  | (871,565 | ) | 2,489,908 |
Total stockholders’ equity | 3,380,550 |  | 3,199,566 |  | 2,766,011 |  | (7,030,824 | ) | 2,315,303 |
| $ | 5,361,366 |  | $ | 3,248,690 |  | $ | 4,097,544 |  | $ | (7,902,389 | ) | $ | 4,805,211 |
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 September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 136,460 |  | $ | 328,148 |  | $ | 410,936 |  | $ | (62,968 | ) | $ | 812,576 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 107,979 |  | 274,147 |  | 328,943 |  | (62,968 | ) | 648,101 |
Selling, general and administrative expenses | 34,967 |  | 7,457 |  | 25,023 |  | — |  | 67,447 |
Depreciation and amortization | 12,036 |  | 25,322 |  | 41,484 |  | — |  | 78,842 |
Total costs and expenses | 154,982 |  | 306,926 |  | 395,450 |  | (62,968 | ) | 794,390 |
Operating income/(loss) | (18,522 | ) | 21,222 |  | 15,486 |  | — |  | 18,186 |
Interest expense | (13,823 | ) | 190 |  | (6,447 | ) | — |  | (20,080 | )
Foreign currency losses | (4 | ) | (2 | ) | (2,100 | ) | — |  | (2,106 | )
Gain on disposal of subsidiary | — |  | — |  | 3,038 |  | — |  | 3,038 |
Other expense, net | (1,791 | ) | (656 | ) | (339 | ) | — |  | (2,786 | )
Equity in net loss of unconsolidated subsidiaries | (732 | ) | — |  | (2,060 | ) | — |  | (2,792 | )
Earnings in investments in subsidiaries | 28,438 |  | — |  | — |  | (28,438 | ) | — |
Income/(loss) before taxes | (6,434 | ) | 20,754 |  | 7,578 |  | (28,438 | ) | (6,540 | )
Income tax expense/(benefit) | (397 | ) | 179 |  | (1,185 | ) | — |  | (1,403 | )
Net income attributable to noncontrolling interests | — |  | — |  | (900 | ) | — |  | (900 | )
Net income/(loss) attributable to Darling | $ | (6,037 | ) | $ | 20,575 |  | $ | 7,863 |  | $ | (28,438 | ) | $ | (6,037 | )
Condensed Consolidated Statements of Operations For the nine months ended September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 391,281 |  | $ | 1,021,248 |  | $ | 1,302,210 |  | $ | (180,143 | ) | $ | 2,534,596 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 306,068 |  | 820,993 |  | 1,032,283 |  | (180,143 | ) | 1,979,201 |
Selling, general and administrative expenses | 115,138 |  | 32,719 |  | 85,050 |  | — |  | 232,907 |
Restructuring and impairment charges | — |  | — |  | 14,965 |  | — |  | 14,965 |
Depreciation and amortization | 34,672 |  | 77,555 |  | 123,688 |  | — |  | 235,915 |
Total costs and expenses | 455,878 |  | 931,267 |  | 1,255,986 |  | (180,143 | ) | 2,462,988 |
Operating income/(loss) | (64,597 | ) | 89,981 |  | 46,224 |  | — |  | 71,608 |
Interest expense | (42,380 | ) | 7,193 |  | (31,033 | ) | — |  | (66,220 | )
Debt extinguishment costs | (15,635 | ) | — |  | (7,874 | ) | — |  | (23,509 | )
Foreign currency losses | (441 | ) | (96 | ) | (6,545 | ) | — |  | (7,082 | )
Gain/(loss) on disposal of subsidiary | (15,538 | ) | — |  | 3,038 |  | — |  | (12,500 | )
Other income/(expense), net | (15,405 | ) | (172 | ) | 11,474 |  | — |  | (4,103 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (1,807 | ) | — |  | 111,405 |  | — |  | 109,598 |
Earnings in investments in subsidiaries | 207,477 |  | — |  | — |  | (207,477 | ) | — |
Income/(loss) before taxes | 51,674 |  | 96,906 |  | 126,689 |  | (207,477 | ) | 67,792 |
Income tax expense/(benefit) | (9,174 | ) | 5,706 |  | 7,460 |  | — |  | 3,992 |
Net income attributable to noncontrolling interests | — |  | — |  | (2,952 | ) | — |  | (2,952 | )
Net income/(loss) attributable to Darling | $ | 60,848 |  | $ | 91,200 |  | $ | 116,277 |  | $ | (207,477 | ) | $ | 60,848 |
Condensed Consolidated Statements of Operations For the three months ended September 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 135,001 |  | $ | 378,088 |  | $ | 487,584 |  | $ | (64,411 | ) | $ | 936,262 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 103,591 |  | 315,847 |  | 387,484 |  | (64,411 | ) | 742,511 |
Selling, general and administrative expenses | 36,307 |  | 14,031 |  | 31,815 |  | — |  | 82,153 |
Depreciation and amortization | 10,485 |  | 26,949 |  | 39,768 |  | — |  | 77,202 |
Total costs and expenses | 150,383 |  | 356,827 |  | 459,067 |  | (64,411 | ) | 901,866 |
Operating income/(loss) | (15,382 | ) | 21,261 |  | 28,517 |  | — |  | 34,396 |
Interest expense | (14,076 | ) | 4,009 |  | (12,464 | ) | — |  | (22,531 | )
Foreign currency gains/(losses) | (32 | ) | 320 |  | (2,343 | ) | — |  | (2,055 | )
Other income/(expense), net | (5,152 | ) | 1,555 |  | 1,064 |  | — |  | (2,533 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (487 | ) | — |  | 8,190 |  | — |  | 7,703 |
Earnings in investments in subsidiaries | 27,810 |  | — |  | — |  | (27,810 | ) | — |
Income/(loss) before taxes | (7,319 | ) | 27,145 |  | 22,964 |  | (27,810 | ) | 14,980 |
Income tax expense/(benefit) | (15,080 | ) | 11,782 |  | 9,594 |  | — |  | 6,296 |
Net income attributable to noncontrolling interests | — |  | — |  | (923 | ) | — |  | (923 | )
Net income/(loss) attributable to Darling | $ | 7,761 |  | $ | 15,363 |  | $ | 12,447 |  | $ | (27,810 | ) | $ | 7,761 |
Condensed Consolidated Statements of Operations For the nine months ended September 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 407,054 |  | $ | 1,098,112 |  | $ | 1,385,575 |  | $ | (181,039 | ) | $ | 2,709,702 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 321,231 |  | 899,129 |  | 1,090,400 |  | (181,039 | ) | 2,129,721 |
Selling, general and administrative expenses | 110,381 |  | 41,559 |  | 101,668 |  | — |  | 253,608 |
Depreciation and amortization | 30,750 |  | 78,261 |  | 112,295 |  | — |  | 221,306 |
Total costs and expenses | 462,362 |  | 1,018,949 |  | 1,304,363 |  | (181,039 | ) | 2,604,635 |
Operating income/(loss) | (55,308 | ) | 79,163 |  | 81,212 |  | — |  | 105,067 |
Interest expense | (41,909 | ) | 12,000 |  | (36,748 | ) | — |  | (66,657 | )
Foreign currency gains/(losses) | (216 | ) | 500 |  | (4,714 | ) | — |  | (4,430 | )
Other income/(expense), net | (13,183 | ) | (3 | ) | 4,803 |  | — |  | (8,383 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (1,253 | ) | — |  | 17,922 |  | — |  | 16,669 |
Earnings in investments in subsidiaries | 92,641 |  | — |  | — |  | (92,641 | ) | — |
Income/(loss) before taxes | (19,228 | ) | 91,660 |  | 62,475 |  | (92,641 | ) | 42,266 |
Income tax expense/(benefit) | (41,967 | ) | 34,386 |  | 23,437 |  | — |  | 15,856 |
Net income attributable to noncontrolling interests | — |  | — |  | (3,671 | ) | — |  | (3,671 | )
Net income/(loss) attributable to Darling | $ | 22,739 |  | $ | 57,274 |  | $ | 35,367 |  | $ | (92,641 | ) | $ | 22,739 |
Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income/(Loss) | Condensed Consolidated Statements of Comprehensive Income/(Loss) For the three months ended September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | (5,137 | ) | $ | 20,575 |  | $ | 7,863 |  | $ | (28,438 | ) | $ | (5,137 | )
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | 165 |  | — |  | (5,749 | ) | — |  | (5,584 | )
Pension adjustments | 565 |  | — |  | 103 |  | — |  | 668 |
Natural gas swap derivative adjustments | — |  | — |  | — |  | — |  | — |
Soybean meal derivative adjustments | 3 |  | — |  | — |  | — |  | 3 |
Corn option derivative adjustments | (40 | ) | — |  | — |  | — |  | (40 | )
Foreign exchange derivative adjustments | — |  | — |  | 309 |  | — |  | 309 |
Total other comprehensive income/(loss), net of tax | 693 |  | — |  | (5,337 | ) | — |  | (4,644 | )
Total comprehensive income/(loss) | (4,444 | ) | 20,575 |  | 2,526 |  | (28,438 | ) | (9,781 | )
Total comprehensive loss attributable to noncontrolling interest | — |  | — |  | (538 | ) | — |  | (538 | )
Total comprehensive income/(loss) attributable to Darling | $ | (4,444 | ) | $ | 20,575 |  | $ | 3,064 |  | $ | (28,438 | ) | $ | (9,243 | )
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the nine months ended September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 63,800 |  | $ | 91,200 |  | $ | 116,277 |  | $ | (207,477 | ) | $ | 63,800 |
Other comprehensive income/ (loss), net of tax: |  |  |  |  |
Foreign currency translation | 1,281 |  | (53,387 | ) | (13,020 | ) | — |  | (65,126 | )
Pension adjustments | 1,696 |  | — |  | 305 |  | — |  | 2,001 |
Natural gas swap derivative adjustments | 22 |  | — |  | — |  | — |  | 22 |
Soybean meal derivative adjustments | 3 |  | — |  | — |  | — |  | 3 |
Corn option derivative adjustments | (1,198 | ) | — |  | — |  | — |  | (1,198 | )
Foreign exchange derivative adjustments | — |  | — |  | 309 |  | — |  | 309 |
Total other comprehensive income/(loss), net of tax | 1,804 |  | (53,387 | ) | (12,406 | ) | — |  | (63,989 | )
Total comprehensive income/(loss) | 65,604 |  | 37,813 |  | 103,871 |  | (207,477 | ) | (189 | )
Total comprehensive income attributable to noncontrolling interest | — |  | — |  | 1,981 |  | — |  | 1,981 |
Total comprehensive income/(loss) attributable to Darling | $ | 65,604 |  | $ | 37,813 |  | $ | 101,890 |  | $ | (207,477 | ) | $ | (2,170 | )
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the three months ended September 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 8,684 |  | $ | 15,363 |  | $ | 12,447 |  | $ | (27,810 | ) | $ | 8,684 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 46,211 |  | — |  | 46,211 |
Pension adjustments | 641 |  | — |  | 118 |  | — |  | 759 |
Natural gas swap derivative adjustments | 22 |  | — |  | — |  | — |  | 22 |
Corn option derivative adjustments | 850 |  | — |  | — |  | — |  | 850 |
Total other comprehensive income/(loss), net of tax | 1,513 |  | — |  | 46,329 |  | — |  | 47,842 |
Total comprehensive income/(loss) | 10,197 |  | 15,363 |  | 58,776 |  | (27,810 | ) | 56,526 |
Total comprehensive income attributable to noncontrolling interest | — |  | — |  | 109 |  | — |  | 109 |
Total comprehensive income/(loss) attributable to Darling | $ | 10,197 |  | $ | 15,363 |  | $ | 58,667 |  | $ | (27,810 | ) | $ | 56,417 |
Condensed Consolidated Statements of Comprehensive Income/(Loss) For the nine months ended September 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income/(loss) | $ | 26,410 |  | $ | 57,274 |  | $ | 35,367 |  | $ | (92,641 | ) | $ | 26,410 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 111,002 |  | — |  | 111,002 |
Pension adjustments | 1,923 |  | — |  | 355 |  | — |  | 2,278 |
Natural gas swap derivative adjustments | 22 |  | — |  | — |  | — |  | 22 |
Corn option derivative adjustments | (1,121 | ) | — |  | — |  | — |  | (1,121 | )
Total other comprehensive income, net of tax | 824 |  | — |  | 111,357 |  | — |  | 112,181 |
Total comprehensive income/(loss) | 27,234 |  | 57,274 |  | 146,724 |  | (92,641 | ) | 138,591 |
Total comprehensive loss attributable to noncontrolling interest | — |  | — |  | (62 | ) | — |  | (62 | )
Total comprehensive income/(loss) attributable to Darling | $ | 27,234 |  | $ | 57,274 |  | $ | 146,786 |  | $ | (92,641 | ) | $ | 138,653 |
Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows | Condensed Consolidated Statements of Cash Flows For the nine months ended September 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 63,800 |  | $ | 91,200 |  | $ | 116,277 |  | $ | (207,477 | ) | $ | 63,800 |
Earnings in investments in subsidiaries | (207,477 | ) | — |  | — |  | 207,477 |  | — |
Other operating cash flows | 187,663 |  | (49,424 | ) | (2,341 | ) | — |  | 135,898 |
Net cash provided by operating activities | 43,986 |  | 41,776 |  | 113,936 |  | — |  | 199,698 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (75,282 | ) | (65,079 | ) | (73,365 | ) | — |  | (213,726 | )
Acquisitions | (51,301 | ) | — |  | — |  | — |  | (51,301 | )
Investment in subsidiaries and affiliates | (10,000 | ) | (198,880 | ) | — |  | 198,880 |  | (10,000 | )
Proceeds from sale of investment in subsidiary | 80,000 |  | — |  | 2,805 |  | — |  | 82,805 |
Note receivable from affiliates | — |  | 217,880 |  | (217,880 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 1,282 |  | 843 |  | 1,236 |  | — |  | 3,361 |
Proceeds from insurance settlements | 750 |  | 503 |  | — |  | — |  | 1,253 |
Payments related to routes and other intangibles | (246 | ) | — |  | (1,007 | ) | — |  | (1,253 | )
Net cash used in investing activities | (54,797 | ) | (44,733 | ) | (288,211 | ) | 198,880 |  | (188,861 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 623,698 |  | — |  | 623,698 |
Payments on long-term debt | (10,090 | ) | — |  | (651,178 | ) | — |  | (661,268 | )
Borrowings from revolving facilities | 238,000 |  | — |  | 148,436 |  | — |  | 386,436 |
Payments on revolving facilities | (215,000 | ) | — |  | (147,463 | ) | — |  | (362,463 | )
Net cash overdraft financing | — |  | — |  | 3,361 |  | — |  | 3,361 |
Deferred loan costs | (824 | ) | — |  | (8,844 | ) | — |  | (9,668 | )
Issuances of common stock | 182 |  | — |  | — |  | — |  | 182 |
Contributions from parent | — |  | — |  | 198,880 |  | (198,880 | ) | — |
Minimum withholding taxes paid on stock awards | (2,152 | ) | — |  | (63 | ) | — |  | (2,215 | )
Distributions to noncontrolling interests | — |  | — |  | (8,005 | ) | — |  | (8,005 | )
Net cash used in financing activities | 10,116 |  | — |  | 158,822 |  | (198,880 | ) | (29,942 | )
Effect of exchange rate changes on cash | — |  | — |  | (6,238 | ) | — |  | (6,238 | )
Net decrease in cash, cash equivalents and restricted cash | (695 | ) | (2,957 | ) | (21,691 | ) | — |  | (25,343 | )
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 | $ | 1,132 |  | $ | 36 |  | $ | 80,405 |  | $ | — |  | $ | 81,573 |
Condensed Consolidated Statements of Cash Flows For the nine months ended September 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 26,410 |  | $ | 57,274 |  | $ | 35,367 |  | $ | (92,641 | ) | $ | 26,410 |
Earnings in investments in subsidiaries | (92,641 | ) | — |  | — |  | 92,641 |  | — |
Other operating cash flows | 188,304 |  | (59,113 | ) | 113,170 |  | — |  | 242,361 |
Net cash provided by operating activities | 122,073 |  | (1,839 | ) | 148,537 |  | — |  | 268,771 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (63,746 | ) | (57,388 | ) | (75,312 | ) | — |  | (196,446 | )
Acquisitions | — |  | (12,144 | ) | — |  | — |  | (12,144 | )
Investment in subsidiaries and affiliates | (4,750 | ) | — |  | — |  | — |  | (4,750 | )
Note receivable from affiliates | — |  | 67,000 |  | (67,000 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 2,309 |  | 1,311 |  | 1,333 |  | — |  | 4,953 |
Proceeds from insurance settlements | — |  | — |  | 3,301 |  | — |  | 3,301 |
Payments related to routes and other intangibles | (5,635 | ) | — |  | — |  | — |  | (5,635 | )
Net cash used in investing activities | (71,822 | ) | (1,221 | ) | (137,678 | ) | — |  | (210,721 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds for long-term debt | — |  | — |  | 24,069 |  | — |  | 24,069 |
Payments on long-term debt | (47,182 | ) | — |  | (47,068 | ) | — |  | (94,250 | )
Borrowings from revolving credit facility | 142,000 |  | — |  | — |  | — |  | 142,000 |
Payments on revolving credit facility | (142,000 | ) | — |  | (5,327 | ) | — |  | (147,327 | )
Net cash overdraft financing | — |  | — |  | 2,590 |  | — |  | 2,590 |
Deferred loan costs | (1,177 | ) | — |  | — |  | — |  | (1,177 | )
Issuances of common stock | 22 |  | — |  | — |  | — |  | 22 |
Minimum withholding taxes paid on stock awards | (2,126 | ) | — |  | (14 | ) | — |  | (2,140 | )
Acquisition of noncontrolling interests | — |  | — |  | (429 | ) | — |  | (429 | )
Distributions to noncontrolling interests | — |  | — |  | (2,513 | ) | — |  | (2,513 | )
Net cash used in financing activities | (50,463 | ) | — |  | (28,692 | ) | — |  | (79,155 | )
Effect of exchange rate changes on cash | — |  | — |  | 16,676 |  | — |  | 16,676 |
Net decrease in cash, cash equivalents and restricted cash | (212 | ) | (3,060 | ) | (1,157 | ) | — |  | (4,429 | )
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 | $ | 1,361 |  | $ | 2,694 |  | $ | 106,373 |  | $ | — |  | $ | 110,428 |

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