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Guarantor Financial Information (Tables) | 12 Months Ended
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Dec. 29, 2018
Guarantor Financial Information [Abstract] |
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of December 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 995 |  | $ | 32 |  | $ | 106,235 |  | $ | — |  | $ | 107,262 |
Restricted cash | 103 |  | — |  | 4 |  | — |  | 107 |
Accounts receivable | 56,113 |  | 619,628 |  | 461,005 |  | (751,009 | ) | 385,737 |
Inventories | 23,752 |  | 83,261 |  | 234,015 |  | — |  | 341,028 |
Income taxes refundable | 2,851 |  | — |  | 3,611 |  | — |  | 6,462 |
Prepaid expenses | 12,890 |  | 2,936 |  | 19,421 |  | — |  | 35,247 |
Other current assets | 2,680 |  | (1,418 | ) | 20,837 |  | — |  | 22,099 |
Total current assets | 99,384 |  | 704,439 |  | 845,128 |  | (751,009 | ) | 897,942 |
Investment in subsidiaries | 4,880,193 |  | 1,366,126 |  | 844,044 |  | (7,090,363 | ) | — |
Property, plant and equipment, net | 375,824 |  | 503,130 |  | 808,904 |  | — |  | 1,687,858 |
Intangible assets, net | 50,132 |  | 200,936 |  | 344,794 |  | — |  | 595,862 |
Goodwill | 49,506 |  | 490,748 |  | 688,905 |  | — |  | 1,229,159 |
Investment in unconsolidated subsidiaries | 13,969 |  | — |  | 396,208 |  | — |  | 410,177 |
Other assets | 39,395 |  | 138 |  | 13,842 |  | — |  | 53,375 |
Deferred income taxes | — |  | — |  | 14,981 |  | — |  | 14,981 |
| $ | 5,508,403 |  | $ | 3,265,517 |  | $ | 3,956,806 |  | $ | (7,841,372 | ) | $ | 4,889,354 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 3,558 |  | $ | 5 |  | $ | 3,929 |  | $ | — |  | $ | 7,492 |
Accounts payable | 783,406 |  | 24,388 |  | 162,678 |  | (750,993 | ) | 219,479 |
Income taxes payable | (10 | ) | — |  | 4,053 |  | — |  | 4,043 |
Accrued expenses | 107,572 |  | 33,387 |  | 168,541 |  | (16 | ) | 309,484 |
Total current liabilities | 894,526 |  | 57,780 |  | 339,201 |  | (751,009 | ) | 540,498 |
Long-term debt, net of current portion | 1,019,130 |  | 18 |  | 647,792 |  | — |  | 1,666,940 |
Other noncurrent liabilities | 78,589 |  | — |  | 36,443 |  | — |  | 115,032 |
Deferred income taxes | 95,710 |  | — |  | 135,353 |  | — |  | 231,063 |
Total liabilities | 2,087,955 |  | 57,798 |  | 1,158,789 |  | (751,009 | ) | 2,553,533 |
Total stockholders' equity | 3,420,448 |  | 3,207,719 |  | 2,798,017 |  | (7,090,363 | ) | 2,335,821 |
| $ | 5,508,403 |  | $ | 3,265,517 |  | $ | 3,956,806 |  | $ | (7,841,372 | ) | $ | 4,889,354 |
Condensed Consolidating 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 tax 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 Consolidating Statements of Operations For the year ended December 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 541,499 |  | $ | 1,338,376 |  | $ | 1,738,427 |  | $ | (230,576 | ) | $ | 3,387,726 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 421,942 |  | 1,080,236 |  | 1,375,481 |  | (230,576 | ) | 2,647,083 |
Selling, general and administrative expenses | 149,715 |  | 46,199 |  | 113,350 |  | — |  | 309,264 |
Restructuring and impairments charges | — |  | — |  | 14,965 |  | — |  | 14,965 |
Depreciation and amortization | 48,941 |  | 107,581 |  | 164,670 |  | — |  | 321,192 |
Total costs and expenses | 620,598 |  | 1,234,016 |  | 1,668,466 |  | (230,576 | ) | 3,292,504 |
Operating income/(loss) | (79,099 | ) | 104,360 |  | 69,961 |  | — |  | 95,222 |
Interest expense | (56,832 | ) | 7,397 |  | (36,994 | ) | — |  | (86,429 | )
Debt extinguishment costs | (15,635 | ) | — |  | (7,874 | ) | — |  | (23,509 | )
Foreign currency gains/(losses) | (431 | ) | (103 | ) | (5,897 | ) | — |  | (6,431 | )
Loss on disposal of subsidiaries | (15,583 | ) | — |  | 3,038 |  | — |  | (12,545 | )
Other income/(expense), net | (18,487 | ) | (1,019 | ) | 11,944 |  | — |  | (7,562 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (2,622 | ) | — |  | 161,851 |  | — |  | 159,229 |
Earnings in investments in subsidiaries | 270,943 |  | — |  | — |  | (270,943 | ) | — |
Income/(loss) from operations before taxes | 82,254 |  | 110,635 |  | 196,029 |  | (270,943 | ) | 117,975 |
Income taxes (benefit) | (19,242 | ) | 11,282 |  | 19,991 |  | — |  | 12,031 |
Net (income)/loss attributable to noncontrolling interests | — |  | — |  | (4,448 | ) | — |  | (4,448 | )
Net income/(loss) attributable to Darling | $ | 101,496 |  | $ | 99,353 |  | $ | 171,590 |  | $ | (270,943 | ) | $ | 101,496 |
Condensed Consolidating Statements of Operations For the year ended December 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 545,699 |  | $ | 1,464,920 |  | $ | 1,893,304 |  | $ | (241,672 | ) | $ | 3,662,251 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 429,681 |  | 1,198,271 |  | 1,489,163 |  | (241,672 | ) | 2,875,443 |
Selling, general and administrative expenses | 150,880 |  | 55,053 |  | 137,569 |  | — |  | 343,502 |
Depreciation and amortization | 42,366 |  | 106,406 |  | 153,328 |  | — |  | 302,100 |
Acquisition and integration costs | — |  | — |  | — |  | — |  | — |
Total costs and expenses | 622,927 |  | 1,359,730 |  | 1,780,060 |  | (241,672 | ) | 3,521,045 |
Operating income/(loss) | (77,228 | ) | 105,190 |  | 113,244 |  | — |  | 141,206 |
Interest expense | (55,336 | ) | 15,818 |  | (49,408 | ) | — |  | (88,926 | )
Foreign currency gains/(losses) | (234 | ) | 114 |  | (6,778 | ) | — |  | (6,898 | )
Loss on sale of subsidiaries | — |  | — |  | (885 | ) | — |  | (885 | )
Other income/(expense), net | (14,651 | ) | 37 |  | 5,813 |  | — |  | (8,801 | )
Equity in net income/(loss) of unconsolidated subsidiaries | (1,847 | ) | — |  | 30,351 |  | — |  | 28,504 |
Earnings in investments in subsidiaries | 438,580 |  | — |  | — |  | (438,580 | ) | — |
Income/(loss) from operations before taxes | 289,284 |  | 121,159 |  | 92,337 |  | (438,580 | ) | 64,200 |
Income taxes (benefit) | 160,816 |  | (130,508 | ) | (99,462 | ) | — |  | (69,154 | )
Net (income)/loss attributable to noncontrolling interests | — |  | — |  | (4,886 | ) | — |  | (4,886 | )
Net income/(loss) attributable to Darling | $ | 128,468 |  | $ | 251,667 |  | $ | 186,913 |  | $ | (438,580 | ) | $ | 128,468 |
Condensed Consolidating Statements of Operations For the year ended December 31, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 501,856 |  | $ | 1,341,925 |  | $ | 1,746,657 |  | $ | (198,510 | ) | $ | 3,391,928 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 392,876 |  | 1,085,582 |  | 1,355,385 |  | (198,510 | ) | 2,635,333 |
Selling, general and administrative expenses | 129,612 |  | 49,697 |  | 132,243 |  | — |  | 311,552 |
Depreciation and amortization | 41,106 |  | 105,261 |  | 143,541 |  | — |  | 289,908 |
Acquisition costs | — |  | — |  | 401 |  | — |  | 401 |
Total costs and expenses | 563,594 |  | 1,240,540 |  | 1,631,570 |  | (198,510 | ) | 3,237,194 |
Operating income/(loss) | (61,738 | ) | 101,385 |  | 115,087 |  | — |  | 154,734 |
Interest expense | (60,971 | ) | 17,492 |  | (50,708 | ) | — |  | (94,187 | )
Foreign currency gains/(losses) | 122 |  | (283 | ) | (1,693 | ) | — |  | (1,854 | )
Other income/(expense), net | (14,499 | ) | (1,226 | ) | 9,192 |  | — |  | (6,533 | )
Equity in net income/(loss) of unconsolidated subsidiary | (1,236 | ) | — |  | 71,615 |  | — |  | 70,379 |
Earnings in investments in subsidiaries | 223,347 |  | — |  | — |  | (223,347 | ) | — |
Income/(loss) from operations before taxes | 85,025 |  | 117,368 |  | 143,493 |  | (223,347 | ) | 122,539 |
Income taxes (benefit) | (17,288 | ) | 14,669 |  | 17,934 |  | — |  | 15,315 |
Net (income)/loss attributable to noncontrolling interests | — |  | — |  | (4,911 | ) | — |  | (4,911 | )
Net income/(loss) attributable to Darling | $ | 102,313 |  | $ | 102,699 |  | $ | 120,648 |  | $ | (223,347 | ) | $ | 102,313 |
Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income (Loss) | Condensed Consolidating Statements of Comprehensive Income/(Loss) For the year ended December 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income | $ | 105,944 |  | $ | 99,353 |  | $ | 171,590 |  | $ | (270,943 | ) | $ | 105,944 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | 1,724 |  | (53,387 | ) | (35,811 | ) | — |  | (87,474 | )
Pension adjustments | (4,184 | ) | — |  | 1,454 |  | — |  | (2,730 | )
Natural gas swap derivative adjustments | 23 |  | — |  | — |  | — |  | 23 |
Corn option derivative adjustments | (1,687 | ) | — |  | — |  | — |  | (1,687 | )
Foreign exchange derivative adjustments | — |  | — |  | 1,081 |  | — |  | 1,081 |
Total other comprehensive income/(loss), net of tax | (4,124 | ) | (53,387 | ) | (33,276 | ) | — |  | (90,787 | )
Total comprehensive income/(loss) | 101,820 |  | 45,966 |  | 138,314 |  | (270,943 | ) | 15,157 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | 3,894 |  | — |  | $ | 3,894 |
Comprehensive income/(loss) attributable to Darling | $ | 101,820 |  | $ | 45,966 |  | $ | 134,420 |  | $ | (270,943 | ) | $ | 11,263 |
Condensed Consolidating Statements of Comprehensive Income/(Loss) For the year ended December 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income | $ | 133,354 |  | $ | 251,667 |  | $ | 186,913 |  | $ | (438,580 | ) | $ | 133,354 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | 121,810 |  | — |  | 121,810 |
Pension adjustments | 4,797 |  | — |  | 1,032 |  | — |  | 5,829 |
Natural gas swap derivative adjustments | (18 | ) | — |  | — |  | — |  | (18 | )
Corn option derivative adjustments | (1,078 | ) | — |  | — |  | — |  | (1,078 | )
Total other comprehensive income, net of tax | 3,701 |  | — |  | 122,842 |  | — |  | 126,543 |
Total comprehensive income/(loss) | $ | 137,055 |  | $ | 251,667 |  | $ | 309,755 |  | $ | (438,580 | ) | $ | 259,897 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | 947 |  | — |  | 947 |
Comprehensive income/(loss) attributable to Darling | $ | 137,055 |  | $ | 251,667 |  | $ | 308,808 |  | $ | (438,580 | ) | $ | 258,950 |
Condensed Consolidating Statements of Comprehensive Income/(Loss) For the year ended December 31, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income | $ | 107,224 |  | $ | 102,699 |  | $ | 120,648 |  | $ | (223,347 | ) | $ | 107,224 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | — |  | — |  | (5,593 | ) | — |  | (5,593 | )
Pension adjustments | 1,766 |  | — |  | (2,782 | ) | — |  | (1,016 | )
Corn option derivative adjustments | 625 |  | — |  | — |  | — |  | 625 |
Total other comprehensive income/(loss), net of tax | 2,391 |  | — |  | (8,375 | ) | — |  | (5,984 | )
Total comprehensive income/(loss) | $ | 109,615 |  | $ | 102,699 |  | $ | 112,273 |  | $ | (223,347 | ) | $ | 101,240 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | 3,015 |  | — |  | 3,015 |
Comprehensive income/(loss) attributable to Darling | $ | 109,615 |  | $ | 102,699 |  | $ | 109,258 |  | $ | (223,347 | ) | $ | 98,225 |
Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows | Condensed Consolidating Statements of Cash Flows For the year ended December 29, 2018 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 105,944 |  | $ | 99,353 |  | $ | 171,590 |  | $ | (270,943 | ) | $ | 105,944 |
Earnings in investments in subsidiaries | (270,943 | ) | — |  | — |  | 270,943 |  | — |
Other operating cash flows | 323,903 |  | (81,561 | ) | 50,329 |  | — |  | 292,671 |
Net cash provided/(used) by operating activities | 158,904 |  | 17,792 |  | 221,919 |  | — |  | 398,615 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (115,004 | ) | (90,402 | ) | (116,490 | ) | — |  | (321,896 | )
Acquisitions, net of cash acquired | (100,500 | ) | — |  | (7,227 | ) | — |  | (107,727 | )
Investment in subsidiaries and affiliates | (12,250 | ) | (198,880 | ) | — |  | 198,880 |  | (12,250 | )
Proceeds from sale of investment in subsidiary | 79,955 |  | — |  | 2,805 |  | — |  | 82,760 |
Note receivable from affiliates | — |  | 266,880 |  | (266,880 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 2,125 |  | 1,146 |  | 16,057 |  | — |  | 19,328 |
Proceeds from insurance settlements | 750 |  | 503 |  | — |  | — |  | 1,253 |
Payments related to routes and other intangibles | (299 | ) | — |  | (3,584 | ) | — |  | (3,883 | )
Net cash provide/(used) in investing activities | (145,223 | ) | (20,753 | ) | (375,319 | ) | 198,880 |  | (342,415 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from long-term debt | — |  | — |  | 624,620 |  | — |  | 624,620 |
Payments on long-term debt | (15,116 | ) | — |  | (671,512 | ) | — |  | (686,628 | )
Borrowings from revolving credit facility | 351,000 |  | — |  | 192,898 |  | — |  | 543,898 |
Payments on revolving credit facility | (351,000 | ) | — |  | (159,974 | ) | — |  | (510,974 | )
Net overdraft financing | 3,558 |  | — |  | (98 | ) | — |  | 3,460 |
Deferred loan costs | (824 | ) | — |  | (8,844 | ) | — |  | (9,668 | )
Issuance of common stock | 182 |  | — |  | — |  | — |  | 182 |
Contributions from parent | — |  | — |  | 198,880 |  | (198,880 | ) | — |
Minimum withholding taxes paid on stock awards | (2,210 | ) | — |  | (5 | ) | — |  | (2,215 | )
Distributions to noncontrolling interests | — |  | — |  | (10,257 | ) | — |  | (10,257 | )
Net cash provided/(used) in financing activities | (14,410 | ) | — |  | 165,708 |  | (198,880 | ) | (47,582 | )
Effect of exchange rate changes on cash and cash equivalent | — |  | — |  | (8,165 | ) | — |  | (8,165 | )
Net increase/(decrease) in cash, cash equivalents and restricted cash | (729 | ) | (2,961 | ) | 4,143 |  | — |  | 453 |
Cash, cash equivalents and restricted cash at beginning of year | 1,827 |  | 2,993 |  | 102,096 |  | — |  | 106,916 |
Cash, cash equivalents and restricted cash at end of year | $ | 1,098 |  | $ | 32 |  | $ | 106,239 |  | $ | — |  | $ | 107,369 |
Condensed Consolidating Statements of Cash Flows For the year ended December 30, 2017 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 133,354 |  | $ | 251,667 |  | $ | 186,913 |  | $ | (438,580 | ) | $ | 133,354 |
Earnings in investments in subsidiaries | (438,580 | ) | — |  | — |  | 438,580 |  | — |
Other operating cash flows | 489,302 |  | (240,494 | ) | 28,274 |  | — |  | 277,082 |
Net cash provided by operating activities | 184,076 |  | 11,173 |  | 215,187 |  | — |  | 410,436 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (83,520 | ) | (74,384 | ) | (116,264 | ) | — |  | (274,168 | )
Acquisitions, net of cash acquired | — |  | (12,144 | ) | — |  | — |  | (12,144 | )
Investment in subsidiaries and affiliates | (6,309 | ) | (13,386 | ) | — |  | 14,945 |  | (4,750 | )
Note receivable from affiliates | — |  | 82,000 |  | (82,000 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 2,577 |  | 3,980 |  | 1,533 |  | — |  | 8,090 |
Proceeds from insurance settlements | — |  | — |  | 6,054 |  | — |  | 6,054 |
Payments related to routes and other intangibles | (7,135 | ) | — |  | — |  | — |  | (7,135 | )
Net cash provided/(used) in investing activities | (94,387 | ) | (13,934 | ) | (190,677 | ) | 14,945 |  | (284,053 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from long-term debt | — |  | — |  | 33,401 |  | — |  | 33,401 |
Payments on long-term debt | (79,706 | ) | — |  | (69,917 | ) | — |  | (149,623 | )
Borrowings from revolving credit facility | 170,000 |  | — |  | 29,495 |  | — |  | 199,495 |
Payments on revolving credit facility | (170,000 | ) | — |  | (34,935 | ) | — |  | (204,935 | )
Net overdraft financing | — |  | — |  | (714 | ) | — |  | (714 | )
Deferred loan costs | (6,717 | ) | — |  | — |  | — |  | (6,717 | )
Issuances of common stock | 22 |  | — |  | — |  | — |  | 22 |
Contributions from parent | — |  | — |  | 14,945 |  | (14,945 | ) | — |
Minimum withholding taxes paid on stock awards | (3,034 | ) | — |  | (15 | ) | — |  | (3,049 | )
Distributions to noncontrolling interest | — |  | — |  | (5,281 | ) | — |  | (5,281 | )
Deductions to noncontrolling interests | — |  | — |  | (17,451 | ) | — |  | (17,451 | )
Net cash provided/(used) in financing activities | (89,435 | ) | — |  | (50,472 | ) | (14,945 | ) | (154,852 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | — |  | 20,528 |  | — |  | 20,528 |
Net increase/(decrease) in cash, cash equivalents and restricted cash | 254 |  | (2,761 | ) | (5,434 | ) | — |  | (7,941 | )
Cash, cash equivalents and restricted cash at beginning of year | 1,573 |  | 5,754 |  | 107,530 |  | — |  | 114,857 |
Cash, cash equivalents and restricted cash at end of year | $ | 1,827 |  | $ | 2,993 |  | $ | 102,096 |  | $ | — |  | $ | 106,916 |
Condensed Consolidating Statements of Cash Flows For the year ended December 31, 2016 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income/(loss) | $ | 107,224 |  | $ | 102,699 |  | $ | 120,648 |  | $ | (223,347 | ) | $ | 107,224 |
Earnings in investments in subsidiaries | (223,347 | ) | — |  | — |  | 223,347 |  | — |
Other operating cash flows | 317,041 |  | (100,970 | ) | 67,703 |  | — |  | 283,774 |
Net cash provided/(used) by operating activities | 200,918 |  | 1,729 |  | 188,351 |  | — |  | 390,998 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (51,330 | ) | (91,340 | ) | (100,853 | ) | — |  | (243,523 | )
Acquisitions, net of cash acquired | — |  | — |  | (8,511 | ) | — |  | (8,511 | )
Investment in subsidiaries and affiliates | — |  | (12,754 | ) | — |  | 12,754 |  | — |
Note receivable from affiliates | — |  | 103,056 |  | (103,056 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 2,784 |  | 1,070 |  | 3,475 |  | — |  | 7,329 |
Proceeds from insurance settlements | — |  | — |  | 1,537 |  | — |  | 1,537 |
Payments related to routes and other intangibles | — |  | — |  | (23 | ) | — |  | (23 | )
Net cash provided/(used) in investing activities | (48,546 | ) | 32 |  | (207,431 | ) | 12,754 |  | (243,191 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from long-term debt | — |  | — |  | 36,327 |  | — |  | 36,327 |
Payments on long-term debt | (143,935 | ) | — |  | (60,493 | ) | — |  | (204,428 | )
Borrowing from revolving credit facility | 94,000 |  | — |  | 5,276 |  | — |  | 99,276 |
Payments on revolving credit facility | (94,000 | ) | — |  | (10,028 | ) | — |  | (104,028 | )
Net overdraft financing | — |  | — |  | 1,071 |  | — |  | 1,071 |
Deferred loan costs | (3,879 | ) | — |  | — |  | — |  | (3,879 | )
Issuances of common stock | 188 |  | — |  | — |  | — |  | 188 |
Repurchase of common stock | (5,000 | ) | — |  | — |  | — |  | (5,000 | )
Contributions from parent | — |  | — |  | 12,754 |  | (12,754 | ) | — |
Minimum withholding taxes paid on stock awards | (1,718 | ) | — |  | (125 | ) | — |  | (1,843 | )
Deductions to noncontrolling interest | — |  | — |  | — |  | — |  | — |
Distributions to noncontrolling interests | — |  | — |  | (1,552 | ) | — |  | (1,552 | )
Net cash provided/(used) in financing activities | (154,344 | ) | — |  | (16,770 | ) | (12,754 | ) | (183,868 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | — |  | (6,297 | ) | — |  | (6,297 | )
Net increase/(decrease) in cash, cash equivalents and restricted cash | (1,972 | ) | 1,761 |  | (42,147 | ) | — |  | (42,358 | )
Cash, cash equivalents and restricted cash at beginning of year | 3,545 |  | 3,993 |  | 149,677 |  | — |  | 157,215 |
Cash, cash equivalents and restricted cash at end of year | $ | 1,573 |  | $ | 5,754 |  | $ | 107,530 |  | $ | — |  | $ | 114,857 |

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