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Guarantor Financial Information (Tables) | 12 Months Ended
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Dec. 28, 2019
Guarantor Financial Information [Abstract] |
Guarantor Financial Information Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of December 28, 2019 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
ASSETS |  |  |  |  |
Cash and cash equivalents | $ | 551 |  | $ | 26 |  | $ | 72,358 |  | $ | — |  | $ | 72,935 |
Restricted cash | 103 |  | — |  | 7 |  | — |  | 110 |
Accounts receivable, net | 51,097 |  | 702,945 |  | 518,614 |  | (866,318 | ) | 406,338 |
Inventories | 26,893 |  | 86,609 |  | 249,455 |  | — |  | 362,957 |
Income taxes refundable | 1,106 |  | — |  | 2,211 |  | — |  | 3,317 |
Prepaid expenses | 20,888 |  | 2,241 |  | 23,470 |  | — |  | 46,599 |
Other current assets | 5,399 |  | (2,326 | ) | 40,872 |  | (18,913 | ) | 25,032 |
Total current assets | 106,037 |  | 789,495 |  | 906,987 |  | (885,231 | ) | 917,288 |
Investment in subsidiaries | 5,365,956 |  | 1,366,635 |  | 844,043 |  | (7,576,634 | ) | — |
Property, plant and equipment, net | 434,237 |  | 524,577 |  | 843,597 |  | — |  | 1,802,411 |
Intangible assets, net | 44,404 |  | 170,581 |  | 311,409 |  | — |  | 526,394 |
Goodwill | 49,902 |  | 490,748 |  | 682,641 |  | — |  | 1,223,291 |
Investment in unconsolidated subsidiaries | — |  | — |  | 689,354 |  | — |  | 689,354 |
Operating lease right-of-use asset | 74,005 |  | 31,243 |  | 19,478 |  | — |  | 124,726 |
Other assets | 35,456 |  | 134 |  | 61,974 |  | (50,164 | ) | 47,400 |
Deferred income taxes | — |  | — |  | 14,394 |  | — |  | 14,394 |
| $ | 6,109,997 |  | $ | 3,373,413 |  | $ | 4,373,877 |  | $ | (8,512,029 | ) | $ | 5,345,258 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 40,916 |  | $ | 10 |  | $ | 68,983 |  | $ | (18,913 | ) | $ | 90,996 |
Accounts payable | 893,490 |  | 29,535 |  | 182,484 |  | (866,257 | ) | 239,252 |
Income taxes payable | (10 | ) | — |  | 8,905 |  | — |  | 8,895 |
Current operating lease liability | 20,454 |  | 10,510 |  | 6,841 |  | — |  | 37,805 |
Accrued expenses | 116,758 |  | 32,861 |  | 161,833 |  | (61 | ) | 311,391 |
Total current liabilities | 1,071,608 |  | 72,916 |  | 429,046 |  | (885,231 | ) | 688,339 |
Long-term debt, net of current portion | 1,040,974 |  | 30 |  | 567,589 |  | (50,164 | ) | 1,558,429 |
Long-term operating lease liability | 58,970 |  | 20,281 |  | 12,173 |  | — |  | 91,424 |
Other noncurrent liabilities | 80,409 |  | — |  | 35,376 |  | — |  | 115,785 |
Deferred income taxes | 122,109 |  | — |  | 125,822 |  | — |  | 247,931 |
Total liabilities | 2,374,070 |  | 93,227 |  | 1,170,006 |  | (935,395 | ) | 2,701,908 |
Total stockholders' equity | 3,735,927 |  | 3,280,186 |  | 3,203,871 |  | (7,576,634 | ) | 2,643,350 |
| $ | 6,109,997 |  | $ | 3,373,413 |  | $ | 4,373,877 |  | $ | (8,512,029 | ) | $ | 5,345,258 |
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, net | 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 subsidiary | 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 tax 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 |
Guarantor Financial Information Condensed Consolidating Statements Of Operations | Condensed Consolidating Statements of Operations For the year ended December 28, 2019 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net sales | $ | 652,708 |  | $ | 1,305,464 |  | $ | 1,637,861 |  | $ | (232,128 | ) | $ | 3,363,905 |
Cost and expenses: |  |  |  |  |
Cost of sales and operating expenses | 515,286 |  | 1,078,247 |  | 1,227,680 |  | (232,128 | ) | 2,589,085 |
Loss (gain) on sale of assets | (403 | ) | (7,356 | ) | (12,823 | ) | — |  | (20,582 | )
Selling, general and administrative expenses | 187,851 |  | 43,855 |  | 126,817 |  | — |  | 358,523 |
Depreciation and amortization | 61,777 |  | 104,247 |  | 159,486 |  | — |  | 325,510 |
Total costs and expenses | 764,511 |  | 1,218,993 |  | 1,501,160 |  | (232,128 | ) | 3,252,536 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 364,452 |  | — |  | 364,452 |
Operating income/(loss) | (111,803 | ) | 86,471 |  | 501,153 |  | — |  | 475,821 |
Interest expense | (56,240 | ) | (167 | ) | (22,267 | ) | — |  | (78,674 | )
Debt extinguishment costs | (12,126 | ) | — |  | — |  | — |  | (12,126 | )
Foreign currency gains/(losses) | (306 | ) | 4 |  | (1,009 | ) | — |  | (1,311 | )
Gain on disposal of subsidiaries | — |  | — |  | 2,967 |  | — |  | 2,967 |
Other income/(expense), net | (5,828 | ) | (880 | ) | 37 |  | — |  | (6,671 | )
Equity in net income/(loss) of other unconsolidated subsidiaries | (2,425 | ) | — |  | 2,853 |  | — |  | 428 |
Earnings in investments in subsidiaries | 471,827 |  | — |  | — |  | (471,827 | ) | — |
Income/(loss) from operations before taxes | 283,099 |  | 85,428 |  | 483,734 |  | (471,827 | ) | 380,434 |
Income taxes (benefit) | (29,501 | ) | 13,354 |  | 75,614 |  | — |  | 59,467 |
Net income attributable to noncontrolling interests | — |  | — |  | (8,367 | ) | — |  | (8,367 | )
Net income/(loss) attributable to Darling | $ | 312,600 |  | $ | 72,074 |  | $ | 399,753 |  | $ | (471,827 | ) | $ | 312,600 |
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 | 422,028 |  | 1,080,420 |  | 1,374,502 |  | (230,576 | ) | 2,646,374 |
Loss (gain) on sale of assets | (86 | ) | (184 | ) | 979 |  | — |  | 709 |
Selling, general and administrative expenses | 149,715 |  | 46,199 |  | 113,350 |  | — |  | 309,264 |
Restructuring and impairment 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 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 159,779 |  | — |  | 159,779 |
Operating income/(loss) | (79,099 | ) | 104,360 |  | 229,740 |  | — |  | 255,001 |
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 | )
Gain/(loss) on sale 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 | ) | — |  | 2,072 |  | — |  | (550 | )
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 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 | 429,983 |  | 1,198,528 |  | 1,488,841 |  | (241,672 | ) | 2,875,680 |
Loss (gain) on sale of assets | (302 | ) | (257 | ) | 322 |  | — |  | (237 | )
Selling, general and administrative expenses | 150,880 |  | 55,053 |  | 137,569 |  | — |  | 343,502 |
Depreciation and amortization | 42,366 |  | 106,406 |  | 153,328 |  | — |  | 302,100 |
Total costs and expenses | 622,927 |  | 1,359,730 |  | 1,780,060 |  | (241,672 | ) | 3,521,045 |
Equity in net income of Diamond Green Diesel | — |  | — |  | 28,239 |  | — |  | 28,239 |
Operating income/(loss) | (77,228 | ) | 105,190 |  | 141,483 |  | — |  | 169,445 |
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 subsidiary | (1,847 | ) | — |  | 2,112 |  | — |  | 265 |
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 attributable to noncontrolling interests | — |  | — |  | (4,886 | ) | — |  | (4,886 | )
Net income/(loss) attributable to Darling | $ | 128,468 |  | $ | 251,667 |  | $ | 186,913 |  | $ | (438,580 | ) | $ | 128,468 |
Guarantor Financial Information Condensed Consolidating Statements of Comprehensive Income (Loss) | Condensed Consolidating Statements of Comprehensive Income/(Loss) For the year ended December 28, 2019 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Net income | $ | 320,967 |  | $ | 72,074 |  | $ | 399,753 |  | $ | (471,827 | ) | $ | 320,967 |
Other comprehensive income/(loss), net of tax: |  |  |  |  |
Foreign currency translation | 837 |  | — |  | (12,771 | ) | — |  | (11,934 | )
Pension adjustments | 4,287 |  | — |  | (2,752 | ) | — |  | 1,535 |
Corn option derivative adjustments | 278 |  | — |  | — |  | — |  | 278 |
Heating oil derivative adjustments | — |  | — |  | (3,141 | ) | — |  | (3,141 | )
Foreign exchange derivative adjustments | — |  | — |  | (3,723 | ) | — |  | (3,723 | )
Total other comprehensive income/(loss), net of tax | 5,402 |  | — |  | (22,387 | ) | — |  | (16,985 | )
Total comprehensive income/(loss) | 326,369 |  | 72,074 |  | 377,366 |  | (471,827 | ) | 303,982 |
Comprehensive income attributable to noncontrolling interests | — |  | — |  | 8,690 |  | — |  | $ | 8,690 |
Comprehensive income/(loss) attributable to Darling | $ | 326,369 |  | $ | 72,074 |  | $ | 368,676 |  | $ | (471,827 | ) | $ | 295,292 |
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, 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/(loss), 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 |
Guarantor Financial Information Condensed Consolidating Statements Of Cash Flows | Condensed Consolidating Statements of Cash Flows For the year ended December 28, 2019 (in thousands)
| Parent | Guarantors | Non-guarantors | Eliminations | Consolidated
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 320,967 |  | $ | 72,074 |  | $ | 399,753 |  | $ | (471,827 | ) | $ | 320,967 |
Earnings in investments in subsidiaries | (471,827 | ) | — |  | — |  | 471,827 |  | — |
Other operating cash flows | 244,255 |  | 5,020 |  | (207,621 | ) | — |  | 41,654 |
Net cash provided by operating activities | 93,395 |  | 77,094 |  | 192,132 |  | — |  | 362,621 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (113,632 | ) | (94,659 | ) | (151,207 | ) | — |  | (359,498 | )
Acquisitions, net of cash acquired | (1,157 | ) | — |  | (274 | ) | — |  | (1,431 | )
Investment in subsidiaries and affiliates | (2,393 | ) | (393 | ) | — |  | 786 |  | (2,000 | )
Proceeds from sale of investment in subsidiary | — |  | — |  | 3,671 |  | — |  | 3,671 |
Note receivable from affiliates | 50,164 |  | — |  | (50,164 | ) | — |  | — |
Gross proceeds from sale of property, plant and equipment and other assets | 1,034 |  | 12,459 |  | 4,742 |  | — |  | 18,235 |
Proceeds from insurance settlements | 1,493 |  | 5,107 |  | — |  | — |  | 6,600 |
Payments related to routes and other intangibles | (131 | ) | — |  | (3,520 | ) | — |  | (3,651 | )
Net cash provide/(used) in investing activities | (64,622 | ) | (77,486 | ) | (196,752 | ) | 786 |  | (338,074 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from long-term debt | 500,000 |  | — |  | 17,606 |  | — |  | 517,606 |
Payments on long-term debt | (545,872 | ) | (7 | ) | (35,284 | ) | — |  | (581,163 | )
Borrowings from revolving credit facility | 281,000 |  | — |  | 188,227 |  | — |  | 469,227 |
Payments on revolving credit facility | (242,000 | ) | — |  | (219,669 | ) | — |  | (461,669 | )
Net overdraft financing | 8,358 |  | — |  | 30,009 |  | — |  | 38,367 |
Deferred loan costs | (7,027 | ) | — |  | — |  | — |  | (7,027 | )
Issuance of common stock | 39 |  | — |  | — |  | — |  | 39 |
Repurchase of common stock | (19,260 | ) | — |  | — |  | — |  | (19,260 | )
Contributions from parent | — |  | 393 |  | 393 |  | (786 | ) | — |
Minimum withholding taxes paid on stock awards | (4,455 | ) | — |  | (17 | ) | — |  | (4,472 | )
Distributions to noncontrolling interests | — |  | — |  | (6,533 | ) | — |  | (6,533 | )
Net cash provided/(used) in financing activities | (29,217 | ) | 386 |  | (25,268 | ) | (786 | ) | (54,885 | )
Effect of exchange rate changes on cash and cash equivalent | — |  | — |  | (3,986 | ) | — |  | (3,986 | )
Net increase/(decrease) in cash, cash equivalents and restricted cash | (444 | ) | (6 | ) | (33,874 | ) | — |  | (34,324 | )
Cash, cash equivalents and restricted cash at beginning of year | 1,098 |  | 32 |  | 106,239 |  | — |  | 107,369 |
Cash, cash equivalents and restricted cash at end of year | $ | 654 |  | $ | 26 |  | $ | 72,365 |  | $ | — |  | $ | 73,045 |
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/(loss) | $ | 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 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 provided/(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 | )
Issuances 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 interest | — |  | — |  | (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 equivalents | — |  | — |  | (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/(used) 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 | )
Borrowing 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 | )
Deductions to noncontrolling interest | — |  | — |  | (17,451 | ) | — |  | (17,451 | )
Distributions to noncontrolling interests | — |  | — |  | (5,281 | ) | — |  | (5,281 | )
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 |

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