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Supplemental Condensed Consolidating Financial Statements | 12 Months Ended
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Jan. 03, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Condensed Consolidating Financial Statements | Supplemental Condensed Consolidating Financial Statements The condensed consolidating financial information as of January 3, 2015, and January 4, 2014, and for fiscal 2014, fiscal 2013, and fiscal 2012 is provided due to restrictions in our U.S. revolving credit facility that limit distributions by BlueLinx Corporation, our operating company and our wholly-owned subsidiary, to us; which, in turn, may limit our ability to pay dividends to holders of our common stock. Also included in the supplemental condensed consolidated/combining financial statements are fifty-two single member limited liability companies, which are wholly owned by us (the “LLC subsidiaries”). The LLC subsidiaries own certain warehouse properties that are occupied by BlueLinx Corporation, each under the terms of a master lease agreement. The warehouse properties collateralize a mortgage loan and are not available to satisfy the debts and other obligations of either us or BlueLinx Corporation. Certain changes have been made to the prior year presentation to conform to the current year presentation. The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 3, 2015, follows:
| BlueLinx Holdings |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Net sales | $ | — |  |  | $ | 1,979,393 |  |  | $ | 26,329 |  |  | $ | (26,329 | ) |  | $ | 1,979,393 |
Cost of sales | — |  |  | 1,750,289 |  |  | — |  |  | — |  |  | 1,750,289 |
Gross profit | — |  |  | 229,104 |  |  | 26,329 |  |  | (26,329 | ) |  | 229,104 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general, and administrative | 5,498 |  |  | 232,186 |  |  | (5,260 | ) |  | (26,329 | ) |  | 206,095 |
Depreciation and amortization | — |  |  | 6,405 |  |  | 3,068 |  |  | — |  |  | 9,473 |
Total operating expenses | 5,498 |  |  | 238,591 |  |  | (2,192 | ) |  | (26,329 | ) |  | 215,568 |
Operating income (loss) | (5,498 | ) |  | (9,487 | ) |  | 28,521 |  |  | — |  |  | 13,536 |
Non-operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | 13,688 |  |  | 13,083 |  |  | — |  |  | 26,771 |
Other expense (income), net | — |  |  | 337 |  |  | (12 | ) |  | — |  |  | 325 |
Income (loss) before provision for (benefit from) income taxes | (5,498 | ) |  | (23,512 | ) |  | 15,450 |  |  | — |  |  | (13,560 | )
Provision for (benefit from) income taxes | (160 | ) |  | 22 |  |  | 450 |  |  | — |  |  | 312 |
Equity income (loss) of subsidiaries | (8,534 | ) |  | — |  |  | — |  |  | 8,534 |  |  | — |
Net income (loss) | $ | (13,872 | ) |  | $ | (23,534 | ) |  | $ | 15,000 |  |  | $ | 8,534 |  |  | $ | (13,872 | )
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014, follows:
| BlueLinx Holdings |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Net sales | $ | — |  |  | $ | 2,151,972 |  |  | $ | 27,363 |  |  | $ | (27,363 | ) |  | $ | 2,151,972 |
Cost of sales | — |  |  | 1,923,489 |  |  | — |  |  | — |  |  | 1,923,489 |
Gross profit | — |  |  | 228,483 |  |  | 27,363 |  |  | (27,363 | ) |  | 228,483 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general, and administrative | 5,913 |  |  | 267,232 |  |  | (5,115 | ) |  | (27,363 | ) |  | 240,667 |
Depreciation and amortization | — |  |  | 5,700 |  |  | 3,417 |  |  | — |  |  | 9,117 |
Total operating expenses | 5,913 |  |  | 272,932 |  |  | (1,698 | ) |  | (27,363 | ) |  | 249,784 |
Operating income (loss) | (5,913 | ) |  | (44,449 | ) |  | 29,061 |  |  | — |  |  | (21,301 | )
Non-operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | 13,686 |  |  | 14,338 |  |  | — |  |  | 28,024 |
Other expense (income), net | — |  |  | 318 |  |  | (12 | ) |  | — |  |  | 306 |
Income (loss) before provision for (benefit from) income taxes | (5,913 | ) |  | (58,453 | ) |  | 14,735 |  |  | — |  |  | (49,631 | )
Provision for (benefit from) income taxes | (157 | ) |  | (9,248 | ) |  | 392 |  |  | — |  |  | (9,013 | )
Equity income (loss) of subsidiaries | (34,862 | ) |  | — |  |  | — |  |  | 34,862 |  |  | — |
Net income (loss) | $ | (40,618 | ) |  | $ | (49,205 | ) |  | $ | 14,343 |  |  | $ | 34,862 |  |  | $ | (40,618 | )
The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012, follows:
| BlueLinx Holdings |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Net sales | $ | — |  |  | $ | 1,907,842 |  |  | $ | 28,330 |  |  | $ | (28,330 | ) |  | $ | 1,907,842 |
Cost of sales | — |  |  | 1,677,772 |  |  | — |  |  | — |  |  | 1,677,772 |
Gross profit | — |  |  | 230,070 |  |  | 28,330 |  |  | (28,330 | ) |  | 230,070 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general, and administrative | 3,940 |  |  | 250,098 |  |  | (9,712 | ) |  | (28,330 | ) |  | 215,996 |
Depreciation and amortization | — |  |  | 5,040 |  |  | 3,525 |  |  | — |  |  | 8,565 |
Total operating expenses | 3,940 |  |  | 255,138 |  |  | (6,187 | ) |  | (28,330 | ) |  | 224,561 |
Operating income (loss) | (3,940 | ) |  | (25,068 | ) |  | 34,517 |  |  | — |  |  | 5,509 |
Non-operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | — |  |  | 12,159 |  |  | 15,998 |  |  | — |  |  | 28,157 |
Other expense (income), net | — |  |  | 10 |  |  | (17 | ) |  | — |  |  | (7 | )
Income (loss) before provision for (benefit from) income taxes | (3,940 | ) |  | (37,237 | ) |  | 18,536 |  |  | — |  |  | (22,641 | )
Provision for (benefit from) income taxes | 386 |  |  | — |  |  | — |  |  | — |  |  | 386 |
Equity income (loss) of subsidiaries | (18,701 | ) |  | — |  |  | — |  |  | 18,701 |  |  | — |
Net income (loss) | $ | (23,027 | ) |  | $ | (37,237 | ) |  | $ | 18,536 |  |  | $ | 18,701 |  |  | $ | (23,027 | )
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 3, 2015, follows:
| BlueLinx Holdings Inc. |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Assets: |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash | $ | 27 |  |  | $ | 4,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,522 |
Receivables | — |  |  | 144,537 |  |  | — |  |  | — |  |  | 144,537 |
Inventories | — |  |  | 242,546 |  |  | — |  |  | — |  |  | 242,546 |
Deferred income tax asset, net | — |  |  | — |  |  | 50 |  |  | (50 | ) |  | — |
Other current assets | 228 |  |  | 22,353 |  |  | 708 |  |  | — |  |  | 23,289 |
Intercompany receivable | 74,071 |  |  | 30,634 |  |  | — |  |  | (104,705 | ) |  | — |
Total current assets | 74,326 |  |  | 444,565 |  |  | 758 |  |  | (104,755 | ) |  | 414,894 |
Property and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and land improvements | — |  |  | 4,061 |  |  | 37,034 |  |  | — |  |  | 41,095 |
Buildings | — |  |  | 11,367 |  |  | 78,794 |  |  | — |  |  | 90,161 |
Machinery and equipment | — |  |  | 77,279 |  |  | — |  |  | — |  |  | 77,279 |
Construction in progress | — |  |  | 1,188 |  |  | — |  |  | — |  |  | 1,188 |
Property and equipment, at cost | — |  |  | 93,895 |  |  | 115,828 |  |  | — |  |  | 209,723 |
Accumulated depreciation | — |  |  | (70,077 | ) |  | (34,379 | ) |  | — |  |  | (104,456 | )
Property and equipment, net | — |  |  | 23,818 |  |  | 81,449 |  |  | — |  |  | 105,267 |
Investment in subsidiaries | (78,264 | ) |  | — |  |  | — |  |  | 78,264 |  |  | — |
Non-current deferred income tax assets, net | — |  |  | 551 |  |  | — |  |  | (50 | ) |  | 501 |
Other non-current assets | — |  |  | 9,739 |  |  | 8,581 |  |  | — |  |  | 18,320 |
Total assets | $ | (3,938 | ) |  | $ | 478,673 |  |  | $ | 90,788 |  |  | $ | (26,541 | ) |  | $ | 538,982 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | 606 |  |  | $ | 66,685 |  |  | $ | — |  |  | $ | — |  |  | $ | 67,291 |
Bank overdrafts | — |  |  | 27,280 |  |  | — |  |  | — |  |  | 27,280 |
Accrued compensation | 23 |  |  | 5,620 |  |  | — |  |  | — |  |  | 5,643 |
Current maturities of long-term debt | — |  |  | — |  |  | 2,679 |  |  | — |  |  | 2,679 |
Deferred income tax liabilities, net | — |  |  | 568 |  |  | — |  |  | (50 | ) |  | 518 |
Other current liabilities | 413 |  |  | 12,342 |  |  | 1,076 |  |  | — |  |  | 13,831 |
Intercompany payable | 30,633 |  |  | 74,072 |  |  | — |  |  | (104,705 | ) |  | — |
Total current liabilities | 31,675 |  |  | 186,567 |  |  | 3,755 |  |  | (104,755 | ) |  | 117,242 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 229,353 |  |  | 173,921 |  |  | — |  |  | 403,274 |
Non-current deferred income taxes | — |  |  | — |  |  | 50 |  |  | (50 | ) |  | — |
Other non-current liabilities | 413 |  |  | 54,079 |  |  | — |  |  | — |  |  | 54,492 |
Total liabilities | 32,088 |  |  | 469,999 |  |  | 177,726 |  |  | (104,805 | ) |  | 575,008 |
Stockholders’ equity (deficit)/Parent’s investment | (36,026 | ) |  | 8,674 |  |  | (86,938 | ) |  | 78,264 |  |  | (36,026 | )
Total liabilities and equity (deficit) | $ | (3,938 | ) |  | $ | 478,673 |  |  | $ | 90,788 |  |  | $ | (26,541 | ) |  | $ | 538,982 |
The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 4, 2014, follows:
| BlueLinx Holdings Inc. |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Assets: |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash | $ | 47 |  |  | $ | 4,987 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,034 |
Receivables | — |  |  | 150,297 |  |  | — |  |  | — |  |  | 150,297 |
Inventories | — |  |  | 223,580 |  |  | — |  |  | — |  |  | 223,580 |
Deferred income tax asset, net | — |  |  | — |  |  | 397 |  |  | (397 | ) |  | — |
Other current assets | 790 |  |  | 20,208 |  |  | 1,816 |  |  | — |  |  | 22,814 |
Intercompany receivable | 68,454 |  |  | 26,374 |  |  | — |  |  | (94,828 | ) |  | — |
Total current assets | 69,291 |  |  | 425,446 |  |  | 2,213 |  |  | (95,225 | ) |  | 401,725 |
Property and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and land improvements | — |  |  | 4,040 |  |  | 37,136 |  |  | — |  |  | 41,176 |
Buildings | — |  |  | 10,839 |  |  | 79,243 |  |  | — |  |  | 90,082 |
Machinery and equipment | — |  |  | 73,004 |  |  | — |  |  | — |  |  | 73,004 |
Construction in progress | — |  |  | 3,028 |  |  | — |  |  | — |  |  | 3,028 |
Property and equipment, at cost | — |  |  | 90,911 |  |  | 116,379 |  |  | — |  |  | 207,290 |
Accumulated depreciation | — |  |  | (64,557 | ) |  | (31,614 | ) |  | — |  |  | (96,171 | )
Property and equipment, net | — |  |  | 26,354 |  |  | 84,765 |  |  | — |  |  | 111,119 |
Investment in subsidiaries | (47,735 | ) |  | — |  |  | — |  |  | 47,735 |  |  | — |
Non-current deferred income tax assets, net | — |  |  | 1,221 |  |  | — |  |  | (397 | ) |  | 824 |
Other non-current assets | — |  |  | 11,768 |  |  | 3,053 |  |  | — |  |  | 14,821 |
Total assets | $ | 21,556 |  |  | $ | 464,789 |  |  | $ | 90,031 |  |  | $ | (47,887 | ) |  | $ | 528,489 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | 1,080 |  |  | $ | 59,283 |  |  | $ | — |  |  | $ | — |  |  | $ | 60,363 |
Bank overdrafts | — |  |  | 19,377 |  |  | — |  |  | — |  |  | 19,377 |
Accrued compensation | — |  |  | 4,173 |  |  | — |  |  | — |  |  | 4,173 |
Current maturities of long-term debt | — |  |  | — |  |  | 9,141 |  |  | — |  |  | 9,141 |
Deferred income tax liabilities, net | — |  |  | 1,220 |  |  | — |  |  | (397 | ) |  | 823 |
Other current liabilities | — |  |  | 11,727 |  |  | 1,222 |  |  | — |  |  | 12,949 |
Intercompany payable | 26,374 |  |  | 68,454 |  |  | — |  |  | (94,828 | ) |  | — |
Total current liabilities | 27,454 |  |  | 164,234 |  |  | 10,363 |  |  | (95,225 | ) |  | 106,826 |
Non-current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 211,193 |  |  | 176,045 |  |  | — |  |  | 387,238 |
Non-current deferred income taxes | — |  |  | — |  |  | 397 |  |  | (397 | ) |  | — |
Other non-current liabilities | — |  |  | 40,323 |  |  | — |  |  | — |  |  | 40,323 |
Total liabilities | 27,454 |  |  | 415,750 |  |  | 186,805 |  |  | (95,622 | ) |  | 534,387 |
Stockholders’ equity (deficit)/Parent’s investment | (5,898 | ) |  | 49,039 |  |  | (96,774 | ) |  | 47,735 |  |  | (5,898 | )
Total liabilities and equity (deficit) | $ | 21,556 |  |  | $ | 464,789 |  |  | $ | 90,031 |  |  | $ | (47,887 | ) |  | $ | 528,489 |
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 3, 2015, follows (in thousands):
| BlueLinx Holdings Inc. |  | BlueLinx Corporation |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income | $ | (13,872 | ) |  | $ | (23,534 | ) |  | $ | 15,000 |  |  | $ | 8,534 |  |  | $ | (13,872 | )
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | — |  |  | 6,405 |  |  | 3,068 |  |  | — |  |  | 9,473 |
Amortization of debt issue costs | — |  |  | 1,735 |  |  | 1,421 |  |  | — |  |  | 3,156 |
Loss (gain) from sale of properties | — |  |  | — |  |  | (5,251 | ) |  | — |  |  | (5,251 | )
Severance charges | — |  |  | 2,067 |  |  | — |  |  | — |  |  | 2,067 |
Restructuring payments | — |  |  | (2,805 | ) |  | — |  |  | — |  |  | (2,805 | )
Deferred income tax benefit | — |  |  | 17 |  |  | — |  |  | — |  |  | 17 |
Pension expense | — |  |  | 901 |  |  | — |  |  | — |  |  | 901 |
Share-based compensation, excluding restructuring related | 1,590 |  |  | 2,250 |  |  | — |  |  | — |  |  | 3,840 |
Increase in restricted cash related to insurance and other | — |  |  | (263 | ) |  | — |  |  | — |  |  | (263 | )
Decrease (increase) in prepaid assets | 89 |  |  | (1,031 | ) |  | — |  |  | — |  |  | (942 | )
Accrued compensation and other | 1,322 |  |  | (2,857 | ) |  | (907 | ) |  | — |  |  | (2,442 | )
Equity in earnings of subsidiaries | 8,534 |  |  | — |  |  | — |  |  | (8,534 | ) |  | — |
Intercompany receivable | (5,617 | ) |  | (4,262 | ) |  | — |  |  | 9,879 |  |  | — |
Intercompany payable | 4,259 |  |  | 5,620 |  |  | — |  |  | (9,879 | ) |  | — |
| (3,695 | ) |  | (15,757 | ) |  | 13,331 |  |  | — |  |  | (6,121 | )
Changes in primary working capital components: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables | — |  |  | 5,760 |  |  | — |  |  | — |  |  | 5,760 |
Inventories | — |  |  | (18,966 | ) |  | — |  |  | — |  |  | (18,966 | )
Accounts payable | (376 | ) |  | 7,402 |  |  | — |  |  | — |  |  | 7,026 |
Net cash (used in) provided by operating activities | (4,071 | ) |  | (21,561 | ) |  | 13,331 |  |  | — |  |  | (12,301 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries | 4,359 |  |  | 806 |  |  | (5,165 | ) |  | — |  |  | — |
Property, plant and equipment investments | — |  |  | (3,016 | ) |  | — |  |  | — |  |  | (3,016 | )
Proceeds from disposition of assets | — |  |  | 248 |  |  | 7,120 |  |  | — |  |  | 7,368 |
Net cash provided by (used in) investing activities | 4,359 |  |  | (1,962 | ) |  | 1,955 |  |  | — |  |  | 4,352 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Excess tax benefits from share-based compensation arrangements | — |  |  | (16 | ) |  | — |  |  | — |  |  | (16 | )
Repurchase of shares to satisfy employee tax withholdings | (210 | ) |  | (747 | ) |  | — |  |  | — |  |  | (957 | )
Repayments on revolving credit facilities | — |  |  | (476,473 | ) |  | — |  |  | — |  |  | (476,473 | )
Borrowings on revolving credit facilities | — |  |  | 494,794 |  |  | — |  |  | — |  |  | 494,794 |
Payments of principal on mortgage | — |  |  | — |  |  | (9,220 | ) |  | — |  |  | (9,220 | )
Payments on capital lease obligations | — |  |  | (2,228 | ) |  | — |  |  | — |  |  | (2,228 | )
(Decrease) increase in bank overdrafts | — |  |  | 7,902 |  |  | — |  |  | — |  |  | 7,902 |
Increase in restricted cash related to the mortgage | — |  |  | — |  |  | (6,066 | ) |  | — |  |  | (6,066 | )
Proceeds from rights offering, less expenses paid | (98 | ) |  | — |  |  | — |  |  | — |  |  | (98 | )
Debt issuance costs | — |  |  | (201 | ) |  | — |  |  | — |  |  | (201 | )
Net cash provided by (used in) financing activities | (308 | ) |  | 23,031 |  |  | (15,286 | ) |  | — |  |  | 7,437 |
Increase (decrease) in cash | (20 | ) |  | (492 | ) |  | — |  |  | — |  |  | (512 | )
Balance, beginning of period | 47 |  |  | 4,987 |  |  | — |  |  | — |  |  | 5,034 |
Balance, end of period | $ | 27 |  |  | $ | 4,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,522 |
Supplemental cash flow information: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income tax refunds (income taxes paid) during the period | $ | — |  |  | $ | 40 |  |  | $ | (250 | ) |  | $ | — |  |  | $ | (210 | )
Interest paid during the period | $ | — |  |  | $ | 11,490 |  |  | $ | 11,657 |  |  | $ | — |  |  | $ | 23,147 |
Noncash transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital leases | $ | — |  |  | $ | 1,108 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,108 |
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 4, 2014, follows (in thousands):
| BlueLinx Holdings Inc. |  | BlueLinx Corporation |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income | $ | (40,618 | ) |  | $ | (49,205 | ) |  | $ | 14,343 |  |  | $ | 34,862 |  |  | $ | (40,618 | )
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | — |  |  | 5,700 |  |  | 3,417 |  |  | — |  |  | 9,117 |
Amortization of debt issue costs | — |  |  | 1,841 |  |  | 1,343 |  |  | — |  |  | 3,184 |
Write-off of debt issuance costs | — |  |  | 119 |  |  | — |  |  | — |  |  | 119 |
Loss (gain) from sale of properties | — |  |  | 554 |  |  | (5,774 | ) |  | — |  |  | (5,220 | )
Vacant property charges, net | — |  |  | 1,321 |  |  | — |  |  | — |  |  | 1,321 |
Severance charges | — |  |  | 5,607 |  |  | — |  |  | — |  |  | 5,607 |
Payments on modification of lease agreement | — |  |  | (300 | ) |  | — |  |  | — |  |  | (300 | )
Deferred income tax benefit | — |  |  | (5 | ) |  | (397 | ) |  | 397 |  |  | (5 | )
Restructuring payments | — |  |  | (3,057 | ) |  | — |  |  | — |  |  | (3,057 | )
Intraperiod income tax allocation related to the hourly pension plan | — |  |  | (8,894 | ) |  | — |  |  | — |  |  | (8,894 | )
Pension expense | — |  |  | 4,591 |  |  | — |  |  | — |  |  | 4,591 |
Share-based compensation, excluding restructuring related | 904 |  |  | 2,318 |  |  | — |  |  | — |  |  | 3,222 |
Share-based compensation, restructuring related | — |  |  | 2,895 |  |  | — |  |  | — |  |  | 2,895 |
Increase in restricted cash related to insurance and other | — |  |  | (1,810 | ) |  | — |  |  | — |  |  | (1,810 | )
Decrease (increase) in prepaid assets | (14 | ) |  | (3,048 | ) |  | — |  |  | — |  |  | (3,062 | )
Accrued compensation and other | 698 |  |  | (3,959 | ) |  | 625 |  |  | (397 | ) |  | (3,033 | )
Equity (deficit) in earnings of subsidiaries | 34,862 |  |  | — |  |  | — |  |  | (34,862 | ) |  | — |
Intercompany receivable | 5,527 |  |  | 2,440 |  |  | — |  |  | (7,967 | ) |  | — |
Intercompany payable | (2,440 | ) |  | (5,527 | ) |  | — |  |  | 7,967 |  |  | — |
| (1,081 | ) |  | (48,419 | ) |  | 13,557 |  |  | — |  |  | (35,943 | )
Changes in primary working capital components: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables | — |  |  | 7,168 |  |  | — |  |  | — |  |  | 7,168 |
Inventories | — |  |  | 6,479 |  |  | — |  |  | — |  |  | 6,479 |
Accounts payable | 779 |  |  | (17,973 | ) |  | (391 | ) |  | — |  |  | (17,585 | )
Net cash (used in) provided by operating activities | (302 | ) |  | (52,745 | ) |  | 13,166 |  |  | — |  |  | (39,881 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries | (35,202 | ) |  | 38,663 |  |  | (3,461 | ) |  | — |  |  | — |
Property, plant and equipment investments | — |  |  | (4,912 | ) |  | — |  |  | — |  |  | (4,912 | )
Proceeds from disposition of assets | — |  |  | 1,072 |  |  | 9,293 |  |  | — |  |  | 10,365 |
Net cash provided by (used in) investing activities | (35,202 | ) |  | 34,823 |  |  | 5,832 |  |  | — |  |  | 5,453 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Excess tax benefits from share-based compensation arrangements | — |  |  | 16 |  |  | — |  |  | — |  |  | 16 |
Repurchase of shares to satisfy employee tax withholdings | (3,192 | ) |  | — |  |  | — |  |  | — |  |  | (3,192 | )
Repayments on revolving credit facilities | — |  |  | (560,186 | ) |  | — |  |  | — |  |  | (560,186 | )
Borrowings on revolving credit facilities | — |  |  | 599,968 |  |  | — |  |  | — |  |  | 599,968 |
Payments of principal on mortgage | — |  |  | — |  |  | (19,038 | ) |  | — |  |  | (19,038 | )
Payments on capital lease obligations | — |  |  | (3,142 | ) |  | — |  |  | — |  |  | (3,142 | )
(Decrease) increase in bank overdrafts | — |  |  | (16,007 | ) |  | — |  |  | — |  |  | (16,007 | )
Increase in restricted cash related to the mortgage | — |  |  | — |  |  | 40 |  |  | — |  |  | 40 |
Proceeds from rights offering, less expenses paid | 38,715 |  |  | — |  |  | — |  |  | — |  |  | 38,715 |
Debt issuance costs | — |  |  | (2,900 | ) |  | — |  |  | — |  |  | (2,900 | )
Net cash provided by (used in) financing activities | 35,523 |  |  | 17,749 |  |  | (18,998 | ) |  | — |  |  | 34,274 |
Increase (decrease) in cash | 19 |  |  | (173 | ) |  | — |  |  | — |  |  | (154 | )
Balance, beginning of period | 28 |  |  | 5,160 |  |  | — |  |  | — |  |  | 5,188 |
Balance, end of period | $ | 47 |  |  | $ | 4,987 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,034 |
Supplemental cash flow information: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income taxes paid during the period | $ | — |  |  | $ | (61 | ) |  | $ | (271 | ) |  | $ | — |  |  | $ | (332 | )
Interest paid during the period | $ | — |  |  | $ | 11,226 |  |  | $ | 13,480 |  |  | $ | — |  |  | $ | 24,706 |
Noncash transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital leases | $ | — |  |  | $ | 5,069 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,069 |
The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 29, 2012, follows (in thousands):
| BlueLinx Holdings Inc. |  | BlueLinx Corporation |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net (loss) income | $ | (23,027 | ) |  | $ | (37,237 | ) |  | $ | 18,536 |  |  | $ | 18,701 |  |  | $ | (23,027 | )
Adjustments to reconcile net (loss) income to cash (used in) provided by operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | — |  |  | 5,040 |  |  | 3,525 |  |  | — |  |  | 8,565 |
Amortization of debt issue costs | — |  |  | 2,471 |  |  | 1,275 |  |  | — |  |  | 3,746 |
Gain from sale of properties | — |  |  | — |  |  | (9,885 | ) |  | — |  |  | (9,885 | )
Gain from property insurance settlement | — |  |  | — |  |  | (476 | ) |  | — |  |  | (476 | )
Vacant property charges, net | — |  |  | (30 | ) |  | — |  |  | — |  |  | (30 | )
Payments on modification of lease agreement | — |  |  | (5,875 | ) |  | — |  |  | — |  |  | (5,875 | )
Deferred income tax benefit | — |  |  | (20 | ) |  | — |  |  | — |  |  | (20 | )
Restructuring payments | — |  |  | (6,084 | ) |  | — |  |  | — |  |  | (6,084 | )
Pension expense | — |  |  | 3,942 |  |  | — |  |  | — |  |  | 3,942 |
Share-based compensation, excluding restructuring related | 528 |  |  | 2,269 |  |  | — |  |  | — |  |  | 2,797 |
Decrease (increase) in restricted cash related to insurance and other | — |  |  | 695 |  |  | — |  |  | — |  |  | 695 |
Decrease (increase) in prepaid assets | 189 |  |  | 700 |  |  | — |  |  | — |  |  | 889 |
Accrued compensation and other | (1,160 | ) |  | 6,259 |  |  | (561 | ) |  | — |  |  | 4,538 |
Equity (deficit) in earnings of subsidiaries | 18,701 |  |  | — |  |  | — |  |  | (18,701 | ) |  | — |
Intercompany receivable | (6,940 | ) |  | (10,332 | ) |  | — |  |  | 17,272 |  |  | — |
Intercompany payable | 10,332 |  |  | 6,940 |  |  | — |  |  | (17,272 | ) |  | — |
| (1,377 | ) |  | (31,262 | ) |  | 12,414 |  |  | — |  |  | (20,225 | )
Changes in primary working capital components: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivables | — |  |  | (18,593 | ) |  | — |  |  | — |  |  | (18,593 | )
Inventories | — |  |  | (44,482 | ) |  | — |  |  | — |  |  | (44,482 | )
Accounts payable | 42 |  |  | 8,619 |  |  | 389 |  |  | — |  |  | 9,050 |
Net cash (used in) provided by operating activities | (1,335 | ) |  | (85,718 | ) |  | 12,803 |  |  | — |  |  | (74,250 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment in subsidiaries | 1,862 |  |  | 154 |  |  | (2,016 | ) |  | — |  |  | — |
Property, plant and equipment investments | — |  |  | (2,826 | ) |  | — |  |  | — |  |  | (2,826 | )
Proceeds from disposition of assets | — |  |  | 997 |  |  | 18,198 |  |  | — |  |  | 19,195 |
Net cash provided by (used in) investing activities | 1,862 |  |  | (1,675 | ) |  | 16,182 |  |  | — |  |  | 16,369 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of shares to satisfy employee tax withholdings | (526 | ) |  | — |  |  | — |  |  | — |  |  | (526 | )
Repayments on revolving credit facilities | — |  |  | (473,349 | ) |  | — |  |  | — |  |  | (473,349 | )
Borrowings on revolving credit facilities | — |  |  | 550,270 |  |  | — |  |  | — |  |  | 550,270 |
Principal payments on mortgage | — |  |  | — |  |  | (37,272 | ) |  | — |  |  | (37,272 | )
Payments on capital lease obligations | — |  |  | (2,259 | ) |  | — |  |  | — |  |  | (2,259 | )
Increase in bank overdrafts | — |  |  | 13,020 |  |  | — |  |  | — |  |  | 13,020 |
Decrease in restricted cash related to the mortgage | — |  |  | — |  |  | 9,970 |  |  | — |  |  | 9,970 |
Debt financing costs | — |  |  | — |  |  | (1,683 | ) |  | — |  |  | (1,683 | )
Net cash (used in) provided by financing activities | (526 | ) |  | 87,682 |  |  | (28,985 | ) |  | — |  |  | 58,171 |
Increase in cash | 1 |  |  | 289 |  |  | — |  |  | — |  |  | 290 |
Cash balance, beginning of period | 27 |  |  | 4,871 |  |  | — |  |  | — |  |  | 4,898 |
Cash and cash equivalents balance, end of period | $ | 28 |  |  | $ | 5,160 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,188 |
Supplemental cash flow information: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income tax refunds (income taxes paid) during the period | $ | — |  |  | $ | 37 |  |  | $ | (545 | ) |  | $ | — |  |  | $ | (508 | )
Interest paid during the period | $ | — |  |  | $ | 9,309 |  |  | $ | 14,979 |  |  | $ | — |  |  | $ | 24,288 |
Noncash transactions: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital leases | $ | — |  |  | $ | 5,238 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,238 |
The condensed consolidating statement of stockholders’ equity (deficit) for BlueLinx Holdings Inc. for fiscal 2012, fiscal 2013, and fiscal 2014 follows:
| BlueLinx Holdings Inc. |  | BlueLinx Corporation and Subsidiaries |  | LLC Subsidiaries |  | Eliminations |  | Consolidated
| (In thousands)
Balance, December 31, 2011 | $ | 8,374 |  |  | $ | 83,626 |  |  | $ | (124,175 | ) |  | $ | 40,549 |  |  | $ | 8,374 |
Net (loss) income | (23,027 | ) |  | (37,237 | ) |  | 18,536 |  |  | 18,701 |  |  | (23,027 | )
Foreign currency translation adjustment, net of tax | 103 |  |  | 103 |  |  | — |  |  | (103 | ) |  | 103 |
Unrealized loss (income) from pension plan, net of tax | (8,245 | ) |  | (8,245 | ) |  | — |  |  | 8,245 |  |  | (8,245 | )
Issuance of restricted stock, net of forfeitures | 19 |  |  | 19 |  |  | — |  |  | (19 | ) |  | 19 |
Compensation related to share-based grants | 2,730 |  |  | — |  |  | — |  |  | — |  |  | 2,730 |
Impact of net settled shares for vested grants | (526 | ) |  | — |  |  | — |  |  | — |  |  | (526 | )
Other | (20 | ) |  | — |  |  | — |  |  | — |  |  | (20 | )
Net transactions with the Parent | — |  |  | 2,337 |  |  | (2,017 | ) |  | (320 | ) |  | — |
Balance, December 29, 2012 | $ | (20,592 | ) |  | $ | 40,603 |  |  | $ | (107,656 | ) |  | $ | 67,053 |  |  | $ | (20,592 | )
Net (loss) income | (40,618 | ) |  | (49,205 | ) |  | 14,343 |  |  | 34,862 |  |  | (40,618 | )
Foreign currency translation adjustment, net of tax | (161 | ) |  | (161 | ) |  | — |  |  | 161 |  |  | (161 | )
Unrealized income (loss) from pension plan, net of tax | 13,910 |  |  | 13,910 |  |  | — |  |  | (13,910 | ) |  | 13,910 |
Issuance of restricted stock, net of forfeitures | 6 |  |  | 6 |  |  | — |  |  | (6 | ) |  | 6 |
Issuance of performance shares | 6 |  |  | 6 |  |  | — |  |  | (6 | ) |  | 6 |
Issuance of stock related to the rights offering, net of expenses | 38,613 |  |  | — |  |  | — |  |  | — |  |  | 38,613 |
Compensation related to share-based grants | 6,117 |  |  | — |  |  | — |  |  | — |  |  | 6,117 |
Impact of net settled shares for vested grants | (3,193 | ) |  | — |  |  | — |  |  | — |  |  | (3,193 | )
Excess tax benefits from share-based compensation arrangements | 16 |  |  | — |  |  | — |  |  | — |  |  | 16 |
Other | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Net transactions with the Parent | — |  |  | 43,880 |  |  | (3,461 | ) |  | (40,419 | ) |  | — |
Balance, January 4, 2014 | $ | (5,898 | ) |  | $ | 49,039 |  |  | $ | (96,774 | ) |  | $ | 47,735 |  |  | $ | (5,898 | )
Net (loss) income | (13,872 | ) |  | (23,534 | ) |  | 15,000 |  |  | 8,534 |  |  | (13,872 | )
Foreign currency translation adjustment, net of tax | (481 | ) |  | (481 | ) |  | — |  |  | 481 |  |  | (481 | )
Unrealized income (loss) from pension plan, net of tax | (17,651 | ) |  | (17,651 | ) |  | — |  |  | 17,651 |  |  | (17,651 | )
Issuance of restricted stock, net of forfeitures | 18 |  |  | — |  |  | — |  |  | — |  |  | 18 |
Issuance of performance shares | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |
Issuance of stock related to the rights offering, net of expenses | — |  |  | — |  |  | — |  |  | — |  |  | — |
Compensation related to share-based grants | 2,896 |  |  | — |  |  | — |  |  | — |  |  | 2,896 |
Impact of net settled shares for vested grants | (963 | ) |  | — |  |  | — |  |  | — |  |  | (963 | )
Excess tax benefits from share-based compensation arrangements | (16 | ) |  | — |  |  | — |  |  | — |  |  | (16 | )
Other | (69 | ) |  | — |  |  | — |  |  | — |  |  | (69 | )
Net transactions with the Parent | — |  |  | 1,301 |  |  | (5,164 | ) |  | 3,863 |  |  | — |
Balance, January 3, 2015 | $ | (36,026 | ) |  | $ | 8,674 |  |  | $ | (86,938 | ) |  | $ | 78,264 |  |  | $ | (36,026 | )

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