Supplemental Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Jan. 02, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of condensed consolidating statement of operations

The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 2, 2016, follows:



	BlueLinx Holdings			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net sales	$	—		$	1,916,585		$	26,084		$	(26,084	)	$	1,916,585
Cost of sales	—			1,694,113			—			—			1,694,113
Gross profit	—			222,472			26,084			(26,084		)	222,472
Operating expenses:
Selling, general, and administrative	3,483			219,389			211			(27,142		)	195,941
Depreciation and amortization	—			6,713			3,028			—			9,741
Total operating expenses	3,483			226,102			3,239			(27,142		)	205,682
Operating income (loss)	(3,483		)	(3,630		)	22,845			1,058			16,790
Non-operating expenses:
Interest expense	—			14,944			12,398			—			27,342
Other expense (income), net	—			878			(7		)	—			871
Income (loss) before provision for (benefit from) income taxes	(3,483		)	(19,452		)	10,454			1,058			(11,423		)
Provision for (benefit from) income taxes	(91		)	(29		)	273			—			153
Equity income (loss) of subsidiaries	(9,242		)	—			—			9,242			—
Net income (loss)	$	(12,634	)	$	(19,423	)	$	10,181		$	10,300		$	(11,576	)

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			237,437			(5,260		)	(26,329		)	211,346
Gains from sales of property	—			(5,251		)	—			—			(5,251		)
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			272,452			(5,115		)	(27,363		)	245,887
Gains from sales of property	—			(5,220		)	—			—			(5,220		)
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	)

Schedule of condensed consolidating balance sheet

The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 2, 2016, follows:



	BlueLinx Holdings Inc.			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
	(In thousands)
Assets:
Current assets:
Cash	$	27		$	4,781		$	—		$	—		$	4,808
Receivables	—			138,545			—			—			138,545
Inventories	—			226,660			—			—			226,660
Other current assets	235			20,691			11,085			—			32,011
Intercompany receivable	76,307			33,908			—			(110,215		)	—
Total current assets	76,569			424,585			11,085			(110,215		)	402,024
Property and equipment:
Land and improvements	—			4,085			36,023			—			40,108
Buildings	—			11,351			77,655			—			89,006
Machinery and equipment	—			79,173			—			—			79,173
Construction in progress	—			255			—			—			255
Property and equipment, at cost	—			94,864			113,678			—			208,542
Accumulated depreciation	—			(70,384		)	(36,582		)	—			(106,966		)
Property and equipment, net	—			24,480			77,096			—			101,576
Investment in subsidiaries	(87,787		)	—			—			87,787			—
Other non-current assets	—			8,034			1,508			—			9,542
Total assets	$	(11,218	)	$	457,099		$	89,689		$	(22,428	)	$	513,142
Liabilities:
Current liabilities:
Accounts payable	$	577		$	87,510		$	—		$	—		$	88,087
Bank overdrafts	—			17,287			—			—			17,287
Accrued compensation	—			4,165			—			—			4,165
Current maturities of long-term debt	—			5,974			637			—			6,611
Other current liabilities	192			13,672			159			—			14,023
Intercompany payable	33,909			76,306			—			(110,215		)	—
Total current liabilities	34,678			204,914			796			(110,215		)	130,173
Non-current liabilities:
Long-term debt	—			210,920			166,853			—			377,773
Pension benefit obligation	—			36,791			—			—			36,791
Other non-current liabilities	—			14,480			(179		)	—			14,301
Total liabilities	34,678			467,105			167,470			(110,215		)	559,038
Stockholders’ equity (deficit)/Parent’s investment	(45,896		)	(10,006		)	(77,781		)	87,787			(45,896		)
Total liabilities and stockholders’ equity (deficit)	$	(11,218	)	$	457,099		$	89,689		$	(22,428	)	$	513,142

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 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			—
Other non-current assets	—			8,280			7,574			(50		)	15,804
Total assets	$	(3,938	)	$	476,663		$	89,781		$	(26,541	)	$	535,965
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
Other current liabilities	413			12,910			1,076			(50		)	14,349
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	—			227,343			172,914			—			400,257
Pension benefit obligation	—			41,763			—			—			41,763
Non-current deferred income taxes	—			—			50			(50		)	—
Other non-current liabilities	413			12,316			—			—			12,729
Total liabilities	32,088			467,989			176,719			(104,805		)	571,991
Stockholders’ equity (deficit)/Parent’s investment	(36,026		)	8,674			(86,938		)	78,264			(36,026		)
Total liabilities and stockholders’ equity (deficit)	$	(3,938	)	$	476,663		$	89,781		$	(26,541	)	$	535,965

Schedule of condensed consolidating statement of cash flows

The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 2, 2016, follows (in thousands):



	BlueLinx Holdings Inc.			BlueLinx Corporation			LLC Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(12,634	)	$	(19,423	)	$	10,181		$	10,300		$	(11,576	)
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:
Depreciation and amortization	—			6,713			3,028			—			9,741
Amortization of debt issue costs	—			1,570			1,420			—			2,990
Severance charges	—			1,432			—			—			1,432
Pension expense	—			730			—			—			730
Share-based compensation	335			1,492			—			—			1,827
Other	—			(1,968		)	—			—			(1,968		)
Equity in earnings of subsidiaries	9,242			—			—			(9,242		)	—
Intercompany receivable	(2,236		)	(3,274		)	—			5,510			—
Intercompany payable	3,276			2,234			—			(5,510		)	—
Changes in primary working capital components:
Receivables	—			5,992			—			—			5,992
Inventories	—			15,886			—			—			15,886
Accounts payable	(29		)	20,825			—			—			20,796
Prepaid assets	(7		)	2,926			—			—			2,919
Quarterly pension contributions	—			(4,634		)	—			—			(4,634		)
Payments on restructuring liability	—			(726		)	—			—			(726		)
Other assets and liabilities	(29		)	(2,423		)	(1,030		)	—			(3,482		)
Net cash (used in) provided by operating activities	(2,082		)	27,352			13,599			1,058			39,927
Cash flows from investing activities:
Investment in subsidiaries	2,082			—			(1,024		)	(1,058		)	—
Property, plant and equipment investments	—			(1,561		)	—			—			(1,561		)
Proceeds from disposition of assets	—			760			—			—			760
Net cash provided by (used in) investing activities	2,082			(801		)	(1,024		)	(1,058		)	(801		)
Cash flows from financing activities:
Repurchase of shares to satisfy employee tax withholdings	—			(459		)	—			—			(459		)
Repayments on revolving credit facilities	—			(421,045		)	—			—			(421,045		)
Borrowings from revolving credit facilities	—			409,009			—			—			409,009
Payments of principal on mortgage	—			—			(9,523		)	—			(9,523		)
Payments on capital lease obligations	—			(3,743		)	—			—			(3,743		)
(Decrease) increase in bank overdrafts	—			(9,993		)	—			—			(9,993		)
Increase in restricted cash related to the mortgage	—			—			(3,052		)	—			(3,052		)
Other	—			(34		)	—			—			(34		)
Net cash provided by (used in) financing activities	—			(26,265		)	(12,575		)	—			(38,840		)
Increase (decrease) in cash	—			286			—			—			286
Balance, beginning of period	27			4,495			—			—			4,522
Balance, end of period	$	27		$	4,781		$	—		$	—		$	4,808
Supplemental cash flow information:
Net income taxes paid during the period	$	—		$	445		$	248		$	—		$	693
Interest paid during the period	$	—		$	12,795		$	10,980		$	—		$	23,775
Noncash transactions:
Capital leases	$	—		$	5,075		$	—		$	—		$	5,075

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
Gain from sale of assets	—			—			(5,251		)	—			(5,251		)
Severance charges	—			2,067			—			—			2,067
Pension expense	—			901			—			—			901
Share-based compensation	1,590			2,250			—			—			3,840
Other	—			(148		)	—			—			(148		)
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		)	—
Changes in primary working capital components:
Accounts receivable	—			5,760			—			—			5,760
Inventories	—			(18,966		)	—			—			(18,966		)
Accounts payable	(376		)	7,402			—			—			7,026
Prepaid assets	89			(1,031		)	—			—			(942		)
Quarterly pension contributions	—			(4,676		)	—			—			(4,676		)
Payments on restructuring liability	—			(2,805		)	—			—			(2,805		)
Other assets and liabilities	1,322			1,721			(907		)	—			2,136
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:
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		)
Other	(98		)	(217		)	—			—			(315		)
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 taxes paid (refunds) 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
Gain (loss) from sale of properties	—			554			(5,774		)	—			(5,220		)
Severance charges	—			5,607			—			—			5,607
Intraperiod income tax allocation related to pension plan	—			(8,894		)	—			—			(8,894		)
Pension expense	—			4,591			—			—			4,591
Share-based compensation	904			5,213			—			—			6,117
Other	—			1,145			(397		)	—			748
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			—
Changes in primary working capital components:
Accounts receivable	—			7,168			—			—			7,168
Inventories	—			6,479			—			—			6,479
Accounts payable	779			(17,973		)	(391		)	—			(17,585		)
Prepaid assets	(14		)	(3,048		)	—			—			(3,062		)
Quarterly pension contributions	—			(472		)	—			—			(472		)
Payments on restructuring liability	—			(3,057		)	—			—			(3,057		)
Other assets and liabilities	698			(5,307		)	625			—			(3,984		)
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:
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		)
Proceeds from rights offering, less expenses paid	38,715			—			—			—			38,715
Debt issuance costs	—			(2,900		)	—			—			(2,900		)
Other	—			16			40			—			56
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

Schedule of condensed consolidating statement of stockholders' equity (deficit)

The condensed consolidating statement of stockholders’ equity (deficit) for BlueLinx Holdings Inc. for fiscal 2013, fiscal 2014, and fiscal 2015 follows:



	BlueLinx Holdings Inc.			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
	(In thousands)
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
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		)
Net (loss) income	(12,634		)	(19,423		)	10,181			10,300			(11,576		)
Foreign currency translation adjustment, net of tax	(759		)	(759		)	—			759			(759		)
Unrealized income (loss) from pension plan, net of tax	410			410			—			(410		)	410
Issuance of restricted stock, net of forfeitures	5			—			—			—			5
Issuance of performance shares	5			—			—			—			5
Compensation related to share-based grants	2,051			—			—			—			2,051
Impact of net settled shares for vested grants	(459		)	—			—			—			(459		)
Other	1,511			—			—			(1,058		)	453
Net transactions with the Parent	—			1,092			(1,024		)	(68		)	—
Balance, January 2, 2016	$	(45,896	)	$	(10,006	)	$	(77,781	)	$	87,787		$	(45,896	)