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5. Variable Interest Entity | 6 Months Ended
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Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Variable Interest Entity | The financial position and results of operations of AAP are consolidated in our financial statements based on our conclusion that AAP is a variable interest entity due to our contribution in excess of 50% of the total equity, subordinated debt and other forms of financial support. We have provided substantial financial support to fund the operations of AAP since its inception. The financial position and results of operations for AAP are reported in our recycling segment. On August 15, 2017, we sold our 50% interest in AAP. See Note 14 – Subsequent Events to these condensed consolidated financial statements. The following table summarizes the assets and liabilities of AAP as of July 1, 2017 and December 31, 2016:
|  | July 1, 2017 |  |  | December 31, 2016 |
Assets |  |  |  |  |  |  |  |
Current assets |  | $ | 293 |  |  | $ | 438 |
Property and equipment, net |  |  | 6,933 |  |  |  | 7,322 |
Other assets |  |  | 93 |  |  |  | 83 |
Total assets |  | $ | 7,319 |  |  | $ | 7,843 |
Liabilities |  |  |  |  |  |  |  |
Accounts payable |  | $ | 2,569 |  |  | $ | 1,388 |
Accrued expenses |  |  | 585 |  |  |  | 523 |
Current maturities of long-term debt obligations |  |  | 728 |  |  |  | 3,558 |
Long-term debt obligations, net of current maturities |  |  | 3,166 |  |  |  | 435 |
Other liabilities (a) |  |  | 289 |  |  |  | 1,126 |
Total liabilities |  | $ | 7,337 |  |  | $ | 7,030 |
(a) Other liabilities represent loans and advances between ARCA and AAP that are eliminated in consolidation. The following table summarizes the operating results of AAP for the 13 weeks and 26 weeks ended July 1, 2017, and July 2, 2016, respectively:
|  | 13 Weeks Months Ended |
|  | July 1, 2017 |  |  | July 2, 2016 |
Revenues |  | $ | 642 |  |  | $ | 1,695 |
Gross profit |  |  | 100 |  |  |  | 319 |
Operating loss |  |  | (236 | ) |  |  | (93 | )
Net loss |  |  | (299 | ) |  |  | (159 | )
|  | 26 Weeks Ended |
|  | July 1, 2017 |  |  | July 2, 2016 |
Revenues |  | $ | 1,127 |  |  | $ | 3,480 |
Gross profit |  |  | (14 | ) |  |  | 475 |
Operating loss |  |  | (708 | ) |  |  | (364 | )
Net loss |  |  | (826 | ) |  |  | (514 | )

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- Definition The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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