|
Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
12 Months Ended |
|
Jun. 24, 2012
|
Jun. 26, 2011
|
Dec. 25, 2011
|
Dec. 26, 2010
|
Dec. 20, 2009
|
| Cash flows from operating activities: |
|
|
|
|
|
| Net loss from continuing operations |
$ (56,686) |
$ (15,713) |
$ (53,194) |
$ (35,574) |
$ (24,251) |
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
| Depreciation |
10,672 |
11,663 |
22,566 |
22,865 |
23,196 |
| Amortization of other intangible assets |
10,125 |
10,161 |
20,317 |
20,698 |
20,306 |
| Amortization of vessel dry-docking |
6,635 |
8,138 |
15,376 |
15,014 |
13,686 |
| Impairment charge for 2010 |
|
|
115,356 |
2,919 |
|
| Amortization of deferred financing costs |
1,404 |
2,018 |
3,955 |
3,412 |
2,947 |
| Loss on conversion/modification of debt |
36,421 |
630 |
(16,017) |
|
50 |
| Impairment charge |
257 |
2,818 |
2,997 |
2,655 |
1,867 |
| Restructuring charge |
|
|
119,300 |
1,843 |
747 |
| Legal settlements |
|
(18,202) |
(5,483) |
32,270 |
20,000 |
| Gain on change in value of debt conversion features |
(19,130) |
|
(84,480) |
|
|
| Deferred income taxes |
266 |
2,026 |
162 |
148 |
10,617 |
| Gain on sale of interest in joint venture |
|
|
|
(724) |
|
| Gain on equipment disposals |
(213) |
(368) |
(935) |
(47) |
(225) |
| Stock-based compensation |
258 |
364 |
677 |
2,122 |
3,096 |
| Accretion of interest on convertible notes |
3,931 |
5,764 |
11,972 |
11,060 |
10,011 |
| Accretion of interest on legal settlements |
1,121 |
284 |
810 |
|
|
| Changes in operating assets and liabilities: |
|
|
|
|
|
| Accounts receivable |
(10,764) |
(21,449) |
(11,417) |
1,236 |
15,556 |
| Materials and supplies |
94 |
(3,772) |
(4,084) |
(44) |
(4,487) |
| Other current assets |
(407) |
(2,933) |
3,148 |
(1,164) |
1,279 |
| Accounts payable |
14,358 |
(10,973) |
(7,826) |
1,538 |
(1,885) |
| Accrued liabilities |
4,875 |
(2,844) |
(6,274) |
6,210 |
(1,461) |
| Vessel rent |
(6,612) |
(2,237) |
5,482 |
(5,199) |
(4,874) |
| Vessel dry-docking payments |
(9,336) |
(6,839) |
(12,547) |
(19,110) |
(14,696) |
| Legal settlement payments |
(1,500) |
(1,884) |
(8,518) |
(5,000) |
(5,000) |
| Other assets/liabilities |
32 |
(837) |
(3,495) |
(768) |
(3,488) |
| Net cash used in operating activities from continuing operations |
(14,199) |
(44,185) |
(11,452) |
53,441 |
62,991 |
| Net cash used in operating activities from discontinued operations |
(19,891) |
(20,975) |
(50,588) |
(17,008) |
(5,493) |
| Cash flows from investing activities: |
|
|
|
|
|
| Purchases of property and equipment |
(4,230) |
(6,708) |
(15,111) |
(15,991) |
(9,750) |
| Proceeds from the sale of property and equipment |
830 |
1,402 |
2,274 |
454 |
1,215 |
| Proceeds from the sale of interest in joint venture |
|
|
|
1,100 |
|
| Net cash used in investing activities from continuing operations |
(3,400) |
(5,306) |
(12,837) |
(14,437) |
(8,535) |
| Net cash used in investing activities from discontinued operations |
|
(390) |
(705) |
(545) |
(3,278) |
| Cash flows from financing activities: |
|
|
|
|
|
| Payments on long-term debt |
(1,125) |
(9,375) |
(93,750) |
(18,750) |
(7,968) |
| Borrowing under ABL facility |
42,500 |
|
|
|
|
| Borrowing under revolving credit facility |
|
97,500 |
104,500 |
108,800 |
64,000 |
| Payments on revolving credit facility |
|
(9,000) |
(204,500) |
(108,800) |
(84,000) |
| Proceeds from issuance of First Lien Notes |
|
|
225,000 |
|
|
| Proceeds from issuance of Second Lien Notes |
|
|
100,000 |
|
|
| Payment of financing costs |
(4,400) |
(6,848) |
(35,644) |
(75) |
(3,492) |
| Payments on capital lease obligations |
(900) |
(783) |
(1,628) |
(124) |
|
| Common stock issued under ESPP |
|
|
|
111 |
104 |
| Dividend to stockholders |
|
|
|
(6,281) |
(13,397) |
| Net cash provided by (used in) financing activities |
36,075 |
71,494 |
93,978 |
(25,119) |
(44,753) |
| Net increase in cash from continuing operations |
18,476 |
22,003 |
69,689 |
13,885 |
9,703 |
| Net decrease in cash from discontinued operations |
(19,891) |
(21,365) |
(51,293) |
(17,553) |
(8,771) |
| Net (decrease) increase in cash |
(1,415) |
638 |
18,396 |
(3,668) |
932 |
| Cash at beginning of period |
|
2,751 |
2,751 |
6,419 |
5,487 |
| Cash at end of period |
$ 19,732 |
$ 3,389 |
$ 21,147 |
$ 2,751 |
$ 6,419 |