|
Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 27, 2015
|
Mar. 29, 2014
|
| Operating activities |
|
|
| Net income |
$ 4,965 |
$ 11,235 |
| Adjustments to reconcile net income to net cash used in operating activities: |
|
|
| Depreciation and amortization expense |
920 |
735 |
| Stock-based compensation |
1,879 |
0 |
| Amortization of debt issuance costs |
185 |
0 |
| Changes in assets and liabilities: |
|
|
| Receivables |
(9,589) |
(42,219) |
| Other assets |
(14,409) |
(1,847) |
| Accounts payable |
(10,784) |
(9,087) |
| Billings in excess of costs |
4,967 |
(7,184) |
| Deferred taxes |
(2,071) |
(381) |
| Compensation and other employee benefits |
(3,393) |
(10,577) |
| Other liabilities |
101 |
2,874 |
| Net cash used in operating activities |
(27,229) |
(56,451) |
| Investing activities |
|
|
| Purchases of capital expenditures |
(465) |
(507) |
| Net cash used in investing activities |
(465) |
(507) |
| Financing activities |
|
|
| Proceeds from insurance financing |
14,857 |
0 |
| Payment of employee withholding taxes on share-based compensation |
(724) |
0 |
| Transfer to Former Parent, net |
0 |
53,913 |
| Net cash provided by financing activities |
14,133 |
53,913 |
| Exchange rate effect on cash |
(513) |
(38) |
| Net change in cash |
(14,074) |
(3,083) |
| Cash-beginning of year |
42,823 |
10,446 |
| Cash-end of period |
28,749 |
7,363 |
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
915 |
7 |
| Income taxes paid |
37 |
0 |
| Non-cash investing activities: |
|
|
| Purchase of capital expenditures on account |
$ 34 |
$ 24 |