Jack Cooper Holdings Corp.

CIK:0001655780|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Operating Revenues	$ 161,403	$ 175,771
Operating Expenses
Compensation and benefits	83,712	90,691
Fuel	14,151	12,818
Depreciation and amortization	9,362	12,904
Repairs and maintenance	11,438	13,580
Other operating	24,423	30,920
Selling, general and administrative expenses	12,680	12,825
Gain (loss) on disposal of property and equipment	258	659
Total operating expenses	156,024	174,397
Operating Income (Loss)	5,379	1,374
Other Expense (Income)
Interest expense, net	12,839	11,538
Other, net	(626)	(2,806)
Total other expenses	12,213	8,732
Income (Loss) Before Income Taxes	(6,834)	(7,358)
Provision (Benefit) for Income Taxes	56	255
Net Income (Loss)	(6,890)	(7,613)
Other Comprehensive Income (Loss), Net of Tax
Amortization of actuarial pension gain	19	21
Foreign currency translation loss	(327)	(1,991)
Comprehensive Income (Loss)	$ (7,198)	$ (9,583)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities
Net loss	$ (6,890)	$ (7,613)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	9,362	12,904
Deferred financing cost amortization	846	723
Loss on disposal of property and equipment	258	659
Deferred income taxes	133	120
Stock based compensation	(317)	210
Non-cash interest expense (income)	1	(97)
Unrealized foreign exchange gains, net	(579)	(2,767)
Changes in assets and liabilities:
Trade and other receivables	(3,548)	(4,594)
Prepaid expenses	(1,254)	(3,891)
Accounts payable and accrued expenses	14,550	10,507
Other non-current assets	(1,242)	(4,386)
Other non-current liabilities	326	(25)
Net cash provided by operating activities	11,646	1,750
Investing Activities
Proceeds from sale of property and equipment	251	7
Purchases of property and equipment	(4,608)	(6,184)
Net cash provided by (used in) investing activities	(4,357)	(6,177)
Financing Activities
Borrowings under Credit Facility		38,906
Payments on Credit Facility	(1,275)	(31,154)
Principal payments on long-term debt and other liabilities	(989)	(1,936)
Deferred financing costs	(215)
Net cash provided by (used in) financing activities	(2,479)	5,816
Effect of exchange rate change on cash	163	121
Increase in Cash, Cash Equivalents and Restricted Cash	4,973	1,510
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	18,054	2,691
Cash, Cash Equivalents and Restricted Cash, End of Period	23,027	4,201
Reconciliation of Cash, and Cash Equivalents and Restricted Cash
Cash and cash equivalents, beginning of period	17,934	2,571
Restricted cash, beginning of period	120	120
Cash and cash equivalents, end of period	22,907	4,081
Restricted cash, end of period	120	120
Cash, Cash Equivalents and Restricted Cash	$ 18,054	$ 2,691

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 22,907	$ 17,934
Accounts receivable, net of allowance	48,534	45,141
Prepaid expenses	17,561	16,304
Assets held for sale	122	126
Total current assets	89,124	79,505
Restricted cash	120	120
Property and equipment, net	106,348	111,027
Goodwill	32,151	32,038
Intangibles, net	25,879	26,344
Deposits and other assets	31,196	30,078
Total assets	284,818	279,112
Current Liabilities
Credit Facility	69,764	71,039
Current maturities of long-term debt	1,726	1,905
Accounts payable	22,572	22,766
Accrued wages and vacation payable	22,164	17,867
Other accrued liabilities	28,452	18,022
Total current liabilities	144,678	131,599
Other liabilities	7,390	7,515
Long-term debt, less current maturities	477,823	477,684
Pension liability	2,195	2,198
Deferred income taxes	10,102	9,969
Total liabilities	642,188	628,965
Stockholders' Deficit
Common stock, $0.0001 par value; 1,000 shares authorized; 100 issued and outstanding at March 31, 2017 and December 31, 2016
Additional paid-in capital
Accumulated deficit	(358,069)	(350,860)
Accumulated other comprehensive income	699	1,007
Total stockholders' deficit	(357,370)	(349,853)
Commitments and Contingencies
Total liabilities and stockholders' deficit	$ 284,818	$ 279,112