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Summit Materials (SUM)

Cover

Cover - shares3 Months Ended
Apr. 03, 2021May 07, 2021
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateApr. 3,
2021
Document Transition Reportfalse
Entity File Number001-36873
Entity Registrant NameSUMMIT MATERIALS, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number47-1984212
Entity Address, Address Line One1550 Wynkoop Street
Entity Address, Address Line Two3rd Floor
Entity Address, City or TownDenver
Entity Address, State or ProvinceCO
Entity Address, Postal Zip Code80202
City Area Code303
Local Phone Number893-0012
Title of 12(b) SecurityClass A Common Stock (par value $.01 per share)
Trading SymbolSUM
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Central Index Key0001621563
Amendment Flagfalse
Current Fiscal Year End Date--01-01
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Common Class A
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)117,362,411
Common Class B
Document Information [Line Items]
Entity common stock, shares outstanding (in shares)99
Summit Materials, LLC
Document Information [Line Items]
Entity File Number333-187556
Entity Registrant NameSUMMIT MATERIALS, LLC
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number26-4138486
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Central Index Key0001571371
Amendment Flagfalse
Current Fiscal Year End Date--01-01
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Current assets:
Cash and cash equivalents $ 359,741 $ 418,181
Accounts receivable, net250,058 254,696
Costs and estimated earnings in excess of billings17,124 8,666
Inventories210,934 200,308
Other current assets20,578 11,428
Total current assets858,435 893,279
Property, plant and equipment, less accumulated depreciation, depletion and amortization (April 3, 2021 - $1,170,071 and January 2, 2021 - $1,132,925)1,897,117 1,850,169
Goodwill1,201,426 1,201,291
Intangible assets, less accumulated amortization (April 3, 2021 - $12,502 and January 2, 2021 - $11,864)71,486 47,852
Deferred tax assets, less valuation allowance (April 3, 2021 - $1,675 and January 2, 2021 - $1,675)240,565 231,877
Operating lease right-of-use assets28,796 28,543
Other assets53,432 55,000
Total assets4,351,257 4,308,011
Current liabilities:
Current portion of debt6,354 6,354
Current portion of acquisition-related liabilities13,372 10,265
Accounts payable150,243 120,813
Accrued expenses130,338 160,570
Current operating lease liabilities7,480 8,188
Billings in excess of costs and estimated earnings13,930 16,499
Total current liabilities321,717 322,689
Long-term debt1,891,522 1,892,347
Acquisition-related liabilities31,015 12,246
Tax receivable agreement liability325,832 321,680
Noncurrent operating lease liabilities22,246 21,500
Other noncurrent liabilities144,365 121,281
Total liabilities2,736,697 2,691,743
Commitments and contingencies
Stockholders’ equity/Member's interest
Additional paid-in capital1,289,267 1,264,681
Accumulated earnings304,255 326,772
Accumulated other comprehensive income6,838 5,203
Stockholders’ equity1,601,527 1,597,801
Noncontrolling interest in Summit Holdings13,033 18,467
Total stockholders’ equity1,614,560 1,616,268
Total liabilities and stockholders’ equity/member's interest4,351,257 4,308,011
Summit Materials, LLC
Current assets:
Cash and cash equivalents359,741 418,181
Accounts receivable, net250,058 254,696
Costs and estimated earnings in excess of billings17,124 8,666
Inventories210,934 200,308
Other current assets20,578 11,428
Total current assets858,435 893,279
Property, plant and equipment, less accumulated depreciation, depletion and amortization (April 3, 2021 - $1,170,071 and January 2, 2021 - $1,132,925)1,897,117 1,850,169
Goodwill1,202,426 1,202,291
Intangible assets, less accumulated amortization (April 3, 2021 - $12,502 and January 2, 2021 - $11,864)71,486 47,852
Operating lease right-of-use assets28,796 28,543
Other assets53,432 55,000
Total assets4,111,692 4,077,134
Current liabilities:
Current portion of debt6,354 6,354
Current portion of acquisition-related liabilities13,372 7,827
Accounts payable150,854 121,422
Accrued expenses130,568 160,801
Current operating lease liabilities7,480 8,188
Billings in excess of costs and estimated earnings13,930 16,499
Total current liabilities322,558 321,091
Long-term debt1,891,522 1,892,347
Acquisition-related liabilities31,015 12,246
Noncurrent operating lease liabilities22,246 21,500
Other noncurrent liabilities188,880 167,182
Total liabilities2,456,221 2,414,366
Stockholders’ equity/Member's interest
Members' equity1,477,578 1,459,211
Accumulated earnings194,350 222,140
Accumulated other comprehensive income(16,457)(18,583)
Total member's interest1,655,471 1,662,768
Total liabilities and stockholders’ equity/member's interest4,111,692 4,077,134
Common Class A
Stockholders’ equity/Member's interest
Common stock1,167 1,145
Common Class B
Stockholders’ equity/Member's interest
Common stock $ 0 $ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Accumulated depreciation, depletion and amortization $ 1,170,071 $ 1,132,925
Accumulated amortization12,502 11,864
Valuation allowance1,675 1,675
Summit Materials, LLC
Accumulated depreciation, depletion and amortization1,170,071 1,132,925
Accumulated amortization $ 12,502 $ 11,864
Common Class A
Common stock, par value (usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares)1,000,000,000 1,000,000,000
Common stock, shares issued (in shares)116,644,332 114,390,595
Common stock, shares outstanding (in shares)116,644,332 114,390,595
Common Class B
Common stock, par value (usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares)250,000,000 250,000,000
Common stock, shares issued (in shares)99 99
Common stock, shares outstanding (in shares)99 99

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Revenue:
Revenue $ 427,844 $ 367,190
Cost of revenue (excluding items shown separately below):
Net cost of revenue346,694 317,363
General and administrative expenses51,642 41,686
Depreciation, depletion, amortization and accretion56,336 51,778
Gain on sale of property, plant and equipment(1,769)(1,917)
Operating loss(25,059)(41,720)
Interest expense24,186 27,818
Gain on sale of business(15,668)0
Other (income) loss, net(4,889)89
Loss from operations before taxes(28,688)(69,627)
Income tax benefit(5,443)(22,901)
Net loss(23,245)(46,726)
Net loss attributable to Summit Holdings(728)(1,747)
Net income (loss) attributable to Summit Inc/LLC(22,517)(44,979)
Summit Materials, LLC
Revenue:
Revenue427,844 367,190
Cost of revenue (excluding items shown separately below):
Net cost of revenue346,694 317,363
General and administrative expenses51,642 41,686
Depreciation, depletion, amortization and accretion56,336 51,778
Gain on sale of property, plant and equipment(1,769)(1,917)
Operating loss(25,059)(41,720)
Interest expense24,124 27,700
Gain on sale of business(15,668)0
Other (income) loss, net(4,889)89
Loss from operations before taxes(28,626)(69,509)
Income tax benefit(836)(5,884)
Net loss(27,790)(63,625)
Net income (loss) attributable to Summit Inc/LLC $ (27,790) $ (63,625)
Common Class A
Loss per share of Class A common stock:
Basic (usd per share) $ (0.19) $ (0.40)
Diluted (usd per share) $ (0.20) $ (0.40)
Weighted average shares of Class A common stock:
Basic (in shares)115,411,204 113,602,110
Diluted (in shares)115,411,204 113,602,110
Common Class A And Restricted Stock
Loss per share of Class A common stock:
Basic (usd per share) $ (0.19) $ (0.40)
Weighted average shares of Class A common stock:
Basic (in shares)115,664,725 113,602,110
Diluted (in shares)115,411,204 113,602,110
Product
Revenue:
Revenue $ 354,234 $ 305,307
Cost of revenue (excluding items shown separately below):
Net cost of revenue277,134 254,055
Product | Summit Materials, LLC
Revenue:
Revenue354,234 305,307
Cost of revenue (excluding items shown separately below):
Net cost of revenue277,134 254,055
Service
Revenue:
Revenue44,247 37,099
Cost of revenue (excluding items shown separately below):
Net cost of revenue40,197 38,524
Service | Summit Materials, LLC
Revenue:
Revenue44,247 37,099
Cost of revenue (excluding items shown separately below):
Net cost of revenue40,197 38,524
Excluding delivery and subcontract revenue
Revenue:
Revenue398,481 342,406
Cost of revenue (excluding items shown separately below):
Net cost of revenue317,331 292,579
Excluding delivery and subcontract revenue | Summit Materials, LLC
Revenue:
Revenue398,481 342,406
Cost of revenue (excluding items shown separately below):
Net cost of revenue317,331 292,579
Delivery and subcontract revenue
Revenue:
Revenue29,363 24,784
Cost of revenue (excluding items shown separately below):
Net cost of revenue29,363 24,784
Delivery and subcontract revenue | Summit Materials, LLC
Revenue:
Revenue29,363 24,784
Cost of revenue (excluding items shown separately below):
Net cost of revenue $ 29,363 $ 24,784

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Comprehensive income (loss)
Net loss $ (23,245) $ (46,726)
Other comprehensive income (loss):
Foreign currency translation adjustment2,126 (8,359)
Less tax effect of other comprehensive (loss) income items(446)2,046
Other comprehensive income (loss)1,680 (6,313)
Comprehensive loss(21,565)(53,039)
Less comprehensive loss attributable to Summit Holdings(683)(1,967)
Comprehensive loss attributable to Summit Inc.(20,882)(51,072)
Summit Materials, LLC
Comprehensive income (loss)
Net loss(27,790)(63,625)
Other comprehensive income (loss):
Foreign currency translation adjustment2,126 (8,359)
Other comprehensive income (loss)2,126 (8,359)
Comprehensive loss attributable to Summit Inc. $ (25,664) $ (71,984)

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Cash flow from operating activities:
Net loss $ (23,245) $ (46,726)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation, depletion, amortization and accretion59,107 55,278
Share-based compensation expense5,363 4,905
Net gain on asset and business disposals(15,964)(1,933)
Change in deferred tax asset, net(10,145)(24,194)
Other483 1,611
Decrease (increase) in operating assets, net of acquisitions and dispositions:
Accounts receivable, net4,946 19,939
Inventories(15,412)(26,979)
Costs and estimated earnings in excess of billings(8,442)1,710
Other current assets(9,209)(2,519)
Other assets2,504 5,543
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:
Accounts payable14,518 (2,712)
Accrued expenses(24,130)(20,776)
Billings in excess of costs and estimated earnings(2,578)245
Tax receivable agreement liability4,152 993
Other liabilities(3,266)(3,316)
Net cash used in operating activities(21,318)(38,931)
Cash flow from investing activities:
Purchases of property, plant and equipment(69,757)(61,829)
Proceeds from the sale of property, plant and equipment2,663 3,160
Proceeds from sale of business33,077 0
Other(483)1,801
Net cash used in investing activities(34,500)(56,868)
Cash flow from financing activities:
Payments on debt(10,170)(5,493)
Payments on acquisition-related liabilities(8,096)(9,515)
Proceeds from stock option exercises15,920 310
Other(416)(908)
Net cash used in financing activities(2,762)(15,606)
Impact of foreign currency on cash140 (800)
Net decrease in cash(58,440)(112,205)
Cash and cash equivalents—beginning of period418,181 311,319
Cash and cash equivalents—end of period359,741 199,114
Summit Materials, LLC
Cash flow from operating activities:
Net loss(27,790)(63,625)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation, depletion, amortization and accretion59,045 55,160
Share-based compensation expense5,363 4,905
Net gain on asset and business disposals(15,964)(1,933)
Change in deferred tax asset, net(1,386)(6,184)
Other483 1,611
Decrease (increase) in operating assets, net of acquisitions and dispositions:
Accounts receivable, net4,946 19,939
Inventories(15,412)(26,979)
Costs and estimated earnings in excess of billings(8,442)1,710
Other current assets(9,209)(2,519)
Other assets2,504 5,543
(Decrease) increase in operating liabilities, net of acquisitions and dispositions:
Accounts payable14,518 (2,712)
Accrued expenses(24,130)(20,776)
Billings in excess of costs and estimated earnings(2,578)245
Other liabilities(3,266)(3,316)
Net cash used in operating activities(21,318)(38,931)
Cash flow from investing activities:
Purchases of property, plant and equipment(69,757)(61,829)
Proceeds from the sale of property, plant and equipment2,663 3,160
Proceeds from sale of business33,077 0
Other(483)1,801
Net cash used in investing activities(34,500)(56,868)
Cash flow from financing activities:
Capital contributions by member15,920 310
Payments on debt(10,170)(5,493)
Payments on acquisition-related liabilities(5,596)(7,015)
Distributions from partnership(2,500)(2,500)
Other(416)(908)
Net cash used in financing activities(2,762)(15,606)
Impact of foreign currency on cash140 (800)
Net decrease in cash(58,440)(112,205)
Cash and cash equivalents—beginning of period418,181 311,319
Cash and cash equivalents—end of period $ 359,741 $ 199,114

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Changes in Stockholders' Equity / Members' Interest - USD ($) $ in ThousandsTotalSummit Materials, LLCCommon Class ACommon Class BMembers' equitySummit Materials, LLCAccumulated Earnings (Deficit)Accumulated Earnings (Deficit)Summit Materials, LLCAccumulated other comprehensive income (loss)Accumulated other comprehensive income (loss)Summit Materials, LLCCommon StockCommon Class ACommon StockCommon Class BAdditional Paid-in CapitalNoncontrolling Interest In Summit Holdings
Beginning balance at Dec. 28, 2019 $ 1,444,773 $ 188,805 $ 3,448 $ (20,971) $ 1,134 $ 0 $ 1,234,020 $ 17,366
Beginning balance at Dec. 28, 2019 $ 1,513,150 $ 1,432,718 $ 101,403 (20,971)
Beginning balance (in shares) at Dec. 28, 2019113,309,385 113,309,385 99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net contributed capital310 310
Net (loss) income(46,726)(63,625)(44,979)(63,625)(1,747)
LP Unit exchanges (in shares)196,542 196,542
LP Unit exchanges0 $ 2 1,132 (1,134)
Other comprehensive (loss) income, net of tax(6,313)(8,359)(6,093)(8,359)(220)
Distributions(2,500)(2,500)
Stock option exercises (in shares)13,335 13,335
Stock option exercises310 $ 0 310
Share-based compensation4,905 4,905 4,905 4,905
Shares redeemed to settle taxes and other (in shares)591,335 591,335
Shares redeemed to settle taxes and other(1,090)(908)(908) $ 6 (1,096)
Ending balance at Mar. 28, 20201,395,859 143,826 (2,645)(29,330) $ 1,142 $ 0 1,239,271 14,265
Ending balance at Mar. 28, 20201,442,973 1,434,525 37,778 (29,330)
Ending balance (in shares) at Mar. 28, 2020114,110,597 114,110,597 99
Beginning balance at Jan. 02, 20211,616,268 326,772 5,203 (18,583) $ 1,145 $ 0 1,264,681 18,467
Beginning balance at Jan. 02, 20211,662,768 1,459,211 222,140 (18,583)
Beginning balance (in shares) at Jan. 02, 2021114,390,595 99 114,390,595 99
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net contributed capital15,920 15,920
Net (loss) income(23,245)(27,790)(22,517)(27,790)(728)
LP Unit exchanges (in shares)711,794 711,794
LP Unit exchanges0 $ 7 4,744 (4,751)
Other comprehensive (loss) income, net of tax1,680 2,126 1,635 2,126 45
Distributions(2,500)(2,500)
Stock option exercises (in shares)863,338 863,338
Stock option exercises15,920 $ 9 15,911
Share-based compensation5,363 5,363 5,363 5,363
Shares redeemed to settle taxes and other (in shares)678,605 678,605
Shares redeemed to settle taxes and other(1,426)(416)(416) $ 6 (1,432)
Ending balance at Apr. 03, 2021 $ 1,614,560 $ 304,255 $ 6,838 (16,457) $ 1,167 $ 0 $ 1,289,267 $ 13,033
Ending balance at Apr. 03, 2021 $ 1,655,471 $ 1,477,578 $ 194,350 $ (16,457)
Ending balance (in shares) at Apr. 03, 2021116,644,332 99 116,644,332 99

SUMMARY OF ORGANIZATION AND SIG

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES3 Months Ended
Apr. 03, 2021
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIESSUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Summit Materials, Inc. (“Summit Inc.” and, together with its subsidiaries, “Summit,” “we,” “us,” “our” or the “Company”) is a vertically-integrated construction materials company. The Company is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company’s three operating and reporting segments are the West, East and Cement segments. Substantially all of the Company’s construction materials, products and services are produced, consumed and performed outdoors, primarily in the spring, summer and fall. Seasonal changes and other weather-related conditions can affect the production and sales volumes of its products and delivery of services. Therefore, the financial results for any interim period are typically not indicative of the results expected for the full year. Furthermore, the Company’s sales and earnings are sensitive to national, regional and local economic conditions, weather conditions and to cyclical changes in construction spending, among other factors. Summit Inc. is a holding corporation operating and controlling all of the business and affairs of Summit Materials Holdings L.P. (“Summit Holdings”) and its subsidiaries and, through Summit Holdings, conducts its business. Summit Inc. owns the majority of the partnership interests of Summit Holdings (see Note 9, Stockholders’ Equity). Summit Materials, LLC (“Summit LLC”) an indirect wholly owned subsidiary of Summit Holdings, conducts the majority of our operations. Summit Materials Finance Corp. (“Summit Finance”), an indirect wholly owned subsidiary of Summit LLC, has jointly issued our Senior Notes as described below. Basis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended January 2, 2021. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of April 3, 2021, the results of operations for the three months ended April 3, 2021 and March 28, 2020 and cash flows for the three months ended April 3, 2021 and March 28, 2020. Principles of Consolidation —The consolidated financial statements include the accounts of Summit Inc. and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated. For a summary of the changes in Summit Inc.’s ownership of Summit Holdings, see Note 9, Stockholders’ Equity. Use of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, tax receivable agreement ("TRA") liability, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs. Business and Credit Concentrations— The Company’s operations are conducted primarily across 21 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Utah, Kansas and Missouri. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company’s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company’s total revenue in the three months ended April 3, 2021 or March 28, 2020. Revenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products, and from the provision of services, which are primarily paving and related services. Products: Revenue for product sales is recognized when evidence of an arrangement exists and when control passes, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on the percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion. The percentage of completion method of accounting involves the use of various estimating techniques to project costs at completion, and in some cases includes estimates of recoveries asserted against the customer for changes in specifications or other disputes. Earnings per Share— The Company computes basic earnings per share attributable to stockholders by dividing income attributable to Summit Inc. by the weighted-average shares of Class A common stock outstanding. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in the Company’s earnings. Since the Class B common stock has no economic value, those shares are not included in the weighted-average common share amount for basic or diluted earnings per share. In addition, as the shares of Class A common stock are issued by Summit Inc., the earnings and equity interests of noncontrolling interests are not included in basic earnings per share. Prior Period Reclassifications — Beginning in the first quarter of 2021, we have reclassified $31.2 million of fixed overhead expenses related to production activities from general and administrative expenses to cost of revenue for the three months ended March 28, 2020 to conform to the current year presentation. In addition, we reclassified $1.9 million of gain on sale of property, plant and equipment from general and administrative expenses to a separate line item included within operating loss, also to conform to the current year presentation. Lastly, we reclassified $0.8 million of transaction costs from its own line item within operating loss into general and administrative expenses for the three months ended March 28, 2020 to conform to the current year presentation. We believe these reclassifications enhance the comparability of our financial statements to others in the industry and had no impact on previously reported operating income or Adjusted EBITDA, a non-GAAP measure described in note 14 below. New Accounting Standards — In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which reduces the accounting complexity of implementing a cloud computing service arrangement. The ASU aligns the capitalization of implementation costs among hosting arrangements and costs incurred to develop internal-use software. We adopted this ASU in the first quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework Changes to The Disclosure Requirements for Defined Benefits Plans , which modifies the disclosure requirements of employer-sponsored defined benefit and other postretirement benefits plans. The
Summit Materials, LLC
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIESSUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Summit Materials, LLC (“Summit LLC” and, together with its subsidiaries, “Summit,” “we,” “us,” “our” or the “Company”) is a vertically-integrated construction materials company. The Company is engaged in the production and sale of aggregates, cement, ready-mix concrete, asphalt paving mix and concrete products and owns and operates quarries, sand and gravel pits, two cement plants, cement distribution terminals, ready-mix concrete plants, asphalt plants and landfill sites. It is also engaged in paving and related services. The Company’s three operating and reporting segments are the West, East and Cement segments. Substantially all of the Company’s construction materials, products and services are produced, consumed and performed outdoors, primarily in the spring, summer and fall. Seasonal changes and other weather-related conditions can affect the production and sales volumes of its products and delivery of services. Therefore, the financial results for any interim period are typically not indicative of the results expected for the full year. Furthermore, the Company’s sales and earnings are sensitive to national, regional and local economic conditions, weather conditions and to cyclical changes in construction spending, among other factors. Summit LLC is a wholly owned indirect subsidiary of Summit Materials Holdings L.P. (“Summit Holdings”), whose primary owner is Summit Materials, Inc. (“Summit Inc.”). Summit Inc. was formed as a Delaware corporation on September 23, 2014. Its sole material asset is a controlling equity interest in Summit Holdings. Pursuant to a reorganization into a holding company structure (the “Reorganization”) consummated in connection with Summit Inc.’s March 2015 initial public offering, Summit Inc. became a holding corporation operating and controlling all of the business and affairs of Summit Holdings and its subsidiaries, including Summit LLC. Basis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as of and for the year ended January 2, 2021. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of April 3, 2021, the results of operations for the three months ended April 3, 2021 and March 28, 2020 and cash flows for the three months ended April 3, 2021 and March 28, 2020. Use of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs. Business and Credit Concentrations— The Company’s operations are conducted primarily across 21 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Utah, Kansas and Missouri. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company’s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company’s total revenue in the three months ended April 3, 2021 or March 28, 2020. Revenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products, and from the provision of services, which are primarily paving and related services. Products: Revenue for product sales is recognized when evidence of an arrangement exists and when control passes, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on the percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion. The percentage of completion method of accounting involves the use of various estimating techniques to project costs at completion, and in some cases includes estimates of recoveries asserted against the customer for changes in specifications or other disputes. Prior Period Reclassifications —Beginning in the first quarter of 2021, we have reclassified $31.2 million of fixed overhead expenses related to production activities from general and administrative expenses to cost of revenue for the three months ended March 28, 2020 to conform to the current year presentation. In addition, we reclassified $1.9 million of gain on sale of property, plant and equipment from general and administrative expenses to a separate line item included within operating loss, also to conform to the current year presentation. Lastly, we reclassified $0.8 million of transaction costs from its own line item within operating loss into general and administrative expenses for the three months ended March 28, 2020 to conform to the current year presentation. We believe these reclassifications enhance the comparability of our financial statements to others in the industry and had no impact on previously reported operating income or Adjusted EBITDA. New Accounting Standards— In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which reduces the accounting complexity of implementing a cloud computing service arrangement. The ASU aligns the capitalization of implementation costs among hosting arrangements and costs incurred to develop internal-use software. We adopted this ASU in the first quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework Changes to The Disclosure Requirements for Defined Benefits Plans, which modifies the disclosure requirements of employer-sponsored defined benefit and other postretirement benefits plans. The ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. We adopted this ASU in the fourth quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements.

ACQUISITIONS, DISPOSTIONS, GOOD

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES3 Months Ended
Apr. 03, 2021
Business Acquisition [Line Items]
ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLESACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLES The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding and available cash. The operations of each acquisition have been included in the Company’s consolidated results of operations since the respective closing dates of the acquisitions. The Company measures all assets acquired and liabilities assumed at their acquisition-date fair value. Goodwill acquired during a business combination has an indefinite life and is not amortized. Changes in the carrying amount of goodwill, by reportable segment, from January 2, 2021 to April 3, 2021 are summarized as follows: West East Cement Total Balance—January 2, 2021 $ 586,209 $ 410,426 $ 204,656 $ 1,201,291 Acquisitions (dispositions) (1) — (670) — (670) Foreign currency translation adjustments 805 — — 805 Balance—April 3, 2021 $ 587,014 $ 409,756 $ 204,656 $ 1,201,426 _______________________________________________________________________ (1) Reflects goodwill from acquisitions and dispositions completed during the three months ended April 3, 2021 and working capital adjustments from prior year acquisitions. The Company’s intangible assets subject to amortization are primarily composed of operating permits, mineral lease agreements and reserve rights. Operating permits relate to permitting and zoning rights acquired outside of a business combination. The assets related to mineral lease agreements reflect the submarket royalty rates paid under agreements, primarily for extracting aggregates. The values were determined as of the respective acquisition dates by a comparison of market-royalty rates. The reserve rights relate to aggregate reserves to which the Company has the rights of ownership, but does not own the reserves. The intangible assets are amortized on a straight-line basis over the lives of the leases or permits. The following table shows intangible assets by type and in total: April 3, 2021 January 2, 2021 Gross Accumulated Net Gross Accumulated Net Operating permits $ 33,671 $ (1,553) $ 32,118 $ 33,671 $ (1,207) $ 32,464 Mineral leases 19,225 (7,857) 11,368 19,225 (7,571) 11,654 Reserve rights 25,586 (2,710) 22,876 6,234 (2,504) 3,730 Other 5,506 (382) 5,124 586 (582) 4 Total intangible assets $ 83,988 $ (12,502) $ 71,486 $ 59,716 $ (11,864) $ 47,852 Amortization expense totaled $1.0 million and $0.7 million for the three months ended April 3, 2021 and March 28, 2020, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to April 3, 2021 is as follows: 2021 (nine months) $ 3,023 2022 4,091 2023 3,904 2024 3,809 2025 3,765 2026 3,620 Thereafter 49,274 Total $ 71,486 In the first quarter of 2021, as part of the Company's strategy to rationalize assets, the Company sold a business in the East segment, resulting in cash proceeds of $33.1 million and a total gain on disposition of $15.7 million.
Summit Materials, LLC
Business Acquisition [Line Items]
ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLESACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLES The Company has completed numerous acquisitions since its formation, which have been financed through a combination of debt and equity funding and available cash. The operations of each acquisition have been included in the Company’s consolidated results of operations since the respective closing dates of the acquisitions. The Company measures all assets acquired and liabilities assumed at their acquisition-date fair value. Goodwill acquired during a business combination has an indefinite life and is not amortized. Changes in the carrying amount of goodwill, by reportable segment, from January 2, 2021 to April 3, 2021 are summarized as follows: West East Cement Total Balance—January 2, 2021 $ 587,209 $ 410,426 $ 204,656 $ 1,202,291 Acquisitions (dispositions) (1) — (670) — (670) Foreign currency translation adjustments 805 — — 805 Balance—April 3, 2021 $ 588,014 $ 409,756 $ 204,656 $ 1,202,426 _______________________________________________________________________ (1) Reflects goodwill from acquisitions and dispositions completed during the three months ended April 3, 2021 and working capital adjustments from prior year acquisitions. The Company’s intangible assets subject to amortization are primarily composed of operating permits, mineral lease agreements and reserve rights. Operating permits relate to permitting and zoning rights acquired outside of a business combination. The assets related to mineral lease agreements reflect the submarket royalty rates paid under agreements, primarily for extracting aggregates. The values were determined as of the respective acquisition dates by a comparison of market-royalty rates. The reserve rights relate to aggregate reserves to which the Company has the rights of ownership, but does not own the reserves. The intangible assets are amortized on a straight-line basis over the lives of the leases or permits. The following table shows intangible assets by type and in total: April 3, 2021 January 2, 2021 Gross Accumulated Net Gross Accumulated Net Operating permits $ 33,671 $ (1,553) $ 32,118 $ 33,671 $ (1,207) $ 32,464 Mineral leases 19,225 (7,857) 11,368 19,225 (7,571) 11,654 Reserve rights 25,586 (2,710) 22,876 6,234 (2,504) 3,730 Other 5,506 (382) 5,124 586 (582) 4 Total intangible assets $ 83,988 $ (12,502) $ 71,486 $ 59,716 $ (11,864) $ 47,852 Amortization expense totaled $1.0 million and $0.7 million for the three months ended April 3, 2021 and March 28, 2020, respectively. The estimated amortization expense for the intangible assets for each of the five years subsequent to April 3, 2021 is as follows: 2021 (nine months) $ 3,023 2022 4,091 2023 3,904 2024 3,809 2025 3,765 2026 3,620 Thereafter 49,274 Total $ 71,486 In the first quarter of 2021, as part of the Company's strategy to rationalize assets, the Company sold a business in the East segment, resulting in cash proceeds of $33.1 million and a total gain on disposition of $15.7 million.

REVENUE RECOGNITION

REVENUE RECOGNITION3 Months Ended
Apr. 03, 2021
Revenue from External Customer [Line Items]
REVENUE RECOGNITIONREVENUE RECOGNITION We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide. Revenue by product for the three months ended April 3, 2021 and March 28, 2020 is as follows: Three months ended April 3, 2021 March 28, 2020 Revenue by product*: Aggregates $ 117,388 $ 96,161 Cement 38,139 32,863 Ready-mix concrete 158,233 141,704 Asphalt 28,375 23,206 Paving and related services 43,215 33,426 Other 42,494 39,830 Total revenue $ 427,844 $ 367,190 *Revenue from liquid asphalt terminals is included in asphalt revenue. Accounts receivable, net consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Trade accounts receivable $ 212,825 $ 191,871 Construction contract receivables 24,795 47,179 Retention receivables 15,080 18,824 Receivables from related parties 1,569 1,339 Accounts receivable 254,269 259,213 Less: Allowance for doubtful accounts (4,211) (4,517) Accounts receivable, net $ 250,058 $ 254,696 Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.
Summit Materials, LLC
Revenue from External Customer [Line Items]
REVENUE RECOGNITIONREVENUE RECOGNITION We derive our revenue predominantly by selling construction materials, products and providing paving and related services. Construction materials consist of aggregates and cement. Products consist of related downstream products, including ready-mix concrete, asphalt paving mix and concrete products. Paving and related service revenue is generated primarily from the asphalt paving services that we provide. Revenue by product for the three months ended April 3, 2021 and March 28, 2020 is as follows: Three months ended April 3, 2021 March 28, 2020 Revenue by product*: Aggregates $ 117,388 $ 96,161 Cement 38,139 32,863 Ready-mix concrete 158,233 141,704 Asphalt 28,375 23,206 Paving and related services 43,215 33,426 Other 42,494 39,830 Total revenue $ 427,844 $ 367,190 *Revenue from liquid asphalt terminals is included in asphalt revenue. Accounts receivable, net consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Trade accounts receivable $ 212,825 $ 191,871 Construction contract receivables 24,795 47,179 Retention receivables 15,080 18,824 Receivables from related parties 1,569 1,339 Accounts receivable 254,269 259,213 Less: Allowance for doubtful accounts (4,211) (4,517) Accounts receivable, net $ 250,058 $ 254,696 Retention receivables are amounts earned by the Company but held by customers until paving and related service contracts and projects are near completion or fully completed. Amounts are generally billed and collected within one year.

INVENTORIES

INVENTORIES3 Months Ended
Apr. 03, 2021
Inventory [Line Items]
INVENTORIESINVENTORIES Inventories consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Aggregate stockpiles $ 137,595 $ 137,938 Finished goods 39,331 32,993 Work in process 7,186 9,281 Raw materials 26,822 20,096 Total $ 210,934 $ 200,308
Summit Materials, LLC
Inventory [Line Items]
INVENTORIESINVENTORIES Inventories consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Aggregate stockpiles $ 137,595 $ 137,938 Finished goods 39,331 32,993 Work in process 7,186 9,281 Raw materials 26,822 20,096 Total $ 210,934 $ 200,308

ACCRUED EXPENSES

ACCRUED EXPENSES3 Months Ended
Apr. 03, 2021
Schedule Of Accrued Expenses [Line Items]
ACCRUED EXPENSESACCRUED EXPENSES Accrued expenses consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Interest $ 14,292 $ 21,860 Payroll and benefits 25,459 46,026 Finance lease obligations 21,271 24,601 Insurance 20,083 18,355 Non-income taxes 18,566 15,669 Deferred asset purchase payments 3,788 9,749 Professional fees 1,006 828 Other (1) 25,873 23,482 Total $ 130,338 $ 160,570 (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.
Summit Materials, LLC
Schedule Of Accrued Expenses [Line Items]
ACCRUED EXPENSESACCRUED EXPENSES Accrued expenses consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Interest $ 14,292 $ 21,860 Payroll and benefits 25,459 46,026 Finance lease obligations 21,271 24,601 Insurance 20,083 18,355 Non-income taxes 18,796 15,900 Deferred asset purchase payments 3,788 9,749 Professional fees 1,006 828 Other (1) 25,873 23,482 Total $ 130,568 $ 160,801 _______________________________________________________________________ (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.

DEBT

DEBT3 Months Ended
Apr. 03, 2021
Debt Instrument [Line Items]
DEBTDEBT Debt consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Term Loan, due 2024: $614.7 million and $616.3 million, net of $0.8 million and $0.9 million discount at April 3, 2021 and January 2, 2021, respectively $ 613,894 $ 615,425 5 1 ⁄ 8 % Senior Notes, due 2025 300,000 300,000 6 1 ⁄ 2 % Senior Notes, due 2027 300,000 300,000 5 1 ⁄ 4 % Senior Notes, due 2029 700,000 700,000 Total 1,913,894 1,915,425 Current portion of long-term debt 6,354 6,354 Long-term debt $ 1,907,540 $ 1,909,071 The contractual payments of long-term debt, including current maturities, for the five years subsequent to April 3, 2021, are as follows: 2021 (nine months) $ 4,765 2022 6,353 2023 6,354 2024 597,253 2025 300,000 2026 — Thereafter 1,000,000 Total 1,914,725 Less: Original issue net discount (831) Less: Capitalized loan costs (16,018) Total debt $ 1,897,876 Senior Notes —On August 11, 2020, Summit LLC and Summit Finance (together, the “Issuers”) issued $700.0 million in aggregate principal amount of 5.250% senior notes due January 15, 2029 (the “2029 Notes”). The 2029 Notes were issued at 100.0% of their par value with proceeds of $690.4 million, net of related fees and expenses. The 2029 Notes were issued under an indenture dated August 11, 2020 (the "2020 Indenture"). The 2020 Indenture contains covenants limiting, among other things, Summit LLC and its restricted subsidiaries’ ability to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. The 2020 Indenture also contains customary events of default. Interest on the 2029 Notes is payable semi-annually on January 15 and July 15 of each year commencing on January 15, 2021. On March 15, 2019, the Issuers issued $300.0 million in aggregate principal amount of 6.500% senior notes due March 15, 2027 (the “2027 Notes”). The 2027 Notes were issued at 100.0% of their par value with proceeds of $296.3 million, net of related fees and expenses. The 2027 Notes were issued under an indenture dated March 25, 2019, the terms of which are generally consistent with the 2020 Indenture. Interest on the 2027 Notes is payable semi-annually on March 15 and September 15 of each year commencing on September 15, 2019. In 2017, the Issuers issued $300.0 million of 5.125% senior notes due June 1, 2025 (the “2025 Notes”). The 2025 Notes were issued at 100.0% of their par value with proceeds of $295.4 million, net of related fees and expenses. The 2025 Notes were issued under an indenture dated June 1, 2017, the terms of which are generally consistent with the 2020 Indenture. Interest on the 2025 Notes is payable semi-annually on June 1 and December 1 of each year commencing on December 1, 2017. As of April 3, 2021 and January 2, 2021, the Company was in compliance with all financial covenants under the applicable indentures. Senior Secured Credit Facilities — Summit LLC has credit facilities that provide for term loans in an aggregate amount of $650.0 million and revolving credit commitments in an aggregate amount of $345.0 million (the “Senior Secured Credit Facilities”). Under the Senior Secured Credit Facilities, required principal repayments of 0.25% of the refinanced aggregate amount of term debt are due on the last business day of each March, June, September and December commencing with the March 2018 payment. The unpaid principal balance is due in full on the maturity date, which is November 21, 2024. The revolving credit facility bears interest per annum equal to, at Summit LLC’s option, either (i) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate of Bank of America, N.A. and (c) LIBOR plus 1.00%, plus an applicable margin of 2.00% for base rate loans or (ii) a LIBOR rate determined by reference to Reuters prior to the interest period relevant to such borrowing adjusted for certain additional costs plus an applicable margin of 3.00% for LIBOR rate loans. The maturity date with respect to revolving credit commitments under the revolving credit facility is February 25, 2024. There were no outstanding borrowings under the revolving credit facility as of April 3, 2021 and January 2, 2021, with borrowing capacity of $329.1 million remaining as of April 3, 2021, which is net of $15.9 million of outstanding letters of credit. The outstanding letters of credit are renewed annually and support required bonding on construction projects, large leases, workers compensation claims and the Company’s insurance liabilities. Summit LLC’s Consolidated First Lien Net Leverage Ratio, as such term is defined in the Credit Agreement, should be no greater than 4.75:1.0 as of each quarter-end. As of April 3, 2021 and January 2, 2021, Summit LLC was in compliance with all financial covenants. Summit LLC’s wholly-owned domestic subsidiary companies, subject to certain exclusions and exceptions, are named as subsidiary guarantors of the Senior Notes and the Senior Secured Credit Facilities. In addition, Summit LLC has pledged substantially all of its assets as collateral, subject to certain exclusions and exceptions, for the Senior Secured Credit Facilities. The following table presents the activity for the deferred financing fees for the three months ended April 3, 2021 and March 28, 2020: Deferred financing fees Balance—January 2, 2021 $ 18,367 Amortization (836) Balance—April 3, 2021 $ 17,531 Balance—December 28, 2019 $ 15,436 Amortization (833) Balance—March 28, 2020 $ 14,603 Other —On January 15, 2015, the Company’s wholly-owned subsidiary in British Columbia, Canada entered into an agreement with HSBC Bank Canada for a (i) $6.0 million Canadian dollar (“CAD”) revolving credit commitment to be used for operating activities that bears interest per annum equal to the bank’s prime rate plus 0.20%, (ii) $0.5 million CAD revolving credit commitment to be used for capital equipment that bears interest per annum at the bank’s prime rate plus 0.90% and (iii) $0.3 million CAD revolving credit commitment to provide guarantees on behalf of that subsidiary. There were no amounts outstanding under this agreement as of April 3, 2021 or January 2, 2021.
Summit Materials, LLC
Debt Instrument [Line Items]
DEBTDEBT Debt consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Term Loan, due 2024: $614.7 million and $616.3 million, net of $0.8 million and $0.9 million discount at April 3, 2021 and January 2, 2021, respectively $ 613,894 $ 615,425 5 1/8 % Senior Notes, due 2025 300,000 300,000 6 1/2 % Senior Notes, due 2027 300,000 300,000 5 1/4 % Senior Notes, due 2029 700,000 700,000 Total 1,913,894 1,915,425 Current portion of long-term debt 6,354 6,354 Long-term debt $ 1,907,540 $ 1,909,071 The contractual payments of long-term debt, including current maturities, for the five years subsequent to April 3, 2021, are as follows: 2021 (nine months) $ 4,765 2022 6,353 2023 6,354 2024 597,253 2025 300,000 2026 — Thereafter 1,000,000 Total 1,914,725 Less: Original issue net discount (831) Less: Capitalized loan costs (16,018) Total debt $ 1,897,876 Senior Notes —On August 11, 2020, Summit LLC and Summit Finance (together, the “Issuers”) issued $700.0 million in aggregate principal amount of 5.250% senior notes due January 15, 2029 (the “2029 Notes”). The 2029 Notes were issued at 100.0% of their par value with proceeds of $690.4 million, net of related fees and expenses. The 2029 Notes were issued under an indenture dated August 11, 2020 (the "2020 Indenture"). The 2020 Indenture contains covenants limiting, among other things, Summit LLC and its restricted subsidiaries’ ability to incur additional indebtedness or issue certain preferred shares, pay dividends, redeem stock or make other distributions, make certain investments, sell or transfer certain assets, create liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets, enter into certain transactions with affiliates, and designate subsidiaries as unrestricted subsidiaries. The 2020 Indenture also contains customary events of default. Interest on the 2029 Notes is payable semi-annually on January 15 and July 15 of each year commencing on January 15, 2021. On March 15, 2019, the Issuers issued $300.0 million in aggregate principal amount of 6.500% senior notes due March 15, 2027 (the “2027 Notes”). The 2027 Notes were issued at 100.0% of their par value with proceeds of $296.3 million, net of related fees and expenses. The 2027 Notes were issued under an indenture dated March 25, 2019, the terms of which are generally consistent with the 2020 Indenture. Interest on the 2027 Notes is payable semi-annually on March 15 and September 15 of each year commencing on September 15, 2019. In 2017, the Issuers issued $300.0 million of 5.125% senior notes due June 1, 2025 (the “2025 Notes”). The 2025 Notes were issued at 100.0% of their par value with proceeds of $295.4 million, net of related fees and expenses. The 2025 Notes were issued under an indenture dated June 1, 2017, the terms of which are generally consistent with the 2020 Indenture. Interest on the 2025 Notes is payable semi-annually on June 1 and December 1 of each year commencing on December 1, 2017. As of April 3, 2021 and January 2, 2021, the Company was in compliance with all financial covenants under the applicable indentures. Senior Secured Credit Facilities — Summit LLC has credit facilities that provide for term loans in an aggregate amount of $650.0 million and revolving credit commitments in an aggregate amount of $345.0 million (the “Senior Secured Credit Facilities”). Under the Senior Secured Credit Facilities, required principal repayments of 0.25% of the refinanced aggregate amount of term debt are due on the last business day of each March, June, September and December commencing with the March 2018 payment. The unpaid principal balance is due in full on the maturity date, which is November 21, 2024. The revolving credit facility bears interest per annum equal to, at Summit LLC’s option, either (i) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate of Bank of America, N.A. and (c) LIBOR plus 1.00%, plus an applicable margin of 2.00% for base rate loans or (ii) a LIBOR rate determined by reference to Reuters prior to the interest period relevant to such borrowing adjusted for certain additional costs plus an applicable margin of 3.00% for LIBOR rate loans. The maturity date with respect to revolving credit commitments under the revolving credit facility is February 25, 2024. There were no outstanding borrowings under the revolving credit facility as of April 3, 2021 and January 2, 2021, with borrowing capacity of $329.1 million remaining as of April 3, 2021, which is net of $15.9 million of outstanding letters of credit. The outstanding letters of credit are renewed annually and support required bonding on construction projects, large leases, workers compensation claims and the Company’s insurance liabilities. Summit LLC’s Consolidated First Lien Net Leverage Ratio, as such term is defined in the Credit Agreement, should be no greater than 4.75:1.0 as of each quarter-end. As of April 3, 2021 and January 2, 2021, Summit LLC was in compliance with all financial covenants. Summit LLC’s wholly-owned domestic subsidiary companies, subject to certain exclusions and exceptions, are named as subsidiary guarantors of the Senior Notes and the Senior Secured Credit Facilities. In addition, Summit LLC has pledged substantially all of its assets as collateral, subject to certain exclusions and exceptions, for the Senior Secured Credit Facilities. The following table presents the activity for the deferred financing fees for the three months ended April 3, 2021 and March 28, 2020: Deferred financing fees Balance—January 2, 2021 $ 18,367 Amortization (836) Balance—April 3, 2021 $ 17,531 Balance - December 28, 2019 $ 15,436 Amortization (833) Balance - March 28, 2020 $ 14,603 Other —On January 15, 2015, the Company’s wholly-owned subsidiary in British Columbia, Canada entered into an agreement with HSBC Bank Canada for a (i) $6.0 million Canadian dollar (“CAD”) revolving credit commitment to be used for operating activities that bears interest per annum equal to the bank’s prime rate plus 0.20%, (ii) $0.5 million CAD revolving credit commitment to be used for capital equipment that bears interest per annum at the bank’s prime rate plus 0.90% and (iii) $0.3 million CAD revolving credit commitment to provide guarantees on behalf of that subsidiary. There were no amounts outstanding under this agreement as of April 3, 2021 or January 2, 2021.

INCOME TAXES

INCOME TAXES3 Months Ended
Apr. 03, 2021
Income Taxes [Line Items]
INCOME TAXESINCOME TAXES Summit Inc.’s tax provision includes its proportional share of Summit Holdings’ tax attributes. Summit Holdings’ subsidiaries are primarily limited liability companies but do include certain entities organized as C corporations and a Canadian subsidiary. The tax attributes related to the limited liability companies are passed on to Summit Holdings and then to its partners, including Summit Inc. The tax attributes associated with the C corporation and Canadian subsidiaries are fully reflected in the Company’s accounts. Our income tax benefit was $5.4 million and $22.9 million in the three months ended April 3, 2021 and March 28, 2020, respectively. The effective tax rate for Summit Inc. differs from the federal statutory tax rate primarily due to (1) unrecognized tax benefits in 2020, (2) state taxes, (3) tax depletion expense in excess of the expense recorded under U.S. GAAP, (4) the minority interest in the Summit Holdings partnership that is allocated outside of the Company and (5) various other items such as limitations on meals and entertainment, certain stock compensation and other costs. In the first quarter of 2020, we recorded the impact of the Coronavirus Aid, Relief and Economic Stability Act ("CARES Act") enacted into law in late March 2020, which reduced our unrecognized tax benefits by approximately $9.5 million. As of April 3, 2021 and January 2, 2021, Summit Inc. had a valuation allowance of $1.7 million, which relates to certain deferred tax assets in taxable entities where realization is not more likely than not. No material interest or penalties were recognized in income tax expense during the three months ended April 3, 2021 and March 28, 2020. Tax Receivable Agreement —The Company is party to a TRA with certain current and former holders of LP Units that provides for the payment by Summit Inc. to exchanging holders of LP Units of 85% of the benefits, if any, that Summit Inc. actually realizes (or, under certain circumstances such as an early termination of the TRA, is deemed to realize) as a result of increases in the tax basis of tangible and intangible assets of Summit Holdings and certain other tax benefits related to entering into the TRA, including tax benefits attributable to payments under the TRA. In the three months ended April 3, 2021, 711,794 LP Units were acquired by Summit Inc. in exchange for an equal number of newly-issued shares of Summit Inc.’s Class A common stock. These exchanges resulted in net new deferred tax assets of approximately $4.9 million. As we determined that the deferred tax assets created from these exchanges are realizable and payment under the TRA is considered probable, we have recorded 85% of the increase in deferred tax assets as TRA liability and the remainder as an adjustment to additional paid in capital. As of April 3, 2021 and January 2, 2021, we had recorded $325.8 million and $321.7 million of TRA liability, respectively. Tax Distributions – The holders of Summit Holdings’ LP Units, including Summit Inc., incur U.S. federal, state and local income taxes on their share of any taxable income of Summit Holdings. The limited partnership agreement of Summit Holdings provides for pro rata cash distributions (“tax distributions”) to the holders of the LP Units in an amount generally
Summit Materials, LLC
Income Taxes [Line Items]
INCOME TAXESINCOME TAXES Summit LLC is a limited liability company and passes its tax attributes for federal and state tax purposes to its parent company and is generally not subject to federal or state income tax. However, certain subsidiary entities file federal, state and Canadian income tax returns due to their status as taxable entities in the respective jurisdiction. The effective income tax rate for the C Corporations differs from the statutory federal rate primarily due to (1) tax depletion expense in excess of the expense recorded under U.S. GAAP, (2) state income taxes and the effect of graduated tax rates and (3) various other items, such as limitations on meals and entertainment and other costs. The effective income tax rate for the Canadian subsidiary is not significantly different from its historical effective tax rate. No material interest or penalties were recognized in income tax expense during the three months ended April 3, 2021 and March 28, 2020. We recognized uncertain tax benefits in the three months ended March 28, 2020 related to the passage of the Coronavirus Aid, Relief and Economic Stability Act (“CARES Act”) on March 25, 2020.

EARNINGS PER SHARE

EARNINGS PER SHARE3 Months Ended
Apr. 03, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHAREEARNINGS PER SHARE Basic earnings per share is computed by dividing net earnings by the weighted average common shares outstanding and diluted net earnings is computed by dividing net earnings, adjusted for changes in the earnings allocated to Summit Inc. as a result of the assumed conversion of LP Units, by the weighted-average common shares outstanding assuming dilution. The following table shows the calculation of basic and diluted earnings per share: Three months ended April 3, 2021 March 28, 2020 Net loss attributable to Summit Inc. $ (22,517) $ (44,979) Weighted average shares of Class A stock outstanding Add: Nonvested restricted stock awards of retirement eligible shares 253,521 — Add: Weighted average shares of Class A stock outstanding 115,411,204 113,602,110 Weighted average basic shares outstanding 115,664,725 113,602,110 Basic loss per share $ (0.19) $ (0.40) Diluted net loss attributable to Summit Inc. $ (22,517) $ (44,979) Weighted average shares of Class A stock outstanding 115,411,204 113,602,110 Add: weighted average of LP Units — — Add: stock options — — Add: warrants — — Add: restricted stock units — — Add: performance stock units — — Weighted average dilutive shares outstanding 115,411,204 113,602,110 Diluted loss per share $ (0.20) $ (0.40) Excluded from the above calculations were the shares noted below as they were antidilutive: Three months ended April 3, 2021 March 28, 2020 Antidilutive shares: LP Units 2,613,209 3,154,228 Time-vesting stock options 1,175,135 2,109,465 Warrants 43,166 100,037 Time-vesting restricted stock units 1,894,877 1,666,365 Market-based restricted stock units 410,357 446,670

STOCKHOLDERS' EQUITY_MEMBERS' I

STOCKHOLDERS' EQUITY/MEMBERS' INTEREST3 Months Ended
Apr. 03, 2021
Schedule of Capitalization, Equity [Line Items]
STOCKHOLDERS' EQUITYSTOCKHOLDERS’ EQUITYDuring 2021 and 2020, certain limited partners of Summit Holdings exchanged their LP Units for shares of Class A common stock of Summit Inc. The following table summarizes the changes in our ownership of Summit Holdings: Summit Inc. LP Units Total Summit Inc. Balance — January 2, 2021 114,390,595 2,873,170 117,263,765 97.5 % Exchanges during period 711,794 (711,794) — Stock option exercises 863,338 — 863,338 Other equity transactions 678,605 — 678,605 Balance — April 3, 2021 116,644,332 2,161,376 118,805,708 98.2 % Balance — December 28, 2019 113,309,385 3,249,657 116,559,042 97.2 % Exchanges during period 196,542 (196,542) — Stock option exercises 13,335 — 13,335 Other equity transactions 591,335 — 591,335 Balance — March 28, 2020 114,110,597 3,053,115 117,163,712 97.4 % Summit Inc. is Summit Holdings’ primary beneficiary and thus consolidates Summit Holdings in its consolidated financial statements with a corresponding noncontrolling interest reclassification, which was 1.8% and 2.5% as of April 3, 2021 and January 2, 2021, respectively. Accumulated other comprehensive income (loss) —The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Change in Foreign currency Accumulated Balance — January 2, 2021 $ 533 $ 4,670 $ 5,203 Foreign currency translation adjustment, net of tax — 1,635 1,635 Balance — April 3, 2021 $ 533 $ 6,305 $ 6,838 Balance — December 28, 2019 $ 2,171 $ 1,277 $ 3,448 Foreign currency translation adjustment, net of tax — (6,093) (6,093) Balance — March 28, 2020 $ 2,171 $ (4,816) $ (2,645)
Summit Materials, LLC
Schedule of Capitalization, Equity [Line Items]
MEMBERS' INTERESTMEMBERS’ INTEREST Accumulated other comprehensive income (loss) —The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Accumulated Foreign currency other Change in translation comprehensive retirement plans adjustments (loss) income Balance — January 2, 2021 $ (8,546) $ (10,037) $ (18,583) Foreign currency translation adjustment — 2,126 2,126 Balance — April 3, 2021 $ (8,546) $ (7,911) $ (16,457) Balance — December 28, 2019 $ (6,317) $ (14,654) $ (20,971) Foreign currency translation adjustment — (8,359) (8,359) Balance — March 28, 2020 $ (6,317) $ (23,013) $ (29,330)

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION3 Months Ended
Apr. 03, 2021
Schedule Of Cash Flow Supplemental [Line Items]
SUPPLEMENTAL CASH FLOW INFORMATIONSUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information is as follows: Three months ended April 3, 2021 March 28, 2020 Cash payments: Interest $ 29,476 $ 36,310 Payments (refunds) for income taxes, net 2,312 (298) Operating cash payments on operating leases 2,928 2,948 Operating cash payments on finance leases 655 794 Finance cash payments on finance leases 5,834 3,883 Non cash financing activities: Right of use assets obtained in exchange for operating lease obligations $ 3,081 $ 577 Right of use assets obtained in exchange for finance leases obligations 588 6,267 Exchange of LP Units to shares of Class A common stock 19,784 4,648
Summit Materials, LLC
Schedule Of Cash Flow Supplemental [Line Items]
SUPPLEMENTAL CASH FLOW INFORMATIONSUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information is as follows: Three months ended April 3, 2021 March 28, 2020 Cash payments: Interest $ 29,476 $ 36,310 Payments (refunds) for income taxes, net 2,312 (298) Operating cash payments on operating leases 2,928 2,948 Operating cash payments on finance leases 655 794 Finance cash payments on finance leases 5,834 3,883 Non cash financing activities: Right of use assets obtained in exchange for operating lease obligations $ 3,081 $ 577 Right of use assets obtained in exchange for finance leases obligations 588 6,267

LEASES

LEASES3 Months Ended
Apr. 03, 2021
Lessee, Lease, Description [Line Items]
LEASESLEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
LEASESLEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Summit Materials, LLC
Lessee, Lease, Description [Line Items]
LEASESLEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
LEASESLEASES We lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment. Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES3 Months Ended
Apr. 03, 2021
Loss Contingencies [Line Items]
COMMITMENTS AND CONTINGENCIESCOMMITMENTS AND CONTINGENCIES The Company is party to certain legal actions arising from the ordinary course of business activities. Accruals are recorded when the outcome is probable and can be reasonably estimated. While the ultimate results of claims and litigation cannot be predicted with certainty, management expects that the ultimate resolution of all current pending or threatened claims and litigation will not have a material effect on the Company’s consolidated financial position, results of operations or liquidity. The Company records legal fees as incurred. In March 2018, we were notified of an investigation by the Canadian Competition Bureau (the “CCB”) into pricing practices by certain asphalt paving contractors in British Columbia, including Winvan Paving, Ltd. (“Winvan”). We believe the investigation is focused on time periods prior to our April 2017 acquisition of Winvan and we are cooperating with the CCB. Although we currently do not believe this matter will have a material adverse effect on our business, financial condition or results of operations, we are currently not able to predict the ultimate outcome or cost of the investigation. Environmental Remediation and Site Restoration —The Company’s operations are subject to and affected by federal, state, provincial and local laws and regulations relating to the environment, health and safety and other regulatory matters. These operations require environmental operating permits, which are subject to modification, renewal and revocation. The Company regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Company’s business, as it is with other companies engaged in similar businesses and there can be no assurance that environmental liabilities or noncompliance will not have a material adverse effect on the Company’s consolidated financial condition, results of operations or liquidity. The Company has asset retirement obligations arising from regulatory and contractual requirements to perform reclamation activities at the time certain quarries and landfills are closed. As of April 3, 2021 and January 2, 2021, $32.0 million and $33.6 million, respectively, were included in other noncurrent liabilities on the consolidated balance sheets and $11.5 million and $10.0 million, respectively, were included in accrued expenses for future reclamation costs. The total undiscounted anticipated costs for site reclamation as of April 3, 2021 and January 2, 2021 were $110.5 million and $112.8 million, respectively. Other —The Company is obligated under various firm purchase commitments for certain raw materials and services that are in the ordinary course of business. Management does not expect any significant changes in the market value of these goods and services during the commitment period that would have a material adverse effect on the financial condition, results of operations and cash flows of the Company. The terms of the purchase commitments generally approximate one year.
Summit Materials, LLC
Loss Contingencies [Line Items]
COMMITMENTS AND CONTINGENCIESCOMMITMENTS AND CONTINGENCIES The Company is party to certain legal actions arising from the ordinary course of business activities. Accruals are recorded when the outcome is probable and can be reasonably estimated. While the ultimate results of claims and litigation cannot be predicted with certainty, management expects that the ultimate resolution of all current pending or threatened claims and litigation will not have a material effect on the Company’s consolidated financial position, results of operations or liquidity. The Company records legal fees as incurred. In March 2018, we were notified of an investigation by the Canadian Competition Bureau (the “CCB”) into pricing practices by certain asphalt paving contractors in British Columbia, including Winvan Paving, Ltd. (“Winvan”). We believe the investigation is focused on time periods prior to our April 2017 acquisition of Winvan and we are cooperating with the CCB. Although we currently do not believe this matter will have a material adverse effect on our business, financial condition or results of operations, we are currently not able to predict the ultimate outcome or cost of the investigation. Environmental Remediation and Site Restoration —The Company’s operations are subject to and affected by federal, state, provincial and local laws and regulations relating to the environment, health and safety and other regulatory matters. These operations require environmental operating permits, which are subject to modification, renewal and revocation. The Company regularly monitors and reviews its operations, procedures and policies for compliance with these laws and regulations. Despite these compliance efforts, risk of environmental liability is inherent in the operation of the Company’s business, as it is with other companies engaged in similar businesses and there can be no assurance that environmental liabilities or noncompliance will not have a material adverse effect on the Company’s consolidated financial condition, results of operations or liquidity. The Company has asset retirement obligations arising from regulatory and contractual requirements to perform reclamation activities at the time certain quarries and landfills are closed. As of April 3, 2021 and January 2, 2021, $32.0 million and $33.6 million, respectively, were included in other noncurrent liabilities on the consolidated balance sheets and $11.5 million and $10.0 million, respectively, were included in accrued expenses for future reclamation costs. The total undiscounted anticipated costs for site reclamation as of April 3, 2021 and January 2, 2021 were $110.5 million and $112.8 million, respectively. Other —The Company is obligated under various firm purchase commitments for certain raw materials and services that are in the ordinary course of business. Management does not expect any significant changes in the market value of these goods and services during the commitment period that would have a material adverse effect on the financial condition, results of operations and cash flows of the Company. The terms of the purchase commitments generally approximate one year.

FAIR VALUE

FAIR VALUE3 Months Ended
Apr. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FAIR VALUEFAIR VALUE Fair Value Measurements— Certain acquisitions made by the Company require the payment of contingent amounts of purchase consideration. These payments are contingent on specified operating results being achieved in periods subsequent to the acquisition and will only be made if earn-out thresholds are achieved. Contingent consideration obligations are measured at fair value each reporting period. Any adjustments to fair value are recognized in earnings in the period identified. The fair value of contingent consideration as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 654 $ 654 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 1,120 $ 1,209 The fair value of contingent consideration was based on unobservable, or Level 3, inputs, including projected probability-weighted cash payments and a 9.5% discount rate, which reflects a market discount rate. Changes in fair value may occur as a result of a change in actual or projected cash payments, the probability weightings applied by the Company to projected payments or a change in the discount rate. Significant increases or decreases in any of these inputs in isolation could result in a lower, or higher, fair value measurement. There were no material valuation adjustments to contingent consideration as of April 3, 2021 and March 28, 2020. Financial Instruments —The Company’s financial instruments include debt and certain acquisition-related liabilities (deferred consideration and noncompete obligations). The carrying value and fair value of these financial instruments as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 1,960,901 $ 1,913,894 $ 1,971,087 $ 1,915,425 Level 3 Current portion of deferred consideration and noncompete obligations(2) 12,718 12,718 9,611 9,611 Long term portion of deferred consideration and noncompete obligations(3) 29,895 29,895 11,037 11,037 (1) $6.4 million was included in current portion of debt as of April 3, 2021 and January 2, 2021. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets. The fair value of debt was determined based on observable, or Level 2, inputs, such as interest rates, bond yields and quoted prices in inactive markets. The fair values of the deferred consideration and noncompete obligations were determined based on unobservable, or Level 3, inputs, including the cash payment terms in the purchase agreements and a discount rate reflecting the Company’s credit risk. The discount rate used is generally consistent with that used when the obligations were initially recorded. Securities with a maturity of three months or less are considered cash equivalents and the fair value of these assets approximates their carrying value.
Summit Materials, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FAIR VALUEFAIR VALUE Fair Value Measurements— Certain acquisitions made by the Company require the payment of contingent amounts of purchase consideration. These payments are contingent on specified operating results being achieved in periods subsequent to the acquisition and will only be made if earn-out thresholds are achieved. Contingent consideration obligations are measured at fair value each reporting period. Any adjustments to fair value are recognized in earnings in the period identified. The fair value of contingent consideration as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 654 $ 654 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 1,120 $ 1,209 The fair value of contingent consideration was based on unobservable, or Level 3, inputs, including projected probability-weighted cash payments and a 9.5% discount rate, which reflects a market discount rate. Changes in fair value may occur as a result of a change in actual or projected cash payments, the probability weightings applied by the Company to projected payments or a change in the discount rate. Significant increases or decreases in any of these inputs in isolation could result in a lower, or higher, fair value measurement. There were no material valuation adjustments to contingent consideration as of April 3, 2021 and March 28, 2020. Financial Instruments —The Company’s financial instruments include debt and certain acquisition-related liabilities (deferred consideration and noncompete obligations). The carrying value and fair value of these financial instruments as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 1,960,901 $ 1,913,894 $ 1,971,087 $ 1,915,425 Level 3 Current portion of deferred consideration and noncompete obligations(2) 12,718 12,718 7,173 7,173 Long term portion of deferred consideration and noncompete obligations(3) 29,895 29,895 11,037 11,037 (1) $6.4 million was included in current portion of debt as of April 3, 2021 and January 2, 2021. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets. The fair value of debt was determined based on observable, or Level 2, inputs, such as interest rates, bond yields and quoted prices in inactive markets. The fair values of the deferred consideration and noncompete obligations were determined based on unobservable, or Level 3, inputs, including the cash payment terms in the purchase agreements and a discount rate reflecting the Company’s credit risk. The discount rate used is generally consistent with that used when the obligations were initially recorded. Securities with a maturity of three months or less are considered cash equivalents and the fair value of these assets approximates their carrying value.

SEGMENT INFORMATION

SEGMENT INFORMATION3 Months Ended
Apr. 03, 2021
Segment Reporting Information [Line Items]
SEGMENT INFORMATIONSEGMENT INFORMATION The Company has three operating segments: West, East and Cement, which are its reporting segments. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated by the Chief Executive Officer, our Company’s Chief Operating Decision Maker (“CODM”). The CODM primarily evaluates the performance of the Company’s segments and allocates resources to them based on a segment profit metric that we call Adjusted EBITDA, which is computed as earnings from operations before interest, taxes, depreciation, depletion, amortization, accretion, and share-based compensation, as well as various other non-recurring, non-cash amounts. Beginning with the first quarter of 2021, the Company no longer adjusts for transaction costs, as those costs are recurring cash payments, and are included in general and administrative expenses. The West and East segments have several subsidiaries that are engaged in various activities including quarry mining, aggregate production and contracting. The Cement segment is engaged in the production of Portland cement. Assets employed by each segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements. The following tables display selected financial data for the Company’s reportable business segments as of April 3, 2021 and January 2, 2021 and for the three months ended April 3, 2021 and March 28, 2020: Three months ended April 3, 2021 March 28, 2020 Revenue*: West $ 251,133 $ 196,225 East 136,042 133,040 Cement 40,669 37,925 Total revenue $ 427,844 $ 367,190 *Intercompany sales are immaterial and the presentation above only reflects sales to external customers. Three months ended April 3, 2021 March 28, 2020 Loss from operations before taxes $ (28,688) $ (69,627) Interest expense 24,186 27,818 Depreciation, depletion and amortization 55,570 51,201 Accretion 766 577 Gain on sale of business (15,668) — Non-cash compensation 5,363 4,905 Other 205 787 Total Adjusted EBITDA $ 41,734 $ 15,661 Total Adjusted EBITDA by Segment: West $ 40,648 $ 22,468 East 11,745 9,573 Cement 2,499 (7,561) Corporate and other (13,158) (8,819) Total Adjusted EBITDA $ 41,734 $ 15,661 Three months ended April 3, 2021 March 28, 2020 Purchases of property, plant and equipment West $ 34,068 $ 18,896 East 33,202 37,081 Cement 2,273 5,399 Total reportable segments 69,543 61,376 Corporate and other 214 453 Total purchases of property, plant and equipment $ 69,757 $ 61,829 Three months ended April 3, 2021 March 28, 2020 Depreciation, depletion, amortization and accretion: West $ 25,140 $ 21,800 East 21,943 21,096 Cement 8,149 7,893 Total reportable segments 55,232 50,789 Corporate and other 1,104 989 Total depreciation, depletion, amortization and accretion $ 56,336 $ 51,778 April 3, 2021 January 2, 2021 Total assets: West $ 1,593,869 $ 1,503,382 East 1,300,877 1,303,742 Cement 852,697 850,835 Total reportable segments 3,747,443 3,657,959 Corporate and other 603,814 650,052 Total $ 4,351,257 $ 4,308,011
Summit Materials, LLC
Segment Reporting Information [Line Items]
SEGMENT INFORMATIONSEGMENT INFORMATION The Company has three operating segments: West, East and Cement, which are its reporting segments. These segments are consistent with the Company’s management reporting structure. The operating results of each segment are regularly reviewed and evaluated by the Chief Executive Officer, our Company’s Chief Operating Decision Maker (“CODM”). The CODM primarily evaluates the performance of the Company’s segments and allocates resources to them based on a segment profit metric that we call Adjusted EBITDA, which is computed as earnings from operations before interest, taxes, depreciation, depletion, amortization, accretion and share-based compensation, as well as various other non-recurring, non-cash amounts. Beginning with the first quarter of 2021, the Company no longer adjusts for transaction costs, as those costs are recurring cash payments, and are included in general and administrative expenses. The West and East segments have several acquired subsidiaries that are engaged in various activities including quarry mining, aggregate production and contracting. The Cement segment is engaged in the production of Portland cement. Assets employed by each segment include assets directly identified with those operations. Corporate assets consist primarily of cash, property, plant and equipment for corporate operations and other assets not directly identifiable with a reportable business segment. The accounting policies applicable to each segment are consistent with those used in the consolidated financial statements. The following tables display selected financial data for the Company’s reportable business segments as of April 3, 2021 and January 2, 2021 and for the three months ended April 3, 2021 and March 28, 2020: Three months ended April 3, 2021 March 28, 2020 Revenue*: West $ 251,133 $ 196,225 East 136,042 133,040 Cement 40,669 37,925 Total revenue $ 427,844 $ 367,190 *Intercompany sales are immaterial and the presentation above only reflects sales to external customers. Three months ended April 3, 2021 March 28, 2020 2021 2020 Loss from operations before taxes $ (28,626) $ (69,509) Interest expense 24,124 27,700 Depreciation, depletion and amortization 55,570 51,201 Accretion 766 577 Gain on sale of business (15,668) — Non-cash compensation 5,363 4,905 Other 205 787 Total Adjusted EBITDA $ 41,734 $ 15,661 Total Adjusted EBITDA by Segment: West $ 40,648 $ 22,468 East 11,745 9,573 Cement 2,499 (7,561) Corporate and other (13,158) (8,819) Total Adjusted EBITDA $ 41,734 $ 15,661 Three months ended April 3, 2021 March 28, 2020 Purchases of property, plant and equipment West $ 34,068 $ 18,896 East 33,202 37,081 Cement 2,273 5,399 Total reportable segments 69,543 61,376 Corporate and other 214 453 Total purchases of property, plant and equipment $ 69,757 $ 61,829 Three months ended April 3, 2021 March 28, 2020 Depreciation, depletion, amortization and accretion: West $ 25,140 $ 21,800 East 21,943 21,096 Cement 8,149 7,893 Total reportable segments 55,232 50,789 Corporate and other 1,104 989 Total depreciation, depletion, amortization and accretion $ 56,336 $ 51,778 April 3, 2021 January 2, 2021 Total assets: West $ 1,593,869 $ 1,503,382 East 1,300,877 1,303,742 Cement 852,697 850,835 Total reportable segments 3,747,443 3,657,959 Corporate and other 364,249 419,175 Total $ 4,111,692 $ 4,077,134

GUARANTOR AND NON-GUARANTOR FIN

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION3 Months Ended
Apr. 03, 2021
Summit Materials, LLC
Guarantor and Non-Guarantor Financial InformationGUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION Summit LLC’s domestic wholly-owned subsidiary companies other than Finance Corp. are named as guarantors (collectively, the “Guarantors”) of the Senior Notes. Finance Corp. does not and will not have any assets or operations other than as may be incidental to its activities as a co-issuer of the Senior Notes and other indebtedness. Certain other partially-owned subsidiaries and a non-U.S. entity do not guarantee the Senior Notes (collectively, the “Non-Guarantors”). The Guarantors provide a joint and several, full and unconditional guarantee of the Senior Notes. There are no significant restrictions on Summit LLC’s ability to obtain funds from any of the Guarantors in the form of dividends or loans. Additionally, there are no significant restrictions on a Guarantor’s ability to obtain funds from Summit LLC or its direct or indirect subsidiaries. The following condensed consolidating balance sheets, statements of operations and cash flows are provided for the Issuers, the Guarantors and the Non-Guarantors. Earnings from subsidiaries are included in other income in the condensed consolidated statements of operations below. The financial information may not necessarily be indicative of the financial position, results of operations or cash flows had the Guarantors or Non-Guarantors operated as independent entities. Condensed Consolidating Balance Sheets April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 345,936 $ 4,396 $ 12,027 $ (2,618) $ 359,741 Accounts receivable, net — 229,444 20,827 (213) 250,058 Intercompany receivables 394,071 1,306,790 — (1,700,861) — Cost and estimated earnings in excess of billings — 15,818 1,306 — 17,124 Inventories — 204,039 6,895 — 210,934 Other current assets 2,885 15,160 2,533 — 20,578 Total current assets 742,892 1,775,647 43,588 (1,703,692) 858,435 Property, plant and equipment, net 8,521 1,796,487 92,109 — 1,897,117 Goodwill — 1,141,412 61,014 — 1,202,426 Intangible assets, net — 66,362 5,124 — 71,486 Operating lease right-of-use assets 2,434 22,358 4,004 — 28,796 Other assets 4,050,562 208,521 524 (4,206,175) 53,432 Total assets $ 4,804,409 $ 5,010,787 $ 206,363 $ (5,909,867) $ 4,111,692 Liabilities and Members' Interest Current liabilities: Current portion of debt $ 6,354 $ — $ — $ — $ 6,354 Current portion of acquisition-related liabilities — 13,372 — — 13,372 Accounts payable 3,412 137,018 10,637 (213) 150,854 Accrued expenses 44,914 85,627 2,645 (2,618) 130,568 Current operating lease liabilities 931 5,932 617 — 7,480 Intercompany payables 1,194,001 500,244 6,616 (1,700,861) — Billings in excess of costs and estimated earnings — 13,350 580 — 13,930 Total current liabilities 1,249,612 755,543 21,095 (1,703,692) 322,558 Long-term debt 1,891,522 — — — 1,891,522 Acquisition-related liabilities — 31,015 — — 31,015 Noncurrent operating lease liabilities 2,327 16,759 3,160 — 22,246 Other noncurrent liabilities 5,477 229,622 118,202 (164,421) 188,880 Total liabilities 3,148,938 1,032,939 142,457 (1,868,113) 2,456,221 Total members' interest 1,655,471 3,977,848 63,906 (4,041,754) 1,655,471 Total liabilities and members' interest $ 4,804,409 $ 5,010,787 $ 206,363 $ (5,909,867) $ 4,111,692 Condensed Consolidating Balance Sheets January 2, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 401,074 $ 10,287 $ 10,461 $ (3,641) $ 418,181 Accounts receivable, net 4 230,199 24,384 109 254,696 Intercompany receivables 404,459 1,303,293 — (1,707,752) — Cost and estimated earnings in excess of billings — 7,504 1,162 — 8,666 Inventories — 193,417 6,891 — 200,308 Other current assets 2,840 6,797 1,791 — 11,428 Total current assets 808,377 1,751,497 44,689 (1,711,284) 893,279 Property, plant and equipment, net 9,410 1,746,045 94,714 — 1,850,169 Goodwill — 1,142,083 60,208 — 1,202,291 Intangible assets, net — 47,852 — — 47,852 Operating lease right-of-use assets 2,615 21,880 4,048 — 28,543 Other assets 4,022,729 207,699 493 (4,175,921) 55,000 Total assets $ 4,843,131 $ 4,917,056 $ 204,152 $ (5,887,205) $ 4,077,134 Liabilities and Members' Interest Current liabilities: Current portion of debt $ 6,354 $ — $ — $ — $ 6,354 Current portion of acquisition-related liabilities — 7,827 — — 7,827 Accounts payable 3,889 108,805 8,619 109 121,422 Accrued expenses 54,108 106,320 4,014 (3,641) 160,801 Current operating lease liabilities 913 6,114 1,161 — 8,188 Intercompany payables 1,215,043 485,401 7,308 (1,707,752) — Billings in excess of costs and estimated earnings — 15,508 991 — 16,499 Total current liabilities 1,280,307 729,975 22,093 (1,711,284) 321,091 Long-term debt 1,892,347 — — — 1,892,347 Acquisition-related liabilities — 12,246 — — 12,246 Noncurrent operating lease liabilities 2,567 16,062 2,871 — 21,500 Other noncurrent liabilities 5,142 208,540 117,921 (164,421) 167,182 Total liabilities 3,180,363 966,823 142,885 (1,875,705) 2,414,366 Total members' interest 1,662,768 3,950,233 61,267 (4,011,500) 1,662,768 Total liabilities and members' interest $ 4,843,131 $ 4,917,056 $ 204,152 $ (5,887,205) $ 4,077,134 Condensed Consolidating Statements of Operations For the three months ended April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Revenue $ — $ 407,301 $ 22,811 $ (2,268) $ 427,844 Cost of revenue (excluding items shown separately below) — 331,844 17,118 (2,268) 346,694 General and administrative expenses 18,591 29,849 1,433 — 49,873 Depreciation, depletion, amortization and accretion 1,104 52,566 2,666 — 56,336 Operating (loss) income (19,695) (6,958) 1,594 — (25,059) Other income, net (25,560) (4,337) (481) 25,489 (4,889) Interest expense (income) 33,291 (10,543) 1,376 — 24,124 Gain on sale of business — (15,668) — — (15,668) (Loss) income from operation before taxes (27,426) 23,590 699 (25,489) (28,626) Income tax expense (benefit) 364 (1,385) 185 — (836) Net (loss) income attributable to Summit LLC $ (27,790) $ 24,975 $ 514 $ (25,489) $ (27,790) Comprehensive (loss) income attributable to member of Summit Materials, LLC $ (25,664) $ 24,975 $ (1,612) $ (23,363) $ (25,664) Condensed Consolidating Statements of Operations For the three months ended March 28, 2020 Non- Issuers Guarantors Guarantors Eliminations Consolidated Revenue $ — $ 354,330 $ 16,193 $ (3,333) $ 367,190 Cost of revenue (excluding items shown separately below) — 308,110 12,586 (3,333) 317,363 General and administrative expenses 13,830 24,209 1,730 — 39,769 Depreciation, depletion, amortization and accretion 989 49,473 1,316 — 51,778 Operating (loss) income (14,819) (27,462) 561 — (41,720) Other loss (income), net 15,292 (306) 1,171 (16,068) 89 Interest expense (income) 33,214 (6,714) 1,200 — 27,700 Loss from operation before taxes (63,325) (20,442) (1,810) 16,068 (69,509) Income tax expense (benefit) 300 (5,717) (467) — (5,884) Net loss attributable to Summit LLC $ (63,625) $ (14,725) $ (1,343) $ 16,068 $ (63,625) Comprehensive (loss) income attributable to member of Summit Materials, LLC $ (71,984) $ (14,725) $ 7,016 $ 7,709 $ (71,984) Condensed Consolidating Statements of Cash Flows For the three months ended April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Net cash (used in) provided by operating activities $ (44,988) $ 18,590 $ 5,080 $ — $ (21,318) Cash flow from investing activities: Purchase of property, plant and equipment (215) (67,795) (1,747) — (69,757) Proceeds from the sale of property, plant, and equipment — 2,457 206 — 2,663 Proceeds from the sale of a business — 33,077 — — 33,077 Other — (483) — — (483) Net cash used for investing activities (215) (32,744) (1,541) — (34,500) Cash flow from financing activities: Proceeds from investment by member 15,920 — — — 15,920 Loans received from and payments made on loans from other Summit Companies (21,350) 22,390 (2,063) 1,023 — Payments on long-term debt (1,589) (8,531) (50) — (10,170) Payments on acquisition-related liabilities — (5,596) — — (5,596) Distributions from partnership (2,500) — — — (2,500) Other (416) — — — (416) Net cash (used in) provided by financing activities (9,935) 8,263 (2,113) 1,023 (2,762) Impact of cash on foreign currency — — 140 — 140 Net (decrease) increase in cash (55,138) (5,891) 1,566 1,023 (58,440) Cash — Beginning of period 401,074 10,287 10,461 (3,641) 418,181 Cash — End of period $ 345,936 $ 4,396 $ 12,027 $ (2,618) $ 359,741 Condensed Consolidating Statements of Cash Flows For the three months ended March 28, 2020 Non- Issuers Guarantors Guarantors Eliminations Consolidated Net cash (used in) provided by operating activities $ (51,401) $ 10,349 $ 2,121 $ — $ (38,931) Cash flow from investing activities: Purchase of property, plant and equipment (454) (60,423) (952) — (61,829) Proceeds from the sale of property, plant, and equipment — 3,140 20 — 3,160 Other — 1,801 — — 1,801 Net cash used for investing activities (454) (55,482) (932) — (56,868) Cash flow from financing activities: Proceeds from investment by member 310 — — — 310 Loans received from and payments made on loans from other Summit Companies (55,225) 52,247 188 2,790 — Payments on long-term debt (1,588) (3,856) (49) — (5,493) Payments on acquisition-related liabilities — (7,015) — — (7,015) Distributions from partnership (2,500) — — — (2,500) Other (822) (86) — — (908) Net cash (used in) provided by financing activities (59,825) 41,290 139 2,790 (15,606) Impact of cash on foreign currency — — (800) — (800) Net (decrease) increase in cash (111,680) (3,843) 528 2,790 (112,205) Cash — Beginning of period 302,474 5,488 9,834 (6,477) 311,319 Cash — End of period $ 190,794 $ 1,645 $ 10,362 $ (3,687) $ 199,114

SUMMARY OF ORGANIZATION AND S_2

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES - (Policies)3 Months Ended
Apr. 03, 2021
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Basis of PresentationBasis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto as of and for the year ended January 2, 2021. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of April 3, 2021, the results of operations for the three months ended April 3, 2021 and March 28, 2020 and cash flows for the three months ended April 3, 2021 and March 28, 2020.
Principles of ConsolidationPrinciples of Consolidation —The consolidated financial statements include the accounts of Summit Inc. and its majority owned subsidiaries. All intercompany balances and transactions have been eliminated. For a summary of the changes in Summit Inc.’s ownership of Summit Holdings, see Note 9, Stockholders’ Equity.
Use of EstimatesUse of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, tax receivable agreement ("TRA") liability, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs.
Business and Credit ConcentrationsBusiness and Credit Concentrations— The Company’s operations are conducted primarily across 21 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Utah, Kansas and Missouri. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company’s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company’s total revenue in the three months ended April 3, 2021 or March 28, 2020.
Revenue RecognitionRevenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products, and from the provision of services, which are primarily paving and related services. Products: Revenue for product sales is recognized when evidence of an arrangement exists and when control passes, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on the percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion.
Earnings per ShareEarnings per Share— The Company computes basic earnings per share attributable to stockholders by dividing income attributable to Summit Inc. by the weighted-average shares of Class A common stock outstanding. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in the Company’s earnings. Since the Class B common stock has no economic value, those shares are not included in the weighted-average common share amount for basic or diluted earnings per share. In addition, as the shares of Class A common stock are issued by Summit Inc., the earnings and equity interests of noncontrolling interests are not included in basic earnings per share.
Prior Period ReclassificationsPrior Period Reclassifications — Beginning in the first quarter of 2021, we have reclassified $31.2 million of fixed overhead expenses related to production activities from general and administrative expenses to cost of revenue for the three months ended March 28, 2020 to conform to the current year presentation. In addition, we reclassified $1.9 million of gain on sale of property, plant and equipment from general and administrative expenses to a separate line item included within operating loss, also to conform to the current year presentation. Lastly, we reclassified $0.8 million of transaction costs from its own line item within operating loss into general and administrative expenses for the three months ended March 28, 2020 to conform to the current year presentation. We believe these reclassifications enhance the comparability of our financial statements to others in the industry and had no impact on previously reported operating income or Adjusted EBITDA, a non-GAAP measure described in note 14 below.
New Accounting StandardsNew Accounting Standards — In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which reduces the accounting complexity of implementing a cloud computing service arrangement. The ASU aligns the capitalization of implementation costs among hosting arrangements and costs incurred to develop internal-use software. We adopted this ASU in the first quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework Changes to The Disclosure Requirements for Defined Benefits Plans , which modifies the disclosure requirements of employer-sponsored defined benefit and other postretirement benefits plans. The
LeasesWe lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment.Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Summit Materials, LLC
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Basis of PresentationBasis of Presentation —These unaudited consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These unaudited consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto as of and for the year ended January 2, 2021. The Company continues to follow the accounting policies set forth in those audited consolidated financial statements. Management believes that these consolidated interim financial statements include all adjustments, normal and recurring in nature, that are necessary to present fairly the financial position of the Company as of April 3, 2021, the results of operations for the three months ended April 3, 2021 and March 28, 2020 and cash flows for the three months ended April 3, 2021 and March 28, 2020.
Use of EstimatesUse of Estimates —Preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and reported amounts of revenue and expenses. Such estimates include the valuation of accounts receivable, inventories, valuation of deferred tax assets, goodwill, intangibles and other long-lived assets, pension and other postretirement obligations and asset retirement obligations. Estimates also include revenue earned on contracts and costs to complete contracts. Most of the Company’s paving and related services are performed under fixed unit-price contracts with state and local governmental entities. Management regularly evaluates its estimates and assumptions based on historical experience and other factors, including the current economic environment. As future events and their effects cannot be determined with precision, actual results can differ significantly from estimates made. Changes in estimates, including those resulting from continuing changes in the economic environment, are reflected in the Company’s consolidated financial statements when the change in estimate occurs.
Business and Credit ConcentrationsBusiness and Credit Concentrations— The Company’s operations are conducted primarily across 21 U.S. states and in British Columbia, Canada, with the most significant revenue generated in Texas, Utah, Kansas and Missouri. The Company’s accounts receivable consist primarily of amounts due from customers within these areas. Therefore, collection of these accounts is dependent on the economic conditions in the aforementioned states, as well as specific situations affecting individual customers. Credit granted within the Company’s trade areas has been granted to many customers, and management does not believe that a significant concentration of credit exists with respect to any individual customer or group of customers. No single customer accounted for more than 10% of the Company’s total revenue in the three months ended April 3, 2021 or March 28, 2020.
Revenue RecognitionRevenue Recognition— We earn revenue from the sale of products, which primarily include aggregates, cement, ready-mix concrete and asphalt, but also include concrete products, and from the provision of services, which are primarily paving and related services. Products: Revenue for product sales is recognized when evidence of an arrangement exists and when control passes, which generally is when the product is shipped. Services: We earn revenue from the provision of services, which are primarily paving and related services, which are typically calculated using monthly progress based on the percentage of completion or a customer’s engineer review of progress. The majority of our construction service contracts are completed within one year, but may occasionally extend beyond this time frame. The majority of our construction service contracts are for work that occurs mostly during the spring, summer and fall. We generally measure progress toward completion on long-term paving and related services contracts based on the proportion of costs incurred to date relative to total estimated costs at completion. The percentage of completion method of accounting involves the use of various estimating techniques to project costs at completion, and in some cases includes estimates of recoveries asserted against the customer for changes in specifications or other disputes.
Prior Period ReclassificationsPrior Period Reclassifications —Beginning in the first quarter of 2021, we have reclassified $31.2 million of fixed overhead expenses related to production activities from general and administrative expenses to cost of revenue for the three months ended March 28, 2020 to conform to the current year presentation. In addition, we reclassified $1.9 million of gain on sale of property, plant and equipment from general and administrative expenses to a separate line item included within operating loss, also to conform to the current year presentation. Lastly, we reclassified $0.8 million of transaction costs from its own line item within operating loss into general and administrative expenses for the three months ended March 28, 2020 to conform to the current year presentation. We believe these reclassifications enhance the comparability of our financial statements to others in the industry and had no impact on previously reported operating income or Adjusted EBITDA.
New Accounting StandardsNew Accounting Standards— In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which reduces the accounting complexity of implementing a cloud computing service arrangement. The ASU aligns the capitalization of implementation costs among hosting arrangements and costs incurred to develop internal-use software. We adopted this ASU in the first quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework Changes to The Disclosure Requirements for Defined Benefits Plans, which modifies the disclosure requirements of employer-sponsored defined benefit and other postretirement benefits plans. The ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. We adopted this ASU in the fourth quarter of 2020 and the adoption of this ASU did not have a material impact on the consolidated financial statements.
LeasesWe lease construction and office equipment, distribution facilities and office space. Leases with an initial term of 12 months or less, including month to month leases, are not recorded on the balance sheet. Lease expense for short-term leases is recognized on a straight line basis over the lease term. For lease agreements we have entered into or reassessed, we combine lease and nonlease components. While we also own mineral leases for mining operations, those leases are outside the scope of Topic 842. Assets acquired under finance leases are included in property, plant and equipment.Many of our leases include options to purchase the leased equipment. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

ACQUISITIONS, DISPOSTIONS, GO_2

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - (Tables)3 Months Ended
Apr. 03, 2021
Business Acquisition [Line Items]
Goodwill by Reportable Segment and in TotalChanges in the carrying amount of goodwill, by reportable segment, from January 2, 2021 to April 3, 2021 are summarized as follows: West East Cement Total Balance—January 2, 2021 $ 586,209 $ 410,426 $ 204,656 $ 1,201,291 Acquisitions (dispositions) (1) — (670) — (670) Foreign currency translation adjustments 805 — — 805 Balance—April 3, 2021 $ 587,014 $ 409,756 $ 204,656 $ 1,201,426 _______________________________________________________________________ (1) Reflects goodwill from acquisitions and dispositions completed during the three months ended April 3, 2021 and working capital adjustments from prior year acquisitions.
Intangible Assets by Type and in TotalThe following table shows intangible assets by type and in total: April 3, 2021 January 2, 2021 Gross Accumulated Net Gross Accumulated Net Operating permits $ 33,671 $ (1,553) $ 32,118 $ 33,671 $ (1,207) $ 32,464 Mineral leases 19,225 (7,857) 11,368 19,225 (7,571) 11,654 Reserve rights 25,586 (2,710) 22,876 6,234 (2,504) 3,730 Other 5,506 (382) 5,124 586 (582) 4 Total intangible assets $ 83,988 $ (12,502) $ 71,486 $ 59,716 $ (11,864) $ 47,852
Estimated Amortization Expense for Intangible AssetsThe estimated amortization expense for the intangible assets for each of the five years subsequent to April 3, 2021 is as follows: 2021 (nine months) $ 3,023 2022 4,091 2023 3,904 2024 3,809 2025 3,765 2026 3,620 Thereafter 49,274 Total $ 71,486
Summit Materials, LLC
Business Acquisition [Line Items]
Goodwill by Reportable Segment and in TotalChanges in the carrying amount of goodwill, by reportable segment, from January 2, 2021 to April 3, 2021 are summarized as follows: West East Cement Total Balance—January 2, 2021 $ 587,209 $ 410,426 $ 204,656 $ 1,202,291 Acquisitions (dispositions) (1) — (670) — (670) Foreign currency translation adjustments 805 — — 805 Balance—April 3, 2021 $ 588,014 $ 409,756 $ 204,656 $ 1,202,426 _______________________________________________________________________ (1) Reflects goodwill from acquisitions and dispositions completed during the three months ended April 3, 2021 and working capital adjustments from prior year acquisitions.
Intangible Assets by Type and in TotalThe following table shows intangible assets by type and in total: April 3, 2021 January 2, 2021 Gross Accumulated Net Gross Accumulated Net Operating permits $ 33,671 $ (1,553) $ 32,118 $ 33,671 $ (1,207) $ 32,464 Mineral leases 19,225 (7,857) 11,368 19,225 (7,571) 11,654 Reserve rights 25,586 (2,710) 22,876 6,234 (2,504) 3,730 Other 5,506 (382) 5,124 586 (582) 4 Total intangible assets $ 83,988 $ (12,502) $ 71,486 $ 59,716 $ (11,864) $ 47,852
Estimated Amortization Expense for Intangible AssetsThe estimated amortization expense for the intangible assets for each of the five years subsequent to April 3, 2021 is as follows: 2021 (nine months) $ 3,023 2022 4,091 2023 3,904 2024 3,809 2025 3,765 2026 3,620 Thereafter 49,274 Total $ 71,486 In the first quarter of 2021, as part of the Company's strategy to rationalize assets, the Company sold a business in the East segment, resulting in cash proceeds of $33.1 million and a total gain on disposition of $15.7 million.

REVENUE RECOGNITION - (Tables)

REVENUE RECOGNITION - (Tables)3 Months Ended
Apr. 03, 2021
Revenue from External Customer [Line Items]
Revenue by ProductRevenue by product for the three months ended April 3, 2021 and March 28, 2020 is as follows: Three months ended April 3, 2021 March 28, 2020 Revenue by product*: Aggregates $ 117,388 $ 96,161 Cement 38,139 32,863 Ready-mix concrete 158,233 141,704 Asphalt 28,375 23,206 Paving and related services 43,215 33,426 Other 42,494 39,830 Total revenue $ 427,844 $ 367,190 *Revenue from liquid asphalt terminals is included in asphalt revenue.
Summary of Accounts Receivable, NetAccounts receivable, net consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Trade accounts receivable $ 212,825 $ 191,871 Construction contract receivables 24,795 47,179 Retention receivables 15,080 18,824 Receivables from related parties 1,569 1,339 Accounts receivable 254,269 259,213 Less: Allowance for doubtful accounts (4,211) (4,517) Accounts receivable, net $ 250,058 $ 254,696
Summit Materials, LLC
Revenue from External Customer [Line Items]
Revenue by ProductRevenue by product for the three months ended April 3, 2021 and March 28, 2020 is as follows: Three months ended April 3, 2021 March 28, 2020 Revenue by product*: Aggregates $ 117,388 $ 96,161 Cement 38,139 32,863 Ready-mix concrete 158,233 141,704 Asphalt 28,375 23,206 Paving and related services 43,215 33,426 Other 42,494 39,830 Total revenue $ 427,844 $ 367,190 *Revenue from liquid asphalt terminals is included in asphalt revenue.
Summary of Accounts Receivable, NetAccounts receivable, net consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Trade accounts receivable $ 212,825 $ 191,871 Construction contract receivables 24,795 47,179 Retention receivables 15,080 18,824 Receivables from related parties 1,569 1,339 Accounts receivable 254,269 259,213 Less: Allowance for doubtful accounts (4,211) (4,517) Accounts receivable, net $ 250,058 $ 254,696

INVENTORIES - (Tables)

INVENTORIES - (Tables)3 Months Ended
Apr. 03, 2021
Inventory [Line Items]
Components of InventoriesInventories consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Aggregate stockpiles $ 137,595 $ 137,938 Finished goods 39,331 32,993 Work in process 7,186 9,281 Raw materials 26,822 20,096 Total $ 210,934 $ 200,308
Summit Materials, LLC
Inventory [Line Items]
Components of InventoriesInventories consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Aggregate stockpiles $ 137,595 $ 137,938 Finished goods 39,331 32,993 Work in process 7,186 9,281 Raw materials 26,822 20,096 Total $ 210,934 $ 200,308

ACCRUED EXPENSES - (Tables)

ACCRUED EXPENSES - (Tables)3 Months Ended
Apr. 03, 2021
Schedule Of Accrued Expenses [Line Items]
Components of Accrued ExpensesAccrued expenses consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Interest $ 14,292 $ 21,860 Payroll and benefits 25,459 46,026 Finance lease obligations 21,271 24,601 Insurance 20,083 18,355 Non-income taxes 18,566 15,669 Deferred asset purchase payments 3,788 9,749 Professional fees 1,006 828 Other (1) 25,873 23,482 Total $ 130,338 $ 160,570 (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.
Summit Materials, LLC
Schedule Of Accrued Expenses [Line Items]
Components of Accrued ExpensesAccrued expenses consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Interest $ 14,292 $ 21,860 Payroll and benefits 25,459 46,026 Finance lease obligations 21,271 24,601 Insurance 20,083 18,355 Non-income taxes 18,796 15,900 Deferred asset purchase payments 3,788 9,749 Professional fees 1,006 828 Other (1) 25,873 23,482 Total $ 130,568 $ 160,801 _______________________________________________________________________ (1) Consists primarily of current portion of asset retirement obligations and miscellaneous accruals.

DEBT - (Tables)

DEBT - (Tables)3 Months Ended
Apr. 03, 2021
Debt Instrument [Line Items]
Schedule of DebtDebt consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Term Loan, due 2024: $614.7 million and $616.3 million, net of $0.8 million and $0.9 million discount at April 3, 2021 and January 2, 2021, respectively $ 613,894 $ 615,425 5 1 ⁄ 8 % Senior Notes, due 2025 300,000 300,000 6 1 ⁄ 2 % Senior Notes, due 2027 300,000 300,000 5 1 ⁄ 4 % Senior Notes, due 2029 700,000 700,000 Total 1,913,894 1,915,425 Current portion of long-term debt 6,354 6,354 Long-term debt $ 1,907,540 $ 1,909,071
Schedule of Contractual Payments of Long-Term DebtThe contractual payments of long-term debt, including current maturities, for the five years subsequent to April 3, 2021, are as follows: 2021 (nine months) $ 4,765 2022 6,353 2023 6,354 2024 597,253 2025 300,000 2026 — Thereafter 1,000,000 Total 1,914,725 Less: Original issue net discount (831) Less: Capitalized loan costs (16,018) Total debt $ 1,897,876
Summary of Activity for Deferred Financing FeesThe following table presents the activity for the deferred financing fees for the three months ended April 3, 2021 and March 28, 2020: Deferred financing fees Balance—January 2, 2021 $ 18,367 Amortization (836) Balance—April 3, 2021 $ 17,531 Balance—December 28, 2019 $ 15,436 Amortization (833) Balance—March 28, 2020 $ 14,603
Summit Materials, LLC
Debt Instrument [Line Items]
Schedule of DebtDebt consisted of the following as of April 3, 2021 and January 2, 2021: April 3, 2021 January 2, 2021 Term Loan, due 2024: $614.7 million and $616.3 million, net of $0.8 million and $0.9 million discount at April 3, 2021 and January 2, 2021, respectively $ 613,894 $ 615,425 5 1/8 % Senior Notes, due 2025 300,000 300,000 6 1/2 % Senior Notes, due 2027 300,000 300,000 5 1/4 % Senior Notes, due 2029 700,000 700,000 Total 1,913,894 1,915,425 Current portion of long-term debt 6,354 6,354 Long-term debt $ 1,907,540 $ 1,909,071
Schedule of Contractual Payments of Long-Term DebtThe contractual payments of long-term debt, including current maturities, for the five years subsequent to April 3, 2021, are as follows: 2021 (nine months) $ 4,765 2022 6,353 2023 6,354 2024 597,253 2025 300,000 2026 — Thereafter 1,000,000 Total 1,914,725 Less: Original issue net discount (831) Less: Capitalized loan costs (16,018) Total debt $ 1,897,876
Summary of Activity for Deferred Financing FeesThe following table presents the activity for the deferred financing fees for the three months ended April 3, 2021 and March 28, 2020: Deferred financing fees Balance—January 2, 2021 $ 18,367 Amortization (836) Balance—April 3, 2021 $ 17,531 Balance - December 28, 2019 $ 15,436 Amortization (833) Balance - March 28, 2020 $ 14,603

EARNINGS PER SHARE - (Tables)

EARNINGS PER SHARE - (Tables)3 Months Ended
Apr. 03, 2021
Earnings Per Share [Abstract]
Schedule of Basic Earnings Per ShareThe following table shows the calculation of basic and diluted earnings per share: Three months ended April 3, 2021 March 28, 2020 Net loss attributable to Summit Inc. $ (22,517) $ (44,979) Weighted average shares of Class A stock outstanding Add: Nonvested restricted stock awards of retirement eligible shares 253,521 — Add: Weighted average shares of Class A stock outstanding 115,411,204 113,602,110 Weighted average basic shares outstanding 115,664,725 113,602,110 Basic loss per share $ (0.19) $ (0.40) Diluted net loss attributable to Summit Inc. $ (22,517) $ (44,979) Weighted average shares of Class A stock outstanding 115,411,204 113,602,110 Add: weighted average of LP Units — — Add: stock options — — Add: warrants — — Add: restricted stock units — — Add: performance stock units — — Weighted average dilutive shares outstanding 115,411,204 113,602,110 Diluted loss per share $ (0.20) $ (0.40)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per ShareExcluded from the above calculations were the shares noted below as they were antidilutive: Three months ended April 3, 2021 March 28, 2020 Antidilutive shares: LP Units 2,613,209 3,154,228 Time-vesting stock options 1,175,135 2,109,465 Warrants 43,166 100,037 Time-vesting restricted stock units 1,894,877 1,666,365 Market-based restricted stock units 410,357 446,670

STOCKHOLDERS' EQUITY_MEMBERS'_2

STOCKHOLDERS' EQUITY/MEMBERS' INTEREST - (Tables)3 Months Ended
Apr. 03, 2021
Schedule of Capitalization, Equity [Line Items]
Schedule of changes in ownership of Summit HoldingsThe following table summarizes the changes in our ownership of Summit Holdings: Summit Inc. LP Units Total Summit Inc. Balance — January 2, 2021 114,390,595 2,873,170 117,263,765 97.5 % Exchanges during period 711,794 (711,794) — Stock option exercises 863,338 — 863,338 Other equity transactions 678,605 — 678,605 Balance — April 3, 2021 116,644,332 2,161,376 118,805,708 98.2 % Balance — December 28, 2019 113,309,385 3,249,657 116,559,042 97.2 % Exchanges during period 196,542 (196,542) — Stock option exercises 13,335 — 13,335 Other equity transactions 591,335 — 591,335 Balance — March 28, 2020 114,110,597 3,053,115 117,163,712 97.4 %
Schedule of Changes in Each Component of Accumulated Other Comprehensive Income (Loss)The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Change in Foreign currency Accumulated Balance — January 2, 2021 $ 533 $ 4,670 $ 5,203 Foreign currency translation adjustment, net of tax — 1,635 1,635 Balance — April 3, 2021 $ 533 $ 6,305 $ 6,838 Balance — December 28, 2019 $ 2,171 $ 1,277 $ 3,448 Foreign currency translation adjustment, net of tax — (6,093) (6,093) Balance — March 28, 2020 $ 2,171 $ (4,816) $ (2,645)
Summit Materials, LLC
Schedule of Capitalization, Equity [Line Items]
Schedule of Changes in Each Component of Accumulated Other Comprehensive Income (Loss)The changes in each component of accumulated other comprehensive income (loss) consisted of the following: Accumulated Foreign currency other Change in translation comprehensive retirement plans adjustments (loss) income Balance — January 2, 2021 $ (8,546) $ (10,037) $ (18,583) Foreign currency translation adjustment — 2,126 2,126 Balance — April 3, 2021 $ (8,546) $ (7,911) $ (16,457) Balance — December 28, 2019 $ (6,317) $ (14,654) $ (20,971) Foreign currency translation adjustment — (8,359) (8,359) Balance — March 28, 2020 $ (6,317) $ (23,013) $ (29,330)

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION - (Tables)3 Months Ended
Apr. 03, 2021
Schedule Of Cash Flow Supplemental [Line Items]
Schedule of Supplemental Cash Flow InformationSupplemental cash flow information is as follows: Three months ended April 3, 2021 March 28, 2020 Cash payments: Interest $ 29,476 $ 36,310 Payments (refunds) for income taxes, net 2,312 (298) Operating cash payments on operating leases 2,928 2,948 Operating cash payments on finance leases 655 794 Finance cash payments on finance leases 5,834 3,883 Non cash financing activities: Right of use assets obtained in exchange for operating lease obligations $ 3,081 $ 577 Right of use assets obtained in exchange for finance leases obligations 588 6,267 Exchange of LP Units to shares of Class A common stock 19,784 4,648
Summit Materials, LLC
Schedule Of Cash Flow Supplemental [Line Items]
Schedule of Supplemental Cash Flow InformationSupplemental cash flow information is as follows: Three months ended April 3, 2021 March 28, 2020 Cash payments: Interest $ 29,476 $ 36,310 Payments (refunds) for income taxes, net 2,312 (298) Operating cash payments on operating leases 2,928 2,948 Operating cash payments on finance leases 655 794 Finance cash payments on finance leases 5,834 3,883 Non cash financing activities: Right of use assets obtained in exchange for operating lease obligations $ 3,081 $ 577 Right of use assets obtained in exchange for finance leases obligations 588 6,267

LEASES - (Tables)

LEASES - (Tables)3 Months Ended
Apr. 03, 2021
Lessee, Lease, Description [Line Items]
Schedule of Lease CostThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Lease Assets and LiabilitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Finance Lease Liability MaturitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Operating Lease Liability MaturitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Summit Materials, LLC
Lessee, Lease, Description [Line Items]
Schedule of Lease CostThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Lease Assets and LiabilitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Finance Lease Liability MaturitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989
Schedule of Operating Lease Liability MaturitiesThe components of lease expense were as follows: Three months ended April 3, 2021 March 28, 2020 Operating lease cost $ 1,727 $ 2,607 Variable lease cost 72 57 Short-term lease cost 7,301 8,620 Financing lease cost: Amortization of right-of-use assets 3,050 2,739 Interest on lease liabilities 657 771 Total lease cost $ 12,807 $ 14,794 April 3, 2021 January 2, 2021 Supplemental balance sheet information related to leases: Operating leases: Operating lease right-of-use assets $ 28,796 $ 28,543 Current operating lease liabilities $ 7,480 $ 8,188 Noncurrent operating lease liabilities 22,246 21,500 Total operating lease liabilities $ 29,726 $ 29,688 Finance leases: Property and equipment, gross $ 83,072 $ 92,679 Less accumulated depreciation (31,263) (32,828) Property and equipment, net $ 51,809 $ 59,851 Current finance lease liabilities $ 21,271 $ 24,601 Long-term finance lease liabilities 25,718 31,727 Total finance lease liabilities $ 46,989 $ 56,328 Weighted average remaining lease term (years): Operating leases 9.3 8.7 Finance lease 2.5 2.4 Weighted average discount rate: Operating leases 5.2 % 5.3 % Finance lease 5.2 % 5.2 % Maturities of lease liabilities were as follows: Operating Leases Finance Leases 2021 (nine months) $ 6,427 $ 16,259 2022 6,785 18,777 2023 5,101 7,352 2024 3,167 3,207 2025 2,224 2,580 2026 1,508 988 Thereafter 12,880 1,843 Total lease payments 38,092 51,006 Less imputed interest (8,366) (4,017) Present value of lease payments $ 29,726 $ 46,989

FAIR VALUE - (Tables)

FAIR VALUE - (Tables)3 Months Ended
Apr. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Contingent Consideration and Derivatives Measured at Fair ValueThe fair value of contingent consideration as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 654 $ 654 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 1,120 $ 1,209
Schedule of Carrying Value and Fair Value of Financial InstrumentsThe carrying value and fair value of these financial instruments as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 1,960,901 $ 1,913,894 $ 1,971,087 $ 1,915,425 Level 3 Current portion of deferred consideration and noncompete obligations(2) 12,718 12,718 9,611 9,611 Long term portion of deferred consideration and noncompete obligations(3) 29,895 29,895 11,037 11,037 (1) $6.4 million was included in current portion of debt as of April 3, 2021 and January 2, 2021. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets.
Summit Materials, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Contingent Consideration and Derivatives Measured at Fair ValueThe fair value of contingent consideration as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Current portion of acquisition-related liabilities and Accrued expenses: Contingent consideration $ 654 $ 654 Acquisition-related liabilities and Other noncurrent liabilities: Contingent consideration $ 1,120 $ 1,209
Schedule of Carrying Value and Fair Value of Financial InstrumentsThe carrying value and fair value of these financial instruments as of April 3, 2021 and January 2, 2021 was: April 3, 2021 January 2, 2021 Fair Value Carrying Value Fair Value Carrying Value Level 1 Long-term debt(1) $ 1,960,901 $ 1,913,894 $ 1,971,087 $ 1,915,425 Level 3 Current portion of deferred consideration and noncompete obligations(2) 12,718 12,718 7,173 7,173 Long term portion of deferred consideration and noncompete obligations(3) 29,895 29,895 11,037 11,037 (1) $6.4 million was included in current portion of debt as of April 3, 2021 and January 2, 2021. (2) Included in current portion of acquisition-related liabilities on the consolidated balance sheets. (3) Included in acquisition-related liabilities on the consolidated balance sheets.

SEGMENT INFORMATION - (Tables)

SEGMENT INFORMATION - (Tables)3 Months Ended
Apr. 03, 2021
Segment Reporting Information [Line Items]
Summary of Financial Data for Company's Reportable Business SegmentsThe following tables display selected financial data for the Company’s reportable business segments as of April 3, 2021 and January 2, 2021 and for the three months ended April 3, 2021 and March 28, 2020: Three months ended April 3, 2021 March 28, 2020 Revenue*: West $ 251,133 $ 196,225 East 136,042 133,040 Cement 40,669 37,925 Total revenue $ 427,844 $ 367,190 *Intercompany sales are immaterial and the presentation above only reflects sales to external customers. Three months ended April 3, 2021 March 28, 2020 Loss from operations before taxes $ (28,688) $ (69,627) Interest expense 24,186 27,818 Depreciation, depletion and amortization 55,570 51,201 Accretion 766 577 Gain on sale of business (15,668) — Non-cash compensation 5,363 4,905 Other 205 787 Total Adjusted EBITDA $ 41,734 $ 15,661 Total Adjusted EBITDA by Segment: West $ 40,648 $ 22,468 East 11,745 9,573 Cement 2,499 (7,561) Corporate and other (13,158) (8,819) Total Adjusted EBITDA $ 41,734 $ 15,661 Three months ended April 3, 2021 March 28, 2020 Purchases of property, plant and equipment West $ 34,068 $ 18,896 East 33,202 37,081 Cement 2,273 5,399 Total reportable segments 69,543 61,376 Corporate and other 214 453 Total purchases of property, plant and equipment $ 69,757 $ 61,829 Three months ended April 3, 2021 March 28, 2020 Depreciation, depletion, amortization and accretion: West $ 25,140 $ 21,800 East 21,943 21,096 Cement 8,149 7,893 Total reportable segments 55,232 50,789 Corporate and other 1,104 989 Total depreciation, depletion, amortization and accretion $ 56,336 $ 51,778 April 3, 2021 January 2, 2021 Total assets: West $ 1,593,869 $ 1,503,382 East 1,300,877 1,303,742 Cement 852,697 850,835 Total reportable segments 3,747,443 3,657,959 Corporate and other 603,814 650,052 Total $ 4,351,257 $ 4,308,011
Summit Materials, LLC
Segment Reporting Information [Line Items]
Summary of Financial Data for Company's Reportable Business SegmentsThe following tables display selected financial data for the Company’s reportable business segments as of April 3, 2021 and January 2, 2021 and for the three months ended April 3, 2021 and March 28, 2020: Three months ended April 3, 2021 March 28, 2020 Revenue*: West $ 251,133 $ 196,225 East 136,042 133,040 Cement 40,669 37,925 Total revenue $ 427,844 $ 367,190 *Intercompany sales are immaterial and the presentation above only reflects sales to external customers. Three months ended April 3, 2021 March 28, 2020 2021 2020 Loss from operations before taxes $ (28,626) $ (69,509) Interest expense 24,124 27,700 Depreciation, depletion and amortization 55,570 51,201 Accretion 766 577 Gain on sale of business (15,668) — Non-cash compensation 5,363 4,905 Other 205 787 Total Adjusted EBITDA $ 41,734 $ 15,661 Total Adjusted EBITDA by Segment: West $ 40,648 $ 22,468 East 11,745 9,573 Cement 2,499 (7,561) Corporate and other (13,158) (8,819) Total Adjusted EBITDA $ 41,734 $ 15,661 Three months ended April 3, 2021 March 28, 2020 Purchases of property, plant and equipment West $ 34,068 $ 18,896 East 33,202 37,081 Cement 2,273 5,399 Total reportable segments 69,543 61,376 Corporate and other 214 453 Total purchases of property, plant and equipment $ 69,757 $ 61,829 Three months ended April 3, 2021 March 28, 2020 Depreciation, depletion, amortization and accretion: West $ 25,140 $ 21,800 East 21,943 21,096 Cement 8,149 7,893 Total reportable segments 55,232 50,789 Corporate and other 1,104 989 Total depreciation, depletion, amortization and accretion $ 56,336 $ 51,778 April 3, 2021 January 2, 2021 Total assets: West $ 1,593,869 $ 1,503,382 East 1,300,877 1,303,742 Cement 852,697 850,835 Total reportable segments 3,747,443 3,657,959 Corporate and other 364,249 419,175 Total $ 4,111,692 $ 4,077,134

GUARANTOR AND NON-GUARANTOR F_2

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - (Tables) - Summit Materials, LLC3 Months Ended
Apr. 03, 2021
Condensed Consolidating Balance SheetsCondensed Consolidating Balance Sheets April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 345,936 $ 4,396 $ 12,027 $ (2,618) $ 359,741 Accounts receivable, net — 229,444 20,827 (213) 250,058 Intercompany receivables 394,071 1,306,790 — (1,700,861) — Cost and estimated earnings in excess of billings — 15,818 1,306 — 17,124 Inventories — 204,039 6,895 — 210,934 Other current assets 2,885 15,160 2,533 — 20,578 Total current assets 742,892 1,775,647 43,588 (1,703,692) 858,435 Property, plant and equipment, net 8,521 1,796,487 92,109 — 1,897,117 Goodwill — 1,141,412 61,014 — 1,202,426 Intangible assets, net — 66,362 5,124 — 71,486 Operating lease right-of-use assets 2,434 22,358 4,004 — 28,796 Other assets 4,050,562 208,521 524 (4,206,175) 53,432 Total assets $ 4,804,409 $ 5,010,787 $ 206,363 $ (5,909,867) $ 4,111,692 Liabilities and Members' Interest Current liabilities: Current portion of debt $ 6,354 $ — $ — $ — $ 6,354 Current portion of acquisition-related liabilities — 13,372 — — 13,372 Accounts payable 3,412 137,018 10,637 (213) 150,854 Accrued expenses 44,914 85,627 2,645 (2,618) 130,568 Current operating lease liabilities 931 5,932 617 — 7,480 Intercompany payables 1,194,001 500,244 6,616 (1,700,861) — Billings in excess of costs and estimated earnings — 13,350 580 — 13,930 Total current liabilities 1,249,612 755,543 21,095 (1,703,692) 322,558 Long-term debt 1,891,522 — — — 1,891,522 Acquisition-related liabilities — 31,015 — — 31,015 Noncurrent operating lease liabilities 2,327 16,759 3,160 — 22,246 Other noncurrent liabilities 5,477 229,622 118,202 (164,421) 188,880 Total liabilities 3,148,938 1,032,939 142,457 (1,868,113) 2,456,221 Total members' interest 1,655,471 3,977,848 63,906 (4,041,754) 1,655,471 Total liabilities and members' interest $ 4,804,409 $ 5,010,787 $ 206,363 $ (5,909,867) $ 4,111,692 Condensed Consolidating Balance Sheets January 2, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 401,074 $ 10,287 $ 10,461 $ (3,641) $ 418,181 Accounts receivable, net 4 230,199 24,384 109 254,696 Intercompany receivables 404,459 1,303,293 — (1,707,752) — Cost and estimated earnings in excess of billings — 7,504 1,162 — 8,666 Inventories — 193,417 6,891 — 200,308 Other current assets 2,840 6,797 1,791 — 11,428 Total current assets 808,377 1,751,497 44,689 (1,711,284) 893,279 Property, plant and equipment, net 9,410 1,746,045 94,714 — 1,850,169 Goodwill — 1,142,083 60,208 — 1,202,291 Intangible assets, net — 47,852 — — 47,852 Operating lease right-of-use assets 2,615 21,880 4,048 — 28,543 Other assets 4,022,729 207,699 493 (4,175,921) 55,000 Total assets $ 4,843,131 $ 4,917,056 $ 204,152 $ (5,887,205) $ 4,077,134 Liabilities and Members' Interest Current liabilities: Current portion of debt $ 6,354 $ — $ — $ — $ 6,354 Current portion of acquisition-related liabilities — 7,827 — — 7,827 Accounts payable 3,889 108,805 8,619 109 121,422 Accrued expenses 54,108 106,320 4,014 (3,641) 160,801 Current operating lease liabilities 913 6,114 1,161 — 8,188 Intercompany payables 1,215,043 485,401 7,308 (1,707,752) — Billings in excess of costs and estimated earnings — 15,508 991 — 16,499 Total current liabilities 1,280,307 729,975 22,093 (1,711,284) 321,091 Long-term debt 1,892,347 — — — 1,892,347 Acquisition-related liabilities — 12,246 — — 12,246 Noncurrent operating lease liabilities 2,567 16,062 2,871 — 21,500 Other noncurrent liabilities 5,142 208,540 117,921 (164,421) 167,182 Total liabilities 3,180,363 966,823 142,885 (1,875,705) 2,414,366 Total members' interest 1,662,768 3,950,233 61,267 (4,011,500) 1,662,768 Total liabilities and members' interest $ 4,843,131 $ 4,917,056 $ 204,152 $ (5,887,205) $ 4,077,134
Condensed Consolidating Statements of OperationsCondensed Consolidating Statements of Operations For the three months ended April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Revenue $ — $ 407,301 $ 22,811 $ (2,268) $ 427,844 Cost of revenue (excluding items shown separately below) — 331,844 17,118 (2,268) 346,694 General and administrative expenses 18,591 29,849 1,433 — 49,873 Depreciation, depletion, amortization and accretion 1,104 52,566 2,666 — 56,336 Operating (loss) income (19,695) (6,958) 1,594 — (25,059) Other income, net (25,560) (4,337) (481) 25,489 (4,889) Interest expense (income) 33,291 (10,543) 1,376 — 24,124 Gain on sale of business — (15,668) — — (15,668) (Loss) income from operation before taxes (27,426) 23,590 699 (25,489) (28,626) Income tax expense (benefit) 364 (1,385) 185 — (836) Net (loss) income attributable to Summit LLC $ (27,790) $ 24,975 $ 514 $ (25,489) $ (27,790) Comprehensive (loss) income attributable to member of Summit Materials, LLC $ (25,664) $ 24,975 $ (1,612) $ (23,363) $ (25,664) Condensed Consolidating Statements of Operations For the three months ended March 28, 2020 Non- Issuers Guarantors Guarantors Eliminations Consolidated Revenue $ — $ 354,330 $ 16,193 $ (3,333) $ 367,190 Cost of revenue (excluding items shown separately below) — 308,110 12,586 (3,333) 317,363 General and administrative expenses 13,830 24,209 1,730 — 39,769 Depreciation, depletion, amortization and accretion 989 49,473 1,316 — 51,778 Operating (loss) income (14,819) (27,462) 561 — (41,720) Other loss (income), net 15,292 (306) 1,171 (16,068) 89 Interest expense (income) 33,214 (6,714) 1,200 — 27,700 Loss from operation before taxes (63,325) (20,442) (1,810) 16,068 (69,509) Income tax expense (benefit) 300 (5,717) (467) — (5,884) Net loss attributable to Summit LLC $ (63,625) $ (14,725) $ (1,343) $ 16,068 $ (63,625) Comprehensive (loss) income attributable to member of Summit Materials, LLC $ (71,984) $ (14,725) $ 7,016 $ 7,709 $ (71,984)
Condensed Consolidating Statements of Cash FlowsCondensed Consolidating Statements of Cash Flows For the three months ended April 3, 2021 Non- Issuers Guarantors Guarantors Eliminations Consolidated Net cash (used in) provided by operating activities $ (44,988) $ 18,590 $ 5,080 $ — $ (21,318) Cash flow from investing activities: Purchase of property, plant and equipment (215) (67,795) (1,747) — (69,757) Proceeds from the sale of property, plant, and equipment — 2,457 206 — 2,663 Proceeds from the sale of a business — 33,077 — — 33,077 Other — (483) — — (483) Net cash used for investing activities (215) (32,744) (1,541) — (34,500) Cash flow from financing activities: Proceeds from investment by member 15,920 — — — 15,920 Loans received from and payments made on loans from other Summit Companies (21,350) 22,390 (2,063) 1,023 — Payments on long-term debt (1,589) (8,531) (50) — (10,170) Payments on acquisition-related liabilities — (5,596) — — (5,596) Distributions from partnership (2,500) — — — (2,500) Other (416) — — — (416) Net cash (used in) provided by financing activities (9,935) 8,263 (2,113) 1,023 (2,762) Impact of cash on foreign currency — — 140 — 140 Net (decrease) increase in cash (55,138) (5,891) 1,566 1,023 (58,440) Cash — Beginning of period 401,074 10,287 10,461 (3,641) 418,181 Cash — End of period $ 345,936 $ 4,396 $ 12,027 $ (2,618) $ 359,741 Condensed Consolidating Statements of Cash Flows For the three months ended March 28, 2020 Non- Issuers Guarantors Guarantors Eliminations Consolidated Net cash (used in) provided by operating activities $ (51,401) $ 10,349 $ 2,121 $ — $ (38,931) Cash flow from investing activities: Purchase of property, plant and equipment (454) (60,423) (952) — (61,829) Proceeds from the sale of property, plant, and equipment — 3,140 20 — 3,160 Other — 1,801 — — 1,801 Net cash used for investing activities (454) (55,482) (932) — (56,868) Cash flow from financing activities: Proceeds from investment by member 310 — — — 310 Loans received from and payments made on loans from other Summit Companies (55,225) 52,247 188 2,790 — Payments on long-term debt (1,588) (3,856) (49) — (5,493) Payments on acquisition-related liabilities — (7,015) — — (7,015) Distributions from partnership (2,500) — — — (2,500) Other (822) (86) — — (908) Net cash (used in) provided by financing activities (59,825) 41,290 139 2,790 (15,606) Impact of cash on foreign currency — — (800) — (800) Net (decrease) increase in cash (111,680) (3,843) 528 2,790 (112,205) Cash — Beginning of period 302,474 5,488 9,834 (6,477) 311,319 Cash — End of period $ 190,794 $ 1,645 $ 10,362 $ (3,687) $ 199,114

SUMMARY OF ORGANIZATION AND S_3

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES - General Information (Details)3 Months Ended
Apr. 03, 2021plantsegment
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of operating segments3
Number of reportable segments3
Cement plant
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of plants | plant2
Summit Materials, LLC
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of operating segments3
Number of reportable segments3
Summit Materials, LLC | Cement plant
Summary Of Significant Accounting Policies And Recent Accounting Pronouncements [Line Items]
Number of plants | plant2

SUMMARY OF ORGANIZATION AND S_4

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES - Business and Credit Concentration, Tax Receivable Agreement (Details)Apr. 03, 2021state
Summit Materials, LLC
Business and Credit Concentrations
Number of states in which the entity operates21

SUMMARY OF ORGANIZATION AND S_5

SUMMARY OF ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES - Prior Period Reclassifications (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Reclassification [Line Items]
Net cost of revenue $ 346,694 $ 317,363
General and administrative expenses(51,642)(41,686)
Gain on sale of property, plant and equipment1,769 1,917
General and administrative expenses51,642 41,686
Summit Materials, LLC
Reclassification [Line Items]
Net cost of revenue346,694 317,363
General and administrative expenses(51,642)(41,686)
Gain on sale of property, plant and equipment1,769 1,917
General and administrative expenses $ 51,642 41,686
Revision of Prior Period, Reclassification, Adjustment
Reclassification [Line Items]
Net cost of revenue31,200
Gain on sale of property, plant and equipment1,900
Transaction costs800
Revision of Prior Period, Reclassification, Adjustment | Summit Materials, LLC
Reclassification [Line Items]
Net cost of revenue31,200
Gain on sale of property, plant and equipment1,900
Transaction costs800
Revision of Prior Period, Reclassification, Adjustment Out, Fixed Overhead Expenses
Reclassification [Line Items]
General and administrative expenses31,200
General and administrative expenses(31,200)
Revision of Prior Period, Reclassification, Adjustment Out, Fixed Overhead Expenses | Summit Materials, LLC
Reclassification [Line Items]
General and administrative expenses31,200
General and administrative expenses(31,200)
Prior Period, Reclassification, Adjustment Out, Gain On Sale Of Property
Reclassification [Line Items]
General and administrative expenses1,900
General and administrative expenses(1,900)
Prior Period, Reclassification, Adjustment Out, Gain On Sale Of Property | Summit Materials, LLC
Reclassification [Line Items]
General and administrative expenses1,900
General and administrative expenses(1,900)
Revision of Prior Period, Reclassification, Adjustment In, Transaction Costs
Reclassification [Line Items]
General and administrative expenses(800)
General and administrative expenses800
Revision of Prior Period, Reclassification, Adjustment In, Transaction Costs | Summit Materials, LLC
Reclassification [Line Items]
General and administrative expenses(800)
General and administrative expenses $ 800

ACQUISITIONS, DISPOSTIONS, GO_3

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Summary of Goodwill by Reportable Segments (Details) $ in Thousands3 Months Ended
Apr. 03, 2021USD ($)
Goodwill [Roll Forward]
Balance—January 2, 2021 $ 1,201,291
Acquisitions (dispositions)(670)
Foreign currency translation adjustments805
Balance—April 3, 20211,201,426
West
Goodwill [Roll Forward]
Balance—January 2, 2021586,209
Acquisitions (dispositions)0
Foreign currency translation adjustments805
Balance—April 3, 2021587,014
East
Goodwill [Roll Forward]
Balance—January 2, 2021410,426
Acquisitions (dispositions)(670)
Foreign currency translation adjustments0
Balance—April 3, 2021409,756
Cement
Goodwill [Roll Forward]
Balance—January 2, 2021204,656
Acquisitions (dispositions)0
Foreign currency translation adjustments0
Balance—April 3, 2021204,656
Summit Materials, LLC
Goodwill [Roll Forward]
Balance—January 2, 20211,202,291
Acquisitions (dispositions)(670)
Foreign currency translation adjustments805
Balance—April 3, 20211,202,426
Summit Materials, LLC | West
Goodwill [Roll Forward]
Balance—January 2, 2021587,209
Acquisitions (dispositions)0
Foreign currency translation adjustments805
Balance—April 3, 2021588,014
Summit Materials, LLC | East
Goodwill [Roll Forward]
Balance—January 2, 2021410,426
Acquisitions (dispositions)(670)
Foreign currency translation adjustments0
Balance—April 3, 2021409,756
Summit Materials, LLC | Cement
Goodwill [Roll Forward]
Balance—January 2, 2021204,656
Acquisitions (dispositions)0
Foreign currency translation adjustments0
Balance—April 3, 2021 $ 204,656

ACQUISITIONS, DISPOSTIONS, GO_4

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Intangible Assets By Type (Details) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount $ 83,988 $ 59,716
Accumulated Amortization(12,502)(11,864)
Net Carrying Amount71,486 47,852
Operating permits
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount33,671 33,671
Accumulated Amortization(1,553)(1,207)
Net Carrying Amount32,118 32,464
Mineral leases
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount19,225 19,225
Accumulated Amortization(7,857)(7,571)
Net Carrying Amount11,368 11,654
Reserve rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount25,586 6,234
Accumulated Amortization(2,710)(2,504)
Net Carrying Amount22,876 3,730
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount5,506 586
Accumulated Amortization(382)(582)
Net Carrying Amount5,124 4
Summit Materials, LLC
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount83,988 59,716
Accumulated Amortization(12,502)(11,864)
Net Carrying Amount71,486 47,852
Summit Materials, LLC | Operating permits
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount33,671 33,671
Accumulated Amortization(1,553)(1,207)
Net Carrying Amount32,118 32,464
Summit Materials, LLC | Mineral leases
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount19,225 19,225
Accumulated Amortization(7,857)(7,571)
Net Carrying Amount11,368 11,654
Summit Materials, LLC | Reserve rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount25,586 6,234
Accumulated Amortization(2,710)(2,504)
Net Carrying Amount22,876 3,730
Summit Materials, LLC | Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount5,506 586
Accumulated Amortization(382)(582)
Net Carrying Amount $ 5,124 $ 4

ACQUISITIONS, DISPOSTIONS, GO_5

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Amortization Expense (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020Jan. 02, 2021
Business Acquisition [Line Items]
Amortization expense $ 1,000 $ 700
Estimated amortization expense
2021 (nine months)3,023
20224,091
20233,904
20243,809
20253,765
20263,620
Thereafter49,274
Intangible assets, net71,486 $ 47,852
Summit Materials, LLC
Business Acquisition [Line Items]
Amortization expense1,000 $ 700
Estimated amortization expense
2021 (nine months)3,023
20224,091
20233,904
20243,809
20253,765
20263,620
Thereafter49,274
Intangible assets, net $ 71,486 $ 47,852

ACQUISITIONS, DISPOSTIONS, GO_6

ACQUISITIONS, DISPOSTIONS, GOODWILL AND INTANGIBLES - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Business Acquisition [Line Items]
Proceeds from sale of business $ 33,077 $ 0
Gain on sale of business(15,668)0
East
Business Acquisition [Line Items]
Proceeds from sale of business33,100
Gain on sale of business(15,700)
Summit Materials, LLC
Business Acquisition [Line Items]
Proceeds from sale of business33,077 0
Gain on sale of business(15,668) $ 0
Summit Materials, LLC | East
Business Acquisition [Line Items]
Proceeds from sale of business33,100
Gain on sale of business $ (15,700)

REVENUE RECOGNITION - By Produc

REVENUE RECOGNITION - By Product (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Revenue from External Customer [Line Items]
Total revenue $ 427,844 $ 367,190
Aggregates
Revenue from External Customer [Line Items]
Total revenue117,388 96,161
Cement
Revenue from External Customer [Line Items]
Total revenue38,139 32,863
Ready-mix concrete
Revenue from External Customer [Line Items]
Total revenue158,233 141,704
Asphalt
Revenue from External Customer [Line Items]
Total revenue28,375 23,206
Paving and related services
Revenue from External Customer [Line Items]
Total revenue43,215 33,426
Other
Revenue from External Customer [Line Items]
Total revenue42,494 39,830
Summit Materials, LLC
Revenue from External Customer [Line Items]
Total revenue427,844 367,190
Summit Materials, LLC | Aggregates
Revenue from External Customer [Line Items]
Total revenue117,388 96,161
Summit Materials, LLC | Cement
Revenue from External Customer [Line Items]
Total revenue38,139 32,863
Summit Materials, LLC | Ready-mix concrete
Revenue from External Customer [Line Items]
Total revenue158,233 141,704
Summit Materials, LLC | Asphalt
Revenue from External Customer [Line Items]
Total revenue28,375 23,206
Summit Materials, LLC | Paving and related services
Revenue from External Customer [Line Items]
Total revenue43,215 33,426
Summit Materials, LLC | Other
Revenue from External Customer [Line Items]
Total revenue $ 42,494 $ 39,830

REVENUE RECOGNITION - Summary o

REVENUE RECOGNITION - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Jan. 02, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable $ 212,825 $ 191,871
Construction contract receivables24,795 47,179
Retention receivables15,080 18,824
Receivables from related parties1,569 1,339
Accounts receivable254,269 259,213
Less: Allowance for doubtful accounts(4,211)(4,517)
Accounts receivable, net $ 250,058 254,696
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
General collection and billing period for retention receivables1 year
Summit Materials, LLC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable $ 212,825 191,871
Construction contract receivables24,795 47,179
Retention receivables15,080 18,824
Receivables from related parties1,569 1,339
Accounts receivable254,269 259,213
Less: Allowance for doubtful accounts(4,211)(4,517)
Accounts receivable, net $ 250,058 $ 254,696
Summit Materials, LLC | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
General collection and billing period for retention receivables1 year

INVENTORIES - Components of Inv

INVENTORIES - Components of Inventories (Details) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Inventory [Line Items]
Aggregate stockpiles $ 137,595 $ 137,938
Finished goods39,331 32,993
Work in process7,186 9,281
Raw materials26,822 20,096
Total210,934 200,308
Summit Materials, LLC
Inventory [Line Items]
Aggregate stockpiles137,595 137,938
Finished goods39,331 32,993
Work in process7,186 9,281
Raw materials26,822 20,096
Total $ 210,934 $ 200,308

ACCRUED EXPENSES - Components o

ACCRUED EXPENSES - Components of Accrued Expenses (Details) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Schedule Of Accrued Expenses [Line Items]
Interest $ 14,292 $ 21,860
Payroll and benefits25,459 46,026
Finance lease obligations21,271 24,601
Insurance20,083 18,355
Non-income taxes18,566 15,669
Deferred asset purchase payments3,788 9,749
Professional fees1,006 828
Other25,873 23,482
Accrued expenses130,338 160,570
Summit Materials, LLC
Schedule Of Accrued Expenses [Line Items]
Interest14,292 21,860
Payroll and benefits25,459 46,026
Finance lease obligations21,271 24,601
Insurance20,083 18,355
Non-income taxes18,796 15,900
Deferred asset purchase payments3,788 9,749
Professional fees1,006 828
Other25,873 23,482
Accrued expenses $ 130,568 $ 160,801

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($)Apr. 03, 2021Jan. 02, 2021Jun. 01, 2017
Debt Instrument [Line Items]
Total debt $ 1,913,894,000 $ 1,915,425,000
Current portion of debt6,354,000 6,354,000
Long-term debt1,907,540,000 1,909,071,000
Gross amount1,914,725,000
Debt discount $ 831,000
5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Debt instrument interest rate (as a percent)5.125%
Summit Materials, LLC
Debt Instrument [Line Items]
Total debt $ 1,913,894,000 1,915,425,000
Current portion of debt6,354,000 6,354,000
Long-term debt1,907,540,000 1,909,071,000
Gross amount1,914,725,000
Debt discount $ 831,000
Summit Materials, LLC | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Total debt $ 300,000,000
Debt instrument interest rate (as a percent)5.125%5.125%
Senior Notes | Term Loan, due 2024
Debt Instrument [Line Items]
Total debt $ 613,894,000 615,425,000
Gross amount614,700,000 616,300,000
Debt discount800,000 900,000
Senior Notes | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Total debt300,000,000 300,000,000
Senior Notes | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Total debt $ 300,000,000 300,000,000
Debt instrument interest rate (as a percent)6.50%
Senior Notes | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Total debt $ 700,000,000 700,000,000
Debt instrument interest rate (as a percent)5.25%
Senior Notes | Summit Materials, LLC | Term Loan, due 2024
Debt Instrument [Line Items]
Total debt $ 613,894,000 615,425,000
Gross amount614,700,000 616,300,000
Debt discount800,000 900,000
Senior Notes | Summit Materials, LLC | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Total debt300,000,000 300,000,000
Senior Notes | Summit Materials, LLC | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Total debt $ 300,000,000 300,000,000
Debt instrument interest rate (as a percent)6.50%
Senior Notes | Summit Materials, LLC | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Total debt $ 700,000,000 $ 700,000,000
Debt instrument interest rate (as a percent)5.25%

DEBT - Schedule of Contractual

DEBT - Schedule of Contractual Payments of Long-Term Debt (Details) $ in ThousandsApr. 03, 2021USD ($)
Debt Instrument [Line Items]
2021 (nine months) $ 4,765
20226,353
20236,354
2024597,253
2025300,000
20260
Thereafter1,000,000
Total1,914,725
Less: Original issue net discount(831)
Less: Capitalized loan costs(16,018)
Total debt1,897,876
Summit Materials, LLC
Debt Instrument [Line Items]
2021 (nine months)4,765
20226,353
20236,354
2024597,253
2025300,000
20260
Thereafter1,000,000
Total1,914,725
Less: Original issue net discount(831)
Less: Capitalized loan costs(16,018)
Total debt $ 1,897,876

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details) - USD ($)Aug. 11, 2020Mar. 15, 2019Jun. 01, 2017Apr. 03, 2021Jan. 02, 2021
Debt Instrument [Line Items]
Long-term debt $ 1,913,894,000 $ 1,915,425,000
5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Senior notes, interest rate (as a percent)5.125%
Issuers | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term debt $ 700,000,000
Senior notes, interest rate (as a percent)5.25%
Net proceeds from debt issuance $ 690,400,000
Issuers | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt $ 300,000,000
Senior notes, interest rate (as a percent)6.50%
Issuers | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt $ 300,000,000
Senior notes, interest rate (as a percent)5.125%
Percentage of par value of senior notes100.00%
Proceeds net of related fees and expenses $ 295,400,000
Summit Materials, LLC
Debt Instrument [Line Items]
Long-term debt $ 1,913,894,000 1,915,425,000
Summit Materials, LLC | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt $ 300,000,000
Senior notes, interest rate (as a percent)5.125%5.125%
Senior Notes | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term debt $ 700,000,000 700,000,000
Senior notes, interest rate (as a percent)5.25%
Senior Notes | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt $ 300,000,000 300,000,000
Senior notes, interest rate (as a percent)6.50%
Senior Notes | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt $ 300,000,000 300,000,000
Senior Notes | Issuers | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Percentage of par value of senior notes100.00%
Senior Notes | Issuers | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Percentage of par value of senior notes100.00%
Proceeds net of related fees and expenses $ 296,300,000
Senior Notes | Summit Materials, LLC | 5 1/4% Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term debt $ 700,000,000 700,000,000
Senior notes, interest rate (as a percent)5.25%
Senior Notes | Summit Materials, LLC | 6 1/2% Senior Notes, due 2027
Debt Instrument [Line Items]
Long-term debt $ 300,000,000 300,000,000
Senior notes, interest rate (as a percent)6.50%
Senior Notes | Summit Materials, LLC | 5 1/8% Senior Notes, due 2025
Debt Instrument [Line Items]
Long-term debt $ 300,000,000 $ 300,000,000

DEBT - Senior Secured Credit Fa

DEBT - Senior Secured Credit Facilities (Details) - Summit Materials, LLC - USD ($)Feb. 25, 2019Apr. 03, 2021Jan. 02, 2021
Term Loan, due 2024
Debt Instrument [Line Items]
Debt instrument, face amount $ 650,000,000
Quarterly principal repayments percentage0.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity $ 345,000,000
Amount outstanding0 $ 0
Remaining borrowing capacity329,100,000
Revolving Credit Facility | Federal funds rate
Debt Instrument [Line Items]
Basis spread on variable rate0.50%
Revolving Credit Facility | LIBOR Plus 1%
Debt Instrument [Line Items]
Basis spread on variable rate2.00%
Percentage added to base rate1.00%
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate3.00%
Letter of Credit
Debt Instrument [Line Items]
Amount outstanding $ 15,900,000
Senior Secured Credit Facilities
Debt Instrument [Line Items]
First lien leverage ratio4.75

DEBT - Summary of Activity for

DEBT - Summary of Activity for Deferred Financing Fees (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Accumulated Amortization [Roll Forward]
Beginning balance $ 18,367 $ 15,436
Amortization(836)(833)
Ending balance17,531 14,603
Summit Materials, LLC
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Accumulated Amortization [Roll Forward]
Beginning balance18,367 15,436
Amortization(836)(833)
Ending balance $ 17,531 $ 14,603

DEBT - Other (Details)

DEBT - Other (Details) - CAD ($)Jan. 15, 2015Apr. 03, 2021Jan. 02, 2021
Canadian subsidiary credit agreement, Operating activities
Debt Instrument [Line Items]
Revolving credit commitment $ 6,000,000
Canadian subsidiary credit agreement, Capital equipment
Debt Instrument [Line Items]
Revolving credit commitment500,000
Canadian subsidiary credit agreement, Guarantees
Debt Instrument [Line Items]
Revolving credit commitment $ 300,000
Canadian subsidiary credit agreement
Debt Instrument [Line Items]
Amount outstanding $ 0 $ 0
Prime rate | Canadian subsidiary credit agreement, Operating activities
Debt Instrument [Line Items]
Basis spread on variable rate0.20%
Prime rate | Canadian subsidiary credit agreement, Capital equipment
Debt Instrument [Line Items]
Basis spread on variable rate0.90%
Summit Materials, LLC | Canadian subsidiary credit agreement, Operating activities
Debt Instrument [Line Items]
Revolving credit commitment $ 6,000,000
Summit Materials, LLC | Canadian subsidiary credit agreement, Capital equipment
Debt Instrument [Line Items]
Revolving credit commitment500,000
Summit Materials, LLC | Canadian subsidiary credit agreement, Guarantees
Debt Instrument [Line Items]
Revolving credit commitment $ 300,000
Summit Materials, LLC | Canadian subsidiary credit agreement
Debt Instrument [Line Items]
Amount outstanding $ 0 $ 0
Summit Materials, LLC | Prime rate | Canadian subsidiary credit agreement, Operating activities
Debt Instrument [Line Items]
Basis spread on variable rate0.20%
Summit Materials, LLC | Prime rate | Canadian subsidiary credit agreement, Capital equipment
Debt Instrument [Line Items]
Basis spread on variable rate0.90%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)3 Months Ended
Apr. 03, 2021Mar. 28, 2020Jan. 02, 2021
Income Taxes [Line Items]
Income tax benefit $ (5,443,000) $ (22,901,000)
Unrecognized tax benefits, decrease due to CARES Act9,500,000
Valuation allowance1,675,000 $ 1,675,000
Income tax provision, interest or penalties recognized0 0
Deferred tax asset, Investment in limited partnership4,900,000
Tax receivable agreement liability325,832,000 321,680,000
Tax Receivable Agreement
Income Taxes [Line Items]
Tax receivable agreement liability325,800,000 $ 321,700,000
Summit Holdings LP
Income Taxes [Line Items]
Distributions to LP Unitholders $ 0 0
Summit Holdings LP | Tax Receivable Agreement
Income Taxes [Line Items]
Percentage of benefits to be paid on tax receivable agreement85.00%
Summit Materials, LLC
Income Taxes [Line Items]
Income tax benefit $ (836,000)(5,884,000)
Income tax provision, interest or penalties recognized $ 0 $ 0
Common Class A
Income Taxes [Line Items]
Exchanges during period (in shares)711,794 196,542

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Basic to Diluted Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Reconciliation of basic to diluted loss per share
Net loss attributable to Summit Inc. $ (22,517) $ (44,979)
Diluted net loss attributable to Summit Inc. $ (22,517) $ (44,979)
LP Units
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)2,613,209 3,154,228
Add: stock options
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)1,175,135 2,109,465
Warrants
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)43,166 100,037
Time-vesting restricted stock units
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)1,894,877 1,666,365
Market-based restricted stock units
Reconciliation of basic to diluted loss per share
Anti dilutive shares excluded from calculation of earnings per share (in shares)410,357 446,670
Restricted Stock
Reconciliation of basic to diluted loss per share
Weighted Average Number of Shares, Restricted Stock253,521 0
Common Class A
Reconciliation of basic to diluted loss per share
Add: Weighted average shares of Class A stock outstanding (in shares)115,411,204 113,602,110
Weighted average basic shares outstanding (in shares)115,411,204 113,602,110
Basic (usd per share) $ (0.19) $ (0.40)
Add: warrants (in shares)0 0
Weighted average dilutive shares outstanding (in shares)115,411,204 113,602,110
Diluted earnings (loss) per share (usd per share) $ (0.20) $ (0.40)
Common Class A | LP Units
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)0 0
Common Class A | Add: stock options
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)0 0
Common Class A | Add: restricted stock units
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)0 0
Common Class A | Add: performance stock units
Reconciliation of basic to diluted loss per share
Add: share-based payment arrangements (in shares)0 0
Common Class A And Restricted Stock
Reconciliation of basic to diluted loss per share
Add: Weighted average shares of Class A stock outstanding (in shares)115,664,725 113,602,110
Weighted average basic shares outstanding (in shares)115,664,725 113,602,110
Basic (usd per share) $ (0.19) $ (0.40)
Weighted average dilutive shares outstanding (in shares)115,411,204 113,602,110

STOCKHOLDERS' EQUITY_MEMBERS'_3

STOCKHOLDERS' EQUITY/MEMBERS' INTEREST - Equity Offerings (Details) - shares3 Months Ended
Apr. 03, 2021Mar. 28, 2020Jan. 02, 2021Dec. 28, 2019
Common Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)114,390,595 113,309,385
Exchanges during period (in shares)711,794 196,542
Stock option exercises (in shares)863,338 13,335
Other equity transactions (in shares)678,605 591,335
Ending balance (in shares)116,644,332 114,110,597
Summit Materials, Inc. and Summit Holdings, LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)117,263,765 116,559,042
Exchanges during period (in shares)0 0
Stock option exercises (in shares)863,338 13,335
Other equity transactions (in shares)678,605 591,335
Ending balance (in shares)118,805,708 117,163,712
LP Units | Summit Holdings LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Number of LP Units outstanding, beginning balance (in shares)2,873,170 3,249,657
Number of LP Units exchanged (in shares)(711,794)(196,542)
Number of LP Units outstanding, ending balance (in shares)2,161,376 3,053,115
Summit Holdings LP
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling interest elimination (as a percent)1.80%2.50%
Summit Materials Inc
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Ownership percentage98.20%97.40%97.50%97.20%

STOCKHOLDERS' EQUITY_MEMBERS'_4

STOCKHOLDERS' EQUITY/MEMBERS' INTEREST - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Changes in each component of accumulated other comprehensive loss
Beginning balance $ 1,616,268 $ 1,444,773
Foreign currency translation adjustment, net of tax1,635 (6,093)
Ending balance1,614,560 1,395,859
Summit Materials, LLC
Changes in each component of accumulated other comprehensive loss
Foreign currency translation adjustment, net of tax2,126 (8,359)
Change in retirement plans
Changes in each component of accumulated other comprehensive loss
Beginning balance533 2,171
Ending balance533 2,171
Change in retirement plans | Summit Materials, LLC
Changes in each component of accumulated other comprehensive loss
Beginning balance(8,546)(6,317)
Ending balance(8,546)(6,317)
Foreign currency translation adjustments
Changes in each component of accumulated other comprehensive loss
Beginning balance4,670 1,277
Foreign currency translation adjustment, net of tax1,635 (6,093)
Ending balance6,305 (4,816)
Foreign currency translation adjustments | Summit Materials, LLC
Changes in each component of accumulated other comprehensive loss
Beginning balance(10,037)(14,654)
Foreign currency translation adjustment, net of tax2,126 (8,359)
Ending balance(7,911)(23,013)
Accumulated other comprehensive income (loss)
Changes in each component of accumulated other comprehensive loss
Beginning balance5,203 3,448
Ending balance6,838 (2,645)
Accumulated other comprehensive income (loss) | Summit Materials, LLC
Changes in each component of accumulated other comprehensive loss
Beginning balance(18,583)(20,971)
Ending balance $ (16,457) $ (29,330)

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Cash payments:
Interest $ 29,476 $ 36,310
Payments (refunds) for income taxes, net2,312 (298)
Operating cash payments on operating leases2,928 2,948
Operating cash payments on finance leases655 794
Finance cash payments on finance leases5,834 3,883
Non cash financing activities:
Right of use assets obtained in exchange for operating lease obligations3,081 577
Right of use assets obtained in exchange for finance leases obligations588 6,267
Exchange of LP Units to shares of Class A common stock19,784 4,648
Summit Materials, LLC
Cash payments:
Interest29,476 36,310
Payments (refunds) for income taxes, net2,312 (298)
Operating cash payments on operating leases2,928 2,948
Operating cash payments on finance leases655 794
Finance cash payments on finance leases5,834 3,883
Non cash financing activities:
Right of use assets obtained in exchange for operating lease obligations3,081 577
Right of use assets obtained in exchange for finance leases obligations $ 588 $ 6,267

LEASES - Operating and Finance

LEASES - Operating and Finance Leases (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020Jan. 02, 2021
Lease, Cost [Abstract]
Operating lease cost $ 1,727 $ 2,607
Variable lease cost72 57
Short-term lease cost7,301 8,620
Financing lease cost:
Amortization of right-of-use assets3,050 2,739
Interest on lease liabilities657 771
Total lease cost12,807 14,794
Operating leases:
Operating lease right-of-use assets28,796 $ 28,543
Current operating lease liabilities7,480 8,188
Noncurrent operating lease liabilities22,246 21,500
Total operating lease liabilities29,726 29,688
Finance leases:
Property and equipment, gross83,072 92,679
Less accumulated depreciation $ (31,263) $ (32,828)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]Property, plant and equipment and finance lease right-of-use asset, netProperty, plant and equipment and finance lease right-of-use asset, net
Property and equipment, net $ 51,809 $ 59,851
Current finance lease liabilities21,271 24,601
Long-term finance lease liabilities25,718 31,727
Total finance lease liabilities $ 46,989 $ 56,328
Weighted average remaining lease term (years):
Operating leases9 years 3 months 18 days8 years 8 months 12 days
Finance lease2 years 6 months2 years 4 months 24 days
Weighted average discount rate:
Operating leases5.20%5.30%
Finance lease5.20%5.20%
Operating Leases
2021 (nine months) $ 6,427
20226,785
20235,101
20243,167
20252,224
20261,508
Thereafter12,880
Total lease payments38,092
Less imputed interest(8,366)
Finance Leases
2021 (nine months)16,259
202218,777
20237,352
20243,207
20252,580
2026988
Thereafter1,843
Total lease payments51,006
Less imputed interest(4,017)
Summit Materials, LLC
Lease, Cost [Abstract]
Operating lease cost1,727 2,607
Variable lease cost72 57
Short-term lease cost7,301 8,620
Financing lease cost:
Amortization of right-of-use assets3,050 2,739
Interest on lease liabilities657 771
Total lease cost12,807 $ 14,794
Operating leases:
Operating lease right-of-use assets28,796 $ 28,543
Current operating lease liabilities7,480 8,188
Noncurrent operating lease liabilities22,246 21,500
Total operating lease liabilities29,726 29,688
Finance leases:
Property and equipment, gross83,072 92,679
Less accumulated depreciation $ (31,263) $ (32,828)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]Property, plant and equipment and finance lease right-of-use asset, netProperty, plant and equipment and finance lease right-of-use asset, net
Property and equipment, net $ 51,809 $ 59,851
Current finance lease liabilities21,271 24,601
Long-term finance lease liabilities25,718 31,727
Total finance lease liabilities $ 46,989 $ 56,328
Weighted average remaining lease term (years):
Operating leases9 years 3 months 18 days8 years 8 months 12 days
Finance lease2 years 6 months2 years 4 months 24 days
Weighted average discount rate:
Operating leases5.20%5.30%
Finance lease5.20%5.20%
Operating Leases
2021 (nine months) $ 6,427
20226,785
20235,101
20243,167
20252,224
20261,508
Thereafter12,880
Total lease payments38,092
Less imputed interest(8,366)
Finance Leases
2021 (nine months)16,259
202218,777
20237,352
20243,207
20252,580
2026988
Thereafter1,843
Total lease payments51,006
Less imputed interest $ (4,017)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Apr. 03, 2021Jan. 02, 2021
Loss Contingencies [Line Items]
Anticipated costs $ 110.5 $ 112.8
Term of purchase commitments1 year
Site Restoration Obligations | Other noncurrent liabilities
Loss Contingencies [Line Items]
Site restoration obligation, non-current $ 32 33.6
Site Restoration Obligations | Accrued expenses.
Loss Contingencies [Line Items]
Site restoration obligation, current $ 11.5 10
Summit Materials, LLC
Loss Contingencies [Line Items]
Term of purchase commitments1 year
Summit Materials, LLC | Site Restoration Obligations
Loss Contingencies [Line Items]
Anticipated costs $ 110.5 112.8
Summit Materials, LLC | Site Restoration Obligations | Other noncurrent liabilities
Loss Contingencies [Line Items]
Site restoration obligation, non-current32 33.6
Summit Materials, LLC | Site Restoration Obligations | Accrued expenses.
Loss Contingencies [Line Items]
Site restoration obligation, current $ 11.5 $ 10

FAIR VALUE - Fair Value Measure

FAIR VALUE - Fair Value Measurements (Details) - Level 3 $ in Thousands3 Months Ended
Apr. 03, 2021USD ($)Mar. 28, 2020USD ($)Jan. 02, 2021USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of acquisition-related liabilities and accrued expenses - contingent consideration $ 654 $ 654
Acquisition-related liabilities and other noncurrent liabilities - contingent consideration1,120 1,209
Adjustment to contingent consideration0 $ 0
Summit Materials, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of acquisition-related liabilities and accrued expenses - contingent consideration654 654
Acquisition-related liabilities and other noncurrent liabilities - contingent consideration1,120 $ 1,209
Adjustment to contingent consideration $ 0 $ 0
Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration fair value measurement input0.095
Discount Rate | Summit Materials, LLC
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration fair value measurement input0.095

FAIR VALUE - Carrying Value and

FAIR VALUE - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021
Financial Instruments
Current portion of debt $ 6,354 $ 6,354
Summit Materials, LLC
Financial Instruments
Current portion of debt6,354 6,354
Level 1
Financial Instruments
Current portion of debt6,400 6,400
Level 1 | Fair Value
Financial Instruments
Long-term debt1,960,901 1,971,087
Level 1 | Carrying Value
Financial Instruments
Long-term debt1,913,894 1,915,425
Level 1 | Summit Materials, LLC
Financial Instruments
Current portion of debt6,400 6,400
Level 1 | Summit Materials, LLC | Fair Value
Financial Instruments
Long-term debt1,960,901 1,971,087
Level 1 | Summit Materials, LLC | Carrying Value
Financial Instruments
Long-term debt1,913,894 1,915,425
Level 3 | Fair Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations12,718 9,611
Long term portion of deferred consideration and noncompete obligations29,895 11,037
Level 3 | Carrying Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations12,718 9,611
Long term portion of deferred consideration and noncompete obligations29,895 11,037
Level 3 | Summit Materials, LLC | Fair Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations12,718 7,173
Long term portion of deferred consideration and noncompete obligations29,895 11,037
Level 3 | Summit Materials, LLC | Carrying Value
Financial Instruments
Current portion of deferred consideration and noncompete obligations12,718 7,173
Long term portion of deferred consideration and noncompete obligations $ 29,895 $ 11,037

SEGMENT INFORMATION - Financial

SEGMENT INFORMATION - Financial Data (Details) $ in Thousands3 Months Ended
Apr. 03, 2021USD ($)segmentMar. 28, 2020USD ($)Jan. 02, 2021USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment3
Number of reportable segments | segment3
Total revenue $ 427,844 $ 367,190
Loss from operations before taxes(28,688)(69,627)
Interest expense24,186 27,818
Depreciation, depletion and amortization55,570 51,201
Accretion766 577
Gain on sale of business(15,668)0
Non-cash compensation5,363 4,905
Other205 787
Total Adjusted EBITDA41,734 15,661
Total purchases of property, plant and equipment69,757 61,829
Total depreciation, depletion, amortization and accretion56,336 51,778
Total assets4,351,257 $ 4,308,011
Operating segment
Segment Reporting Information [Line Items]
Total purchases of property, plant and equipment69,543 61,376
Total depreciation, depletion, amortization and accretion55,232 50,789
Total assets3,747,443 3,657,959
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA(13,158)(8,819)
Total purchases of property, plant and equipment214 453
Total depreciation, depletion, amortization and accretion1,104 989
Total assets603,814 650,052
West
Segment Reporting Information [Line Items]
Total revenue251,133 196,225
West | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA40,648 22,468
Total purchases of property, plant and equipment34,068 18,896
Total depreciation, depletion, amortization and accretion25,140 21,800
Total assets1,593,869 1,503,382
East
Segment Reporting Information [Line Items]
Total revenue136,042 133,040
Gain on sale of business(15,700)
East | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA11,745 9,573
Total purchases of property, plant and equipment33,202 37,081
Total depreciation, depletion, amortization and accretion21,943 21,096
Total assets1,300,877 1,303,742
Cement
Segment Reporting Information [Line Items]
Total revenue40,669 37,925
Cement | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA2,499 (7,561)
Total purchases of property, plant and equipment2,273 5,399
Total depreciation, depletion, amortization and accretion8,149 7,893
Total assets $ 852,697 850,835
Summit Materials, LLC
Segment Reporting Information [Line Items]
Number of operating segments | segment3
Number of reportable segments | segment3
Total revenue $ 427,844 367,190
Loss from operations before taxes(28,626)(69,509)
Interest expense24,124 27,700
Depreciation, depletion and amortization55,570 51,201
Accretion766 577
Gain on sale of business(15,668)0
Non-cash compensation5,363 4,905
Other205 787
Total Adjusted EBITDA41,734 15,661
Total purchases of property, plant and equipment69,757 61,829
Total depreciation, depletion, amortization and accretion56,336 51,778
Total assets4,111,692 4,077,134
Summit Materials, LLC | Operating segment
Segment Reporting Information [Line Items]
Total purchases of property, plant and equipment69,543 61,376
Total depreciation, depletion, amortization and accretion55,232 50,789
Total assets3,747,443 3,657,959
Summit Materials, LLC | Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA(13,158)(8,819)
Total purchases of property, plant and equipment214 453
Total depreciation, depletion, amortization and accretion1,104 989
Total assets364,249 419,175
Summit Materials, LLC | West
Segment Reporting Information [Line Items]
Total revenue251,133 196,225
Summit Materials, LLC | West | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA40,648 22,468
Total purchases of property, plant and equipment34,068 18,896
Total depreciation, depletion, amortization and accretion25,140 21,800
Total assets1,593,869 1,503,382
Summit Materials, LLC | East
Segment Reporting Information [Line Items]
Total revenue136,042 133,040
Gain on sale of business(15,700)
Summit Materials, LLC | East | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA11,745 9,573
Total purchases of property, plant and equipment33,202 37,081
Total depreciation, depletion, amortization and accretion21,943 21,096
Total assets1,300,877 1,303,742
Summit Materials, LLC | Cement
Segment Reporting Information [Line Items]
Total revenue40,669 37,925
Summit Materials, LLC | Cement | Operating segment
Segment Reporting Information [Line Items]
Total Adjusted EBITDA2,499 (7,561)
Total purchases of property, plant and equipment2,273 5,399
Total depreciation, depletion, amortization and accretion8,149 $ 7,893
Total assets $ 852,697 $ 850,835

GUARANTOR AND NON-GUARANTOR F_3

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - Schedule of Condensed Consolidating Balance Sheets (Details) - USD ($) $ in ThousandsApr. 03, 2021Jan. 02, 2021Mar. 28, 2020Dec. 28, 2019
Current assets:
Cash and cash equivalents $ 359,741 $ 418,181
Accounts receivable, net250,058 254,696
Cost and estimated earnings in excess of billings17,124 8,666
Inventories210,934 200,308
Other current assets20,578 11,428
Total current assets858,435 893,279
Property, plant and equipment and finance lease right-of-use asset, net1,897,117 1,850,169
Goodwill1,201,426 1,201,291
Intangible assets, net71,486 47,852
Operating lease right-of-use assets28,796 28,543
Other assets53,432 55,000
Total assets4,351,257 4,308,011
Current liabilities:
Current portion of debt6,354 6,354
Current portion of acquisition-related liabilities13,372 10,265
Accounts payable150,243 120,813
Accrued expenses130,338 160,570
Current operating lease liabilities7,480 8,188
Billings in excess of costs and estimated earnings13,930 16,499
Total current liabilities321,717 322,689
Long-term debt1,891,522 1,892,347
Acquisition-related liabilities31,015 12,246
Noncurrent operating lease liabilities22,246 21,500
Other noncurrent liabilities144,365 121,281
Total liabilities2,736,697 2,691,743
Total liabilities and stockholders’ equity/member's interest4,351,257 4,308,011
Summit Materials, LLC
Current assets:
Cash and cash equivalents359,741 418,181
Accounts receivable, net250,058 254,696
Intercompany receivables0 0
Cost and estimated earnings in excess of billings17,124 8,666
Inventories210,934 200,308
Other current assets20,578 11,428
Total current assets858,435 893,279
Property, plant and equipment and finance lease right-of-use asset, net1,897,117 1,850,169
Goodwill1,202,426 1,202,291
Intangible assets, net71,486 47,852
Operating lease right-of-use assets28,796 28,543
Other assets53,432 55,000
Total assets4,111,692 4,077,134
Current liabilities:
Current portion of debt6,354 6,354
Current portion of acquisition-related liabilities13,372 7,827
Accounts payable150,854 121,422
Accrued expenses130,568 160,801
Current operating lease liabilities7,480 8,188
Intercompany payables0 0
Billings in excess of costs and estimated earnings13,930 16,499
Total current liabilities322,558 321,091
Long-term debt1,891,522 1,892,347
Acquisition-related liabilities31,015 12,246
Noncurrent operating lease liabilities22,246 21,500
Other noncurrent liabilities188,880 167,182
Total liabilities2,456,221 2,414,366
Total member's interest1,655,471 1,662,768 $ 1,442,973 $ 1,513,150
Total liabilities and stockholders’ equity/member's interest4,111,692 4,077,134
Summit Materials, LLC | Eliminations
Current assets:
Cash and cash equivalents(2,618)(3,641)
Accounts receivable, net(213)109
Intercompany receivables(1,700,861)(1,707,752)
Cost and estimated earnings in excess of billings0 0
Inventories0 0
Other current assets0 0
Total current assets(1,703,692)(1,711,284)
Property, plant and equipment and finance lease right-of-use asset, net0 0
Goodwill0 0
Intangible assets, net0 0
Operating lease right-of-use assets0 0
Other assets(4,206,175)(4,175,921)
Total assets(5,909,867)(5,887,205)
Current liabilities:
Current portion of debt0 0
Current portion of acquisition-related liabilities0 0
Accounts payable(213)109
Accrued expenses(2,618)(3,641)
Current operating lease liabilities0 0
Intercompany payables(1,700,861)(1,707,752)
Billings in excess of costs and estimated earnings0 0
Total current liabilities(1,703,692)(1,711,284)
Long-term debt0 0
Acquisition-related liabilities0 0
Noncurrent operating lease liabilities0 0
Other noncurrent liabilities(164,421)(164,421)
Total liabilities(1,868,113)(1,875,705)
Total member's interest(4,041,754)(4,011,500)
Total liabilities and stockholders’ equity/member's interest(5,909,867)(5,887,205)
Summit Materials, LLC | Issuers | Reportable Legal Entities
Current assets:
Cash and cash equivalents345,936 401,074
Accounts receivable, net0 4
Intercompany receivables394,071 404,459
Cost and estimated earnings in excess of billings0 0
Inventories0 0
Other current assets2,885 2,840
Total current assets742,892 808,377
Property, plant and equipment and finance lease right-of-use asset, net8,521 9,410
Goodwill0 0
Intangible assets, net0 0
Operating lease right-of-use assets2,434 2,615
Other assets4,050,562 4,022,729
Total assets4,804,409 4,843,131
Current liabilities:
Current portion of debt6,354 6,354
Current portion of acquisition-related liabilities0 0
Accounts payable3,412 3,889
Accrued expenses44,914 54,108
Current operating lease liabilities931 913
Intercompany payables1,194,001 1,215,043
Billings in excess of costs and estimated earnings0 0
Total current liabilities1,249,612 1,280,307
Long-term debt1,891,522 1,892,347
Acquisition-related liabilities0 0
Noncurrent operating lease liabilities2,327 2,567
Other noncurrent liabilities5,477 5,142
Total liabilities3,148,938 3,180,363
Total member's interest1,655,471 1,662,768
Total liabilities and stockholders’ equity/member's interest4,804,409 4,843,131
Summit Materials, LLC | 100% Owned Guarantors | Reportable Legal Entities
Current assets:
Cash and cash equivalents4,396 10,287
Accounts receivable, net229,444 230,199
Intercompany receivables1,306,790 1,303,293
Cost and estimated earnings in excess of billings15,818 7,504
Inventories204,039 193,417
Other current assets15,160 6,797
Total current assets1,775,647 1,751,497
Property, plant and equipment and finance lease right-of-use asset, net1,796,487 1,746,045
Goodwill1,141,412 1,142,083
Intangible assets, net66,362 47,852
Operating lease right-of-use assets22,358 21,880
Other assets208,521 207,699
Total assets5,010,787 4,917,056
Current liabilities:
Current portion of debt0 0
Current portion of acquisition-related liabilities13,372 7,827
Accounts payable137,018 108,805
Accrued expenses85,627 106,320
Current operating lease liabilities5,932 6,114
Intercompany payables500,244 485,401
Billings in excess of costs and estimated earnings13,350 15,508
Total current liabilities755,543 729,975
Long-term debt0 0
Acquisition-related liabilities31,015 12,246
Noncurrent operating lease liabilities16,759 16,062
Other noncurrent liabilities229,622 208,540
Total liabilities1,032,939 966,823
Total member's interest3,977,848 3,950,233
Total liabilities and stockholders’ equity/member's interest5,010,787 4,917,056
Summit Materials, LLC | Non-Guarantors | Reportable Legal Entities
Current assets:
Cash and cash equivalents12,027 10,461
Accounts receivable, net20,827 24,384
Intercompany receivables0 0
Cost and estimated earnings in excess of billings1,306 1,162
Inventories6,895 6,891
Other current assets2,533 1,791
Total current assets43,588 44,689
Property, plant and equipment and finance lease right-of-use asset, net92,109 94,714
Goodwill61,014 60,208
Intangible assets, net5,124 0
Operating lease right-of-use assets4,004 4,048
Other assets524 493
Total assets206,363 204,152
Current liabilities:
Current portion of debt0 0
Current portion of acquisition-related liabilities0 0
Accounts payable10,637 8,619
Accrued expenses2,645 4,014
Current operating lease liabilities617 1,161
Intercompany payables6,616 7,308
Billings in excess of costs and estimated earnings580 991
Total current liabilities21,095 22,093
Long-term debt0 0
Acquisition-related liabilities0 0
Noncurrent operating lease liabilities3,160 2,871
Other noncurrent liabilities118,202 117,921
Total liabilities142,457 142,885
Total member's interest63,906 61,267
Total liabilities and stockholders’ equity/member's interest $ 206,363 $ 204,152

GUARANTOR AND NON-GUARANTOR F_4

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - Schedule of Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Condensed Consolidating Statements of Operations
Revenue $ 427,844 $ 367,190
Cost of revenue (excluding items shown separately below)346,694 317,363
Depreciation, depletion, amortization and accretion56,336 51,778
Operating loss(25,059)(41,720)
Gain on sale of business(15,668)0
Loss from operations before taxes(28,688)(69,627)
Income tax expense(5,443)(22,901)
Net income (loss) attributable to Summit Inc/LLC(22,517)(44,979)
Comprehensive loss attributable to member of Summit Materials, LLC(20,882)(51,072)
Summit Materials, LLC
Condensed Consolidating Statements of Operations
Revenue427,844 367,190
Cost of revenue (excluding items shown separately below)346,694 317,363
General and administrative expenses49,873 39,769
Depreciation, depletion, amortization and accretion56,336 51,778
Operating loss(25,059)(41,720)
Other (income) loss, net(4,889)89
Interest expense (income)24,124 27,700
Gain on sale of business(15,668)0
Loss from operations before taxes(28,626)(69,509)
Income tax expense(836)(5,884)
Net income (loss) attributable to Summit Inc/LLC(27,790)(63,625)
Comprehensive loss attributable to member of Summit Materials, LLC(25,664)(71,984)
Summit Materials, LLC | Eliminations
Condensed Consolidating Statements of Operations
Revenue(2,268)(3,333)
Cost of revenue (excluding items shown separately below)(2,268)(3,333)
General and administrative expenses0 0
Depreciation, depletion, amortization and accretion0 0
Operating loss0 0
Other (income) loss, net25,489 (16,068)
Interest expense (income)0 0
Gain on sale of business0
Loss from operations before taxes(25,489)16,068
Income tax expense0 0
Net income (loss) attributable to Summit Inc/LLC(25,489)16,068
Comprehensive loss attributable to member of Summit Materials, LLC(23,363)7,709
Issuers | Summit Materials, LLC | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Revenue0 0
Cost of revenue (excluding items shown separately below)0 0
General and administrative expenses18,591 13,830
Depreciation, depletion, amortization and accretion1,104 989
Operating loss(19,695)(14,819)
Other (income) loss, net(25,560)15,292
Interest expense (income)33,291 33,214
Gain on sale of business0
Loss from operations before taxes(27,426)(63,325)
Income tax expense364 300
Net income (loss) attributable to Summit Inc/LLC(27,790)(63,625)
Comprehensive loss attributable to member of Summit Materials, LLC(25,664)(71,984)
100% Owned Guarantors | Summit Materials, LLC | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Revenue407,301 354,330
Cost of revenue (excluding items shown separately below)331,844 308,110
General and administrative expenses29,849 24,209
Depreciation, depletion, amortization and accretion52,566 49,473
Operating loss(6,958)(27,462)
Other (income) loss, net(4,337)(306)
Interest expense (income)(10,543)(6,714)
Gain on sale of business(15,668)
Loss from operations before taxes23,590 (20,442)
Income tax expense(1,385)(5,717)
Net income (loss) attributable to Summit Inc/LLC24,975 (14,725)
Comprehensive loss attributable to member of Summit Materials, LLC24,975 (14,725)
Non-Guarantors | Summit Materials, LLC | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Revenue22,811 16,193
Cost of revenue (excluding items shown separately below)17,118 12,586
General and administrative expenses1,433 1,730
Depreciation, depletion, amortization and accretion2,666 1,316
Operating loss1,594 561
Other (income) loss, net(481)1,171
Interest expense (income)1,376 1,200
Gain on sale of business0
Loss from operations before taxes699 (1,810)
Income tax expense185 (467)
Net income (loss) attributable to Summit Inc/LLC514 (1,343)
Comprehensive loss attributable to member of Summit Materials, LLC $ (1,612) $ 7,016

GUARANTOR AND NON-GUARANTOR F_5

GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION - Schedule of Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands3 Months Ended
Apr. 03, 2021Mar. 28, 2020
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities $ (21,318) $ (38,931)
Cash flow from investing activities:
Purchase of property, plant and equipment(69,757)(61,829)
Proceeds from the sale of property, plant, and equipment2,663 3,160
Proceeds from sale of business33,077 0
Other(483)1,801
Net cash used for investing activities(34,500)(56,868)
Cash flow from financing activities:
Payments on long-term debt(10,170)(5,493)
Payments on acquisition-related liabilities(8,096)(9,515)
Other(416)(908)
Net cash used in financing activities(2,762)(15,606)
Impact of foreign currency on cash140 (800)
Net (decrease) increase in cash(58,440)(112,205)
Cash and cash equivalents—beginning of period418,181 311,319
Cash and cash equivalents—end of period359,741 199,114
Summit Materials, LLC
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities(21,318)(38,931)
Cash flow from investing activities:
Purchase of property, plant and equipment(69,757)(61,829)
Proceeds from the sale of property, plant, and equipment2,663 3,160
Proceeds from sale of business33,077 0
Other(483)1,801
Net cash used for investing activities(34,500)(56,868)
Cash flow from financing activities:
Proceeds from investment by member15,920 310
Loans received from and payments made on loans from other Summit Companies0 0
Payments on long-term debt(10,170)(5,493)
Payments on acquisition-related liabilities(5,596)(7,015)
Distributions from partnership(2,500)(2,500)
Other(416)(908)
Net cash used in financing activities(2,762)(15,606)
Impact of foreign currency on cash140 (800)
Net (decrease) increase in cash(58,440)(112,205)
Cash and cash equivalents—beginning of period418,181 311,319
Cash and cash equivalents—end of period359,741 199,114
Summit Materials, LLC | Eliminations
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities0 0
Cash flow from investing activities:
Purchase of property, plant and equipment0 0
Proceeds from the sale of property, plant, and equipment0 0
Proceeds from sale of business0
Other0 0
Net cash used for investing activities0 0
Cash flow from financing activities:
Proceeds from investment by member0 0
Loans received from and payments made on loans from other Summit Companies1,023 2,790
Payments on long-term debt0 0
Payments on acquisition-related liabilities0 0
Distributions from partnership0 0
Other0 0
Net cash used in financing activities1,023 2,790
Impact of foreign currency on cash0 0
Net (decrease) increase in cash1,023 2,790
Cash and cash equivalents—beginning of period(3,641)(6,477)
Cash and cash equivalents—end of period(2,618)(3,687)
Summit Materials, LLC | Issuers | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities(44,988)(51,401)
Cash flow from investing activities:
Purchase of property, plant and equipment(215)(454)
Proceeds from the sale of property, plant, and equipment0 0
Proceeds from sale of business0
Other0 0
Net cash used for investing activities(215)(454)
Cash flow from financing activities:
Proceeds from investment by member15,920 310
Loans received from and payments made on loans from other Summit Companies(21,350)(55,225)
Payments on long-term debt(1,589)(1,588)
Payments on acquisition-related liabilities0 0
Distributions from partnership(2,500)(2,500)
Other(416)(822)
Net cash used in financing activities(9,935)(59,825)
Impact of foreign currency on cash0 0
Net (decrease) increase in cash(55,138)(111,680)
Cash and cash equivalents—beginning of period401,074 302,474
Cash and cash equivalents—end of period345,936 190,794
Summit Materials, LLC | 100% Owned Guarantors | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities18,590 10,349
Cash flow from investing activities:
Purchase of property, plant and equipment(67,795)(60,423)
Proceeds from the sale of property, plant, and equipment2,457 3,140
Proceeds from sale of business33,077
Other(483)1,801
Net cash used for investing activities(32,744)(55,482)
Cash flow from financing activities:
Proceeds from investment by member0 0
Loans received from and payments made on loans from other Summit Companies22,390 52,247
Payments on long-term debt(8,531)(3,856)
Payments on acquisition-related liabilities(5,596)(7,015)
Distributions from partnership0 0
Other0 (86)
Net cash used in financing activities8,263 41,290
Impact of foreign currency on cash0 0
Net (decrease) increase in cash(5,891)(3,843)
Cash and cash equivalents—beginning of period10,287 5,488
Cash and cash equivalents—end of period4,396 1,645
Summit Materials, LLC | Non-Guarantors | Reportable Legal Entities
Condensed Consolidating Statements of Operations
Net cash (used in) provided by operating activities5,080 2,121
Cash flow from investing activities:
Purchase of property, plant and equipment(1,747)(952)
Proceeds from the sale of property, plant, and equipment206 20
Proceeds from sale of business0
Other0 0
Net cash used for investing activities(1,541)(932)
Cash flow from financing activities:
Proceeds from investment by member0 0
Loans received from and payments made on loans from other Summit Companies(2,063)188
Payments on long-term debt(50)(49)
Payments on acquisition-related liabilities0 0
Distributions from partnership0 0
Other0 0
Net cash used in financing activities(2,113)139
Impact of foreign currency on cash140 (800)
Net (decrease) increase in cash1,566 528
Cash and cash equivalents—beginning of period10,461 9,834
Cash and cash equivalents—end of period $ 12,027 $ 10,362