Quarterly report pursuant to Section 13 or 15(d)

5. Variable Interest Entity (Tables)

v3.7.0.1
5. Variable Interest Entity (Tables)
6 Months Ended
Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Assets and liabilities of AAP

The following table summarizes the assets and liabilities of AAP as of July 1, 2017 and December 31, 2016:

 

    July 1,
2017
    December 31,
2016
 
Assets                
Current assets   $ 293     $ 438  
Property and equipment, net     6,933       7,322  
Other assets     93       83  
Total assets   $ 7,319     $ 7,843  
                 
Liabilities                
Accounts payable   $ 2,569     $ 1,388  
Accrued expenses     585       523  
Current maturities of long-term debt obligations     728       3,558  
Long-term debt obligations, net of current maturities     3,166       435  
Other liabilities (a)     289       1,126  
Total liabilities   $ 7,337     $ 7,030  

 

(a)    Other liabilities represent loans and advances between ARCA and AAP that are eliminated in consolidation.

 

The following table summarizes the operating results of AAP for the 13 weeks and 26 weeks ended July 1, 2017, and July 2, 2016, respectively:

 

    13 Weeks Months Ended  
    July 1, 2017     July 2, 2016  
Revenues   $ 642     $ 1,695  
Gross profit     100       319  
Operating loss     (236 )     (93 )
Net loss     (299 )     (159 )

 

 

    26 Weeks Ended  
    July 1, 2017     July 2, 2016  
Revenues   $ 1,127     $ 3,480  
Gross profit     (14 )     475  
Operating loss     (708 )     (364 )
Net loss     (826 )     (514 )