| Schedule of Error Corrections and Prior Period Adjustments |
The impacts of these corrections to fiscal years 2018 and 2019 are as follows:
Consolidated Statement of Comprehensive Loss
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Year Ended December 28, 2019 |
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Year Ended December 29, 2018 |
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As Reported |
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Restatement Adjustments |
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As Restated |
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As Reported |
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Restatement Adjustments |
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As Restated |
| Income tax (benefit) expense |
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$ |
(5,370) |
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$ |
(17,907) |
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$ |
(23,277) |
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$ |
2,070 |
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$ |
(10,960) |
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$ |
(8,890) |
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| Net loss |
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(103,386) |
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17,907 |
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(85,479) |
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(69,641) |
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10,960 |
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(58,681) |
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| Comprehensive loss |
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(97,836) |
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17,907 |
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(79,929) |
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(80,694) |
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10,960 |
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(69,734) |
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Consolidated Balance Sheets
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Year Ended December 28, 2019 |
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Year Ended December 29, 2018 |
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As Reported |
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Restatement Adjustments |
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As Restated |
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As Reported |
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Restatement Adjustments |
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As Restated |
Goodwill (1)
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$ |
819,077 |
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$ |
(3,227) |
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$ |
815,850 |
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$ |
803,847 |
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$ |
(3,227) |
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$ |
800,620 |
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| Total Assets |
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2,441,210 |
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(3,227) |
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2,437,983 |
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2,431,470 |
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(3,227) |
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2,428,243 |
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| Deferred tax liabilities |
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196,437 |
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(32,094) |
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164,343 |
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200,696 |
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(14,187) |
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186,509 |
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| Total liabilities |
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2,096,108 |
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(32,094) |
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2,064,014 |
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1,992,363 |
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(14,187) |
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1,978,176 |
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| Accumulated deficit |
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(176,217) |
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28,867 |
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(147,350) |
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(72,831) |
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10,960 |
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(61,871) |
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| Total stockholder's equity |
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345,102 |
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28,867 |
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373,969 |
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439,107 |
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10,960 |
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450,067 |
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| Total liabilities and stockholder's equity |
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2,441,210 |
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(3,227) |
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2,437,983 |
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2,431,470 |
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(3,227) |
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2,428,243 |
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(1)The Company incorrectly established a valuation allowance on deferred taxes related to the interest limitations from the MinuteKey and Big Time Products acquisitions in 2018 during purchase accounting through goodwill. The correction of the error resulted in a reduction of goodwill of $1,160 for MinuteKey and $2,067 for Big Time Products.
Consolidated Statements of Cash Flows
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Year Ended December 28, 2019 |
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Year Ended December 29, 2018 |
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As Reported |
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Restatement Adjustments |
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As Restated |
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As Reported |
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Restatement Adjustments |
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As Restated |
| Cash flows from operating activities: |
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| Net loss |
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(103,386) |
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17,907 |
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(85,479) |
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(69,641) |
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10,960 |
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(58,681) |
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| Deferred income taxes |
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(5,679) |
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(17,907) |
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(23,586) |
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394 |
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(10,960) |
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(10,566) |
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| Net cash provided by operating activities |
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52,359 |
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— |
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52,359 |
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7,547 |
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— |
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7,547 |
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