Supplemental Condensed Consolidating Balance Sheet |
Supplemental Condensed Consolidating Balance Sheet as of March 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
8,497 |
|
|
$ |
15,355 |
|
|
$ |
1,180 |
|
|
$ |
— |
|
|
$ |
25,032 |
|
Receivables: |
|
|
|
|
|
|
|
|
|
|
Trade, net of allowance for doubtful accounts of $2,817 |
|
— |
|
|
40,436 |
|
|
325 |
|
|
— |
|
|
40,761 |
|
Other |
|
363 |
|
|
16,416 |
|
|
— |
|
|
(363 |
) |
|
16,416 |
|
Intercompany receivables |
|
555,136 |
|
|
— |
|
|
— |
|
|
(555,136 |
) |
|
— |
|
Inventories, net |
|
— |
|
|
26,696 |
|
|
— |
|
|
— |
|
|
26,696 |
|
Deferred income taxes |
|
5,467 |
|
|
— |
|
|
— |
|
|
(1,825 |
) |
|
3,642 |
|
Prepaid expenses and other |
|
38 |
|
|
2,677 |
|
|
— |
|
|
— |
|
|
2,715 |
|
Total current assets |
|
569,501 |
|
|
101,580 |
|
|
1,505 |
|
|
(557,324 |
) |
|
115,262 |
|
Property and Equipment: |
|
|
|
|
|
|
|
|
|
|
Helicopters |
|
— |
|
|
883,402 |
|
|
11,500 |
|
|
— |
|
|
894,902 |
|
Construction in progress |
|
— |
|
|
16,793 |
|
|
— |
|
|
— |
|
|
16,793 |
|
Machinery, equipment and spares |
|
— |
|
|
71,967 |
|
|
— |
|
|
— |
|
|
71,967 |
|
Buildings and leasehold improvements |
|
— |
|
|
25,585 |
|
|
— |
|
|
— |
|
|
25,585 |
|
Furniture, fixtures, vehicles and other |
|
— |
|
|
12,206 |
|
|
— |
|
|
— |
|
|
12,206 |
|
|
|
— |
|
|
1,009,953 |
|
|
11,500 |
|
|
— |
|
|
1,021,453 |
|
Accumulated depreciation |
|
— |
|
|
(245,290 |
) |
|
(1,208 |
) |
|
— |
|
|
(246,498 |
) |
|
|
— |
|
|
764,663 |
|
|
10,292 |
|
|
— |
|
|
774,955 |
|
Investments, at Equity, and Advances to 50% or Less Owned Companies |
|
— |
|
|
34,705 |
|
|
— |
|
|
— |
|
|
34,705 |
|
Investments, at Equity in Consolidated Subsidiaries |
|
100,206 |
|
|
9,572 |
|
|
— |
|
|
(109,778 |
) |
|
— |
|
Goodwill |
|
— |
|
|
352 |
|
|
— |
|
|
— |
|
|
352 |
|
Other Assets |
|
6,028 |
|
|
11,802 |
|
|
— |
|
|
— |
|
|
17,830 |
|
Total Assets |
|
$ |
675,735 |
|
|
$ |
922,674 |
|
|
$ |
11,797 |
|
|
$ |
(667,102 |
) |
|
$ |
943,104 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
1,759 |
|
|
$ |
11,222 |
|
|
$ |
145 |
|
|
$ |
— |
|
|
$ |
13,126 |
|
Accrued wages and benefits |
|
— |
|
|
7,662 |
|
|
— |
|
|
— |
|
|
7,662 |
|
Accrued interest |
|
5,192 |
|
|
21 |
|
|
— |
|
|
— |
|
|
5,213 |
|
Intercompany payables |
|
— |
|
|
545,852 |
|
|
11,125 |
|
|
(556,977 |
) |
|
— |
|
Due to SEACOR, net |
|
270 |
|
|
— |
|
|
— |
|
|
— |
|
|
270 |
|
Current portion of long-term debt |
|
— |
|
|
2,787 |
|
|
— |
|
|
— |
|
|
2,787 |
|
Other current liabilities |
|
— |
|
|
4,347 |
|
|
325 |
|
|
(363 |
) |
|
4,309 |
|
Total current liabilities |
|
7,221 |
|
|
571,891 |
|
|
11,595 |
|
|
(557,340 |
) |
|
33,367 |
|
Long-Term Debt |
|
246,693 |
|
|
29,614 |
|
|
— |
|
|
— |
|
|
276,307 |
|
Deferred Income Taxes |
|
— |
|
|
205,761 |
|
|
— |
|
|
(2,418 |
) |
|
203,343 |
|
Deferred Gains and Other Liabilities |
|
— |
|
|
6,601 |
|
|
— |
|
|
1,563 |
|
|
8,164 |
|
Total liabilities |
|
253,914 |
|
|
813,867 |
|
|
11,595 |
|
|
(558,195 |
) |
|
521,181 |
|
|
|
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
|
|
|
|
Era Group Inc. stockholders' equity: |
|
|
|
|
|
|
|
|
|
|
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,123,639 issued in 2013; none issued in 2012 |
|
201 |
|
|
— |
|
|
— |
|
|
— |
|
|
201 |
|
Additional paid-in capital |
|
419,036 |
|
|
109,707 |
|
|
496 |
|
|
(110,203 |
) |
|
419,036 |
|
Retained earnings (accumulated deficit) |
|
2,669 |
|
|
(1,002 |
) |
|
(294 |
) |
|
1,296 |
|
|
2,669 |
|
Accumulated other comprehensive loss, net of tax |
|
(85 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(85 |
) |
|
|
421,821 |
|
|
108,705 |
|
|
202 |
|
|
(108,907 |
) |
|
421,821 |
|
Noncontrolling interest in subsidiary |
|
— |
|
|
102 |
|
|
— |
|
|
— |
|
|
102 |
|
Total equity |
|
421,821 |
|
|
108,807 |
|
|
202 |
|
|
(108,907 |
) |
|
421,923 |
|
Total Liabilities and Stockholders’ Equity
|
|
$ |
675,735 |
|
|
$ |
922,674 |
|
|
$ |
11,797 |
|
|
$ |
(667,102 |
) |
|
$ |
943,104 |
|
Supplemental Condensed Consolidating Balance Sheet as of December 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
2,258 |
|
|
$ |
8,558 |
|
|
$ |
689 |
|
|
$ |
— |
|
|
$ |
11,505 |
|
Receivables: |
|
|
|
|
|
|
|
|
|
|
Trade, net of allowance for doubtful accounts of $2,668 |
|
— |
|
|
48,217 |
|
|
310 |
|
|
— |
|
|
48,527 |
|
Other |
|
— |
|
|
3,742 |
|
|
— |
|
|
— |
|
|
3,742 |
|
Due from SEACOR and affiliates |
|
561,298 |
|
|
— |
|
|
— |
|
|
(560,327 |
) |
|
971 |
|
Inventories, net |
|
— |
|
|
26,650 |
|
|
— |
|
|
— |
|
|
26,650 |
|
Deferred income taxes |
|
4,625 |
|
|
— |
|
|
— |
|
|
(983 |
) |
|
3,642 |
|
Prepaid expenses and other |
|
— |
|
|
1,803 |
|
|
— |
|
|
— |
|
|
1,803 |
|
Total current assets |
|
568,181 |
|
|
88,970 |
|
|
999 |
|
|
(561,310 |
) |
|
96,840 |
|
Property and Equipment: |
|
|
|
|
|
|
|
|
|
|
Helicopters |
|
— |
|
|
886,111 |
|
|
11,500 |
|
|
— |
|
|
897,611 |
|
Construction in progress |
|
— |
|
|
22,644 |
|
|
— |
|
|
— |
|
|
22,644 |
|
Machinery, equipment and spares |
|
— |
|
|
72,161 |
|
|
— |
|
|
— |
|
|
72,161 |
|
Buildings and leasehold improvements |
|
— |
|
|
25,451 |
|
|
— |
|
|
— |
|
|
25,451 |
|
Furniture, fixtures, vehicles and other |
|
— |
|
|
12,409 |
|
|
— |
|
|
— |
|
|
12,409 |
|
|
|
— |
|
|
1,018,776 |
|
|
11,500 |
|
|
— |
|
|
1,030,276 |
|
Accumulated depreciation |
|
— |
|
|
(241,436 |
) |
|
(1,035 |
) |
|
— |
|
|
(242,471 |
) |
|
|
— |
|
|
777,340 |
|
|
10,465 |
|
|
— |
|
|
787,805 |
|
Investments, at Equity, and Advances to 50% or Less Owned Companies |
|
— |
|
|
34,696 |
|
|
— |
|
|
— |
|
|
34,696 |
|
Investments, at Equity in Consolidated Subsidiaries |
|
100,101 |
|
|
9,782 |
|
|
— |
|
|
(109,883 |
) |
|
— |
|
Goodwill |
|
— |
|
|
352 |
|
|
— |
|
|
— |
|
|
352 |
|
Other Assets |
|
5,958 |
|
|
24,374 |
|
|
— |
|
|
(12,461 |
) |
|
17,871 |
|
Total Assets |
|
$ |
674,240 |
|
|
$ |
935,514 |
|
|
$ |
11,464 |
|
|
$ |
(683,654 |
) |
|
$ |
937,564 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
— |
|
|
$ |
15,618 |
|
|
$ |
85 |
|
|
$ |
— |
|
|
$ |
15,703 |
|
Accrued wages and benefits |
|
— |
|
|
4,576 |
|
|
— |
|
|
— |
|
|
4,576 |
|
Accrued interest |
|
1,357 |
|
|
44 |
|
|
— |
|
|
— |
|
|
1,401 |
|
Intercompany payables |
|
5,491 |
|
|
560,323 |
|
|
10,965 |
|
|
(576,779 |
) |
|
— |
|
Current portion of long-term debt |
|
— |
|
|
2,787 |
|
|
— |
|
|
— |
|
|
2,787 |
|
Other current liabilities |
|
1,445 |
|
|
3,787 |
|
|
— |
|
|
— |
|
|
5,232 |
|
Total current liabilities |
|
8,293 |
|
|
587,135 |
|
|
11,050 |
|
|
(576,779 |
) |
|
29,699 |
|
Long-Term Debt |
|
246,637 |
|
|
30,311 |
|
|
— |
|
|
— |
|
|
276,948 |
|
Deferred Income Taxes |
|
— |
|
|
204,520 |
|
|
— |
|
|
(984 |
) |
|
203,536 |
|
Deferred Gains and Other Liabilities |
|
— |
|
|
7,864 |
|
|
— |
|
|
— |
|
|
7,864 |
|
Total liabilities |
|
254,930 |
|
|
829,830 |
|
|
11,050 |
|
|
(577,763 |
) |
|
518,047 |
|
Preferred Stock, $0.01 par value, 10,000,000 shares authorized: |
|
|
|
|
|
|
|
|
|
|
Series A Preferred Stock, at redemption value; 1,400,000 shares issued |
|
144,232 |
|
|
— |
|
|
— |
|
|
— |
|
|
144,232 |
|
Equity: |
|
|
|
|
|
|
|
|
|
|
Era Group Inc. stockholders' equity: |
|
|
|
|
|
|
|
|
|
|
Class A common stock, $0.01 par value, 60,000,000 shares authorized; none issued |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Class B common stock, $0.01 par value, 60,000,000 shares authorized; 24,500,000 issued |
|
245 |
|
|
— |
|
|
— |
|
|
— |
|
|
245 |
|
Additional paid-in capital |
|
278,838 |
|
|
109,674 |
|
|
496 |
|
|
(110,170 |
) |
|
278,838 |
|
Retained earnings (accumulated deficit) |
|
(4,025 |
) |
|
(4,217 |
) |
|
(82 |
) |
|
4,299 |
|
|
(4,025 |
) |
Accumulated other comprehensive income (loss), net of tax |
|
20 |
|
|
20 |
|
|
— |
|
|
(20 |
) |
|
20 |
|
|
|
275,078 |
|
|
105,477 |
|
|
414 |
|
|
(105,891 |
) |
|
275,078 |
|
Noncontrolling interest in subsidiary |
|
— |
|
|
207 |
|
|
— |
|
|
— |
|
|
207 |
|
Total equity |
|
275,078 |
|
|
105,684 |
|
|
414 |
|
|
(105,891 |
) |
|
275,285 |
|
Total Liabilities and Stockholders’ Equity |
|
$ |
674,240 |
|
|
$ |
935,514 |
|
|
$ |
11,464 |
|
|
$ |
(683,654 |
) |
|
$ |
937,564 |
|
|
Supplemental Condensed Consolidating Statement of Operations |
Supplemental Condensed Consolidating Statement of Operations for the Three Months Ended March 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
Operating Revenues |
|
$ |
— |
|
|
$ |
67,372 |
|
|
$ |
355 |
|
|
$ |
— |
|
|
$ |
67,727 |
|
Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
Operating |
|
— |
|
|
42,882 |
|
|
234 |
|
|
— |
|
|
43,116 |
|
Administrative and general |
|
1,296 |
|
|
7,838 |
|
|
— |
|
|
— |
|
|
9,134 |
|
Depreciation |
|
— |
|
|
11,489 |
|
|
172 |
|
|
— |
|
|
11,661 |
|
|
|
1,296 |
|
|
62,209 |
|
|
406 |
|
|
— |
|
|
63,911 |
|
Gains on Asset Dispositions and Impairments, Net |
|
— |
|
|
10,801 |
|
|
— |
|
|
— |
|
|
10,801 |
|
Operating Income (Loss) |
|
(1,296 |
) |
|
15,964 |
|
|
(51 |
) |
|
— |
|
|
14,617 |
|
Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
Interest income |
|
16 |
|
|
130 |
|
|
1 |
|
|
— |
|
|
147 |
|
Interest expense |
|
(4,473 |
) |
|
(259 |
) |
|
— |
|
|
— |
|
|
(4,732 |
) |
Intercompany interest |
|
8,398 |
|
|
(8,238 |
) |
|
(160 |
) |
|
— |
|
|
— |
|
SEACOR management fees |
|
(168 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(168 |
) |
Derivative losses, net |
|
— |
|
|
(3 |
) |
|
— |
|
|
— |
|
|
(3 |
) |
Foreign currency losses, net |
|
(1 |
) |
|
(258 |
) |
|
— |
|
|
— |
|
|
(259 |
) |
Other, net |
|
— |
|
|
3 |
|
|
— |
|
|
— |
|
|
3 |
|
|
|
3,772 |
|
|
(8,625 |
) |
|
(159 |
) |
|
— |
|
|
(5,012 |
) |
Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings of 50% or Less Owned Companies and Subsidiaries |
|
2,476 |
|
|
7,339 |
|
|
(210 |
) |
|
— |
|
|
9,605 |
|
Income Tax Expense (Benefit) |
|
(488 |
) |
|
4,066 |
|
|
— |
|
|
— |
|
|
3,578 |
|
Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies and Subsidiaries |
|
2,964 |
|
|
3,273 |
|
|
(210 |
) |
|
— |
|
|
6,027 |
|
Equity in Earnings of 50% or Less Owned Companies, Net of Tax |
|
— |
|
|
562 |
|
|
— |
|
|
— |
|
|
562 |
|
Equity in Earnings (Losses) of Subsidiaries |
|
3,625 |
|
|
— |
|
|
— |
|
|
(3,625 |
) |
|
— |
|
Net Income (Loss) |
|
6,589 |
|
|
3,835 |
|
|
(210 |
) |
|
(3,625 |
) |
|
6,589 |
|
Net Loss attributable to Noncontrolling Interest in Subsidiary |
|
— |
|
|
105 |
|
|
— |
|
|
— |
|
|
105 |
|
Net Income (Loss) attributable to Era Group Inc. |
|
6,589 |
|
|
3,940 |
|
|
(210 |
) |
|
(3,625 |
) |
|
6,694 |
|
Accretion of redemption value on Series A Preferred Stock |
|
721 |
|
|
— |
|
|
— |
|
|
— |
|
|
721 |
|
Net Income (Loss) attributable to Common Shares |
|
$ |
5,868 |
|
|
$ |
3,940 |
|
|
$ |
(210 |
) |
|
$ |
(3,625 |
) |
|
$ |
5,973 |
|
Supplemental Condensed Consolidating Statement of Operations for the Three Months Ended March 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
Operating Revenues |
|
$ |
— |
|
|
$ |
61,052 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
61,052 |
|
Costs and Expenses: |
|
|
|
|
|
|
|
|
|
|
Operating |
|
— |
|
|
39,676 |
|
|
— |
|
|
— |
|
|
39,676 |
|
Administrative and general |
|
2,618 |
|
|
7,058 |
|
|
1 |
|
|
— |
|
|
9,677 |
|
Depreciation |
|
— |
|
|
9,630 |
|
|
— |
|
|
— |
|
|
9,630 |
|
|
|
2,618 |
|
|
56,364 |
|
|
1 |
|
|
— |
|
|
58,983 |
|
Gains on Asset Dispositions and Impairments, Net |
|
— |
|
|
1,765 |
|
|
— |
|
|
— |
|
|
1,765 |
|
Operating Income (Loss) |
|
(2,618 |
) |
|
6,453 |
|
|
(1 |
) |
|
— |
|
|
3,834 |
|
Other Income (Expense): |
|
|
|
|
|
|
|
|
|
|
Interest income |
|
34 |
|
|
298 |
|
|
— |
|
|
— |
|
|
332 |
|
Interest expense |
|
(1,672 |
) |
|
(296 |
) |
|
— |
|
|
— |
|
|
(1,968 |
) |
Intercompany interest |
|
3,734 |
|
|
(3,734 |
) |
|
— |
|
|
— |
|
|
— |
|
SEACOR management fees |
|
(500 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(500 |
) |
Derivative losses, net |
|
— |
|
|
(124 |
) |
|
— |
|
|
— |
|
|
(124 |
) |
Foreign currency gains, net |
|
— |
|
|
917 |
|
|
— |
|
|
— |
|
|
917 |
|
Other, net |
|
— |
|
|
30 |
|
|
— |
|
|
— |
|
|
30 |
|
|
|
1,596 |
|
|
(2,909 |
) |
|
— |
|
|
— |
|
|
(1,313 |
) |
Income (Loss) Before Income Tax Expense (Benefit) and Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries |
|
(1,022 |
) |
|
3,544 |
|
|
(1 |
) |
|
— |
|
|
2,521 |
|
Income Tax Expense (Benefit) |
|
(356 |
) |
|
1,090 |
|
|
— |
|
|
— |
|
|
734 |
|
Income (Loss) Before Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries |
|
(666 |
) |
|
2,454 |
|
|
(1 |
) |
|
— |
|
|
1,787 |
|
Equity in Losses of 50% or Less Owned Companies, Net of Tax |
|
— |
|
|
(6,420 |
) |
|
— |
|
|
— |
|
|
(6,420 |
) |
Equity in Earnings (Losses) of Subsidiaries |
|
(3,967 |
) |
|
— |
|
|
— |
|
|
3,967 |
|
|
— |
|
Net Loss attributable to Era Group Inc. |
|
(4,633 |
) |
|
(3,966 |
) |
|
(1 |
) |
|
3,967 |
|
|
(4,633 |
) |
Accretion of redemption value on Series A Preferred Stock |
|
2,100 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,100 |
|
Net Loss attributable to Common Shares |
|
$ |
(6,733 |
) |
|
$ |
(3,966 |
) |
|
$ |
(1 |
) |
|
$ |
3,967 |
|
|
$ |
(6,733 |
) |
|
Supplemental Condensed Consolidating Statement of Cash Flows |
Supplemental Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
Net cash provided by operating activities |
|
$ |
10,502 |
|
|
$ |
6,884 |
|
|
$ |
491 |
|
|
$ |
— |
|
|
$ |
17,877 |
|
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
— |
|
|
(19,445 |
) |
|
— |
|
|
— |
|
|
(19,445 |
) |
Proceeds from disposition of property and equipment |
|
— |
|
|
19,099 |
|
|
— |
|
|
— |
|
|
19,099 |
|
Principal payments on notes due from equity investees |
|
— |
|
|
535 |
|
|
— |
|
|
— |
|
|
535 |
|
Principal payments on third party notes receivable, net |
|
— |
|
|
347 |
|
|
— |
|
|
— |
|
|
347 |
|
Net cash provided by investing activities |
|
— |
|
|
536 |
|
|
— |
|
|
— |
|
|
536 |
|
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt |
|
15,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
15,000 |
|
Payments on long-term debt |
|
(15,000 |
) |
|
(697 |
) |
|
— |
|
|
— |
|
|
(15,697 |
) |
Dividends paid on Series A preferred stock |
|
(4,953 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,953 |
) |
Proceeds and tax benefits from share award plans |
|
89 |
|
|
— |
|
|
— |
|
|
— |
|
|
89 |
|
Settlement of SEACOR options with Era Group options |
|
706 |
|
|
— |
|
|
— |
|
|
— |
|
|
706 |
|
Net cash used in financing activities |
|
(4,158 |
) |
|
(697 |
) |
|
— |
|
|
— |
|
|
(4,855 |
) |
Effects of Exchange Rate Changes on Cash and Cash Equivalents |
|
(105 |
) |
|
74 |
|
|
— |
|
|
— |
|
|
(31 |
) |
Net Increase in Cash and Cash Equivalents |
|
6,239 |
|
|
6,797 |
|
|
491 |
|
|
— |
|
|
13,527 |
|
Cash and Cash Equivalents, Beginning of Year |
|
2,258 |
|
|
8,558 |
|
|
689 |
|
|
— |
|
|
11,505 |
|
Cash and Cash Equivalents, End of Year |
|
$ |
8,497 |
|
|
$ |
15,355 |
|
|
$ |
1,180 |
|
|
$ |
— |
|
|
$ |
25,032 |
|
Supplemental Condensed Consolidating Statement of Cash Flows for the Three Months Ended March 31, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent Company Only |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
(in thousands) |
Net cash provided by (used in) operating activities |
|
$ |
(75,272 |
) |
|
$ |
34,967 |
|
|
$ |
— |
|
|
$ |
593 |
|
|
$ |
(39,712 |
) |
Cash Flows from Investing Activities: |
|
|
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
— |
|
|
(54,272 |
) |
|
— |
|
|
— |
|
|
(54,272 |
) |
Proceeds from disposition of property and equipment |
|
— |
|
|
2,935 |
|
|
— |
|
|
— |
|
|
2,935 |
|
Cash settlements on derivative transactions, net |
|
— |
|
|
(98 |
) |
|
— |
|
|
— |
|
|
(98 |
) |
Principal payments on notes due from equity investees |
|
— |
|
|
439 |
|
|
— |
|
|
— |
|
|
439 |
|
Principal payments on third party notes receivable, net |
|
— |
|
|
346 |
|
|
— |
|
|
— |
|
|
346 |
|
Net cash used in investing activities |
|
— |
|
|
(50,650 |
) |
|
— |
|
|
— |
|
|
(50,650 |
) |
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
|
— |
|
Proceeds from issuance of long-term debt |
|
38,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
38,000 |
|
Payments on long-term debt |
|
— |
|
|
(697 |
) |
|
— |
|
|
— |
|
|
(697 |
) |
Net cash provided by (used in) financing activities |
|
38,000 |
|
|
(697 |
) |
|
— |
|
|
— |
|
|
37,303 |
|
Effects of Exchange Rate Changes on Cash and Cash Equivalents |
|
593 |
|
|
810 |
|
|
— |
|
|
(593 |
) |
|
810 |
|
Net Decrease in Cash and Cash Equivalents |
|
(36,679 |
) |
|
(15,570 |
) |
|
— |
|
|
— |
|
|
(52,249 |
) |
Cash and Cash Equivalents, Beginning of Year |
|
63,044 |
|
|
16,078 |
|
|
— |
|
|
— |
|
|
79,122 |
|
Cash and Cash Equivalents, End of Year |
|
$ |
26,365 |
|
|
$ |
508 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
26,873 |
|
|