| Consolidating Condensed Statement of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
|
|
|
Three Months Ended December 24, 2016 |
|
|
|
|
(in thousands) |
|
|
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
155,518 |
|
|
$ |
14,024 |
|
|
$ |
266,438 |
|
|
$ |
(16,482 |
) |
|
$ |
419,498 |
|
Cost of goods sold and occupancy |
|
121,136 |
|
|
11,678 |
|
|
181,440 |
|
|
(15,434 |
) |
|
298,820 |
|
Gross profit |
|
34,382 |
|
|
2,346 |
|
|
84,998 |
|
|
(1,048 |
) |
|
120,678 |
|
Selling, general and administrative expenses |
|
35,965 |
|
|
3,664 |
|
|
62,159 |
|
|
(1,048 |
) |
|
100,740 |
|
Operating income (loss) |
|
(1,583 |
) |
|
(1,318 |
) |
|
22,839 |
|
|
— |
|
|
19,938 |
|
Interest expense |
|
(6,851 |
) |
|
(17 |
) |
|
(5 |
) |
|
— |
|
|
(6,873 |
) |
Interest income |
|
38 |
|
|
— |
|
|
— |
|
|
— |
|
|
38 |
|
Other expense |
|
(603 |
) |
|
(193 |
) |
|
(171 |
) |
|
— |
|
|
(967 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
|
(8,999 |
) |
|
(1,528 |
) |
|
22,663 |
|
|
— |
|
|
12,136 |
|
Income tax expense (benefit) |
|
(3,192 |
) |
|
(411 |
) |
|
7,950 |
|
|
— |
|
|
4,347 |
|
Equity in earnings (losses) of affiliates |
|
13,444 |
|
|
— |
|
|
(811 |
) |
|
(12,633 |
) |
|
— |
|
Net income (loss) including noncontrolling interest |
|
7,637 |
|
|
(1,117 |
) |
|
13,902 |
|
|
(12,633 |
) |
|
7,789 |
|
Net income attributable to noncontrolling interest |
|
— |
|
|
152 |
|
|
— |
|
|
— |
|
|
152 |
|
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
7,637 |
|
|
$ |
(1,269 |
) |
|
$ |
13,902 |
|
|
$ |
(12,633 |
) |
|
$ |
7,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
|
|
|
Three Months Ended December 26, 2015 |
|
|
|
|
(in thousands) |
|
|
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
116,963 |
|
|
$ |
15,271 |
|
|
$ |
242,723 |
|
|
$ |
(15,145 |
) |
|
$ |
359,812 |
|
Cost of goods sold and occupancy |
|
94,269 |
|
|
12,949 |
|
|
166,971 |
|
|
(14,163 |
) |
|
260,026 |
|
Gross profit |
|
22,694 |
|
|
2,322 |
|
|
75,752 |
|
|
(982 |
) |
|
99,786 |
|
Selling, general and administrative expenses |
|
29,300 |
|
|
3,812 |
|
|
58,883 |
|
|
(982 |
) |
|
91,013 |
|
Operating income (loss) |
|
(6,606 |
) |
|
(1,490 |
) |
|
16,869 |
|
|
— |
|
|
8,773 |
|
Interest expense |
|
(22,133 |
) |
|
(12 |
) |
|
— |
|
|
— |
|
|
(22,145 |
) |
Interest income |
|
21 |
|
|
1 |
|
|
— |
|
|
— |
|
|
22 |
|
Other expense |
|
(71 |
) |
|
(67 |
) |
|
(335 |
) |
|
— |
|
|
(473 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
|
(28,789 |
) |
|
(1,568 |
) |
|
16,534 |
|
|
— |
|
|
(13,823 |
) |
Income tax expense (benefit) |
|
(10,873 |
) |
|
(512 |
) |
|
6,185 |
|
|
— |
|
|
(5,200 |
) |
Equity in earnings (losses) of affiliates |
|
9,314 |
|
|
— |
|
|
(786 |
) |
|
(8,528 |
) |
|
— |
|
Net income (loss) including noncontrolling interest |
|
(8,602 |
) |
|
(1,056 |
) |
|
9,563 |
|
|
(8,528 |
) |
|
(8,623 |
) |
Net loss attributable to noncontrolling interest |
|
— |
|
|
(21 |
) |
|
— |
|
|
— |
|
|
(21 |
) |
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
(8,602 |
) |
|
$ |
(1,035 |
) |
|
$ |
9,563 |
|
|
$ |
(8,528 |
) |
|
$ |
(8,602 |
) |
|
| Consolidating Condensed Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 24, 2016 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,772 |
|
|
$ |
3,997 |
|
|
$ |
812 |
|
|
$ |
— |
|
|
$ |
6,581 |
|
Restricted cash |
|
10,981 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,981 |
|
Accounts receivable, net |
|
72,850 |
|
|
6,919 |
|
|
112,455 |
|
|
— |
|
|
192,224 |
|
Inventories |
|
137,615 |
|
|
15,435 |
|
|
277,121 |
|
|
— |
|
|
430,171 |
|
Prepaid expenses and other |
|
22,687 |
|
|
914 |
|
|
29,745 |
|
|
— |
|
|
53,346 |
|
Total current assets |
|
245,905 |
|
|
27,265 |
|
|
420,133 |
|
|
— |
|
|
693,303 |
|
Land, buildings, improvements and equipment, net |
|
39,384 |
|
|
3,858 |
|
|
126,594 |
|
|
— |
|
|
169,836 |
|
Goodwill |
|
15,058 |
|
|
— |
|
|
215,327 |
|
|
— |
|
|
230,385 |
|
Other long-term assets |
|
29,297 |
|
|
3,525 |
|
|
129,848 |
|
|
(8,493 |
) |
|
154,177 |
|
Intercompany receivable |
|
38,559 |
|
|
— |
|
|
586,588 |
|
|
(625,147 |
) |
|
— |
|
Investment in subsidiaries |
|
1,251,408 |
|
|
— |
|
|
— |
|
|
(1,251,408 |
) |
|
— |
|
Total |
|
$ |
1,619,611 |
|
|
$ |
34,648 |
|
|
$ |
1,478,490 |
|
|
$ |
(1,885,048 |
) |
|
$ |
1,247,701 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
46,208 |
|
|
$ |
7,146 |
|
|
$ |
81,883 |
|
|
$ |
— |
|
|
$ |
135,237 |
|
Accrued expenses |
|
42,223 |
|
|
1,362 |
|
|
50,909 |
|
|
— |
|
|
94,494 |
|
Current portion of long-term debt |
|
22 |
|
|
— |
|
|
375 |
|
|
— |
|
|
397 |
|
Total current liabilities |
|
88,453 |
|
|
8,508 |
|
|
133,167 |
|
|
— |
|
|
230,128 |
|
Long-term debt |
|
394,564 |
|
|
— |
|
|
447 |
|
|
— |
|
|
395,011 |
|
Intercompany payable |
|
575,187 |
|
|
49,960 |
|
|
— |
|
|
(625,147 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
21,014 |
|
|
(21,014 |
) |
|
— |
|
Other long-term obligations |
|
2,158 |
|
|
— |
|
|
68,941 |
|
|
(8,493 |
) |
|
62,606 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
559,249 |
|
|
(24,527 |
) |
|
1,254,921 |
|
|
(1,230,394 |
) |
|
559,249 |
|
Noncontrolling interest |
|
— |
|
|
707 |
|
|
— |
|
|
— |
|
|
707 |
|
Total equity (deficit) |
|
559,249 |
|
|
(23,820 |
) |
|
1,254,921 |
|
|
(1,230,394 |
) |
|
559,956 |
|
Total |
|
$ |
1,619,611 |
|
|
$ |
34,648 |
|
|
$ |
1,478,490 |
|
|
$ |
(1,885,048 |
) |
|
$ |
1,247,701 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 26, 2015 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
918 |
|
|
$ |
5,034 |
|
|
$ |
3,054 |
|
|
$ |
— |
|
|
$ |
9,006 |
|
Restricted cash |
|
11,939 |
|
|
— |
|
|
— |
|
|
— |
|
|
11,939 |
|
Short term investments |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Accounts receivable, net |
|
68,141 |
|
|
7,398 |
|
|
119,818 |
|
|
— |
|
|
195,357 |
|
Inventories |
|
128,587 |
|
|
17,253 |
|
|
270,618 |
|
|
— |
|
|
416,458 |
|
Prepaid expenses and other |
|
35,085 |
|
|
962 |
|
|
23,826 |
|
|
— |
|
|
59,873 |
|
Total current assets |
|
244,670 |
|
|
30,647 |
|
|
417,316 |
|
|
— |
|
|
692,633 |
|
Land, buildings, improvements and equipment, net |
|
49,227 |
|
|
3,787 |
|
|
110,934 |
|
|
— |
|
|
163,948 |
|
Goodwill |
|
— |
|
|
— |
|
|
209,089 |
|
|
— |
|
|
209,089 |
|
Other long-term assets |
|
54,866 |
|
|
3,540 |
|
|
89,198 |
|
|
(2,065 |
) |
|
145,539 |
|
Intercompany receivable |
|
33,348 |
|
|
— |
|
|
456,706 |
|
|
(490,054 |
) |
|
— |
|
Investment in subsidiaries |
|
1,092,134 |
|
|
— |
|
|
— |
|
|
(1,092,134 |
) |
|
— |
|
Total |
|
$ |
1,474,245 |
|
|
$ |
37,974 |
|
|
$ |
1,283,243 |
|
|
$ |
(1,584,253 |
) |
|
$ |
1,211,209 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
51,305 |
|
|
$ |
9,085 |
|
|
$ |
68,701 |
|
|
$ |
— |
|
|
$ |
129,091 |
|
Accrued expenses |
|
41,384 |
|
|
1,520 |
|
|
46,143 |
|
|
— |
|
|
89,047 |
|
Current portion of long-term debt |
|
262 |
|
|
— |
|
|
30 |
|
|
— |
|
|
292 |
|
Total current liabilities |
|
92,951 |
|
|
10,605 |
|
|
114,874 |
|
|
— |
|
|
218,430 |
|
Long-term debt |
|
435,835 |
|
|
— |
|
|
58 |
|
|
— |
|
|
435,893 |
|
Intercompany payable |
|
444,900 |
|
|
45,154 |
|
|
— |
|
|
(490,054 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
17,536 |
|
|
(17,536 |
) |
|
— |
|
Other long-term obligations |
|
2,159 |
|
|
— |
|
|
57,911 |
|
|
(2,065 |
) |
|
58,005 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
498,400 |
|
|
(18,266 |
) |
|
1,092,864 |
|
|
(1,074,598 |
) |
|
498,400 |
|
Noncontrolling interest |
|
— |
|
|
481 |
|
|
— |
|
|
— |
|
|
481 |
|
Total equity (deficit) |
|
498,400 |
|
|
(17,785 |
) |
|
1,092,864 |
|
|
(1,074,598 |
) |
|
498,881 |
|
Total |
|
$ |
1,474,245 |
|
|
$ |
37,974 |
|
|
$ |
1,283,243 |
|
|
$ |
(1,584,253 |
) |
|
$ |
1,211,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
September 24, 2016 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
82,158 |
|
|
$ |
9,695 |
|
|
$ |
1,129 |
|
|
$ |
— |
|
|
$ |
92,982 |
|
Restricted cash |
|
10,910 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,910 |
|
Accounts receivable, net |
|
59,617 |
|
|
5,156 |
|
|
136,378 |
|
|
— |
|
|
201,151 |
|
Inventories |
|
113,317 |
|
|
11,752 |
|
|
236,935 |
|
|
— |
|
|
362,004 |
|
Prepaid expenses and other assets |
|
20,978 |
|
|
817 |
|
|
25,964 |
|
|
— |
|
|
47,759 |
|
Total current assets |
|
286,980 |
|
|
27,420 |
|
|
400,406 |
|
|
— |
|
|
714,806 |
|
Land, buildings, improvements and equipment, net |
|
41,083 |
|
|
3,897 |
|
|
113,244 |
|
|
— |
|
|
158,224 |
|
Goodwill |
|
15,058 |
|
|
— |
|
|
216,327 |
|
|
— |
|
|
231,385 |
|
Other long-term assets |
|
30,555 |
|
|
2,980 |
|
|
85,701 |
|
|
(11,458 |
) |
|
107,778 |
|
Intercompany receivable |
|
32,778 |
|
|
— |
|
|
567,374 |
|
|
(600,152 |
) |
|
— |
|
Investment in subsidiaries |
|
1,176,990 |
|
|
— |
|
|
— |
|
|
(1,176,990 |
) |
|
— |
|
Total |
|
$ |
1,583,444 |
|
|
$ |
34,297 |
|
|
$ |
1,383,052 |
|
|
$ |
(1,788,600 |
) |
|
$ |
1,212,193 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
34,096 |
|
|
$ |
3,953 |
|
|
$ |
64,364 |
|
|
$ |
— |
|
|
$ |
102,413 |
|
Accrued expenses and other liabilities |
|
47,862 |
|
|
1,410 |
|
|
50,071 |
|
|
— |
|
|
99,343 |
|
Current portion of long term debt |
|
88 |
|
|
— |
|
|
375 |
|
|
— |
|
|
463 |
|
Total current liabilities |
|
82,046 |
|
|
5,363 |
|
|
114,810 |
|
|
— |
|
|
202,219 |
|
Long-term debt |
|
394,364 |
|
|
— |
|
|
442 |
|
|
— |
|
|
394,806 |
|
Intercompany payable |
|
553,964 |
|
|
46,188 |
|
|
— |
|
|
(600,152 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
16,126 |
|
|
(16,126 |
) |
|
— |
|
Other long-term obligations |
|
56 |
|
|
— |
|
|
71,983 |
|
|
(11,458 |
) |
|
60,581 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
553,014 |
|
|
(18,827 |
) |
|
1,179,691 |
|
|
(1,160,864 |
) |
|
553,014 |
|
Noncontrolling interest |
|
— |
|
|
1,573 |
|
|
— |
|
|
— |
|
|
1,573 |
|
Total equity (deficit) |
|
553,014 |
|
|
(17,254 |
) |
|
1,179,691 |
|
|
(1,160,864 |
) |
|
554,587 |
|
Total |
|
$ |
1,583,444 |
|
|
$ |
34,297 |
|
|
$ |
1,383,052 |
|
|
$ |
(1,788,600 |
) |
|
$ |
1,212,193 |
|
|
| Consolidating Condensed Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
|
Three Months Ended December 24, 2016 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
|
$ |
(27,540 |
) |
|
$ |
(4,428 |
) |
|
$ |
22,731 |
|
|
$ |
(4,076 |
) |
|
$ |
(13,313 |
) |
Additions to property, plant and equipment |
|
(1,831 |
) |
|
(110 |
) |
|
(11,027 |
) |
|
— |
|
|
(12,968 |
) |
Payments to acquire companies, net of cash acquired |
|
(60,042 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(60,042 |
) |
Proceeds from sale of business, facility and other assets |
|
2 |
|
|
— |
|
|
7,958 |
|
|
— |
|
|
7,960 |
|
Change in restricted cash and cash equivalents |
|
(71 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(71 |
) |
Investment in equity method investee |
|
(2,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,000 |
) |
Other investing activities |
|
(265 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(265 |
) |
Intercompany investing activities |
|
(5,781 |
) |
|
— |
|
|
(19,214 |
) |
|
24,995 |
|
|
— |
|
Net cash used by investing activities |
|
(69,988 |
) |
|
(110 |
) |
|
(22,283 |
) |
|
24,995 |
|
|
(67,386 |
) |
Repayments on revolving line of credit |
|
(1,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,000 |
) |
Borrowings on revolving line of credit |
|
1,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,000 |
|
Repayments of long-term debt |
|
(66 |
) |
|
— |
|
|
(8 |
) |
|
— |
|
|
(74 |
) |
Excess tax benefits from stock-based awards |
|
4,356 |
|
|
— |
|
|
— |
|
|
— |
|
|
4,356 |
|
Repurchase of common stock |
|
(7,913 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(7,913 |
) |
Distribution to parent |
|
— |
|
|
(4,076 |
) |
|
— |
|
|
4,076 |
|
|
— |
|
Distribution to noncontrolling interest |
|
— |
|
|
(1,018 |
) |
|
— |
|
|
— |
|
|
(1,018 |
) |
Payment of contingent consideration |
|
— |
|
|
— |
|
|
(860 |
) |
|
— |
|
|
(860 |
) |
Intercompany financing activities |
|
21,223 |
|
|
3,772 |
|
|
— |
|
|
(24,995 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
17,600 |
|
|
(1,322 |
) |
|
(868 |
) |
|
(20,919 |
) |
|
(5,509 |
) |
Effect of exchange rates on cash |
|
(458 |
) |
|
162 |
|
|
103 |
|
|
— |
|
|
(193 |
) |
Net increase (decrease) in cash and cash equivalents |
|
(80,386 |
) |
|
(5,698 |
) |
|
(317 |
) |
|
— |
|
|
(86,401 |
) |
Cash and cash equivalents at beginning of period |
|
82,158 |
|
|
9,695 |
|
|
1,129 |
|
|
— |
|
|
92,982 |
|
Cash and cash equivalents at end of period |
|
$ |
1,772 |
|
|
$ |
3,997 |
|
|
$ |
812 |
|
|
$ |
— |
|
|
$ |
6,581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
|
Three Months Ended December 26, 2015 |
|
|
(in thousands) |
|
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
|
$ |
(19,914 |
) |
|
$ |
(1,065 |
) |
|
$ |
25,382 |
|
|
$ |
(4,884 |
) |
|
$ |
(481 |
) |
Additions to property, plant and equipment |
|
(707 |
) |
|
(226 |
) |
|
(4,323 |
) |
|
— |
|
|
(5,256 |
) |
Payments to acquire companies, net of cash acquired |
|
(68,529 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(68,529 |
) |
Change in restricted cash and cash equivalents |
|
1,218 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,218 |
|
Other investing activities |
|
(200 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(200 |
) |
Intercompany investing activities |
|
(653 |
) |
|
— |
|
|
(19,321 |
) |
|
19,974 |
|
|
— |
|
Net cash used by investing activities |
|
(68,871 |
) |
|
(226 |
) |
|
(23,644 |
) |
|
19,974 |
|
|
(72,767 |
) |
Repayments of long-term debt |
|
(400,065 |
) |
|
— |
|
|
(7 |
) |
|
— |
|
|
(400,072 |
) |
Borrowings under revolving line of credit |
|
79,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
79,000 |
|
Repayments on revolving line of credit |
|
(37,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(37,000 |
) |
Issuance of long-term debt |
|
400,000 |
|
|
|
|
|
|
|
|
|
|
|
400,000 |
|
Excess tax benefits from stock-based awards |
|
900 |
|
|
— |
|
|
— |
|
|
— |
|
|
900 |
|
Repurchase of common stock |
|
(1,167 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,167 |
) |
Distribution to parent |
|
— |
|
|
(4,884 |
) |
|
— |
|
|
4,884 |
|
|
— |
|
Distribution to noncontrolling interest |
|
— |
|
|
(592 |
) |
|
— |
|
|
— |
|
|
(592 |
) |
Payment of financing costs |
|
(6,324 |
) |
|
|
|
|
|
|
|
|
|
|
(6,324 |
) |
Intercompany financing activities |
|
18,261 |
|
|
1,713 |
|
|
— |
|
|
(19,974 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
53,605 |
|
|
(3,763 |
) |
|
(7 |
) |
|
(15,090 |
) |
|
34,745 |
|
Effect of exchange rates on cash |
|
(182 |
) |
|
66 |
|
|
41 |
|
|
— |
|
|
(75 |
) |
Net increase decrease in cash and cash equivalents |
|
(35,362 |
) |
|
(4,988 |
) |
|
1,772 |
|
|
— |
|
|
(38,578 |
) |
Cash and cash equivalents at beginning of year |
|
36,280 |
|
|
10,022 |
|
|
1,282 |
|
|
— |
|
|
47,584 |
|
Cash and cash equivalents at end of year |
|
$ |
918 |
|
|
$ |
5,034 |
|
|
$ |
3,054 |
|
|
$ |
— |
|
|
$ |
9,006 |
|
|