| Consolidating Condensed Financial Information of Guarantor Subsidiaries |
Consolidating Condensed Financial Information of Guarantor Subsidiaries
Certain 100% wholly-owned subsidiaries of the Company (as listed below, collectively the “Guarantor Subsidiaries”) have guaranteed fully and unconditionally, on a joint and several basis, the obligation to pay principal and interest on the Company’s 2023 Notes and 2028 Notes. Certain subsidiaries and operating divisions are not guarantors of the 2023 Notes and 2028 Notes. Those subsidiaries that are guarantors and co-obligors of the 2023 Notes and 2028 Notes are as follows:
Farnam Companies, Inc.
Four Paws Products Ltd.
Gulfstream Home & Garden, Inc.
Hydro-Organics Wholesale, Inc.
IMS Trading, LLC
IMS Southern, LLC
K&H Manufacturing, LLC
Kaytee Products, Inc.
Matson, LLC
New England Pottery, LLC
Pennington Seed, Inc. (including Gro Tec, Inc., NEXGEN Turf Research, LLC and All-Glass Aquarium Co., Inc.)
Pets International, Ltd.
Segrest, Inc. (including Blue Springs Hatchery, Inc., Segrest Farms, Inc., Florida Tropical Distributors International, Inc., Sun Pet, Ltd, Aquatica Tropicals, Inc., Quality Pets, LLC and Midwest Tropicals, LLC)
T.F.H. Publications, Inc.
Wellmark International (including B2E Corporation, B2E Microbials, LLC, B2E Manufacturing, LLC, Four Star Microbial Products, LLC and B2E Biotech LLC)
In lieu of providing separate audited financial statements for the Guarantor Subsidiaries, the Company has included the accompanying consolidating condensed financial statements based on the Company’s understanding of the Securities and Exchange Commission’s interpretation and application of Rule 3-10 of the Securities and Exchange Commission’s Regulation S-X.
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CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
|
Three Months Ended December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
173,406 |
|
|
$ |
23,629 |
|
|
$ |
279,834 |
|
|
$ |
(14,879 |
) |
|
$ |
461,990 |
|
Cost of goods sold and occupancy |
|
136,013 |
|
|
22,003 |
|
|
187,683 |
|
|
(13,891 |
) |
|
331,808 |
|
Gross profit |
|
37,393 |
|
|
1,626 |
|
|
92,151 |
|
|
(988 |
) |
|
130,182 |
|
Selling, general and administrative expenses |
|
43,665 |
|
|
7,351 |
|
|
69,973 |
|
|
(988 |
) |
|
120,001 |
|
Operating income (loss) |
|
(6,272 |
) |
|
(5,725 |
) |
|
22,178 |
|
|
— |
|
|
10,181 |
|
Interest expense |
|
(10,497 |
) |
|
(114 |
) |
|
(3 |
) |
|
|
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(10,614 |
) |
Interest income |
|
2,533 |
|
|
4 |
|
|
— |
|
|
|
|
2,537 |
|
Other (expense) income |
|
37 |
|
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(216 |
) |
|
(13 |
) |
|
|
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(192 |
) |
Income (loss) before taxes and equity in earnings (losses) of affiliates |
|
(14,199 |
) |
|
(6,051 |
) |
|
22,162 |
|
|
— |
|
|
1,912 |
|
Income tax expense (benefit) |
|
(2,088 |
) |
|
(256 |
) |
|
2,617 |
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|
|
|
273 |
|
Equity in earnings (losses) of affiliates |
|
13,914 |
|
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— |
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(1,112 |
) |
|
(12,802 |
) |
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— |
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Net income (loss) including noncontrolling interest |
|
1,803 |
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(5,795 |
) |
|
18,433 |
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(12,802 |
) |
|
1,639 |
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Net loss attributable to noncontrolling interest |
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— |
|
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(164 |
) |
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— |
|
|
— |
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|
(164 |
) |
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
1,803 |
|
|
$ |
(5,631 |
) |
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$ |
18,433 |
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$ |
(12,802 |
) |
|
$ |
1,803 |
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CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
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Three Months Ended December 30, 2017 |
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(in thousands) |
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Parent |
|
Non-
Guarantor
Subsidiaries
|
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Guarantor
Subsidiaries
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Eliminations |
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Consolidated |
Net sales |
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$ |
159,061 |
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$ |
13,743 |
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$ |
286,424 |
|
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$ |
(17,217 |
) |
|
$ |
442,011 |
|
Cost of goods sold and occupancy |
|
125,479 |
|
|
11,816 |
|
|
189,051 |
|
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(16,172 |
) |
|
310,174 |
|
Gross profit |
|
33,582 |
|
|
1,927 |
|
|
97,373 |
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(1,045 |
) |
|
131,837 |
|
Selling, general and administrative expenses |
|
36,639 |
|
|
3,905 |
|
|
69,817 |
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(1,045 |
) |
|
109,316 |
|
Operating income (loss) |
|
(3,057 |
) |
|
(1,978 |
) |
|
27,556 |
|
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— |
|
|
22,521 |
|
Interest expense |
|
(7,385 |
) |
|
(16 |
) |
|
(4 |
) |
|
— |
|
|
(7,405 |
) |
Interest income |
|
186 |
|
|
1 |
|
|
— |
|
|
— |
|
|
187 |
|
Other (expense) income |
|
(2,918 |
) |
|
54 |
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(225 |
) |
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— |
|
|
(3,089 |
) |
Income (loss) before taxes and equity in earnings (losses) of affiliates |
|
(13,174 |
) |
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(1,939 |
) |
|
27,327 |
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— |
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|
12,214 |
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Income tax expense (benefit) |
|
14,425 |
|
|
1,282 |
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(29,943 |
) |
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— |
|
|
(14,236 |
) |
Equity in earnings (losses) of affiliates |
|
53,846 |
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— |
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(2,900 |
) |
|
(50,946 |
) |
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— |
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Net income (loss) including noncontrolling interest |
|
26,247 |
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(3,221 |
) |
|
54,370 |
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(50,946 |
) |
|
26,450 |
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Net income attributable to noncontrolling interest |
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— |
|
|
203 |
|
|
— |
|
|
— |
|
|
203 |
|
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
26,247 |
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$ |
(3,424 |
) |
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$ |
54,370 |
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$ |
(50,946 |
) |
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$ |
26,247 |
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CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
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Three Months Ended December 29, 2018 |
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(in thousands) |
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Parent |
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Non-
Guarantor
Subsidiaries
|
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Guarantor
Subsidiaries
|
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Eliminations |
|
Consolidated |
Net income (loss) |
|
$ |
1,803 |
|
|
$ |
(5,795 |
) |
|
$ |
18,433 |
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$ |
(12,802 |
) |
|
$ |
1,639 |
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Other comprehensive loss: |
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Foreign currency translation |
|
(274 |
) |
|
(129 |
) |
|
(95 |
) |
|
224 |
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(274 |
) |
Total comprehensive income (loss) |
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1,529 |
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(5,924 |
) |
|
18,338 |
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(12,578 |
) |
|
1,365 |
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Comprehensive loss attributable to noncontrolling interests |
|
— |
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(164 |
) |
|
— |
|
|
— |
|
|
(164 |
) |
Comprehensive income (loss) attributable to Central Garden & Pet Company |
|
$ |
1,529 |
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$ |
(5,760 |
) |
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$ |
18,338 |
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$ |
(12,578 |
) |
|
$ |
1,529 |
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CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
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|
Three Months Ended December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
|
$ |
26,247 |
|
|
$ |
(3,221 |
) |
|
$ |
54,370 |
|
|
$ |
(50,946 |
) |
|
$ |
26,450 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
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Foreign currency translation |
|
44 |
|
|
43 |
|
|
(16 |
) |
|
(27 |
) |
|
44 |
|
Total comprehensive income (loss) |
|
26,291 |
|
|
(3,178 |
) |
|
54,354 |
|
|
(50,973 |
) |
|
26,494 |
|
Comprehensive income attributable to noncontrolling interests |
|
— |
|
|
203 |
|
|
— |
|
|
— |
|
|
203 |
|
Comprehensive income (loss) attributable to Central Garden & Pet Company |
|
$ |
26,291 |
|
|
$ |
(3,381 |
) |
|
$ |
54,354 |
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|
$ |
(50,973 |
) |
|
$ |
26,291 |
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CONSOLIDATING CONDENSED BALANCE SHEET |
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|
December 29, 2018 |
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|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
470,049 |
|
|
$ |
6,500 |
|
|
$ |
2,188 |
|
|
$ |
— |
|
|
$ |
478,737 |
|
Restricted cash |
|
10,921 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,921 |
|
Accounts receivable, net |
|
95,399 |
|
|
9,736 |
|
|
145,088 |
|
|
— |
|
|
250,223 |
|
Inventories |
|
137,158 |
|
|
36,698 |
|
|
319,889 |
|
|
— |
|
|
493,745 |
|
Prepaid expenses and other |
|
16,268 |
|
|
1,635 |
|
|
20,495 |
|
|
— |
|
|
38,398 |
|
Total current assets |
|
729,795 |
|
|
54,569 |
|
|
487,660 |
|
|
— |
|
|
1,272,024 |
|
Land, buildings, improvements and equipment, net |
|
31,311 |
|
|
33,483 |
|
|
146,766 |
|
|
— |
|
|
211,560 |
|
Goodwill |
|
20,578 |
|
|
7,414 |
|
|
253,185 |
|
|
— |
|
|
281,177 |
|
Other long-term assets |
|
54,972 |
|
|
6,663 |
|
|
132,846 |
|
|
(8,396 |
) |
|
186,085 |
|
Intercompany receivable |
|
100,968 |
|
|
— |
|
|
775,169 |
|
|
(876,137 |
) |
|
— |
|
Investment in subsidiaries |
|
1,632,068 |
|
|
— |
|
|
— |
|
|
(1,632,068 |
) |
|
— |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
47,350 |
|
|
$ |
12,359 |
|
|
$ |
81,477 |
|
|
$ |
— |
|
|
$ |
141,186 |
|
Accrued expenses |
|
48,038 |
|
|
4,159 |
|
|
56,048 |
|
|
— |
|
|
108,245 |
|
Current portion of long-term debt |
|
117 |
|
|
— |
|
|
— |
|
|
— |
|
|
117 |
|
Total current liabilities |
|
95,505 |
|
|
16,518 |
|
|
137,525 |
|
|
— |
|
|
249,548 |
|
Long-term debt |
|
692,157 |
|
|
— |
|
|
175 |
|
|
— |
|
|
692,332 |
|
Intercompany payable |
|
817,165 |
|
|
58,972 |
|
|
— |
|
|
(876,137 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
|
|
|
— |
|
|
26,148 |
|
|
(26,148 |
) |
|
— |
|
Other long-term obligations |
|
8,602 |
|
|
— |
|
|
52,276 |
|
|
(8,396 |
) |
|
52,482 |
|
Total Central Garden & Pet shareholders’ equity |
|
956,263 |
|
|
26,418 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,263 |
|
Noncontrolling interest |
|
|
|
|
221 |
|
|
— |
|
|
|
|
|
221 |
|
Total equity |
|
956,263 |
|
|
26,639 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,484 |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
277,608 |
|
|
$ |
5,858 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
283,466 |
|
Restricted cash |
|
12,419 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,419 |
|
Accounts receivable, net |
|
89,039 |
|
|
5,617 |
|
|
140,419 |
|
|
— |
|
|
235,075 |
|
Inventories |
|
141,788 |
|
|
12,723 |
|
|
285,910 |
|
|
— |
|
|
440,421 |
|
Prepaid expenses and other |
|
6,645 |
|
|
1,059 |
|
|
14,815 |
|
|
— |
|
|
22,519 |
|
Total current assets |
|
527,499 |
|
|
25,257 |
|
|
441,144 |
|
|
— |
|
|
993,900 |
|
Land, buildings, improvements and equipment, net |
|
35,972 |
|
|
4,180 |
|
|
139,078 |
|
|
— |
|
|
179,230 |
|
Goodwill |
|
15,058 |
|
|
— |
|
|
241,217 |
|
|
— |
|
|
256,275 |
|
Other long-term assets |
|
55,752 |
|
|
2,032 |
|
|
143,741 |
|
|
(13,578 |
) |
|
187,947 |
|
Intercompany receivable |
|
38,956 |
|
|
— |
|
|
677,979 |
|
|
(716,935 |
) |
|
— |
|
Investment in subsidiaries |
|
1,437,506 |
|
|
— |
|
|
— |
|
|
(1,437,506 |
) |
|
— |
|
Total |
|
$ |
2,110,743 |
|
|
$ |
31,469 |
|
|
$ |
1,643,159 |
|
|
$ |
(2,168,019 |
) |
|
$ |
1,617,352 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
40,775 |
|
|
$ |
9,241 |
|
|
$ |
74,567 |
|
|
$ |
— |
|
|
$ |
124,583 |
|
Accrued expenses |
|
45,973 |
|
|
2,313 |
|
|
51,718 |
|
|
— |
|
|
100,004 |
|
Current portion of long-term debt |
|
— |
|
|
— |
|
|
372 |
|
|
— |
|
|
372 |
|
Total current liabilities |
|
86,748 |
|
|
11,554 |
|
|
126,657 |
|
|
— |
|
|
224,959 |
|
Long-term debt |
|
690,839 |
|
|
— |
|
|
125 |
|
|
— |
|
|
690,964 |
|
Intercompany payable |
|
663,241 |
|
|
53,694 |
|
|
— |
|
|
(716,935 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
29,069 |
|
|
(29,069 |
) |
|
— |
|
Other long-term obligations |
|
8,026 |
|
|
— |
|
|
45,030 |
|
|
(13,578 |
) |
|
39,478 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
661,889 |
|
|
(33,841 |
) |
|
1,442,278 |
|
|
(1,408,437 |
) |
|
661,889 |
|
Noncontrolling interest |
|
— |
|
|
62 |
|
|
— |
|
|
— |
|
|
62 |
|
Total equity (deficit) |
|
661,889 |
|
|
(33,779 |
) |
|
1,442,278 |
|
|
(1,408,437 |
) |
|
661,951 |
|
Total |
|
$ |
2,110,743 |
|
|
$ |
31,469 |
|
|
$ |
1,643,159 |
|
|
$ |
(2,168,019 |
) |
|
$ |
1,617,352 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
September 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
474,210 |
|
|
$ |
6,005 |
|
|
$ |
1,891 |
|
|
$ |
— |
|
|
$ |
482,106 |
|
Restricted cash |
|
10,899 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,899 |
|
Accounts receivable, net |
|
94,657 |
|
|
9,647 |
|
|
171,604 |
|
|
— |
|
|
275,908 |
|
Inventories |
|
123,178 |
|
|
32,556 |
|
|
272,089 |
|
|
— |
|
|
427,823 |
|
Prepaid expenses and other assets |
|
6,304 |
|
|
1,455 |
|
|
12,803 |
|
|
— |
|
|
20,562 |
|
Total current assets |
|
709,248 |
|
|
49,663 |
|
|
458,387 |
|
|
— |
|
|
1,217,298 |
|
Land, buildings, improvements and equipment, net |
|
33,484 |
|
|
33,840 |
|
|
150,323 |
|
|
— |
|
|
217,647 |
|
Goodwill |
|
20,578 |
|
|
7,414 |
|
|
253,185 |
|
|
— |
|
|
281,177 |
|
Other long-term assets |
|
62,199 |
|
|
7,469 |
|
|
133,145 |
|
|
(11,726 |
) |
|
191,087 |
|
Intercompany receivable |
|
40,365 |
|
|
— |
|
|
769,886 |
|
|
(810,251 |
) |
|
— |
|
Investment in subsidiaries |
|
1,618,378 |
|
|
— |
|
|
— |
|
|
(1,618,378 |
) |
|
— |
|
Total |
|
$ |
2,484,252 |
|
|
$ |
98,386 |
|
|
$ |
1,764,926 |
|
|
$ |
(2,440,355 |
) |
|
$ |
1,907,209 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
33,122 |
|
|
$ |
4,759 |
|
|
$ |
72,378 |
|
|
$ |
— |
|
|
$ |
110,259 |
|
Accrued expenses and other liabilities |
|
44,142 |
|
|
4,746 |
|
|
53,695 |
|
|
— |
|
|
102,583 |
|
Current portion of long term debt |
|
116 |
|
|
— |
|
|
6 |
|
|
— |
|
|
122 |
|
Total current liabilities |
|
77,380 |
|
|
9,505 |
|
|
126,079 |
|
|
— |
|
|
212,964 |
|
Long-term debt |
|
691,869 |
|
|
— |
|
|
162 |
|
|
— |
|
|
692,031 |
|
Intercompany payable |
|
753,933 |
|
|
56,318 |
|
|
— |
|
|
(810,251 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
25,036 |
|
|
(25,036 |
) |
|
— |
|
Other long-term obligations |
|
8,621 |
|
|
— |
|
|
52,485 |
|
|
(11,726 |
) |
|
49,380 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
952,449 |
|
|
32,178 |
|
|
1,561,164 |
|
|
(1,593,342 |
) |
|
952,449 |
|
Noncontrolling interest |
|
— |
|
|
385 |
|
|
— |
|
|
— |
|
|
385 |
|
Total equity (deficit) |
|
952,449 |
|
|
32,563 |
|
|
1,561,164 |
|
|
(1,593,342 |
) |
|
952,834 |
|
Total |
|
$ |
2,484,252 |
|
|
$ |
98,386 |
|
|
$ |
1,764,926 |
|
|
$ |
(2,440,355 |
) |
|
$ |
1,907,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
|
Three Months Ended December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
|
$ |
(3,592 |
) |
|
$ |
(1,459 |
) |
|
$ |
11,851 |
|
|
$ |
— |
|
|
$ |
6,800 |
|
Additions to property and equipment |
|
(873 |
) |
|
(704 |
) |
|
(6,261 |
) |
|
— |
|
|
(7,838 |
) |
Investments |
|
(1,499 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,499 |
) |
Other investing activities |
|
(50 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(50 |
) |
Intercompany investing activities |
|
(60,604 |
) |
|
— |
|
|
(5,283 |
) |
|
65,887 |
|
|
— |
|
Net cash used by investing activities |
|
(63,026 |
) |
|
(704 |
) |
|
(11,544 |
) |
|
65,887 |
|
|
(9,387 |
) |
Repayments under long-term debt |
|
(28 |
) |
|
|
|
|
(6 |
) |
|
|
|
|
(34 |
) |
Repurchase of common stock |
|
(547 |
) |
|
|
|
|
|
|
|
|
|
|
(547 |
) |
Payment of contingent consideration liability |
|
|
|
|
— |
|
|
(54 |
) |
|
— |
|
|
(54 |
) |
Intercompany financing activities |
|
63,233 |
|
|
2,654 |
|
|
|
|
|
(65,887 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
62,658 |
|
|
2,654 |
|
|
(60 |
) |
|
(65,887 |
) |
|
(635 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(179 |
) |
|
4 |
|
|
50 |
|
|
— |
|
|
(125 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
|
(4,139 |
) |
|
495 |
|
|
297 |
|
|
— |
|
|
(3,347 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
485,109 |
|
|
6,005 |
|
|
1,891 |
|
|
— |
|
|
493,005 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
480,970 |
|
|
$ |
6,500 |
|
|
$ |
2,188 |
|
|
$ |
— |
|
|
$ |
489,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
|
Three Months Ended December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash (used) provided by operating activities |
|
$ |
(38,709 |
) |
|
$ |
(105 |
) |
|
$ |
20,988 |
|
|
$ |
(6,387 |
) |
|
$ |
(24,213 |
) |
Additions to property, plant and equipment |
|
(1,608 |
) |
|
(83 |
) |
|
(6,495 |
) |
|
— |
|
|
(8,186 |
) |
Change in restricted cash and cash equivalents |
|
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Investments |
|
(6,555 |
) |
|
— |
|
|
|
|
|
|
|
|
(6,555 |
) |
Other investing activities |
|
(1,200 |
) |
|
— |
|
|
|
|
|
|
|
|
(1,200 |
) |
Intercompany investing activities |
|
(2,351 |
) |
|
— |
|
|
(15,842 |
) |
|
18,193 |
|
|
— |
|
Net cash used by investing activities |
|
(11,714 |
) |
|
(83 |
) |
|
(22,337 |
) |
|
18,193 |
|
|
(15,941 |
) |
Repayments under revolving line of credit |
|
(23,000 |
) |
|
— |
|
|
|
|
|
— |
|
|
(23,000 |
) |
Borrowings under revolving line of credit |
|
23,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
23,000 |
|
Repayments under long-term debt |
|
— |
|
|
— |
|
|
(7 |
) |
|
— |
|
|
(7 |
) |
Issuance of long-term debt |
|
300,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
300,000 |
|
Payment of financing costs |
|
(4,558 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,558 |
) |
Repurchase of common stock |
|
(2,768 |
) |
|
|
|
|
— |
|
|
|
|
|
(2,768 |
) |
Distribution to parent |
|
— |
|
|
(6,387 |
) |
|
— |
|
|
6,387 |
|
|
— |
|
Distribution to noncontrolling interest |
|
— |
|
|
(1,597 |
) |
|
— |
|
|
— |
|
|
(1,597 |
) |
Payment of contingent consideration |
|
— |
|
|
— |
|
|
(93 |
) |
|
— |
|
|
(93 |
) |
Intercompany financing activities |
|
15,833 |
|
|
2,360 |
|
|
|
|
|
(18,193 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
308,507 |
|
|
(5,624 |
) |
|
(100 |
) |
|
(11,806 |
) |
|
290,977 |
|
Effect of exchange rates on cash, cash equivalents and restricted cash |
|
60 |
|
|
(23 |
) |
|
(17 |
) |
|
— |
|
|
20 |
|
Net decrease in cash, cash equivalents and restricted cash |
|
258,144 |
|
|
(5,835 |
) |
|
(1,466 |
) |
|
— |
|
|
250,843 |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
31,883 |
|
|
11,693 |
|
|
1,466 |
|
|
— |
|
|
45,042 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
290,027 |
|
|
$ |
5,858 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
295,885 |
|
|