Quarterly report pursuant to Section 13 or 15(d)

Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)

v2.4.1.9
Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
3 Months Ended
Dec. 27, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Consolidating Condensed Statement of Operations Based on Company's Understanding of SEC's Interpretation

 

     CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Three Months Ended December 27, 2014
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
    Eliminations     Consolidated  

Net sales

   $ 96,962      $ 17,323      $ 207,125      $ (14,090   $ 307,320   

Cost of goods sold and occupancy

     78,779        14,578        139,091        (13,109     219,339   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

  18,183      2,745      68,034      (981   87,981   

Selling, general and administrative expenses

  27,851      3,999      55,974      (981   86,843   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

  (9,668   (1,254   12,060      0      1,138   

Interest expense

  (10,487   (15   (1   0      (10,503

Interest income

  70      1      0      0      71   

Other expense

  (330   0      (38   0      (368
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before taxes and equity in earnings (loss) of affiliates

  (20,415   (1,268   12,021      0      (9,662

Income tax expense (benefit)

  (8,457   (444   4,932      0      (3,969

Equity in earnings (loss) of affiliates

  6,261      0      (587   (5,674   0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) including noncontrolling interest

  (5,697   (824   6,502      (5,674   (5,693

Net income attributable to noncontrolling interest

  0      4      0      0      4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Central Garden & Pet Company

$ (5,697 $ (828 $ 6,502    $ (5,674 $ (5,697
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Three Months Ended December 28, 2013 (As Revised)
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
    Eliminations     Consolidated  

Net sales

   $ 86,233      $ 13,386      $ 203,022      $ (12,120   $ 290,521   

Cost of goods sold and occupancy

     68,491        11,009        142,502        (11,222     210,780   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

  17,742      2,377      60,520      (898   79,741   

Selling, general and administrative expenses

  25,856      3,417      59,721      (898   88,096   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) from operations

  (8,114   (1,040   799      0      (8,355

Interest expense

  (12,190   (7   (20   0      (12,217

Interest income

  12      1      0      0      13   

Other expense

  (43   0      (125   0      (168
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income (loss) before taxes and equity in loss of affiliates

  (20,335   (1,046   654      0      (20,727

Income tax expense (benefit)

  (7,807   (315   207      0      (7,915

Equity in loss of affiliates

  (180   0      (300   480      0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) including noncontrolling interest

  (12,708   (731   147      480      (12,812

Net loss attributable to noncontrolling interest

  0      (104   0      0      (104
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to Central Garden & Pet Company

$ (12,708 $ (627 $ 147    $ 480    $ (12,708
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Consolidating Condensed Statements of Comprehensive Income (Loss) Based on Company's Understanding of SEC's Interpretation
     CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)

Three Months Ended December 27, 2014
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
    Eliminations     Consolidated  

Net income (loss)

   $ (5,697   $ (824   $ 6,502      $ (5,674   $ (5,693

Other comprehensive loss:

          

Foreign currency translation

     (552     (345     (104     449        (552

Unrealized loss on securities

     (10     (0     (0     (0     (10
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income (loss)

  (6,259   (1,169   6,398      (5,225   (6,255

Comprehensive income attributable to noncontrolling interests

  0      4      0      0      4   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Comprehensive income (loss) attributable to Central Garden & Pet Company

$ (6,259 $ (1,173 $ 6,398    $ (5,225 $ (6,259
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)

Three Months Ended December 28, 2013 (As Revised)
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
     Eliminations      Consolidated  

Net income (loss)

   $ (12,708   $ (731   $ 147       $ 480       $ (12,812

Other comprehensive income:

            

Foreign currency translation

     0        85        0         0         85   
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Total comprehensive income (loss)

  (12,708   (646   147      480      (12,727

Comprehensive loss attributable to noncontrolling interests

  0      (104   0      0      (104
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 

Comprehensive income (loss) attributable to Central Garden & Pet Company

$ (12,708 $ (542 $ 147    $ 480    $ (12,623
  

 

 

   

 

 

   

 

 

    

 

 

    

 

 

 
Consolidating Condensed Balance Sheet Based on Company's Understanding of SEC's Interpretation

 

     CONSOLIDATING CONDENSED BALANCE SHEET
December 27, 2014
(in thousands)
 
     Parent      Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
     Eliminations     Consolidated  

ASSETS

            

Cash and cash equivalents

   $ 71,579       $ 5,505      $ 2,504       $ 0      $ 79,588   

Restricted cash

     19,690         0        0         0        19,690   

Short term investments

     9,992         0        0         0        9,992   

Accounts receivable, net

     38,580         7,573        96,724         0        142,877   

Inventories

     101,870         22,481        275,585         0        399,936   

Prepaid expenses and other

     33,095         962        30,223         0        64,280   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current assets

  274,806      36,521      405,036      0      716,363   

Land, buildings, improvements and equipment, net

  59,829      3,607      100,110      0      163,546   

Goodwill

  0      0      208,233      0      208,233   

Other long term assets

  21,809      4,121      83,088      (8,197   100,821   

Intercompany receivable

  37,337      0      378,847      (416,184   0   

Investment in subsidiaries

  989,226      0      0      (989,226   0   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,383,007    $ 44,249    $ 1,175,314    $ (1,413,607 $ 1,188,963   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

LIABILITIES AND EQUITY

Accounts payable

$ 39,847    $ 10,077    $ 78,561    $ 0    $ 128,485   

Accrued expenses

  47,888      1,751      43,569      0      93,208   

Current portion of long-term debt

  50,259      0      30      0      50,289   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current liabilities

  137,994      11,828      122,160      0      271,982   

Long-term debt

  399,826      0      87      0      399,913   

Intercompany payable

  368,765      47,419      0      (416,184   0   

Losses in excess of investment in subsidiaries

  0      0      14,900      (14,900   0   

Other long-term obligations

  1,620      0      48,789      (8,197   42,212   

Central Garden & Pet shareholders’ equity

  474,802      (15,052   989,378      (974,326   474,802   

Noncontrolling interest

  0      54      0      0      54   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total equity

  474,802      (14,998   989,378      (974,326   474,856   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,383,007    $ 44,249    $ 1,175,314    $ (1,413,607 $ 1,188,963   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

 

     CONSOLIDATING CONDENSED BALANCE SHEET
December 28, 2013 (As Revised)
(in thousands)
 
     Parent      Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
     Eliminations     Consolidated  

ASSETS

            

Cash and cash equivalents

   $ 8,862       $ 4,280      $ 3,569       $ 0      $ 16,711   

Restricted cash

     0         0        0         0        0   

Short term investments

     14,220         0        0         0        14,220   

Accounts receivable, net

     36,241         5,984        100,880         0        143,105   

Inventories

     110,337         26,567        290,535         0        427,439   

Prepaid expenses and other

     33,814         953        34,333         0        69,100   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current assets

  203,474      37,784      429,317      0      670,575   

Land, buildings, improvements and equipment, net

  74,595      2,395      110,148      0      187,138   

Goodwill

  0      0      205,756      0      205,756   

Other long term assets

  23,907      3,737      73,532      (8,677   92,499   

Intercompany receivable

  15,840      0      283,318      (299,158   0   

Investment in subsidiaries

  932,224      0      0      (932,224   0   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,250,040    $ 43,916    $ 1,102,071    $ (1,240,059 $ 1,155,968   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

LIABILITIES AND EQUITY

Accounts payable

$ 43,748    $ 7,152    $ 69,648    $ 0    $ 120,548   

Accrued expenses

  43,137      1,483      43,892      0      88,512   

Current portion of long-term debt

  39      0      34      0      73   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current liabilities

  86,924      8,635      113,574      0      209,133   

Long-term debt

  449,444      0      21      0      449,465   

Intercompany payable

  254,043      45,115      (299,158

Losses in excess of investment in subsidiaries

  0      0      9,399      (9,399   0   

Other long-term obligations

  1,735      0      45,809      (8,677   38,867   

Central Garden & Pet shareholders’ equity

  457,894      (10,443   933,268      (922,825   457,894   

Noncontrolling interest

  0      609      0      0      609   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total equity

  457,894      (9,834   933,268      (922,825   458,503   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,250,040    $ 43,916    $ 1,102,071    $ (1,240,059 $ 1,155,968   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

 

     CONSOLIDATING CONDENSED BALANCE SHEET
September 27, 2014
(in thousands)
 
     Parent      Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
     Eliminations     Consolidated  

ASSETS

            

Cash and cash equivalents

   $ 63,471       $ 12,806      $ 2,399       $ 0      $ 78,676   

Restricted cash

     14,283         0        0         0        14,283   

Short term investments

     9,990         0        0         0        9,990   

Accounts receivable, net

     41,235         8,268        144,226         0        193,729   

Inventories

     79,199         15,210        231,977         0        326,386   

Prepaid expenses and other

     26,092         816        21,580         0        48,488   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current assets

  234,270      37,100      400,182      0      671,552   

Land, buildings, improvements and equipment, net

  63,059      3,649      100,141      0      166,849   

Goodwill

  0      0      208,233      0      208,233   

Other long term assets

  25,230      4,244      83,713      (11,094   102,093   

Intercompany receivable

  16,906      0      351,423      (368,329   0   

Investment in subsidiaries

  983,413      0      0      (983,413   0   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,322,878    $ 44,993    $ 1,143,692    $ (1,362,836 $ 1,148,727   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

LIABILITIES AND EQUITY

Accounts payable

$ 28,937    $ 3,542    $ 55,949    $ 0    $ 88,428   

Accrued expenses

  34,151      1,868      48,360      0      84,379   

Current portion of long term debt

  261      0      30      0      291   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total current liabilities

  63,349      5,410      104,339      0      173,098   

Long-term debt

  449,855      0      93      0      449,948   

Intercompany payable

  323,314      45,015      0      (368,329   0   

Losses in excess of investment in subsidiaries

  0      0      7,594      (7,594   0   

Other long-term obligations

  1,636      0      48,686      (11,094   39,228   

Central Garden & Pet shareholders’ equity

  484,724      (7,162   982,980      (975,819   484,723   

Noncontrolling interest

  0      1,730      0      0      1,730   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total equity

  484,724      (5,432   982,980      (975,819   486,453   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

Total

$ 1,322,878    $ 44,993    $ 1,143,692    $ (1,362,836 $ 1,148,727   
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

Consolidating Condensed Statement of Cash Flows Based on Company's Understanding of SEC's Interpretation
     CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS
Three Months Ended December 27, 2014
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
    Guarantor
Subsidiaries
    Eliminations     Consolidated  

Net cash (used) provided by operating activities

   $ (6,874   $ (1,400   $ 30,845      $ (6,719   $ 15,852   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Additions to property, plant and equipment

     (589     (64     (3,416     0        (4,069

Businesses acquired, net of cash acquired

     0        0        0        0        0   

Proceeds from disposal of plant and equipment

     0        0        0        0        0   

Change in restricted cash and cash equivalents

     (5,407     0        0        0        (5,407

Maturities of short term investments

     0        0        0        0        0   

Investment in short term investments

     (12     0        0        0        (12

Intercompany investing activities

     (20,431     0        (27,423     47,854        0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash (used) provided by investing activities

     (26,439     (64     (30,839     47,854        (9,488
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Repayments on revolving line of credit

     0        0        0        0        0   

Borrowings on revolving line of credit

     0        0        0        0        0   

Repayments of long-term debt

     (67     0        (5     0        (72

Proceeds from issuance of common stock

     188        0        0        0        188   

Excess tax benefits from stock-based awards

     40        0        0        0        40   

Repurchase of common stock

     (3,742     0        0        0        (3,742

Payment of deferred financing costs

     0        0        0        0        0   

Distribution to parent

     0        (6,719     0        6,719        0   

Distribution to noncontrolling interest

     0        (1,680     0        0        (1,680

Intercompany financing activities

     45,450        2,404        0        (47,854     0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided (used) by financing activities

     41,869        (5,995     (5     (41,135     (5,266
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Effect of exchange rates on cash

     (448     158        104        0        (186
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash and cash equivalents

     8,108        (7,301     105        0        912   

Cash and cash equivalents at beginning of year

     63,471        12,806        2,399        0        78,676   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents at end of year

   $ 71,579      $ 5,505      $ 2,504      $ 0      $ 79,588   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS
Three Months Ended December 28, 2013 (As Revised)
(in thousands)
 
     Parent     Non-Guarantor
Subsidiaries
   

Guarantor

Subsidiaries

    Eliminations     Consolidated  

Net cash (used) provided by operating activities

   $ (7,093   $ (1,954   $ 41,590      $ (2,534   $ 30,009   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Additions to property, plant and equipment

  (1,351   (200   (3,826   0      (5,377

Businesses acquired, net of cash acquired

  0      0      0      0      0   

Proceeds from disposal of plant and equipment

  0      0      0      0      0   

Change in restricted cash and cash equivalents

  0      0      0      0      0   

Maturities of short term investments

  3,600      0      0      0      3,600   

Investment in short term investments

  0      0      0      0      0   

Intercompany investing activities

  (5,660   0      (36,821   42,481      0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash (used) provided by investing activities

  (3,411   (200   (40,647   42,481      (1,777
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Repayments on revolving line of credit

  (68,000   0      0      0      (68,000

Borrowings on revolving line of credit

  45,000      0      0      0      45,000   

Repayments of long-term debt

  (39   0      (37   0      (76

Proceeds from issuance of common stock

  200      0      0      0      200   

Excess tax benefits from stock-based awards

  171      0      0      0      171   

Repurchase of common stock

  (401   0      0      0      (401

Payment of deferred financing costs

  (2,985   0      0      0      (2,985

Distribution to parent

  0      (2,534   0      2,534      0   

Distribution to noncontrolling interest

  0      (633   0      0      (633

Intercompany financing activities

  39,785      2,696      0      (42,481   0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided (used) by financing activities

  13,731      (471   (37   (39,947   (26,724
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Effect of exchange rates on cash

  197      (98   (52   0      47   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash and cash equivalents

  3,424      (2,723   854      0      1,555   

Cash and cash equivalents at beginning of year

  5,438      7,003      2,715      0      15,156   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents at end of year

$ 8,862    $ 4,280    $ 3,569    $ 0    $ 16,711   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Schedule of Error Corrections for Consolidating Condensed Financial Statements to Present Results for Non-Guarantor Subsidiaries

The Company assessed the materiality of these items on previously issued financial statements in accordance with SEC Staff Accounting Bulletins No. 99 and No. 108, and concluded that the revisions were not material to the Consolidating Condensed Financial Statements. The impact of these revisions is shown in the following tables:

 

    

CONSOLIDATING CONDENSED

STATEMENT OF OPERATIONS

Three Months Ended December 28, 2013

 
     As previously reported      Adjustments      As revised  

Parent

   $ (8,783    $ 669       $ (8,114

Non-guarantor subsidiaries

     0         (1,040      (1,040

Guarantor subsidiaries

     428         371         799   

Eliminations

     0         0         0   
  

 

 

    

 

 

    

 

 

 

Income (loss) from operations

  (8,355   0      (8,355

Parent

  (12,708   0      (12,708

Non-guarantor subsidiaries

  0      (627   (627

Guarantor subsidiaries

  (108   255      147   

Eliminations

  108      372      480   
  

 

 

    

 

 

    

 

 

 

Net loss attributable to Central Garden & Pet Company

$ (12,708 $ 0    $ (12,708

 

 

    

CONSOLIDATING CONDENSED

STATEMENT OF COMPREHENSIVE INCOME

Three Months Ended December 28, 2013

 
     As previously reported     Adjustments     As revised  

Parent

   $ (12,704   $ (4   $ (12,708

Non-guarantor subsidiaries

     0        (731     (731

Guarantor subsidiaries

     (108     255        147   

Eliminations

     0        480        480   
  

 

 

   

 

 

   

 

 

 

Net loss

  (12,812   0      (12,812

Parent

  (12,619   (89   (12,708

Non-guarantor subsidiaries

  0      (646   (646

Guarantor subsidiaries

  (108   255      147   

Eliminations

  0      480      480   
  

 

 

   

 

 

   

 

 

 

Total comprehensive loss

  (12,727   0      (12,727

Parent

  (12,515   (193   (12,708

Non-guarantor subsidiaries

  0      (542   (542

Guarantor subsidiaries

  (108   255      147   

Eliminations

  0      480      480   
  

 

 

   

 

 

   

 

 

 

Comprehensive loss Central Garden & Pet Company

$ (12,623 $ 0    $ (12,623

 

    

CONSOLIDATING CONDENSED

BALANCE SHEET

Three Months Ended December 28, 2013

 
     As previously reported     Adjustments     As revised  

Parent

   $ 243,083      $ (39,609   $ 203,474   

Non-guarantor subsidiaries

     0        37,784        37,784   

Guarantor subsidiaries

     432,234        (2,917     429,317   

Eliminations

     (4,742     4,742        0   
  

 

 

   

 

 

   

 

 

 

Current assets

  670,575      0      670,575   

Parent

  1,035,812      214,228      1,250,040   

Non-guarantor subsidiaries

  0      43,916      43,916   

Guarantor subsidiaries

  782,817      319,254      1,102,071   

Eliminations

  (662,661   (577,398   (1,240,059
  

 

 

   

 

 

   

 

 

 

Total assets

$ 1,155,968    $ 0    $ 1,155,968   

Parent

$ 95,493    $ (8,569 $ 86,924   

Non-guarantor subsidiaries

  0      8,635      8,635   

Guarantor subsidiaries

  118,382      (4,808   113,574   

Eliminations

  (4,742   4,742      0   
  

 

 

   

 

 

   

 

 

 

Current liabilities

  209,133      0      209,133   

Parent

  458,503      (609   457,894   

Non-guarantor subsidiaries

  0      (9,834   (9,834

Guarantor subsidiaries

  657,919      275,349      933,268   

Eliminations

  (657,919   (264,906   (922,825
  

 

 

   

 

 

   

 

 

 

Total stockholders’ equity

$ 458,503    $ 0    $ 458,503   

 

    

CONSOLIDATING CONDENSED STATEMENT
OF CASH FLOWS

Three Months Ended December 28, 2013

 
     As previously reported     Adjustments     As revised  

Parent

   $ (10,458   $ 3,365      $ (7,093

Non-guarantor subsidiaries

     0        (1,954     (1,954

Guarantor subsidiaries

     40,359        1,231        41,590   

Eliminations

     108        (2,642     (2,534
  

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) operating activities

  30,009      0      30,009   

Parent

  37,747      (41,158   (3,411

Non-guarantor subsidiaries

  0      (200   (200

Guarantor subsidiaries

  (39,416   (1,231   (40,647

Eliminations

  (108   42,589      42,481   
  

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) investing activities

  (1,777   0      (1,777

Parent

  (26,687   40,418      13,731   

Non-guarantor subsidiaries

  0      (471   (471

Guarantor subsidiaries

  (37   (0   (37

Eliminations

  0      (39,947   (39,947
  

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) financing activities

$ (26,724 $ 0    $ (26,724