SUPPLEMENTAL GUARANTOR INFORMATION | 6 Months Ended |
Mar. 28, 2015 |
SUPPLEMENTAL GUARANTOR INFORMATION | 13 | SUPPLEMENTAL GUARANTOR INFORMATION | | | | | | | | | | | | | | | | | | | | | | | |
|
TransDigm’s 2020 Notes, 2021 Notes, 2022 Notes and 2024 Notes are jointly and severally guaranteed, on a senior subordinated basis, by TD Group and TransDigm Inc.’s 100% Domestic Restricted Subsidiaries, as defined in the Indentures. The following supplemental condensed consolidating financial information presents, in separate columns, the balance sheets of the Company as of March 28, 2015 and September 30, 2014 and its statements of income and comprehensive income and cash flows for the twenty-six week periods ended March 28, 2015 and March 29, 2014 for (i) TransDigm Group on a parent only basis with its investment in subsidiaries recorded under the equity method, (ii) TransDigm Inc. including its directly owned operations and non-operating entities, (iii) the Subsidiary Guarantors on a combined basis, (iv) Non-Guarantor Subsidiaries and (v) the Company on a consolidated basis. |
|
Separate financial statements of TransDigm Inc. are not presented because TransDigm Inc.’s 2020 Notes, 2021 Notes, 2022 Notes and 2024 Notes are fully and unconditionally guaranteed on a senior subordinated basis by TD Group and all existing 100% owned domestic subsidiaries of TransDigm Inc. and because TD Group has no significant operations or assets separate from its investment in TransDigm Inc. |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING BALANCE SHEET |
|
AS OF MARCH 28, 2015 |
|
(Amounts in thousands) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
CURRENT ASSETS: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 154 | | | $ | 358,954 | | | $ | (965 | ) | | $ | 34,376 | | | $ | — | | | $ | 392,519 | |
Trade accounts receivable - Net | | | — | | | | (235 | ) | | | 24,467 | | | | 398,689 | | | | (3,285 | ) | | | 419,636 | |
Inventories - Net | | | — | | | | 35,136 | | | | 427,596 | | | | 91,025 | | | | (700 | ) | | | 553,057 | |
Deferred income taxes | | | — | | | | 36,645 | | | | — | | | | — | | | | — | | | | 36,645 | |
Prepaid expenses and other | | | — | | | | 42,437 | | | | 14,129 | | | | 8,899 | | | | — | | | | 65,465 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 154 | | | | 472,937 | | | | 465,227 | | | | 532,989 | | | | (3,985 | ) | | | 1,467,322 | |
| | | | | | |
INVESTMENT IN SUBSIDIARIES AND INTERCOMPANY BALANCES | | $ | (1,326,362 | ) | | $ | 6,070,783 | | | $ | 4,084,770 | | | $ | (58,824 | ) | | $ | (8,770,367 | ) | | $ | — | |
PROPERTY, PLANT AND EQUIPMENT - Net | | | — | | | | 15,766 | | | | 175,787 | | | | 40,782 | | | | — | | | | 232,335 | |
GOODWILL | | | — | | | | 154,463 | | | | 3,639,870 | | | | 151,002 | | | | — | | | | 3,945,335 | |
TRADEMARKS AND TRADE NAMES | | | — | | | | 31,748 | | | | 546,053 | | | | 56,820 | | | | — | | | | 634,621 | |
OTHER INTANGIBLE ASSETS - Net | | | — | | | | 7,595 | | | | 815,099 | | | | 18,768 | | | | (1,460 | ) | | | 840,002 | |
DEBT ISSUE COSTS - Net | | | — | | | | 84,413 | | | | — | | | | 73 | | | | — | | | | 84,486 | |
OTHER | | | — | | | | 8,033 | | | | 11,812 | | | | 2,266 | | | | — | | | | 22,111 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
TOTAL ASSETS | | $ | (1,326,208 | ) | | $ | 6,845,738 | | | $ | 9,738,618 | | | $ | 743,876 | | | $ | (8,775,812 | ) | | $ | 7,226,212 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
LIABILITIES AND STOCKHOLDERS’ | | | | | | | | | | | | | | | | | | | | | | | | |
(DEFICIT) EQUITY |
CURRENT LIABILITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | — | | | $ | 39,295 | | | $ | — | | | $ | — | | | $ | — | | | $ | 39,295 | |
Short-term borrowings - trade receivable securitization facility | | | — | | | | — | | | | — | | | $ | 200,000 | | | | — | | | $ | 200,000 | |
Accounts payable | | | — | | | | 13,179 | | | | 84,556 | | | | 26,314 | | | | (3,393 | ) | | | 120,656 | |
Accrued liabilities | | | — | | | | 121,867 | | | | 84,295 | | | | 47,403 | | | | — | | | | 253,565 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 174,341 | | | | 168,851 | | | | 273,717 | | | | (3,393 | ) | | | 613,516 | |
| | | | | | |
LONG-TERM DEBT | | | — | | | | 7,299,262 | | | | — | | | | — | | | | — | | | | 7,299,262 | |
DEFERRED INCOME TAXES | | | — | | | | 483,670 | | | | — | | | | (267 | ) | | | — | | | | 483,403 | |
OTHER NON-CURRENT LIABILITIES | | | — | | | | 80,643 | | | | 38,697 | | | | 36,899 | | | | — | | | | 156,239 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 8,037,916 | | | | 207,548 | | | | 310,349 | | | | (3,393 | ) | | | 8,552,420 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
STOCKHOLDERS’ (DEFICIT) EQUITY | | | (1,326,208 | ) | | | (1,192,178 | ) | | | 9,531,070 | | | | 433,527 | | | | (8,772,419 | ) | | | (1,326,208 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | | $ | (1,326,208 | ) | | $ | 6,845,738 | | | $ | 9,738,618 | | | $ | 743,876 | | | $ | (8,775,812 | ) | | $ | 7,226,212 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING BALANCE SHEET |
|
AS OF SEPTEMBER 30, 2014 |
|
(Amounts in thousands) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
CURRENT ASSETS: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 2,088 | | | $ | 782,648 | | | $ | 3,793 | | | $ | 31,019 | | | $ | — | | | $ | 819,548 | |
Trade accounts receivable - Net | | | — | | | | (305 | ) | | | 1,711 | | | | 351,881 | | | | (1,980 | ) | | | 351,307 | |
Inventories - Net | | | — | | | | 32,287 | | | | 382,016 | | | | 45,471 | | | | (700 | ) | | | 459,074 | |
Deferred income taxes | | | — | | | | 37,669 | | | | — | | | | — | | | | — | | | | 37,669 | |
Prepaid expenses and other | | | — | | | | 2,040 | | | | 14,789 | | | | 5,149 | | | | — | | | | 21,978 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 2,088 | | | | 854,339 | | | | 402,309 | | | | 433,520 | | | | (2,680 | ) | | | 1,689,576 | |
| | | | | | |
INVESTMENT IN SUBSIDIARIES AND INTERCOMPANY BALANCES | | | (1,558,187 | ) | | | 5,327,465 | | | | 3,758,085 | | | | (59,788 | ) | | | (7,467,575 | ) | | | — | |
PROPERTY, PLANT AND EQUIPMENT - Net | | | — | | | | 15,884 | | | | 167,257 | | | | 28,967 | | | | — | | | | 212,108 | |
GOODWILL | | | — | | | | 64,461 | | | | 3,289,295 | | | | 171,321 | | | | — | | | | 3,525,077 | |
TRADEMARKS AND TRADE NAMES | | | — | | | | 19,377 | | | | 449,706 | | | | 45,437 | | | | — | | | | 514,520 | |
OTHER INTANGIBLE ASSETS - Net | | | — | | | | 20,689 | | | | 642,305 | | | | 41,099 | | | | (1,460 | ) | | | 702,633 | |
DEBT ISSUE COSTS - Net | | | — | | | | 92,155 | | | | — | | | | 238 | | | | — | | | | 92,393 | |
OTHER | | | — | | | | 7,845 | | | | 11,754 | | | | 942 | | | | — | | | | 20,541 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
TOTAL ASSETS | | $ | (1,556,099 | ) | | $ | 6,402,215 | | | $ | 8,720,711 | | | $ | 661,736 | | | $ | (7,471,715 | ) | | $ | 6,756,848 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
LIABILITIES AND STOCKHOLDERS’ | | | | | | | | | | | | | | | | | | | | | | | | |
(DEFICIT) EQUITY |
CURRENT LIABILITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Current portion of long-term debt | | $ | — | | | $ | 39,295 | | | $ | — | | | $ | — | | | $ | — | | | $ | 39,295 | |
Short-term borrowings - trade receivable securitization facility | | | — | | | | — | | | | — | | | | 200,000 | | | | — | | | | 200,000 | |
Accounts payable | | | — | | | | 17,629 | | | | 85,328 | | | | 14,768 | | | | (1,984 | ) | | | 115,741 | |
Accrued liabilities | | | — | | | | 106,631 | | | | 98,308 | | | | 25,932 | | | | — | | | | 230,871 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 163,555 | | | | 183,636 | | | | 240,700 | | | | (1,984 | ) | | | 585,907 | |
| | | | | | |
LONG-TERM DEBT | | | — | | | | 7,233,836 | | | | — | | | | — | | | | — | | | | 7,233,836 | |
DEFERRED INCOME TAXES | | | — | | | | 402,538 | | | | — | | | | (291 | ) | | | — | | | | 402,247 | |
OTHER NON-CURRENT LIABILITIES | | | — | | | | 42,470 | | | | 42,445 | | | | 6,042 | | | | — | | | | 90,957 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 7,842,399 | | | | 226,081 | | | | 246,451 | | | | (1,984 | ) | | | 8,312,947 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
STOCKHOLDERS’ (DEFICIT) EQUITY | | | (1,556,099 | ) | | | (1,440,184 | ) | | | 8,494,630 | | | | 415,285 | | | | (7,469,731 | ) | | | (1,556,099 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | | $ | (1,556,099 | ) | | $ | 6,402,215 | | | $ | 8,720,711 | | | $ | 661,736 | | | $ | (7,471,715 | ) | | $ | 6,756,848 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME |
|
FOR THE TWENTY-SIX WEEK PERIOD ENDED MARCH 28, 2015 |
|
(Amounts in thousands) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
NET SALES | | $ | — | | | $ | 62,646 | | | $ | 1,048,889 | | | $ | 100,762 | | | $ | (6,369 | ) | | $ | 1,205,928 | |
| | | | | | |
COST OF SALES | | | — | | | | 37,365 | | | | 445,207 | | | | 66,935 | | | | (6,369 | ) | | | 543,138 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
GROSS PROFIT | | | — | | | | 25,281 | | | | 603,682 | | | | 33,827 | | | | — | | | | 662,790 | |
| | | | | | |
SELLING AND ADMINISTRATIVE EXPENSES | | | — | | | | 34,469 | | | | 90,974 | | | | 16,062 | | | | — | | | | 141,505 | |
AMORTIZATION OF INTANGIBLE ASSETS | | | — | | | | 694 | | | | 20,883 | | | | 2,479 | | | | — | | | | 24,056 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
INCOME (LOSS) FROM OPERATIONS | | | — | | | | (9,882 | ) | | | 491,825 | | | | 15,286 | | | | — | | | | 497,229 | |
INTEREST EXPENSE - Net | | | — | | | | 204,309 | | | | 15 | | | | (5,497 | ) | | | — | | | | 198,827 | |
| | | | | | |
EQUITY IN INCOME OF SUBSIDIARIES | | | (206,427 | ) | | | (352,149 | ) | | | — | | | | — | | | | 558,576 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
INCOME BEFORE INCOME TAXES | | | 206,427 | | | | 137,958 | | | | 491,810 | | | | 20,783 | | | | (558,576 | ) | | | 298,402 | |
| | | | | | |
INCOME TAX PROVISION (BENEFIT) | | | — | | | | (68,469 | ) | | | 154,777 | | | | 5,667 | | | | — | | | | 91,975 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
NET INCOME | | $ | 206,427 | | | $ | 206,427 | | | $ | 337,033 | | | $ | 15,116 | | | $ | (558,576 | ) | | $ | 206,427 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF TAX | | | (59,237 | ) | | | (34,567 | ) | | | (700 | ) | | | (36,850 | ) | | | 72,117 | | | | (59,237 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
TOTAL COMPREHENSIVE INCOME | | $ | 147,190 | | | $ | 171,860 | | | $ | 336,333 | | | $ | (21,734 | ) | | $ | (486,459 | ) | | $ | 147,190 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME |
|
FOR THE TWENTY-SIX WEEK PERIOD ENDED MARCH 29, 2014 |
|
(Amounts in thousands) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
NET SALES | | $ | — | | | $ | 59,065 | | | $ | 975,281 | | | $ | 90,395 | | | $ | (4,658 | ) | | $ | 1,120,083 | |
| | | | | | |
COST OF SALES | | | — | | | | 35,692 | | | | 432,613 | | | | 64,941 | | | | (4,881 | ) | | | 528,365 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
GROSS PROFIT | | | — | | | | 23,373 | | | | 542,668 | | | | 25,454 | | | | 223 | | | | 591,718 | |
| | | | | | |
SELLING AND ADMINISTRATIVE EXPENSES | | | — | | | | 29,740 | | | | 84,867 | | | | 14,008 | | | | — | | | | 128,615 | |
| | | | | | |
AMORTIZATION OF INTANGIBLE ASSETS | | | — | | | | 694 | | | | 31,118 | | | | 2,171 | | | | — | | | | 33,983 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
INCOME (LOSS) FROM OPERATIONS | | | — | | | | (7,061 | ) | | | 426,683 | | | | 9,275 | | | | 223 | | | | 429,120 | |
| | | | | | |
INTEREST EXPENSE - Net | | | — | | | | 162,134 | | | | 94 | | | | 914 | | | | — | | | | 163,142 | |
EQUITY IN INCOME OF SUBSIDIARIES | | | (176,478 | ) | | | (275,926 | ) | | | — | | | | — | | | | 452,404 | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
INCOME BEFORE INCOME TAXES | | | 176,478 | | | | 106,731 | | | | 426,589 | | | | 8,361 | | | | (452,181 | ) | | | 265,978 | |
| | | | | | |
INCOME TAX PROVISION (BENEFIT) | | | — | | | | (69,747 | ) | | | 153,204 | | | | 6,043 | | | | — | | | | 89,500 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
NET INCOME | | $ | 176,478 | | | $ | 176,478 | | | $ | 273,385 | | | $ | 2,318 | | | $ | (452,181 | ) | | $ | 176,478 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX | | | 5,885 | | | | (343 | ) | | | 1,018 | | | | 5,111 | | | | (5,786 | ) | | | 5,885 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
TOTAL COMPREHENSIVE INCOME | | $ | 182,363 | | | $ | 176,135 | | | $ | 274,403 | | | $ | 7,429 | | | $ | (457,967 | ) | | $ | 182,363 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
|
FOR THE TWENTY-SIX WEEK PERIOD ENDED MARCH 28, 2015 |
|
(Amounts in thousands) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
NET CASH (USED IN) PROVIDED BY | | | | | | | | | | | | | | | | | | | | | | | | |
OPERATING ACTIVITIES | | $ | — | | | $ | (72,472 | ) | | $ | 268,461 | | | $ | (12,969 | ) | | $ | (104 | ) | | $ | 182,916 | |
| | | | | | |
INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | — | | | | (976 | ) | | | (19,165 | ) | | | (2,858 | ) | | | — | | | | (22,999 | ) |
Acquisition of business, net of cash acquired | | | — | | | | (723,200 | ) | | | — | | | | — | | | | — | | | | (723,200 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (724,176 | ) | | | (19,165 | ) | | | (2,858 | ) | | | — | | | | (746,199 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Intercompany activities | | | (141,146 | ) | | | 372,995 | | | | (254,054 | ) | | | 22,101 | | | | 104 | | | | — | |
Excess tax benefits related to share-based payment arrangements | | | 38,029 | | | | — | | | | — | | | | — | | | | — | | | | 38,029 | |
Proceeds from exercise of stock options | | | 39,122 | | | | — | | | | — | | | | — | | | | — | | | | 39,122 | |
Dividends paid | | | (3,365 | ) | | | — | | | | — | | | | — | | | | — | | | | (3,365 | ) |
Repayment of credit facility | | | (9,824 | ) | | | — | | | | | | | | | | | | | | | | (9,824 | ) |
Proceeds from credit revolver | | | 75,250 | | | | — | | | | | | | | | | | | | | | | 75,250 | |
Other | | | — | | | | (41 | ) | | | — | | | | — | | | | — | | | | (41 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by financing activities | | | (1,934 | ) | | | 372,954 | | | | (254,054 | ) | | | 22,101 | | | | 104 | | | | 139,171 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | — | | | | — | | | | — | | | | (2,917 | ) | | | — | | | | (2,917 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | | | (1,934 | ) | | | (423,694 | ) | | | (4,758 | ) | | | 3,357 | | | | — | | | | (427,029 | ) |
| | | | | | |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | | | 2,088 | | | | 782,648 | | | | 3,793 | | | | 31,019 | | | | — | | | | 819,548 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 154 | | | $ | 358,954 | | | $ | (965 | ) | | $ | 34,376 | | | $ | — | | | $ | 392,519 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
TRANSDIGM GROUP INCORPORATED |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
|
FOR THE TWENTY-SIX WEEK PERIOD ENDED MARCH 29, 2014 |
|
(Amounts in thousands) |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | TransDigm | | | TransDigm | | | Subsidiary | | | Non- | | | | | | Total | |
Guarantor |
| | Group | | | Inc. | | | Guarantors | | | Subsidiaries | | | Eliminations | | | Consolidated | |
NET CASH PROVIDED BY (USED IN) | | | | | | | | | | | | | | | | | | | | | | | | |
OPERATING ACTIVITIES | | $ | — | | | $ | (74,534 | ) | | $ | 279,875 | | | $ | 21,275 | | | $ | (6,128 | ) | | $ | 220,488 | |
| | | | | | |
INVESTING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | — | | | | (1,573 | ) | | | (14,669 | ) | | | (1,467 | ) | | | — | | | | (17,709 | ) |
Cash proceeds from sale of real estate | | | — | | | | — | | | | 16,380 | | | | — | | | | — | | | | 16,380 | |
Acquisition of business, net of cash acquired | | | — | | | | (311,016 | ) | | | — | | | | — | | | | — | | | | (311,016 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by investing activities | | | — | | | | (312,589 | ) | | | 1,711 | | | | (1,467 | ) | | | — | | | | (312,345 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
FINANCING ACTIVITIES: | | | | | | | | | | | | | | | | | | | | | | | | |
Intercompany activities | | | (11,258 | ) | | | 292,401 | | | | (289,119 | ) | | | (9,949 | ) | | | 17,925 | | | | — | |
Excess tax benefits related to share-based payment arrangements | | | 10,698 | | | | — | | | | — | | | | — | | | | — | | | | 10,698 | |
Proceeds from exercise of stock options | | | 9,422 | | | | — | | | | — | | | | — | | | | — | | | | 9,422 | |
Dividends paid | | | (9,625 | ) | | | — | | | | — | | | | — | | | | — | | | | (9,625 | ) |
Repayment on 2013 credit facility | | | — | | | | (7,761 | ) | | | — | | | | — | | | | — | | | | (7,761 | ) |
Other | | | — | | | | (78 | ) | | | — | | | | — | | | | — | | | | (78 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by financing activities | | | (763 | ) | | | 284,562 | | | | (289,119 | ) | | | (9,949 | ) | | | 17,925 | | | | 2,656 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | — | | | | — | | | | — | | | | 152 | | | | — | | | | 152 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | | | (763 | ) | | | (102,561 | ) | | | (7,533 | ) | | | 10,011 | | | | 11,797 | | | | (89,049 | ) |
| | | | | | |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | | | 1,313 | | | | 536,863 | | | | 7,900 | | | | 18,664 | | | | — | | | | 564,740 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
CASH AND CASH EQUIVALENTS, END OF PERIOD | | $ | 550 | | | $ | 434,302 | | | $ | 367 | | | $ | 28,675 | | | $ | 11,797 | | | $ | 475,691 | |
| | | | | | | | | | | | | | | | | | | | | | | | |