Condensed Consolidating Financial Statements | 6 Months Ended |
Jun. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Condensed consolidating financial statements | ' |
Condensed consolidating financial statements |
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As of June 30, 2014, the majority of EXCO’s subsidiaries were guarantors under the EXCO Resources Credit Agreement and the indenture governing the 2018 Notes and 2022 Notes. All of our non-guarantor subsidiaries were considered unrestricted subsidiaries under the indenture governing the 2018 Notes and 2022 Notes, with the exception of our equity investment in OPCO. As of and for the six months ended June 30, 2014, our equity method investment in OPCO represented $11.0 million of equity method investments and contributed $1.9 million of equity method losses. |
Set forth below are condensed consolidating financial statements of EXCO, the guarantor subsidiaries and the non-guarantor subsidiaries. The 2018 Notes and 2022 Notes, which were issued by EXCO Resources, Inc., are jointly and severally guaranteed by some of our subsidiaries (referred to as Guarantor Subsidiaries). For purposes of this footnote, EXCO Resources, Inc. is referred to as Resources to distinguish it from the Guarantor Subsidiaries. Each of the Guarantor Subsidiaries is a 100% owned subsidiary of Resources and the guarantees are unconditional as they relate to the assets of the Guarantor Subsidiaries. |
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The following financial information presents consolidating financial statements, which include: |
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| | | | | | | | | | | | | | | | | | | | |
• | Resources; | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
• | the Guarantor Subsidiaries; | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
• | the Non-Guarantor Subsidiaries; | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
• | elimination entries necessary to consolidate Resources, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries; and | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
• | EXCO on a consolidated basis. | | | | | | | | | | | | | | | | | | | |
Investments in subsidiaries are accounted for using the equity method of accounting for the disclosures within this footnote. The financial information for the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries is presented on a combined basis. The elimination entries primarily eliminate investments in subsidiaries and intercompany balances and transactions. |
EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING BALANCE SHEET |
(Unaudited) |
June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Assets | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 59,757 | | | $ | (21,512 | ) | | $ | 7,633 | | | $ | — | | | $ | 45,878 | |
|
Restricted cash | | — | | | 15,221 | | | — | | | — | | | 15,221 | |
|
Other current assets | | 11,484 | | | 180,137 | | | 5,873 | | | — | | | 197,494 | |
|
Total current assets | | 71,241 | | | 173,846 | | | 13,506 | | | — | | | 258,593 | |
|
Equity investments | | — | | | — | | | 56,514 | | | — | | | 56,514 | |
|
Oil and natural gas properties (full cost accounting method): | | | | | | | | | | |
Unproved oil and natural gas properties and development costs not being amortized | | — | | | 366,219 | | | 2,781 | | | — | | | 369,000 | |
|
Proved developed and undeveloped oil and natural gas properties | | 332,418 | | | 3,282,905 | | | 121,665 | | | — | | | 3,736,988 | |
|
Accumulated depletion | | (330,571 | ) | | (1,965,093 | ) | | (21,310 | ) | | — | | | (2,316,974 | ) |
|
Oil and natural gas properties, net | | 1,847 | | | 1,684,031 | | | 103,136 | | | — | | | 1,789,014 | |
|
Gathering, office, field and other equipment, net | | 2,410 | | | 27,599 | | | 21,379 | | | — | | | 51,388 | |
|
Investments in and advances to affiliates, net | | 1,774,109 | | | — | | | — | | | (1,774,109 | ) | | — | |
|
Deferred financing costs, net | | 34,103 | | | — | | | 908 | | | — | | | 35,011 | |
|
Derivative financial instruments | | 2,756 | | | — | | | 17 | | | — | | | 2,773 | |
|
Goodwill | | 13,293 | | | 149,862 | | | — | | | — | | | 163,155 | |
|
Other assets | | 3 | | | 27 | | | — | | | — | | | 30 | |
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Total assets | | $ | 1,899,762 | | | $ | 2,035,365 | | | $ | 195,460 | | | $ | (1,774,109 | ) | | $ | 2,356,478 | |
|
Liabilities and shareholders' equity | | | | | | | | | | |
Current liabilities | | $ | 71,629 | | | $ | 315,170 | | | $ | 11,528 | | | $ | — | | | $ | 398,327 | |
|
Long-term debt | | 1,425,855 | | | — | | | 85,792 | | | — | | | 1,511,647 | |
|
Deferred income taxes | | — | | | — | | | — | | | — | | | — | |
|
Other long-term liabilities | | 5,696 | | | 35,221 | | | 9,005 | | | — | | | 49,922 | |
|
Payable to parent | | — | | | 2,076,680 | | | 32,466 | | | (2,109,146 | ) | | — | |
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Total shareholders' equity | | 396,582 | | | (391,706 | ) | | 56,669 | | | 335,037 | | | 396,582 | |
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Total liabilities and shareholders' equity | | $ | 1,899,762 | | | $ | 2,035,365 | | | $ | 195,460 | | | $ | (1,774,109 | ) | | $ | 2,356,478 | |
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EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING BALANCE SHEET |
December 31, 2013 |
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| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Assets | | | | | | | | | | |
Current assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 81,840 | | | $ | (35,892 | ) | | $ | 4,535 | | | $ | — | | | $ | 50,483 | |
|
Restricted cash | | — | | | 20,570 | | | — | | | — | | | 20,570 | |
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Other current assets | | 22,533 | | | 206,708 | | | 5,560 | | | — | | | 234,801 | |
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Total current assets | | 104,373 | | | 191,386 | | | 10,095 | | | — | | | 305,854 | |
|
Equity investments | | — | | | — | | | 57,562 | | | — | | | 57,562 | |
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Oil and natural gas properties (full cost accounting method): | | | | | | | | | | |
Unproved oil and natural gas properties and development costs not being amortized | | 6,758 | | | 415,290 | | | 3,259 | | | — | | | 425,307 | |
|
Proved developed and undeveloped oil and natural gas properties | | 337,972 | | | 3,097,335 | | | 118,903 | | | — | | | 3,554,210 | |
|
Accumulated depletion | | (330,086 | ) | | (1,840,332 | ) | | (13,046 | ) | | — | | | (2,183,464 | ) |
|
Oil and natural gas properties, net | | 14,644 | | | 1,672,293 | | | 109,116 | | | — | | | 1,796,053 | |
|
Gathering, office, field and other equipment, net | | 3,479 | | | 24,612 | | | 22,248 | | | — | | | 50,339 | |
|
Investments in and advances to affiliates, net | | 1,834,197 | | | — | | | — | | | (1,834,197 | ) | | — | |
|
Deferred financing costs, net | | 27,771 | | | — | | | 1,036 | | | — | | | 28,807 | |
|
Derivative financial instruments | | 6,829 | | | — | | | — | | | — | | | 6,829 | |
|
Goodwill | | 13,293 | | | 149,862 | | | — | | | — | | | 163,155 | |
|
Other assets | | 2 | | | 27 | | | — | | | — | | | 29 | |
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Total assets | | $ | 2,004,588 | | | $ | 2,038,180 | | | $ | 200,057 | | | $ | (1,834,197 | ) | | $ | 2,408,628 | |
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Liabilities and shareholders' equity | | | | | | | | | | |
Current liabilities | | $ | 76,174 | | | $ | 264,485 | | | $ | 8,511 | | | $ | — | | | $ | 349,170 | |
|
Long-term debt | | 1,770,427 | | | — | | | 88,485 | | | — | | | 1,858,912 | |
|
Deferred income taxes | | — | | | — | | | — | | | — | | | — | |
|
Other long-term liabilities | | 10,082 | | | 33,831 | | | 8,728 | | | — | | | 52,641 | |
|
Payable to parent | | — | | | 2,230,108 | | | 35,777 | | | (2,265,885 | ) | | — | |
|
Total shareholders' equity | | 147,905 | | | (490,244 | ) | | 58,556 | | | 431,688 | | | 147,905 | |
|
Total liabilities and shareholders' equity | | $ | 2,004,588 | | | $ | 2,038,180 | | | $ | 200,057 | | | $ | (1,834,197 | ) | | $ | 2,408,628 | |
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| | | | | | | | | | |
EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
(Unaudited) |
For the three months ended June 30, 2014 |
|
|
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues: | | | | | | | | | | |
Oil and natural gas | | $ | 306 | | | $ | 169,795 | | | $ | 12,865 | | | $ | — | | | $ | 182,966 | |
|
Costs and expenses: | | | | | | | | | | |
Oil and natural gas production | | 76 | | | 18,196 | | | 4,919 | | | — | | | 23,191 | |
|
Gathering and transportation | | — | | | 24,899 | | | 1,139 | | | — | | | 26,038 | |
|
Depletion, depreciation and amortization | | 727 | | | 61,840 | | | 4,686 | | | — | | | 67,253 | |
|
Accretion of discount on asset retirement obligations | | 4 | | | 522 | | | 169 | | | — | | | 695 | |
|
General and administrative | | 962 | | | 17,949 | | | 593 | | | — | | | 19,504 | |
|
Other operating items | | (12 | ) | | 2,977 | | | 8 | | | — | | | 2,973 | |
|
Total costs and expenses | | 1,757 | | | 126,383 | | | 11,514 | | | — | | | 139,654 | |
|
Operating income (loss) | | (1,451 | ) | | 43,412 | | | 1,351 | | | — | | | 43,312 | |
|
Other income (expense): | | | | | | | | | | |
Interest expense, net | | (25,301 | ) | | — | | | (667 | ) | | — | | | (25,968 | ) |
|
Loss on derivative financial instruments | | (13,958 | ) | | — | | | (760 | ) | | — | | | (14,718 | ) |
|
Other income | | 59 | | | 14 | | | 4 | | | — | | | 77 | |
|
Equity loss | | — | | | — | | | (410 | ) | | — | | | (410 | ) |
|
Net income from consolidated subsidiaries | | 42,944 | | | — | | | — | | | (42,944 | ) | | — | |
|
Total other income (expense) | | 3,744 | | | 14 | | | (1,833 | ) | | (42,944 | ) | | (41,019 | ) |
|
Income (loss) before income taxes | | 2,293 | | | 43,426 | | | (482 | ) | | (42,944 | ) | | 2,293 | |
|
Income tax expense | | — | | | — | | | — | | | — | | | — | |
|
Net income (loss) | | $ | 2,293 | | | $ | 43,426 | | | $ | (482 | ) | | $ | (42,944 | ) | | $ | 2,293 | |
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EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
(Unaudited) |
For the three months ended June 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues: | | | | | | | | | | |
Oil and natural gas | | $ | 74 | | | $ | 137,318 | | | $ | 12,940 | | | $ | — | | | $ | 150,332 | |
|
Costs and expenses: | | | | | | | | | | |
Oil and natural gas production | | 71 | | | 10,559 | | | 5,253 | | | — | | | 15,883 | |
|
Gathering and transportation | | — | | | 22,500 | | | 908 | | | — | | | 23,408 | |
|
Depletion, depreciation and amortization | | 1,192 | | | 42,761 | | | 3,435 | | | — | | | 47,388 | |
|
Accretion of discount on asset retirement obligations | | 4 | | | 396 | | | 156 | | | — | | | 556 | |
|
General and administrative | | 9,640 | | | 16,421 | | | 513 | | | — | | | 26,574 | |
|
Other operating items | | 745 | | | 1,904 | | | (9 | ) | | — | | | 2,640 | |
|
Total costs and expenses | | 11,652 | | | 94,541 | | | 10,256 | | | — | | | 116,449 | |
|
Operating income (loss) | | (11,578 | ) | | 42,777 | | | 2,684 | | | — | | | 33,883 | |
|
Other income (expense): | | | | | | | | | | |
Interest expense, net | | (14,298 | ) | | — | | | (807 | ) | | — | | | (15,105 | ) |
|
Gain on derivative financial instruments | | 51,495 | | | 455 | | | 3,296 | | | — | | | 55,246 | |
|
Other income | | 82 | | | 76 | | | — | | | — | | | 158 | |
|
Equity income | | — | | | — | | | 11,416 | | | — | | | 11,416 | |
|
Net income from consolidated subsidiaries | | 59,897 | | | — | | | — | | | (59,897 | ) | | — | |
|
Total other income | | 97,176 | | | 531 | | | 13,905 | | | (59,897 | ) | | 51,715 | |
|
Income before income taxes | | 85,598 | | | 43,308 | | | 16,589 | | | (59,897 | ) | | 85,598 | |
|
Income tax expense | | — | | | — | | | — | | | — | | | — | |
|
Net income | | $ | 85,598 | | | $ | 43,308 | | | $ | 16,589 | | | $ | (59,897 | ) | | $ | 85,598 | |
|
EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
(Unaudited) |
For the six months ended June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues: | | | | | | | | | | |
Oil and natural gas | | $ | 3,296 | | | $ | 351,856 | | | $ | 26,286 | | | $ | — | | | $ | 381,438 | |
|
Costs and expenses: | | | | | | | | | | |
Oil and natural gas production | | 375 | | | 39,617 | | | 9,595 | | | — | | | 49,587 | |
|
Gathering and transportation | | — | | | 48,348 | | | 2,303 | | | — | | | 50,651 | |
|
Depletion, depreciation and amortization | | 1,884 | | | 125,507 | | | 9,137 | | | — | | | 136,528 | |
|
Accretion of discount on asset retirement obligations | | 9 | | | 1,032 | | | 335 | | | — | | | 1,376 | |
|
General and administrative | | 727 | | | 34,795 | | | 1,320 | | | — | | | 36,842 | |
|
Other operating items | | (16 | ) | | 5,731 | | | 4 | | | — | | | 5,719 | |
|
Total costs and expenses | | 2,979 | | | 255,030 | | | 22,694 | | | — | | | 280,703 | |
|
Operating income | | 317 | | | 96,826 | | | 3,592 | | | — | | | 100,735 | |
|
Other income (expense): | | | | | | | | | | |
Interest expense, net | | (44,796 | ) | | — | | | (1,336 | ) | | — | | | (46,132 | ) |
|
Loss on derivative financial instruments | | (54,637 | ) | | — | | | (3,103 | ) | | — | | | (57,740 | ) |
|
Other income (loss) | | 152 | | | (37 | ) | | 8 | | | — | | | 123 | |
|
Equity income | | — | | | — | | | 701 | | | — | | | 701 | |
|
Net income from consolidated subsidiaries | | 96,651 | | | — | | | — | | | (96,651 | ) | | — | |
|
Total other expense | | (2,630 | ) | | (37 | ) | | (3,730 | ) | | (96,651 | ) | | (103,048 | ) |
Income (loss) before income taxes | | (2,313 | ) | | 96,789 | | | (138 | ) | | (96,651 | ) | | (2,313 | ) |
|
Income tax expense | | — | | | — | | | — | | | — | | | — | |
|
Net income (loss) | | $ | (2,313 | ) | | $ | 96,789 | | | $ | (138 | ) | | $ | (96,651 | ) | | $ | (2,313 | ) |
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EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
(Unaudited) |
For the six months ended June 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues: | | | | | | | | | | |
Oil and natural gas | | $ | 8,120 | | | $ | 261,792 | | | $ | 18,643 | | | $ | — | | | $ | 288,555 | |
|
Costs and expenses: | | | | | | | | | | |
Oil and natural gas production | | 2,283 | | | 24,664 | | | 7,801 | | | — | | | 34,748 | |
|
Gathering and transportation | | — | | | 46,507 | | | 1,377 | | | — | | | 47,884 | |
|
Depletion, depreciation and amortization | | 3,799 | | | 80,289 | | | 4,608 | | | — | | | 88,696 | |
|
Impairment of oil and natural gas properties | | — | | | 10,707 | | | — | | | — | | | 10,707 | |
|
Accretion of discount on asset retirement obligations | | 54 | | | 945 | | | 247 | | | — | | | 1,246 | |
|
General and administrative | | 10,293 | | | 33,384 | | | 881 | | | — | | | 44,558 | |
|
Gain on divestitures and other operating items | | (25,229 | ) | | (157,000 | ) | | (13 | ) | | — | | | (182,242 | ) |
|
Total costs and expenses | | (8,800 | ) | | 39,496 | | | 14,901 | | | — | | | 45,597 | |
|
Operating income | | 16,920 | | | 222,296 | | | 3,742 | | | — | | | 242,958 | |
|
Other income (expense): | | | | | | | | | | |
Interest expense, net | | (34,175 | ) | | — | | | (1,122 | ) | | — | | | (35,297 | ) |
|
Gain (loss) on derivative financial instruments | | 11,693 | | | (235 | ) | | 274 | | | — | | | 11,732 | |
|
Other income | | 129 | | | 115 | | | 2 | | | — | | | 246 | |
|
Equity income | | — | | | — | | | 24,079 | | | — | | | 24,079 | |
|
Net earnings from consolidated subsidiaries | | 249,151 | | | — | | | — | | | (249,151 | ) | | — | |
|
Total other income (expense) | | 226,798 | | | (120 | ) | | 23,233 | | | (249,151 | ) | | 760 | |
|
Income before income taxes | | 243,718 | | | 222,176 | | | 26,975 | | | (249,151 | ) | | 243,718 | |
|
Income tax expense | | — | | | — | | | — | | | — | | | — | |
|
Net income | | $ | 243,718 | | | $ | 222,176 | | | $ | 26,975 | | | $ | (249,151 | ) | | $ | 243,718 | |
|
EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
(Unaudited) |
For the six months ended June 30, 2014 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Operating Activities: | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | (54,003 | ) | | $ | 310,651 | | | $ | 11,474 | | | $ | — | | | $ | 268,122 | |
|
Investing Activities: | | | | | | | | | | |
Additions to oil and natural gas properties, gathering assets and equipment and property acquisitions | | (1,639 | ) | | (193,606 | ) | | (2,522 | ) | | — | | | (197,767 | ) |
|
Proceeds from disposition of property and equipment | | 68,242 | | | 8,017 | | | 7 | | | — | | | 76,266 | |
|
Restricted cash | | — | | | 5,349 | | | — | | | — | | | 5,349 | |
|
Net changes in advances to joint ventures | | — | | | (10,540 | ) | | — | | | — | | | (10,540 | ) |
|
Equity method investments | | — | | | 1,749 | | | — | | | — | | | 1,749 | |
|
Distributions received from Compass | | 3,311 | | | — | | | — | | | (3,311 | ) | | — | |
|
Advances/investments with affiliates | | 107,240 | | | (107,240 | ) | | — | | | — | | | — | |
|
Net cash provided by (used in) investing activities | | 177,154 | | | (296,271 | ) | | (2,515 | ) | | (3,311 | ) | | (124,943 | ) |
|
Financing Activities: | | | | | | | | | | |
Repayments under credit agreements | | (879,874 | ) | | — | | | (2,550 | ) | | — | | | (882,424 | ) |
|
Proceeds received from 2022 Notes | | 500,000 | | | — | | | — | | | — | | | 500,000 | |
|
Proceeds from issuance of common stock, net | | 271,772 | | | — | | | — | | | — | | | 271,772 | |
|
Payment of common stock dividends | | (27,066 | ) | | — | | | — | | | — | | | (27,066 | ) |
|
Compass cash distribution | | — | | | — | | | (3,311 | ) | | 3,311 | | | — | |
|
Deferred financing costs and other | | (10,066 | ) | | — | | | — | | | — | | | (10,066 | ) |
|
Net cash provided by (used in) financing activities | | (145,234 | ) | | — | | | (5,861 | ) | | 3,311 | | | (147,784 | ) |
|
Net increase (decrease) in cash | | (22,083 | ) | | 14,380 | | | 3,098 | | | — | | | (4,605 | ) |
|
Cash at beginning of period | | 81,840 | | | (35,892 | ) | | 4,535 | | | — | | | 50,483 | |
|
Cash at end of period | | $ | 59,757 | | | $ | (21,512 | ) | | $ | 7,633 | | | $ | — | | | $ | 45,878 | |
|
EXCO RESOURCES, INC. |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
(Unaudited) |
For the six months ended June 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | |
(in thousands) | | Resources | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Operating Activities: | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | (3,892 | ) | | $ | 168,302 | | | $ | 6,822 | | | $ | — | | | $ | 171,232 | |
|
Investing Activities: | | | | | | | | | | |
Additions to oil and natural gas properties, gathering assets and equipment and property acquisitions | | (8,907 | ) | | (120,434 | ) | | (36,412 | ) | | — | | | (165,753 | ) |
|
Restricted cash | | — | | | 27,543 | | | — | | | — | | | 27,543 | |
|
Equity method investments | | — | | | (104 | ) | | — | | | — | | | (104 | ) |
|
Proceeds from disposition of property and equipment | | 244,499 | | | 368,591 | | | — | | | — | | | 613,090 | |
|
Distributions received from Compass | | 1,275 | | | — | | | — | | | (1,275 | ) | | — | |
|
Net changes in advances to joint ventures | | — | | | 8,276 | | | — | | | — | | | 8,276 | |
|
Advances/investments with affiliates | | 462,020 | | | (462,020 | ) | | — | | | — | | | — | |
|
Net cash provided by (used in) investing activities | | 698,887 | | | (178,148 | ) | | (36,412 | ) | | (1,275 | ) | | 483,052 | |
|
Financing Activities: | | | | | | | | | | |
Borrowings under credit agreements | | 10,000 | | | — | | | 36,757 | | | — | | | 46,757 | |
|
Repayments under credit agreements | | (643,266 | ) | | — | | | (1,275 | ) | | — | | | (644,541 | ) |
|
Proceeds from issuance of common stock | | 42 | | | — | | | — | | | — | | | 42 | |
|
Payment of common stock dividends | | (21,479 | ) | | — | | | — | | | — | | | (21,479 | ) |
|
Compass cash distribution | | — | | | — | | | (1,275 | ) | | 1,275 | | | — | |
|
Deferred financing costs and other | | (32 | ) | | — | | | (233 | ) | | — | | | (265 | ) |
|
Net cash provided by (used in) financing activities | | (654,735 | ) | | — | | | 33,974 | | | 1,275 | | | (619,486 | ) |
|
Net increase (decrease) in cash | | 40,260 | | | (9,846 | ) | | 4,384 | | | — | | | 34,798 | |
|
Cash at beginning of period | | 65,791 | | | (20,147 | ) | | — | | | — | | | 45,644 | |
|
Cash at end of period | | $ | 106,051 | | | $ | (29,993 | ) | | $ | 4,384 | | | $ | — | | | $ | 80,442 | |
|
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