Schedule of Condensed Financial Statements | 9 Months Ended |
Sep. 30, 2013 |
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' |
Schedule of Condensed Financial Statements | ' |
-7 | The Company’s 8% Senior Notes are fully and unconditionally guaranteed by each of the Company’s 100%-owned subsidiaries as of the date of issuance. Accordingly, the following condensed consolidating financial statements present the consolidated balance sheets, consolidated statements of operations and comprehensive income (loss) and consolidated statements of cash flows of Belo as parent, the guarantor subsidiaries consisting of Belo’s 100%-owned subsidiaries as of the date of issuance, non-guarantor subsidiaries consisting of subsidiaries subsequent to the date of issuance, and eliminations necessary to arrive at the Company’s information on a consolidated basis. These statements are presented in accordance with the disclosure requirements under Securities and Exchange Commission Regulation S-X, Rule 3-10. | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Statement of Earnings |
For the Three Months Ended September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net Operating Revenues | | $ | — | | | $ | 166,135 | | | $ | 57 | | | $ | — | | | $ | 166,192 | |
| | | | | |
Operating Costs and Expenses | | | | | | | | | | | | | | | | | | | | |
Station salaries, wages and employee benefits | | | — | | | | 54,830 | | | | 254 | | | | — | | | | 55,084 | |
Station programming and other operating costs | | | — | | | | 50,594 | | | | 101 | | | | — | | | | 50,695 | |
Corporate operating costs | | | 9,654 | | | | 843 | | | | 423 | | | | — | | | | 10,920 | |
Depreciation | | | 257 | | | | 6,651 | | | | 221 | | | | — | | | | 7,129 | |
| | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 9,911 | | | | 112,918 | | | | 999 | | | | — | | | | 123,828 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) from operations | | | (9,911 | ) | | | 53,217 | | | | (942 | ) | | | — | | | | 42,364 | |
| | | | | | | | | | | | | | | | | | | | |
Other Income and (Expense) | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | (14,525 | ) | | | (13 | ) | | | — | | | | — | | | | (14,538 | ) |
Intercompany interest | | | 507 | | | | (507 | ) | | | — | | | | — | | | | — | |
Other income (expense), net | | | (121 | ) | | | 1,110 | | | | — | | | | — | | | | 989 | |
| | | | | | | | | | | | | | | | | | | | |
Total other income and (expense) | | | (14,139 | ) | | | 590 | | | | — | | | | — | | | | (13,549 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) before income taxes | | | (24,050 | ) | | | 53,807 | | | | (942 | ) | | | — | | | | 28,815 | |
| | | | | | | | | | | | | | | | | | | | |
Income tax benefit (expense) | | | 8,307 | | | | (18,344 | ) | | | 317 | | | | — | | | | (9,720 | ) |
Equity in earnings (loss) of subsidiaries | | | 34,838 | | | | — | | | | — | | | | (34,838 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) | | $ | 19,095 | | | $ | 35,463 | | | $ | (625 | ) | | $ | (34,838 | ) | | $ | 19,095 | |
Less: Net (loss) from non-controlling interests | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) attributable To Belo Corp. | | $ | 19,095 | | | $ | 35,463 | | | $ | (625 | ) | | $ | (34,838 | ) | | $ | 19,095 | |
| | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income |
For the Three Months Ended September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net earnings (loss) | | $ | 19,095 | | | $ | 35,463 | | | $ | (625 | ) | | $ | (34,838 | ) | | $ | 19,095 | |
Amortization of net actuarial loss, net of tax | | | 771 | | | | — | | | | — | | | | — | | | | 771 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | | 19,866 | | | | 35,463 | | | | (625 | ) | | | (34,838 | ) | | | 19,866 | |
Less: comprehensive (loss) attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Belo Corp. | | $ | 19,866 | | | $ | 35,463 | | | $ | (625 | ) | | $ | (34,838 | ) | | $ | 19,866 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Statement of Earnings |
For the Three Months Ended September 30, 2012 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net Operating Revenues | | $ | — | | | $ | 176,273 | | | $ | — | | | $ | — | | | $ | 176,273 | |
| | | | | |
Operating Costs and Expenses | | | | | | | | | | | | | | | | | | | | |
Station salaries, wages and employee benefits | | | — | | | | 54,755 | | | | 21 | | | | — | | | | 54,776 | |
Station programming and other operating costs | | | — | | | | 50,049 | | | | 471 | | | | — | | | | 50,520 | |
Corporate operating costs | | | 5,906 | | | | 1,204 | | | | 391 | | | | — | | | | 7,501 | |
Depreciation | | | 319 | | | | 6,998 | | | | 211 | | | | — | | | | 7,528 | |
| | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 6,225 | | | | 113,006 | | | | 1,094 | | | | — | | | | 120,325 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) from operations | | | (6,225 | ) | | | 63,267 | | | | (1,094 | ) | | | — | | | | 55,948 | |
| | | | | | | | | | | | | | | | | | | | |
Other Income and (Expense) | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | (17,677 | ) | | | (6 | ) | | | — | | | | — | | | | (17,683 | ) |
Intercompany interest | | | 752 | | | | (752 | ) | | | — | | | | — | | | | — | |
Other income (expense), net | | | (60 | ) | | | 557 | | | | — | | | | — | | | | 497 | |
| | | | | | | | | | | | | | | | | | | | |
Total other income and (expense) | | | (16,985 | ) | | | (201 | ) | | | — | | | | — | | | | (17,186 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) before income taxes | | | (23,210 | ) | | | 63,066 | | | | (1,094 | ) | | | — | | | | 38,762 | |
| | | | | | | | | | | | | | | | | | | | |
Income tax benefit (expense) | | | 8,743 | | | | (23,290 | ) | | | 399 | | | | — | | | | (14,148 | ) |
Equity in earnings (loss) of subsidiaries | | | 39,284 | | | | — | | | | — | | | | (39,284 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) | | | 24,817 | | | | 39,776 | | | | (695 | ) | | | (39,284 | ) | | | 24,614 | |
Less: Net (loss) from noncontrolling interests | | | — | | | | — | | | | (203 | ) | | | — | | | | (203 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) attributable to Belo Corp. | | $ | 24,817 | | | $ | 39,776 | | | $ | (492 | ) | | $ | (39,284 | ) | | $ | 24,817 | |
| | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income |
For the Three Months Ended September 30, 2012 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net earnings (loss) | | $ | 24,817 | | | $ | 39,776 | | | $ | (695 | ) | | $ | (39,284 | ) | | $ | 24,614 | |
Amortization of net actuarial loss, net of tax | | | 624 | | | | — | | | | — | | | | — | | | | 624 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | | 25,441 | | | | 39,776 | | | | (695 | ) | | | (39,284 | ) | | | 25,238 | |
Less: comprehensive (loss) attributable to noncontrolling interests | | | — | | | | — | | | | (203 | ) | | | — | | | | (203 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Belo Corp. | | $ | 25,441 | | | $ | 39,776 | | | $ | (492 | ) | | $ | (39,284 | ) | | $ | 25,441 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Statement of Earnings |
For the Nine Months Ended September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net Operating Revenues | | $ | — | | | $ | 499,980 | | | $ | 57 | | | $ | — | | | $ | 500,037 | |
| | | | | |
Operating Costs and Expenses | | | | | | | | | | | | | | | | | | | | |
Station salaries, wages and employee benefits | | | — | | | | 166,358 | | | | 804 | | | | — | | | | 167,162 | |
Station programming and other operating costs | | | — | | | | 147,210 | | | | 405 | | | | — | | | | 147,615 | |
Corporate operating costs | | | 28,140 | | | | 3,119 | | | | 1,218 | | | | — | | | | 32,477 | |
Depreciation | | | 949 | | | | 19,631 | | | | 652 | | | | — | | | | 21,232 | |
| | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 29,089 | | | | 336,318 | | | | 3,079 | | | | — | | | | 368,486 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) from operations | | | (29,089 | ) | | | 163,662 | | | | (3,022 | ) | | | — | | | | 131,551 | |
| | | | | | | | | | | | | | | | | | | | |
Other Income and (Expense) | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | (43,686 | ) | | | (29 | ) | | | — | | | | — | | | | (43,715 | ) |
Intercompany interest | | | 1,988 | | | | (1,988 | ) | | | — | | | | — | | | | — | |
Other income (expense), net | | | (1,140 | ) | | | 2,840 | | | | 18 | | | | — | | | | 1,718 | |
| | | | | | | | | | | | | | | | | | | | |
Total other income and (expense) | | | (42,838 | ) | | | 823 | | | | 18 | | | | — | | | | (41,997 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) before income taxes | | | (71,927 | ) | | | 164,485 | | | | (3,004 | ) | | | — | | | | 89,554 | |
| | | | | | | | | | | | | | | | | | | | |
Income tax benefit (expense) | | | 26,346 | | | | (59,337 | ) | | | 1,071 | | | | — | | | | (31,920 | ) |
Equity in earnings (loss) of subsidiaries | | | 103,215 | | | | — | | | | — | | | | (103,215 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) | | $ | 57,634 | | | $ | 105,148 | | | $ | (1,933 | ) | | $ | (103,215 | ) | | $ | 57,634 | |
Less: Net (loss) from noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) attributable To Belo Corp. | | $ | 57,634 | | | $ | 105,148 | | | $ | (1,933 | ) | | $ | (103,215 | ) | | $ | 57,634 | |
| | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income |
For the Nine Months Ended September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net earnings (loss) | | $ | 57,634 | | | $ | 105,148 | | | $ | (1,933 | ) | | $ | (103,215 | ) | | $ | 57,634 | |
Amortization of net actuarial loss, net of tax | | | 2,313 | | | | — | | | | — | | | | — | | | | 2,313 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | | 59,947 | | | | 105,148 | | | | (1,933 | ) | | | (103,215 | ) | | | 59,947 | |
Less: comprehensive (loss) attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Belo Corp. | | $ | 59,947 | | | $ | 105,148 | | | $ | (1,933 | ) | | $ | (103,215 | ) | | $ | 59,947 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Statement of Earnings |
For the Nine Months Ended September 30, 2012 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net Operating Revenues | | $ | — | | | $ | 509,790 | | | $ | — | | | $ | — | | | $ | 509,790 | |
| | | | | |
Operating Costs and Expenses | | | | | | | | | | | | | | | | | | | | |
Station salaries, wages and employee benefits | | | — | | | | 166,891 | | | | 21 | | | | — | | | | 166,912 | |
Station programming and other operating costs | | | — | | | | 143,240 | | | | 671 | | | | — | | | | 143,911 | |
Corporate operating costs | | | 19,366 | | | | 3,050 | | | | 1,367 | | | | — | | | | 23,783 | |
Depreciation | | | 909 | | | | 20,921 | | | | 632 | | | | — | | | | 22,462 | |
| | | | | | | | | | | | | | | | | | | | |
Total operating costs and expenses | | | 20,275 | | | | 334,102 | | | | 2,691 | | | | — | | | | 357,068 | |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) from operations | | | (20,275 | ) | | | 175,688 | | | | (2,691 | ) | | | — | | | | 152,722 | |
| | | | | | | | | | | | | | | | | | | | |
Other Income and (Expense) | | | | | | | | | | | | | | | | | | | | |
Interest expense | | | (53,030 | ) | | | (29 | ) | | | — | | | | — | | | | (53,059 | ) |
Intercompany interest | | | 2,241 | | | | (2,241 | ) | | | — | | | | — | | | | — | |
Other income, net | | | 2 | | | | 2,374 | | | | — | | | | — | | | | 2,376 | |
| | | | | | | | | | | | | | | | | | | | |
Total other income and (expense) | | | (50,787 | ) | | | 104 | | | | — | | | | — | | | | (50,683 | ) |
| | | | | | | | | | | | | | | | | | | | |
Earnings (loss) before income taxes | | | (71,062 | ) | | | 175,792 | | | | (2,691 | ) | | | — | | | | 102,039 | |
| | | | | | | | | | | | | | | | | | | | |
Income tax benefit (expense) | | | 26,796 | | | | (65,080 | ) | | | 984 | | | | — | | | | (37,300 | ) |
Equity in earnings (loss) of subsidiaries | | | 109,306 | | | | — | | | | — | | | | (109,306 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) | | | 65,040 | | | | 110,712 | | | | (1,707 | ) | | | (109,306 | ) | | | 64,739 | |
Less: Net loss from noncontrolling interests | | | — | | | | — | | | | (301 | ) | | | — | | | | (301 | ) |
| | | | | | | | | | | | | | | | | | | | |
Net earnings (loss) attributable to Belo Corp. | | $ | 65,040 | | | $ | 110,712 | | | $ | (1,406 | ) | | $ | (109,306 | ) | | $ | 65,040 | |
| | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Comprehensive Income |
For the Nine Months Ended September 30, 2012 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Net earnings (loss) | | $ | 65,040 | | | $ | 110,712 | | | $ | (1,707 | ) | | $ | (109,306 | ) | | $ | 64,739 | |
Amortization of net actuarial loss, net of tax | | | 1,872 | | | | — | | | | — | | | | — | | | | 1,872 | |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) | | | 66,912 | | | | 110,712 | | | | (1,707 | ) | | | (109,306 | ) | | | 66,611 | |
Less: comprehensive (loss) attributable to noncontrolling interests | | | — | | | | — | | | | (301 | ) | | | — | | | | (301 | ) |
| | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to Belo Corp. | | $ | 66,912 | | | $ | 110,712 | | | $ | (1,406 | ) | | $ | (109,306 | ) | | $ | 66,912 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Balance Sheet |
As of September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Assets | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and temporary cash investments | | $ | 24,923 | | | $ | 3,273 | | | $ | — | | | $ | — | | | $ | 28,196 | |
Accounts receivable, net | | | 57 | | | | 137,071 | | | | 38 | | | | — | | | | 137,166 | |
Other current assets | | | 4,697 | | | | 10,752 | | | | 27 | | | | — | | | | 15,476 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 29,677 | | | | 151,096 | | | | 65 | | | | — | | | | 180,838 | |
| | | | | | | | | | | | | | | | | | | | |
Property, plant and equipment, net | | | 2,398 | | | | 130,105 | | | | 13,811 | | | | — | | | | 146,314 | |
Intangible assets, net | | | — | | | | 725,399 | | | | — | | | | — | | | | 725,399 | |
Goodwill | | | — | | | | 423,873 | | | | — | | | | — | | | | 423,873 | |
Deferred income taxes | | | 36,536 | | | | — | | | | — | | | | (36,536 | ) | | | — | |
Intercompany receivable | | | 524,035 | | | | — | | | | — | | | | (524,035 | ) | | | — | |
Investment in subsidiaries | | | 586,396 | | | | — | | | | — | | | | (586,396 | ) | | | — | |
Other assets | | | 16,101 | | | | 20,540 | | | | 41 | | | | — | | | | 36,682 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 1,195,143 | | | $ | 1,451,013 | | | $ | 13,917 | | | $ | (1,146,967 | ) | | $ | 1,513,106 | |
| | | | | | | | | | | | | | | | | | | | |
Liabilities and Shareholders’ Equity | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | 7,522 | | | $ | 8,485 | | | $ | 92 | | | $ | — | | | $ | 16,099 | |
Accrued expenses | | | 17,042 | | | | 31,563 | | | | 315 | | | | — | | | | 48,920 | |
Short-term pension obligation | | | 8,200 | | | | — | | | | — | | | | — | | | | 8,200 | |
Income taxes payable | | | 3,607 | | | | — | | | | — | | | | — | | | | 3,607 | |
Deferred revenue | | | — | | | | 3,874 | | | | — | | | | — | | | | 3,874 | |
Dividends payable | | | 8,390 | | | | — | | | | — | | | | — | | | | 8,390 | |
Accrued interest payable | | | 14,142 | | | | — | | | | — | | | | — | | | | 14,142 | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 58,903 | | | | 43,922 | | | | 407 | | | | — | | | | 103,232 | |
| | | | | | | | | | | | | | | | | | | | |
Long-term debt | | | 712,599 | | | | — | | | | — | | | | — | | | | 712,599 | |
Deferred income taxes | | | — | | | | 302,959 | | | | 515 | | | | (36,536 | ) | | | 266,938 | |
Pension obligation | | | 75,659 | | | | — | | | | — | | | | — | | | | 75,659 | |
Intercompany payable | | | — | | | | 518,192 | | | | 5,843 | | | | (524,035 | ) | | | — | |
Other liabilities | | | 5,029 | | | | 6,696 | | | | — | | | | — | | | | 11,725 | |
Total shareholders’ equity | | | 342,953 | | | | 579,244 | | | | 7,152 | | | | (586,396 | ) | | | 342,953 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and shareholders’ equity | | $ | 1,195,143 | | | $ | 1,451,013 | | | $ | 13,917 | | | $ | (1,146,967 | ) | | $ | 1,513,106 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Balance Sheet |
As of December 31, 2012 |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Eliminations | | | Total | |
Guarantors |
Assets | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | |
Cash and temporary cash investments | | $ | 6,833 | | | $ | 2,500 | | | $ | 104 | | | $ | — | | | $ | 9,437 | |
Accounts receivable, net | | | 487 | | | | 140,107 | | | | 11 | | | | — | | | | 140,605 | |
Other current assets | | | 4,017 | | | | 13,674 | | | | 66 | | | | — | | | | 17,757 | |
| | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 11,337 | | | | 156,281 | | | | 181 | | | | — | | | | 167,799 | |
| | | | | | | | | | | | | | | | | | | | |
Property, plant and equipment, net | | | 2,865 | | | | 129,262 | | | | 14,395 | | | | — | | | | 146,522 | |
Intangible assets, net | | | — | | | | 725,399 | | | | — | | | | — | | | | 725,399 | |
Goodwill | | | — | | | | 423,873 | | | | — | | | | — | | | | 423,873 | |
Deferred income taxes | | | 42,528 | | | | — | | | | — | | | | (42,528 | ) | | | — | |
Intercompany receivable | | | 636,455 | | | | — | | | | — | | | | (636,455 | ) | | | — | |
Investment in subsidiaries | | | 483,181 | | | | — | | | | — | | | | (483,181 | ) | | | — | |
Other assets | | | 18,297 | | | | 17,635 | | | | 67 | | | | — | | | | 35,999 | |
| | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 1,194,663 | | | $ | 1,452,450 | | | $ | 14,643 | | | $ | (1,162,164 | ) | | $ | 1,499,592 | |
| | | | | | | | | | | | | | | | | | | | |
Liabilities and Shareholders’ Equity | | | | | | | | | | | | | | | | | | | | |
| | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | 8,154 | | | $ | 11,812 | | | $ | 382 | | | $ | — | | | $ | 20,348 | |
Accrued expenses | | | 16,202 | | | | 25,432 | | | | 423 | | | | — | | | | 42,057 | |
Short-term pension obligation | | | 20,000 | | | | — | | | | — | | | | — | | | | 20,000 | |
Income taxes payable | | | 9,043 | | | | — | | | | — | | | | — | | | | 9,043 | |
Deferred revenue | | | — | | | | 2,911 | | | | — | | | | — | | | | 2,911 | |
Dividends payable | | | 8,331 | | | | — | | | | — | | | | — | | | | 8,331 | |
Accrued interest payable | | | 9,123 | | | | — | | | | — | | | | — | | | | 9,123 | |
| | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 70,853 | | | | 40,155 | | | | 805 | | | | — | | | | 111,813 | |
| | | | | | | | | | | | | | | | | | | | |
Long-term debt | | | 733,025 | | | | — | | | | — | | | | — | | | | 733,025 | |
Deferred income taxes | | | — | | | | 299,552 | | | | 840 | | | | (42,528 | ) | | | 257,864 | |
Pension obligation | | | 86,590 | | | | — | | | | — | | | | — | | | | 86,590 | |
Intercompany payable | | | — | | | | 632,543 | | | | 3,912 | | | | (636,455 | ) | | | — | |
Other liabilities | | | 4,471 | | | | 6,105 | | | | — | | | | — | | | | 10,576 | |
Total shareholders’ equity | | | 299,724 | | | | 474,095 | | | | 9,086 | | | | (483,181 | ) | | | 299,724 | |
| | | | | | | | | | | | | | | | | | | | |
Total liabilities and shareholders’ equity | | $ | 1,194,663 | | | $ | 1,452,450 | | | $ | 14,643 | | | $ | (1,162,164 | ) | | $ | 1,499,592 | |
| | | | | | | | | | | | | | | | | | | | |
|
Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2013 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Total | | | | | |
Guarantors | | | | |
Operations | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) operations | | $ | (42,226 | ) | | $ | 125,730 | | | $ | (1,968 | ) | | $ | 81,536 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Investments | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | (474 | ) | | | (20,035 | ) | | | (69 | ) | | | (20,578 | ) | | | | |
Other investments, net | | | (141 | ) | | | 226 | | | | — | | | | 85 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash used for investments | | | (615 | ) | | | (19,809 | ) | | | (69 | ) | | | (20,493 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Financing | | | | | | | | | | | | | | | | | | | | |
Net proceeds from revolving debt | | | 73,400 | | | | — | | | | — | | | | 73,400 | | | | | |
Payments on revolving debt | | | (94,400 | ) | | | — | | | | — | | | | (94,400 | ) | | | | |
Dividends paid on common stock | | | (25,096 | ) | | | — | | | | — | | | | (25,096 | ) | | | | |
Net proceeds from exercise of stock options | | | 3,096 | | | | — | | | | — | | | | 3,096 | | | | | |
Excess tax benefit from option exercises | | | 716 | | | | — | | | | — | | | | 716 | | | | | |
Intercompany activity | | | 103,215 | | | | (105,148 | ) | | | 1,933 | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) financing activities | | | 60,931 | | | | (105,148 | ) | | | 1,933 | | | | (42,284 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net increase (decrease) in cash and temporary cash investments | | | 18,090 | | | | 773 | | | | (104 | ) | | | 18,759 | | | | | |
Cash and temporary cash investments at beginning of period | | | 6,833 | | | | 2,500 | | | | 104 | | | | 9,437 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Cash and temporary cash investments at end of period | | $ | 24,923 | | | $ | 3,273 | | | $ | — | | | $ | 28,196 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2012 |
(unaudited) |
|
| | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Guarantors | | | Non- | | | Total | | | | | |
Guarantors | | | | |
Operations | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) operations | | $ | 26,643 | | | $ | 123,054 | | | $ | (1,131 | ) | | $ | 148,566 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Investments | | | | | | | | | | | | | | | | | | | | |
Capital expenditures | | | (4,721 | ) | | | (10,598 | ) | | | (164 | ) | | | (15,483 | ) | | | | |
Other investments, net | | | (795 | ) | | | — | | | | — | | | | (795 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash used for investments | | | (5,516 | ) | | | (10,598 | ) | | | (164 | ) | | | (16,278 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Financing | | | | | | | | | | | | | | | | | | | | |
Dividends paid | | | (21,780 | ) | | | — | | | | — | | | | (21,780 | ) | | | | |
Common stock repurchased | | | (5,964 | ) | | | — | | | | — | | | | (5,964 | ) | | | | |
Net proceeds from exercise of stock options | | | 124 | | | | — | | | | — | | | | 124 | | | | | |
Excess tax benefit from option exercises | | | 117 | | | | — | | | | — | | | | 117 | | | | | |
Intercompany activity | | | 109,306 | | | | (110,712 | ) | | | 1,406 | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) financing activities | | | 81,803 | | | | (110,712 | ) | | | 1,406 | | | | (27,503 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net increase in cash and temporary cash investments | | | 102,930 | | | | 1,744 | | | | 111 | | | | 104,785 | | | | | |
Cash and temporary cash investments at beginning of period | | | 59,339 | | | | 1,755 | | | | 24 | | | | 61,118 | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Cash and temporary cash investments at end of period | | $ | 162,269 | | | $ | 3,499 | | | $ | 135 | | | $ | 165,903 | | | | | |