Consolidating Financial Information of Guarantors and Issuers | 9 Months Ended |
Sep. 29, 2013 |
Condensed Consolidated Financial Information [Abstract] | ' |
Consolidating Financial Information of Guarantors and Issuers | ' |
Consolidating Financial Information of Guarantors and Issuers: |
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Cedar Fair, L.P., Canada's Wonderland Company ("Cedar Canada"), and Magnum Management Corporation ("Magnum") are the co-issuers of the Partnership's 9.125% notes and the 5.25% notes (see Note 5). The notes have been fully and unconditionally guaranteed, on a joint and several basis, by each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum) that guarantees the Partnership's senior secured credit facilities. There are no non-guarantor subsidiaries. |
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The following consolidating schedules present condensed financial information for Cedar Fair, L.P., Cedar Canada, and Magnum, the co-issuers, and each 100% owned subsidiary of Cedar Fair (other than Cedar Canada and Magnum), the guarantors (on a combined basis), as of September 29, 2013, December 31, 2012, and September 30, 2012 and for the three, nine and twelve month periods ended September 29, 2013 and September 30, 2012. In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, the Partnership has included the accompanying condensed consolidating financial statements. |
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Since Cedar Fair, L.P., Cedar Canada and Magnum are co-issuers of the notes and co-borrowers under the 2013 Credit Agreement, all outstanding debt has been equally reflected within each co-issuer's September 29, 2013, December 31, 2012 and September 30, 2012 balance sheets in the accompanying condensed consolidating financial statements. |
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The consolidating financial information has been corrected for the information described in Note 11. |
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
September 29, 2013 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
ASSETS | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 133,000 | | | $ | 2,293 | | | $ | 36,187 | | | $ | 12,002 | | | $ | — | | | $ | 183,482 | | |
|
Receivables | | 12 | | | 124,478 | | | 70,303 | | | 589,797 | | | (742,056 | ) | | 42,534 | | |
|
Inventories | | — | | | 1,578 | | | 2,090 | | | 25,648 | | | — | | | 29,316 | | |
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Current deferred tax asset | | — | | | 3,708 | | | 816 | | | 3,661 | | | — | | | 8,185 | | |
|
Income tax refundable | | — | | | — | | | 662 | | | — | | | — | | | 662 | | |
|
Other current assets | | 995 | | | 3,558 | | | 613 | | | 3,798 | | | — | | | 8,964 | | |
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| | 134,007 | | | 135,615 | | | 110,671 | | | 634,906 | | | (742,056 | ) | | 273,143 | | |
|
Property and Equipment (net) | | 450,205 | | | 985 | | | 248,484 | | | 815,000 | | | — | | | 1,514,674 | | |
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Investment in Park | | 548,241 | | | 824,356 | | | 143,548 | | | 81,719 | | | (1,597,864 | ) | | — | | |
|
Goodwill | | 9,061 | | | — | | | 121,657 | | | 111,218 | | | — | | | 241,936 | | |
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Other Intangibles, net | | — | | | — | | | 17,228 | | | 22,797 | | | — | | | 40,025 | | |
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Deferred Tax Asset | | — | | | 30,316 | | | — | | | 90 | | | (30,406 | ) | | — | | |
|
Intercompany Receivable | | 877,010 | | | 1,069,069 | | | 1,113,983 | | | — | | | (3,060,062 | ) | | — | | |
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Other Assets | | 13,196 | | | 9,031 | | | 6,902 | | | 2,140 | | | — | | | 31,269 | | |
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| | $ | 2,031,720 | | | $ | 2,069,372 | | | $ | 1,762,473 | | | $ | 1,667,870 | | | $ | (5,430,388 | ) | | $ | 2,101,047 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 6,300 | | | $ | 6,300 | | | $ | 6,300 | | | $ | — | | | $ | (12,600 | ) | | $ | 6,300 | | |
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Accounts payable | | 281,983 | | | 159,781 | | | 7,802 | | | 314,367 | | | (742,056 | ) | | 21,877 | | |
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Deferred revenue | | — | | | — | | | 1,951 | | | 35,676 | | | — | | | 37,627 | | |
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Accrued interest | | 2,677 | | | 1,593 | | | 5,983 | | | — | | | — | | | 10,253 | | |
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Accrued taxes | | 5,413 | | | 29,386 | | | — | | | 4,594 | | | — | | | 39,393 | | |
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Accrued salaries, wages and benefits | | 1 | | | 27,622 | | | 2,154 | | | 9,844 | | | — | | | 39,621 | | |
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Self-insurance reserves | | — | | | 5,545 | | | 1,896 | | | 16,647 | | | — | | | 24,088 | | |
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Other accrued liabilities | | 991 | | | 4,077 | | | 694 | | | 1,856 | | | — | | | 7,618 | | |
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| | 297,365 | | | 234,304 | | | 26,780 | | | 382,984 | | | (754,656 | ) | | 186,777 | | |
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Deferred Tax Liability | | — | | | — | | | 61,143 | | | 126,866 | | | (30,406 | ) | | 157,603 | | |
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Derivative Liability | | 18,407 | | | 13,239 | | | — | | | — | | | — | | | 31,646 | | |
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Other Liabilities | | — | | | 5,573 | | | — | | | 3,500 | | | — | | | 9,073 | | |
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Long-Term Debt: | | | | | | | | | | | | | |
Term debt | | 622,125 | | | 622,125 | | | 622,125 | | | — | | | (1,244,250 | ) | | 622,125 | | |
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Notes | | 901,606 | | | 901,606 | | | 901,606 | | | — | | | (1,803,212 | ) | | 901,606 | | |
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| | 1,523,731 | | | 1,523,731 | | | 1,523,731 | | | — | | | (3,047,462 | ) | | 1,523,731 | | |
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| | | | | | | | | | | | | |
Equity | | 192,217 | | | 292,525 | | | 150,819 | | | 1,154,520 | | | (1,597,864 | ) | | 192,217 | | |
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| | $ | 2,031,720 | | | $ | 2,069,372 | | | $ | 1,762,473 | | | $ | 1,667,870 | | | $ | (5,430,388 | ) | | $ | 2,101,047 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
31-Dec-12 |
(In thousands) |
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| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
ASSETS | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 25,000 | | | $ | 444 | | | $ | 50,173 | | | $ | 3,213 | | | $ | — | | | $ | 78,830 | | |
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Receivables | | 4 | | | 101,093 | | | 71,099 | | | 498,555 | | | (652,559 | ) | | 18,192 | | |
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Inventories | | — | | | 1,724 | | | 2,352 | | | 23,764 | | | — | | | 27,840 | | |
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Current deferred tax asset | | — | | | 3,705 | | | 816 | | | 3,663 | | | — | | | 8,184 | | |
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Other current assets | | 563 | | | 17,858 | | | 530 | | | 5,490 | | | (16,381 | ) | | 8,060 | | |
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| | 25,567 | | | 124,824 | | | 124,970 | | | 534,685 | | | (668,940 | ) | | 141,106 | | |
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Property and Equipment (net) | | 439,506 | | | 1,013 | | | 268,157 | | | 835,596 | | | — | | | 1,544,272 | | |
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Investment in Park | | 485,136 | | | 772,183 | | | 115,401 | | | 53,790 | | | (1,426,510 | ) | | — | | |
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Goodwill | | 9,061 | | | — | | | 125,942 | | | 111,218 | | | — | | | 246,221 | | |
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Other Intangibles, net | | — | | | — | | | 17,835 | | | 22,817 | | | — | | | 40,652 | | |
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Deferred Tax Asset | | — | | | 36,443 | | | — | | | 90 | | | (36,533 | ) | | — | | |
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Intercompany Receivable | | 877,612 | | | 1,070,125 | | | 1,116,623 | | | — | | | (3,064,360 | ) | | — | | |
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Other Assets | | 22,048 | | | 14,832 | | | 8,419 | | | 2,315 | | | — | | | 47,614 | | |
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| | $ | 1,858,930 | | | $ | 2,019,420 | | | $ | 1,777,347 | | | $ | 1,560,511 | | | $ | (5,196,343 | ) | | $ | 2,019,865 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Accounts payable | | $ | 147,264 | | | $ | 213,279 | | | $ | 16,101 | | | $ | 286,649 | | | $ | (652,559 | ) | | $ | 10,734 | | |
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Deferred revenue | | — | | | — | | | 4,996 | | | 34,489 | | | — | | | 39,485 | | |
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Accrued interest | | 98 | | | 64 | | | 15,350 | | | — | | | — | | | 15,512 | | |
|
Accrued taxes | | 4,518 | | | — | | | 6,239 | | | 23,437 | | | (16,381 | ) | | 17,813 | | |
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Accrued salaries, wages and benefits | | — | | | 17,932 | | | 1,214 | | | 5,690 | | | — | | | 24,836 | | |
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Self-insurance reserves | | — | | | 5,528 | | | 1,754 | | | 16,624 | | | — | | | 23,906 | | |
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Other accrued liabilities | | 1,110 | | | 2,502 | | | 140 | | | 2,164 | | | — | | | 5,916 | | |
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| | 152,990 | | | 239,305 | | | 45,794 | | | 369,053 | | | (668,940 | ) | | 138,202 | | |
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Deferred Tax Liability | | — | | | — | | | 63,460 | | | 126,865 | | | (36,533 | ) | | 153,792 | | |
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Derivative Liability | | 19,309 | | | 12,951 | | | — | | | — | | | — | | | 32,260 | | |
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Other Liabilities | | — | | | 5,480 | | | — | | | 3,500 | | | — | | | 8,980 | | |
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Long-Term Debt: | | | | | | | | | | | | | |
Term debt | | 1,131,100 | | | 1,131,100 | | | 1,131,100 | | | — | | | (2,262,200 | ) | | 1,131,100 | | |
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Notes | | 401,080 | | | 401,080 | | | 401,080 | | | — | | | (802,160 | ) | | 401,080 | | |
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| | 1,532,180 | | | 1,532,180 | | | 1,532,180 | | | — | | | (3,064,360 | ) | | 1,532,180 | | |
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| | | | | | | | | | | | | |
Equity | | 154,451 | | | 229,504 | | | 135,913 | | | 1,061,093 | | | (1,426,510 | ) | | 154,451 | | |
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| | $ | 1,858,930 | | | $ | 2,019,420 | | | $ | 1,777,347 | | | $ | 1,560,511 | | | $ | (5,196,343 | ) | | $ | 2,019,865 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
September 30, 2012 (As restated) |
(In thousands) |
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| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
ASSETS | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 43,000 | | | $ | 2,263 | | | $ | 40,278 | | | $ | 10,561 | | | $ | — | | | $ | 96,102 | | |
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Receivables | | 3 | | | 108,211 | | | 64,153 | | | 478,372 | | | (621,382 | ) | | 29,357 | | |
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Inventories | | — | | | 1,584 | | | 2,742 | | | 29,267 | | | — | | | 33,593 | | |
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Current deferred tax asset | | — | | | 6,239 | | | 772 | | | 3,334 | | | — | | | 10,345 | | |
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Income tax refundable | | — | | | — | | | 10,454 | | | — | | | — | | | 10,454 | | |
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Other current assets | | 929 | | | 2,065 | | | 674 | | | 3,775 | | | — | | | 7,443 | | |
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| | 43,932 | | | 120,362 | | | 119,073 | | | 525,309 | | | (621,382 | ) | | 187,294 | | |
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Property and Equipment (net) | | 425,747 | | | 1,025 | | | 272,951 | | | 856,276 | | | — | | | 1,555,999 | | |
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Investment in Park | | 572,748 | | | 786,753 | | | 115,271 | | | 60,141 | | | (1,534,913 | ) | | — | | |
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Goodwill | | 9,061 | | | — | | | 127,384 | | | 111,218 | | | — | | | 247,663 | | |
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Other Intangibles, net | | — | | | — | | | 18,039 | | | 22,826 | | | — | | | 40,865 | | |
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Deferred Tax Asset | | — | | | 39,320 | | | — | | | — | | | (39,320 | ) | | — | | |
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Intercompany Receivable | | 877,208 | | | 1,069,721 | | | 1,116,623 | | | — | | | (3,063,552 | ) | | — | | |
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Other Assets | | 23,361 | | | 15,580 | | | 8,925 | | | 2,305 | | | — | | | 50,171 | | |
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| | $ | 1,952,057 | | | $ | 2,032,761 | | | $ | 1,778,266 | | | $ | 1,578,075 | | | $ | (5,259,167 | ) | | $ | 2,081,992 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Accounts payable | | $ | 210,936 | | | $ | 116,160 | | | $ | 29,248 | | | $ | 287,634 | | | $ | (621,382 | ) | | $ | 22,596 | | |
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Deferred revenue | | — | | | — | | | 4,544 | | | 30,138 | | | — | | | 34,682 | | |
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Accrued interest | | 735 | | | 195 | | | 6,082 | | | — | | | — | | | 7,012 | | |
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Accrued taxes | | 5,818 | | | 42,090 | | | — | | | 4,496 | | | — | | | 52,404 | | |
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Accrued salaries, wages and benefits | | — | | | 24,864 | | | 2,365 | | | 8,990 | | | — | | | 36,219 | | |
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Self-insurance reserves | | — | | | 4,751 | | | 1,698 | | | 16,643 | | | — | | | 23,092 | | |
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Other accrued liabilities | | 824 | | | 4,097 | | | 2,417 | | | 3,505 | | | — | | | 10,843 | | |
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| | 218,313 | | | 192,157 | | | 46,354 | | | 351,406 | | | (621,382 | ) | | 186,848 | | |
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Deferred Tax Liability | | — | | | — | | | 59,462 | | | 119,971 | | | (39,320 | ) | | 140,113 | | |
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Derivative Liability | | 20,801 | | | 13,907 | | | — | | | — | | | — | | | 34,708 | | |
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Other Liabilities | | — | | | 3,880 | | | — | | | 3,500 | | | — | | | 7,380 | | |
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Long-Term Debt: | | | | | | | | | | | | | |
Term debt | | 1,131,100 | | | 1,131,100 | | | 1,131,100 | | | — | | | (2,262,200 | ) | | 1,131,100 | | |
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Notes | | 400,676 | | | 400,676 | | | 400,676 | | | — | | | (801,352 | ) | | 400,676 | | |
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| | 1,531,776 | | | 1,531,776 | | | 1,531,776 | | | — | | | (3,063,552 | ) | | 1,531,776 | | |
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| | | | | | | | | | | | | |
Equity | | 181,167 | | | 291,041 | | | 140,674 | | | 1,103,198 | | | (1,534,913 | ) | | 181,167 | | |
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| | $ | 1,952,057 | | | $ | 2,032,761 | | | $ | 1,778,266 | | | $ | 1,578,075 | | | $ | (5,259,167 | ) | | $ | 2,081,992 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Three Months Ended September 29, 2013 |
(In thousands) |
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| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 83,285 | | | $ | 161,866 | | | $ | 82,265 | | | $ | 509,467 | | | $ | (244,807 | ) | | $ | 592,076 | | |
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Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 6,082 | | | 39,761 | | | — | | | 45,843 | | |
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Operating expenses | | 1,669 | | | 76,468 | | | 19,042 | | | 318,022 | | | (244,807 | ) | | 170,394 | | |
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Selling, general and administrative | | 1,796 | | | 38,083 | | | 4,781 | | | 14,067 | | | — | | | 58,727 | | |
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Depreciation and amortization | | 18,306 | | | 10 | | | 8,979 | | | 30,200 | | | — | | | 57,495 | | |
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Gain on sale of other assets | | — | | | — | | | — | | | (8,743 | ) | | — | | | (8,743 | ) | |
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Loss on impairment / retirement of fixed assets, net | | 368 | | | — | | | 1 | | | 1,268 | | | — | | | 1,637 | | |
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| | 22,139 | | | 114,561 | | | 38,885 | | | 394,575 | | | (244,807 | ) | | 325,353 | | |
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Operating income | | 61,146 | | | 47,305 | | | 43,380 | | | 114,892 | | | — | | | 266,723 | | |
|
Interest expense (income), net | | 10,858 | | | 6,901 | | | 9,731 | | | (1,978 | ) | | — | | | 25,512 | | |
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Net effect of swaps | | 810 | | | 567 | | | — | | | — | | | — | | | 1,377 | | |
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Unrealized / realized foreign currency gain | | — | | | — | | | (8,615 | ) | | — | | | — | | | (8,615 | ) | |
|
Other (income) expense | | 188 | | | (2,129 | ) | | 584 | | | 1,357 | | | — | | | — | | |
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Income from investment in affiliates | | (146,054 | ) | | (78,714 | ) | | (13,606 | ) | | (40,904 | ) | | 279,278 | | | — | | |
|
Net income before taxes | | 195,344 | | | 120,680 | | | 55,286 | | | 156,417 | | | (279,278 | ) | | 248,449 | | |
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Provision for taxes | | 4,920 | | | 14,537 | | | 14,390 | | | 24,178 | | | — | | | 58,025 | | |
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Net income | | $ | 190,424 | | | $ | 106,143 | | | $ | 40,896 | | | $ | 132,239 | | | $ | (279,278 | ) | | $ | 190,424 | | |
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Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | (699 | ) | | — | | | (699 | ) | | — | | | 699 | | | (699 | ) | |
|
Unrealized income (loss) on cash flow hedging derivatives | | (2,761 | ) | | (1,202 | ) | | — | | | — | | | 1,202 | | | (2,761 | ) | |
|
Other comprehensive income (loss), (net of tax) | | (3,460 | ) | | (1,202 | ) | | (699 | ) | | — | | | 1,901 | | | (3,460 | ) | |
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Total Comprehensive Income | | $ | 186,964 | | | $ | 104,941 | | | $ | 40,197 | | | $ | 132,239 | | | $ | (277,377 | ) | | $ | 186,964 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Three Months Ended September 30, 2012 (As restated) |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 79,663 | | | $ | 141,134 | | | $ | 88,334 | | | $ | 464,902 | | | $ | (220,588 | ) | | $ | 553,445 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 6,447 | | | 40,906 | | | — | | | 47,353 | | |
|
Operating expenses | | 1,368 | | | 74,191 | | | 18,736 | | | 289,604 | | | (220,588 | ) | | 163,311 | | |
|
Selling, general and administrative | | 1,853 | | | 32,627 | | | 4,822 | | | 13,691 | | | — | | | 52,993 | | |
|
Depreciation and amortization | | 19,209 | | | 10 | | | 9,430 | | | 31,574 | | | — | | | 60,223 | | |
|
Loss on impairment / retirement of fixed assets, net | | 25,000 | | | — | | | — | | | — | | | — | | | 25,000 | | |
|
| | 47,430 | | | 106,828 | | | 39,435 | | | 375,775 | | | (220,588 | ) | | 348,880 | | |
|
Operating income | | 32,233 | | | 34,306 | | | 48,899 | | | 89,127 | | | — | | | 204,565 | | |
|
Interest expense, net | | 12,213 | | | 7,258 | | | 9,897 | | | (2,518 | ) | | — | | | 26,850 | | |
|
Net effect of swaps | | (104 | ) | | (71 | ) | | — | | | — | | | — | | | (175 | ) | |
|
Unrealized / realized foreign currency gain | | — | | | — | | | (15,035 | ) | | — | | | — | | | (15,035 | ) | |
|
Other (income) expense | | 186 | | | (2,043 | ) | | 512 | | | 1,345 | | | — | | | — | | |
|
Income from investment in affiliates | | (125,636 | ) | | (79,925 | ) | | (11,355 | ) | | (45,354 | ) | | 262,270 | | | — | | |
|
Income before taxes | | 145,574 | | | 109,087 | | | 64,880 | | | 135,654 | | | (262,270 | ) | | 192,925 | | |
|
Provision for taxes | | 4,561 | | | 9,777 | | | 17,181 | | | 20,393 | | | — | | | 51,912 | | |
|
Net income | | $ | 141,013 | | | $ | 99,310 | | | $ | 47,699 | | | $ | 115,261 | | | $ | (262,270 | ) | | $ | 141,013 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | (563 | ) | | — | | | (563 | ) | | — | | | 563 | | | (563 | ) | |
|
Unrealized income (loss) on cash flow hedging derivatives | | (234 | ) | | 48 | | | — | | | — | | | (48 | ) | | (234 | ) | |
|
Other comprehensive income (loss), (net of tax) | | (797 | ) | | 48 | | | (563 | ) | | — | | | 515 | | | (797 | ) | |
|
Total Comprehensive Income | | $ | 140,216 | | | $ | 99,358 | | | $ | 47,136 | | | $ | 115,261 | | | $ | (261,755 | ) | | $ | 140,216 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Nine Months Ended September 29, 2013 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 131,528 | | | $ | 255,595 | | | $ | 117,508 | | | $ | 877,450 | | | $ | (386,586 | ) | | $ | 995,495 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 9,076 | | | 72,857 | | | — | | | 81,933 | | |
|
Operating expenses | | 4,500 | | | 150,320 | | | 40,569 | | | 579,532 | | | (386,586 | ) | | 388,335 | | |
|
Selling, general and administrative | | 4,310 | | | 81,584 | | | 9,360 | | | 30,279 | | | — | | | 125,533 | | |
|
Depreciation and amortization | | 31,672 | | | 28 | | | 15,797 | | | 60,816 | | | — | | | 108,313 | | |
|
Gain on sale of other assets | | — | | | — | | | — | | | (8,743 | ) | | — | | | (8,743 | ) | |
|
Loss on impairment / retirement of fixed assets, net | | 404 | | | — | | | 479 | | | 1,383 | | | — | | | 2,266 | | |
|
| | 40,886 | | | 231,932 | | | 75,281 | | | 736,124 | | | (386,586 | ) | | 697,637 | | |
|
Operating income | | 90,642 | | | 23,663 | | | 42,227 | | | 141,326 | | | — | | | 297,858 | | |
|
Interest expense (income), net | | 31,580 | | | 21,824 | | | 29,338 | | | (5,715 | ) | | — | | | 77,027 | | |
|
Net effect of swaps | | 5,067 | | | 3,248 | | | — | | | — | | | — | | | 8,315 | | |
|
Loss on early debt extinguishment | | 21,175 | | | 12,781 | | | 617 | | | — | | | — | | | 34,573 | | |
|
Unrealized / realized foreign currency loss | | — | | | — | | | 15,229 | | | — | | | — | | | 15,229 | | |
|
Other (income) expense | | 563 | | | (6,645 | ) | | 1,967 | | | 4,115 | | | — | | | — | | |
|
Income from investment in affiliates | | (104,833 | ) | | (58,614 | ) | | (18,318 | ) | | (15,029 | ) | | 196,794 | | | — | | |
|
Income before taxes | | 137,090 | | | 51,069 | | | 13,394 | | | 157,955 | | | (196,794 | ) | | 162,714 | | |
|
Provision (benefit) for taxes | | 8,402 | | | (2,444 | ) | | (1,596 | ) | | 29,664 | | | — | | | 34,026 | | |
|
Net income | | $ | 128,688 | | | $ | 53,513 | | | $ | 14,990 | | | $ | 128,291 | | | $ | (196,794 | ) | | $ | 128,688 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 1,194 | | | — | | | 1,194 | | | — | | | (1,194 | ) | | 1,194 | | |
|
Unrealized income on cash flow hedging derivatives | | 7,803 | | | 1,836 | | | — | | | — | | | (1,836 | ) | | 7,803 | | |
|
Other comprehensive income, (net of tax) | | 8,997 | | | 1,836 | | | 1,194 | | | — | | | (3,030 | ) | | 8,997 | | |
|
Total Comprehensive Income | | $ | 137,685 | | | $ | 55,349 | | | $ | 16,184 | | | $ | 128,291 | | | $ | (199,824 | ) | | $ | 137,685 | | |
|
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Nine Months Ended September 30, 2012 (As restated) |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 124,864 | | | $ | 221,221 | | | $ | 130,441 | | | $ | 808,471 | | | $ | (345,748 | ) | | $ | 939,249 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 9,988 | | | 73,938 | | | — | | | 83,926 | | |
|
Operating expenses | | 4,141 | | | 147,211 | | | 40,328 | | | 534,900 | | | (345,748 | ) | | 380,832 | | |
|
Selling, general and administrative | | 4,841 | | | 70,848 | | | 9,877 | | | 29,922 | | | — | | | 115,488 | | |
|
Depreciation and amortization | | 33,436 | | | 28 | | | 16,415 | | | 62,332 | | | — | | | 112,211 | | |
|
Loss on impairment / retirement of fixed assets, net | | 24,221 | | | — | | | 9 | | | — | | | — | | | 24,230 | | |
|
| | 66,639 | | | 218,087 | | | 76,617 | | | 701,092 | | | (345,748 | ) | | 716,687 | | |
|
Operating income | | 58,225 | | | 3,134 | | | 53,824 | | | 107,379 | | | — | | | 222,562 | | |
|
Interest expense, net | | 36,438 | | | 21,957 | | | 30,898 | | | (5,422 | ) | | — | | | 83,871 | | |
|
Net effect of swaps | | (35 | ) | | 192 | | | (1,475 | ) | | — | | | — | | | (1,318 | ) | |
|
Unrealized / realized foreign currency gain | | — | | | — | | | (13,926 | ) | | — | | | — | | | (13,926 | ) | |
|
Other (income) expense | | 561 | | | (7,119 | ) | | 1,221 | | | 5,337 | | | — | | | — | | |
|
Income from investment in affiliates | | (99,621 | ) | | (73,448 | ) | | (14,896 | ) | | (38,551 | ) | | 226,516 | | | — | | |
|
Income before taxes | | 120,882 | | | 61,552 | | | 52,002 | | | 146,015 | | | (226,516 | ) | | 153,935 | | |
|
Provision (benefit) for taxes | | 8,701 | | | (3,771 | ) | | 13,525 | | | 23,299 | | | — | | | 41,754 | | |
|
Net income | | $ | 112,181 | | | $ | 65,323 | | | $ | 38,477 | | | $ | 122,716 | | | $ | (226,516 | ) | | $ | 112,181 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | (1,251 | ) | | — | | | (1,251 | ) | | — | | | 1,251 | | | (1,251 | ) | |
|
Unrealized income (loss) on cash flow hedging derivatives | | (1,798 | ) | | (629 | ) | | 21 | | | — | | | 608 | | | (1,798 | ) | |
|
Other comprehensive income (loss), (net of tax) | | (3,049 | ) | | (629 | ) | | (1,230 | ) | | — | | | 1,859 | | | (3,049 | ) | |
|
Total Comprehensive Income | | $ | 109,132 | | | $ | 64,694 | | | $ | 37,247 | | | $ | 122,716 | | | $ | (224,657 | ) | | $ | 109,132 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Twelve Months Ended September 29, 2013 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 152,379 | | | $ | 292,510 | | | $ | 127,485 | | | $ | 996,647 | | | $ | (444,321 | ) | | $ | 1,124,700 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 9,404 | | | 83,651 | | | — | | | 93,055 | | |
|
Operating expenses | | 5,739 | | | 179,465 | | | 48,104 | | | 669,919 | | | (444,321 | ) | | 458,906 | | |
|
Selling, general and administrative | | 5,964 | | | 97,351 | | | 10,618 | | | 34,423 | | | — | | | 148,356 | | |
|
Depreciation and amortization | | 35,896 | | | 40 | | | 17,581 | | | 68,891 | | | — | | | 122,408 | | |
|
(Gain) on sale of other assets | | — | | | — | | | — | | | (15,368 | ) | | — | | | (15,368 | ) | |
|
Loss on impairment / retirement of fixed assets, net | | 1,318 | | | — | | | 476 | | | 6,578 | | | — | | | 8,372 | | |
|
| | 48,917 | | | 276,856 | | | 86,183 | | | 848,094 | | | (444,321 | ) | | 815,729 | | |
|
Operating income | | 103,462 | | | 15,654 | | | 41,302 | | | 148,553 | | | — | | | 308,971 | | |
|
Interest (income) expense, net | | 43,667 | | | 29,195 | | | 39,310 | | | (8,465 | ) | | — | | | 103,707 | | |
|
Net effect of swaps | | 4,964 | | | 3,177 | | | — | | | — | | | — | | | 8,141 | | |
|
Loss on early debt extinguishment | | 21,175 | | | 12,781 | | | 617 | | | — | | | — | | | 34,573 | | |
|
Unrealized / realized foreign currency loss | | — | | | — | | | 20,157 | | | — | | | — | | | 20,157 | | |
|
Other (income) expense | | 751 | | | (9,033 | ) | | 2,766 | | | 5,516 | | | — | | | — | | |
|
Income from investment in affiliates | | (95,234 | ) | | (51,316 | ) | | (18,019 | ) | | (8,239 | ) | | 172,808 | | | — | | |
|
Income (loss) before taxes | | 128,139 | | | 30,850 | | | (3,529 | ) | | 159,741 | | | (172,808 | ) | | 142,393 | | |
|
Provision (benefit) for taxes | | 9,776 | | | (8,530 | ) | | (11,708 | ) | | 34,492 | | | — | | | 24,030 | | |
|
Net income | | $ | 118,363 | | | $ | 39,380 | | | $ | 8,179 | | | $ | 125,249 | | | $ | (172,808 | ) | | $ | 118,363 | | |
|
Other comprehensive income, (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 2,814 | | | — | | | 2,814 | | | — | | | (2,814 | ) | | 2,814 | | |
|
Unrealized income on cash flow hedging derivatives | | 9,740 | | | 2,385 | | | — | | | — | | | (2,385 | ) | | 9,740 | | |
|
Other comprehensive income, (net of tax) | | 12,554 | | | 2,385 | | | 2,814 | | | — | | | (5,199 | ) | | 12,554 | | |
|
Total Comprehensive Income | | $ | 130,917 | | | $ | 41,765 | | | $ | 10,993 | | | $ | 125,249 | | | $ | (178,007 | ) | | $ | 130,917 | | |
|
|
|
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Twelve Months Ended September 30, 2012 (As restated) |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 147,733 | | | $ | 261,878 | | | $ | 142,250 | | | $ | 941,465 | | | $ | (409,232 | ) | | $ | 1,084,094 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise and games revenues | | — | | | — | | | 10,531 | | | 85,471 | | | — | | | 96,002 | | |
|
Operating expenses | | 5,452 | | | 180,665 | | | 47,134 | | | 636,106 | | | (409,232 | ) | | 460,125 | | |
|
Selling, general and administrative | | 6,865 | | | 90,892 | | | 11,650 | | | 36,381 | | | — | | | 145,788 | | |
|
Depreciation and amortization | | 37,698 | | | 41 | | | 18,300 | | | 71,152 | | | — | | | 127,191 | | |
|
Loss (gain) on impairment / retirement of fixed assets, net | | 24,188 | | | — | | | (62 | ) | | 10,383 | | | — | | | 34,509 | | |
|
| | 74,203 | | | 271,598 | | | 87,553 | | | 839,493 | | | (409,232 | ) | | 863,615 | | |
|
Operating income (loss) | | 73,530 | | | (9,720 | ) | | 54,697 | | | 101,972 | | | — | | | 220,479 | | |
|
Interest expense, net | | 50,007 | | | 28,592 | | | 44,583 | | | (6,813 | ) | | — | | | 116,369 | | |
|
Net effect of swaps | | (5,019 | ) | | (1 | ) | | (5,910 | ) | | — | | | — | | | (10,930 | ) | |
|
Unrealized / realized foreign currency gain | | — | | | — | | | (18,721 | ) | | — | | | — | | | (18,721 | ) | |
|
Other (income) expense | | 749 | | | (10,205 | ) | | 1,498 | | | 7,958 | | | — | | | — | | |
|
Income from investment in affiliates | | (88,216 | ) | | (50,693 | ) | | (9,456 | ) | | (21,713 | ) | | 170,078 | | | — | | |
|
Income before taxes | | 116,009 | | | 22,587 | | | 42,703 | | | 122,540 | | | (170,078 | ) | | 133,761 | | |
|
Provision (benefit) for taxes | | 10,106 | | | (29,298 | ) | | 20,942 | | | 26,108 | | | — | | | 27,858 | | |
|
Net income | | $ | 105,903 | | | $ | 51,885 | | | $ | 21,761 | | | $ | 96,432 | | | $ | (170,078 | ) | | $ | 105,903 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | (2,672 | ) | | — | | | (2,672 | ) | | — | | | 2,672 | | | (2,672 | ) | |
|
Unrealized income (loss) on cash flow hedging derivatives | | (397 | ) | | (109 | ) | | 21 | | | — | | | 88 | | | (397 | ) | |
|
Other comprehensive income (loss), (net of tax) | | (3,069 | ) | | (109 | ) | | (2,651 | ) | | — | | | 2,760 | | | (3,069 | ) | |
|
Total Comprehensive Income | | $ | 102,834 | | | $ | 51,776 | | | $ | 19,110 | | | $ | 96,432 | | | $ | (167,318 | ) | | $ | 102,834 | | |
|
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended September 29, 2013 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
NET CASH FROM OPERATING ACTIVITIES | | $ | 337,821 | | | $ | 60,434 | | | $ | 21,615 | | | $ | 66,757 | | | $ | (169,672 | ) | | $ | 316,955 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Investment in joint ventures and affiliates | | (63,105 | ) | | (52,172 | ) | | (29,579 | ) | | (24,816 | ) | | 169,672 | | | — | | |
|
Sale of other assets | | — | | | — | | | — | | | 15,297 | | | — | | | 15,297 | | |
|
Capital expenditures | | (43,568 | ) | | — | | | (5,517 | ) | | (48,449 | ) | | — | | | (97,534 | ) | |
|
Net cash from investing activities | | (106,673 | ) | | (52,172 | ) | | (35,096 | ) | | (57,968 | ) | | 169,672 | | | (82,237 | ) | |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | | |
Term debt borrowings | | 359,022 | | | 256,500 | | | 14,478 | | | — | | | — | | | 630,000 | | |
|
Note borrowings | | 294,897 | | | 205,103 | | | — | | | — | | | — | | | 500,000 | | |
|
Payment of debt issuance costs | | (14,331 | ) | | (8,028 | ) | | (453 | ) | | — | | | — | | | (22,812 | ) | |
|
Term debt payments, including early termination penalties | | (655,723 | ) | | (462,438 | ) | | (14,514 | ) | | — | | | — | | | (1,132,675 | ) | |
|
Distributions (paid) received | | (107,013 | ) | | 2,555 | | | — | | | — | | | — | | | (104,458 | ) | |
|
Exercise of limited partnership unit options | | — | | | 43 | | | — | | | — | | | — | | | 43 | | |
|
Excess tax benefit from unit-based compensation expense | | — | | | (148 | ) | | — | | | — | | | — | | | (148 | ) | |
|
Net cash (for) financing activities | | (123,148 | ) | | (6,413 | ) | | (489 | ) | | — | | | — | | | (130,050 | ) | |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | (16 | ) | | — | | | — | | | (16 | ) | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | | |
Net increase (decrease) for the period | | 108,000 | | | 1,849 | | | (13,986 | ) | | 8,789 | | | — | | | 104,652 | | |
|
Balance, beginning of period | | 25,000 | | | 444 | | | 50,173 | | | 3,213 | | | — | | | 78,830 | | |
|
Balance, end of period | | $ | 133,000 | | | $ | 2,293 | | | $ | 36,187 | | | $ | 12,002 | | | $ | — | | | $ | 183,482 | | |
|
| | | | | | | | | | | | | |
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended September 30, 2012 (As restated) |
(In thousands) |
|
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total |
| | | | | | | | | | | | |
NET CASH FROM OPERATING ACTIVITIES | | $ | 209,022 | | | $ | 49,092 | | | $ | 9,484 | | | $ | 156,240 | | | $ | (147,094 | ) | | $ | 276,744 | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | |
Investment in joint ventures and affiliates | | (56,757 | ) | | (70,669 | ) | | 3,557 | | | (23,225 | ) | | 147,094 | | | — | |
|
Sale of other assets | | 1,173 | | | — | | | — | | | — | | | — | | | 1,173 | |
|
Capital expenditures | | (29,295 | ) | | (8 | ) | | (14,426 | ) | | (32,081 | ) | | — | | | (75,810 | ) |
|
Net cash (for) investing activities | | (84,879 | ) | | (70,677 | ) | | (10,869 | ) | | (55,306 | ) | | 147,094 | | | (74,637 | ) |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | |
Derivative settlement | | — | | | — | | | (50,450 | ) | | — | | | — | | | (50,450 | ) |
|
Term debt payments, including early termination penalties | | (14,468 | ) | | (10,212 | ) | | (320 | ) | | — | | | — | | | (25,000 | ) |
|
Intercompany (payments) receipts | | — | | | 93,845 | | | — | | | (93,845 | ) | | — | | | — | |
|
Distributions (paid) received | | (66,675 | ) | | 110 | | | — | | | — | | | — | | | (66,565 | ) |
|
Capital (contribution) infusion | | — | | | (60,000 | ) | — | | 60,000 | | | — | | | — | | | — | |
|
Exercise of limited partnership unit options | | — | | | 47 | | | — | | | — | | | — | | | 47 | |
|
Excess tax benefit from unit-based compensation | | — | | | (454 | ) | | — | | | — | | | — | | | (454 | ) |
|
Net cash from (for) financing activities | | (81,143 | ) | | 23,336 | | | 9,230 | | | (93,845 | ) | | — | | | (142,422 | ) |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | 893 | | | — | | | — | | | 893 | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | |
Net increase for the period | | 43,000 | | | 1,751 | | | 8,738 | | | 7,089 | | | — | | | 60,578 | |
|
Balance, beginning of period | | — | | | 512 | | | 31,540 | | | 3,472 | | | — | | | 35,524 | |
|
Balance, end of period | | $ | 43,000 | | | $ | 2,263 | | | $ | 40,278 | | | $ | 10,561 | | | $ | — | | | $ | 96,102 | |
|
| | | | | | | | | | | | |
| | | | | | | | | | | | |
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Twelve Months Ended September 29, 2013 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
NET CASH FROM OPERATING ACTIVITIES | | $ | 258,843 | | | $ | 42,367 | | | $ | 32,927 | | | $ | 52,457 | | | $ | (61,746 | ) | | $ | 324,848 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Investment in joint ventures and affiliates | | 24,507 | | | (37,602 | ) | | (30,743 | ) | | (17,908 | ) | | 61,746 | | | — | | |
|
Sale of other assets | | — | | | — | | | — | | | 30,182 | | | — | | | 30,182 | | |
|
Capital expenditures | | (47,938 | ) | | (1 | ) | | (5,532 | ) | | (63,290 | ) | | — | | | (116,761 | ) | |
|
Net cash (for) investing activities | | (23,431 | ) | | (37,603 | ) | | (36,275 | ) | | (51,016 | ) | | 61,746 | | | (86,579 | ) | |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | | |
Term debt borrowings | | 359,022 | | | 256,500 | | | 14,478 | | | — | | | — | | | 630,000 | | |
|
Note borrowings | | 294,897 | | | 205,103 | | | — | | | — | | | — | | | 500,000 | | |
|
Term debt payments, including early termination penalties | | (655,723 | ) | | (462,438 | ) | | (14,514 | ) | | — | | | — | | | (1,132,675 | ) | |
|
Distributions (paid) received | | (129,277 | ) | | 2,571 | | | — | | | — | | | — | | | (126,706 | ) | |
|
Exercise of limited partnership unit options | | — | | | 43 | | | — | | | — | | | — | | | 43 | | |
|
Payment of debt issuance costs | | (14,331 | ) | | (8,028 | ) | | (453 | ) | | — | | | — | | | (22,812 | ) | |
|
Excess tax benefit from unit-based compensation expense | | — | | | 1,515 | | | — | | | — | | | — | | | 1,515 | | |
|
Net cash (for) financing activities | | (145,412 | ) | | (4,734 | ) | | (489 | ) | | — | | | — | | | (150,635 | ) | |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | (254 | ) | | — | | | — | | | (254 | ) | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | | |
Net increase (decrease) for the period | | 90,000 | | | 30 | | | (4,091 | ) | | 1,441 | | | — | | | 87,380 | | |
|
Balance, beginning of period | | 43,000 | | | 2,263 | | | 40,278 | | | 10,561 | | | — | | | 96,102 | | |
|
Balance, end of period | | $ | 133,000 | | | $ | 2,293 | | | $ | 36,187 | | | $ | 12,002 | | | $ | — | | | $ | 183,482 | | |
|
| | | | | | | | | | | | | |
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Twelve Months Ended September 30, 2012 (As restated) |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
NET CASH FROM (FOR) OPERATING ACTIVITIES | | $ | 181,718 | | | $ | (157,023 | ) | | $ | 8,795 | | | $ | 314,835 | | | $ | (75,771 | ) | | $ | 272,554 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Investment in joint ventures and affiliates | | (35,830 | ) | | (42,342 | ) | | 8,488 | | | (6,087 | ) | | 75,771 | | | — | | |
|
Sale of other assets | | 1,173 | | | — | | | — | | | — | | | — | | | 1,173 | | |
|
Capital expenditures | | (33,025 | ) | | (8 | ) | | (23,050 | ) | | (37,037 | ) | | — | | | (93,120 | ) | |
|
Net cash (for) investing activities | | (67,682 | ) | | (42,350 | ) | | (14,562 | ) | | (43,124 | ) | | 75,771 | | | (91,947 | ) | |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | | |
Intercompany term debt (payments) receipts | | — | | | 269,500 | | | — | | | (269,500 | ) | | — | | | — | | |
|
Term debt payments, including early termination penalties | | (14,467 | ) | | (10,213 | ) | | (320 | ) | | — | | | — | | | (25,000 | ) | |
|
Derivative settlement | | — | | | — | | | (50,450 | ) | | — | | | — | | | (50,450 | ) | |
|
Distributions (paid) received | | (105,569 | ) | | 261 | | | — | | | — | | | — | | | (105,308 | ) | |
|
Capital (contribution) infusion | | — | | | (60,000 | ) | | 60,000 | | | — | | | — | | | — | | |
|
Payment of debt issuance costs | | — | | | — | | | (723 | ) | | — | | | — | | | (723 | ) | |
|
Exercise of limited partnership unit options | | — | | | 53 | | | — | | | — | | | — | | | 53 | | |
|
Excess tax benefit from unit-based compensation | | — | | | (454 | ) | | — | | | — | | | — | | | (454 | ) | |
|
Net cash from (for) financing activities | | (120,036 | ) | | 199,147 | | | 8,507 | | | (269,500 | ) | | — | | | (181,882 | ) | |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | 1,065 | | | — | | | — | | | 1,065 | | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | | |
Net increase (decrease) for the period | | (6,000 | ) | | (226 | ) | | 3,805 | | | 2,211 | | | — | | | (210 | ) | |
|
Balance, beginning of period | | 49,000 | | | 2,489 | | | 36,473 | | | 8,350 | | | — | | | 96,312 | | |
|
Balance, end of period | | $ | 43,000 | | | $ | 2,263 | | | $ | 40,278 | | | $ | 10,561 | | | $ | — | | | $ | 96,102 | | |
|
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