Consolidating Financial Information of Guarantors and Issuers | 9 Months Ended |
Sep. 28, 2014 |
Condensed Consolidating 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 June 2014 and March 2013 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 28, 2014, December 31, 2013, and September 29, 2013 and for the three, nine, and twelve month periods ended September 28, 2014 and September 29, 2013. 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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The Partnership adopted ASU 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date" as of January 1, 2014. The debt disclosed on the unaudited balance sheets as of September 28, 2014, December 31, 2013, and September 29, 2013 reflect the adoption of this guidance. For the periods ended December 31, 2013 and September 29, 2013, the debt disclosed and related items have been adjusted to reflect only the amounts of debt Cedar Fair, L.P, Cedar Canada, and Magnum have recorded on their books. |
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In addition to making the retrospective adjustments to the balance sheets related to the adoption of ASU 2013-04, the Unaudited Condensed Consolidating Statements of Cash Flows for the nine and twelve month periods ended September 29, 2013 have been revised to correct the presentation of certain intercompany transactions previously recorded as cash flows from operating activities and the presentation of an intercompany term debt receipt previously recorded as cash flows from financing activities. A summary of the changes are below: |
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Condensed Consolidating Statements of Cash Flows | |
For the Nine Month Period Ended September 29, 2013 | |
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(In thousands) | | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
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As reported - Net cash from (for) operating activities | | $ | 337,821 | | | $ | 60,434 | | | $ | 21,615 | | | $ | 66,757 | | | $ | (169,672 | ) | | $ | 316,955 | | |
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Investment in joint ventures and affiliates | | (63,105 | ) | | (52,172 | ) | | (29,579 | ) | | (24,816 | ) | | 169,672 | | | — | | |
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Intercompany receivables (payments) receipts | | — | | | (41,768 | ) | | — | | | 55,439 | | | (13,671 | ) | | — | | |
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Intercompany payables (payments) receipts | | (134,694 | ) | | 73,536 | | | 5,655 | | | 41,832 | | | 13,671 | | | — | | |
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Dividends paid | | — | | | — | | | 13,173 | | | — | | | (13,173 | ) | | — | | |
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As corrected - Net cash from (for) operating activities | | $ | 140,022 | | | $ | 40,030 | | | $ | 10,864 | | | $ | 139,212 | | | $ | (13,173 | ) | | $ | 316,955 | | |
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As reported - Net cash from (for) investing activities | | $ | (106,673 | ) | | $ | (52,172 | ) | | $ | (35,096 | ) | | $ | (57,968 | ) | | $ | 169,672 | | | $ | (82,237 | ) | |
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Investment in joint ventures and affiliates | | 63,105 | | | 52,172 | | | 29,579 | | | 24,816 | | | (169,672 | ) | | — | | |
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Intercompany receivables (payments) receipts | | — | | | 41,768 | | | — | | | (55,439 | ) | | 13,671 | | | — | | |
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As corrected - Net cash from (for) investing activities | | $ | (43,568 | ) | | $ | 41,768 | | | $ | (5,517 | ) | | $ | (88,591 | ) | | $ | 13,671 | | | $ | (82,237 | ) | |
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As reported - Net cash from (for) financing activities | | $ | (123,148 | ) | | $ | (6,413 | ) | | $ | (489 | ) | | $ | — | | | $ | — | | | $ | (130,050 | ) | |
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Dividends paid | | — | | | — | | | (13,173 | ) | | | | 13,173 | | | — | | |
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Intercompany payables (payments) receipts | | 134,694 | | | (73,536 | ) | | (5,655 | ) | | (41,832 | ) | | (13,671 | ) | | — | | |
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As corrected - Net cash from (for) financing activities | | $ | 11,546 | | | $ | (79,949 | ) | | $ | (19,317 | ) | | $ | (41,832 | ) | | $ | (498 | ) | | $ | (130,050 | ) | |
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Condensed Consolidating Statements of Cash Flows | |
For the Twelve Month Period Ended September 29, 2013 | |
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(In thousands) | | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
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As reported - Net cash from (for) operating activities | | $ | 258,843 | | | $ | 42,367 | | | $ | 32,927 | | | $ | 52,457 | | | $ | (61,746 | ) | | $ | 324,848 | | |
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Investment in joint ventures and affiliates | | 24,507 | | | (37,602 | ) | | (30,743 | ) | | (17,908 | ) | | 61,746 | | | — | | |
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Intercompany receivables (payments) receipts | | — | | | (46,143 | ) | | — | | | 60,099 | | | (13,956 | ) | | — | | |
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Intercompany payables (payments) receipts | | (71,020 | ) | | 6,760 | | | 4,098 | | | 46,206 | | | 13,956 | | | — | | |
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Dividends paid | | — | | | — | | | 13,173 | | | — | | | (13,173 | ) | | — | | |
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As corrected - Net cash from (for) operating activities | | $ | 212,330 | | | $ | (34,618 | ) | | $ | 19,455 | | | $ | 140,854 | | | $ | (13,173 | ) | | $ | 324,848 | | |
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As reported - Net cash from (for) investing activities | | $ | (23,431 | ) | | $ | (37,603 | ) | | $ | (36,275 | ) | | $ | (51,016 | ) | | $ | 61,746 | | | $ | (86,579 | ) | |
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Investment in joint ventures and affiliates | | (24,507 | ) | | 37,602 | | | 30,743 | | | 17,908 | | | (61,746 | ) | | — | | |
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Intercompany receivables (payments) receipts | | — | | | 46,143 | | | — | | | (60,099 | ) | | 13,956 | | | — | | |
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As corrected - Net cash from (for) investing activities | | $ | (47,938 | ) | | $ | 46,142 | | | $ | (5,532 | ) | | $ | (93,207 | ) | | $ | 13,956 | | | $ | (86,579 | ) | |
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As reported - Net cash from (for) financing activities | | $ | (145,412 | ) | | $ | (4,734 | ) | | $ | (489 | ) | | $ | — | | | $ | — | | | $ | (150,635 | ) | |
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Dividends paid | | — | | | — | | | (13,173 | ) | | — | | | 13,173 | | | — | | |
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Intercompany payables (payments) receipts | | 71,020 | | | (6,760 | ) | | (4,098 | ) | | (46,206 | ) | | (13,956 | ) | | — | | |
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As corrected - Net cash from (for) financing activities | | $ | (74,392 | ) | | $ | (11,494 | ) | | $ | (17,760 | ) | | $ | (46,206 | ) | | $ | (783 | ) | | $ | (150,635 | ) | |
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These revisions had no effect on the Partnership's Unaudited Condensed Consolidated Balance Sheets, Statements of Operations and Comprehensive Income, Statements of Partner's Equity, or Statements of Cash Flows. |
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
September 28, 2014 |
(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 | | $ | 124,000 | | | $ | 2,194 | | | $ | 52,792 | | | $ | 10,388 | | | $ | — | | | $ | 189,374 | | |
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Receivables | | 11 | | | 131,297 | | | 88,605 | | | 651,998 | | | (830,649 | ) | | 41,262 | | |
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Inventories | | — | | | 3,147 | | | 1,833 | | | 25,481 | | | — | | | 30,461 | | |
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Current deferred tax asset | | — | | | 5,430 | | | 800 | | | 3,445 | | | — | | | 9,675 | | |
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Other current assets | | 1,084 | | | 5,863 | | | 14,219 | | | 5,847 | | | (13,028 | ) | | 13,985 | | |
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| | 125,095 | | | 147,931 | | | 158,249 | | | 697,159 | | | (843,677 | ) | | 284,757 | | |
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Property and Equipment (net) | | 459,332 | | | 8,105 | | | 230,723 | | | 819,971 | | | — | | | 1,518,131 | | |
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Investment in Park | | 560,750 | | | 837,800 | | | 163,809 | | | 60,788 | | | (1,623,147 | ) | | — | | |
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Goodwill | | 9,061 | | | — | | | 112,234 | | | 111,218 | | | — | | | 232,513 | | |
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Other Intangibles, net | | — | | | — | | | 15,911 | | | 22,855 | | | — | | | 38,766 | | |
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Deferred Tax Asset | | — | | | 29,935 | | | — | | | — | | | (29,935 | ) | | — | | |
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Other Assets | | 11,147 | | | 21,071 | | | 8,587 | | | 2,104 | | | — | | | 42,909 | | |
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| | $ | 1,165,385 | | | $ | 1,044,842 | | | $ | 689,513 | | | $ | 1,714,095 | | | $ | (2,496,759 | ) | | $ | 2,117,076 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 2,621 | | | $ | 1,873 | | | $ | 106 | | | $ | — | | | $ | — | | | $ | 4,600 | | |
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Accounts payable | | 340,850 | | | 208,763 | | | 22,485 | | | 280,417 | | | (830,649 | ) | | 21,866 | | |
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Deferred revenue | | — | | | — | | | 4,682 | | | 43,459 | | | — | | | 48,141 | | |
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Accrued interest | | 2,579 | | | 1,552 | | | 7,877 | | | — | | | — | | | 12,008 | | |
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Accrued taxes | | 5,255 | | | 6,534 | | | — | | | 39,646 | | | (13,028 | ) | | 38,407 | | |
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Accrued salaries, wages and benefits | | — | | | 29,505 | | | 1,962 | | | 10,672 | | | — | | | 42,139 | | |
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Self-insurance reserves | | — | | | 5,797 | | | 1,747 | | | 16,387 | | | — | | | 23,931 | | |
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Other accrued liabilities | | 446 | | | 5,388 | | | 693 | | | 1,865 | | | — | | | 8,392 | | |
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| | 351,751 | | | 259,412 | | | 39,552 | | | 392,446 | | | (843,677 | ) | | 199,484 | | |
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Deferred Tax Liability | | — | | | — | | | 55,676 | | | 131,648 | | | (29,935 | ) | | 157,389 | | |
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Derivative Liability | | 15,115 | | | 10,687 | | | — | | | — | | | — | | | 25,802 | | |
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Other Liabilities | | 20 | | | 4,688 | | | — | | | 11,887 | | | — | | | 16,595 | | |
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Long-Term Debt: | | | | | | | | | | | | | |
Term debt | | 350,046 | | | 250,088 | | | 14,116 | | | — | | | — | | | 614,250 | | |
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Notes | | 294,897 | | | 205,103 | | | 450,000 | | | — | | | — | | | 950,000 | | |
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| | 644,943 | | | 455,191 | | | 464,116 | | | — | | | — | | | 1,564,250 | | |
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Equity | | 153,556 | | | 314,864 | | | 130,169 | | | 1,178,114 | | | (1,623,147 | ) | | 153,556 | | |
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| | $ | 1,165,385 | | | $ | 1,044,842 | | | $ | 689,513 | | | $ | 1,714,095 | | | $ | (2,496,759 | ) | | $ | 2,117,076 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
31-Dec-13 |
(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 | | $ | 75,000 | | | $ | 4,144 | | | $ | 35,575 | | | $ | 3,337 | | | $ | — | | | $ | 118,056 | | |
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Receivables | | 6 | | | 115,972 | | | 67,829 | | | 552,633 | | | (715,107 | ) | | 21,333 | | |
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Inventories | | — | | | 1,968 | | | 1,898 | | | 22,214 | | | — | | | 26,080 | | |
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Current deferred tax asset | | — | | | 5,430 | | | 800 | | | 3,445 | | | — | | | 9,675 | | |
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Other current assets | | 599 | | | 4,443 | | | 14,266 | | | 7,764 | | | (15,719 | ) | | 11,353 | | |
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| | 75,605 | | | 131,957 | | | 120,368 | | | 589,393 | | | (730,826 | ) | | 186,497 | | |
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Property and Equipment (net) | | 447,724 | | | 976 | | | 243,208 | | | 813,855 | | | — | | | 1,505,763 | | |
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Investment in Park | | 514,948 | | | 796,735 | | | 142,668 | | | 63,948 | | | (1,518,299 | ) | | — | | |
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Goodwill | | 9,061 | | | — | | | 117,810 | | | 111,218 | | | — | | | 238,089 | | |
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Other Intangibles, net | | — | | | — | | | 16,683 | | | 22,788 | | | — | | | 39,471 | | |
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Deferred Tax Asset | | — | | | 31,122 | | | — | | | 117 | | | (31,239 | ) | | — | | |
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Other Assets | | 25,210 | | | 10,002 | | | 6,657 | | | 2,938 | | | — | | | 44,807 | | |
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| | $ | 1,072,548 | | | $ | 970,792 | | | $ | 647,394 | | | $ | 1,604,257 | | | $ | (2,280,364 | ) | | $ | 2,014,627 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Accounts payable | | $ | 259,850 | | | $ | 188,818 | | | $ | 17,632 | | | $ | 262,029 | | | $ | (715,107 | ) | | $ | 13,222 | | |
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Deferred revenue | | — | | | — | | | 2,815 | | | 41,706 | | | — | | | 44,521 | | |
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Accrued interest | | 4,637 | | | 3,223 | | | 15,341 | | | — | | | — | | | 23,201 | | |
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Accrued taxes | | 4,609 | | | — | | | — | | | 30,591 | | | (15,719 | ) | | 19,481 | | |
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Accrued salaries, wages and benefits | | — | | | 21,596 | | | 1,101 | | | 6,503 | | | — | | | 29,200 | | |
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Self-insurance reserves | | — | | | 5,757 | | | 1,742 | | | 16,154 | | | — | | | 23,653 | | |
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Other accrued liabilities | | 1,146 | | | 2,993 | | | 181 | | | 1,201 | | | — | | | 5,521 | | |
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| | 270,242 | | | 222,387 | | | 38,812 | | | 358,184 | | | (730,826 | ) | | 158,799 | | |
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Deferred Tax Liability | | — | | | — | | | 57,704 | | | 131,648 | | | (31,239 | ) | | 158,113 | | |
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Derivative Liability | | 15,610 | | | 11,052 | | | — | | | — | | | — | | | 26,662 | | |
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Other Liabilities | | — | | | 7,858 | | | — | | | 3,432 | | | — | | | 11,290 | | |
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Long-Term Debt: | | | | | | | | | | | | | |
Term debt | | 352,668 | | | 251,961 | | | 14,221 | | | — | | | — | | | 618,850 | | |
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Notes | | 294,897 | | | 205,103 | | | 401,782 | | | — | | | — | | | 901,782 | | |
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| | 647,565 | | | 457,064 | | | 416,003 | | | — | | | — | | | 1,520,632 | | |
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Equity | | 139,131 | | | 272,431 | | | 134,875 | | | 1,110,993 | | | (1,518,299 | ) | | 139,131 | | |
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| | $ | 1,072,548 | | | $ | 970,792 | | | $ | 647,394 | | | $ | 1,604,257 | | | $ | (2,280,364 | ) | | $ | 2,014,627 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET |
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 | |
ASSETS | | | | | | | | | | | | | |
Current Assets: | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 133,000 | | | $ | 2,293 | | | $ | 36,187 | | | $ | 12,002 | | | $ | — | | | $ | 183,482 | | |
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Receivables | | 12 | | | 124,478 | | | 70,303 | | | 589,797 | | | (742,056 | ) | | 42,534 | | |
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Inventories | | — | | | 1,578 | | | 2,090 | | | 25,648 | | | — | | | 29,316 | | |
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Current deferred tax asset | | — | | | 3,708 | | | 816 | | | 3,661 | | | — | | | 8,185 | | |
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Other current assets | | 995 | | | 3,558 | | | 1,275 | | | 3,798 | | | — | | | 9,626 | | |
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| | 134,007 | | | 135,615 | | | 110,671 | | | 634,906 | | | (742,056 | ) | | 273,143 | | |
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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 | ) | | — | | |
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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 | ) | | — | | |
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Other Assets | | 13,196 | | | 9,031 | | | 6,902 | | | 2,140 | | | — | | | 31,269 | | |
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| | $ | 1,154,710 | | | $ | 1,000,303 | | | $ | 648,490 | | | $ | 1,667,870 | | | $ | (2,370,326 | ) | | $ | 2,101,047 | | |
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LIABILITIES AND PARTNERS’ EQUITY | | | | | | | | | | | | | |
Current Liabilities: | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 3,590 | | | $ | 2,565 | | | $ | 145 | | | $ | — | | | $ | — | | | $ | 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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| | 294,655 | | | 230,569 | | | 20,625 | | | 382,984 | | | (742,056 | ) | | 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 | | 354,534 | | | 253,294 | | | 14,297 | | | — | | | — | | | 622,125 | | |
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Notes | | 294,897 | | | 205,103 | | | 401,606 | | | — | | | — | | | 901,606 | | |
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| | 649,431 | | | 458,397 | | | 415,903 | | | — | | | — | | | 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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| | $ | 1,154,710 | | | $ | 1,000,303 | | | $ | 648,490 | | | $ | 1,667,870 | | | $ | (2,370,326 | ) | | $ | 2,101,047 | | |
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CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Three Months Ended September 28, 2014 |
(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 | | $ | 85,161 | | | $ | 158,384 | | | $ | 76,325 | | | $ | 516,002 | | | $ | (240,554 | ) | | $ | 595,318 | | |
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Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise, and games revenues | | — | | | 2,622 | | | 5,743 | | | 38,447 | | | — | | | 46,812 | | |
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Operating expenses | | 1,248 | | | 77,814 | | | 17,561 | | | 322,580 | | | (240,554 | ) | | 178,649 | | |
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Selling, general and administrative | | 1,307 | | | 35,241 | | | 5,082 | | | 15,575 | | | — | | | 57,205 | | |
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Depreciation and amortization | | 19,709 | | | 166 | | | 8,685 | | | 29,684 | | | — | | | 58,244 | | |
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Gain on sale of other assets | | — | | | — | | | — | | | — | | | — | | | — | | |
|
(Gain) loss on impairment / retirement of fixed assets, net | | 532 | | | 1 | | | 229 | | | 713 | | | — | | | 1,475 | | |
|
| | 22,796 | | | 115,844 | | | 37,300 | | | 406,999 | | | (240,554 | ) | | 342,385 | | |
|
Operating income (loss) | | 62,365 | | | 42,540 | | | 39,025 | | | 109,003 | | | — | | | 252,933 | | |
|
Interest expense (income), net | | 10,622 | | | 7,073 | | | 6,243 | | | (2,492 | ) | | — | | | 21,446 | | |
|
Net effect of swaps | | (666 | ) | | (421 | ) | | — | | | — | | | — | | | (1,087 | ) | |
|
Loss on early debt extinguishment | | — | | | — | | | (246 | ) | | — | | | — | | | (246 | ) | |
|
Unrealized / realized foreign currency gain | | — | | | — | | | 21,515 | | | — | | | — | | | 21,515 | | |
|
Other (income) expense | | 187 | | | (2,415 | ) | | 531 | | | 1,697 | | | — | | | — | | |
|
(Income) loss from investment in affiliates | | (114,725 | ) | | (58,671 | ) | | (14,629 | ) | | (23,774 | ) | | 211,799 | | | — | | |
|
Income (loss) before taxes | | 166,947 | | | 96,974 | | | 25,611 | | | 133,572 | | | (211,799 | ) | | 211,305 | | |
|
Provision (benefit) for taxes | | 5,045 | | | 12,717 | | | 1,836 | | | 29,805 | | | — | | | 49,403 | | |
|
Net income (loss) | | $ | 161,902 | | | $ | 84,257 | | | $ | 23,775 | | | $ | 103,767 | | | $ | (211,799 | ) | | $ | 161,902 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 2,975 | | | — | | | 2,975 | | | — | | | (2,975 | ) | | 2,975 | | |
|
Unrealized income (loss) on cash flow hedging derivatives | | 2,726 | | | 807 | | | — | | | — | | | (807 | ) | | 2,726 | | |
|
Other comprehensive income (loss), (net of tax) | | 5,701 | | | 807 | | | 2,975 | | | — | | | (3,782 | ) | | 5,701 | | |
|
Total Comprehensive Income (loss) | | $ | 167,603 | | | $ | 85,064 | | | $ | 26,750 | | | $ | 103,767 | | | $ | (215,581 | ) | | $ | 167,603 | | |
|
|
|
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Three 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 | | $ | 83,285 | | | $ | 161,866 | | | $ | 82,265 | | | $ | 509,467 | | | $ | (244,807 | ) | | $ | 592,076 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise, and games revenues | | — | | | — | | | 6,082 | | | 39,761 | | | — | | | 45,843 | | |
|
Operating expenses | | 1,669 | | | 76,468 | | | 19,042 | | | 318,022 | | | (244,807 | ) | | 170,394 | | |
|
Selling, general and administrative | | 1,796 | | | 38,083 | | | 4,781 | | | 14,067 | | | — | | | 58,727 | | |
|
Depreciation and amortization | | 18,306 | | | 10 | | | 8,979 | | | 30,200 | | | — | | | 57,495 | | |
|
Gain on sale of other assets | | — | | | — | | | — | | | (8,743 | ) | | — | | | (8,743 | ) | |
|
Loss on impairment / retirement of fixed assets, net | | 368 | | | — | | | 1 | | | 1,268 | | | — | | | 1,637 | | |
|
| | 22,139 | | | 114,561 | | | 38,885 | | | 394,575 | | | (244,807 | ) | | 325,353 | | |
|
Operating income | | 61,146 | | | 47,305 | | | 43,380 | | | 114,892 | | | — | | | 266,723 | | |
|
Interest expense, net | | 10,858 | | | 6,901 | | | 9,731 | | | (1,978 | ) | | — | | | 25,512 | | |
|
Net effect of swaps | | 810 | | | 567 | | | — | | | — | | | — | | | 1,377 | | |
|
Unrealized / realized foreign currency loss | | — | | | — | | | (8,615 | ) | | — | | | — | | | (8,615 | ) | |
|
Other (income) expense | | 188 | | | (2,129 | ) | | 584 | | | 1,357 | | | — | | | — | | |
|
(Income) loss from investment in affiliates | | (146,054 | ) | | (78,714 | ) | | (13,606 | ) | | (40,904 | ) | | 279,278 | | | — | | |
|
Income (loss) before taxes | | 195,344 | | | 120,680 | | | 55,286 | | | 156,417 | | | (279,278 | ) | | 248,449 | | |
|
Provision (benefit) for taxes | | 4,920 | | | 14,537 | | | 14,390 | | | 24,178 | | | — | | | 58,025 | | |
|
Net income (loss) | | $ | 190,424 | | | $ | 106,143 | | | $ | 40,896 | | | $ | 132,239 | | | $ | (279,278 | ) | | $ | 190,424 | | |
|
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 | ) | |
|
Total Comprehensive Income (loss) | | $ | 186,964 | | | $ | 104,941 | | | $ | 40,197 | | | $ | 132,239 | | | $ | (277,377 | ) | | $ | 186,964 | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Nine Months Ended September 28, 2014 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 133,000 | | | $ | 246,800 | | | $ | 110,354 | | | $ | 884,327 | | | $ | (375,683 | ) | | $ | 998,798 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise, and games revenues | | — | | | 2,701 | | | 8,625 | | | 71,561 | | | — | | | 82,887 | | |
|
Operating expenses | | 3,908 | | | 155,169 | | | 39,622 | | | 583,175 | | | (375,683 | ) | | 406,191 | | |
|
Selling, general and administrative | | 4,170 | | | 79,408 | | | 9,841 | | | 31,807 | | | — | | | 125,226 | | |
|
Depreciation and amortization | | 34,194 | | | 269 | | | 15,187 | | | 59,875 | | | — | | | 109,525 | | |
|
Gain on sale of other assets | | — | | | — | | | — | | | (921 | ) | | — | | | (921 | ) | |
|
Loss (gain) on impairment / retirement of fixed assets, net | | 781 | | | — | | | 229 | | | 1,677 | | | — | | | 2,687 | | |
|
| | 43,053 | | | 237,547 | | | 73,504 | | | 747,174 | | | (375,683 | ) | | 725,595 | | |
|
Operating income | | 89,947 | | | 9,253 | | | 36,850 | | | 137,153 | | | — | | | 273,203 | | |
|
Interest expense (income), net | | 31,354 | | | 21,438 | | | 27,644 | | | (6,430 | ) | | — | | | 74,006 | | |
|
Net effect of swaps | | (650 | ) | | (381 | ) | | — | | | — | | | — | | | (1,031 | ) | |
|
Loss on early debt extinguishment | | — | | | — | | | 29,027 | | | — | | | — | | | 29,027 | | |
|
Unrealized / realized foreign currency gain | | — | | | — | | | 22,597 | | | — | | | — | | | 22,597 | | |
|
Other (income) expense | | 562 | | | (8,104 | ) | | 1,436 | | | 6,106 | | | — | | | — | | |
|
(Income) loss from investment in affiliates | | (72,051 | ) | | (33,249 | ) | | (21,141 | ) | | 6,399 | | | 120,042 | | | — | | |
|
Income (loss) before taxes | | 130,732 | | | 29,549 | | | (22,713 | ) | | 131,078 | | | (120,042 | ) | | 148,604 | | |
|
Provision (benefit) for taxes | | 8,468 | | | (1,186 | ) | | (16,315 | ) | | 35,373 | | | — | | | 26,340 | | |
|
Net loss | | $ | 122,264 | | | $ | 30,735 | | | $ | (6,398 | ) | | $ | 95,705 | | | $ | (120,042 | ) | | $ | 122,264 | | |
|
Other comprehensive income (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 2,279 | | | — | | | 2,279 | | | — | | | (2,279 | ) | | 2,279 | | |
|
Unrealized income (loss) on cash flow hedging derivatives | | (165 | ) | | (10 | ) | | — | | | — | | | 10 | | | (165 | ) | |
|
Other comprehensive income (loss), (net of tax) | | 2,114 | | | (10 | ) | | 2,279 | | | — | | | (2,269 | ) | | 2,114 | | |
|
Total Comprehensive Loss | | $ | 124,378 | | | $ | 30,725 | | | $ | (4,119 | ) | | $ | 95,705 | | | $ | (122,311 | ) | | $ | 124,378 | | |
|
|
|
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 (loss) | | 90,642 | | | 23,663 | | | 42,227 | | | 141,326 | | | — | | | 297,858 | | |
|
Interest expense, 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) loss from investment in affiliates | | (104,833 | ) | | (58,614 | ) | | (18,318 | ) | | (15,029 | ) | | 196,794 | | | — | | |
|
Income (loss) 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 loss | | $ | 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 (loss) on cash flow hedging derivatives | | 7,803 | | | 1,836 | | | — | | | — | | | (1,836 | ) | | 7,803 | | |
|
Other comprehensive income (loss), (net of tax) | | 8,997 | | | 1,836 | | | 1,194 | | | — | | | (3,030 | ) | | 8,997 | | |
|
Total Comprehensive Loss | | $ | 137,685 | | | $ | 55,349 | | | $ | 16,184 | | | $ | 128,291 | | | $ | (199,824 | ) | | $ | 137,685 | | |
|
|
CEDAR FAIR, L.P. |
UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME |
For the Twelve Months Ended September 28, 2014 |
(In thousands) |
| |
| | | | | | | | | | | | | | | | | | | | | | | | | |
| | Cedar Fair L.P. (Parent) | | Co-Issuer Subsidiary (Magnum) | | Co-Issuer Subsidiary (Cedar Canada) | | Guarantor Subsidiaries | | Eliminations | | Total | |
| | | | | | | | | | | | | |
Net revenues | | $ | 153,941 | | | $ | 287,282 | | | $ | 120,538 | | | $ | 1,013,346 | | | $ | (437,232 | ) | | $ | 1,137,875 | | |
|
Costs and expenses: | | | | | | | | | | | | | |
Cost of food, merchandise, and games revenues | | — | | | 2,701 | | | 8,871 | | | 81,154 | | | — | | | 92,726 | | |
|
Operating expenses | | 5,411 | | | 188,453 | | | 46,823 | | | 686,745 | | | (437,232 | ) | | 490,200 | | |
|
Selling, general and administrative | | 5,577 | | | 98,649 | | | 11,465 | | | 36,414 | | | — | | | 152,105 | | |
|
Depreciation and amortization | | 39,329 | | | 278 | | | 16,723 | | | 67,369 | | | — | | | 123,699 | | |
|
(Gain) on sale of other assets | | — | | | — | | | — | | | (921 | ) | | — | | | (921 | ) | |
|
Loss on impairment / retirement of fixed assets, net | | 801 | | | — | | | 229 | | | 1,930 | | | — | | | 2,960 | | |
|
| | 51,118 | | | 290,081 | | | 84,111 | | | 872,691 | | | (437,232 | ) | | 860,769 | | |
|
Operating income | | 102,823 | | | (2,799 | ) | | 36,427 | | | 140,655 | | | — | | | 277,106 | | |
|
Interest (income) expense, net | | 42,404 | | | 28,489 | | | 37,682 | | | (8,679 | ) | | — | | | 99,896 | | |
|
Net effect of swaps | | (1,527 | ) | | (936 | ) | | — | | | — | | | — | | | (2,463 | ) | |
|
Loss on early debt extinguishment | | — | | | — | | | 29,027 | | | — | | | — | | | 29,027 | | |
|
Unrealized / realized foreign currency loss | | — | | | — | | | 36,309 | | | — | | | — | | | 36,309 | | |
|
Other (income) expense | | 749 | | | (12,716 | ) | | 3,148 | | | 8,819 | | | — | | | — | | |
|
(Income) loss from investment in affiliates | | (50,775 | ) | | (12,155 | ) | | (20,261 | ) | | 23,905 | | | 59,286 | | | — | | |
|
Income (loss) before taxes | | 111,972 | | | (5,481 | ) | | (49,478 | ) | | 116,610 | | | (59,286 | ) | | 114,337 | | |
|
Provision (benefit) for taxes | | 10,192 | | | (10,875 | ) | | (25,575 | ) | | 38,815 | | | — | | | 12,557 | | |
|
Net income (loss) | | $ | 101,780 | | | $ | 5,394 | | | $ | (23,903 | ) | | $ | 77,795 | | | $ | (59,286 | ) | | $ | 101,780 | | |
|
Other comprehensive income, (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 3,841 | | | — | | | 3,841 | | | — | | | (3,841 | ) | | 3,841 | | |
|
Unrealized income on cash flow hedging derivatives | | 2,768 | | | 1,002 | | | — | | | — | | | (1,002 | ) | | 2,768 | | |
|
Other comprehensive income, (net of tax) | | 6,609 | | | 1,002 | | | 3,841 | | | — | | | (4,843 | ) | | 6,609 | | |
|
Total Comprehensive Income (loss) | | $ | 108,389 | | | $ | 6,396 | | | $ | (20,062 | ) | | $ | 77,795 | | | $ | (64,129 | ) | | $ | 108,389 | | |
|
|
|
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 (gain) 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 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) loss from investment in affiliates | | (95,234 | ) | | (51,316 | ) | | (18,019 | ) | | (8,239 | ) | | 172,808 | | | — | | |
|
Income 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 (loss), (net of tax): | | | | | | | | | | | | | |
Cumulative foreign currency translation adjustment | | 2,814 | | | — | | | 2,814 | | | — | | | (2,814 | ) | | 2,814 | | |
|
Unrealized income (loss) on cash flow hedging derivatives | | 9,740 | | | 2,385 | | | — | | | — | | | (2,385 | ) | | 9,740 | | |
|
Other comprehensive income (loss), (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 CASH FLOWS |
For the Nine Months Ended September 28, 2014 |
(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 | | $ | 122,796 | | | $ | 11,832 | | | $ | 14,637 | | | $ | 164,278 | | | $ | (1,824 | ) | | $ | 311,719 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Intercompany receivables receipts | | — | | | 13,794 | | | — | | | (77,332 | ) | | 63,538 | | | — | | |
|
Sale of other assets | | — | | | — | | | — | | | 1,377 | | | — | | | 1,377 | | |
|
Capital expenditures | | (55,105 | ) | | (257 | ) | | (14,394 | ) | | (67,257 | ) | | — | | | (137,013 | ) | |
|
Net cash from investing activities | | (55,105 | ) | | 13,537 | | | (14,394 | ) | | (143,212 | ) | | 63,538 | | | (135,636 | ) | |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | | |
Note borrowings | | — | | | — | | | 450,000 | | | — | | | — | | | 450,000 | | |
|
Note payments, including amounts paid for early termination | | — | | | — | | | (426,148 | ) | | — | | | — | | | (426,148 | ) | |
|
Distributions paid | | (119,292 | ) | | — | | | — | | | — | | | 1,824 | | | (117,468 | ) | |
|
Payment of debt issuance costs | | — | | | — | | | (9,795 | ) | | — | | | — | | | (9,795 | ) | |
|
Intercompany payables (payments) receipts | | 100,601 | | | (26,534 | ) | | 3,486 | | | (14,015 | ) | | (63,538 | ) | | — | | |
|
Excess tax benefit from unit-based compensation expense | | — | | | (785 | ) | | — | | | — | | | — | | | (785 | ) | |
|
Net cash (for) financing activities | | (18,691 | ) | | (27,319 | ) | | 17,543 | | | (14,015 | ) | | (61,714 | ) | | (104,196 | ) | |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | (569 | ) | | — | | | — | | | (569 | ) | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | | |
Net increase (decrease) for the period | | 49,000 | | | (1,950 | ) | | 17,217 | | | 7,051 | | | — | | | 71,318 | | |
|
Balance, beginning of period | | 75,000 | | | 4,144 | | | 35,575 | | | 3,337 | | | — | | | 118,056 | | |
|
Balance, end of period | | $ | 124,000 | | | $ | 2,194 | | | $ | 52,792 | | | $ | 10,388 | | | $ | — | | | $ | 189,374 | | |
|
| | | | | | | | | | | | | |
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 (FOR) OPERATING ACTIVITIES | | $ | 140,022 | | | $ | 40,030 | | | $ | 10,864 | | | $ | 139,212 | | | $ | (13,173 | ) | | $ | 316,955 | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | |
Intercompany receivables (payments) receipts | | — | | | 41,768 | | | — | | | (55,439 | ) | | 13,671 | | | — | |
|
Sale of other assets | | — | | | — | | | — | | | 15,297 | | | — | | | 15,297 | |
|
Capital expenditures | | (43,568 | ) | | — | | | (5,517 | ) | | (48,449 | ) | | — | | | (97,534 | ) |
|
Net cash from (for) investing activities | | (43,568 | ) | | 41,768 | | | (5,517 | ) | | (88,591 | ) | | 13,671 | | | (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 | | (14,332 | ) | | (8,028 | ) | | (452 | ) | | — | | | — | | | (22,812 | ) |
|
Term debt payments, including amounts paid for early termination | | (655,723 | ) | | (462,438 | ) | | (14,514 | ) | | — | | | — | | | (1,132,675 | ) |
|
Distributions/dividends (paid) received | | (107,013 | ) | | 2,555 | | | (13,173 | ) | | — | | | 13,173 | | | (104,458 | ) |
|
Intercompany payables (payments) receipts | | 134,695 | | | (73,536 | ) | | (5,656 | ) | | (41,832 | ) | | (13,671 | ) | | — | |
|
Exercise of limited partnership unit options | | — | | | 43 | | | — | | | — | | | — | | | 43 | |
|
Excess tax benefit from unit-based compensation expense | | — | | | (148 | ) | | — | | | — | | | — | | | (148 | ) |
|
Net cash (for) financing activities | | 11,546 | | | (79,949 | ) | | (19,317 | ) | | (41,832 | ) | | (498 | ) | | (130,050 | ) |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | (16 | ) | | — | | | — | | | (16 | ) |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | |
Net increase 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 Twelve Months Ended September 28, 2014 |
(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 | | $ | 145,424 | | | $ | (4,845 | ) | | $ | 16,902 | | | $ | 163,482 | | | $ | (2,966 | ) | | $ | 317,997 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Intercompany receivables (payments) receipts | | — | | | 16,049 | | | — | | | (77,029 | ) | | 60,980 | | | — | | |
|
Sale of other assets | | — | | | — | | | — | | | 1,377 | | | — | | | 1,377 | | |
|
Capital expenditures | | (67,790 | ) | | (257 | ) | | (18,851 | ) | | (73,174 | ) | | — | | | (160,072 | ) | |
|
Net cash (for) investing activities | | (67,790 | ) | | 15,792 | | | (18,851 | ) | | (148,826 | ) | | 60,980 | | | (158,695 | ) | |
|
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | | | | | | | | | | | | | |
Note borrowings | | — | | | — | | | 450,000 | | | — | | | — | | | 450,000 | | |
|
Term debt payments, including amounts paid for early termination | | (5,457 | ) | | (3,898 | ) | | (220 | ) | | — | | | — | | | (9,575 | ) | |
|
Note payments, including amounts paid for early termination | | — | | | — | | | (426,148 | ) | | — | | | — | | | (426,148 | ) | |
|
Distributions paid | | (159,433 | ) | | — | | | — | | | — | | | 2,966 | | | (156,467 | ) | |
|
Intercompany payables (payments) receipts | | 78,459 | | | (7,234 | ) | | 6,025 | | | (16,270 | ) | | (60,980 | ) | | — | | |
|
Excess tax benefit from unit-based compensation expense | | — | | | 218 | | | — | | | — | | | — | | | 218 | | |
|
Payment of debt issuance costs | | (203 | ) | | (142 | ) | | (9,887 | ) | | — | | | — | | | (10,232 | ) | |
|
Exercise of limited partnership unit options | | — | | | 10 | | | — | | | — | | | — | | | 10 | | |
|
Net cash (for) financing activities | | (86,634 | ) | | (11,046 | ) | | 19,770 | | | (16,270 | ) | | (58,014 | ) | | (152,194 | ) | |
|
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | — | | | — | | | (1,216 | ) | | — | | | — | | | (1,216 | ) | |
|
CASH AND CASH EQUIVALENTS | | | | | | | | | | | | | |
Net increase (decrease) for the period | | (9,000 | ) | | (99 | ) | | 16,605 | | | (1,614 | ) | | — | | | 5,892 | | |
|
Balance, beginning of period | | 133,000 | | | 2,293 | | | 36,187 | | | 12,002 | | | — | | | 183,482 | | |
|
Balance, end of period | | $ | 124,000 | | | $ | 2,194 | | | $ | 52,792 | | | $ | 10,388 | | | $ | — | | | $ | 189,374 | | |
|
| | | | | | | | | | | | | |
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 (FOR) OPERATING ACTIVITIES | | $ | 212,330 | | | $ | (34,618 | ) | | $ | 19,455 | | | $ | 140,854 | | | $ | (13,173 | ) | | $ | 324,848 | | |
|
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES | | | | | | | | | | | | | |
Intercompany receivables payments | | — | | | 46,143 | | | — | | | (60,099 | ) | | 13,956 | | | — | | |
|
Sale of other assets | | — | | | — | | | — | | | 30,182 | | | — | | | 30,182 | | |
|
Capital expenditures | | (47,938 | ) | | (1 | ) | | (5,532 | ) | | (63,290 | ) | | — | | | (116,761 | ) | |
|
Net cash from (for) investing activities | | (47,938 | ) | | 46,142 | | | (5,532 | ) | | (93,207 | ) | | 13,956 | | | (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 amounts paid for early termination | | (655,723 | ) | | (462,438 | ) | | (14,514 | ) | | — | | | — | | | (1,132,675 | ) | |
|
Distributions/dividends (paid) received | | (129,277 | ) | | 2,571 | | | (13,173 | ) | | — | | | 13,173 | | | (126,706 | ) | |
|
Intercompany payables (payments) receipts | | 71,020 | | | (6,760 | ) | | (4,098 | ) | | (46,206 | ) | | (13,956 | ) | | — | | |
|
Payment of debt issuance costs | | (14,331 | ) | | (8,028 | ) | | (453 | ) | | — | | | — | | | (22,812 | ) | |
|
Exercise of limited partnership unit options | | — | | | 43 | | | — | | | — | | | — | | | 43 | | |
|
Excess tax benefit from unit-based compensation | | — | | | 1,515 | | | — | | | — | | | — | | | 1,515 | | |
|
Net cash from (for) financing activities | | (74,392 | ) | | (11,494 | ) | | (17,760 | ) | | (46,206 | ) | | (783 | ) | | (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 | | |
|
| | | | | | | | | | | | | | | | | | | | | | | | | | |