Exhibit 99.1
CHS Inc.
Summarized results of previously reported and restated Consolidated Statements of Cash Flows for the years ended August 31, 2005 and 2004 are as follows:
2005 | 2004 | |||||||||||||||||||||||
As | As | |||||||||||||||||||||||
Previously | As | Previously | As | |||||||||||||||||||||
Dollars in thousands | Reported | Restated | Reported | Restated | ||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||
Distributions from equity investments | $ | 64,869 | $ | 58,702 | ||||||||||||||||||||
Net cash provided by operating activities | $ | 209,188 | 276,531 | $ | 333,289 | 394,345 | ||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Equity investments redeemed | 74,231 | 65,158 | ||||||||||||||||||||||
Investments redeemed | 4,152 | 13,514 | 9,481 | 15,937 | ||||||||||||||||||||
Distributions to minority owners | (29,925 | ) | (15,908 | ) | ||||||||||||||||||||
Net cash used in investing activities | (56,958 | ) | (91,902 | ) | (181,284 | ) | (224,078 | ) | ||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Distributions to minority owners | (29,925 | ) | (15,908 | ) | ||||||||||||||||||||
Net cash used in financing activities | (47,703 | ) | (80,102 | ) | (183,763 | ) | (202,025 | ) | ||||||||||||||||
Net increase (decrease) in cash and cash equivalents | 104,527 | 104,527 | (31,758 | ) | (31,758 | ) | ||||||||||||||||||
Cash and cash equivalents at beginning of year | 136,491 | 136,491 | 168,249 | 168,249 | ||||||||||||||||||||
Cash and cash equivalents at end of year | 241,018 | 241,018 | 136,491 | 136,491 |
Summarized results of previously reported and restated Consolidated Statements of Cash Flows for the three months ended November 30, 2005 and 2004 are as follows:
2005 | 2004 | |||||||||||||||||||||||
As | As | |||||||||||||||||||||||
Previously | As | Previously | As | |||||||||||||||||||||
Dollars in thousands | Reported | Restated | Reported | Restated | ||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||
Distributions from equity investments | $ | 3,532 | $ | 2,520 | ||||||||||||||||||||
Net cash provided by operating activities | $ | 160,154 | 163,686 | $ | 78,408 | 80,928 | ||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Equity investments redeemed | 3,532 | 22,520 | ||||||||||||||||||||||
Investments redeemed | 1,175 | 1,175 | 983 | 20,983 | ||||||||||||||||||||
Distributions to minority owners | (11,677 | ) | (3,060 | ) | ||||||||||||||||||||
Net cash used in investing activities | (94,297 | ) | (86,152 | ) | (35,776 | ) | (35,236 | ) | ||||||||||||||||
Cash flows from financing activities: | ||||||||||||||||||||||||
Distributions to minority owners | (11,677 | ) | (3,060 | ) | ||||||||||||||||||||
Net cash used in financing activities | (62,119 | ) | (73,796 | ) | (12,276 | ) | (15,336 | ) | ||||||||||||||||
Net increase in cash and cash equivalents | 3,738 | 3,738 | 30,356 | 30,356 | ||||||||||||||||||||
Cash and cash equivalents at beginning of period | 241,018 | 241,018 | 136,491 | 136,491 | ||||||||||||||||||||
Cash and cash equivalents at end of period | 244,756 | 244,756 | 166,847 | 166,847 |
Summarized results of previously reported and restated Consolidated Statements of Cash Flows for the six months ended February 28, 2006 and 2005 are as follows:
2006 | 2005 | |||||||||||||||||||||||
As | As | |||||||||||||||||||||||
Previously | As | Previously | As | |||||||||||||||||||||
Dollars in thousands | Reported | Restated | Reported | Restated | ||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||
Distributions from equity investments | $ | 11,946 | $ | 24,870 | ||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 27,175 | 39,121 | $ | (144,837 | ) | (119,967 | ) | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Equity investments redeemed | 40,846 | 36,945 | ||||||||||||||||||||||
Investments redeemed | 3,218 | 32,118 | 2,093 | 14,168 | ||||||||||||||||||||
Net cash used in investing activities | (51,615 | ) | (63,561 | ) | (60,195 | ) | (85,065 | ) | ||||||||||||||||
Net cash (used in) provided by financing activities | (136,835 | ) | (136,835 | ) | 262,074 | 262,074 | ||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (161,275 | ) | (161,,275 | ) | 57,042 | 57,042 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | 241,018 | 241,018 | 136,491 | 136,491 | ||||||||||||||||||||
Cash and cash equivalents at end of period | 79,743 | 79,743 | 193,533 | 193,533 |
Summarized results of previously reported and restated Consolidated Statements of Cash Flows for the nine months ended May 31, 2006 and 2005 are as follows:
2006 | 2005 | |||||||||||||||||||||||
As | As | |||||||||||||||||||||||
Previously | As | Previously | As | |||||||||||||||||||||
Dollars in thousands | Reported | Restated | Reported | Restated | ||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||
Distributions from equity investments | $ | 53,340 | $ | 52,602 | ||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | 227,026 | 280,366 | $ | (95,495 | ) | (42,893 | ) | ||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||
Equity investments redeemed | 53,340 | 52,602 | ||||||||||||||||||||||
Investments redeemed | 4,155 | 4,155 | 3,114 | 3,114 | ||||||||||||||||||||
Net cash used in investing activities | (174,995 | ) | (228,335 | ) | (110,167 | ) | (162,769 | ) | ||||||||||||||||
Net cash (used in) provided by financing activities | (156,122 | ) | (156,122 | ) | 303,640 | 303,640 | ||||||||||||||||||
Net (decrease) increase in cash and cash equivalents | (104,091 | ) | (104,,091 | ) | 97,978 | 97,978 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | 241,018 | 241,018 | 136,491 | 136,491 | ||||||||||||||||||||
Cash and cash equivalents at end of period | 136,927 | 136,927 | 234,469 | 234,469 |