EXHIBIT 99
DEAN HOLDING COMPANY
CONSOLIDATED BALANCE SHEET INFORMATION
(Unaudited)
(In thousands)
March 31, 2016 | |||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ | 15,151 | |
Receivables, net | 263,621 | ||
Inventories | 132,899 | ||
Deferred income taxes | 13,377 | ||
Prepaid expenses and other current assets | 20,928 | ||
Total current assets | 445,976 | ||
Property, plant and equipment, net | 487,821 | ||
Goodwill | 44,057 | ||
Identifiable intangible and other assets, net | 66,677 | ||
Total | $ | 1,044,531 | |
Liabilities and Parent’s Net Investment | |||
Current liabilities: | |||
Accounts payable and accrued expenses | $ | 203,275 | |
Total current liabilities | 203,275 | ||
Long-term debt | 137,821 | ||
Deferred income taxes | 83,242 | ||
Other long-term liabilities | 43,408 | ||
Parent’s net investment: | |||
Parent’s net investment | 579,480 | ||
Accumulated other comprehensive loss | (2,695 | ) | |
Total parent’s net investment | 576,785 | ||
Total | $ | 1,044,531 |
DEAN HOLDING COMPANY
CONSOLIDATED OPERATING INFORMATION
(Unaudited)
(In thousands)
Three Months Ended March 31, 2016 | |||
Net sales | $ | 865,699 | |
Cost of sales | 635,351 | ||
Gross profit | 230,348 | ||
Operating costs and expenses: | |||
Selling and distribution | 144,587 | ||
General and administrative | 17,675 | ||
Amortization of intangibles | 4,394 | ||
Restructuring and non-recurring costs, net | (4,689 | ) | |
Total operating costs and expenses | 161,967 | ||
Operating income | 68,381 | ||
Other expense: | |||
Interest expense | 3,052 | ||
Other expense, net | 34,253 | ||
Total other expense | 37,305 | ||
Income before income taxes | 31,076 | ||
Income taxes | 10,880 | ||
Net income | 20,196 | ||
Other comprehensive income, net of tax | 182 | ||
Comprehensive income | $ | 20,378 |
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