EXHIBIT 99
DEAN HOLDING COMPANY
CONSOLIDATED BALANCE SHEET INFORMATION
(Unaudited)
(In thousands)
March 31, 2011 | ||||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 11,478 | ||
Receivables, net | 310,711 | |||
Inventories, net | 126,289 | |||
Deferred income taxes | 24,061 | |||
Prepaid expenses and other current assets | 7,766 | |||
Total current assets | 480,305 | |||
Property, plant and equipment, net | 533,052 | |||
Goodwill | 1,099,682 | |||
Identifiable intangible and other assets, net | 188,798 | |||
Total | $ | 2,301,837 | ||
Liabilities and Parent’s Net Investment | ||||
Current liabilities: | ||||
Accounts payable and accrued expenses | $ | 215,230 | ||
Current portion of debt | 11 | |||
Total current liabilities | 215,241 | |||
Long-term debt | 127,903 | |||
Deferred income taxes | 200,976 | |||
Other long-term liabilities | 24,211 | |||
Parent’s net investment: | ||||
Parent’s net investment | 1,735,968 | |||
Accumulated other comprehensive loss | (2,462 | ) | ||
Total parent’s net investment | 1,733,506 | |||
Total | $ | 2,301,837 | ||
DEAN HOLDING COMPANY
CONSOLIDATED OPERATING INFORMATION
(Unaudited)
(In thousands)
Three Months Ended March 31, 2011 | ||||
Net sales | $ | 969,853 | ||
Cost of sales | 745,221 | |||
Gross profit | 224,632 | |||
Operating costs and expenses: | ||||
Selling and distribution | 153,605 | |||
General and administrative | 14,056 | |||
Amortization of intangibles | 547 | |||
Facility closing and reorganization costs | 222 | |||
Total operating costs and expenses | 168,430 | |||
Operating income | 56,202 | |||
Other expense: | ||||
Interest expense | 2,838 | |||
Other expense, net | 20,374 | |||
Total other expense | 23,212 | |||
Income from continuing operations before income taxes | 32,990 | |||
Income taxes | 13,837 | |||
Net income | $ | 19,153 | ||