EXHIBIT 99
DEAN HOLDING COMPANY
CONSOLIDATED BALANCE SHEET INFORMATION
(Unaudited)
(In thousands)
September 30, 2011 | ||||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 10,303 | ||
Receivables, net | 335,335 | |||
Inventories, net | 128,307 | |||
Deferred income taxes | 26,135 | |||
Prepaid expenses and other current assets | 6,568 | |||
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Total current assets | 506,648 | |||
Property, plant and equipment, net | 520,044 | |||
Goodwill | 122,682 | |||
Identifiable intangible and other assets, net | 186,699 | |||
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Total | $ | 1,336,073 | ||
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Liabilities and Parent’s Net Investment | ||||
Current liabilities: | ||||
Accounts payable and accrued expenses | $ | 256,462 | ||
Current portion of debt | 11 | |||
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Total current liabilities | 256,473 | |||
Long-term debt | 273,929 | |||
Deferred income taxes | 119,314 | |||
Other long-term liabilities | 39,462 | |||
Parent’s net investment: | ||||
Parent’s net investment | 650,417 | |||
Accumulated other comprehensive loss | (3,522 | ) | ||
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Total parent’s net investment | 646,895 | |||
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Total | $ | 1,336,073 | ||
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DEAN HOLDING COMPANY
CONSOLIDATED OPERATING INFORMATION
(Unaudited)
(In thousands)
Nine Months Ended September 30, 2011 | ||||
Net sales | $ | 3,148,708 | ||
Cost of sales | 2,477,692 | |||
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Gross profit | 671,016 | |||
Operating costs and expenses: | ||||
Selling and distribution | 474,871 | |||
General and administrative | 57,285 | |||
Amortization of intangibles | 1,569 | |||
Facility closing and reorganization costs | 674 | |||
Goodwill impairment | 977,000 | |||
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Total operating costs and expenses | 1,511,399 | |||
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Operating loss | (840,383 | ) | ||
Other expense: | ||||
Interest expense | 8,309 | |||
Other expense, net | 61,552 | |||
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Total other expense | 69,861 | |||
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Loss before income taxes | (910,244 | ) | ||
Income tax benefit | (57,988 | ) | ||
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Net loss | $ | (852,256 | ) | |
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