EXHIBIT 99
DEAN HOLDING COMPANY
CONSOLIDATED BALANCE SHEET INFORMATION
(Unaudited)
(In thousands)
March 31, 2014 | |||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ | 13,433 | |
Receivables, net | 352,244 | ||
Income taxes receivable | 6,352 | ||
Inventories | 137,643 | ||
Deferred income taxes | 13,456 | ||
Prepaid expenses and other current assets | 10,246 | ||
Total current assets | 533,374 | ||
Property, plant and equipment, net | 502,958 | ||
Goodwill | 44,058 | ||
Identifiable intangible and other assets, net | 177,499 | ||
Total | $ | 1,257,889 | |
Liabilities and Parent’s Net Investment | |||
Current liabilities: | |||
Accounts payable and accrued expenses | $ | 279,838 | |
Total current liabilities | 279,838 | ||
Long-term debt | 133,316 | ||
Deferred income taxes | 100,003 | ||
Other long-term liabilities | 58,753 | ||
Parent’s net investment: | |||
Parent’s net investment | 688,750 | ||
Accumulated other comprehensive loss | (2,771 | ) | |
Total parent’s net investment | 685,979 | ||
Total | $ | 1,257,889 | |
DEAN HOLDING COMPANY
CONSOLIDATED OPERATING INFORMATION
(Unaudited)
(In thousands)
Three Months Ended March 31, 2014 | |||
Net sales | $ | 1,110,742 | |
Cost of sales | 917,875 | ||
Gross profit | 192,867 | ||
Operating costs and expenses: | |||
Selling and distribution | 154,299 | ||
General and administrative | 14,901 | ||
Amortization of intangibles | 408 | ||
Restructuring and non-recurring costs | 1,265 | ||
Total operating costs and expenses | 170,873 | ||
Operating income | 21,994 | ||
Other expense: | |||
Interest expense | 2,947 | ||
Other expense, net | 23,564 | ||
Total other expense | 26,511 | ||
Loss from continuing operations before income taxes | (4,517 | ) | |
Income taxes | (1,231 | ) | |
Net loss | (3,286 | ) | |
Other comprehensive loss, net of tax | (585 | ) | |
Comprehensive loss | $ | (3,871 | ) |
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