Trump Entertainment Resorts Funding Inactive
Filed: 21 May 09, 12:00am
TCI 2 HOLDINGS, LLC et al. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD FROM FEBRUARY 17, 2009 THROUGH APRIL 30, 2009 FORM MOR-1 (Unaudited) |
| Case No. 09-13654 (JHW) | |||||||||||||||||||||||||||
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(in thousands) |
| Issuer |
| Guarantors |
| Non-Guarantors |
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| Consolidated |
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| TER Holdings |
| Taj Mahal |
| Taj Admin | Plaza |
| Marina |
| RJE's & Elims |
| Total Guar |
| TER Dev. |
| RJE's & Elims |
| Total NonGuar |
| Elims |
| TER Holdings |
| TER Inc. |
| TER Inc. Elims |
| Consolidated TER, Inc. |
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Cash flow from Operating Activities |
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Net loss |
| $(25,312) |
| $(15,798) |
| $- | $(12,514) |
| $(1,475) |
| $- |
| $(29,787) |
| $(157) |
| $- |
| $(157) |
| $- |
| $(55,256) |
| $12,987 |
| $- |
| $(42,269) |
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| - |
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| - |
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| - |
Record equity in subsidiaries |
| (29,944) |
| - |
| - | - |
| - |
| 29,944 |
| 29,944 |
| - |
| - |
| - |
| - |
| - |
| (55,256) |
| 55,256 |
| - |
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Net loss as adjusted |
| (55,256) |
| (15,798) |
| - | (12,514) |
| (1,475) |
| 29,944 |
| 157 |
| (157) |
| - |
| (157) |
| - |
| (55,256) |
| (42,269) |
| 55,256 |
| (42,269) |
Adjustments to reconcile net loss to net |
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cash provided by operating activities |
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Equity in earning of subsidiaries |
| 29,944 |
| - |
| - | - |
| - |
| (29,944) |
| (29,944) |
| - |
| - |
| - |
| - |
| - |
| 55,256 |
| (55,256) |
| - |
Non-cash interest accretion on property tax settlement |
| - |
| (21) |
| - | (128) |
| (14) |
| - |
| (163) |
| - |
| - |
| - |
| - |
| (163) |
| - |
| - |
| (163) |
Deferred income taxes |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Minority Interest |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (12,984) |
| - |
| (12,984) |
Depreciation |
| 26 |
| 8,178 |
| - | 3,075 |
| 151 |
| - |
| 11,404 |
| - |
| - |
| - |
| - |
| 11,430 |
| - |
| - |
| 11,430 |
Amortization |
| - |
| 203 |
| - | 1 |
| - |
| - |
| 204 |
| - |
| - |
| - |
| - |
| 204 |
| - |
| - |
| 204 |
Amortization of deferred financing costs |
| 62 |
| 26 |
| - | 13 |
| - |
| - |
| 39 |
| - |
| - |
| - |
| - |
| 101 |
| - |
| - |
| 101 |
Provisions for losses on receivables |
| - |
| 1,607 |
| - | 456 |
| 573 |
| - |
| 2,636 |
| - |
| - |
| - |
| - |
| 2,636 |
| - |
| - |
| 2,636 |
Stock based compensation expense |
| 270 |
| 10 |
| 20 | 12 |
| - |
| - |
| 42 |
| - |
| - |
| - |
| - |
| 312 |
| - |
| - |
| 312 |
Non-cash reorganization expense |
| 7,581 |
| 4,567 |
| - | 2,284 |
| - |
| - |
| 6,851 |
| - |
| - |
| - |
| - |
| 14,432 |
| - |
| - |
| 14,432 |
Valuation Allowance CRDA |
| - |
| (512) |
| - | (446) |
| (50) |
| - |
| (1,008) |
| - |
| - |
| - |
| - |
| (1,008) |
| - |
| - |
| (1,008) |
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Change in operating assets & liabilities: |
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Accounts receivable |
| (40) |
| (2,416) |
| 1 | 178 |
| 17 |
| - |
| (2,220) |
| - |
| - |
| - |
| - |
| (2,260) |
| - |
| - |
| (2,260) |
Inventories |
| - |
| (269) |
| (30) | 37 |
| 49 |
| - |
| (213) |
| - |
| - |
| - |
| - |
| (213) |
| - |
| - |
| (213) |
Other current assets |
| 667 |
| 3,615 |
| 121 | 2,615 |
| 2,140 |
| - |
| 8,491 |
| - |
| - |
| - |
| - |
| 9,158 |
| - |
| - |
| 9,158 |
Other assets |
| 7 |
| 367 |
| 185 | (261) |
| 526 |
| - |
| 817 |
| - |
| - |
| - |
| - |
| 824 |
| - |
| - |
| 824 |
Due to Affiliates |
| 13,816 |
| (12,868) |
| (1,483) | 1,152 |
| (617) |
| - |
| (13,816) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Accounts payable, accrued expenses and other liabilities |
| 1,804 |
| 3,684 |
| (257) | (1,490) |
| (342) |
| - |
| 1,595 |
| (80) |
| - |
| (80) |
| - |
| 3,319 |
| - |
| - |
| 3,319 |
Accrued interest |
| 5,735 |
| 14,217 |
| - | 1,043 |
| 108 |
| - |
| 15,368 |
| - |
| - |
| - |
| - |
| 21,103 |
| - |
| - |
| 21,103 |
Other long-term liabilities |
| (2) |
| - |
| - | (138) |
| - |
| - |
| (138) |
| - |
| - |
| - |
| - |
| (140) |
| - |
| - |
| (140) |
Net cash provided(used) by operating activities |
| 4,614 |
| 4,590 |
| (1,443) | (4,111) |
| 1,066 |
| - |
| 102 |
| (237) |
| - |
| (237) |
| - |
| 4,479 |
| 3 |
| - |
| 4,482 |
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Cash flow from Investing Activities |
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Purchases of PPE |
| 4 |
| (7,128) |
| (60) | (341) |
| (150) |
| - |
| (7,679) |
| - |
| - |
| - |
| - |
| (7,675) |
| - |
| - |
| (7,675) |
Decrease in Restricted Cash |
| 200 |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 200 |
| - |
| - |
| 200 |
Purchases of CRDA investments |
| - |
| (1,479) |
| - | (148) |
| (521) |
| - |
| (2,148) |
| - |
| - |
| - |
| - |
| (2,148) |
| - |
| - |
| (2,148) |
Proceeds from CRDA investments |
| - |
| 2,643 |
| - | 1,793 |
| 564 |
| - |
| 5,000 |
| - |
| - |
| - |
| - |
| 5,000 |
| - |
| - |
| 5,000 |
Net cash provided(used) by investing activities |
| 204 |
| (5,964) |
| (60) | 1,304 |
| (107) |
| - |
| (4,827) |
| - |
| - |
| - |
| - |
| (4,623) |
| - |
| - |
| (4,623) |
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Cash flows from Financing Activities |
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Repayment of term loan |
| (1,232) |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (1,232) |
| - |
| - |
| (1,232) |
Borrowing (Repayment) - I/C Debt |
| 6,790 |
| - |
| - | (1,957) |
| (4,833) |
| - |
| (6,790) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Repayment of other long-term debt |
| - |
| (52) |
| - | - |
| - |
| - |
| (52) |
| - |
| - |
| - |
| - |
| (52) |
| - |
| - |
| (52) |
Contributions from Parent |
| (237) |
| - |
| - | - |
| - |
| - |
| - |
| 237 |
| - |
| 237 |
| - |
| - |
| - |
| - |
| - |
Net cash provided(used) by financing activities |
| 5,321 |
| (52) |
| - | (1,957) |
| (4,833) |
| - |
| (6,842) |
| 237 |
| - |
| 237 |
| - |
| (1,284) |
| - |
| - |
| (1,284) |
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Net increase(decrease) in cash and cash equivalents |
| 10,139 |
| (1,426) |
| (1,503) | (4,764) |
| (3,874) |
| - |
| (11,567) |
| - |
| - |
| - |
| - |
| (1,428) |
| 3 |
| - |
| (1,425) |
Cash and cash equivalents at beginning of period |
| 8,504 |
| 31,172 |
| (5,085) | 20,074 |
| 15,512 |
| - |
| 61,673 |
| - |
| - |
| - |
| - |
| 70,177 |
| 979 |
| - |
| 71,156 |
Cash and cash equivalents at end of period |
| $18,643 |
| $29,746 |
| $(6,588) | $15,310 |
| $11,638 |
| $- |
| $50,106 |
| $- |
| $- |
| $- |
| $- |
| $68,749 |
| $982 |
| $- |
| $69,731 |
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TCI 2 HOLDINGS, LLC et al. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD FROM APRIL 1, 2009 THROUGH APRIL 30, 2009 FORM MOR-1 (Unaudited) |
| Case No. 09-13654 (JHW) | |||||||||||||||||||||||||||
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(in thousands) |
| Issuer |
| Guarantors |
| Non-Guarantors |
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| Consolidated |
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| TER Holdings |
| Taj Mahal |
| Taj Admin | Plaza |
| Marina |
| RJE's & Elims |
| Total Guar |
| TER Dev. |
| RJE's & Elims |
| Total NonGuar |
| Elims |
| TER Holdings |
| TER Inc. |
| TER Inc. Elims |
| Consolidated TER, Inc. |
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Cash flow from Operating Activities |
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Net loss |
| $(7,060) |
| $(6,338) |
| $- | $(2,843) |
| $(149) |
| $- |
| $(9,330) |
| $(80) |
| $- |
| $(80) |
| $- |
| $(16,470) |
| $3,871 |
| $- |
| $(12,599) |
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| - |
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| - |
Record equity in subsidiaries |
| (9,410) |
| - |
| - | - |
| - |
| 9,410 |
| 9,410 |
| - |
| - |
| - |
| - |
| - |
| (16,470) |
| 16,470 |
| - |
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Net loss as adjusted |
| (16,470) |
| (6,338) |
| - | (2,843) |
| (149) |
| 9,410 |
| 80 |
| (80) |
| - |
| (80) |
| - |
| (16,470) |
| (12,599) |
| 16,470 |
| (12,599) |
Adjustments to reconcile net loss to net |
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cash provided by operating activities |
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Equity in earning of subsidiaries |
| 9,410 |
| - |
| - | - |
| - |
| (9,410) |
| (9,410) |
| - |
| - |
| - |
| - |
| - |
| 16,470 |
| (16,470) |
| - |
Non-cash interest accretion on property tax settlement |
| - |
| (9) |
| - | (52) |
| (6) |
| - |
| (67) |
| - |
| - |
| - |
| - |
| (67) |
| - |
| - |
| (67) |
Deferred income taxes |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Minority Interest |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (3,870) |
| - |
| (3,870) |
Depreciation |
| 15 |
| 3,354 |
| - | 1,258 |
| 62 |
| - |
| 4,674 |
| - |
| - |
| - |
| - |
| 4,689 |
| - |
| - |
| 4,689 |
Amortization |
| - |
| 84 |
| - | - |
| - |
| - |
| 84 |
| - |
| - |
| - |
| - |
| 84 |
| - |
| - |
| 84 |
Amortization of deferred financing costs |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Provisions for losses on receivables |
| - |
| 490 |
| - | 119 |
| 150 |
| - |
| 759 |
| - |
| - |
| - |
| - |
| 759 |
| - |
| - |
| 759 |
Stock based compensation expense |
| 97 |
| 5 |
| 6 | 4 |
| - |
| - |
| 15 |
| - |
| - |
| - |
| - |
| 112 |
| - |
| - |
| 112 |
Non-cash reorganization expense |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Valuation Allowance CRDA |
| - |
| (745) |
| - | (524) |
| (132) |
| - |
| (1,401) |
| - |
| - |
| - |
| - |
| (1,401) |
| - |
| - |
| (1,401) |
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Change in operating assets & liabilities: |
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Accounts receivable |
| (41) |
| 607 |
| 2 | (95) |
| (175) |
| - |
| 339 |
| - |
| - |
| - |
| - |
| 298 |
| - |
| - |
| 298 |
Inventories |
| - |
| (415) |
| (59) | (86) |
| 29 |
| - |
| (531) |
| - |
| - |
| - |
| - |
| (531) |
| - |
| - |
| (531) |
Other current assets |
| 277 |
| 192 |
| 5 | 434 |
| 300 |
| - |
| 931 |
| - |
| - |
| - |
| - |
| 1,208 |
| - |
| - |
| 1,208 |
Other assets |
| (30) |
| 1,226 |
| 1 | (61) |
| 726 |
| - |
| 1,892 |
| - |
| - |
| - |
| - |
| 1,862 |
| - |
| - |
| 1,862 |
Due to Affiliates |
| 6,987 |
| (2,775) |
| (6,360) | 2,086 |
| 62 |
| - |
| (6,987) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Accounts payable, accrued expenses and other liabilities |
| 1,485 |
| (1,984) |
| (43) | (746) |
| (1,343) |
| - |
| (4,116) |
| (158) |
| - |
| (158) |
| - |
| (2,789) |
| - |
| - |
| (2,789) |
Accrued interest |
| 6,370 |
| 5,852 |
| - | 511 |
| 45 |
| - |
| 6,408 |
| - |
| - |
| - |
| - |
| 12,778 |
| - |
| - |
| 12,778 |
Other long-term liabilities |
| (2) |
| - |
| - | (57) |
| - |
| - |
| (57) |
| - |
| - |
| - |
| - |
| (59) |
| - |
| - |
| (59) |
Net cash provided(used) by operating activities |
| 8,098 |
| (456) |
| (6,448) | (52) |
| (431) |
| - |
| (7,387) |
| (238) |
| - |
| (238) |
| - |
| 473 |
| 1 |
| - |
| 474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flow from Investing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of PPE |
| (1) |
| (3,902) |
| (22) | (216) |
| 144 |
| - |
| (3,996) |
| - |
| - |
| - |
| - |
| (3,997) |
| - |
| - |
| (3,997) |
Decrease in Restricted Cash |
| - |
| - |
| - | - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Purchases of CRDA investments |
| - |
| (1,479) |
| - | (148) |
| (521) |
| - |
| (2,148) |
| - |
| - |
| - |
| - |
| (2,148) |
| - |
| - |
| (2,148) |
Proceeds from CRDA investments |
| - |
| 2,643 |
| - | 1,793 |
| 564 |
| - |
| 5,000 |
| - |
| - |
| - |
| - |
| 5,000 |
| - |
| - |
| 5,000 |
Net cash provided(used) by investing activities |
| (1) |
| (2,738) |
| (22) | 1,429 |
| 187 |
| - |
| (1,144) |
| - |
| - |
| - |
| - |
| (1,145) |
| - |
| - |
| (1,145) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Borrowing (Repayment) - I/C Debt |
| (254) |
| - |
| - | - |
| 254 |
| - |
| 254 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
Repayment of other long-term debt |
| - |
| (37) |
| - | - |
| - |
| - |
| (37) |
| - |
| - |
| - |
| - |
| (37) |
| - |
| - |
| (37) |
Contributions from Parent |
| (238) |
| - |
| - | - |
| - |
| - |
| - |
| 238 |
| - |
| 238 |
| - |
| - |
| - |
| - |
| - |
Net cash provided(used) by financing activities |
| (492) |
| (37) |
| - | - |
| 254 |
| - |
| 217 |
| 238 |
| - |
| 238 |
| - |
| (37) |
| - |
| - |
| (37) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase(decrease) in cash and cash equivalents |
| 7,605 |
| (3,231) |
| (6,470) | 1,377 |
| 10 |
| - |
| (8,314) |
| - |
| - |
| - |
| - |
| (709) |
| 1 |
| - |
| (708) |
Cash and cash equivalents at beginning of period |
| 11,038 |
| 32,977 |
| (118) | 13,933 |
| 11,628 |
| - |
| 58,420 |
| - |
| - |
| - |
| - |
| 69,458 |
| 981 |
| - |
| 70,439 |
Cash and cash equivalents at end of period |
| $18,643 |
| $29,746 |
| $(6,588) | $15,310 |
| $11,638 |
| $- |
| $50,106 |
| $- |
| $- |
| $- |
| $- |
| $68,749 |
| $982 |
| $- |
| $69,731 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Disbursements(in whole dollars) |
| $1,405,819 |
| $47,386,000 |
| - | $14,528,593 |
| $11,103,855 |
|
|
| $74,424,267 |
| $0 |
|
|
|
|
|
|
| $74,424,267 |
| $0 |
|
|
| $74,424,267 |
**Subsequent to filing the March 2009 MOR, TER Holdings recorded a non-cash charge related to unamortized deferred financing costs of $4,922. Of this charge, $1,157 was attributed to noncontrolling interests at TER, Inc.
TCI 2 HOLDINGS et al |
Consolidating Statement of Operations |
For the Month Ended April 30, 2009 |
MOR-2Case # 09-13654 (JHW) |
(Unaudited) |
(Dollars in Thousands) | TRUMP TAJ MAHAL | TRUMP PLAZA | TRUMP MARINA | TER FUNDING | TER DEVELOP | TER HOLDINGS LP | TERH ELIMINATION | TERH CONSOLIDATED | TER INC | TER INC ELIMINATION | TER INC CONSOLIDATED |
| |||||||||||
REVENUES |
|
|
|
|
|
|
|
|
|
|
|
TABLE GAMES REVENUE | $8,845 | $5,523 | $3,052 | $0 | $0 | $0 | $0 | $17,420 | $0 | $0 | $17,420 |
SLOT REVENUE | 21,548 | 11,928 | 10,370 | 0 | 0 | 0 | 0 | 43,846 | 0 | 0 | 43,846 |
POKER REVENUE | 1,492 | 0 | 0 | 0 | 0 | 0 | 0 | 1,492 | 0 | 0 | 1,492 |
KENO WIN | 16 | 0 | 0 | 0 | 0 | 0 | 0 | 16 | 0 | 0 | 16 |
SIMULCAST REVENUE | 60 | 0 | 0 | 0 | 0 | 0 | 0 | 60 | 0 | 0 | 60 |
TOTAL GAMING REVENUE | 31,961 | 17,451 | 13,422 | 0 | 0 | 0 | 0 | 62,834 | 0 | 0 | 62,834 |
|
|
|
|
|
|
|
|
|
|
|
|
ROOMS | 3,963 | 1,744 | 1,280 | 0 | 0 | 0 | 0 | 6,987 | 0 | 0 | 6,987 |
FOOD & BEVERAGE | 4,578 | 1,737 | 1,411 | 0 | 0 | 0 | 0 | 7,726 | 0 | 0 | 7,726 |
ENTERTAINMENT | 279 | 52 | 19 | 0 | 0 | 0 | 0 | 350 | 0 | 0 | 350 |
OTHER | 2,092 | 867 | 805 | 0 | 0 | 0 | 0 | 3,764 | 0 | 0 | 3,764 |
TOTAL OTHER | 10,912 | 4,400 | 3,515 | 0 | 0 | 0 | 0 | 18,827 | 0 | 0 | 18,827 |
|
|
|
|
|
|
|
|
|
|
|
|
GROSS REVENUE | 42,873 | 21,851 | 16,937 | 0 | 0 | 0 | 0 | 81,661 | 0 | 0 | 81,661 |
|
|
|
|
|
|
|
|
|
|
|
|
RFB COMPS | 5,857 | 2,582 | 1,953 | 0 | 0 | 0 | 0 | 10,392 | 0 | 0 | 10,392 |
COIN | 3,954 | 2,302 | 2,337 | 0 | 0 | 0 | 0 | 8,593 | 0 | 0 | 8,593 |
CASH COMPS | 1,048 | 110 | 89 | 0 | 0 | 0 | 0 | 1,247 | 0 | 0 | 1,247 |
ALLOCATED COMPS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
TOTAL PROMO ALLOWANCES | 10,859 | 4,994 | 4,379 | 0 | 0 | 0 | 0 | 20,232 | 0 | 0 | 20,232 |
|
|
|
|
|
|
|
|
|
|
|
|
NET REVENUES | 32,014 | 16,857 | 12,558 | 0 | 0 | 0 | 0 | 61,429 | 0 | 0 | 61,429 |
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
PAYROLL & RELATED | 12,933 | 8,118 | 6,122 | 0 | 0 | 431 | 0 | 27,604 | 0 | 0 | 27,604 |
COST OF GOODS SOLD | 1,720 | 566 | 555 | 0 | 0 | 0 | 0 | 2,841 | 0 | 0 | 2,841 |
PROMO EXPENSE | 1,801 | 1,554 | 666 | 0 | 0 | 0 | 0 | 4,021 | 0 | 0 | 4,021 |
ADVERTISING | 263 | 170 | 144 | 0 | 0 | 0 | 0 | 577 | 0 | 0 | 577 |
MARKETING/ENTERTAINMENT | 1,660 | 454 | 414 | 0 | 0 | 0 | 0 | 2,528 | 0 | 0 | 2,528 |
GAMING TAX & REG FEES | 3,368 | 1,974 | 1,610 | 0 | 0 | 5 | 0 | 6,957 | 0 | 0 | 6,957 |
PROPERTY TAX, RENT & INSUR | 2,949 | 1,316 | 1,067 | 0 | 0 | 217 | 0 | 5,549 | 0 | 0 | 5,549 |
UTILITIES | 1,741 | 675 | 557 | 0 | 0 | 12 | 0 | 2,985 | 0 | 0 | 2,985 |
PROV FOR DOUBTFUL ACCTS | 489 | 119 | 151 | 0 | 0 | 0 | 0 | 759 | 0 | 0 | 759 |
GEN, ADMIN & OTHER OPER | 2,723 | 1,579 | 1,310 | 0 | 80 | 2,086 | 0 | 7,778 | 0 | 0 | 7,778 |
TOTAL OPERATING EXPENSES | 29,647 | 16,525 | 12,596 | 0 | 80 | 2,751 | 0 | 61,599 | 0 | 0 | 61,599 |
|
|
|
|
|
|
|
|
|
|
|
|
GROSS OPERATING PROFIT | 2,367 | 332 | (38) | 0 | (80) | (2,751) | 0 | (170) | 0 | 0 | (170) |
|
|
|
|
|
|
|
|
|
|
|
|
VALUATION ADJ REINVEST BONDS | (746) | (524) | (131) | 0 | 0 | 0 | 0 | (1,401) | 0 | 0 | (1,401) |
CRDA DONATION EXPENSE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
SETTLEMENT REIMBURSEMENT | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
LOSS ON DEBT EXTINGUISHMENT | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
CRDA EXPENSE | (746) | (524) | (131) | 0 | 0 | 0 | 0 | (1,401) | 0 | 0 | (1,401) |
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA | 3,113 | 856 | 93 | 0 | (80) | (2,751) | 0 | 1,231 | 0 | 0 | 1,231 |
|
|
|
|
|
|
|
|
|
|
|
|
DEPRECIATION & AMORTIZATION | (3,439) | (1,257) | (62) | 0 | 0 | (15) | 0 | (4,773) | 0 | 0 | (4,773) |
INTEREST INCOME | (100) | 70 | 26 | 9,267 | 0 | 8,324 | (17,589) | (2) | 1 | 0 | (1) |
INTEREST EXPENSE | (5,912) | (2,512) | (206) | (9,267) | 0 | (12,603) | 17,589 | (12,911) | 0 | 0 | (12,911) |
NON-CASH REORGANIZATION EXPENSE | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
OTHER NON-OPERATING EXPENSE | 0 | 0 | 0 | 0 | 0 | (15) | 0 | (15) | 0 | 0 | (15) |
PROVISION FOR TAXES | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NON-CONTROLLING INTEREST IN SUBS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,870 | 0 | 3,870 |
NET INCOME(LOSS) | ($6,338) | ($2,843) | ($149) | $0 | ($80) | ($7,060) | $0 | ($16,470) | $3,871 | $0 | ($12,599) |
**Subsequent to filing the March 2009 MOR, TER Holdings recorded a non-cash charge related to unamortized deferred financing costs of $4,922. Of this charge, $1,157 was attributed to noncontrolling interests at TER, Inc.
TCI 2 HOLDINGS et al |
Consolidating Statement of Operations |
For the Period February 17 through April 30, 2009 |
MOR-2 Case # 09-13654 (JHW) |
(Unaudited) |
(Dollars in Thousands) | TRUMP | TRUMP | TRUMP | TER | TER | TER | TERH | TERH | TER | TER INC | TER INC |
| TAJ MAHAL | PLAZA | MARINA | FUNDING | DEVELOP | HOLDINGS LP | ELIMINATION | CONSOLIDATED | INC | ELIMINATION | CONSOLIDATED |
REVENUES |
|
|
|
|
|
|
|
|
|
|
|
TABLE GAMES REVENUE | $31,171 | $10,878 | $7,433 | $0 | $0 | $0 | $0 | $49,482 | $0 | $0 | $49,482 |
SLOT REVENUE | 52,570 | 28,441 | 25,389 | 0 | 0 | 0 | 0 | 106,400 | 0 | 0 | 106,400 |
POKER REVENUE | 3,681 | 0 | 0 | 0 | 0 | 0 | 0 | 3,681 | 0 | 0 | 3,681 |
KENO WIN | 67 | 0 | 0 | 0 | 0 | 0 | 0 | 67 | 0 | 0 | 67 |
SIMULCAST REVENUE | 149 | 0 | 0 | 0 | 0 | 0 | 0 | 149 | 0 | 0 | 149 |
TOTAL GAMING REVENUE | 87,638 | 39,319 | 32,822 | 0 | 0 | 0 | 0 | 159,779 | 0 | 0 | 159,779 |
|
|
|
|
|
|
|
|
|
|
|
|
ROOMS | 9,189 | 4,353 | 3,070 | 0 | 0 | 0 | 0 | 16,612 | 0 | 0 | 16,612 |
FOOD & BEVERAGE | 10,403 | 4,411 | 3,424 | 0 | 0 | 0 | 0 | 18,238 | 0 | 0 | 18,238 |
ENTERTAINMENT | 303 | 115 | 29 | 0 | 0 | 0 | 0 | 447 | 0 | 0 | 447 |
OTHER | 4,362 | 1,619 | 1,545 | 0 | 0 | 0 | 0 | 7,526 | 0 | 0 | 7,526 |
TOTAL OTHER | 24,257 | 10,498 | 8,068 | 0 | 0 | 0 | 0 | 42,823 | 0 | 0 | 42,823 |
|
|
|
|
|
|
|
|
|
|
|
|
GROSS REVENUE | 111,895 | 49,817 | 40,890 | 0 | 0 | 0 | 0 | 202,602 | 0 | 0 | 202,602 |
|
|
|
|
|
|
|
|
|
|
|
|
RFB COMPS | 13,606 | 6,274 | 4,784 | 0 | 0 | 0 | 0 | 24,664 | 0 | 0 | 24,664 |
COIN | 10,700 | 5,737 | 5,548 | 0 | 0 | 0 | 0 | 21,985 | 0 | 0 | 21,985 |
CASH COMPS | 4,305 | 365 | 225 | 0 | 0 | 0 | 0 | 4,895 | 0 | 0 | 4,895 |
TOTAL PROMO ALLOWANCES | 28,611 | 12,376 | 10,557 | 0 | 0 | 0 | 0 | 51,544 | 0 | 0 | 51,544 |
|
|
|
|
|
|
|
|
|
|
|
|
NET REVENUES | 83,284 | 37,441 | 30,333 | 0 | 0 | 0 | 0 | 151,058 | 0 | 0 | 151,058 |
|
|
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
PAYROLL & RELATED | 30,887 | 18,726 | 15,073 | 0 | 0 | 1,050 | 0 | 65,736 | 0 | 0 | 65,736 |
COST OF GOODS SOLD | 4,003 | 1,446 | 1,320 | 0 | 0 | 0 | 0 | 6,769 | 0 | 0 | 6,769 |
PROMO EXPENSE | 4,759 | 3,556 | 1,737 | 0 | 0 | 0 | 0 | 10,052 | 0 | 0 | 10,052 |
ADVERTISING | 611 | 367 | 371 | 0 | 0 | 0 | 0 | 1,349 | 0 | 0 | 1,349 |
MARKETING/ENTERTAINMENT | 3,298 | 1,103 | 1,011 | 0 | 0 | 0 | 0 | 5,412 | 0 | 0 | 5,412 |
GAMING TAX & REG FEES | 9,026 | 4,625 | 3,925 | 0 | 0 | 10 | 0 | 17,586 | 0 | 0 | 17,586 |
PROPERTY TAX, RENT & INSUR | 7,312 | 3,419 | 2,789 | 0 | 0 | 557 | 0 | 14,077 | 0 | 0 | 14,077 |
UTILITIES | 4,038 | 1,624 | 1,424 | 0 | 0 | 26 | 0 | 7,112 | 0 | 0 | 7,112 |
PROV FOR DOUBTFUL ACCTS | 1,607 | 456 | 575 | 0 | 0 | 0 | 0 | 2,638 | 0 | 0 | 2,638 |
GEN, ADMIN & OTHER OPER | 6,711 | 3,806 | 3,022 | 0 | 157 | 5,505 | 0 | 19,201 | 0 | 0 | 19,201 |
TOTAL OPERATING EXPENSES | 72,252 | 39,128 | 31,247 | 0 | 157 | 7,148 | 0 | 149,932 | 0 | 0 | 149,932 |
|
|
|
|
|
|
|
|
|
|
|
|
GROSS OPERATING PROFIT | 11,032 | (1,687) | (914) | 0 | (157) | (7,148) | 0 | 1,126 | 0 | 0 | 1,126 |
|
|
|
|
|
|
|
|
|
|
|
|
VALUATION ADJ REINVEST BONDS | (513) | (446) | (49) | 0 | 0 | 0 | 0 | (1,008) | 0 | 0 | (1,008) |
CRDA EXPENSE(INCOME) | (513) | (446) | (49) | 0 | 0 | 0 | 0 | (1,008) | 0 | 0 | (1,008) |
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA | 11,545 | (1,241) | (865) | 0 | (157) | (7,148) | 0 | 2,134 | 0 | 0 | 2,134 |
|
|
|
|
|
|
|
|
|
|
|
|
DEPRECIATION & AMORTIZATION | (8,382) | (3,075) | (151) | 0 | 0 | (26) | 0 | (11,634) | 0 | 0 | (11,634) |
INTEREST INCOME | (22) | 192 | 54 | 22,506 | 0 | 20,232 | (42,732) | 230 | 3 | 0 | 233 |
INTEREST EXPENSE | (14,372) | (6,106) | (513) | (22,506) | 0 | (30,753) | 42,732 | (31,518) | 0 | 0 | (31,518) |
NON-CASH REORGANIZATION EXPENSE | (4,567) | (2,284) | 0 | 0 | 0 | (7,581) | 0 | (14,432) | 0 | 0 | (14,432) |
OTHER NON-OPERATING EXPENSE | 0 | 0 | 0 | 0 | 0 | (36) | 0 | (36) | 0 | 0 | (36) |
PROVISION FOR TAXES | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
NON-CONTROLLING INTEREST IN SUBS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12,984 | 0 | 12,984 |
NET INCOME(LOSS) | ($15,798) | ($12,514) | ($1,475) | $0 | ($157) | ($25,312) | $0 | ($55,256) | $12,987 | $0 | ($42,269) |
TCI 2 HOLDINGS et al |
Consolidating Balance Sheet |
April 30, 2009 and February 16, 2009 |
MOR-3 Case # 09-13654 (JHW) |
(Unaudited) |
(Dollars in Thousands) | TRUMP TAJ MAHAL | TRUMP PLAZA | TRUMP MARINA | TER FUNDING | TER DEVELOPMENT | TER HOLDINGS LP | TERH ELIMINATION | TERH CONSOLIDATED | TRUMP ENTER RESORTS INC | TER INC ELIMINATION | April 30, 2009 TER INC CONSOLIDATED | February 16, 2009 TER INC CONSOLIDATED |
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
CASH & CASH EQUIVALENTS | $23,158 | $15,310 | $11,638 | $0 | $0 | $18,643 | $0 | $68,749 | $982 | $0 | $69,731 | $71,156 |
ACCOUNTS RECEIVABLE, NET | 28,181 | 6,858 | 6,350 | 0 | 0 | 0 | 0 | 41,389 | 0 | 0 | 41,389 | 41,896 |
ACCTS RECEIVABLE, OTHER | 1,961 | 1,398 | 1,493 | 99,417 | 0 | 31,888 | (131,228) | 4,929 | 0 | 0 | 4,929 | 4,798 |
RE TAX RECEIVABLE | 478 | 3,665 | 346 | 0 | 0 | 0 | 0 | 4,489 | 0 | 0 | 4,489 | 638 |
INVENTORIES | 3,231 | 1,332 | 1,115 | 0 | 0 | 0 | 0 | 5,678 | 0 | 0 | 5,678 | 5,465 |
PREPAID AND OTHER | 6,445 | 2,849 | 2,109 | 0 | 0 | 640 | 0 | 12,043 | 0 | 0 | 12,043 | 21,200 |
DEF INCOME TAXES- CURRENT | 904 | 944 | 1,019 | 0 | 0 | 0 | 0 | 2,867 | 10,942 | 0 | 13,809 | 13,809 |
TOTAL CURRENT ASSETS | 64,358 | 32,356 | 24,070 | 99,417 | 0 | 51,171 | (131,228) | 140,144 | 11,924 | 0 | 152,068 | 158,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT IN SUBSIDIARIES | 0 | 0 | 0 | 0 | 0 | 551,535 | (551,535) | 0 | (35,849) | 35,849 | 0 | 0 |
NOTES RECEIVABLE | 0 | 0 | 0 | 1,248,969 | 0 | 1,175,041 | (2,424,010) | 0 | 0 | 0 | 0 | 0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROPERTY & EQUIPMENT |
|
|
|
|
|
|
|
|
|
|
|
|
LAND | 196,618 | 95,125 | 105,509 | 0 | 0 | 1,043 | 0 | 398,295 | 0 | 0 | 398,295 | 398,296 |
BUILDINGS AND IMPROVEMENTS | 898,658 | 283,615 | 79,953 | 0 | 0 | 1,645 | 0 | 1,263,871 | 0 | 0 | 1,263,871 | 1,264,760 |
FURNITURE, FIXTURES AND EQUIPMENT | 132,884 | 53,474 | 34,223 | 0 | 0 | 934 | 0 | 221,515 | 0 | 0 | 221,515 | 220,351 |
LEASEHOLD IMPROVEMENTS | 0 | 0 | 5,135 | 0 | 0 | 958 | 0 | 6,093 | 0 | 0 | 6,093 | 6,093 |
CONSTRUCTION-IN-PROCESS | 464 | 1,662 | 3,174 | 0 | 100 | 229 | 0 | 5,629 | 0 | 0 | 5,629 | 4,006 |
PROPERTY AND EQUIPMENT | 1,228,624 | 433,876 | 227,994 | 0 | 100 | 4,809 | 0 | 1,895,403 | 0 | 0 | 1,895,403 | 1,893,506 |
ACCUMULATED DEPRECIATION | (130,372) | (69,476) | 0 | 0 | 0 | (1,463) | 0 | (201,311) | 0 | 0 | (201,311) | (189,889) |
PROPERTY AND EQUIPMENT, NET | 1,098,252 | 364,400 | 227,994 | 0 | 100 | 3,346 | 0 | 1,694,092 | 0 | 0 | 1,694,092 | 1,703,617 |
|
|
|
|
|
|
|
|
|
|
|
|
|
RESTRICTED CASH | 0 | 0 | 0 | 0 | 0 | 2,607 | 0 | 2,607 | 0 | 0 | 2,607 | 2,807 |
DEFERRED FINANCE COSTS, NET | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14,533 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LEASEHOLD INT | 0 | 22 | 0 | 0 | 0 | 0 | 0 | 22 | 0 | 0 | 22 | 23 |
CUSTOMER RELATION | 3,050 | 0 | 0 | 0 | 0 | 0 | 0 | 3,050 | 0 | 0 | 3,050 | 3,253 |
TRADENAMES | 36,432 | 16,780 | 0 | 0 | 0 | 0 | 0 | 53,212 | 0 | 0 | 53,212 | 53,212 |
INTANGIBLES ASSETS, NET | 39,482 | 16,802 | 0 | 0 | 0 | 0 | 0 | 56,284 | 0 | 0 | 56,284 | 56,488 |
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RE TAX RECEIVABLE-L/T | 1,518 | 9,562 | 1,094 | 0 | 0 | 0 | 0 | 12,174 | 0 | 0 | 12,174 | 15,863 |
CRDA INVESTMENTS | 28,427 | 15,651 | 11,413 | 0 | 0 | 0 | 0 | 55,491 | 0 | 0 | 55,491 | 57,464 |
OTHER ASSETS, NET | 5,275 | 2,016 | 3,235 | 0 | 0 | 14,409 | 0 | 24,935 | 0 | 0 | 24,935 | 25,630 |
TOTAL ASSETS | $1,237,312 | $440,787 | $267,806 | $1,348,386 | $100 | $1,798,109 | ($3,106,773) | $1,985,727 | ($23,925) | $35,849 | $1,997,651 | $2,035,364 |
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TCI 2 HOLDINGS et al |
Consolidating Balance Sheet |
April 30, 2009 and February 16, 2009 |
MOR-3 Case # 09-13654 (JHW) |
(Unaudited) |
(Dollars in Thousands) | TRUMP TAJ MAHAL | TRUMP PLAZA | TRUMP MARINA | TER FUNDING | TER DEVELOPMENT | TER HOLDINGS LP | TERH ELIMINATION | TERH CONSOLIDATED | TRUMP ENTER RESORTS INC | TER INC ELIMINATION | April 30, 2009 TER INC CONSOLIDATED | February 16, 2009 TER INC CONSOLIDATED |
LIABILITIES |
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CURRENT LIABILITIES |
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ACCOUNTS PAYABLE | $11,965 | $4,979 | $4,491 | $0 | $81 | $8,584 | $0 | $30,100 | $0 | $0 | $30,100 | $32,640 |
ACCRUED PAYROLL | 10,856 | 5,909 | 5,080 | 0 | 0 | 794 | 0 | 22,639 | 0 | 0 | 22,639 | 24,234 |
INCOME TAXES PAYABLE | 3,470 | 2,384 | 2,011 | 0 | 0 | 483 | 0 | 8,348 | 0 | 0 | 8,348 | 8,248 |
ACCRUED INTEREST PAYABLE | 31,453 | 7,460 | 2,382 | 99,417 | 0 | 103,143 | (131,228) | 112,627 | 0 | 0 | 112,627 | 91,524 |
DUE TO AFFILIATES | 15,869 | 1,704 | 210 | 0 | 0 | (17,783) | 0 | 0 | 0 | 0 | 0 | 0 |
SELF INSURANCE RESERVES | 6,875 | 4,403 | 3,492 | 0 | 0 | 0 | 0 | 14,770 | 0 | 0 | 14,770 | 14,717 |
ACCRUED PARTNER DISTRIBUTIONS | 0 | 0 | 0 | 0 | 0 | 180 | 0 | 180 | 0 | 0 | 180 | 0 |
OTHER ACCRUED LIABILITIES | 8,229 | 4,703 | 3,005 | 0 | 0 | 1,105 | 0 | 17,042 | 0 | 0 | 17,042 | 12,744 |
OTHER CURRENT LIABILITIES | 7,134 | 3,435 | 18,555 | 0 | 0 | 36 | 0 | 29,160 | 0 | 0 | 29,160 | 31,928 |
SENIOR NOTES, SUBJECT TO COMPROMISE | 564,327 | 287,153 |
| 1,248,969 |
| 1,248,969 | (2,100,449) | 1,248,969 |
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| 1,248,969 | 1,248,969 |
CURR MATURTIES - LONG-TERM DEBT | 193 | 0 | 0 | 0 | 0 | 487,525 | 0 | 487,718 | 0 | 0 | 487,718 | 489,032 |
TOTAL CURRENT LIABILITIES | 660,371 | 322,130 | 39,226 | 1,348,386 | 81 | 1,833,036 | (2,231,677) | 1,971,553 | 0 | 0 | 1,971,553 | 1,954,036 |
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INTERCOMPANY DEBT | 250,000 | 50,594 | 22,967 | 0 | 0 | 0 | (323,561) | 0 | 0 | 0 | 0 | 0 |
OTHER L/T DEBT | 5,857 | 0 | 0 | 0 | 0 | 0 | 0 | 5,857 | 0 | 0 | 5,857 | 5,826 |
TOTAL LONG-TERM DEBT | 255,857 | 50,594 | 22,967 | 0 | 0 | 0 | (323,561) | 5,857 | 0 | 0 | 5,857 | 5,826 |
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DEFERRED INCOME TAXES | 13,440 | 2,854 | 1,019 | 0 | 0 | 0 | 0 | 17,313 | 50,051 | 0 | 67,364 | 67,364 |
INCOME TAXES-L/T | 5,816 | 3,357 | 2,939 | 0 | 0 | 697 | 0 | 12,809 | 0 | 0 | 12,809 | 12,809 |
OTHER LONG-TERM LIABILITIES | 0 | 13,795 | 24 | 0 | 0 | 225 | 0 | 14,044 | 0 | 0 | 14,044 | 14,184 |
TOTAL LIABILITIES | 935,484 | 392,730 | 66,175 | 1,348,386 | 81 | 1,833,958 | (2,555,238) | 2,021,576 | 50,051 | 0 | 2,071,627 | 2,054,219 |
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STOCKHOLDERS' EQUITY(DEFICIT) |
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COMMON STOCK | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32 | 0 | 32 | 32 |
NONCONTROLLING INTEREST IN SUBSIDIARIES | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (12,407) | 0 | (12,407) | 683 |
CAPITAL IN EXCESS OF PAR | 371,480 | 146,282 | 422,272 | 0 | 11,434 | 604,236 | (951,468) | 604,236 | 467,072 | (604,236) | 467,072 | 466,835 |
OTHER COMPREHENSIVE INCOME | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
RETAINED EARNINGS (DEFICIT) | (69,652) | (98,225) | (220,641) | 0 | (11,415) | (640,085) | 399,933 | (640,085) | (528,673) | 640,085 | (528,673) | (486,405) |
STOCKHOLDERS' EQUITY | 301,828 | 48,057 | 201,631 | 0 | 19 | (35,849) | (551,535) | (35,849) | (73,976) | 35,849 | (73,976) | (18,855) |
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TOTAL LIABILITIES AND S/H EQUITY | $1,237,312 | $440,787 | $267,806 | $1,348,386 | $100 | $1,798,109 | ($3,106,773) | $1,985,727 | ($23,925) | $35,849 | $1,997,651 | $2,035,364 |
TCI 2 HOLDINGS, LLC et al. |
CONSOLIDATING STATEMENT OF ACCOUNTS PAYABLE AGING - FORM MOR-4 |
AS OF APRIL 30, 2009 |
(Unaudited) |
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| 0 - 30 | 31 - 60 | 61 - 90 | 91 - 120 | Over 120 | Total |
($in Thousands) | Days | Days | Days | Days | Days |
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TER Holdings, LP | $2,134 | $1,534 | $414 | $1,013 | $3,489 | $8,584 |
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Trump Taj Mahal | 7,949 | 1,583 | 954 | 157 | 18 | 10,661 |
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Trump Taj Mahal Admin. | 900 | 99 | 139 | 3 | 163 | 1,304 |
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Trump Plaza | 3,712 | 739 | 449 | 73 | 6 | 4,979 |
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Trump Marina | 3,743 | 5 | 646 | 83 | 14 | 4,491 |
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TER Funding | 0 | 0 | 0 | 0 | 0 | 0 |
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TER Development | 76 | 5 | 0 | 0 | 0 | 81 |
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Total | $18,514 | $3,965 | $2,602 | $1,329 | $3,690 | $30,100 |
TCI 2 HOLDINGS, LLC et al. |
CONSOLIDATING STATEMENT OF ACCOUNTS RECEIVABLE AGING - FORM MOR-5 |
AS OF APRIL 30, 2009 |
(Unaudited) |
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| Allowance |
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| 0 - 30 | 31 - 60 | 61 - 90 | Over 90 | for Doubtful | Total |
($in Thousands) | Days | Days | Days | Days | Accounts |
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TER Holdings, LP | $77 |
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| $77 |
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Trump Taj Mahal | 12,915 | 8,911 | 1,125 | 32,797 | (25,128) | 30,620 |
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Trump Plaza | 5,291 | 854 | 3,314 | 8,115 | (5,653) | 11,921 |
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Trump Marina | 4,097 | 1,017 | 353 | 6,299 | (3,577) | 8,189 |
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TER Funding |
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| 0 |
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TER Development |
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| 0 |
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Total | $22,380 | $10,782 | $4,792 | $47,211 | ($34,358) | $50,807 |