Supplemental Guarantor Financial Information | 6 Months Ended |
Aug. 02, 2014 |
Supplemental Guarantor Financial Information [Abstract] | ' |
Supplemental Guarantor Financial Information | ' |
NOTE 11 – SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION |
The obligation to pay principal and interest on our 2019 Notes is jointly and severally guaranteed on a full and unconditional basis, subject to customary release provisions, by all of the guarantors under our 2018 Credit Facility. The 2019 Notes are guaranteed by all of our 100%-owned domestic subsidiaries except Tandy Life Insurance Company. Refer to Note 5 – “Indebtedness and Borrowing Facilities” included in our Annual Report on Form 10-K for the year ended December 31, 2013, for additional information on the 2019 Notes and the related exchange offer and the 2018 Credit Facility. |
The following condensed consolidating financial information represents the financial information of RadioShack, its guarantor subsidiaries and its non-guarantor subsidiaries prepared on the equity basis of accounting. Earnings of subsidiaries are, therefore, reflected in the parent company's investment accounts and earnings. The elimination entries primarily eliminate investments in subsidiaries and intercompany balances and transactions. The non-guarantor subsidiaries are comprised of the foreign subsidiaries of the Company and Tandy Life Insurance Company. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the guarantor or non-guarantor subsidiaries operated as independent entities. |
Subsequent to the issuance of our consolidated financial statements for year ended December 31, 2013, we identified an immaterial error in the presentation of the Condensed Consolidating Statements of Cash Flows contained in Note 11 - "Guarantor Consolidating Financial Statements" in our Annual Report on Form 10-K for the year ended December 31, 2013. The error is related to a $6.3 million adjustment between the Parent and Guarantor Subsidiaries for the proceeds for the sale of a building and fixtures. This adjustment did not have an impact on the consolidated financial statements for the year ended December 31, 2013, for the 26 weeks ended August 2, 2014, or for the six months ended July 31, 2013. |
Condensed Consolidating Statements of Comprehensive Income (unaudited) |
For the 13 Weeks Ended August 2, 2014 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | | | | | | |
Net sales and operating revenues | | $ | 643.0 | | | $ | 433.0 | | | $ | 31.4 | | | $ | -433.6 | | | $ | 673.8 | |
Cost of products sold | | | 429.3 | | | | 419.8 | | | | 20.7 | | | | -433.6 | | | | 436.2 | |
Gross profit | | | 213.7 | | | | 13.2 | | | | 10.7 | | | | — | | | | 237.6 | |
| | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Selling, general and administrative | | | 297.8 | | | | 1.7 | | | | 24.1 | | | | — | | | | 323.6 | |
Depreciation and amortization | | | 11.9 | | | | — | | | | 0.9 | | | | — | | | | 12.8 | |
Impairment of long-lived assets and goodwill | | | 8.3 | | | | — | | | | 12.3 | | | | — | | | | 20.6 | |
Total operating expenses | | | 318.0 | | | | 1.7 | | | | 37.3 | | | | — | | | | 357.0 | |
| | | | | | | | | | | | | | | | | | | | |
Operating (loss) income | | | -104.3 | | | | 11.5 | | | | -26.6 | | | | — | | | | -119.4 | |
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Interest income | | | 0.2 | | | | 3.0 | | | | -0.4 | | | | -2.5 | | | | 0.3 | |
Interest expense | | | -19.3 | | | | — | | | | -0.1 | | | | 2.5 | | | | -16.9 | |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations | | | | | | | | | | | | | | | | | | | | |
before income taxes | | | -123.4 | | | | 14.5 | | | | -27.1 | | | | — | | | | -136 | |
Income tax (benefit) expense | | | -1.7 | | | | 5.9 | | | | -2.8 | | | | — | | | | 1.4 | |
Equity in earnings of subsidiaries, net of income taxes | | | -15.7 | | | | -16.2 | | | | — | | | | 31.9 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
Loss from continuing operations | | | -137.4 | | | | -7.6 | | | | -24.3 | | | | 31.9 | | | | -137.4 | |
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Net loss | | $ | -137.4 | | | $ | -7.6 | | | $ | -24.3 | | | $ | 31.9 | | | $ | -137.4 | |
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Comprehensive loss | | $ | -137.5 | | | $ | -7.6 | | | $ | -24.4 | | | $ | 32.0 | | | $ | -137.5 | |
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Condensed Consolidating Statements of Comprehensive Income (unaudited) |
For the Three Months Ended July 31, 2013 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | | | | | | |
Net sales and operating revenues | | $ | 827.9 | | | $ | 517.2 | | | $ | 31.9 | | | $ | -515.6 | | | $ | 861.4 | |
Cost of products sold | | | 546.1 | | | | 508.4 | | | | 21.0 | | | | -515.6 | | | | 559.9 | |
Gross profit | | | 281.8 | | | | 8.8 | | | | 10.9 | | | | — | | | | 301.5 | |
| | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Selling, general and administrative | | | 320.6 | | | | 0.7 | | | | 13.1 | | | | — | | | | 334.4 | |
Depreciation and amortization | | | 14.5 | | | | — | | | | 0.9 | | | | — | | | | 15.4 | |
Impairment of long-lived assets and goodwill | | | 2.8 | | | | — | | | | — | | | | — | | | | 2.8 | |
Total operating expenses | | | 337.9 | | | | 0.7 | | | | 14.0 | | | | — | | | | 352.6 | |
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Operating (loss) income | | | -56.1 | | | | 8.1 | | | | -3.1 | | | | — | | | | -51.1 | |
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Interest income | | | 0.2 | | | | 2.8 | | | | 1.4 | | | | -4.1 | | | | 0.3 | |
Interest expense | | | -17.9 | | | | — | | | | -0.2 | | | | 4.1 | | | | -14 | |
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(Loss) income from continuing operations | | | | | | | | | | | | | | | | | | | | |
before income taxes | | | -73.8 | | | | 10.9 | | | | -1.9 | | | | — | | | | -64.8 | |
Income tax (benefit) expense | | | -13.1 | | | | -0.6 | | | | 0.3 | | | | — | | | | -13.4 | |
Equity in earnings of subsidiaries, net of income taxes | | | 8.5 | | | | -2.5 | | | | — | | | | -6 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations | | | -52.2 | | | | 9.0 | | | | -2.2 | | | | -6 | | | | -51.4 | |
Discontinued operations, net of income taxes | | | — | | | | -0.8 | | | | — | | | | — | | | | -0.8 | |
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Net (loss) income | | $ | -52.2 | | | $ | 8.2 | | | $ | -2.2 | | | $ | -6 | | | $ | -52.2 | |
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Comprehensive (loss) income | | $ | -56.2 | | | $ | 4.3 | | | $ | -6.2 | | | $ | 1.9 | | | $ | -56.2 | |
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Condensed Consolidating Statements of Comprehensive Income (unaudited) |
For the 26 Weeks Ended August 2, 2014 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | | | | | | |
Net sales and operating revenues | | $ | 1,354.6 | | | $ | 968.2 | | | $ | 56.9 | | | $ | -969.2 | | | $ | 1,410.5 | |
Cost of products sold | | | 891.4 | | | | 944.9 | | | | 37.1 | | | | -969.2 | | | | 904.2 | |
Gross profit | | | 463.2 | | | | 23.3 | | | | 19.8 | | | | — | | | | 506.3 | |
| | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Selling, general and administrative | | | 621.5 | | | | 3.0 | | | | 35.0 | | | | — | | | | 659.5 | |
Depreciation and amortization | | | 24.2 | | | | — | | | | 1.6 | | | | — | | | | 25.8 | |
Impairment of long-lived assets and goodwill | | | 9.1 | | | | — | | | | 12.3 | | | | — | | | | 21.4 | |
Total operating expenses | | | 654.8 | | | | 3.0 | | | | 48.9 | | | | — | | | | 706.7 | |
| | | | | | | | | | | | | | | | | | | | |
Operating (loss) income | | | -191.6 | | | | 20.3 | | | | -29.1 | | | | — | | | | -200.4 | |
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Interest income | | | 0.9 | | | | 5.8 | | | | 0.9 | | | | -6.6 | | | | 1.0 | |
Interest expense | | | -39.9 | | | | — | | | | -0.2 | | | | 6.6 | | | | -33.5 | |
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(Loss) income from continuing operations | | | | | | | | | | | | | | | | | | | | |
before income taxes | | | -230.6 | | | | 26.1 | | | | -28.4 | | | | — | | | | -232.9 | |
Income tax (benefit) expense | | | -5.4 | | | | 10.7 | | | | -2.5 | | | | — | | | | 2.8 | |
Equity in earnings of subsidiaries, net of income taxes | | | -10.5 | | | | -18.4 | | | | — | | | | 28.9 | | | | — | |
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Loss from continuing operations | | | -235.7 | | | | -3 | | | | -25.9 | | | | 28.9 | | | | -235.7 | |
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Net loss | | $ | -235.7 | | | $ | -3 | | | $ | -25.9 | | | $ | 28.9 | | | $ | -235.7 | |
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Comprehensive loss | | $ | -235.2 | | | $ | -2.3 | | | $ | -25.4 | | | $ | 27.7 | | | $ | -235.2 | |
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Condensed Consolidating Statements of Comprehensive Income (unaudited) |
For the Six Months Ended July 31, 2013 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | | | | | | |
Net sales and operating revenues | | $ | 1,690.6 | | | $ | 1,276.5 | | | $ | 61.6 | | | $ | -1,318.90 | | | $ | 1,709.8 | |
Cost of products sold | | | 1,092.3 | | | | 1,253.5 | | | | 40.5 | | | | -1,318.90 | | | | 1,067.4 | |
Gross profit | | | 598.3 | | | | 23.0 | | | | 21.1 | | | | — | | | | 642.4 | |
| | | | | | | | | | | | | | | | | | | | |
Operating expenses: | | | | | | | | | | | | | | | | | | | | |
Selling, general and administrative | | | 642.9 | | | | 0.3 | | | | 24.9 | | | | — | | | | 668.1 | |
Depreciation and amortization | | | 29.8 | | | | — | | | | 1.7 | | | | — | | | | 31.5 | |
Impairment of long-lived assets and goodwill | | | 4.2 | | | | — | | | | — | | | | — | | | | 4.2 | |
Total operating expenses | | | 676.9 | | | | 0.3 | | | | 26.6 | | | | — | | | | 703.8 | |
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Operating (loss) income | | | -78.6 | | | | 22.7 | | | | -5.5 | | | | — | | | | -61.4 | |
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Interest income | | | 0.4 | | | | 5.4 | | | | 2.9 | | | | -8 | | | | 0.7 | |
Interest expense | | | -36.3 | | | | — | | | | -0.4 | | | | 8.0 | | | | -28.7 | |
Other loss | | | -0.3 | | | | — | | | | — | | | | — | | | | -0.3 | |
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(Loss) income from continuing operations | | | | | | | | | | | | | | | | | | | | |
before income taxes | | | -114.8 | | | | 28.1 | | | | -3 | | | | — | | | | -89.7 | |
Income tax (benefit) expense | | | -16.2 | | | | 1.4 | | | | -0.2 | | | | — | | | | -15 | |
Equity in earnings of subsidiaries, net of income taxes | | | 18.4 | | | | -3.6 | | | | — | | | | -14.8 | | | | — | |
| | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations | | | -80.2 | | | | 23.1 | | | | -2.8 | | | | -14.8 | | | | -74.7 | |
Discontinued operations, net of income taxes | | | — | | | | -5.5 | | | | — | | | | — | | | | -5.5 | |
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Net (loss) income | | $ | -80.2 | | | $ | 17.6 | | | $ | -2.8 | | | $ | -14.8 | | | $ | -80.2 | |
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Comprehensive (loss) income | | $ | -79.9 | | | $ | 17.8 | | | $ | -2.6 | | | $ | -15.2 | | | $ | -79.9 | |
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Condensed Consolidating Balance Sheets (unaudited) |
At August 2, 2014 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
Assets | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 24.7 | | | $ | 0.5 | | | $ | 5.3 | | | $ | — | | | $ | 30.5 | |
Accounts and notes receivable, net | | | 155.1 | | | | — | | | | 4.6 | | | | — | | | | 159.7 | |
Inventories | | | 627.9 | | | | 15.9 | | | | 29.6 | | | | — | | | | 673.4 | |
Other current assets | | | 57.5 | | | | 2.1 | | | | 6.7 | | | | — | | | | 66.3 | |
Intercompany receivables | | | — | | | | 315.7 | | | | — | | | | -315.7 | | | | — | |
Intercompany notes receivable | | | — | | | | 1,795.2 | | | | — | | | | -1,795.20 | | | | — | |
Total current assets | | | 865.2 | | | | 2,129.4 | | | | 46.2 | | | | -2,110.90 | | | | 929.9 | |
| | | | | | | | | | | | | | | | | | | | |
Property, plant and equipment, net | | | 161.7 | | | | 0.6 | | | | 9.9 | | | | — | | | | 172.2 | |
Other assets, net | | | 41.3 | | | | 2.5 | | | | 3.3 | | | | — | | | | 47.1 | |
Investment in subsidiaries | | | 2,050.0 | | | | 16.9 | | | | — | | | | -2,066.90 | | | | — | |
Total assets | | $ | 3,118.2 | | | $ | 2,149.4 | | | $ | 59.4 | | | $ | -4,177.80 | | | $ | 1,149.2 | |
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Liabilities and Stockholders’ (Deficit) Equity | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 1.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1.1 | |
Accounts payable | | | 101.5 | | | | 34.9 | | | | 16.9 | | | | — | | | | 153.3 | |
Accrued expenses and other current liabilities | | | 183.5 | | | | 25.2 | | | | 7.6 | | | | — | | | | 216.3 | |
Intercompany payables | | | 301.7 | | | | — | | | | 14.0 | | | | -315.7 | | | | — | |
Intercompany notes payable | | | 1,795.2 | | | | — | | | | — | | | | -1,795.20 | | | | — | |
Total current liabilities | | | 2,383.0 | | | | 60.1 | | | | 38.5 | | | | -2,110.90 | | | | 370.7 | |
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Long-term debt, excluding current maturities | | | 656.9 | | | | — | | | | — | | | | — | | | | 656.9 | |
Other non-current liabilities | | | 141.3 | | | | 41.1 | | | | 2.2 | | | | — | | | | 184.6 | |
Total liabilities | | | 3,181.2 | | | | 101.2 | | | | 40.7 | | | | -2,110.90 | | | | 1,212.2 | |
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Stockholders’ (deficit) equity | | | -63 | | | | 2,048.2 | | | | 18.7 | | | | -2,066.90 | | | | -63 | |
Total liabilities and stockholders’ (deficit) equity | | $ | 3,118.2 | | | $ | 2,149.4 | | | $ | 59.4 | | | $ | -4,177.80 | | | $ | 1,149.2 | |
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Condensed Consolidating Balance Sheets (unaudited) |
At February 1, 2014 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
Assets | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 32.7 | | | $ | 61.1 | | | $ | 15.8 | | | $ | — | | | $ | 109.6 | |
Accounts and notes receivable, net | | | 150.3 | | | | — | | | | 3.8 | | | | — | | | | 154.1 | |
Inventories | | | 772.4 | | | | 13.5 | | | | 21.9 | | | | — | | | | 807.8 | |
Other current assets | | | 74.9 | | | | 0.8 | | | | 4.4 | | | | — | | | | 80.1 | |
Intercompany receivables | | | — | | | | 295.7 | | | | — | | | | -295.7 | | | | — | |
Intercompany notes receivable | | | — | | | | 1,735.5 | | | | — | | | | -1,735.50 | | | | — | |
Total current assets | | | 1,030.3 | | | | 2,106.6 | | | | 45.9 | | | | -2,031.20 | | | | 1,151.6 | |
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Property, plant and equipment, net | | | 174.6 | | | | 0.8 | | | | 10.9 | | | | — | | | | 186.3 | |
Other assets, net | | | 47.1 | | | | 2.2 | | | | 23.4 | | | | — | | | | 72.7 | |
Investment in subsidiaries | | | 2,061.8 | | | | 36.9 | | | | — | | | | -2,098.70 | | | | — | |
Total assets | | $ | 3,313.8 | | | $ | 2,146.5 | | | $ | 80.2 | | | $ | -4,129.90 | | | $ | 1,410.6 | |
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Liabilities and Stockholders’ Equity | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 1.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1.1 | |
Accounts payable | | | 192.3 | | | | 29.0 | | | | 13.4 | | | | — | | | | 234.7 | |
Accrued expenses and other current liabilities | | | 172.4 | | | | 26.2 | | | | 7.8 | | | | — | | | | 206.4 | |
Intercompany payables | | | 287.1 | | | | — | | | | 8.6 | | | | -295.7 | | | | — | |
Intercompany notes payable | | | 1,735.5 | | | | — | | | | — | | | | -1,735.50 | | | | — | |
Total current liabilities | | | 2,388.4 | | | | 55.2 | | | | 29.8 | | | | -2,031.20 | | | | 442.2 | |
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Long-term debt, excluding current maturities | | | 613.0 | | | | — | | | | — | | | | — | | | | 613.0 | |
Other non-current liabilities | | | 143.7 | | | | 40.7 | | | | 2.3 | | | | — | | | | 186.7 | |
Total liabilities | | | 3,145.1 | | | | 95.9 | | | | 32.1 | | | | -2,031.20 | | | | 1,241.9 | |
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Stockholders’ equity | | | 168.7 | | | | 2,050.6 | | | | 48.1 | | | | -2,098.70 | | | | 168.7 | |
Total liabilities and stockholders’ equity | | $ | 3,313.8 | | | $ | 2,146.5 | | | $ | 80.2 | | | $ | -4,129.90 | | | $ | 1,410.6 | |
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Condensed Consolidating Balance Sheets |
At December 31, 2013 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
Assets | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 37.9 | | | $ | 121.2 | | | $ | 20.7 | | | $ | — | | | $ | 179.8 | |
Accounts and notes receivable, net | | | 206.7 | | | | 1.6 | | | | 3.6 | | | | — | | | | 211.9 | |
Inventories | | | 762.4 | | | | 14.7 | | | | 25.2 | | | | — | | | | 802.3 | |
Other current assets | | | 132.8 | | | | 0.9 | | | | 5.3 | | | | — | | | | 139.0 | |
Intercompany receivables | | | — | | | | 312.3 | | | | 6.2 | | | | -318.5 | | | | — | |
Intercompany notes receivable | | | — | | | | 1,675.0 | | | | — | | | | -1,675.00 | | | | — | |
Total current assets | | | 1,139.8 | | | | 2,125.7 | | | | 61.0 | | | | -1,993.50 | | | | 1,333.0 | |
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Property, plant and equipment, net | | | 175.0 | | | | 0.8 | | | | 11.4 | | | | — | | | | 187.2 | |
Other assets, net | | | 43.2 | | | | 2.5 | | | | 25.3 | | | | — | | | | 71.0 | |
Investment in subsidiaries | | | 2,060.6 | | | | 37.9 | | | | — | | | | -2,098.50 | | | | — | |
Total assets | | $ | 3,418.6 | | | $ | 2,166.9 | | | $ | 97.7 | | | $ | -4,092.00 | | | $ | 1,591.2 | |
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Liabilities and Stockholders’ Equity | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | |
Current maturities of long-term debt | | $ | 1.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1.1 | |
Accounts payable | | | 304.9 | | | | 50.2 | | | | 21.3 | | | | — | | | | 376.4 | |
Accrued expenses and other current liabilities | | | 173.0 | | | | 26.5 | | | | 7.6 | | | | — | | | | 207.1 | |
Intercompany payables | | | 300.7 | | | | — | | | | 17.8 | | | | -318.5 | | | | — | |
Intercompany notes payable | | | 1,675.0 | | | | — | | | | — | | | | -1,675.00 | | | | — | |
Total current liabilities | | | 2,454.7 | | | | 76.7 | | | | 46.7 | | | | -1,993.50 | | | | 584.6 | |
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Long-term debt, excluding current maturities | | | 613.0 | | | | — | | | | — | | | | — | | | | 613.0 | |
Other non-current liabilities | | | 144.5 | | | | 40.5 | | | | 2.2 | | | | — | | | | 187.2 | |
Total liabilities | | | 3,212.2 | | | | 117.2 | | | | 48.9 | | | | -1,993.50 | | | | 1,384.8 | |
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Stockholders’ equity | | | 206.4 | | | | 2,049.7 | | | | 48.8 | | | | -2,098.50 | | | | 206.4 | |
Total liabilities and stockholders’ equity | | $ | 3,418.6 | | | $ | 2,166.9 | | | $ | 97.7 | | | $ | -4,092.00 | | | $ | 1,591.2 | |
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Condensed Consolidating Statements of Cash Flows (unaudited) |
For the 26 Weeks Ended August 2, 2014 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | $ | -128.8 | | | $ | 19.1 | | | $ | -15.3 | | | $ | — | | | $ | -125 | |
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Cash flows from investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and equipment | | | -27.9 | | | | — | | | | -0.4 | | | | — | | | | -28.3 | |
Changes in restricted cash | | | 2.9 | | | | — | | | | — | | | | — | | | | 2.9 | |
Return of capital from subsidiary | | | 0.2 | | | | 0.2 | | | | — | | | | -0.4 | | | | — | |
Net cash (used in) provided by investing activities | | | -24.8 | | | | 0.2 | | | | -0.4 | | | | -0.4 | | | | -25.4 | |
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Cash flows from financing activities: | | | | | | | | | | | | | | | | | | | | |
Proceeds from issuance of long-term debt | | | 136.5 | | | | — | | | | — | | | | — | | | | 136.5 | |
Repayments of long-term debt | | | -93.5 | | | | — | | | | — | | | | — | | | | -93.5 | |
Changes in cash overdrafts | | | 28.3 | | | | — | | | | — | | | | — | | | | 28.3 | |
Payment of capital distribution | | | — | | | | -0.2 | | | | -0.2 | | | | 0.4 | | | | — | |
Change in intercompany receivable/payable | | | 74.3 | | | | -79.7 | | | | 5.4 | | | | — | | | | — | |
Net cash provided by (used in) financing activities | | | 145.6 | | | | -79.9 | | | | 5.2 | | | | 0.4 | | | | 71.3 | |
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Net decrease in cash and cash equivalents | | | -8 | | | | -60.6 | | | | -10.5 | | | | — | | | | -79.1 | |
Cash and cash equivalents, beginning of period | | | 32.7 | | | | 61.1 | | | | 15.8 | | | | — | | | | 109.6 | |
Cash and cash equivalents, end of period | | $ | 24.7 | | | $ | 0.5 | | | $ | 5.3 | | | $ | — | | | $ | 30.5 | |
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Condensed Consolidating Statements of Cash Flows (unaudited) |
For the Six Months Ended July 31, 2013 |
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| | RadioShack | | | | Non- | | | | |
| | Corporation | | Guarantor | | Guarantor | | | | |
(In millions) | | (Parent Co.) | | Subsidiaries | | Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | | | |
Net cash provided by operating activities | | $ | 24.6 | | | $ | 112.4 | | | $ | 0.6 | | | $ | -1.7 | | | $ | 135.9 | |
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Cash flows from investing activities: | | | | | | | | | | | | | | | | | | | | |
Additions to property, plant and equipment | | | -15.7 | | | | — | | | | -0.9 | | | | — | | | | -16.6 | |
Proceeds from sale of property, plant and equipment | | | 0.2 | | | | 6.3 | | | | — | | | | — | | | | 6.5 | |
Changes in restricted cash | | | -5.6 | | | | — | | | | — | | | | — | | | | -5.6 | |
Return of capital from subsidiary | | | 6.0 | | | | 6.0 | | | | — | | | | -12 | | | | — | |
Net cash (used in) provided by investing activities | | | -15.1 | | | | 12.3 | | | | -0.9 | | | | -12 | | | | -15.7 | |
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Cash flows from financing activities: | | | | | | | | | | | | | | | | | | | | |
Repayment of principal on convertible debt | | | -72.5 | | | | — | | | | — | | | | — | | | | -72.5 | |
Payments of dividends | | | — | | | | — | | | | -1.7 | | | | 1.7 | | | | — | |
Changes in cash overdrafts | | | -11 | | | | — | | | | — | | | | — | | | | -11 | |
Payment of capital distribution | | | — | | | | -6 | | | | -6 | | | | 12.0 | | | | — | |
Change in intercompany receivable/payable | | | 74.3 | | | | -83 | | | | 8.7 | | | | — | | | | — | |
Net cash (used in) provided by financing activities | | | -9.2 | | | | -89 | | | | 1.0 | | | | 13.7 | | | | -83.5 | |
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Net increase in cash and cash equivalents | | | 0.3 | | | | 35.7 | | | | 0.7 | | | | — | | | | 36.7 | |
Cash and cash equivalents, beginning of period | | | 78.9 | | | | 306.4 | | | | 17.9 | | | | — | | | | 403.2 | |
Cash and cash equivalents, end of period | | $ | 79.2 | | | $ | 342.1 | | | $ | 18.6 | | | $ | — | | | $ | 439.9 | |
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