EXHIBIT 99.4
CASE NAME: KEVCO GP, INC. ACCRUAL BASIS
CASE NUMBER: 401-40786-BJH-11
JUDGE: BARBARA J. HOUSER
UNITED STATES BANKRUPTCY COURT
NORTHERN DISTRICT OF TEXAS
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FORT WORTH DIVISION
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MONTHLY OPERATING REPORT
MONTH ENDING: MARCH 31, 2002
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IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE
UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING
REPORT (ACCRUAL BASIS - 1 THROUGH ACCRUAL BASIS - 7) AND THE ACCOMPANYING
ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT
AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS
BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE.
RESPONSIBLE PARTY:
/s/ WILFORD W. SIMPSON TREASURER
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Original Signature of Responsible Party Title
WILFORD W. SIMPSON APRIL 22, 2002
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Printed Name of Responsible Party Date
PREPARER:
/s/ DENNIS S. FAULKNER ACCOUNTANT FOR DEBTOR
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Original Signature of Preparer Title
DENNIS S. FAULKNER APRIL 22, 2002
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Printed Name of Preparer Date
CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 1
CASE NUMBER: 401-40786-BJH-11
COMPARATIVE BALANCE SHEET
SCHEDULED MONTH MONTH MONTH
ASSETS AMOUNT JAN-02 FEB-02 MAR-02
- ------ ----------- ---------- ---------- ----------
1. Unrestricted Cash
2. Restricted Cash
3. Total Cash 0 0 0 0
4. Accounts Receivable (Net)
5. Inventory
6. Notes Receivable
7. Prepaid Expenses
8. Other (Attach List) 0 0 0 0
9. Total Current Assets 0 0 0 0
10. Property, Plant & Equipment
11. Less: Accumulated Depreciation/Depletion
12. Net Property, Plant & Equipment 0 0 0 0
13. Due From Insiders
14. Other Assets - Net of Amortization (Attach List) 0 0 0 0
15. Other (Attach List) 360,837 360,837 360,837 360,837
16. Total Assets 360,837 360,837 360,837 360,837
POST PETITION LIABILITIES
17. Accounts Payable
18. Taxes Payable
19. Notes Payable
20. Professional Fees
21. Secured Debt
22. Other (Attach List) 0 0 0
23. Total Post Petition Liabilities 0 0 0
PRE PETITION LIABILITIES
24. Secured Debt (FOOTNOTE) 75,885,064 13,509,318 13,590,741 13,680,889
25. Priority Debt
26. Unsecured Debt
27. Other (Attach List) 128,815,071 128,791,803 128,791,803 128,791,803
28. Total Pre Petition Liabilities 204,700,135 142,301,121 142,382,544 142,472,692
29. Total Liabilities 204,700,135 142,301,121 142,382,544 142,472,692
EQUITY
30. Pre Petition Owners' Equity (204,339,298) (204,339,298) (204,339,298)
31. Post Petition Cumulative Profit Or (Loss)
32. Direct Charges To Equity (Attach Explanation )(FOOTNOTE) 62,399,014 62,317,591 62,227,443
33. Total Equity (141,940,284) (142,021,707) (142,111,855)
34. Total Liabilities and Equity 360,837 360,837 360,837
This form X does does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. SUPPLEMENT TO
CASE NUMBER: 401-40786-BJH-11 ACCRUAL BASIS - 1
COMPARATIVE BALANCE SHEET
SCHEDULED MONTH MONTH MONTH
ASSETS AMOUNT JAN-02 FEB-02 MAR-02
- ------ ----------- ----------- ----------- -----------
A.
B.
C.
D.
E.
TOTAL OTHER ASSETS - LINE 8 0 0 0 0
A.
B.
C.
D.
E.
TOTAL OTHER ASSETS NET OF AMORTIZATION - LINE 14 0 0 0 0
A. Investment in Subsidiaries 360,837 360,837 360,837 360,837
B.
C.
D.
E.
TOTAL OTHER ASSETS - LINE 15 360,837 360,837 360,837 360,837
POST PETITION LIABILITIES
A.
B.
C.
D.
E.
TOTAL OTHER POST PETITION LIABILITIES - LINE 22 0 0 0
PRE PETITION LIABILITIES
A. Interco.Payables (FOOTNOTE) 315,071 291,803 291,803 291,803
B. 10 3/8% Senior Sub. Notes 105,000,000 105,000,000 105,000,000 105,000,000
C. Sr. Sub. Exchangeable Notes 23,500,000 23,500,000 23,500,000 23,500,000
D.
E.
TOTAL OTHER PRE PETITION LIABILITIES - LINE 27 128,815,071 128,791,803 128,791,803 128,791,803
CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 2
CASE NUMBER: 401-40786-BJH-11
INCOME STATEMENT
MONTH MONTH MONTH QUARTER
REVENUES JAN-02 FEB-02 MAR-02 TOTAL
- -------- ---------- ---------- ---------- ----------
1. Gross Revenues 0
2. Less: Returns & Discounts 0
3. Net Revenue 0 0 0 0
COST OF GOODS SOLD
4. Material 0
5. Direct Labor 0
6. Direct Overhead 0
7. Total Cost Of Goods Sold 0 0 0 0
8. Gross Profit 0 0 0 0
OPERATING EXPENSES
9. Officer / Insider Compensation 0
10. Selling & Marketing 0
11. General & Administrative 0
12. Rent & Lease 0
13. Other (Attach List) 0
14. Total Operating Expenses 0 0 0 0
15. Income Before Non-Operating
Income & Expense 0 0 0 0
OTHER INCOME & EXPENSES
16. Non-Operating Income (Att List) 0
17. Non-Operating Expense (Att List) 0
18. Interest Expense 0
19. Depreciation / Depletion 0
20. Amortization 0
21. Other (Attach List) 0
22. Net Other Income & Expenses 0 0 0 0
REORGANIZATION EXPENSES
23. Professional Fees 0
24. U.S. Trustee Fees 0
25. Other (Attach List) 0
26. Total Reorganization Expenses 0 0 0 0
27. Income Tax 0
28. Net Profit (Loss) 0 0 0 0
This form does x does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 3
CASE NUMBER: 401-40786-BJH-11
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER
DISBURSEMENTS JAN-02 FEB-02 MAR-02 TOTAL
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1. Cash - Beginning Of Month 0 0 0 0
RECEIPTS FROM OPERATIONS
2. Cash Sales 0
COLLECTION OF ACCOUNTS RECEIVABLE
3. Pre Petition 0
4. Post Petition 0
5. Total Operating Receipts 0 0 0 0
NON-OPERATING RECEIPTS
6. Loans & Advances (Attach List) 0
7. Sale of Assets 0
8. Other (Attach List) 0
9. Total Non-Operating Receipts 0 0 0 0
10. Total Receipts 0 0 0 0
11. Total Cash Available 0 0 0 0
OPERATING DISBURSEMENTS
12. Net Payroll 0
13. Payroll Taxes Paid 0
14. Sales, Use & Other Taxes Paid 0
15. Secured / Rental / Leases 0
16. Utilities 0
17. Insurance 0
18. Inventory Purchases 0
19. Vehicle Expenses 0
20. Travel 0
21. Entertainment 0
22. Repairs & Maintenance 0
23. Supplies 0
24. Advertising 0
25. Other (Attach List) 0 0 0 0
26. Total Operating Disbursements 0 0 0 0
REORGANIZATION DISBURSEMENTS
27. Professional Fees 0
28. U.S. Trustee Fees 0
29. Other (Attach List) 0 0 0 0
30. Total Reorganization Expenses 0 0 0 0
31. Total Disbursements 0 0 0 0
32. Net Cash Flow 0 0 0 0
33. Cash - End of Month 0 0 0 0
This form does X does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 4
CASE NUMBER: 401-40786-BJH-11
SCHEDULED MONTH MONTH MONTH
ACCOUNTS RECEIVABLE AGING AMOUNT JAN-02 FEB-02 MAR-02
- ------------------------- --------- ------ ------ ------
1. 0 - 30
2. 31 - 60
3. 61 - 90
4. 91 +
5. Total Accounts Receivable 0 0 0 0
6. (Amount Considered Uncollectible)
7. Accounts Receivable (Net) 0 0 0 0
AGING OF POST PETITION MONTH: MARCH-02
TAXES AND PAYABLES --------
0 - 30 31 - 60 61 - 90 91 +
TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL
- ------------- ------ ------- ------- ---- -----
1. Federal 0
2. State 0
3. Local 0
4. Other (Attach List) 0 0 0 0 0
5. Total Taxes Payable 0 0 0 0 0
6. Accounts Payable 0
STATUS OF POST PETITION TAXES MONTH: MARCH-02
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BEGINNING AMOUNT WITHHELD ENDING TAX
FEDERAL TAX LIABILITY * AND/OR ACCRUED (AMOUNT PAID) LIABILITY
- ------- --------------- --------------- ------------- ----------
1. Withholding ** 0
2. FICA - Employee ** 0
3. FICA - Employer ** 0
4. Unemployment 0
5. Income 0
6. Other (Attach List) 0 0 0 0
7. Total Federal Taxes 0 0 0 0
STATE AND LOCAL
8. Withholding 0
9. Sales 0
10. Excise 0
11. Unemployment 0
12. Real Property 0
13. Personal Property 0
14. Other (Attach List) 0 0 0 0
15. Total State And Local 0 0 0 0
16. Total Taxes 0 0 0 0
* The beginning tax liability should represent the liability from the
prior month or, if this is the first operating report, the amount
should be zero.
** Attach photocopies of IRS Form 6123 or your FTD coupon and payment
receipt to verify payment of deposit.
This form does x does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 5
CASE NUMBER: 401-40786-BJH-11
The debtor in possession must complete the reconciliation below for each bank
account, including all general, payroll and tax accounts, as well as all savings
and investment accounts, money market accounts, certificates of deposit,
government obligations, etc. Accounts with restricted funds should be identified
by placing an asterisk next to the account number. Attach additional sheets if
necessary.
MONTH: MARCH-02
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BANK RECONCILIATIONS Account # 1 Account # 2
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A. BANK: Other Accounts TOTAL
B. ACCOUNT NUMBER: (Attach List)
C. PURPOSE (TYPE):
1. Balance Per Bank Statement 0 0
2. Add: Total Deposits Not Credited 0 0
3. Subtract: Outstanding Checks 0 0
4. Other Reconciling Items 0 0
5. Month End Balance Per Books 0 0 0 0
6. Number of Last Check Written
INVESTMENT ACCOUNTS
DATE TYPE OF
BANK, ACCOUNT NAME & NUMBER OF PURCHASE INSTRUMENT PURCHASE PRICE CURRENT VALUE
- --------------------------- ----------- ---------- -------------- -------------
7.
8.
9.
10. (Attach List) 0 0
11. Total Investments 0 0
CASH
12. Currency On Hand 0
13. Total Cash - End of Month 0
This form does x does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 6
CASE NUMBER: 401-40786-BJH-11
MONTH: MARCH-02
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PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the Total Disbursements shown for the month, list the amount paid to Insiders
(as defined in Section 101 (31) (A) - (F) of the U.S. Bankruptcy Code) and to
Professionals. Also, for payments to Insiders, identify the type of compensation
paid (e.g. salary, bonus, commissions, insurance, housing allowance, travel, car
allowance, etc.). Attach additional sheets if necessary.
INSIDERS
TYPE OF AMOUNT TOTAL PAID
NAME PAYMENT PAID TO DATE
---- ------- ------ ----------
1.
2.
3.
4.
5. (Attach List) 0 0
6. Total Payments To Insiders 0 0
PROFESSIONALS
DATE OF
COURT ORDER TOTAL
AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED
NAME PAYMENT APPROVED PAID TO DATE & UNPAID *
---- ----------- -------- ------ ---------- ----------
1.
2.
3.
4.
5. (Attach List) 0 0 0 0
6. Total Payments To
Professionals 0 0 0 0
* Include all fees incurred, both approved and unapproved
POST PETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE
PROTECTION PAYMENTS
SCHEDULED AMOUNTS TOTAL
MONTHLY PAID UNPAID
PAYMENTS DURING POST
NAME OF CREDITOR DUE MONTH PETITION
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1. Bank of America 0 13,680,889
2.
3.
4.
5. (Attach List) 0 0 0
6. TOTAL 0 0 13,680,889
This form does x does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. ACCRUAL BASIS - 7
CASE NUMBER: 401-40786-BJH-11
MONTH: MARCH-02
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QUESTIONNAIRE
YES NO
1. Have any Assets been sold or transferred outside the normal course of business this reporting period? X
2. Have any funds been disbursed from any account other than a debtor in possession account? X
3. Are any Post Petition Receivables (accounts, notes, or loans) due from related parties? X
4. Have any payments been made on Pre Petition Liabilities this reporting period? X
5. Have any Post Petition Loans been received by the debtor from any party? X
6. Are any Post Petition Payroll Taxes past due? X
7. Are any Post Petition State or Federal Income Taxes past due? X
8. Are any Post Petition Real Estate Taxes past due? X
9. Are any other Post Petition Taxes past due? X
10. Are any amounts owed to Post Petition creditors delinquent? X
11. Have any Pre Petition Taxes been paid during the reporting period? X
12. Are any wage payments past due? X
If the answer to any of the above questions is "Yes", provide a detailed
explanation of each item. Attach additional sheets if necessary.
INSURANCE
YES NO
1. Are Worker's Compensation, General Liability and other necessary insurance coverages in effect? X
2. Are all premium payments paid current? X
3. Please itemize policies below.
If the answer to any of the above questions is "No", or if any policies have
been canceled or not renewed during this reporting period, provide an
explanation below. Attach additional sheets if necessary.
Debtor has no operations.
INSTALLMENT PAYMENTS
TYPE OF POLICY CARRIER PERIOD COVERED PAYMENT AMOUNT & FREQUENCY
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General Liability Aon Risk Services 3/1/02-9/1/02 Semi-Annual $98,598
D&O Liability Great American Insurance 11/1/2001-10/31/2004 Annual $64,657
This form does x does not have related footnotes on Footnotes Supplement.
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CASE NAME: KEVCO GP, INC. FOOTNOTES SUPPLEMENT
CASE NUMBER: 401-40786-BJH-11 ACCRUAL BASIS
MONTH: MARCH-02
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ACCRUAL
BASIS
FORM
NUMBER LINE NUMBER FOOTNOTE / EXPLANATION
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1 24 The direct charges to equity are due to the
1 32 secured debt reductions pursuant to sales of
Kevco Manufacturing, L.P.'s operating divisions,
the asset sale of the South Region of Kevco
Distribution as well as direct cash payments.
The secured debt owed to Bank of America by
Kevco, Inc. (Case No. 401-40783-BJH-11) has been
guaranteed by all of its co-debtors (See
Footnote 1,27A); therefore, the secured debt is
reflected as a liability on all of the Kevco
entities. The charge to equity is simply an
adjustment to the balance sheet.
1 27A Intercompany payables are to co-debtors Kevco
Management Co. (Case No. 401-40788-BJH-11),
Kevco Distribution, LP (Case No. 401-40789-BJH-11),
Kevco Manufacturing, LP (Case No. 401-40784-BJH-11),
Kevco Holding, Inc. (Case No. 401-40785-BJH-11),
Kevco, Inc. (Case No. 401-40783-BJH-11), DCM
Delaware, Inc. (Case No. 401-40787-BJH-11), and
Kevco Components, Inc. (Case No. 401-40790-BJH-11).