EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
IN RE FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 3/01/04 - 3/31/04
MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 45 days
after end of the period
Submit copy of report to any official committee appointed in the case.
<Table>
<Caption>
DOCUMENT EXPLANATION
REQUIRED DOCUMENTS FORM NO. ATTACHED ATTACHED
- ------------------ -------- -------- -----------
Schedule of Cash Receipts and Disbursements MOR - 1
Weekly Receipts & Disbursements A X
Cash Disbursements by Petitioning Entity B X
Bank Account Information C X
Statement of Operations MOR - 2 X
Balance Sheet MOR - 3 X
Status of Postpetition Taxes MOR - 4 X
Copies of IRS Form 6123 or payment receipt (See Tax Affidavit) X
Copies of tax returns filed during reporting period (See Tax Affidavit) X
Summary of Unpaid Postpetition Debts MOR - 4 X
Summary Accounts Receivable Aging MOR - 5 X
Debtor Questionnaire MOR - 5 X
</Table>
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
RESPONSIBLE PARTY:
/s/ Rebecca A. Roof Interim Chief Financial Officer
- ---------------------------------- ----------------------------------
Signature of Responsible Party Title
Rebecca A. Roof 5/13/2004
- ---------------------------------- ----------------------------------
Printed Name of Responsible Party Date: May 13, 2004
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
NOTES TO THE MONTHLY OPERATING REPORT
GENERAL
The report includes activity from the following Debtors and related Case
Numbers [1] [2] [3] [4]
<Table>
<Caption>
DEBTOR CASE NUMBER
- ------ -----------
INCLUDED IN FLEMING SECTION OF THE MOR AS APPLICABLE:
Fleming Companies, Inc. 03-10945
ABCO Food Group, Inc. 03-10946
ABCO Markets, Inc. 03-10947
ABCO Realty Corp. 03-10948
Favar Concepts, Ltd. 03-10953
Fleming Foods Management Co., L.L.C. 03-10954
Fleming Foods of Texas, L.P. 03-10955
Fleming International, Ltd. 03-10956
Fleming Transportation Service, Inc. 03-10957
Fleming Supermarkets of Florida, Inc. 03-10958
Food 4 Less Beverage Company, Inc. 03-10959
FuelServ, Inc. 03-10960
Piggly Wiggly Company 03-10965
Progressive Realty, Inc. 03-10966
Rainbow Food Group, Inc. 03-10967
Retail Investments, Inc. 03-10968
Retail Supermarkets, Inc. 03-10970
RFS Marketing Services, Inc. 03-10971
Richmar Foods, Inc. 03-10972
Dunigan Fuels, Inc. 03-10973
INCLUDED IN CORE-MARK SECTION OF THE MOR AS APPLICABLE:
Core-Mark International, Inc. 03-10944
ASI Office Automation, Inc. 03-10949
Core-Mark Mid-Continent, Inc. 03-10950
Core-Mark Interrelated Companies, Inc. 03-10951
C/M Products, Inc. 03-10952
General Acceptance Corporation 03-10961
Marquise Ventures Company, Inc. 03-10962
Head Distributing Company 03-10963
Minter Weisman Co. 03-10964
</Table>
NOTES:
[1] All information contained within this Monthly Operating Report is
subject to change upon further reconciliation.
[2] "the Company" refers to Fleming Companies, Inc. and its related
subsidiaries.
[3] Within this Monthly Operating Report Core-Mark's Eastern Divisions or
"Fleming 7" refers to Head Distributing Company, Minter-Weisman, and
the Marshfield, Chicago, Altoona and Leitchfield divisions included
within Fleming Companies, Inc. Of the "Fleming 7", one division
(Marshfield) was closed during 2003 and three divisions (one of the two
divisions in Head and Chicago and Altoona) were closed at the end of
2003.
[4] The Monthly Operating Report excludes financial activity related to
non-Debtor entities (i.e., Choteau Development Company, LLC, etc.).
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
WEEKLY RECEIPTS AND DISBURSEMENTS [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
CURRENT CUMULATIVE
PERIOD FILING
WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 TOTAL TO DATE
-------- -------- --------- -------- -------- --------- ------------
CASH RECEIPTS:
Fleming Receipts $ 500 633 376 213 616 $ 2,339 $ 2,459,583
Core-Mark Receipts[3] 62,102 62,523 64,710 63,030 37,106 289,470 3,834,361
Asset / Excess Inventory Sales & Other 97 52 -- -- 84 232 330,056
-------- -------- --------- -------- -------- --------- -----------
ACTUAL RECEIPTS $ 62,699 $ 63,207 $ 65,086 $ 63,243 $ 37,806 $ 292,041 $ 6,624,001
-------- -------- --------- -------- -------- --------- -----------
CASH DISBURSEMENTS FROM OPERATIONS:
Material Purchases - Fleming $ (14) (127) (3) (19) -- $ (163) $(1,620,196)
Material Purchases - Core-Mark[3] (44,607) (45,505) (48,261) (53,344) (28,647) (220,364) (2,824,594)
Tax Disbursements - Cigarettes (10,228) (9,878) (10,646) (13,941) (6,488) (51,181) (581,661)
Tax Disbursements - Other (132) (76) (146) (2) (0) (356) (13,068)
Employee & Payroll (992) (4,238) (675) (4,728) (2,688) (13,320) (369,535)
Lease & Recurring Costs (753) (237) (228) (132) (426) (1,776) (98,811)
Other Operating Costs (2,493) (3,776) (1,917) (1,991) (969) (11,146) (285,971)
-------- -------- --------- -------- -------- --------- -----------
ACTUAL CASH DISBURSEMENTS FROM OPERATIONS $(59,219) $(63,837) $ (61,875) $(74,156) $(39,218) $(298,306) $(5,793,836)
-------- -------- --------- -------- -------- --------- -----------
CASH DISBURSEMENTS FROM NON-OPERATIONS:
DSD/Critical Vendor/PACA Payments [2] $ -- -- -- -- (1,554) $ (1,554) $ (102,548)
Capital Expenditures -- -- -- -- -- -- (2,216)
Restructuring & Professional Fees (1,854) (75) (658) (4,264) (18) (6,870) (80,466)
Interest & Financing (317) (327) (164) -- -- (808) (85,057)
Other Non-Operating Costs -- -- -- -- -- -- --
Debt Repayment [4] $ (56,481) $ (56,481) $ (420,764)
-------- -------- --------- -------- -------- --------- -----------
ACTUAL CASH DISBURSEMENTS FROM
NON-OPERATIONS $ (2,171) $ (403) $ (57,303) $ (4,264) $ (1,572) $ (65,713) $ (691,050)
-------- -------- --------- -------- -------- --------- -----------
TOTAL ACTUAL DISBURSEMENTS $(61,391) $(64,239) $(119,178) $(78,420) $(40,790) $(364,019) $(6,484,887)
-------- -------- --------- -------- -------- --------- -----------
</Table>
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT PERIOD
COLUMN)
<Table>
TOTAL DISBURSEMENTS (364,019)
LESS: Transfers to Debtor in Possession Accounts --
PLUS: Estate Disbursements Made By Outside Sources (i.e. from escrow accounts) --
--------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (364,019)
</Table>
Notes
[1] Weekly Receipts and Disbursements include both Core-Mark and Fleming
for the current month. Week five contains only three business days.
[2] This Monthly Operating Report (including the periods covering April 1,
2003 through February 29, 2004 reports previously filed) includes
within the DSD/Critical Vendor/PACA Payments, among others, DSD and
PACA disbursements made to segregated escrow accounts for future
disbursement. The DSD and PACA escrow disbursements do not represent
actual DSD and PACA settlement disbursements made during the period,
only those funds set aside in escrow.
[3] All seven of the Core-Mark eastern divisions are included in the
Core-Mark amounts, although only three currently remain open.
[4] $56.4 million of pre-petition debt was paid down as follows: Revolver
$24.2 million, Term $23.8 million, and $8.5 million was set aside to
collateralize letters of credit.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
CASH DISBURSEMENTS BY PETITIONING ENTITY [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
PETITIONING ENTITIES CASE NUMBER CURRENT PERIOD TOTAL CUMULATIVE FILING TO DATE
- -------------------- ----------- -------------------- -------------------------
Core-Mark International, Inc. 03-10944 $ (201,519) $ (2,505,146)
Fleming Companies, Inc. 03-10945 (76,260) (2,596,520)
ABCO Food Group, Inc. 03-10946 -
ABCO Markets, Inc. 03-10947 -
ABCO Realty Corp. 03-10948 -
ASI Office Automation, Inc. 03-10949 -
Core-Mark Mid-Continent, Inc. 03-10950 (44,971) (550,512)
Core-Mark Interrelated Companies, Inc. 03-10951 (7,966) (92,674)
C/M Products, Inc. 03-10952 -
Favar Concepts, Ltd. 03-10953 (667)
Fleming Foods Management Co., L.L.C. 03-10954 -
Fleming Foods of Texas, L.P. 03-10955 (113,199)
Fleming International, Ltd. 03-10956 (1,399)
Fleming Transportation Service, Inc. 03-10957 124
Fleming Supermarkets of Florida, Inc. 03-10958 -
Food 4 Less Beverage Company, Inc. 03-10959 -
Fuelserv, Inc. 03-10960 -
General Acceptance Corporation 03-10961 -
Marquise Ventures Company, Inc. 03-10962 -
Head Distributing Company 03-10963 (7,723) (87,042)
Minter Weisman Co. 03-10964 (25,580) (268,477)
Piggly Wiggly Company 03-10965 (891)
Progressive Realty, Inc. 03-10966 (4)
Rainbow Food Group, Inc. 03-10967 (31,595)
Retail Investments, Inc. 03-10968 (165,252)
Retail Supermarkets, Inc. 03-10970 -
RFS Marketing Services, Inc. 03-10971 -
Richmar Foods, Inc. 03-10972 (71,566)
Dunigan Fuels, Inc. 03-10973 (67)
---------- ------------
TOTAL ACTUAL DISBURSEMENTS [2] [3] $ (364,019) $ (6,484,887)
---------- ------------
</Table>
NOTES
[1] Employee and Payroll disbursements, per the Weekly Receipts and
Disbursements schedule, were paid $1.5 million for Fleming Companies,
Inc and $11.8 million for Core-Mark International, Inc.
[2] Total cash disbursements provided by both Core-Mark and Fleming during
the period did not agree to Total Actual Disbursements on the Weekly
Receipts and Disbursement schedule. Therefore, the difference was
allocated between the Core-Mark and Fleming entities based on each
entities % of total cash disbursements prior to allocation.
[3] Total Actual Disbursements contain Core-Mark and Fleming disbursements
for the current month and for 4/1/03 through the current month for the
Cumulative Filing to Date.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BANK ACCOUNT INFORMATION
<Table>
<Caption>
PETITIONING ENTITIES BANK ACCOUNT NUMBER TYPE
- -------------------- ---- -------------- ----
Core-Mark International, Inc Bank Of Montreal 5691032070 Disbursement
Core-Mark International, Inc Bank Of Montreal 127881013601 Disbursement
Core-Mark International, Inc Bank Of Montreal 07600000313 Depository/Disbursement
Core-Mark International, Inc Bank Of Montreal 07601154963 Disbursement
Core-Mark International, Inc Bank Of Montreal 07601102397 Disbursement
Core-Mark International, Inc Bank Of Montreal 0004-1664-436 Disbursement
Core-Mark International, Inc Bank Of Montreal 07604601086 FX Swap Funding Acct
Core-Mark International, Inc JP Morgan 323252028 Depository
Core-Mark International, Inc JP Morgan Chase 9102775419 Disbursement
Core-Mark International, Inc JP Morgan Chase 9102775435 Disbursement
Core-Mark International, Inc JP Morgan Chase 9102775443 Disbursement
Core-Mark International, Inc JP Morgan Chase 9102775427 Disbursement
Core-Mark International, Inc JP Morgan Chase 601809668 Disbursement
Core-Mark International, Inc Scotia Bank 112390010715 Depository
Core-Mark International, Inc Scotia Bank 71480000914 Depository
Core-Mark International, Inc Scotia Bank 4052700104313 Depository
Core-Mark International, Inc Scotia Bank 714800001414 Depository
Core-Mark International, Inc Scotia Bank 714800011312 Depository
Core-Mark International, Inc Washington Trust Bank 1001823194 Depository
Core-Mark International, Inc Wells Fargo 4159287788 Depository
Core-Mark International, Inc Wells Fargo 4518099999 Depository
Core-Mark International, Inc Wells Fargo 4311848436 Depository
Core-Mark International, Inc Wells Fargo 4159555366 Depository
Core-Mark International, Inc Wells Fargo 4518100110 Depository
Core-Mark International, Inc Wells Fargo 4128523081 Depository
Core-Mark International, Inc Wells Fargo 4518100235 Depository
Core-Mark International, Inc Wells Fargo 4518100177 Depository
Core-Mark International, Inc Wells Fargo 4758355309 Depository
Core-Mark International, Inc Wells Fargo 4159688902 Depository
Core-Mark International, Inc Wells Fargo 4091220731 Depository
Core-Mark International, Inc Wells Fargo 4801900069 Depository
Core-Mark International, Inc Wells Fargo 4801908815 Depository
Core-Mark International, Inc Wells Fargo 4496851460 Depository
Core-Mark International, Inc Wells Fargo 4311848584 Disbursement
Core-Mark International, Inc Wells Fargo 4759613938 Disbursement
Core-Mark International, Inc Wells Fargo 4518110564 Disbursement
Core-Mark International, Inc Wells Fargo / Wachovia 540459849 Disbursement
Core-Mark International, Inc Wilson & Muir 7516436 Depository
Fleming Companies, Inc. Bank of America 3751525666 Depository
Fleming Companies, Inc. Bank of America 3751508777 Depository
Fleming Companies, Inc. Bank of America 3751022745 Depository
Fleming Companies, Inc. Bank One 10148350 Disbursement
Fleming Companies, Inc. Fleet Non Union Health 1713312 Disbursement
Fleming Companies, Inc. JP Morgan 22426761 Disbursement
Fleming Companies, Inc. JP Morgan 8806323919 Depository
Fleming Companies, Inc. JP Morgan 8806363428 Depository
Fleming Companies, Inc. JP Morgan 323252842 Depository
Fleming Companies, Inc. JP Morgan 8806247712 Depository
Fleming Companies, Inc. JP Morgan 8806232185 Depository
Fleming Companies, Inc. JP Morgan 8806232227 Depository
Fleming Companies, Inc. JP Morgan 8806258271 Depository/Disbursement
Fleming Companies, Inc. JP Morgan 8806362958 Depository/Disbursement
Fleming Companies, Inc. JP Morgan 8806170047 Disbursement
Fleming Companies, Inc. JP Morgan 8805174594 Disbursement
Fleming Companies, Inc. JP Morgan 6300030353 Disbursement
Fleming Companies, Inc. JP Morgan 6300064998 Disbursement
Head Distributing Co. Bank Of America 3752010688 Depository
Head Distributing Co. Suntrust 8801337430 Depository
Head Distributing Co. Union Planters Bank 3500594164 Depository
Minter Weisman Bank of America 3299781296 Disbursement
Plymouth (minter weisman) US Bank 160234449926 Depository
</Table>
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BANK ACCOUNT INFORMATION
<Table>
<Caption>
PETITIONING ENTITIES BANK ACCOUNT NUMBER TYPE
- -------------------- ---- -------------- ----
</Table>
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED)
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FLEMING COMPANIES, INC. & SUBSIDIARIES [1] [2] [3] MARCH 31, 2004
- -------------------------------------------------- --------------
NET SALES $ 356,494
COSTS AND EXPENSES:
Cost of sales (346,213)
Selling and administrative (9,646)
Reorganization items, net (147)
Interest expense (128)
Interest income and other 288
Impairment/restructuring charges (598)
---------
TOTAL COSTS AND EXPENSES (356,443)
---------
Income/(Loss) before income taxes 51
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM CONTINUING OPERATIONS 51
---------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (15,572)
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (15,572)
---------
---------
NET INCOME/(LOSS) $ (15,521)
---------
</Table>
NOTES
[1] Excludes ABCO Markets, Inc., ABCO Realty Corp., ASI Office Automation,
Inc., C/M Products, Inc., Fleming Foods Management Co., L.L.C., Fleming
Supermarkets of Florida, Inc., Food 4 Less Beverage Company, Inc.,
FuelServ, Inc., General Acceptance Corporation, Marquise Ventures
Company, Inc. and Retail Supermarkets, Inc. as these entities had no
activity during the period. In addition, no individual Statement of
Operations have been provided for these legal entities in the Monthly
Operating Report.
[2] Certain expenses are recorded each period using estimates, then
reviewed and adjusted at the end of a quarter (i.e., self-insurance
reserves, allowance for bad debts, etc.).
[3] Continuing Operations as of the current month includes only the
convenience business (or Core-Mark, including the Fleming 7). All other
businesses have been reclassified as Discontinued Operations as
required by SFAS 146.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
ABCO FOOD GROUP, INC. MARCH 31, 2004
- --------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
---------
TOTAL COSTS AND EXPENSES --
---------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
---------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
---------
---------
NET INCOME/(LOSS) $ --
---------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
CORE-MARK INTERNATIONAL, INC. MARCH 31, 2004
- ----------------------------- --------------
NET SALES $ 254,400
COSTS AND EXPENSES:
Cost of sales (246,958)
Selling and administrative (7,007)
Reorganization items, net (147)
Interest expense (128)
Interest income and other 233
Impairment/restructuring charges --
---------
TOTAL COSTS AND EXPENSES (254,007)
---------
Income/(Loss) before income taxes 393
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM CONTINUING OPERATIONS 393
---------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
---------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
---------
---------
NET INCOME/(LOSS) $ 393
---------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
CORE-MARK INTERRELATED COMPANIES, INC. MARCH 31, 2004
- -------------------------------------- --------------
Net sales $ 8,677
Costs and expenses:
Cost of sales (8,222)
Selling and administrative (98)
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
-------
TOTAL COSTS AND EXPENSES (8,320)
-------
Income/(Loss) before income taxes 357
Taxes on income/(loss) --
-------
INCOME/(LOSS) FROM CONTINUING OPERATIONS 357
-------
Discontinued operations:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
-------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
-------
-------
NET INCOME/(LOSS) $ 357
-------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
CORE-MARK MID-CONTINENT, INC. MARCH 31, 2004
- ----------------------------- --------------
NET SALES $ 45,687
COSTS AND EXPENSES:
Cost of sales (44,259)
Selling and administrative (941)
Reorganization items, net --
Interest expense --
Interest income and other 0
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES (45,200)
----------
Income/(Loss) before income taxes 487
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS 487
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ 487
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
DUNIGAN FUELS, INC. MARCH 31, 2004
- ------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ --
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FAVAR CONCEPTS, LTD MARCH 31, 2004
- ------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (13)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (13)
----------
----------
NET INCOME/(LOSS) $ (13)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FLEMING COMPANIES, INC. MARCH 31, 2004
- ----------------------- --------------
NET SALES $ 15,101
COSTS AND EXPENSES:
Cost of sales (14,863)
Selling and administrative (460)
Reorganization items, net --
Interest expense --
Interest income and other 8
Impairment/restructuring charges (598)
----------
TOTAL COSTS AND EXPENSES (15,912)
----------
Income/(Loss) before income taxes (812)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS (812)
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (15,418)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (15,418)
----------
----------
NET INCOME/(LOSS) $ (16,230)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FLEMING FOODS OF TEXAS, L.P. MARCH 31, 2004
- ---------------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (51)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (51)
----------
----------
NET INCOME/(LOSS) $ (51)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FLEMING INTERNATIONAL, LTD MARCH 31, 2004
- -------------------------- --------------
Net sales $ --
Costs and expenses:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
Discontinued operations:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ --
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
FLEMING TRANSPORTATION SERVICES, INC. MARCH 31, 2004
- ------------------------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ --
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
HEAD DISTRIBUTING COMPANY MARCH 31, 2004
- ------------------------- --------------
NET SALES $ 8,045
COSTS AND EXPENSES:
Cost of sales (7,866)
Selling and administrative (487)
Reorganization items, net --
Interest expense --
Interest income and other 0
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES (8,352)
----------
Income/(Loss) before income taxes (308)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS (308)
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ (308)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
MINTER-WEISMAN CO. MARCH 31, 2004
- ------------------ --------------
Net sales $ 24,584
Costs and expenses:
Cost of sales (24,046)
Selling and administrative (653)
Reorganization items, net --
Interest expense --
Interest income and other 47
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES (24,652)
----------
Income/(Loss) before income taxes (68)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS (68)
----------
Discontinued operations:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ (68)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
PIGGLY WIGGLY COMPANY MARCH 31, 2004
- --------------------- --------------
Net sales $ --
Costs and expenses:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
Discontinued operations:
Income/(Loss) before income taxes (1)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (1)
----------
----------
NET INCOME/(LOSS) $ (1)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
PROGRESSIVE REALTY, INC. MARCH 31, 2004
- ------------------------ --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ --
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
RAINBOW FOOD GROUP, INC. MARCH 31, 2004
- ------------------------ --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (91)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (91)
----------
----------
NET INCOME/(LOSS) $ (91)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
RETAIL INVESTMENTS, INC. MARCH 31, 2004
- ------------------------ --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes 3
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS 3
----------
----------
NET INCOME/(LOSS) $ 3
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
RFS MARKETING SERVICES, INC. MARCH 31, 2004
- ---------------------------- --------------
Net sales $ --
Costs and expenses:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
Discontinued operations:
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS --
----------
----------
NET INCOME/(LOSS) $ --
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
STATEMENT OF OPERATIONS (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
MARCH 1, 2004 -
RICHMAR FOODS, INC. MARCH 31, 2004
- ------------------- --------------
NET SALES $ --
COSTS AND EXPENSES:
Cost of sales --
Selling and administrative --
Reorganization items, net --
Interest expense --
Interest income and other --
Impairment/restructuring charges --
----------
TOTAL COSTS AND EXPENSES --
----------
Income/(Loss) before income taxes --
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM CONTINUING OPERATIONS --
----------
DISCONTINUED OPERATIONS:
Income/(Loss) before income taxes (2)
Taxes on income/(loss) --
----------
INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (2)
----------
----------
NET INCOME/(LOSS) $ (2)
----------
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations
for all financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED)
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FLEMING COMPANIES, INC. & SUBSIDIARIES [1] MARCH 31, 2004
- ------------------------------------------ --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents [12] $ 327,749
Receivables, net [2] 421,305
Inventories 141,930
Assets held for sale [3] 3,843
Other current assets 40,264
-----------
TOTAL CURRENT ASSETS 935,091
-----------
Investments and notes receivable, net 94
Investment in direct financing leases --
-----------
Net property and equipment 37,551
-----------
Other assets 44,327
-----------
-----------
TOTAL ASSETS $ 1,017,064
-----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable [2] $ 220,309
Liabilities held for sale [3] --
Other current liabilities 50,913
-----------
TOTAL CURRENT LIABILITIES 271,223
-----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities 6,557
Liabilities subject to compromise [4] [5] 2,305,979
Net intercompany due to (from) [6] 1,380
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share 136,221
Capital in excess of par value 710,623
Reinvested earnings (deficit) (2,401,487)
Accumulated other comprehensive income:
Additional minimum pension liability [11] (15,663)
Cumulative foreign currency translation adjustment 2,232
-----------
TOTAL SHAREHOLDERS' EQUITY $(1,568,074)
-----------
-----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,017,064
-----------
</Table>
<Table>
LIABILITIES SUBJECT TO COMPROMISE [4] [5]
Debt and notes payable [7] [8] $ 1,542,430
Accounts payable [9] [13] 444,219
Damage estimates for closed and rejected leases [10] 148,555
Other liabilities [9] [14] 37,946
Pension obligation [11] 113,354
Taxes payable [9] [15] 19,475
-----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 2,305,979
</Table>
GENERAL
[1] Excludes ABCO Markets, Inc., ABCO Realty Corp., ASI Office Automation,
Inc., C/M Products, Inc., Fleming Foods Management Co., L.L.C., Fleming
Supermarkets of Florida, Inc., Food 4 Less Beverage Company, Inc.,
FuelServ, Inc., General Acceptance Corporation, Marquise Ventures
Company, Inc. and Retail Supermarkets, Inc. as these entities had no
ending balances as of period close. In addition, no individual Balance
Sheets have been provided for these entities in the Monthly Operating
Report.
[2] The accounts receivable balance includes accounts due from customers as
well as vendor deductions for PRADS, military, advertising and other
vendor related deductions. The Company continues to reconcile such
information and additional adjustments are expected in future periods.
No amount has currently been reserved by Fleming for receivables from
vendors. Fleming continues to evaluate the recoverability of its
customer accounts receivable.
[3] Continuing Operations for the month includes only the convenience
business. The remaining fixed assets of all other businesses have been
reclassified as Assets Held for Sale as required by SFAS 146.
[4] Liabilities Subject to Compromise is comprised of prepetition long-term
debt, accounts payable, damage estimates for closed and rejected
leases, other liabilities, pension obligation and taxes payable. The
Company continues to reconcile its liabilities subject to compromise
and anticipates additional adjustments will be made in future periods..
[5] The Company has paid certain prepetition liabilities and continues to
reconcile these payments against Liabilities Subject to Compromise.
[6] The Net Intercompany Due To (From) line on the entity level balance
sheets (except for Fleming Companies, Inc.) will also include that
entity's net equity.
[7] The senior notes, convertible notes, and senior subordinated notes are
guaranteed by substantially all of Fleming's wholly-owned direct and
indirect subsidiaries. The guarantees are joint and several, full,
complete and unconditional. Within the Monthly Operating Report all
related amounts are reflected on the Fleming Companies, Inc. balance
sheet.
FLEMING ENTITIES
[8] Debt and notes payable includes bonds, revolver and term loan and
related accrued interest balances as of the current month end.
[9] Accounts payable includes trade payables and accrued expenses. Retailer
incentives (previously in accounts payable) have been reclassified to
accounts receivable. Other liabilities includes accrued compensation,
accrued severance, union pension withdrawal liabilities, other current
liabilities, deferred income, and other long-term liabilities. Taxes
payable includes income taxes and taxes other than income. Cigarette
taxes payable is included in accounts payable. The balances for these
accounts resulted from an ongoing review of these accounts. The Company
continues to reconcile these accounts and additional adjustments are
expected in future periods. See also footnote 2 above.
[10] Damage estimates for closed and rejected leases are current end of
month balances.
[11] Effective January 1, 2004, the Fleming Consolidated Pension Plan was
transferred to the Pension Benefit Guarantee Corporation (PBGC). This
resulted in a reversal of the related additional minimum pension
liability adjustment, which reduced the pension accrual in Liabilities
Subject to Compromise and reduced the Additional Minimum Pension
Liability in Accumulated Other Comprehensive Income in the equity
section. The liability subject to compromise relating to this plan on
the balance sheet is approximately $55 million whereas the current
claims by the PBGC total in excess of $300 million. The Company and its
actuaries are currently in negotiations with the PBGC regarding the
settlement of these claims.
[12] Cash and cash equivalents includes restricted cash related to the
collateralization of prepetition letters of credit totaling
approximately $68 million.
CORE-MARK ENTITIES
[13] Accounts payable includes trade payables and accrued expenses. Accounts
payable represents a review of the accounts payable trial balance. See
also footnote 2 above.
[14] Other liabilities, which include accrued compensation, other current
liabilities and other long-term liabilities, represent a review of the
applicable balance sheet account.
[15] Taxes payable includes income taxes and taxes other than income. Income
tax liability and taxes other than income represent a review of the
applicable balance sheet accounts. Cigarette taxes payable is included
in accounts payable.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
ABCO FOOD GROUP, INC. MARCH 31, 2004
- --------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets 3
----------
TOTAL CURRENT ASSETS 3
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ 3
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES --
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 1,300
Net intercompany due to (from) (1,297)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 1,300
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 1,300
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
CORE-MARK INTERNATIONAL, INC. MARCH 31, 2004
- ----------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 69,401
Receivables, net 137,463
Inventories 91,621
Assets held for sale --
Other current assets 32,671
----------
TOTAL CURRENT ASSETS 331,156
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment 18,453
----------
Other assets 35,314
----------
----------
TOTAL ASSETS $ 384,923
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 115,511
Liabilities held for sale --
Other current liabilities 14,761
----------
TOTAL CURRENT LIABILITIES 130,272
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities 5,678
Liabilities subject to compromise 81,861
Net intercompany due to (from) 167,112
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 384,923
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 77,468
Damage estimates for closed and rejected leases --
Other liabilities 70
Pension obligation 4,270
Taxes payable 52
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 81,861
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
CORE-MARK INTERRELATED COMPANIES, INC. MARCH 31, 2004
- -------------------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 2,435
Inventories 6,979
Assets held for sale --
Other current assets 58
----------
TOTAL CURRENT ASSETS 9,473
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment 297
----------
Other assets --
----------
----------
TOTAL ASSETS $ 9,770
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 203
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 203
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 5,207
Net intercompany due to (from) 4,360
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 9,770
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 5,207
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,207
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
CORE-MARK MID-CONTINENT, INC. MARCH 31, 2004
- ----------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 23,011
Inventories 18,799
Assets held for sale --
Other current assets 3,154
----------
TOTAL CURRENT ASSETS 44,964
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment 11,152
----------
Other assets 2,250
----------
----------
TOTAL ASSETS $ 58,366
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 2,686
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 2,686
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 5,329
Net intercompany due to (from) 50,351
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 58,366
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 5,298
Damage estimates for closed and rejected leases --
Other liabilities 31
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,329
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
DUNIGAN FUELS, INC. MARCH 31, 2004
- ------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 2,941
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS 2,941
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ 2,941
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES --
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities 81
Liabilities subject to compromise 7,867
Net intercompany due to (from) (5,006)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 2,941
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 7,267
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable 600
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 7,867
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FAVAR CONCEPTS, LTD MARCH 31, 2004
- ------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS --
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ --
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES --
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 1,249
Net intercompany due to (from) (1,249)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ --
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 542
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable 706
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 1,249
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FLEMING COMPANIES, INC. MARCH 31, 2004
- ----------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents [3] $ 257,599
Receivables, net 196,202
Inventories 7,774
Assets held for sale 3,840
Other current assets 1,893
-----------
TOTAL CURRENT ASSETS 467,308
-----------
Investments and notes receivable, net 94
Investment in direct financing leases --
-----------
Net property and equipment 3,632
-----------
Other assets 5,322
-----------
-----------
TOTAL ASSETS $ 476,356
-----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 95,646
Liabilities held for sale --
Other current liabilities 35,717
-----------
TOTAL CURRENT LIABILITIES 131,363
-----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities 798
Liabilities subject to compromise 2,145,219
Net intercompany due to (from) (232,951)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share 136,221
Capital in excess of par value 710,623
Reinvested earnings (deficit) (2,401,487)
Accumulated other comprehensive income: --
Additional minimum pension liability [2] (15,663)
Cumulative foreign currency translation adjustment 2,232
-----------
TOTAL SHAREHOLDERS' EQUITY $(1,568,074)
-----------
-----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 476,356
-----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ 1,542,430
Accounts payable 295,189
Damage estimates for closed and rejected leases 148,555
Other liabilities 35,425
Pension obligation [2] 109,084
Taxes payable 14,536
-----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 2,145,219
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
[2] Effective January 1, 2004, the Fleming Consolidated Pension Plan was
transferred to the Pension Benefit Guarantee Corporation (PBGC). This
resulted in a reversal of the related additional minimum pension
liability adjustment, which reduced the pension accrual in Liabilities
Subject to Compromise and reduced the Additional Minimum Pension
Liability in Accumulated Other Comprehensive Income in the equity
section. The liability subject to compromise relating to this plan on
the balance sheet is approximately $55 million whereas the current
claims by the PBGC total in excess of $300 million. The Company and its
actuaries are currently in negotiations with the PBGC regarding the
settlement of these claims.
[3] Cash and cash equivalents includes restricted cash related to the
collateralization of prepetition letters of credit totaling
approximately $68 million.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FLEMING FOODS OF TEXAS, L.P. MARCH 31, 2004
- ---------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 25,038
Inventories --
Assets held for sale --
Other current assets 21
----------
TOTAL CURRENT ASSETS 25,058
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets 4
----------
----------
TOTAL ASSETS $ 25,062
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 505
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 505
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 14,694
Net intercompany due to (from) 9,864
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 25,062
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 12,693
Damage estimates for closed and rejected leases --
Other liabilities 305
Pension obligation --
Taxes payable 1,696
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 14,694
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FLEMING INTERNATIONAL, LTD MARCH 31, 2004
- -------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 190
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS 190
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ 190
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES --
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise --
Net intercompany due to (from) 190
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 190
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable --
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
FLEMING TRANSPORTATION SERVICES, INC. MARCH 31, 2004
- ------------------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS --
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ --
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 6
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 6
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 252
Net intercompany due to (from) (259)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ --
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 252
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 252
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
HEAD DISTRIBUTING COMPANY MARCH 31, 2004
- ------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 312
Receivables, net 9,833
Inventories 3,899
Assets held for sale 3
Other current assets 705
----------
TOTAL CURRENT ASSETS 14,751
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment 1,698
----------
Other assets 1,330
----------
----------
TOTAL ASSETS $ 17,780
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 1,167
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 1,167
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 6,309
Net intercompany due to (from) 10,304
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,780
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 6,309
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 6,309
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
MINTER-WEISMAN CO. MARCH 31, 2004
- ------------------ --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 437
Receivables, net 11,365
Inventories 12,859
Assets held for sale --
Other current assets 984
----------
TOTAL CURRENT ASSETS 25,645
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment 2,318
----------
Other assets 29
----------
----------
TOTAL ASSETS $ 27,993
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 2,981
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 2,981
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 5,502
Net intercompany due to (from) 19,510
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 27,993
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 5,502
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,502
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
PIGGLY WIGGLY COMPANY MARCH 31, 2004
- --------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 456
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS 456
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ 456
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 149
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 149
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 320
Net intercompany due to (from) (14)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 456
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 319
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable 1
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 320
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
PROGRESSIVE REALTY, INC. MARCH 31, 2004
- ------------------------ --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS --
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ --
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities 301
----------
TOTAL CURRENT LIABILITIES 301
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 9
Net intercompany due to (from) (311)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ --
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 9
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 9
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
RAINBOW FOOD GROUP, INC. MARCH 31, 2004
- ------------------------ --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 4,839
Inventories --
Assets held for sale --
Other current assets 23
----------
TOTAL CURRENT ASSETS 4,862
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets 79
----------
----------
TOTAL ASSETS $ 4,941
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 638
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES 638
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 19,793
Net intercompany due to (from) (15,490)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 4,941
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 19,793
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 19,793
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
RETAIL INVESTMENTS, INC. MARCH 31, 2004
- ------------------------ --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS --
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ --
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ --
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES --
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise --
Net intercompany due to (from) --
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ --
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable --
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
RFS MARKETING SERVICES, INC. MARCH 31, 2004
- ---------------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net --
Inventories --
Assets held for sale --
Other current assets --
----------
TOTAL CURRENT ASSETS --
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ --
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ (8)
Liabilities held for sale --
Other current liabilities --
----------
TOTAL CURRENT LIABILITIES (8)
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise --
Net intercompany due to (from) 8
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ --
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable --
Damage estimates for closed and rejected leases --
Other liabilities --
Pension obligation --
Taxes payable --
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
BALANCE SHEET (UNAUDITED) [1]
(DOLLARS IN 000'S)
<Table>
<Caption>
AS OF
RICHMAR FOODS, INC. MARCH 31, 2004
- ------------------- --------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ --
Receivables, net 7,531
Inventories --
Assets held for sale --
Other current assets 753
----------
TOTAL CURRENT ASSETS 8,284
----------
Investments and notes receivable, net --
Investment in direct financing leases --
----------
Net property and equipment --
----------
Other assets --
----------
----------
TOTAL ASSETS $ 8,284
----------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 824
Liabilities held for sale --
Other current liabilities 134
----------
TOTAL CURRENT LIABILITIES 958
----------
Long-term debt --
Long-term obligations under capital leases --
Other liabilities --
Liabilities subject to compromise 11,068
Net intercompany due to (from) (3,743)
SHAREHOLDERS' EQUITY:
Common stock, $2.50 par value per share
Capital in excess of par value
Reinvested earnings (deficit)
Accumulated other comprehensive income: --
Additional minimum pension liability
Cumulative foreign currency translation adjustment
----------
TOTAL SHAREHOLDERS' EQUITY $ --
----------
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 8,284
----------
LIABILITIES SUBJECT TO COMPROMISE
Debt and notes payable $ --
Accounts payable 7,070
Damage estimates for closed and rejected leases --
Other liabilities 2,115
Pension obligation --
Taxes payable 1,883
----------
TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 11,068
</Table>
NOTES
[1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all
financial statement footnotes.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
(DOLLARS IN 000'S)
STATUS OF POSTPETITION TAXES
The beginning tax liability should be the ending liability from the prior month
or, if this is the first report, the amount should be zero.
<Table>
<Caption>
FLEMING [9] BEGINNING AMOUNT ENDING
TAX WITHHELD OR AMOUNT TAX
LIABILITY ACCRUED PAID [9] LIABILITY
--------- ----------- --------- ---------
FEDERAL
Payroll Taxes [1] $ -- $ -- $ -- $ --
Income [10] $ 201 (49) 152
TOTAL FEDERAL TAXES $ 201 $ -- $ (49) $ 152
STATE AND LOCAL
Payroll Taxes [1] $ -- $ -- $ -- $ --
Sales [2] $ -- -- -- --
Excise [2] $ 130 -- 14 144
Real & Personal Property [3] $ 2,441 -- 2,441
Cigarette & Tobacco [4] $ -- -- -- --
Franchise [2] $ 411 -- 411
Total State and Local $ 2,982 $ -- $ 14 $ 2,996
TOTAL TAXES $ 3,183 $ -- $ (35) $ 3,148
</Table>
<Table>
<Caption>
CORE-MARK [9] BEGINNING AMOUNT ENDING
TAX WITHHELD OR AMOUNT TAX
LIABILITY ACCRUED PAID LIABILITY
--------- ----------- --------- ---------
FEDERAL
Payroll Taxes [1] $ 212 $ 2,408 $ (2,315) $ 305
Income [10] $ 237 -- -- 237
TOTAL FEDERAL TAXES $ 449 $ 2,408 $ (2,315) $ 542
STATE AND LOCAL
Payroll Taxes [1] $ 7 $ 302 $ (306) $ 3
Sales $ 11 54 (48) 17
Excise $ 353 224 (163) 414
Real & Personal Property [3] $ 660 229 (107) 782
Cigarette & Tobacco $ 37,819 98,436 (102,103) 34,151
Other: GST [5] $ 3,951 2,618 (4,400) 2,169
Other: Spokane & Portland B&O Tax [6] $ 47 58 (47) 58
Total State and Local $ 42,848 $ 101,921 $(107,174) $ 37,594
TOTAL TAXES $ 43,297 $ 104,329 $(109,489) $ 38,136
</Table>
SUMMARY OF UNPAID POSTPETITION DEBTS
<Table>
<Caption>
FLEMING ACCOUNTS PAYABLE AGING (IN THOUSANDS) AMOUNT
- --------------------------------------------- ------
Current $ --
0 - 30 days [7] 97,761
31 - 60 days --
61 - 90 days --
91+ days --
Total Accounts Payable [8] $ 97,761
</Table>
<Table>
<Caption>
CORE-MARK ACCOUNTS PAYABLE AGING (IN THOUSANDS) AMOUNT
- --------------------------------------------- ------
Current $ --
0 - 30 days [7] 122,548
31 - 60 days --
61 - 90 days --
91+ days --
Total Accounts Payable [8] $ 122,548
</Table>
EXPLAIN HOW AND WHEN THE DEBTOR INTENDS TO PAY ANY PAST-DUE POSTPETITION DEBTS.
Fleming Companies, Inc. and its related subsidiaries do not have material past
due postpetition debts. However, those debts that are past due will be paid
through the ordinary course of business. Further, Fleming Companies, Inc.
anticipates it will incur certain contract cure costs related to those contracts
assigned to C&S Wholesale Grocers, Inc. as a result of the sale of Fleming
Companies, Inc.'s wholesale grocery operations.
NOTES
[1] Payroll taxes include all employer and employee payroll related items
withheld and accrued.
[2] Sales, Excise and Franchise postpetition taxes are calculated by adding
to the previous months balance the net accrual increase or decrease in
the current month.
[3] Fleming's postpetition real and personal property taxes include 275/365
of 2003 (April 2003 through December 2003) taxes and 2004 taxes.
Additionally, Core-Mark's real and personal property taxes excludes
Plymouth as it is included in Fleming. All other Eastern divisions are
included in Core-Mark.
[4] There is no longer an accrual or expense related to cigarette and
tobacco taxes as all the applicable Fleming entities have been closed
or sold.
[5] GST refers to Canadian Goods and Service Taxes.
[6] B&O tax refers to Business and Occupational taxes for Spokane and
Portland only.
[7] Fleming and Core-Mark were unable to provide an Accounts Payable Aging.
Therefore, Accounts Payable is shown as 30 days old. Core-Mark's aging
includes Head and Minter-Weisman and Fleming's includes the four
convenience divisions that are part of Fleming Companies, Inc.
[8] Accounts Payable per the Balance Sheet includes trade accounts payable
and other accrued expenses. See footnote [2] on Form MOR-5.
[9] Amount Paid represents amounts paid, amounts received and other
adjustments during the period.
[10] The Federal Income Tax category includes balances and activity for both
Federal and State.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
(DOLLARS IN 000'S)
ACCOUNTS RECEIVABLE AGINGS
<Table>
<Caption>
FLEMING ACCOUNTS RECEIVABLE AGING [1] [2] AMOUNT
- ----------------------------------------- ------
Not Due $ 2,865
Current 6,450
1 - 7 days old 593
8 - 14 days old 593
15 - 21 days old 593
+ Over 21 days 305,048
Credits Over 21 days [6] --
Total Accounts Receivable $ 316,142
Amount considered uncollectible (Bad Debt) [3] (78,945)
Accounts Receivable (Net) $ 237,197
</Table>
<Table>
<Caption>
CORE-MARK ACCOUNTS RECEIVABLE AGING [1] [4] AMOUNT
- ------------------------------------------- ------
Current $ 165,684
1 - 30 days old 15,849
31 - 45 days old 1,051
40 - 60 days old 765
61 - 90 days old 343
91 - 120 days old 436
+ Over 120 days 4,183
Total Accounts Receivable $ 188,311
Amount considered uncollectible (Bad Debt) [3] (4,203)
Accounts Receivable (Net) $ 184,108
</Table>
DEBTOR QUESTIONNAIRE
<Table>
<Caption>
MUST BE COMPLETED EACH MONTH YES NO
- ---------------------------- --- --
1. Have any assets been sold or transferred outside the normal course X
of business this reporting period?
If yes, provide an explanation below.[5]
2. Have any funds been disbursed from any account other than a debtor X
in possession account this reporting period?
If yes, provide an explanation below.
3. Have all postpetition tax returns been timely filed? X
If no, provide an explanation below.
4. Are workers compensation, general liability and other necessary X
insurance coverages in effect?
If no, provide an explanation below.
</Table>
NOTES
[1] Of the Core-Mark's 7 Eastern divisions ("Fleming 7"), Core-Mark's
accounts receivable aging includes Head and Minter-Weisman and
Fleming's accounts receivable aging includes the four convenience
divisions that are part of Fleming Companies, Inc. Four of the seven
divisions were closed in 2003. In cases where detail accounts
receivable amounts are not available, the amount is allocated to the
aging brackets based on each brackets percentage of the total aged
accounts receivable amount.
[2] In addition to the aging of customer accounts receivable, a large
portion of the Fleming receivable balance is from reclassifying vendor
deductions from accounts payable, which has been listed as over 21
days. No amount has currently been reserved for these receivables from
vendors. Also included in accounts receivable are royalties related to
the sale of the wholesale business, which have been listed as "not
due".
[3] Amount considered uncollectible (Bad Debt) is per the general ledger
for all entities as the end of the current month.
[4] Core-Mark's Accounts Receivable Aging total differed from the general
ledger total due to timing differences and adjustments, including
reclassifying vendor deductions from accounts payable. The receivable
balance not supported by an aging was listed as current.
[5] During the month, Fleming sold miscellaneous parcels of land totaling
approximately $65 thousand.
[6] Due to changes in the operating system, the dollar amount of credits
that are included in the total aged accounts receivable balance is not
available.
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: 03/01/04 - 03/31/04
If additional information is required for the current or any future Monthly
Operating Reports, please send the request to Rebecca A. Roof at Fleming
Companies (1945 Lakepointe Dr.; Lewisville, TX 75057).
ERNST & Young LLP 2121 San Jacinto Street, Suite 1500 Dallas Office
Dallas TX 75201 Phone (214) 969-8000
Facsimile (214) 969-9770
FLEMING COMPANIES, INC. ET AL.
CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED)
REPORTING PERIOD: MARCH 1, 2004 TO MARCH 31, 2004
TAX AFFIDAVIT
By order of this Court dated May 6, 2003, Ernst & Young (E&Y) has been retained
to provide certain tax services to the Debtors (the "Tax Services"). E&Y
provided the Tax Services pursuant to the terms and conditions set forth in the
engagement letter attached hereto as Ex. A which was allowed under the May 6,
2003 Bankruptcy Court Order of E&Y retention. Pursuant to this retention order,
E&Y assists the Debtor with the following tax services during the reporting
period on behalf of Fleming Companies, Inc. and affiliates ("the Debtor"):
o Prepare certain federal income, state income, state franchise,
gross receipts and net worth tax returns and provide them to
management of the Debtor for signature;
o Prepare certain sales, excise, and use tax returns for U.S.,
state and local governments and provide them to management of
the Debtor for filing;
o Provide certain property tax returns prepared by third party
consultants to management of the Debtor for filing;
o Prepare certain property tax returns and provide them to
management of the Debtor for filing; and
o Update a tax filing calendar for certain income, franchise,
sales and use, cigarette, tobacco, and other miscellaneous
taxes, and business license filings and provide it to Debtor's
management for review and approval.
The Debtor's management is responsible for establishing and maintaining its tax
system and procedures.
During the reporting period, all returns were timely filed with the appropriate
jurisdictions.
To the best of my knowledge, E&Y has completed the above mentioned activities
related to the tax returns covered by the engagement letter which are required
to be prepared or filed by the Fleming Companies, Inc. and its affiliates during
the reporting period referenced above.
May 5, 2004 /s/ LISA P. SHIELD
- ----------------------------- -----------------------------
Date Lisa P. Shield, Partner