Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Information (Tables)

v3.2.0.727
Condensed Consolidating Information (Tables)
6 Months Ended
Aug. 01, 2015
Condensed Consolidating Information  
Condensed Consolidating Balance Sheet

 

 

Condensed Consolidating Balance Sheet

August 1, 2015

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

21,430

 

$

2,924

 

$

49,049

 

$

 

$

73,403

 

Accounts receivable, net

 

24,846

 

401,294

 

31,857

 

(387,605

)

70,392

 

Inventories

 

254,232

 

559,884

 

142,860

 

 

956,976

 

Other current assets

 

91,236

 

54,256

 

7,858

 

 

153,350

 

Total current assets

 

391,744

 

1,018,358

 

231,624

 

(387,605

)

1,254,121

 

Property and equipment, net

 

304,750

 

208,356

 

38,814

 

 

551,920

 

Rental product, net

 

121,776

 

7,338

 

18,923

 

 

148,037

 

Goodwill

 

6,159

 

837,532

 

47,625

 

 

891,316

 

Intangible assets, net

 

239

 

639,745

 

21,989

 

 

661,973

 

Investments in subsidiaries

 

2,454,012

 

 

 

(2,454,012

)

 

Other assets

 

41,426

 

860

 

9,131

 

(42,432

)

8,985

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

3,320,106

 

$

2,712,189

 

$

368,106

 

$

(2,884,049

)

$

3,516,352

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

425,968

 

$

98,494

 

$

39,703

 

$

(387,605

)

$

176,560

 

Accrued expenses and other current liabilities

 

144,116

 

102,689

 

23,897

 

 

270,702

 

Current maturities of long-term debt

 

7,000

 

 

 

 

7,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

577,084

 

201,183

 

63,600

 

(387,605

)

454,262

 

Long-term debt, net

 

1,649,487

 

 

33,432

 

(33,432

)

1,649,487

 

Deferred taxes and other liabilities

 

74,560

 

316,706

 

11,362

 

(9,000

)

393,628

 

Shareholders’ equity

 

1,018,975

 

2,194,300

 

259,712

 

(2,454,012

)

1,018,975

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

3,320,106

 

$

2,712,189

 

$

368,106

 

$

(2,884,049

)

$

3,516,352

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Balance Sheet

August 2, 2014

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

5,652

 

$

14,107

 

$

47,476

 

$

 

$

67,235

 

Accounts receivable, net

 

16,985

 

353,011

 

46,028

 

(326,829

)

89,195

 

Inventories

 

259,736

 

631,128

 

153,656

 

 

1,044,520

 

Other current assets

 

72,829

 

19,070

 

7,845

 

 

99,744

 

Total current assets

 

355,202

 

1,017,316

 

255,005

 

(326,829

)

1,300,694

 

Property and equipment, net

 

301,073

 

232,397

 

40,441

 

 

573,911

 

Rental product, net

 

116,236

 

7,880

 

22,348

 

 

146,464

 

Goodwill

 

6,159

 

814,953

 

53,843

 

 

874,955

 

Intangible assets, net

 

347

 

649,778

 

26,736

 

 

676,861

 

Investments in subsidiaries

 

2,421,487

 

 

 

(2,421,487

)

 

Other assets

 

69,493

 

678

 

10,282

 

(70,104

)

10,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

3,269,997

 

$

2,723,002

 

$

408,655

 

$

(2,818,420

)

$

3,583,234

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

337,066

 

$

163,187

 

$

41,342

 

$

(326,829

)

$

214,766

 

Accrued expenses and other current liabilities

 

146,531

 

102,378

 

26,266

 

 

275,175

 

Current maturities of long-term debt

 

11,000

 

 

 

 

11,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

494,597

 

265,565

 

67,608

 

(326,829

)

500,941

 

Long-term debt, net

 

1,636,831

 

 

59,906

 

(59,906

)

1,636,831

 

Deferred taxes and other liabilities

 

86,520

 

304,542

 

12,549

 

(10,198

)

393,413

 

Shareholders’ equity:

 

 

 

 

 

 

 

 

 

 

 

Controlling interest

 

1,037,630

 

2,152,895

 

254,173

 

(2,407,068

)

1,037,630

 

Non-controlling interest

 

14,419

 

 

14,419

 

(14,419

)

14,419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total shareholders’ equity

 

1,052,049

 

2,152,895

 

268,592

 

(2,421,487

)

1,052,049

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

3,269,997

 

$

2,723,002

 

$

408,655

 

$

(2,818,420

)

$

3,583,234

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Balance Sheet

January 31, 2015

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

18,262

 

$

4,857

 

$

39,142

 

$

 

$

62,261

 

Accounts receivable, net

 

20,304

 

422,930

 

35,303

 

(405,271

)

73,266

 

Inventories

 

285,309

 

510,651

 

142,376

 

 

938,336

 

Other current assets

 

105,507

 

58,792

 

5,510

 

 

169,809

 

Total current assets

 

429,382

 

997,230

 

222,331

 

(405,271

)

1,243,672

 

Property and equipment, net

 

306,597

 

221,454

 

38,023

 

 

566,074

 

Rental product, net

 

107,908

 

8,318

 

16,446

 

 

132,672

 

Goodwill

 

6,159

 

834,470

 

47,307

 

 

887,936

 

Intangible assets, net

 

293

 

645,388

 

22,578

 

 

668,259

 

Investments in subsidiaries

 

2,405,680

 

 

 

(2,405,680

)

 

Other assets

 

42,279

 

681

 

9,671

 

(43,032

)

9,599

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

3,298,298

 

$

2,707,541

 

$

356,356

 

$

(2,853,983

)

$

3,508,212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

449,102

 

$

120,499

 

$

45,537

 

$

(405,271

)

$

209,867

 

Accrued expenses and other current liabilities

 

145,943

 

101,363

 

23,238

 

 

270,544

 

Current maturities of long-term debt

 

11,000

 

 

 

 

11,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

606,045

 

221,862

 

68,775

 

(405,271

)

491,411

 

Long-term debt, net

 

1,637,686

 

 

33,432

 

(33,432

)

1,637,686

 

Deferred taxes and other liabilities

 

84,778

 

323,376

 

10,772

 

(9,600

)

409,326

 

Shareholders’ equity

 

969,789

 

2,162,303

 

243,377

 

(2,405,680

)

969,789

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

3,298,298

 

$

2,707,541

 

$

356,356

 

$

(2,853,983

)

$

3,508,212

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statement of Earnings

 

 

 

Condensed Consolidating Statement of Earnings

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Three months ended August 1, 2015:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

469,036

 

$

478,091

 

$

119,688

 

$

(146,741

)

$

920,074

 

Cost of sales

 

228,329

 

349,705

 

70,100

 

(146,741

)

501,393

 

Gross margin

 

240,707

 

128,386

 

49,588

 

 

418,681

 

Operating expenses

 

182,759

 

109,689

 

33,126

 

(5,016

)

320,558

 

Operating income

 

57,948

 

18,697

 

16,462

 

5,016

 

98,123

 

Other income and expenses, net

 

4,002

 

1,014

 

 

(5,016

)

 

Interest income

 

593

 

851

 

39

 

(1,421

)

62

 

Interest expense

 

(27,204

)

(475

)

(277

)

1,421

 

(26,535

)

Earnings before income taxes

 

35,339

 

20,087

 

16,224

 

 

71,650

 

Provision for income taxes

 

9,578

 

8,208

 

6,085

 

 

23,871

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before equity in net income of subsidiaries

 

25,761

 

11,879

 

10,139

 

 

47,779

 

Equity in earnings of subsidiaries

 

22,018

 

 

 

(22,018

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to common shareholders

 

$

47,779

 

$

11,879

 

$

10,139

 

$

(22,018

)

$

47,779

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

$

42,880

 

$

11,879

 

$

5,699

 

$

(17,578

)

$

42,880

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended August 2, 2014:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

449,105

 

$

345,413

 

$

133,599

 

$

(125,039

)

$

803,078

 

Cost of sales

 

216,917

 

274,927

 

77,731

 

(125,039

)

444,536

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

232,188

 

70,486

 

55,868

 

 

358,542

 

Operating expenses

 

213,660

 

69,316

 

36,823

 

(3,961

)

315,838

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

18,528

 

1,170

 

19,045

 

3,961

 

42,704

 

Other income and expenses, net

 

2,811

 

1,150

 

 

(3,961

)

 

Interest income

 

508

 

181

 

97

 

(667

)

119

 

Interest expense

 

(13,328

)

(178

)

(354

)

667

 

(13,193

)

Loss on extinguishment of debt

 

(2,158

)

 

 

 

(2,158

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

6,361

 

2,323

 

18,788

 

 

27,472

 

Provision for income taxes

 

5,167

 

5,172

 

4,765

 

 

15,104

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before equity in net income of subsidiaries

 

1,194

 

(2,849

)

14,023

 

 

12,368

 

Equity in earnings of subsidiaries

 

11,174

 

 

 

(11,174

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) including non-controlling interest

 

12,368

 

(2,849

)

14,023

 

(11,174

)

12,368

 

Net earnings attributable to non-controlling interest

 

(112

)

 

(112

)

112

 

(112

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

 

$

12,256

 

$

(2,849

)

$

13,911

 

$

(11,062

)

$

12,256

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

$

12,334

 

$

(2,849

)

$

13,722

 

$

(10,873

)

$

12,334

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statement of Earnings

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Six months ended August 1, 2015:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

924,530

 

$

920,640

 

$

219,449

 

$

(259,456

)

$

1,805,163

 

Cost of sales

 

459,779

 

669,455

 

135,152

 

(259,456

)

1,004,930

 

Gross margin

 

464,751

 

251,185

 

84,297

 

 

800,233

 

Operating expenses

 

376,784

 

216,971

 

61,162

 

(8,096

)

646,821

 

Operating income

 

87,967

 

34,214

 

23,135

 

8,096

 

153,412

 

Other income and expenses, net

 

7,082

 

1,014

 

 

(8,096

)

 

Interest income

 

1,149

 

1,669

 

63

 

(2,791

)

90

 

Interest expense

 

(54,301

)

(956

)

(552

)

2,791

 

(53,018

)

Loss on extinguishment of debt

 

(12,675

)

 

 

 

(12,675

)

Earnings before income taxes

 

29,222

 

35,941

 

22,646

 

 

87,809

 

Provision for income taxes

 

9,628

 

12,088

 

7,945

 

 

29,661

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before equity in net income of subsidiaries

 

19,594

 

23,853

 

14,701

 

 

58,148

 

Equity in earnings of subsidiaries

 

38,554

 

 

 

(38,554

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to common shareholders

 

$

58,148

 

$

23,853

 

$

14,701

 

$

(38,554

)

$

58,148

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

$

59,709

 

$

23,853

 

$

16,347

 

$

(40,200

)

$

59,709

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended August 2, 2014:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

868,453

 

$

598,071

 

$

234,682

 

$

(267,654

)

$

1,433,552

 

Cost of sales

 

430,132

 

485,740

 

143,428

 

(267,654

)

791,646

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

438,321

 

112,331

 

91,254

 

 

641,906

 

Operating expenses

 

415,030

 

97,644

 

66,590

 

(7,343

)

571,921

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

23,291

 

14,687

 

24,664

 

7,343

 

69,985

 

Other income and expenses, net

 

5,819

 

1,524

 

 

(7,343

)

 

Interest income

 

985

 

331

 

154

 

(1,290

)

180

 

Interest expense

 

(14,611

)

(330

)

(677

)

1,290

 

(14,328

)

Loss on extinguishment of debt

 

(2,158

)

 

 

 

(2,158

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

13,326

 

16,212

 

24,141

 

 

53,679

 

Provision for income taxes

 

12,175

 

6,781

 

5,897

 

 

24,853

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before equity in net income of subsidiaries

 

1,151

 

9,431

 

18,244

 

 

28,826

 

Equity in earnings of subsidiaries

 

27,675

 

 

 

(27,675

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings including non-controlling interest

 

28,826

 

9,431

 

18,244

 

(27,675

)

28,826

 

Net earnings attributable to non-controlling interest

 

(84

)

 

(84

)

84

 

(84

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to common shareholders

 

$

28,742

 

$

9,431

 

$

18,160

 

$

(27,591

)

$

28,742

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

$

34,811

 

$

9,431

 

$

24,151

 

$

(33,582

)

$

34,811

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statement of Cash Flows

 

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended August 1, 2015

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net cash provided by operating activities

 

$

69,258

 

$

10,833

 

$

14,823

 

$

 

$

94,914

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

(38,583

)

(12,918

)

(5,263

)

 

(56,764

)

Net cash used in investing activities

 

(38,583

)

(12,918

)

(5,263

)

 

(56,764

)

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Payments on new term loan

 

(4,500

)

 

 

 

(4,500

)

Proceeds from asset-based revolving credit facility

 

5,500

 

 

 

 

5,500

 

Payments on asset-based revolving credit facility

 

(5,500

)

 

 

 

(5,500

)

Deferred financing costs

 

(3,566

)

 

 

 

(3,566

)

Cash dividends paid

 

(17,561

)

 

 

 

(17,561

)

Proceeds from issuance of common stock

 

1,961

 

 

 

 

1,961

 

Tax payments related to vested deferred stock units

 

(4,506

)

 

 

 

(4,506

)

Excess tax benefits from share-based plans

 

942

 

152

 

 

 

1,094

 

Repurchases of common stock

 

(277

)

 

 

 

(277

)

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used in) provided by financing activities

 

(27,507

)

152

 

 

 

(27,355

)

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes

 

 

 

347

 

 

347

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash and cash equivalents

 

3,168

 

(1,933

)

9,907

 

 

11,142

 

Cash and cash equivalents at beginning of period

 

18,262

 

4,857

 

39,142

 

 

62,261

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of period

 

$

21,430

 

$

2,924

 

$

49,049

 

$

 

$

73,403

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statement of Cash Flows

For the Six Months Ended August 2, 2014

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net cash provided by (used in) operating activities

 

$

331,348

 

$

(327,598

)

$

10,129

 

$

 

$

13,879

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

(32,107

)

(4,696

)

(4,034

)

 

(40,837

)

Acquisition of business, net of cash

 

(1,820,308

)

328,915

 

 

 

(1,491,393

)

Net cash (used in) provided by investing activities

 

(1,852,415

)

324,219

 

(4,034

)

 

(1,532,230

)

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Proceeds from new term loan

 

1,089,000

 

 

 

 

1,089,000

 

Payments on previous term loan

 

(97,500

)

 

 

 

(97,500

)

Proceeds from asset-based revolving credit facility

 

340,000

 

 

 

 

340,000

 

Payments on asset-based revolving credit facility

 

(340,000

)

 

 

 

(340,000

)

Proceeds from issuance of senior notes

 

600,000

 

 

 

 

600,000

 

Deferred financing costs

 

(50,938

)

 

 

 

(50,938

)

Cash dividends paid

 

(17,460

)

 

 

 

(17,460

)

Proceeds from issuance of common stock

 

6,167

 

 

 

 

6,167

 

Tax payments related to vested deferred stock units

 

(6,869

)

 

 

 

(6,869

)

Excess tax benefits from share-based plans

 

3,156

 

531

 

 

 

3,687

 

Repurchases of common stock

 

(251

)

 

 

 

(251

)

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by financing activities

 

1,525,305

 

531

 

 

 

1,525,836

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes

 

 

 

498

 

 

498

 

 

 

 

 

 

 

 

 

 

 

 

 

Increase (decrease) in cash and cash equivalents

 

4,238

 

(2,848

)

6,593

 

 

7,983

 

Cash and cash equivalents at beginning of period

 

1,414

 

16,955

 

40,883

 

 

59,252

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of period

 

$

5,652

 

$

14,107

 

$

47,476

 

$

 

$

67,235