Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Information (Tables)

v3.3.1.900
Condensed Consolidating Information (Tables)
9 Months Ended
Oct. 31, 2015
Condensed Consolidating Information  
Condensed Consolidating Balance Sheet

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Balance Sheet

October 31, 2015

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

771

 

$

2,128

 

$

50,755

 

$

 

$

53,654

 

Accounts receivable, net

 

21,452

 

353,807

 

33,203

 

(341,560

)

66,902

 

Inventories

 

252,520

 

652,080

 

155,647

 

 

1,060,247

 

Other current assets

 

90,352

 

69,646

 

8,073

 

 

168,071

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current assets

 

365,095

 

1,077,661

 

247,678

 

(341,560

)

1,348,874

 

Property and equipment, net

 

311,313

 

197,503

 

39,665

 

 

548,481

 

Rental product, net

 

121,983

 

7,150

 

18,211

 

 

147,344

 

Goodwill

 

6,159

 

837,532

 

47,300

 

 

890,991

 

Intangible assets, net

 

213

 

546,937

 

21,021

 

 

568,171

 

Investments in subsidiaries

 

2,418,994

 

 

 

(2,418,994

)

 

Other assets

 

40,961

 

858

 

8,831

 

(42,132

)

8,518

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

3,264,718

 

$

2,667,641

 

$

382,706

 

$

(2,802,686

)

$

3,512,379

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

399,292

 

$

128,803

 

$

46,985

 

$

(341,560

)

$

233,520

 

Accrued expenses and other current liabilities

 

146,102

 

111,308

 

21,801

 

 

279,211

 

Current maturities of long-term debt

 

7,000

 

 

 

 

7,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

552,394

 

240,111

 

68,786

 

(341,560

)

519,731

 

Long-term debt, net

 

1,649,206

 

 

33,432

 

(33,432

)

1,649,206

 

Deferred taxes and other liabilities

 

77,735

 

277,783

 

11,241

 

(8,700

)

358,059

 

Shareholders’ equity

 

985,383

 

2,149,747

 

269,247

 

(2,418,994

)

985,383

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

3,264,718

 

$

2,667,641

 

$

382,706

 

$

(2,802,686

)

$

3,512,379

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Balance Sheet

November 1, 2014

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

1,214

 

$

8,719

 

$

54,783

 

$

 

$

64,716

 

Accounts receivable, net

 

13,165

 

194,027

 

44,240

 

(167,378

)

84,054

 

Inventories

 

161,148

 

756,770

 

164,436

 

 

1,082,354

 

Other current assets

 

59,408

 

40,427

 

7,272

 

 

107,107

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current assets

 

234,935

 

999,943

 

270,731

 

(167,378

)

1,338,231

 

Property and equipment, net

 

304,461

 

224,315

 

41,003

 

 

569,779

 

Rental product, net

 

97,330

 

13,094

 

19,155

 

 

129,579

 

Goodwill

 

6,159

 

834,929

 

51,678

 

 

892,766

 

Intangible assets, net

 

320

 

648,031

 

24,706

 

 

673,057

 

Investments in subsidiaries

 

2,352,986

 

 

 

(2,352,986

)

 

Other assets

 

69,178

 

680

 

9,980

 

(69,806

)

10,032

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

3,065,369

 

$

2,720,992

 

$

417,253

 

$

(2,590,170

)

$

3,613,444

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

193,913

 

$

182,338

 

$

54,772

 

$

(167,378

)

$

263,645

 

Accrued expenses and other current liabilities

 

105,604

 

161,769

 

29,488

 

 

296,861

 

Current maturities of long-term debt

 

11,000

 

 

 

 

11,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 

310,517

 

344,107

 

84,260

 

(167,378

)

571,506

 

Long-term debt, net

 

1,638,606

 

 

59,906

 

(59,906

)

1,638,606

 

Deferred taxes and other liabilities

 

80,526

 

285,293

 

11,693

 

(9,900

)

367,612

 

Shareholders’ equity

 

1,035,720

 

2,091,592

 

261,394

 

(2,352,986

)

1,035,720

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$

3,065,369

 

$

2,720,992

 

$

417,253

 

$

(2,590,170

)

$

3,613,444

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Men’s Wearhouse, Inc.

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 (Loss) Earnings

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of (Loss) Earnings

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Three months ended October 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

464,380

 

$

448,712

 

$

109,306

 

$

(156,952

)

$

865,446

 

Cost of sales

 

241,412

 

340,652

 

67,343

 

(156,952

)

492,455

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

222,968

 

108,060

 

41,963

 

 

372,991

 

Operating expenses

 

186,467

 

197,899

 

29,487

 

(4,461

)

409,392

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

36,501

 

(89,839

)

12,476

 

4,461

 

(36,401

)

Other income and expenses, net

 

4,461

 

 

 

(4,461

)

 

Interest income

 

682

 

1,003

 

40

 

(1,675

)

50

 

Interest expense

 

(27,278

)

(579

)

(275

)

1,675

 

(26,457

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

14,366

 

(89,415

)

12,241

 

 

(62,808

)

Provision (benefit) for income taxes.

 

8,524

 

(44,859

)

681

 

 

(35,654

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before equity in net loss of subsidiaries

 

5,842

 

(44,556

)

11,560

 

 

(27,154

)

Equity in loss of subsidiaries

 

(32,996

)

 

 

32,996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings attributable to common shareholders

 

$

(27,154

)

$

(44,556

)

$

11,560

 

$

32,996

 

$

(27,154

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive (loss) income

 

$

(29,400

)

$

(44,556

)

$

9,536

 

$

35,020

 

$

(29,400

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended November 1, 2014:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

435,285

 

$

453,905

 

$

128,429

 

$

(126,982

)

$

890,637

 

Cost of sales

 

344,575

 

227,532

 

76,307

 

(126,982

)

521,432

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

90,710

 

226,373

 

52,122

 

 

369,205

 

Operating expenses

 

178,233

 

114,729

 

34,331

 

(3,263

)

324,030

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating (loss) income

 

(87,523

)

111,644

 

17,791

 

3,263

 

45,175

 

Other income and expenses, net

 

3,658

 

(395

)

 

(3,263

)

 

Interest income

 

329

 

12

 

108

 

(324

)

125

 

Interest expense

 

(25,032

)

(40

)

(383

)

324

 

(25,131

)

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings before income taxes

 

(108,568

)

111,221

 

17,516

 

 

20,169

 

(Benefit) provision for income taxes

 

(39,908

)

48,891

 

4,185

 

 

13,168

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings before equity in net income of subsidiaries

 

(68,660

)

62,330

 

13,331

 

 

7,001

 

Equity in earnings of subsidiaries

 

75,661

 

 

 

(75,661

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings including non-controlling interest

 

7,001

 

62,330

 

13,331

 

(75,661

)

7,001

 

Net earnings attributable to non-controlling interest

 

(208

)

 

(208

)

208

 

(208

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to common shareholders

 

$

6,793

 

$

62,330

 

$

13,123

 

$

(75,453

)

$

6,793

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive (loss) income

 

$

(5,758

)

$

62,330

 

$

251

 

$

(62,581

)

$

(5,758

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Earnings

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Nine months ended October 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,388,910

 

$

1,369,352

 

$

328,755

 

$

(416,408

)

$

2,670,609

 

Cost of sales

 

701,191

 

1,010,107

 

202,495

 

(416,408

)

1,497,385

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

687,719

 

359,245

 

126,260

 

 

1,173,224

 

Operating expenses

 

563,251

 

414,870

 

90,649

 

(12,557

)

1,056,213

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

124,468

 

(55,625

)

35,611

 

12,557

 

117,011

 

Other income and expenses, net

 

11,543

 

1,014

 

 

(12,557

)

 

Interest income

 

1,831

 

2,672

 

103

 

(4,466

)

140

 

Interest expense

 

(81,579

)

(1,535

)

(827

)

4,466

 

(79,475

)

Loss on extinguishment of debt

 

(12,675

)

 

 

 

(12,675

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before income taxes

 

43,588

 

(53,474

)

34,887

 

 

25,001

 

Provision (benefit) for income taxes

 

18,152

 

(32,771

)

8,626

 

 

(5,993

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before equity in net income of subsidiaries

 

25,436

 

(20,703

)

26,261

 

 

30,994

 

Equity in earnings of subsidiaries

 

5,558

 

 

 

(5,558

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

 

$

30,994

 

$

(20,703

)

$

26,261

 

$

(5,558

)

$

30,994

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

 

$

30,309

 

$

(20,703

)

$

25,883

 

$

(5,180

)

$

30,309

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended November 1, 2014:

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

1,303,738

 

$

1,051,976

 

$

363,111

 

$

(394,636

)

$

2,324,189

 

Cost of sales

 

774,707

 

713,272

 

219,735

 

(394,636

)

1,313,078

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

529,031

 

338,704

 

143,376

 

 

1,011,111

 

Operating expenses

 

593,263

 

212,373

 

100,921

 

(10,606

)

895,951

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating (loss) income

 

(64,232

)

126,331

 

42,455

 

10,606

 

115,160

 

Other income and expenses, net

 

9,477

 

1,129

 

 

(10,606

)

 

Interest income

 

1,314

 

343

 

262

 

(1,614

)

305

 

Interest expense

 

(39,643

)

(370

)

(1,060

)

1,614

 

(39,459

)

Loss on extinguishment of debt

 

(2,158

)

 

 

 

(2,158

)

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings before income taxes

 

(95,242

)

127,433

 

41,657

 

 

73,848

 

(Benefit) provision for income taxes

 

(27,733

)

55,672

 

10,082

 

 

38,021

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings before equity in net income of subsidiaries

 

(67,509

)

71,761

 

31,575

 

 

35,827

 

Equity in earnings of subsidiaries

 

103,336

 

 

 

(103,336

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings including non-controlling interest

 

35,827

 

71,761

 

31,575

 

(103,336

)

35,827

 

Net earnings attributable to non-controlling interest

 

(292

)

 

(292

)

292

 

(292

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings attributable to common shareholders

 

$

35,535

 

$

71,761

 

$

31,283

 

$

(103,044

)

$

35,535

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

 

$

29,053

 

$

71,761

 

$

24,402

 

$

(96,163

)

$

29,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidating Statement of Cash Flows

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended October 31, 2015

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net cash provided by operating activities

 

$

73,276

 

$

19,237

 

$

19,723

 

$

 

$

112,236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

(55,857

)

(22,147

)

(8,402

)

 

(86,406

)

Proceeds from sales of property and equipment

 

2,586

 

27

 

 

 

2,613

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash used in investing activities

 

(53,271

)

(22,120

)

(8,402

)

 

(83,793

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Payments on new term loan

 

(6,250

)

 

 

 

(6,250

)

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

 

(26,269

)

 

 

 

(26,269

)

Proceeds from issuance of common stock

 

2,454

 

 

 

 

2,454

 

Tax payments related to vested deferred stock units

 

(4,538

)

 

 

 

(4,538

)

Excess tax benefits from share-based plans

 

950

 

154

 

 

 

1,104

 

Repurchases of common stock

 

(277

)

 

 

 

(277

)

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used in) provided by financing activities

 

(37,496

)

154

 

 

 

(37,342

)

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes

 

 

 

292

 

 

292

 

 

 

 

 

 

 

 

 

 

 

 

 

(Decrease) increase in cash and cash equivalents

 

(17,491

)

(2,729

)

11,613

 

 

(8,607

)

Cash and cash equivalents at beginning of period

 

18,262

 

4,857

 

39,142

 

 

62,261

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of period

 

$

771

 

$

2,128

 

$

50,755

 

$

 

$

53,654

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended November 1, 2014

(in thousands)

 

 

 

The Men’s

 

Guarantor

 

Non-Guarantor

 

 

 

 

 

 

 

Wearhouse, Inc.

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net cash provided by (used in) operating activities

 

$

360,468

 

$

(324,183

)

$

22,732

 

$

 

$

59,017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

(51,329

)

(13,510

)

(7,558

)

 

(72,397

)

Acquisition of business, net of cash

 

(1,820,308

)

328,915

 

 

 

(1,491,393

)

Proceeds from sales of property and equipment

 

160

 

 

 

 

160

 

 

 

 

 

 

 

 

 

 

 

 

 

Net cash (used in) provided by investing activities

 

(1,871,477

)

315,405

 

(7,558

)

 

(1,563,630

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

(51,072

)

 

 

 

(51,072

)

Cash dividends paid

 

(26,119

)

 

 

 

(26,119

)

Purchase of non-controlling interest

 

(6,651

)

 

 

 

(6,651

)

Proceeds from issuance of common stock

 

7,115

 

 

 

 

7,115

 

Tax payments related to vested deferred stock units

 

(6,907

)

 

 

 

(6,907

)

Excess tax benefits from share-based plans

 

3,194

 

542

 

 

 

3,736

 

Repurchases of common stock

 

(251

)

 

 

 

(251

)

 

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by financing activities

 

1,510,809

 

542

 

 

 

1,511,351

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes

 

 

 

(1,274

)

 

(1,274

)

 

 

 

 

 

 

 

 

 

 

 

 

(Decrease) increase in cash and cash equivalents

 

(200

)

(8,236

)

13,900

 

 

5,464

 

Cash and cash equivalents at beginning of period

 

1,414

 

16,955

 

40,883

 

 

59,252

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at end of period

 

$

1,214

 

$

8,719

 

$

54,783

 

$

 

$

64,716