Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 14, 2015


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information
(dollars in thousands)


EXHIBIT 99.1


On June 30, 2014, affiliates of CCMP Capital Advisors, LLC (“CCMP”) and Oak Hill Capital Partners III, L.P., Oak Hill Capital
Management Partners III, L.P. and OHCP III HC RO, L.P.), together with certain current and former members of Hillman’s
management, consummated a merger transaction (the “Merger Transaction”) pursuant to the terms and conditions of an Agreement and Plan of Merger dated as of May 16, 2014.

The Company, through Hillman Group, had issued $265,000 in aggregate principal amount of 10.875% Senior Notes that were
scheduled to mature on June 1, 2018. In connection with the Merger Transaction, the 10.875% Senior Notes were repaid and
terminated.

Hillman Group issued $330,000 aggregate principal amount of its senior notes due July 15, 2022 (the “6.375% Senior Notes”). The 6.375% Senior Notes, of which $330,000 aggregate principal amount was outstanding as of June 30, 2015, are fully and
unconditionally guaranteed on a joint and several basis by The Hillman Companies, Inc., Hillman Investment Company, and certain of the Company’s wholly-owned subsidiaries. The non-guarantor information presented represents our Australian, Canadian, and Mexican subsidiaries.

The following financial information presents condensed consolidating statements of comprehensive loss, balance sheets, and cash flows for the Hillman Group, all guarantor subsidiaries, all non-guarantor subsidiaries, and the eliminations necessary to provide the consolidated results for the Hillman Companies and subsidiaries. For purposes of this presentation, we have accounted for investments in our subsidiaries using the equity method of accounting. The principal consolidating adjustments eliminate investment in subsidiary and intercompany balances and transactions.




THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Statements of Comprehensive Loss (Unaudited)
For the three months ended June 30, 2015
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
167,821

 
$
5,628

 
$
43,369

 
$

 
$
216,818

 
Cost of sales (exclusive of depreciation and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
amortization shown separately below)
 

 
86,082

 
4,039

 
28,866

 

 
118,987

 
Selling, general and administrative expenses
 
(211
)
 
50,913

 
1,034

 
12,861

 

 
64,597

 
Transaction, acquisition and integration expenses
 

 
92

 

 

 

 
92

 
Depreciation
 

 
6,519

 
18

 
434

 

 
6,971

 
Amortization
 
8,972

 

 
54

 
492

 

 
9,518

 
Intercompany administrative (income) expense
 

 
(109
)
 

 
109

 

 

 
Management fees to related party
 

 
155

 

 

 

 
155

 
Other (income) expense, net
 
264

 
(752
)
 
2

 
(232
)
 

 
(718
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from operations
 
(9,025
)
 
24,921

 
481

 
839

 

 
17,216

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany interest (income) expense
 
(3,058
)
 
3,058

 

 

 

 

 
Interest (income) expense, net
 
(242
)
 
11,244

 

 
1,616

 

 
12,618

 
Interest expense on junior subordinated debentures
 
3,152

 

 

 

 

 
3,152

 
Investment income on trust common securities
 
(94
)
 

 

 

 

 
(94
)
 
 
(Loss) income before equity in subsidiaries' income
(8,783
)
 
10,619

 
481

 
(777
)
 

 
1,540

 
Equity in subsidiaries' (loss) income
 
9,610

 
(1,009
)
 

 

 
(8,601
)
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income before income taxes
 
827

 
9,610

 
481

 
(777
)
 
(8,601
)
 
1,540

 
 
Income tax (benefit) provision
 
5,370

 

 
(23
)
 
736

 

 
6,083

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(4,543
)
 
$
9,610

 
$
504

 
$
(1,513
)
 
$
(8,601
)
 
$
(4,543
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 

 
79

 

 
423

 
(875
)
 
(373
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive (loss) income
 
$
(4,543
)
 
$
9,689

 
$
504

 
$
(1,090
)
 
$
(9,476
)
 
$
(4,916
)


Page 2 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Statements of Comprehensive Loss (Unaudited)
For the one day ended June 30, 2014
(Amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 

 

 

 

 

 

 
Cost of sales (exclusive of depreciation and
 
 
 
 
 
 
 
 
 
 
 
 
 
  amortization shown below)
 

 

 

 

 

 

 
Selling, general and administrative expenses
 

 

 

 

 

 

 
Transaction, acquisition and integration expenses
22,018

 

 

 

 

 
22,018

 
Depreciation
 

 

 

 

 

 

 
Amortization
 

 

 

 

 

 

 
Intercompany administrative (income) expense
 

 

 

 

 

 

 
Other (income) expense, net
 

 

 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) from operations
 
(22,018
)
 

 

 

 

 
(22,018
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany interest (income) expense
 

 

 

 

 

 

 
Interest expense, net
 

 

 

 

 

 

 
Interest expense on junior subordinated debentures

 

 

 

 

 

 
Investment income on trust common securities
 

 

 

 

 

 

 
 
(Loss) before equity in subsidiaries' income
 
(22,018
)
 

 

 

 

 
(22,018
)
 
Equity in subsidiaries' income (loss)
 

 

 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) before income taxes
 
(22,018
)
 

 

 

 

 
(22,018
)
 
 
Income tax (benefit)
 
(6,228
)
 

 

 

 

 
(6,228
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss)
 
$
(15,790
)
 

 

 

 

 
$
(15,790
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 

 

 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive (loss)
 
$
(15,790
)
 

 

 

 

 
$
(15,790
)


Page 3 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Statements of Comprehensive Income (Unaudited)
For the three months ended June 29, 2014
(Amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 

 
$
147,829

 
$
8,746

 
$
46,023

 

 
$
202,598

 
Cost of sales (exclusive of depreciation and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
amortization shown separately below)
 

 
69,236

 
6,079

 
28,612

 

 
103,927

 
Selling, general and administrative expenses
 
38,798

 
47,772

 
1,941

 
12,408

 

 
100,919

 
Transaction, acquisition and integration expenses
 

 
31,681

 

 

 

 
31,681

 
Depreciation
 

 
6,593

 
27

 
661

 

 
7,281

 
Amortization
 
4,514

 
771

 

 
264

 

 
5,549

 
Intercompany administrative (income) expense
 

 
(108
)
 

 
108

 

 

 
Management and transaction fees to related party
 

 
15

 

 

 

 
15

 
Other (income) expense, net
 
(77
)
 
74

 
128

 
86

 

 
211

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from operations
 
(43,235
)
 
(8,205
)
 
571

 
3,884

 

 
(46,985
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany interest (income) expense
 
(3,059
)
 
3,059

 

 

 

 

 
Interest (income) expense, net
 
(52
)
 
9,886

 

 
1,771

 

 
11,605

 
Interest expense on junior subordinated debentures
 
3,153

 

 

 

 

 
3,153

 
Investment income on trust common securities
 
(94
)
 

 

 

 

 
(94
)
 
 
(Loss) income before equity in subsidiaries' income
(43,183
)
 
(21,150
)
 
571

 
2,113

 

 
(61,649
)
 
Equity in subsidiaries' (loss) income
 
(19,656
)
 
1,494

 

 

 
18,162

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income before income taxes
 
(62,839
)
 
(19,656
)
 
571

 
2,113

 
18,162

 
(61,649
)
 
 
Income tax (benefit) provision
 
(22,375
)
 

 
182

 
1,008

 

 
(21,185
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(40,464
)
 
$
(19,656
)
 
$
389

 
$
1,105

 
$
18,162

 
$
(40,464
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 

 
3,916

 

 
10,061

 
(10,025
)
 
3,952

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive (loss) income
 
$
(40,464
)
 
$
(15,740
)
 
$
389

 
$
11,166

 
$
8,137

 
$
(36,512
)


Page 4 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Statements of Comprehensive Loss (Unaudited)
For the six months ended June 30, 2015
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$

 
$
311,942

 
$
10,741

 
$
74,831

 
$

 
$
397,514

 
Cost of sales (exclusive of depreciation and
 
 
 
 
 
 
 
 
 
 
 

 
 
amortization shown separately below)
 

 
165,127

 
7,731

 
49,477

 

 
222,335

 
Selling, general and administrative expenses
 
43

 
100,836

 
2,052

 
23,364

 

 
126,295

 
Transaction, acquisition and integration expenses
 

 
257

 

 

 

 
257

 
Depreciation
 

 
13,468

 
35

 
1,005

 

 
14,508

 
Amortization
 
17,946

 

 
108

 
981

 

 
19,035

 
Intercompany administrative (income) expense
 

 
(217
)
 

 
217

 

 

 
Management fees to related party
 

 
306

 

 

 

 
306

 
Other (income) expense, net
 
214

 
789

 

 
(491
)
 

 
512

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
(Loss) income from operations
 
(18,203
)

31,376


815


278




14,266

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
Intercompany interest (income) expense
 
(6,115
)
 
6,115

 

 

 

 

 
Interest (income) expense, net
 
(478
)
 
22,507

 

 
3,215

 

 
25,244

 
Interest expense on junior subordinated debentures
 
6,305

 

 

 

 

 
6,305

 
Investment income on trust common securities
 
(189
)
 

 

 

 

 
(189
)
 
 
(Loss) income before equity in subsidiaries' income
(17,726
)

2,754


815


(2,937
)



(17,094
)
 
Equity in subsidiaries' (loss) income
 
902

 
(1,852
)
 

 

 
950

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
(Loss) income before income taxes
 
(16,824
)

902


815


(2,937
)

950


(17,094
)
 
 
Income tax (benefit) provision
 
(2,416
)
 

 
133

 
(403
)
 

 
(2,686
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
Net (loss) income
 
$
(14,408
)

$
902


$
682


$
(2,534
)

$
950


$
(14,408
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
Other comprehensive (loss) income:
 
 
 

 
 
 
 
 
 
 

 
 
Foreign currency translation adjustments
 

 
(7,150
)
 

 
(24,105
)
 
20,370

 
(10,885
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
Total comprehensive (loss) income
 
$
(14,408
)

$
(6,248
)

$
682


$
(26,639
)

$
21,320


$
(25,293
)


Page 5 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Statements of Comprehensive Income (Loss) (Unaudited)
For the six months ended June 29, 2014
(Amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 

 
$
263,194

 
$
16,053

 
$
78,130

 

 
$
357,377

 
Cost of sales (exclusive of depreciation and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
amortization shown separately below)
 

 
123,971

 
11,185

 
48,186

 

 
183,342

 
Selling, general and administrative expenses
 
39,324

 
90,090

 
3,656

 
23,692

 

 
156,762

 
Transaction, acquisition and integration expenses
 

 
31,681

 

 

 

 
31,681

 
Depreciation
 

 
12,789

 
48

 
1,312

 

 
14,149

 
Amortization
 
9,029

 
1,543

 

 
521

 

 
11,093

 
Intercompany administrative (income) expense
 

 
(216
)
 

 
216

 

 

 
Management and transaction fees to related party
 

 
15

 

 

 

 
15

 
Other (income) expense, net
 
(95
)
 
151

 
10

 
(343
)
 

 
(277
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from operations
 
(48,258
)
 
3,170

 
1,154

 
4,546

 

 
(39,388
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany interest (income) expense
 
(6,117
)
 
6,117

 

 

 

 

 
Interest (income) expense, net
 
(103
)
 
19,802

 

 
3,451

 

 
23,150

 
Interest expense on junior subordinated debentures
 
6,305

 

 

 

 

 
6,305

 
Investment income on trust common securities
 
(189
)
 

 

 

 

 
(189
)
 
 
(Loss) income before equity in subsidiaries' income
(48,154
)
 
(22,749
)
 
1,154

 
1,095

 

 
(68,654
)
 
Equity in subsidiaries' (loss) income
 
(21,498
)
 
1,251

 

 

 
20,247

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income before income taxes
 
(69,652
)
 
(21,498
)
 
1,154

 
1,095

 
20,247

 
(68,654
)
 
 
Income tax (benefit) provision
 
(25,126
)
 

 
426

 
572

 

 
(24,128
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(44,526
)
 
$
(21,498
)
 
$
728

 
$
523

 
$
20,247

 
$
(44,526
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive (loss) income:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 

 
(151
)
 

 
(102
)
 
158

 
(95
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total comprehensive (loss) income
 
$
(44,526
)
 
$
(21,649
)
 
$
728

 
$
421

 
$
20,405

 
$
(44,621
)


Page 6 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Balance Sheet (Unaudited)
As of June 30, 2015
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
1

 
$
2,717

 
$
684

 
$
4,195

 
$

 
$
7,597

 
 
Restricted investments
 
855

 

 

 

 

 
855

 
 
Accounts receivable, net
 

 
89,176

 
1,623

 
29,863

 

 
120,662

 
 
Inventories, net
 

 
177,784

 
5,532

 
73,428

 
(685
)
 
256,059

 
 
Deferred income taxes, net
 
10,591

 
277

 
529

 
863

 
(98
)
 
12,162

 
 
Other current assets
 

 
8,542

 
116

 
2,282

 

 
10,940

 
 
 
Total current assets
 
11,447

 
278,496

 
8,484

 
110,631

 
(783
)
 
408,275

 
 
Intercompany notes receivable
 
105,446

 
116,706

 
(6,365
)
 
(110,341
)
 
(105,446
)
 

 
 
Intercompany interest receivable
 
6,115

 
3,980

 

 

 
(10,095
)
 

 
 
Investments in subsidiaries
 
(890,670
)
 
55,647

 
4,178

 
243,048

 
587,797

 

 
 
Property and equipment, net
 

 
101,159

 
297

 
10,255

 

 
111,711

 
 
Goodwill
 
814,413

 
350,968

 
3,240

 
34,941

 
(584,841
)
 
618,721

 
 
Other intangibles, net
 
728,767

 

 
4,575

 
43,014

 

 
776,356

 
 
Restricted investments
 
1,263

 

 

 

 

 
1,263

 
 
Deferred income taxes
 
49,945

 
143

 
(602
)
 
660

 
(50,146
)
 

 
 
Deferred financing fees, net
 

 
22,559

 

 

 

 
22,559

 
 
Investment in trust common securities
 
3,261

 

 

 

 

 
3,261

 
 
Other assets
 

 
2,946

 
25

 
47

 

 
3,018

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total assets
 
$
829,987

 
$
932,604

 
$
13,832

 
$
332,255

 
$
(163,514
)
 
$
1,945,164

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$

 
$
70,804

 
$
374

 
$
23,361

 
$

 
$
94,539

 
 
Current portion of senior term loans
 

 
5,500

 

 

 

 
5,500

 
 
Current portion of capitalized lease and other obligations

 
212

 

 

 

 
212

 
 
Intercompany interest payable
 

 
6,115

 

 
3,980

 
(10,095
)
 

 
 
Accrued expenses:
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Salaries and wages
 

 
4,975

 
120

 
969

 

 
6,064

 
 
 
Pricing allowances
 

 
3,418

 

 
3,100

 

 
6,518

 
 
 
Income and other taxes
 
(92
)
 
2,382

 
78

 
647

 

 
3,015

 
 
 
Interest
 

 
10,186

 

 

 

 
10,186

 
 
 
Deferred compensation
 
855

 

 

 

 

 
855

 
 
 
Other accrued expenses
 

 
7,404

 
39

 
3,144

 

 
10,587

 
 
 
 
Total current liabilities
 
763

 
110,996

 
611

 
35,201

 
(10,095
)
 
137,476

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 7 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Balance Sheet (Unaudited)
As of June 30, 2015
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
  LIABILITIES AND STOCKHOLDERS' EQUITY(CONTINUED)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany debt payable
 

 
105,446

 

 

 
(105,446
)
 

 
 
Long term senior term loans
 

 
539,000

 

 

 

 
539,000

 
 
Bank revolving credit
 

 
44,000

 

 

 

 
44,000

 
 
Long term capitalized leases and other obligations
 

 
294

 

 

 

 
294

 
 
Long term senior notes
 

 
330,000

 

 

 

 
330,000

 
 
Junior subordinated debentures
 
130,206

 

 

 

 

 
130,206

 
 
Deferred compensation
 
1,263

 

 

 

 

 
1,263

 
 
Deferred income taxes, net
 
303,508

 

 
2,007

 
13,187

 
(50,244
)
 
268,458

 
 
Other non-current liabilities
 

 
6,152

 

 
348

 

 
6,500

 
 
 
 
Total liabilities
 
435,740

 
1,135,888

 
2,618

 
48,736

 
(165,785
)
 
1,457,197

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commitments and Contingencies
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stockholders' Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock, $.01 par, 5,000 shares authorized, none issued and outstanding at June 30, 2015
 

 

 

 

 

 

 
 
Common Stock:
 
 
 
 
 
 
 
 
 
 
 


 
 
 
Common stock, $.01 par, 5,000 shares authorized, issued and outstanding at June 30, 2015
 

 

 
50

 

 
(50
)
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
Additional paid-in capital
 
632,579

 
5,842

 
10,197

 
375,287

 
(479,184
)
 
544,721

 
 
Accumulated deficit
 
(238,332
)
 
(193,656
)
 
967

 
(22,097
)
 
419,773

 
(33,345
)
 
 
Accumulated other comprehensive (loss) income
 

 
(15,470
)
 

 
(69,671
)
 
61,732

 
(23,409
)
 
 
 
Total stockholders' equity
 
394,247

 
(203,284
)
 
11,214

 
283,519

 
2,271

 
487,967

 
 
 
 
Total liabilities and stockholders' equity
 
$
829,987

 
$
932,604

 
$
13,832

 
$
332,255

 
$
(163,514
)
 
$
1,945,164

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Page 8 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



Condensed Consolidating Balance Sheet (Unaudited)
As of December 31, 2014
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
ASSETS
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
1

 
$
13,191

 
$
696

 
$
4,597

 
$

 
$
18,485

 
 
Restricted investments
 
494

 

 

 

 

 
494

 
 
Accounts receivable, net
 

 
65,270

 
1,175

 
23,439

 

 
89,884

 
 
Inventories, net
 

 
141,472

 
5,687

 
57,885

 
(321
)
 
204,723

 
 
Deferred income taxes, net
 
11,191

 
277

 
538

 
1,331

 
(98
)
 
13,239

 
 
Other current assets
 

 
8,142

 
124

 
2,058

 

 
10,324

 
 
 
Total current assets
 
11,686


228,352


8,220


89,310


(419
)

337,149

 
 
Intercompany notes receivable
 
105,446

 
112,977

 
(6,975
)
 
(106,002
)
 
(105,446
)
 

 
 
Intercompany interest receivable
 

 
948

 

 

 
(948
)
 

 
 
Investments in subsidiaries
 
(840,201
)
 
69,419

 
4,300

 
271,714

 
494,768

 

 
 
Property and equipment, net
 

 
101,299

 
298

 
12,934

 

 
114,531

 
 
Goodwill
 
789,870

 
338,696

 
3,240

 
37,780

 
(548,026
)
 
621,560

 
 
Other intangibles, net
 
746,714

 

 
4,682

 
47,545

 

 
798,941

 
 
Restricted investments
 
1,750

 

 

 

 

 
1,750

 
 
Deferred income taxes
 
53,715

 
143

 
(477
)
 
(2
)
 
(53,379
)
 

 
 
Deferred financing fees, net
 

 
24,407

 

 

 

 
24,407

 
 
Investment in trust common securities
 
3,261

 

 

 

 

 
3,261

 
 
Other assets
 

 
1,317

 
25

 
72

 

 
1,414

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
Total assets
 
$
872,241


$
877,558


$
13,313


$
353,351


$
(213,450
)

$
1,903,013

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
LIABILITIES AND STOCKHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 

 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 

 
 
Accounts payable
 
$

 
$
53,487

 
$
422

 
$
12,553

 
$

 
$
66,462

 
 
Current portion of senior term loans
 

 
5,500

 

 

 

 
5,500

 
 
Current portion of capitalized lease and other obligations

 
207

 

 

 

 
207

 
 
Intercompany interest payable
 

 

 

 
948

 
(948
)
 

 
 
Accrued expenses:
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Salaries and wages
 

 
4,144

 
120

 
983

 

 
5,247

 
 
 
Pricing allowances
 

 
3,621

 
3

 
3,038

 

 
6,662

 
 
 
Income and other taxes
 
(581
)
 
2,325

 
37

 
1,520

 

 
3,301

 
 
 
Interest
 

 
10,587

 

 

 

 
10,587

 
 
 
Deferred compensation
 
494

 

 

 

 

 
494

 
 
 
Other accrued expenses
 

 
6,990

 
40

 
393

 

 
7,423

 
 
 
 
Total current liabilities
 
(87
)

86,861


622


19,435


(948
)

105,883

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Page 9 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Condensed Consolidating Balance Sheet (Unaudited)
As of December 31, 2014
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
  LIABILITIES AND STOCKHOLDERS' EQUITY(CONTINUED)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Intercompany debt payable
 

 
105,446

 

 

 
(105,446
)
 

 
 
Long term senior term loans
 

 
541,750

 

 

 

 
541,750

 
 
Long term capitalized leases and other obligations
 

 
400

 

 

 

 
400

 
 
Long term senior notes
 

 
330,000

 

 

 

 
330,000

 
 
Junior subordinated debentures
 
130,685

 

 

 

 

 
130,685

 
 
Deferred compensation
 
1,750

 

 

 

 

 
1,750

 
 
Deferred income taxes, net
 
310,804

 

 
2,037

 
14,417

 
(53,477
)
 
273,781

 
 
Other non-current liabilities
 

 
4,359

 

 
1,262

 

 
5,621

 
 
 
 
Total liabilities
 
443,152


1,068,816


2,659


35,114


(159,871
)

1,389,870

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Commitments and Contingencies
 
 
 
 
 
 
 
 
 
 
 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Stockholders' Equity:
 
 
 
 
 
 
 
 
 
 
 


 
 
Preferred Stock:
 
 
 
 
 
 
 
 
 
 
 


 
 
 
Preferred stock, $.01 par, 5,000 shares authorized, none issued and outstanding at December 31, 2014
 

 

 

 

 

 

 
 
Common Stock:
 
 
 
 
 
 
 
 
 
 
 


 
 
 
Common stock, $.01 par, 5,000 shares authorized, issued and outstanding at December 31, 2014
 

 

 
50

 

 
(50
)
 

 
 
Additional paid-in capital
 
632,602

 
5,842

 
10,197

 
375,287

 
(479,324
)
 
544,604

 
 
Accumulated deficit
 
(203,513
)
 
(188,780
)
 
407

 
(11,484
)
 
384,433

 
(18,937
)
 
 
Accumulated other comprehensive (loss) income
 

 
(8,320
)
 

 
(45,566
)
 
41,362

 
(12,524
)
 
 
 
Total stockholders' equity
 
429,089


(191,258
)

10,654


318,237


(53,579
)

513,143

 
 
 
 
Total liabilities and stockholders' equity
 
$
872,241


$
877,558


$
13,313


$
353,351


$
(213,450
)

$
1,903,013

 
 
 
 
 
 













Page 10 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



 
Consolidating Statement of Cash Flows (Unaudited)
 
For the six months ended June 30, 2015
 
(dollars in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(15,310
)
 
$
2,537

 
$
682

 
$
(2,317
)
 
$

 
$
(14,408
)
 
 
Adjustments to reconcile net (loss) income to net cash
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
provided by (used for) operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
17,947

 
13,473

 
142

 
1,981

 

 
33,543

 
 
 
Gain on sale of property and equipment
 

 
223

 
1

 
(895
)
 

 
(671
)
 
 
 
Deferred income tax (benefit) provision
 
(2,926
)
 

 
104

 
(441
)
 

 
(3,263
)
 
 
 
Deferred financing and original issue discount amortization
 
(479
)
 
1,848

 

 

 

 
1,369

 
 
 
Stock-based compensation expense
 
257

 

 

 

 

 
257

 
 
 
Other non-cash interest and change in value of interest rate swap
 

 
1,264

 

 

 

 
1,264

 
 
 
Changes in operating items:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable
 

 
(23,906
)
 
(448
)
 
(7,599
)
 

 
(31,953
)
 
 
 
 
Inventories
 

 
(35,948
)
 
155

 
(19,861
)
 

 
(55,654
)
 
 
 
 
Other assets
 
(6,115
)
 
(2,675
)
 
(602
)
 
15,547

 

 
6,155

 
 
 
 
Accounts payable
 

 
17,317

 
(48
)
 
11,208

 

 
28,477

 
 
 
 
Other accrued liabilities
 
489

 
698

 
37

 
1,163

 

 
2,387

 
 
 
 
Other items, net
 
6,277

 
(5,825
)
 

 
(414
)
 

 
38

 
 
 
Net cash provided by (used for) operating activities
 
140

 
(30,994
)
 
23

 
(1,628
)
 

 
(32,459
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Proceeds from sale of property and equipment
 

 

 

 
2,295

 

 
2,295

 
 
Capital expenditures
 

 
(13,479
)
 
(35
)
 
(756
)
 

 
(14,270
)
 
 
 
Net cash (used for) provided by investing activities
 


(13,479
)

(35
)

1,539




(11,975
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Repayments of senior term loans
 

 
(2,750
)
 

 

 

 
(2,750
)
 
 
Borrowings on revolving credit loans
 

 
44,000

 

 

 

 
44,000

 
 
Principal payments under capitalized lease obligations
 

 
(101
)
 

 

 

 
(101
)
 
 
Proceeds from sale of stock
 
400

 

 

 

 

 
400

 
 
Purchase of stock from a former member of management
 
(540
)
 

 

 

 

 
(540
)
 
 
 
Net cash (used for) financing activities
 
(140
)
 
41,149

 

 

 

 
41,009

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
 

 
(7,150
)
 

 
(313
)
 

 
(7,463
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
 

 
(10,474
)
 
(12
)
 
(402
)
 

 
(10,888
)
 
Cash and cash equivalents at beginning of period
 
1

 
13,191

 
696

 
4,597

 

 
18,485

 
Cash and cash equivalents at end of period
 
$
1

 
$
2,717

 
$
684

 
$
4,195

 
$

 
$
7,597



Page 11 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



 
Condensed Consolidating Statement of Cash Flows (Unaudited)
 
For the six months ended June 29, 2014
 
(Amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Predecessor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(23,029
)
 
$
(22,749
)
 
$
728

 
$
524

 

 
$
(44,526
)
 
 
Adjustments to reconcile net (loss) income to net cash
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
provided by (used for) operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 
9,029

 
14,332

 
48

 
1,833

 

 
25,242

 
 
 
Deferred income tax (benefit) provision
 
(24,245
)
 

 
206

 
(419
)
 

 
(24,458
)
 
 
 
Deferred financing and original issue discount amortization
 
(103
)
 
1,477

 

 

 

 
1,374

 
 
 
Stock-based compensation expense
 
39,229

 

 

 

 

 
39,229

 
 
 
Changes in operating items:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable
 

 
(17,638
)
 
(633
)
 
(6,996
)
 

 
(25,267
)
 
 
 
 
Inventories
 

 
(17,769
)
 
(666
)
 
584

 

 
(17,851
)
 
 
 
 
Other assets
 

 
(3,199
)
 
678

 
11,320

 

 
8,799

 
 
 
 
Accounts payable
 

 
25,944

 
236

 
(5,369
)
 

 
20,811

 
 
 
 
Interest payable on junior subordinated debentures
 
1,019

 

 

 

 

 
1,019

 
 
 
 
Other accrued liabilities
 
(123
)
 
28,651

 
(4
)
 
2,659

 

 
31,183

 
 
 
 
Other items, net
 
(2,251
)
 
(1,168
)
 
(659
)
 
235

 

 
(3,843
)
 
 
 
Net cash provided by (used for) operating activities
 
(474
)
 
7,881

 
(66
)
 
4,371

 

 
11,712

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 

 
(12,224
)
 
(57
)
 
(652
)
 

 
(12,933
)
 
 
 
Net cash provided by (used for) investing activities
 

 
(12,224
)
 
(57
)
 
(652
)
 

 
(12,933
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Repayments of senior term loans
 

 
(992
)
 

 

 

 
(992
)
 
 
Principal payments under capitalized lease obligations
 

 
(84
)
 

 

 

 
(84
)
 
 
Proceeds from exercise of stock options
 
474

 

 

 

 

 
474

 
 
 
Net cash (used for) financing activities
 
474

 
(1,076
)
 

 

 

 
(602
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
 

 
(151
)
 

 
35

 

 
(116
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
 

 
(5,570
)
 
(123
)
 
3,754

 

 
(1,939
)
 
Cash and cash equivalents at beginning of period
 
1

 
27,553

 
791

 
6,624

 

 
34,969

 
Cash and cash equivalents at end of period
 
$
1

 
$
21,983

 
$
668

 
$
10,378

 

 
$
33,030



Page 12 of 13


THE HILLMAN COMPANIES, INC. AND SUBSIDIARIES
Supplemental Consolidating Guarantor and Non-Guarantor Financial Information



 
Condensed Consolidating Statement of Cash Flows (Unaudited)
 
For the one day ended June 30, 2014
 
(Amounts in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Successor
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Guarantors
 
Issuer
 
 
 
Non-
 
 
 
 
 
 
 
 
 
 
The Hillman
 
The Hillman
 
Guarantor
 
Guarantor
 
Consolidating
 
 
 
 
 
 
 
 
Companies, Inc.
 
Group, Inc.
 
Subsidiaries
 
Subsidiaries
 
Adjustments
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
 
$
6,228

 
$
(22,018
)
 

 

 

 
$
(15,790
)
 
 
Adjustments to reconcile net income (loss) to net cash provided by (used for)operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
 

 

 

 

 

 

 
 
 
Deferred income tax provision
 
(6,228
)
 

 

 

 

 
(6,228
)
 
 
 
Deferred financing and original issue discount amortization
 

 

 

 

 

 

 
 
 
Stock-based compensation expense
 

 

 

 

 

 

 
 
 
Changes in operating items:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable
 

 

 

 

 

 

 
 
 
 
Inventories
 

 

 

 

 

 

 
 
 
 
Other assets
 

 
(2,321
)
 

 

 

 
(2,321
)
 
 
 
 
Accounts payable
 

 

 

 

 

 

 
 
 
 
Interest payable on junior subordinated debentures
 

 

 

 

 

 

 
 
 
 
Other accrued liabilities
 
18,177

 
(31,969
)
 

 

 

 
(13,792
)
 
 
 
 
Other items, net
 

 
(65
)
 

 
(1,961
)
 

 
(2,026
)
 
 
 
Net cash provided by (used for) operating activities
 
18,177

 
(56,373
)
 

 
(1,961
)
 

 
(40,157
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 

 

 

 

 

 

 
 
Purchase of predecessors equity securities
 
(722,763
)
 

 

 
(4,582
)
 

 
(727,345
)
 
 
 
Net cash used for investing activities
 
(722,763
)
 

 

 
(4,582
)
 

 
(727,345
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Borrowings of senior term loans
 

 
550,000

 

 

 

 
550,000

 
 
Repayments of senior term loans
 

 
(384,407
)
 

 

 

 
(384,407
)
 
 
Borrowings of senior notes
 

 
330,000

 

 

 

 
330,000

 
 
Repayments of senior notes
 

 
(265,000
)
 

 

 

 
(265,000
)
 
 
Proceeds from sale of successor equity securities
 
542,929

 

 

 

 

 
542,929

 
 
Financing fees, net
 

 
(26,355
)
 

 

 

 
(26,355
)
 
 
Borrowings on revolving credit loans
 

 
16,000

 

 

 

 
16,000

 
 
 
Net cash provided by financing activities
 
542,929

 
220,238

 

 

 

 
763,167

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash
 

 

 

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash and cash equivalents
 
(161,657
)
 
163,865

 

 
(6,543
)
 

 
(4,335
)
 
Cash and cash equivalents at beginning of period
 
1

 
21,983

 
668

 
10,378

 

 
33,030

 
Cash and cash equivalents at end of period
 
$
(161,656
)
 
$
185,848

 
$
668

 
$
3,835

 

 
$
28,695



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