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Note 23 - Financial Information of Subsidiary Issuer and Subsidiary Guarantors | 12 Months Ended
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Oct. 31, 2014
Disclosure Text Block Supplement [Abstract] |
Condensed Financial Statements [Text Block] | 23. Financial Information of Subsidiary Issuer and Subsidiary Guarantors Hovnanian Enterprises, Inc., the parent company (the “Parent”), is the issuer of publicly traded common stock and preferred stock, which is represented by depository shares. One of its wholly owned subsidiaries, K. Hovnanian Enterprises, Inc. (the “Subsidiary Issuer”), acts as a finance entity that, as of October 31, 2014, had issued and outstanding approximately $992.0 million of senior secured notes ($979.9 million, net of discount), $591.1 million senior notes ($590.5 million, net of discount) and $17.0 million senior amortizing notes and $70.1 million senior exchangeable notes (issued as components of our 6.0% Exchangeable Note Units). The senior secured notes, senior notes, senior amortizing notes and senior exchangeable notes are fully and unconditionally guaranteed by the Parent. In addition to the Parent, each of the wholly owned subsidiaries of the Parent other than the Subsidiary Issuer (collectively, “Guarantor Subsidiaries”), with the exception of our home mortgage subsidiaries, certain of our title insurance subsidiaries, joint ventures, subsidiaries holding interests in our joint ventures and our foreign subsidiary (collectively, the “Nonguarantor Subsidiaries”), have guaranteed fully and unconditionally, on a joint and several basis, the obligations of the Subsidiary Issuer to pay principal and interest under the senior secured notes (other than the 2021 Notes), senior notes, senior exchangeable notes and senior amortizing notes. The Guarantor Subsidiaries are directly or indirectly 100% owned subsidiaries of the Parent. The 2021 Notes are guaranteed by the Guarantor Subsidiaries and the members of the Secured Group (see Note 9). The senior unsecured notes (except for the 2019 Notes), senior amortizing notes and senior exchangeable notes have been registered under the Securities Act of 1933, as amended. The 2019 Notes, 2020 Secured Notes and the 2021 Notes (see Note 9) are not, pursuant to the indentures under which such notes were issued, required to be registered. The Consolidating Financial Statements presented below are in respect of our registered notes only and not the 2019 Notes, 2020 Secured Notes or the 2021 Notes (however, the Guarantor Subsidiaries for the 2019 Notes and the 2020 Secured Notes are the same as those represented by the accompanying Consolidating Financial Statements). In lieu of providing separate financial statements for the Guarantor Subsidiaries of our registered notes, we have included the accompanying Consolidating Financial Statements. Therefore, separate financial statements and other disclosures concerning such Guarantor Subsidiaries are not presented. The following Consolidating Condensed Financial Statements present the results of operations, financial position and cash flows of (i) the Parent, (ii) the Subsidiary Issuer, (iii) the Guarantor Subsidiaries, (iv) the Nonguarantor Subsidiaries and (v) the eliminations to arrive at the information for Hovnanian Enterprises, Inc. on a consolidated basis. CONSOLIDATING CONDENSED BALANCE SHEET OCTOBER 31, 2014
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $- |  |  | $195,177 |  |  | $1,336,716 |  |  | $353,151 |  |  | $- |  |  | $1,885,044 |
Financial services |  |  |  |  |  |  |  | 11,407 |  |  | 108,936 |  |  |  |  |  | 120,343 |
Income taxes receivable |  | 244,391 |  |  |  |  |  | 40,152 |  |  |  |  |  |  |  |  | 284,543 |
Intercompany receivable (payable) |  |  |  |  | 1,275,453 |  |  |  |  |  | 36,161 |  |  | (1,311,614 | ) |  | - |
Investments in and amounts due from consolidated subsidiaries |  |  |  |  |  |  |  | 338,044 |  |  |  |  |  | (338,044 | ) |  | - |
Total assets |  | $244,391 |  |  | $1,470,630 |  |  | $1,726,319 |  |  | $498,248 |  |  | $(1,649,658 | ) |  | $2,289,930 |
Liabilities and equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $2,842 |  |  | $160 |  |  | $544,088 |  |  | $71,663 |  |  | $- |  |  | $618,753 |
Financial services |  |  |  |  |  |  |  | 11,210 |  |  | 87,987 |  |  |  |  |  | 99,197 |
Notes payable |  |  |  |  | 1,685,892 |  |  | 3,336 |  |  | 551 |  |  |  |  |  | 1,689,779 |
Intercompany payable (receivable) |  | 308,700 |  |  |  |  |  | 1,002,914 |  |  |  |  |  | (1,311,614 | ) |  | - |
Amounts due to consolidated subsidiaries |  | 50,648 |  |  | 11,902 |  |  |  |  |  |  |  |  | (62,550 | ) |  | - |
Stockholders’ (deficit) equity |  | (117,799 | ) |  | (227,324 | ) |  | 164,771 |  |  | 338,047 |  |  | (275,494 | ) |  | (117,799 | )
Noncontrolling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Total liabilities and equity |  | $244,391 |  |  | $1,470,630 |  |  | $1,726,319 |  |  | $498,248 |  |  | $(1,649,658 | ) |  | $2,289,930 |
CONSOLIDATING CONDENSED BALANCE SHEET OCTOBER 31, 2013
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Nonguarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | $- |  |  |  | $277,800 |  |  |  | $1,020,435 |  |  |  | $312,042 |  |  | $ |  |  |  |  | $1,610,277 |
Financial services |  |  |  |  |  |  |  |  |  |  | 14,570 |  |  |  | 134,283 |  |  |  |  |  |  |  | 148,853 |
Intercompany receivable |  |  |  |  |  |  | 1,093,906 |  |  |  |  |  |  |  | 14,489 |  |  |  | (1,108,395 | ) |  |  | - |
Investments in and amounts due to and from consolidated subsidiaries |  |  | (62,298 | ) |  |  | 2,275 |  |  |  | 286,216 |  |  |  |  |  |  |  | (226,193 | ) |  |  | - |
Total assets |  |  | $(62,298 | ) |  |  | $1,373,981 |  |  |  | $1,321,221 |  |  |  | $460,814 |  |  |  | $(1,334,588 | ) |  |  | $1,759,130 |
Liabilities and equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | $3,798 |  |  |  | $491 |  |  |  | $437,767 |  |  |  | $64,329 |  |  | $ |  |  |  |  | $506,385 |
Financial services |  |  |  |  |  |  |  |  |  |  | 14,789 |  |  |  | 109,748 |  |  |  |  |  |  |  | 124,537 |
Notes payable |  |  |  |  |  |  | 1,555,336 |  |  |  | 2,276 |  |  |  | 94 |  |  |  |  |  |  |  | 1,557,706 |
Intercompany payable |  |  | 326,262 |  |  |  |  |  |  |  | 805,774 |  |  |  |  |  |  |  | (1,132,036 | ) |  |  | - |
Income taxes payable (receivable) |  |  | 40,868 |  |  |  |  |  |  |  | (37,567 | ) |  |  |  |  |  |  |  |  |  |  | 3,301 |
Stockholders’ (deficit) equity |  |  | (433,226 | ) |  |  | (181,846 | ) |  |  | 98,182 |  |  |  | 286,216 |  |  |  | (202,552 | ) |  |  | (433,226 | )
Non-controlling interest in consolidated joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 427 |  |  |  |  |  |  |  | 427 |
Total liabilities and equity |  |  | $(62,298 | ) |  |  | $1,373,981 |  |  |  | $1,321,221 |  |  |  | $460,814 |  |  |  | $(1,334,588 | ) |  |  | $1,759,130 |
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS YEAR ENDED OCTOBER 31, 2014
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | $25 |  |  | $- |  |  | $1,651,343 |  |  | $369,598 |  |  | $- |  |  | $2,020,966 |
Financial services |  |  |  |  |  |  |  | 9,572 |  |  | 32,842 |  |  |  |  |  | 42,414 |
Intercompany income |  |  |  |  | 100,878 |  |  |  |  |  |  |  |  | (100,878 | ) |  | - |
Total revenues |  | 25 |  |  | 100,878 |  |  | 1,660,915 |  |  | 402,440 |  |  | (100,878 | ) |  | 2,063,380 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  | 3,286 |  |  | 131,730 |  |  | 1,549,659 |  |  | 336,651 |  |  |  |  |  | 2,021,326 |
Financial services |  | 20 |  |  |  |  |  | 6,832 |  |  | 21,764 |  |  |  |  |  | 28,616 |
Intercompany charges |  |  |  |  |  |  |  | 100,878 |  |  |  |  |  | (100,878 | ) |  | - |
Total expenses |  | 3,306 |  |  | 131,730 |  |  | 1,657,369 |  |  | 358,415 |  |  | (100,878 | ) |  | 2,049,942 |
Loss on extinguishment of debt |  |  |  |  | (1,155 | ) |  |  |  |  |  |  |  |  |  |  | (1,155 | )
Income from unconsolidated joint ventures |  |  |  |  |  |  |  | 94 |  |  | 7,803 |  |  |  |  |  | 7,897 |
(Loss) income before income taxes |  | (3,281 | ) |  | (32,007 | ) |  | 3,640 |  |  | 51,828 |  |  | - |  |  | 20,180 |
State and federal income tax (benefit) provision |  | (298,775 | ) |  | (908 | ) |  | 12,719 |  |  |  |  |  |  |  |  | (286,964 | )
Equity in income (loss) from subsidiaries |  | 11,650 |  |  | (14,177 | ) |  | 51,828 |  |  |  |  |  | (49,301 | ) |  | - |
Net income (loss) |  | $307,144 |  |  | $(45,276 | ) |  | $42,749 |  |  | $51,828 |  |  | $(49,301 | ) |  | $307,144 |
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS YEAR ENDED OCTOBER 31, 2013
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | $3 |  |  |  | $(235 | ) |  |  | $1,497,016 |  |  |  | $311,730 |  |  |  | $(4,988 | ) |  |  | $1,803,526 |
Financial services |  |  |  |  |  |  |  |  |  |  | 9,386 |  |  |  | 38,341 |  |  |  |  |  |  |  | 47,727 |
Intercompany charges |  |  |  |  |  |  | 81,816 |  |  |  | (104,212 | ) |  |  | (2,325 | ) |  |  | 24,721 |  |  |  | - |
Total revenues |  |  | 3 |  |  |  | 81,581 |  |  |  | 1,402,190 |  |  |  | 347,746 |  |  |  | 19,733 |  |  |  | 1,851,253 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 8,608 |  |  |  | 123,511 |  |  |  | 1,373,360 |  |  |  | 295,390 |  |  |  | 10,670 |  |  |  | 1,811,539 |
Financial services |  |  | 17 |  |  |  |  |  |  |  | 6,721 |  |  |  | 22,321 |  |  |  |  |  |  |  | 29,059 |
Total expenses |  |  | 8,625 |  |  |  | 123,511 |  |  |  | 1,380,081 |  |  |  | 317,711 |  |  |  | 10,670 |  |  |  | 1,840,598 |
(Loss) gain on extinguishment of debt |  |  |  |  |  |  | (770,769 | ) |  |  | 770,009 |  |  |  |  |  |  |  |  |  |  |  | (760 | )
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 2,327 |  |  |  | 9,713 |  |  |  |  |  |  |  | 12,040 |
(Loss) income before income taxes |  |  | (8,622 | ) |  |  | (812,699 | ) |  |  | 794,445 |  |  |  | 39,748 |  |  |  | 9,063 |  |  |  | 21,935 |
State and federal income tax (benefit) provision |  |  | (21,541 | ) |  |  |  |  |  |  | 12,181 |  |  |  |  |  |  |  |  |  |  |  | (9,360 | )
Equity in income (loss) from subsidiaries |  |  | 18,376 |  |  |  | (11,514 | ) |  |  | 39,748 |  |  |  |  |  |  |  | (46,610 | ) |  |  | - |
Net income (loss) |  |  | $31,295 |  |  |  | $(824,213 | ) |  |  | $822,012 |  |  |  | $39,748 |  |  |  | $(37,547 | ) |  |  | $31,295 |
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS YEAR ENDED OCTOBER 31, 2012
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | $9 |  |  |  | $(270 | ) |  |  | $1,364,733 |  |  |  | $87,124 |  |  |  | $(4,978 | ) |  |  | $1,446,618 |
Financial services |  |  |  |  |  |  |  |  |  |  | 8,082 |  |  |  | 30,653 |  |  |  |  |  |  |  | 38,735 |
Intercompany charges |  |  |  |  |  |  | 98,805 |  |  |  | (120,094 | ) |  |  | (3,590 | ) |  |  | 24,879 |  |  |  | - |
Total revenues |  |  | 9 |  |  |  | 98,535 |  |  |  | 1,252,721 |  |  |  | 114,187 |  |  |  | 19,901 |  |  |  | 1,485,353 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Homebuilding |  |  | 3,030 |  |  |  | 150,297 |  |  |  | 1,300,728 |  |  |  | 79,899 |  |  |  | 5,334 |  |  |  | 1,539,288 |
Financial services |  |  | (28 | ) |  |  |  |  |  |  | 5,737 |  |  |  | 17,951 |  |  |  | (12 | ) |  |  | 23,648 |
Total expenses |  |  | 3,002 |  |  |  | 150,297 |  |  |  | 1,306,465 |  |  |  | 97,850 |  |  |  | 5,322 |  |  |  | 1,562,936 |
Loss on extinguishment of debt |  |  |  |  |  |  | (29,066 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (29,066 | )
Income from unconsolidated joint ventures |  |  |  |  |  |  |  |  |  |  | 561 |  |  |  | 4,840 |  |  |  |  |  |  |  | 5,401 |
(Loss) income before income taxes |  |  | (2,993 | ) |  |  | (80,828 | ) |  |  | (53,183 | ) |  |  | 21,177 |  |  |  | 14,579 |  |  |  | (101,248 | )
State and federal income tax (benefit) provision |  |  | (17,495 | ) |  |  |  |  |  |  | (17,580 | ) |  |  | 24 |  |  |  |  |  |  |  | (35,051 | )
Equity in (loss) income from subsidiaries |  |  | (80,699 | ) |  |  | (1,521 | ) |  |  | 21,153 |  |  |  |  |  |  |  | 61,067 |  |  |  | - |
Net (loss) income |  |  | $(66,197 | ) |  |  | $(82,349 | ) |  |  | $(14,450 | ) |  |  | $21,153 |  |  |  | $75,646 |  |  |  | $(66,197 | )
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS YEAR ENDED OCTOBER 31, 2014
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $307,144 |  |  | $(45,276 | ) |  | $42,749 |  |  | $51,828 |  |  | $(49,301 | ) |  | $307,144 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |  | (277,932 | ) |  | 14,334 |  |  | (303,507 | ) |  | 20,075 |  |  | 49,301 |  |  | (497,729 | )
Net cash provided by (used in) operating activities |  | 29,212 |  |  | (30,942 | ) |  | (260,758 | ) |  | 71,903 |  |  | - |  |  | (190,585 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of property and assets |  |  |  |  |  |  |  | 467 |  |  | 48 |  |  |  |  |  | 515 |
Purchase of property, equipment, and other fixed assets and acquisitions |  |  |  |  |  |  |  | (3,395 | ) |  | (28 | ) |  |  |  |  | (3,423 | )
(Increase) in restricted cash related to mortgage company |  |  |  |  |  |  |  |  |  |  | (655 | ) |  |  |  |  | (655 | )
Investment in and advances to unconsolidated joint ventures |  |  |  |  | (95 | ) |  | (831 | ) |  | (20,773 | ) |  |  |  |  | (21,699 | )
Distributions of capital from unconsolidated joint ventures |  |  |  |  | 203 |  |  | 3,787 |  |  | 7,117 |  |  |  |  |  | 11,107 |
Intercompany investing activities |  |  |  |  | (167,370 | ) |  |  |  |  |  |  |  | 167,370 |  |  | - |
Net cash (used in) provided by investing activities |  | - |  |  | (167,262 | ) |  | 28 |  |  | (14,291 | ) |  | 167,370 |  |  | (14,155 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from mortgages and notes |  |  |  |  |  |  |  | 39,345 |  |  | 1,425 |  |  |  |  |  | 40,770 |
Net proceeds from model sale leaseback financing programs |  |  |  |  |  |  |  | 17,232 |  |  | 1,982 |  |  |  |  |  | 19,214 |
Net payments from land bank financing programs |  |  |  |  |  |  |  | (8,297 | ) |  | (9,009 | ) |  |  |  |  | (17,306 | )
Net proceeds from senior notes |  |  |  |  | 121,447 |  |  |  |  |  |  |  |  |  |  |  | 121,447 |
Net payments related to mortgage warehouse lines of credit |  |  |  |  |  |  |  |  |  |  | (14,744 | ) |  |  |  |  | (14,744 | )
Deferred financing cost from land banking financing program and note issuances |  |  |  |  | (7,205 | ) |  | (4,051 | ) |  | (691 | ) |  |  |  |  | (11,947 | )
Intercompany financing activities |  | (29,212 | ) |  |  |  |  | 218,254 |  |  | (21,672 | ) |  | (167,370 | ) |  | - |
Net cash (used in) provided by financing activities |  | (29,212 | ) |  | 114,242 |  |  | 262,483 |  |  | (42,709 | ) |  | (167,370 | ) |  | 137,434 |
Net (decrease) increase in cash and cash equivalents |  | - |  |  | (83,962 | ) |  | 1,753 |  |  | 14,903 |  |  | - |  |  | (67,306 | )
Cash and cash equivalents balance, beginning of period |  |  |  |  | 243,470 |  |  | (6,479 | ) |  | 92,213 |  |  |  |  |  | 329,204 |
Cash and cash equivalents balance, end of period |  | $- |  |  | $159,508 |  |  | $(4,726 | ) |  | $107,116 |  |  | $- |  |  | $261,898 |
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS YEAR ENDED OCTOBER 31, 2013
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  |  | $31,295 |  |  |  | $(824,213 | ) |  |  | $822,012 |  |  |  | $39,748 |  |  |  | $(37,547 | ) |  |  | $31,295 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |  |  | 29,653 |  |  |  | 797,892 |  |  |  | (875,287 | ) |  |  | (11,832 | ) |  |  | 37,547 |  |  |  | (22,027 | )
Net cash provided by (used in) operating activities |  |  | 60,948 |  |  |  | (26,321 | ) |  |  | (53,275 | ) |  |  | 27,916 |  |  |  | - |  |  |  | 9,268 |
Net cash provided by investing activities |  |  |  |  |  |  | 235 |  |  |  | 11,819 |  |  |  | 18,231 |  |  |  | - |  |  |  | 30,285 |
Net cash (used in) provided by financing activities |  |  |  |  |  |  | (6,139 | ) |  |  | 52,914 |  |  |  | (30,356 | ) |  |  | - |  |  |  | 16,419 |
Intercompany financing activities - net |  |  | (60,948 | ) |  |  | 78,598 |  |  |  | (15,920 | ) |  |  | (1,730 | ) |  |  | - |  |  |  | - |
Net increase (decrease) in cash |  |  | - |  |  |  | 46,373 |  |  |  | (4,462 | ) |  |  | 14,061 |  |  |  | - |  |  |  | 55,972 |
Cash and cash equivalents balance, beginning of period |  |  | - |  |  |  | 197,097 |  |  |  | (2,017 | ) |  |  | 78,152 |  |  |  | - |  |  |  | 273,232 |
Cash and cash equivalents balance, end of period |  |  | $- |  |  |  | $243,470 |  |  |  | $(6,479 | ) |  |  | $92,213 |  |  |  | $- |  |  |  | $329,204 |
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS YEAR ENDED OCTOBER 31, 2012
(In thousands) |  | Parent |  |  | Subsidiary Issuer |  |  | Guarantor Subsidiaries |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  |  | $(66,197 | ) |  |  | $(82,349 | ) |  |  | $(14,450 | ) |  |  | $21,153 |  |  |  | $75,646 |  |  |  | $(66,197 | )
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities |  |  | 37,030 |  |  |  | 53,114 |  |  |  | 124,875 |  |  |  | (140,174 | ) |  |  | (75,646 | ) |  |  | (801 | )
Net cash (used in) provided by operating activities |  |  | (29,167 | ) |  |  | (29,235 | ) |  |  | 110,425 |  |  |  | (119,021 | ) |  |  | - |  |  |  | (66,998 | )
Net cash provided by (used in) investing activities |  |  | - |  |  |  | 146 |  |  |  | (3,260 | ) |  |  | 1,614 |  |  |  | - |  |  |  | (1,500 | )
Net cash provided by (used in) financing activities |  |  | 47,221 |  |  |  | (79,976 | ) |  |  | 49,670 |  |  |  | 74,075 |  |  |  | - |  |  |  | 90,990 |
Intercompany financing activities - net |  |  | (18,054 | ) |  |  | 194,040 |  |  |  | (153,863 | ) |  |  | (22,123 | ) |  |  | - |  |  |  | - |
Net increase (decrease) in cash |  |  | - |  |  |  | 84,975 |  |  |  | 2,972 |  |  |  | (65,455 | ) |  |  | - |  |  |  | 22,492 |
Cash and cash equivalents balance, beginning of period |  |  | - |  |  |  | 112,122 |  |  |  | (4,989 | ) |  |  | 143,607 |  |  |  | - |  |  |  | 250,740 |
Cash and cash equivalents balance, end of period |  |  | $- |  |  |  | $197,097 |  |  |  | $(2,017 | ) |  |  | $78,152 |  |  |  | $- |  |  |  | $273,232 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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