XML 16 R25.htm IDEA: XBRL DOCUMENT

Supplemental Condensed Consolidating Financial Statements

12 Months Ended

Dec. 31, 2011

Supplemental Condensed Consolidating Financial Statements [Abstract]

Supplemental Condensed Consolidating Financial Statements

19. Supplemental Condensed Consolidating Financial Statements

The condensed consolidating financial information as of December 31, 2011 and January 1, 2011 and for fiscal 2011, fiscal 2010, and fiscal 2009 is provided due to restrictions in our revolving credit facility that limit distributions by BlueLinx Corporation, our operating company and our wholly-owned subsidiary, to us, which, in turn, may limit our ability to pay dividends to holders of our common stock (see Note 10, Revolving Credit Facility, for a more detailed discussion of these restrictions and the terms of the facility). Also included in the supplemental condensed consolidated/combining financial statements are fifty-seven single member limited liability companies, which are wholly owned by us (the “LLC subsidiaries”). The LLC subsidiaries own certain warehouse properties that are occupied by BlueLinx Corporation, each under the terms of a master lease agreement. The warehouse properties collateralize a mortgage loan and are not available to satisfy the debts and other obligations of either us or BlueLinx Corporation. Certain changes have been made to the prior year presentation to conform to the current year presentation.

The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,755,431		$	29,665		$	(29,665	)	$	1,755,431
Cost of sales		—			1,545,282			—			—			1,545,282

Gross profit		—			210,149			29,665			(29,665	)		210,149

Operating expenses (income):
Selling, general and administrative		3,728			244,398			(10,604	)		(29,665	)		207,857
Depreciation and amortization		—			6,790			3,772			—			10,562

Total operating expenses (income)		3,728			251,188			(6,832	)		(29,665	)		218,419

Operating (loss) income		(3.728	)		(41,039	)		36,497			—			(8,270	)
Non-operating expenses:
Interest expense		—			12,528			17,982			—			30,510
Changes associated with ineffective interest rate swap		—			(1,676	)		—			—			(1,676	)
Other expense (income), net		—			516			(15	)		—			501

(Loss) income before (benefit from) provision for income taxes		(3,728	)		(52,407	)		18,530			—			(37,605	)
(Benefit from) provision for income taxes		(6,768	)		503			7,227			—			962
Equity in (loss) income of subsidiaries		(41,607	)		—			—			41,607			—

Net (loss) income	$	(38,567	)	$	(52,910	)	$	11,303		$	41,607		$	(38,567	)

The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 1, 2011 follows (in thousands):

		September 30,			September 30,			September 30,		September 30,			September 30,
	BlueLinx Holdings			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	1,804,418		$	29,825	$	(29,825	)	$	1,804,418
Cost of sales		—			1,593,745			—		—			1,593,745

Gross profit		—			210,673			29,825		(29,825	)		210,673

Operating expenses (income):
Selling, general and administrative		9,663			241,152			195		(29,825	)		221,185
Depreciation and amortization		—			9,524			3,841		—			13,365

Total operating expenses (income)		9,663			250,676			4,036		(29,825	)		234,550

Operating (loss) income		(9,663	)		(40,003	)		25,789		—			(23,877	)
Non-operating expenses:
Interest expense		—			14,780			19,008		—			33,788
Changes associated with ineffective interest rate swap		—			(4,603	)		—		—			(4,603	)
Write-off of debt issuance costs		—			183			—		—			183
Other expense (income), net		—			576			11		—			587

(Loss) income before (benefit from) provision for income taxes		(9,663	)		(50,939	)		6,770		—			(53,832	)
(Benefit from) provision for income taxes		(2,533	)		(696	)		2,640		—			(589	)
Equity in (loss) income of subsidiaries		(46,113	)		—			—		46,113			—

Net (loss) income	$	(53,243	)	$	(50,243	)	$	4,130	$	46,113		$	(53,243	)

The condensed consolidating statement of operations for BlueLinx Holdings Inc. for the fiscal year ended January 2, 2010 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,646,108		$	29,916		$	(29,916	)	$	1,646,108
Cost of sales		—			1,452,947			—			—			1,452,947

Gross profit		—			193,161			29,916			(29,916	)		193,161

Operating expenses (income):
Selling, general and administrative		5,809			244,378			(10,057	)		(29,916	)		210,214
Net gain from terminating the Georgia-Pacific supply agreement		—			(17,772	)		—			—			(17,772	)
Depreciation and amortization		—			13,060			3,924			—			16,984

Total operating expenses (income)		5,809			239,666			(6,133	)		(29,916	)		209,426

Operating (loss) income		(5,809	)		(46,505	)		36,049			—			(16,265	)
Non-operating expenses:
Interest expense		—			13,223			19,233			—			32,456
Changes associated with ineffective interest rate swap		—			6,252			—			—			6,252
Write-off of debt issuance costs		—			1,407			—			—			1,407
Other expense (income), net		—			767			(248	)		—			519

(Loss) income before (benefit from) provision for income taxes		(5,809	)		(68,154	)		17,064			—			(56,899	)
(Benefit from) provision for income taxes		(2,261	)		170			6,655			—			4,564
Equity in (loss) income of subsidiaries		(57,915	)		—			—			57,915			—

Net (loss) income	$	(61,463	)	$	(68,324	)	$	10,409		$	57,915		$	(61,463	)

The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of December 31, 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash	$	27		$	4,871		$	—		$	—		$	4,898
Receivables		—			138,872			—			—			138,872
Inventories		—			185,577			—			—			185,577
Deferred income tax assets, current		—			—			—			—			—
Other current assets		498			17,882			8,761			—			27,141
Intercompany receivable		67,041			18,482			—			(85,523	)		—

Total current assets		67,566			365,684			8,761			(85,523	)		356,488

Property and equipment:
Land and land improvements		—			2,938			46,624			—			49,562
Buildings		—			10,463			85,189			—			95,652
Machinery and equipment		—			75,508			—			—			75,508
Construction in progress		—			741			—			—			741

Property and equipment, at cost		—			89,650			131,813			—			221,463
Accumulated depreciation		—			(70,426	)		(27,909	)		—			(98,335	)

Property and equipment, net		—			19,224			103,904			—			123,128
Investment in subsidiaries		(40,549	)		—			—			40,549			—
Non-current deferred income tax assets, net		—			358			—			—			358
Other non-current assets		—			14,747			9,194			—			23,941

Total assets	$	27,017		$	400,013		$	121,859		$	(44,974	)	$	503,915

Liabilities:
Current liabilities:
Accounts payable	$	161		$	68,639		$	1,428		$	—			70,228
Bank overdrafts		—			22,364			—			—			22,364
Accrued compensation		—			4,496			—			—			4,496
Current maturities of long-term debt		—			—			9,046			—			9,046
Deferred income tax liabilities, net		—			382			—			—			382
Other current liabilities		—			15,205			1,353			—			16,558
Intercompany payable		18,482			67,041			—			(85,523	)		—

Total current liabilities		18,643			178,127			11,827			(85,523	)		123,074

Non-current liabilities:
Long-term debt		—			94,488			234,207			—			328,695
Non current deferred income tax liabilities		—			—			—			—			—
Other non-current liabilities		—			43,772			—			—			43,772

Total liabilities		18,643			316,387			246,034			(85,523	)		495,541

Stockholders’ Equity/Parent’s Investment		8,374			83,626			(124,175	)		40,549			8,374

Total liabilities and equity	$	27,017		$	400,013		$	121,859		$	(44,974	)	$	503,915

The condensed consolidating balance sheet for BlueLinx Holdings Inc. as of January 1, 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
Assets:
Current assets:
Cash	$	384		$	13,913		$	—		$	—		$	14,297
Receivables		—			119,202			—			—			119,202
Inventories		—			188,250			—			—			188,250
Deferred income tax assets, current		—			143			—			—			143
Other current assets		669			20,500			1,599			—			22,768
Intercompany receivable		55,307			9,246			—			(64,553	)		—

Total current assets		56,360			351,254			1,599			(64,553	)		344,660

Property and equipment:
Land and land improvements		—			3,027			49,513			—			52,540
Buildings		—			8,069			88,651			—			96,720
Machinery and equipment		—			70,860			—			—			70,860
Construction in progress		—			2,028			—			—			2,028

Property and equipment, at cost		—			83,984			138,164			—			222,148
Accumulated depreciation		—			(65,564	)		(26,953	)		—			(92,517	)

Property and equipment, net		—			18,420			111,211			—			129,631
Investment in subsidiaries		(46,041	)		—			—			46,041			—
Other non-current assets		—			16,456			34,272			—			50,728

Total assets	$	10,319		$	386,130		$	147,082		$	(18,512	)	$	525,019

Liabilities:
Current liabilities:
Accounts payable	$	59		$	62,768		$	—		$	—			62,827
Bank overdrafts		—			23,089			—			—			23,089
Accrued compensation		—			4,594			—			—			4,594
Current maturities of long-term debt		—			—			1,190			—			1,190
Other current liabilities		—			15,065			1,727			—			16,792
Intercompany payable		9,265			55,288			—			(64,553	)		—

Total current liabilities		9,324			160,804			2,917			(64,553	)		108,492

Non-current liabilities:
Long-term debt		—			97,200			284,479			—			381,679
Non current deferred income tax liabilities		—			192			—			—			192
Other non-current liabilities		4			33,661			—			—			33,665

Total liabilities		9,328			291,857			287,396			(64,553	)		524,028

Stockholders’ Equity/Parent’s Investment		991			94,273			(140,314	)		46,041			991

Total liabilities and equity	$	10,319		$	386,130		$	147,082		$	(18,512	)	$	525,019

The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended December 31, 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation			LLC Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(38,567	)	$	(52,910	)	$	11,303		$	41,607		$	(38,567	)
Adjustments to reconcile net (loss) income to cash (used in) provided by operations:
Depreciation and amortization		—			6,790			3,772			—			10,562
Amortization of debt issue costs		—			1,983			957			—			2,940
Gain from sale of properties		—			—			(10,604	)		—			(10,604	)
Gain from property insurance settlement		—			—			(1,230	)		—			(1,230	)
Changes associated with ineffective interest rate swap		—			(1,676	)		—			—			(1,676	)
Vacant property changes		—			(291	)		—			—			(291	)
Gain on modification of lease agreement		—			(1,971	)		—			—			(1,971	)
Deferred income tax benefit		—			(25	)		—			—			(25	)
Share-based compensation expense		—			1,602			372			—			1,974
Decrease in restricted cash related to the ineffective interest swap, insurance, and other		—			987			—			—			987
Equity in earnings of subsidiaries		41,607			—			—			(41,607	)		—
Changes in assets and liabilities:
Receivables		—			(19,670	)		—			—			(19,670	)
Inventories		—			2,673			—			—			2,673
Accounts payable		102			5,871			—			—			5,973
Changes in other working capital		167			530			172			(1,244	)		(375	)
Intercompany receivable		(9,833	)		(9,723	)		—			19,556			—
Intercompany payable		9,218			9,094			—			(18,312	)		—
Other		(503	)		2,436			(2,276	)		—			(343	)

Net cash provided by (used in) operating activities		2,191			(54,300	)		2,466			—			(49,643	)

Cash flows from investing activities:
Investment in subsidiaries		(61,073	)		54,706			6,367			—			—
Property, plant and equipment investments		—			(3,892	)		(3,330	)		—			(7,222	)
Proceeds from sale of assets		—			504			17,851			—			18,355

Net cash provided by (used in) investing activities		(61,073	)		51,318			20,888			—			11,133

Cash flows from financing activities:
Net transactions with Parent		—			—			—			—			—
Repayments on revolving credit facilities		—			(478,630	)		—			—			(478,630	)
Borrowings on revolving credit facilities		—			475,918			—			—			475,918
Payment of principal on mortgage		—			—			(42,416	)		—			(42,416	)
Payments on capital lease obligations		—			(1,440	)		—			—			(1,440	)
Decrease in bank overdrafts		—			(725	)		—			—			(725	)
Decrease in restricted cash related to the mortgage		—			—			20,604			—			20,604
Debt financing costs		—			(1,179	)		(1,542	)		—			(2,721	)
Proceeds from stock offering less expenses paid		58,521			—			—			—			58,521
Intercompany receivable		—			—			—			—			—
Intercompany payable		—			—			—			—			—

Net cash (used in) provided by financing activities		58,521			(6,056	)		(23,354	)		—			29,111

Increase (decrease) in cash		(361	)		(9,038	)		—			—			(9,399	)
Cash and cash equivalents balance, beginning of period		384			13,913			—			—			14,297

Cash and cash equivalents balance, end of period	$	23		$	4,875		$	—		$	—		$	4,898

Supplemental cash flow information:
Net income tax refunds (income taxes paid) during the period	$	—		$	231		$	(253	)	$	—		$	(22	)

Interest paid during the period	$	—		$	10,783		$	17,315		$	—		$	28,098


Noncash transactions:

Capital leases	$	—		$	3,131		$	—		$	—		$	3,131

The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 1, 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation			LLC Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(53,243	)	$	(50,243	)	$	4,130		$	46,113		$	(53,243	)
Adjustments to reconcile net (loss) income to cash (used in) provided by operations:
Depreciation and amortization		—			9,854			3,511			—			13,365
Amortization of debt issue costs		—			1,298			665			—			1,963
Net gain from terminating the G-P Supply Agreement		—			—			—			—			—
Payments from terminating the G-P Supply Agreement		—			4,706			—			—			4,706
Gain from sale of properties		—			—			—			—			—
Prepayment penalty associated with sale of facility		—			—			—			—			—
Changes associated with ineffective interest rate swap		—			(4,603	)		—			—			(4,603	)
Write-off of debt issuance costs		—			183			—			—			183
Vacant property changes		—			53			—			—			53
Deferred income tax provision (benefit)		910			1,041			(2,551	)		—			(600	)
Share-based compensation expense		1,856			2,122			—			—			3,978
Increase in restricted cash related to the ineffective interest swap, insurance, and other		—			6,556			—			—			6,556
Equity in earnings of subsidiaries		46,113			—			—			(46,113	)		—
Changes in assets and liabilities:
Receivables		—			145			—			—			145
Inventories		—			(15,065	)		—			—			(15,065	)
Accounts payable		21			(1,812	)		—			—			(1,791	)
Changes in other working capital		279			15,267			(94	)		—			15,452
Intercompany receivable		8,598			(3,453	)		—			(5,145	)		—
Intercompany payable		6,122			(6,356	)		(4,911	)		5,145			—
Other		(47	)		(1,442	)		481			—			(1,008	)

Net cash provided by (used in) operating activities		10,609			(41,749	)		1,231			—			(29,909	)

Cash flows from investing activities:
Investment in subsidiaries		(9,674	)		—			9,674			—			—
Property, plant and equipment investments		—			(4,092	)		—			—			(4,092	)
Proceeds from sale of assets		—			711			—			—			711

Net cash provided by (used in) investing activities		(9,674	)		(3,381	)		9,674			—			(3,381	)

Cash flows from financing activities:
Net transactions with Parent		—			—			—			—			—
Repurchase of common stock		(583	)		—			—			—			(583	)
Repayments on revolving credit facility		—			(466,219	)		—			—			(466,219	)
Borrowings on revolving credit facility		—			507,419			—			—			507,419
Debt financing costs		—			(6,521	)		—			—			(6,521	)
Payment of principal on mortgage		—			—			—			—			—
Prepayment fees associated with sale of facility		—			—			—			—			—
Decrease in bank overdrafts		—			(4,143	)		—			—			(4,143	)
Increase in restricted cash related to the mortgage		—			—			(11,201	)		—			(11,201	)
Intercompany receivable		—			—			—			—			—
Intercompany payable		—			—			—			—			—
Payments on capital lease obligations		—			(622	)		—			—			(622	)

Net cash (used in) provided by financing activities		(583	)		29,914			(11,201	)		—			18,130

Increase (decrease) in cash		352			(15,216	)		(296	)		—			(15,160	)
Cash and cash equivalents balance, beginning of period		32			29,129			296			—			29,457

Cash and cash equivalents balance, end of period	$	384		$	13,913		$	—		$	—		$	14,297

Supplemental cash flow information:
Net income tax refunds (income taxes paid) during the period	$	—		$	20,098		$	(115	)	$	—		$	19,983

Interest paid during the period	$	—		$	13,280		$	18,395		$	—		$	31,675


Noncash transactions:
Capital leases	$	—		$	1,889		$	—		$	—		$	1,889

The condensed consolidating statement of cash flows for BlueLinx Holdings Inc. for the fiscal year ended January 2, 2010 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation			LLC Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss) income	$	(61,463	)	$	(68,324	)	$	10,409		$	57,915		$	(61,463	)
Adjustments to reconcile net (loss) income to cash (used in) provided by operations:
Depreciation and amortization		—			13,059			3,925			—			16,984
Amortization of debt issue costs		—			1,806			653			—			2,459
Net gain from terminating the G-P Supply Agreement		—			(17,772	)		—			—			(17,772	)
Payments from terminating the G-P Supply Agreement		—			14,118			—			—			14,118
Gain from sale of properties		—			(169	)		(10,228	)		—			(10,397	)
Prepayment penalty associated with sale of facility		—			—			616			—			616
Changes associated with ineffective interest rate swap		—			6,252			—			—			6,252
Write-off of debt issuance costs		—			1,407			—			—			1,407
Vacant property changes		—			1,222			—			—			1,222
Deferred income tax (benefit) provision		(620	)		22,565			2,275			—			24,220
Share-based compensation expense		1,773			1,149			—			—			2,922
Increase in restricted cash related to the ineffective interest swap, insurance, and other		—			(2,511	)		—			—			(2,511	)
Equity in earnings of subsidiaries		57,915			—			—			(57,915	)		—
Changes in assets and liabilities:
Receivables		—			11,306			—			—			11,306
Inventories		—			16,297			—			—			16,297
Accounts payable		(79	)		(13,670	)		—			—			(13,749	)
Changes in other working capital		(1,225	)		(10,585	)		(1,773	)		—			(13,583	)
Intercompany receivable		(1,039	)		248			3,229			(2,438	)		—
Intercompany payable		(2,898	)		—			460			2,438			—
Other		—			2,017			(198	)		—			1,819

Net cash (used in) provided by operating activities		(7,636	)		(21,585	)		9,368			—			(19,853	)

Cash flows from investing activities:
Investment in subsidiaries		32,392			—			—			(32,392	)		—
Property, plant and equipment investments		—			(1,815	)		—			—			(1,815	)
Proceeds from sale of assets		—			2,027			12,424			—			14,451

Net cash provided by (used in) investing activities		32,392			212			12,424			(32,392	)		12,636

Cash flows from financing activities:
Net transactions with Parent		—			(24,994	)		(7,398	)		32,392			—
Repurchase of common stock		(2,042	)		—			—			—			(2,042	)
Repayments on revolving credit facility		—			(116,682	)		—			—			(116,682	)
Borrowings on revolving credit facility		—			16,682			—			—			16,682
Payment of principal on mortgage		—			—			(3,201	)		—			(3,201	)
Prepayment fees associated with sale of facility		—			—			(616	)		—			(616	)
Increase in bank overdrafts		—			2,517			—			—			2,517
Increase in restricted cash related to the mortgage		—			—			(10,296	)					(10,296	)
Intercompany receivable		(22,720	)		—			—			22,720			—
Intercompany payable		—			22,720			—			(22,720	)		—
Other		6			—			(47	)		—			(41	)

Net cash (used in) provided by financing activities		(24,756	)		(99,757	)		(21,558	)		32,392			(113,679	)

(Decrease) increase in cash		—			(121,130	)		234			—			(120,896	)
Cash and cash equivalents balance, beginning of period		32			150,259			62			—			150,353

Cash and cash equivalents balance, end of period	$	32		$	29,129		$	296		$	—		$	29,457

Supplemental cash flow information:
Net income tax refunds (income taxes paid) during the period	$	—		$	10,797		$	(498	)	$	—		$	10,299

Interest paid during the period	$	—		$	11,373		$	16,915		$	—		$	28,288

The condensed consolidating statement of stockholders’ equity for BlueLinx Holdings Inc. for fiscal 2009, fiscal 2010 and fiscal 2011 follows (in thousands):

		September 30,			September 30,			September 30,			September 30,			September 30,
	BlueLinx Holdings Inc.			BlueLinx Corporation and Subsidiaries			LLC Subsidiaries			Eliminations			Consolidated
Balance, January 3, 2009	$	102,852		$	225,987		$	(157,129	)	$	(68,858	)	$	102,852
Net income (loss)		(61,463	)		(68,324	)		10,409			57,915			(61,463	)
Foreign currency translation adjustment, net of tax		1,173			1,173			—			(1,173	)		1,173
Unrealized net gain from pension plan, net of tax		941			941			—			(941	)		941
Unrealized gain from cash flow hedge, net of tax		6,431			6,431			—			(6,431	)		6,431
Issuance of restricted stock		6			—			—			—			6
Repurchase of restricted stock		(2,042	)		—			—			—			(2,042	)
Compensation related to share-based grants		2,922			—			—			—			2,922

Net transactions with the Parent		—			(23,845	)		(7,398	)		31,243			—

Balance, January 2, 2010	$	50,820		$	142,363		$	(154,118	)	$	11,755		$	50,820
Net income (loss)		(53,243	)		(50,243	)		4,130			46,113			(53,243	)
Foreign currency translation adjustment, net of tax		336			336			—			(336	)		336
Unrealized loss from pension plan, net of tax		(616	)		(616	)		—			616			(616	)
Unrealized gain from cash flow hedge, net of tax		1,297			1,297			—			(1,297	)		1,297
Issuance of restricted stock		7			—			—			—			7
Repurchase of restricted stock		(583	)		—			—			—			(583	)
Compensation related to share-based grants		3,876			—			—			—			3,876
Reclassification of equity award to liability		(903	)		—			—			—			(903	)

Net transactions with the Parent		—			1,136			9,674			(10,810	)		—


Balance, January 1, 2011	$	991		$	94,273		$	(140,314	)	$	46,041		$	991
Net income (loss)		(38,567	)		(52,910	)		11,303			41,607			(38,567	)
Foreign currency translation adjustment, net of tax		(92	)		(92	)		—			92			(92	)
Unrealized loss from pension plan, net of tax		(14,969	)		(14,969	)		—			14,969			(14,969	)
Unrealized gain from cash flow hedge, net of tax		519			519			—			(519	)		519
Issuance of restricted stock, net of forfeitures		7			—			—			—			7
Issuance of stock related to the rights offering, net of expenses		58,521			—			—			—			58,521
Compensation related to share-based grants		2,158			—			—			—			2,158
Impact of net settled shares for vested grants		(194	)		—			—			—			(194	)

Net transactions with the Parent		—			56,805			4,836			(61,641	)		—

Balance, December 31, 2011	$	8,374		$	83,626		$	(124,175	)	$	40,549		$	8,374