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EQUITY INVESTMENTS (Tables) - Grupo Vasconia S.A.B. | 12 Months Ended
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Dec. 31, 2015
Summarized Income Statement Information for Vasconia in USD and MXN | Summarized income statement information for the years ended December 31, 2015, 2014, and 2013, as well as summarized balance sheet information as of December 31, 2015 and 2014, for Vasconia in USD and MXN is as follows:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (in thousands) |
Income Statement |  | USD |  |  | MXN |  |  | USD |  |  | MXN |  |  | USD |  |  | MXN |
Net Sales |  | $ | 178,832 |  |  | $ | 2,824,399 |  |  | $ | 188,863 |  |  | $ | 2,514,294 |  |  | $ | 159,574 |  |  | $ | 2,038,200 |
Gross Profit |  |  | 33,982 |  |  |  | 534,285 |  |  |  | 35,592 |  |  |  | 474,482 |  |  |  | 28,775 |  |  |  | 367,944 |
Income from operations |  |  | 10,551 |  |  |  | 165,507 |  |  |  | 7,790 |  |  |  | 103,658 |  |  |  | 5,438 |  |  |  | 70,430 |
Net Income |  |  | 7,353 |  |  |  | 117,194 |  |  |  | 5,328 |  |  |  | 71,732 |  |  |  | 4,315 |  |  |  | 55,077 |
Adjustments(1) |  |  | — |  |  |  | — |  |  |  | 1,131 |  |  |  | 15,679 |  |  |  | (1,205 | ) |  |  | (15,630 | )
Net Income as reported by Vasconia(2) |  |  | 7,353 |  |  |  | 117,194 |  |  |  | 6,459 |  |  |  | 87,411 |  |  |  | 3,110 |  |  |  | 39,447 |
(1) | Certain adjustments were identified and not recorded in Vasconia’s consolidated financial statements for the year ended December 31, 2013 and were subsequently recorded by Vasconia in the year ended December 31, 2014. The Company recorded its proportionate share of the adjustments, approximately $0.3 million, net of tax, in the correct period in connection with its equity method accounting for its investment in Vasconia.
(2) | Vasconia’s consolidated financial statements for the years ended December 31, 2014 and 2013 were included as Exhibit 99.1 to Amendment 1 to the Company’s fiscal year 2014 Form 10-K.
Summarized Balance Sheet Information for Vasconia in USD and MXN |
|  | December 31, |
|  | 2015 |  |  | 2014 |
|  | (in thousands) |
Balance Sheet |  | USD |  |  | MXN |  |  | USD |  |  | MXN |
Current assets |  | $ | 100,482 |  |  | $ | 1,745,922 |  |  | $ | 110,865 |  |  | $ | 1,634,154 |
Non-current assets |  |  | 87,118 |  |  |  | 1,513,724 |  |  |  | 86,888 |  |  |  | 1,280,723 |
Current liabilities |  |  | 38,983 |  |  |  | 677,355 |  |  |  | 37,032 |  |  |  | 545,852 |
Non-current liabilities |  |  | 56,339 |  |  |  | 978,910 |  |  |  | 58,753 |  |  |  | 866,022 |

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- Definition Tabular disclosure of summarized financial information for unconsolidated subsidiaries and 50 percent-or-less owned entities accounted for using the equity method of accounting. If investments in common stock of corporate joint ventures or other investments accounted for under the equity method are, in the aggregate, material in relation to the financial position or results of operations of an investor, it may be necessary to present summarized information as to assets of the investee, or group of investments for which combined disclosure is appropriate, either by individual financial statement caption or in groups, as appropriate. + References No definition available. + Details
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- Details
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