EQUITY INVESTMENTS (Tables) - Grupo Vasconia S.A.B.

12 Months Ended

Dec. 31, 2016

Summarized Income Statement Information for Vasconia in USD and MXN

Summarized income statement information for the years ended December 31, 2016, 2015, and 2014, as well as summarized balance sheet information as of December 31, 2016 and 2015, for Vasconia in USD and MXN is as follows:


	Year Ended December 31,
	2016				2015				2014
	(in thousands)
Income Statement	USD		MXN		USD		MXN		USD		MXN
Net Sales	$	149,533	$	2,795,009	$	178,832	$	2,824,399	$	188,863	$	2,514,294
Gross Profit		27,205		510,617		33,982		534,285		35,592		474,482
Income from operations		5,611		105,334		10,551		165,507		7,790		103,658
Net Income		3,491		68,230		7,353		117,194		5,328		71,732
Adjustments ⁽¹⁾		—		—		—		—		1,131		15,679
Net Income as reported by Vasconia ⁽²⁾	$	3,491	$	68,230	$	7,353	$	117,194	$	6,459	$	87,411

⁽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 of accounting for its investment in Vasconia.

⁽²⁾	Vasconia’s consolidated financial statements for the year ended December 31, 2014 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,
	2016				2015
	(in thousands)
Balance Sheet	USD		MXN		USD		MXN
Current assets	$	81,509	$	1,687,396	$	100,482	$	1,745,922
Non-current assets		83,890		1,736,681		87,118		1,513,724
Current liabilities		31,303		648,028		38,983		677,355
Non-current liabilities		49,408		1,022,842		56,339		978,910