Condensed Consolidating Financial Information (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Condensed Consolidating Balance Sheets |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | ASSETS | | | | | | | | | | | Current Assets: | | | | | | | | | | | Cash | | $ | 48 |
| | $ | 1,328 |
| | $ | 947 |
| | $ | — |
| | $ | 2,323 |
| Short-term investments | | 237,433 |
| | — |
| | — |
| | — |
| | 237,433 |
| Accounts receivable – net | | 78,334 |
| | 63,020 |
| | 8,969 |
| | (2,819 | ) | | 147,504 |
| Intercompany receivable | | — |
| | 105,938 |
| | — |
| | (105,938 | ) | | — |
| Inventories of spare parts – net | | 67,148 |
| | 9,007 |
| | — |
| | — |
| | 76,155 |
| Prepaid expenses | | 10,554 |
| | 2,394 |
| | 183 |
| | — |
| | 13,131 |
| Deferred income taxes | | 10,798 |
| | — |
| | — |
| | — |
| | 10,798 |
| Income taxes receivable | | 418 |
| | (4 | ) | | — |
| | — |
| | 414 |
| Total current assets | | 404,733 |
| | 181,683 |
| | 10,099 |
| | (108,757 | ) | | 487,758 |
| | | | | | | | | | | | Investment in subsidiaries | | 376,032 |
| | — |
| | — |
| | (376,032 | ) | | — |
| Property and equipment – net | | 626,402 |
| | 291,118 |
| | 614 |
| | — |
| | 918,134 |
| Restricted cash and investments | | 12,382 |
| | — |
| | 14 |
| | — |
| | 12,396 |
| Other assets | | 9,168 |
| | 1,004 |
| | — |
| | — |
| | 10,172 |
| Total assets | | $ | 1,428,717 |
| | $ | 473,805 |
| | $ | 10,727 |
| | $ | (484,789 | ) | | $ | 1,428,460 |
| | | | | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | Current Liabilities: | | | | | | | | | | | Accounts payable | | $ | 24,177 |
| | $ | 3,200 |
| | $ | 3,233 |
| | $ | (2,819 | ) | | $ | 27,791 |
| Accrued and other current liabilities | | 24,508 |
| | 7,836 |
| | 1,040 |
| | — |
| | 33,384 |
| Intercompany payable | | 97,739 |
| | — |
| | 8,199 |
| | (105,938 | ) | | — |
| Total current liabilities | | 146,424 |
| | 11,036 |
| | 12,472 |
| | (108,757 | ) | | 61,175 |
| | | | | | | | | | | | Long-term debt | | 631,096 |
| | — |
| | — |
| | — |
| | 631,096 |
| Deferred income taxes and other long-term liabilities | | 67,136 |
| | 83,926 |
| | 1,066 |
| | — |
| | 152,128 |
| Shareholders’ Equity: | | | | | | | | | | | Common stock and paid-in capital | | 307,367 |
| | 77,951 |
| | 1,375 |
| | (79,326 | ) | | 307,367 |
| Accumulated other comprehensive loss | | (254 | ) | | — |
| | — |
| | — |
| | (254 | ) | Retained earnings | | 276,948 |
| | 300,892 |
| | (4,186 | ) | | (296,706 | ) | | 276,948 |
| Total shareholders’ equity | | 584,061 |
| | 378,843 |
| | (2,811 | ) | | (376,032 | ) | | 584,061 |
| Total liabilities and shareholders’ equity | | $ | 1,428,717 |
| | $ | 473,805 |
| | $ | 10,727 |
| | $ | (484,789 | ) | | $ | 1,428,460 |
|
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | December 31, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | ASSETS | | | | | | | | | Current Assets: | | | | | | | | | Cash | | $ | 36 |
| | $ | 2,560 |
| | $ | — |
| | $ | 2,596 |
| Short-term investments | | 289,806 |
| | — |
| | — |
| | 289,806 |
| Accounts receivable – net | | 71,458 |
| | 66,807 |
| | — |
| | 138,265 |
| Intercompany receivable | | — |
| | 57,904 |
| | (57,904 | ) | | — |
| Inventories of spare parts – net | | 61,834 |
| | 8,568 |
| | — |
| | 70,402 |
| Prepaid expenses | | 6,990 |
| | 2,269 |
| | — |
| | 9,259 |
| Deferred income taxes | | 10,798 |
| | — |
| | — |
| | 10,798 |
| Income taxes receivable | | 558 |
| | (18 | ) | | — |
| | 540 |
| Total current assets | | 441,480 |
| | 138,090 |
| | (57,904 | ) | | 521,666 |
| | | | | | | | | | Investment in subsidiaries and others | | 353,160 |
| | — |
| | (353,160 | ) | | — |
| Property and equipment – net | | 589,104 |
| | 314,873 |
| | — |
| | 903,977 |
| Restricted investments | | 13,023 |
| | 15 |
| | — |
| | 13,038 |
| Other assets | | 8,660 |
| | 1,099 |
| | — |
| | 9,759 |
| Total assets | | $ | 1,405,427 |
| | $ | 454,077 |
| | $ | (411,064 | ) | | $ | 1,448,440 |
| | | | | | | | | | LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | Current Liabilities: | | | | | | | | | Accounts payable | | $ | 22,744 |
| | $ | 5,960 |
| | $ | — |
| | $ | 28,704 |
| Accrued and other current liabilities | | 18,725 |
| | 9,621 |
| | — |
| | 28,346 |
| Intercompany payable | | 57,904 |
| | — |
| | (57,904 | ) | | — |
| Total current liabilities | | 99,373 |
| | 15,581 |
| | (57,904 | ) | | 57,050 |
| | | | | | | | | | Long-term debt | | 631,247 |
| | — |
| | — |
| | 631,247 |
| Deferred income taxes and other long-term liabilities | | 75,029 |
| | 85,336 |
| | — |
| | 160,365 |
| Shareholders’ Equity: | | | | | | | | | Common stock and paid-in capital | | 305,815 |
| | 79,191 |
| | (79,191 | ) | | 305,815 |
| Accumulated other comprehensive loss | | (478 | ) | | — |
| | — |
| | (478 | ) | Retained earnings | | 294,441 |
| | 273,969 |
| | (273,969 | ) | | 294,441 |
| Total shareholders’ equity | | 599,778 |
| | 353,160 |
| | (353,160 | ) | | 599,778 |
| Total liabilities and shareholders’ equity | | $ | 1,405,427 |
| | $ | 454,077 |
| | $ | (411,064 | ) | | $ | 1,448,440 |
|
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
|
| Condensed Consolidating Statements of Operations |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | For the quarter ended June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Operating revenues, net | | $ | 75,045 |
| | $ | 68,857 |
| | $ | 5,341 |
| | $ | (2,819 | ) | | $ | 146,424 |
| Expenses: | | | | | | | | | | | Direct expenses | | 72,598 |
| | 51,806 |
| | 5,366 |
| | (2,819 | ) | | 126,951 |
| Selling, general and administrative expenses | | 10,916 |
| | 3,269 |
| | 66 |
| | (4 | ) | | 14,247 |
| Total operating expenses | | 83,514 |
| | 55,075 |
| | 5,432 |
| | (2,823 | ) | | 141,198 |
| Loss (gain) on disposal of assets, net | | 8 |
| | (1 | ) | | — |
| | — |
| | 7 |
| Equity in (income) loss of unconsolidated affiliates, net | | (75 | ) | | — |
| | 1,066 |
| | — |
| | 991 |
| Operating (loss) income | | (8,402 | ) | | 13,783 |
| | (1,157 | ) | | 4 |
| | 4,228 |
| Equity in net income of consolidated subsidiaries | | (14,613 | ) | | — |
| | — |
| | 14,613 |
| | — |
| Interest expense | | 8,082 |
| | 1 |
| | — |
| | — |
| | 8,083 |
| Other income, net | | (708 | ) | | (1 | ) | | — |
| | 4 |
| | (705 | ) | | | (7,239 | ) | | — |
| | — |
| | 14,617 |
| | 7,378 |
| (Loss) earnings before income taxes | | (1,163 | ) | | 13,783 |
| | (1,157 | ) | | (14,613 | ) | | (3,150 | ) | Income tax expense (benefit) | | 2,110 |
| | (1,987 | ) | | — |
| | — |
| | 123 |
| Net (loss) earnings | | $ | (3,273 | ) | | $ | 15,770 |
| | $ | (1,157 | ) | | $ | (14,613 | ) | | $ | (3,273 | ) |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | For the quarter ended June 30, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | Operating revenues, net | | $ | 89,365 |
| | $ | 77,771 |
| | $ | — |
| | $ | 167,136 |
| Expenses: | | | | | | | | | Direct expenses | | 89,535 |
| | 62,882 |
| | — |
| | 152,417 |
| Selling, general and administrative expenses | | 9,232 |
| | 2,871 |
| | (325 | ) | | 11,778 |
| Total operating expenses | | 98,767 |
| | 65,753 |
| | (325 | ) | | 164,195 |
| Gain on disposal of assets, net | | (4,298 | ) | | — |
| | — |
| | (4,298 | ) | Equity in loss of consolidated affiliates, net | | 76 |
| | — |
| | — |
| | 76 |
| Operating (loss) income | | (5,180 | ) | | 12,018 |
| | 325 |
| | 7,163 |
| Equity in net income of consolidated subsidiaries | | (7,035 | ) | | — |
| | 7,035 |
| | — |
| Interest expense | | 7,534 |
| | 6 |
| | — |
| | 7,540 |
| Other income, net | | (819 | ) | | — |
| | 325 |
| | (494 | ) | | | (320 | ) | | 6 |
| | 7,360 |
| | 7,046 |
| (Loss) earnings before income taxes | | (4,860 | ) | | 12,012 |
| | (7,035 | ) | | 117 |
| Income tax (benefit) expense | | (9,137 | ) | | 4,977 |
| | — |
| | (4,160 | ) | Net earnings | | $ | 4,277 |
| | $ | 7,035 |
| | $ | (7,035 | ) | | $ | 4,277 |
|
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Operating revenues, net | | $ | 149,329 |
| | $ | 126,330 |
| | $ | 8,202 |
| | $ | (2,819 | ) | | $ | 281,042 |
| Expenses: | | | | | | | | | | | Direct expenses | | 154,942 |
| | 104,187 |
| | 7,154 |
| | (2,819 | ) | | 263,464 |
| Selling, general and administrative expenses | | 21,024 |
| | 6,155 |
| | 120 |
| | (9 | ) | | 27,290 |
| Total operating expenses | | 175,966 |
| | 110,342 |
| | 7,274 |
| | (2,828 | ) | | 290,754 |
| Loss (gain) on disposal of assets, net | | 8 |
| | (1 | ) | | — |
| | — |
| | 7 |
| Equity in loss (income) of unconsolidated affiliates, net | | 928 |
| | — |
| | 1,066 |
| | — |
| | 1,994 |
| Operating income (loss) | | (27,573 | ) | | 15,989 |
| | (138 | ) | | 9 |
| | (11,713 | ) | Equity in net income of consolidated subsidiaries | | (17,243 | ) | | — |
| | — |
| | 17,243 |
| | — |
| Interest expense | | 16,256 |
| | 22 |
| | — |
| | — |
| | 16,278 |
| Other income, net | | (1,776 | ) | | (1 | ) | | — |
| | 9 |
| | (1,768 | ) | | | (2,763 | ) | | 21 |
| | — |
| | 17,252 |
| | 14,510 |
| (Loss) earnings before income taxes | | (24,810 | ) | | 15,968 |
| | (138 | ) | | (17,243 | ) | | (26,223 | ) | Income tax (benefit) expense | | (6,289 | ) | | (1,413 | ) | | — |
| | — |
| | (7,702 | ) | Net (loss) earnings | | $ | (18,521 | ) | | $ | 17,381 |
| | $ | (138 | ) | | $ | (17,243 | ) | | $ | (18,521 | ) |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | Operating revenues, net | | $ | 181,234 |
| | $ | 149,918 |
| | $ | — |
| | $ | 331,152 |
| Expenses: | | | | | | | | | Direct expenses | | 181,572 |
| | 123,399 |
| | — |
| | 304,971 |
| Selling, general and administrative expenses | | 18,275 |
| | 5,674 |
| | (498 | ) | | 23,451 |
| Total operating expenses | | 199,847 |
| | 129,073 |
| | (498 | ) | | 328,422 |
| Gain on disposal of assets, net | | (3,939 | ) | | — |
| | — |
| | (3,939 | ) | Equity in loss of unconsolidated affiliate | | 76 |
| | — |
| | — |
| | 76 |
| Operating (loss) income | | (14,750 | ) | | 20,845 |
| | 498 |
| | 6,593 |
| Equity in net income of consolidated subsidiaries | | (12,090 | ) | | — |
| | 12,090 |
| | — |
| Interest expense | | 15,047 |
| | 26 |
| | — |
| | 15,073 |
| Other income, net | | (1,603 | ) | | (4 | ) | | 498 |
| | (1,109 | ) | | | 1,354 |
| | 22 |
| | 12,588 |
| | 13,964 |
| (Loss) earnings before income taxes | | (16,104 | ) | | 20,823 |
| | (12,090 | ) | | (7,371 | ) | Income tax (benefit) expense | | (11,449 | ) | | 8,733 |
| | — |
| | (2,716 | ) | Net (loss) earnings | | $ | (4,655 | ) | | $ | 12,090 |
| | $ | (12,090 | ) | | $ | (4,655 | ) |
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
|
| Condensed Consolidated Statements of Comprehensive Income (Loss) |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | For the quarter ended June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net (loss) earnings | | $ | (3,273 | ) | | $ | 15,770 |
| | $ | (1,157 | ) | | $ | (14,613 | ) | | $ | (3,273 | ) | Unrealized gain on short-term investments | | 167 |
| | — |
| | — |
| | — |
| | 167 |
| Changes in pension plan asset and benefit obligation | | 23 |
| | — |
| | — |
| | — |
| | 23 |
| Tax effect of the above-listed adjustments | | (68 | ) | | — |
| | — |
| | — |
| | (68 | ) | Total comprehensive (loss) income | | $ | (3,151 | ) | | $ | 15,770 |
| | $ | (1,157 | ) | | $ | (14,613 | ) | | $ | (3,151 | ) |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | For the quarter ended June 30, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | Net earnings | | $ | 4,277 |
| | $ | 7,035 |
| | $ | (7,035 | ) | | $ | 4,277 |
| Unrealized gain on short-term investments | | 210 |
| | — |
| | — |
| | 210 |
| Changes in pension plan asset and benefit obligations | | 1 |
| | — |
| | — |
| | 1 |
| Tax effect of the above-listed adjustments | | (75 | ) | | — |
| | — |
| | (75 | ) | Total comprehensive (loss) income | | $ | 4,413 |
| | $ | 7,035 |
| | $ | (7,035 | ) | | $ | 4,413 |
|
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net (loss) earnings | | $ | (18,521 | ) | | $ | 17,381 |
| | $ | (138 | ) | | $ | (17,243 | ) | | $ | (18,521 | ) | Unrealized gain on short-term investments | | 329 |
| | — |
| | — |
| | — |
| | 329 |
| Changes in pension plan asset and benefit obligation | | 22 |
| | — |
| | — |
| | — |
| | 22 |
| Tax effect of the above-listed adjustments | | (127 | ) | | — |
| | — |
| | — |
| | (127 | ) | Total comprehensive (loss) income | | $ | (18,297 | ) | | $ | 17,381 |
| | $ | (138 | ) | | $ | (17,243 | ) | | $ | (18,297 | ) |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | Net (loss) earnings | | $ | (4,655 | ) | | $ | 12,090 |
| | $ | (12,090 | ) | | $ | (4,655 | ) | Unrealized gain on short-term investments | | 1,017 |
| | — |
| | — |
| | 1,017 |
| Changes in pension plan asset and benefit obligations | | 2 |
| | — |
| | — |
| | 2 |
| Tax effect of the above-listed adjustments | | (407 | ) | | — |
| | — |
| | (407 | ) | Total comprehensive (loss) income | | $ | (4,043 | ) | | $ | 12,090 |
| | $ | (12,090 | ) | | $ | (4,043 | ) |
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
|
| Condensed Consolidating Statements of Cash Flows |
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Thousands of dollars) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2017 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Net cash (used in) provided by operating activities | | $ | (34,236 | ) | | $ | 18,916 |
| | $ | 7,371 |
| | $ | — |
| | $ | (7,949 | ) | Investing activities: | | | | | | | | | | | Purchase of property and equipment | | (43,892 | ) | | — |
| | — |
| | — |
| | (43,892 | ) | Proceeds from asset dispositions | | 17 |
| | — |
| | — |
| | — |
| | 17 |
| Purchase of short-term investments | | (134,518 | ) | | — |
| | — |
| | — |
| | (134,518 | ) | Proceeds from sale of short-term investments | | 187,217 |
| | — |
| | — |
| | — |
| | 187,217 |
| Payments of deposits on aircraft | | (110 | ) | | — |
| | — |
| | — |
| | (110 | ) | Net cash provided by (used in) investing activities | | 8,714 |
| | — |
| | — |
| | — |
| | 8,714 |
| Financing activities: | | | | | | | | | | | Proceeds from line of credit | | 66,525 |
| | — |
| | — |
| | — |
| | 66,525 |
| Payments on line of credit | | (67,300 | ) | | — |
| | — |
| | — |
| | (67,300 | ) | Repurchase of common stock | | (263 | ) | | — |
| | — |
| | — |
| | (263 | ) | Due to/from affiliate, net | | 26,572 |
| | (19,688 | ) | | (6,884 | ) | | — |
| | — |
| Net cash provided by (used in) financing activities | | 25,534 |
| | (19,688 | ) | | (6,884 | ) | | — |
| | (1,038 | ) | Increase (decrease) in cash | | 12 |
| | (772 | ) | | 487 |
| | — |
| | (273 | ) | Cash, beginning of period | | 36 |
| | 2,100 |
| | 460 |
| | — |
| | 2,596 |
| Cash, end of period | | $ | 48 |
| | $ | 1,328 |
| | $ | 947 |
| | $ | — |
| | $ | 2,323 |
|
PHI, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (Thousands of dollars) | | | | | | | | | | | | | | | | | | | | For the six months ended June 30, 2016 | | | Parent
Company
Only (issuer) | | Guarantor
Subsidiaries (1) | | Eliminations | | Consolidated | Net cash (used in) provided by operating activities | | $ | (12,954 | ) | | $ | 13,753 |
| | $ | — |
| | $ | 799 |
| Investing activities: | | | | | | | | | Purchase of property and equipment | | (39,535 | ) | | (373 | ) | | — |
| | (39,908 | ) | Proceeds from asset dispositions | | 10,998 |
| | — |
| | — |
| | 10,998 |
| Purchase of short-term investments | | (151,436 | ) | | — |
| | — |
| | (151,436 | ) | Proceeds from sale of short-term investments | | 148,838 |
| | — |
| | — |
| | 148,838 |
| Payments of deposits on aircraft | | (131 | ) | | — |
| | — |
| | (131 | ) | Net cash used in investing activities | | (31,266 | ) | | (373 | ) | | — |
| | (31,639 | ) | Financing activities: | | | | | | | | | Proceeds from line of credit | | 150,800 |
| | — |
| | — |
| | 150,800 |
| Payments on line of credit | | (113,300 | ) | | — |
| | — |
| | (113,300 | ) | Repurchase of common stock | | (500 | ) | | — |
| | — |
| | (500 | ) | Due to/from affiliate, net | | 7,214 |
| | (7,214 | ) | | — |
| | — |
| Net cash provided by (used in) financing activities | | 44,214 |
| | (7,214 | ) | | — |
| | 37,000 |
| (Decrease) increase in cash | | (6 | ) | | 6,166 |
| | — |
| | 6,160 |
| Cash, beginning of period | | 46 |
| | 2,361 |
| | — |
| | 2,407 |
| Cash, end of period | | $ | 40 |
| | $ | 8,527 |
| | $ | — |
| | $ | 8,567 |
|
| | (1) | Foreign subsidiaries represent minor subsidiaries and are included in the guarantors’ subsidiaries amounts. |
|