Quarterly report pursuant to Section 13 or 15(d)

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

v2.4.0.8
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)
9 Months Ended
Sep. 30, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Supplemental Condensed Consolidating Balance Sheet
Supplemental Condensed Consolidating Balance Sheet as of September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands, except share data)
ASSETS
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
7,890

 
$
13,462

 
$
1,165

 
$

 
$
22,517

Receivables:
 
 
 
 
 
 
 
 
 
 
Trade, net of allowance for doubtful accounts of $3,010
 

 
48,012

 
140

 

 
48,152

Other
 
189

 
3,161

 

 
(106
)
 
3,244

Intercompany receivables
 
543,821

 
11,436

 

 
(555,257
)
 

Inventories, net
 

 
26,692

 

 

 
26,692

Deferred income taxes
 
3,908

 

 

 
(266
)
 
3,642

Prepaid expenses and other
 
23

 
1,255

 

 

 
1,278

Escrow deposits
 

 
9,900

 

 

 
9,900

Total current assets
 
555,831

 
113,918

 
1,305

 
(555,629
)
 
115,425

Property and Equipment
 

 
1,003,407

 
11,500

 

 
1,014,907

Accumulated depreciation
 

 
(253,746
)
 
(1,553
)
 

 
(255,299
)
Net property and equipment
 

 
749,661

 
9,947

 

 
759,608

Investments, at Equity, and Advances to 50% or Less Owned Companies
 

 
36,113

 

 

 
36,113

Investments, at Equity in Consolidated Subsidiaries
 
100,308

 

 

 
(100,308
)
 

Goodwill
 

 
352

 

 

 
352

Other Assets
 
5,657

 
10,414

 

 

 
16,071

Total Assets
 
$
661,796

 
$
910,458

 
$
11,252

 
$
(655,937
)
 
$
927,569

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
$
953

 
$
15,795

 
$
48

 
$

 
$
16,796

Accrued wages and benefits
 

 
8,937

 

 

 
8,937

Accrued interest
 
4,607

 
18

 

 

 
4,625

Intercompany payables
 
10,633

 
527,907

 
11,442

 
(549,982
)
 

Current portion of long-term debt
 

 
2,787

 

 

 
2,787

Other current liabilities
 

 
7,000

 

 
(106
)
 
6,894

Total current liabilities
 
16,193

 
562,444

 
11,490

 
(550,088
)
 
40,039

Long-Term Debt
 
211,809

 
28,220

 

 

 
240,029

Deferred Income Taxes
 

 
209,238

 

 
(755
)
 
208,483

Deferred Gains and Other Liabilities
 

 
3,780

 

 
1,563

 
5,343

Total liabilities
 
228,002

 
803,682

 
11,490

 
(549,280
)
 
493,894

 
 
 
 
 
 
 
 
 
 
 
Equity:
 
 
 
 
 
 
 
 
 
 
Era Group Inc. stockholders’ equity:
 
 
 
 
 
 
 
 
 
 
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,189,522 issued and outstanding in 2013 (exclusive of 3,673 treasury shares)
 
202

 

 

 

 
202

Additional paid-in capital
 
420,650

 
99,845

 
496

 
(100,341
)
 
420,650

Retained earnings (accumulated deficit)
 
12,928

 
7,050

 
(734
)
 
(6,316
)
 
12,928

Treasury shares, at cost (3,673 in 2013)
 
(94
)
 

 

 

 
(94
)
Accumulated other comprehensive loss, net of tax
 
108

 

 

 

 
108

 
 
433,794

 
106,895

 
(238
)
 
(106,657
)
 
433,794

Noncontrolling interest in subsidiary
 

 
(119
)
 

 

 
(119
)
Total equity
 
433,794

 
106,776

 
(238
)
 
(106,657
)
 
433,675

Total Liabilities and Stockholders’ Equity
 
$
661,796

 
$
910,458

 
$
11,252

 
$
(655,937
)
 
$
927,569


Supplemental Condensed Consolidating Balance Sheet as of December 31, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands, except share data)
ASSETS
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
2,258

 
$
8,558

 
$
689

 
$

 
$
11,505

Receivables:
 
 
 
 
 
 
 
 
 
 
Trade, net of allowance for doubtful accounts of $2,668
 

 
48,217

 
310

 

 
48,527

Other
 
971

 
3,742

 

 

 
4,713

Due from SEACOR and affiliates
 
560,327

 

 

 
(560,327
)
 

Inventories, net
 

 
26,650

 

 

 
26,650

Deferred income taxes
 
4,625

 

 

 
(983
)
 
3,642

Prepaid expenses and other
 

 
1,803

 

 

 
1,803

Total current assets
 
568,181

 
88,970

 
999

 
(561,310
)
 
96,840

Property and Equipment
 

 
1,018,776

 
11,500

 

 
1,030,276

Accumulated depreciation
 

 
(241,436
)
 
(1,035
)
 

 
(242,471
)
Net property and equipment
 

 
777,340

 
10,465

 

 
787,805

Investments, at Equity, and Advances to 50% or Less Owned Companies
 

 
34,696

 

 

 
34,696

Investments, at Equity in Consolidated Subsidiaries
 
100,101

 
9,782

 

 
(109,883
)
 

Goodwill
 

 
352

 

 

 
352

Other Assets
 
5,958

 
24,374

 

 
(12,461
)
 
17,871

Total Assets
 
$
674,240

 
$
935,514

 
$
11,464

 
$
(683,654
)
 
$
937,564

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
 
$

 
$
15,618

 
$
85

 
$

 
$
15,703

Accrued wages and benefits
 

 
4,576

 

 

 
4,576

Accrued interest
 
1,357

 
44

 

 

 
1,401

Intercompany payables
 
5,491

 
560,323

 
10,965

 
(576,779
)
 

Current portion of long-term debt
 

 
2,787

 

 

 
2,787

Other current liabilities
 
1,445

 
3,787

 

 

 
5,232

Total current liabilities
 
8,293

 
587,135

 
11,050

 
(576,779
)
 
29,699

Long-Term Debt
 
246,637

 
30,311

 

 

 
276,948

Deferred Income Taxes
 

 
204,520

 

 
(984
)
 
203,536

Deferred Gains and Other Liabilities
 

 
7,864

 

 

 
7,864

Total liabilities
 
254,930

 
829,830

 
11,050

 
(577,763
)
 
518,047

Series A Preferred Stock, at redemption value; $0.01 par value, 10,000,000 shares authorized; none issued and outstanding in 2013; 1,400,000 shares issued and outstanding in 2012
 
144,232

 

 

 

 
144,232

Equity:
 
 
 
 
 
 
 
 
 
 
Era Group Inc. stockholders’ equity:
 
 
 
 
 
 
 
 
 
 
Class B common stock, $0.01 par value, 60,000,000 shares authorized; 24,500,000 issued and outstanding
 
245

 

 

 

 
245

Additional paid-in capital
 
278,838

 
109,674

 
496

 
(110,170
)
 
278,838

Accumulated deficit
 
(4,025
)
 
(4,217
)
 
(82
)
 
4,299

 
(4,025
)
Accumulated other comprehensive income, net of tax
 
20

 
20

 

 
(20
)
 
20

 
 
275,078

 
105,477

 
414

 
(105,891
)
 
275,078

Noncontrolling interest in subsidiary
 

 
207

 

 

 
207

Total equity
 
275,078

 
105,684

 
414

 
(105,891
)
 
275,285

Total Liabilities and Stockholders’ Equity
 
$
674,240

 
$
935,514

 
$
11,464

 
$
(683,654
)
 
$
937,564

Supplemental Condensed Consolidating Statement of Operations
Supplemental Condensed Consolidating Statement of Operations for the Three Months Ended September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Operating Revenues
 
$

 
$
80,701

 
$
296

 
$

 
$
80,997

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
Operating
 

 
51,142

 
196

 

 
51,338

Administrative and general
 
1,665

 
8,016

 
2

 

 
9,683

Depreciation
 

 
11,167

 
173

 

 
11,340

 
 
1,665

 
70,325

 
371

 

 
72,361

Gains on Asset Dispositions, Net
 

 
2,560

 

 

 
2,560

Operating Income (Loss)
 
(1,665
)
 
12,936

 
(75
)
 

 
11,196

Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
Interest income
 
28

 
127

 

 

 
155

Interest expense
 
(4,143
)
 
(251
)
 

 

 
(4,394
)
Intercompany interest
 
8,072

 
(7,916
)
 
(156
)
 

 

Derivative losses, net
 

 
(96
)
 

 

 
(96
)
Foreign currency gains, net
 
1

 
408

 

 

 
409

Other, net
 
7

 

 

 

 
7

 
 
3,965

 
(7,728
)
 
(156
)
 

 
(3,919
)
Income (Loss) Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies and Subsidiaries
 
2,300

 
5,208

 
(231
)
 

 
7,277

Income Tax Expense
 
726

 
1,989

 

 

 
2,715

Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies and Subsidiaries
 
1,574

 
3,219

 
(231
)
 

 
4,562

Equity in Earnings of 50% or Less Owned Companies, Net of Tax
 

 
526

 

 

 
526

Equity in Earnings (Losses) of Subsidiaries
 
3,514

 

 

 
(3,514
)
 

Net Income (Loss)
 
5,088

 
3,745

 
(231
)
 
(3,514
)
 
5,088

Net Loss Attributable to Noncontrolling Interest in Subsidiary
 

 
116

 

 

 
116

Net Income (Loss) Attributable to Era Group Inc.
 
5,088

 
3,861

 
(231
)
 
(3,514
)
 
5,204

Net Income (Loss) Attributable to Common Shares
 
$
5,088

 
$
3,861

 
$
(231
)
 
$
(3,514
)
 
$
5,204


Supplemental Condensed Consolidating Statement of Operations for the Nine Months Ended September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Operating Revenues
 
$

 
$
221,986

 
$
975

 
$

 
$
222,961

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
Operating
 

 
140,766

 
633

 

 
141,399

Administrative and general
 
4,563

 
23,796

 
3

 

 
28,362

Depreciation
 

 
33,914

 
518

 

 
34,432

 
 
4,563

 
198,476

 
1,154

 

 
204,193

Gains on Asset Dispositions, Net
 

 
17,837

 

 

 
17,837

Operating Income (Loss)
 
(4,563
)
 
41,347

 
(179
)
 

 
36,605

Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
Interest income
 
63

 
387

 
2

 

 
452

Interest expense
 
(13,000
)
 
(739
)
 

 

 
(13,739
)
Intercompany interest
 
24,573

 
(24,098
)
 
(475
)
 

 

SEACOR management fees
 
(168
)
 

 

 

 
(168
)
Derivative losses, net
 

 
(78
)
 

 

 
(78
)
Foreign currency gains, net
 

 
465

 

 

 
465

Other, net
 
13

 
6

 

 

 
19

 
 
11,481

 
(24,057
)
 
(473
)
 

 
(13,049
)
Income (Loss) Before Income Tax Expense and Equity in Earnings of 50% or Less Owned Companies and Subsidiaries
 
6,918

 
17,290

 
(652
)
 

 
23,556

Income Tax Expense
 
1,015

 
7,676

 

 

 
8,691

Income (Loss) Before Equity in Earnings of 50% or Less Owned Companies and Subsidiaries
 
5,903

 
9,614

 
(652
)
 

 
14,865

Equity in Earnings of 50% or Less Owned Companies, Net of Tax
 

 
1,762

 

 

 
1,762

Equity in Earnings (Losses) of Subsidiaries
 
10,724

 

 

 
(10,724
)
 

Net Income (Loss)
 
16,627

 
11,376

 
(652
)
 
(10,724
)
 
16,627

Net Loss Attributable to Noncontrolling Interest in Subsidiary
 

 
326

 

 

 
326

Net Income (Loss) Attributable to Era Group Inc.
 
16,627

 
11,702

 
(652
)
 
(10,724
)
 
16,953

Accretion of Redemption Value on Series A Preferred Stock
 
721

 

 

 

 
721

Net Income (Loss) Attributable to Common Shares
 
$
15,906

 
$
11,702

 
$
(652
)
 
$
(10,724
)
 
$
16,232


Supplemental Condensed Consolidating Statement of Operations for the Three Months Ended September 30, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Operating Revenues
 
$

 
$
77,989

 
$

 
$

 
$
77,989

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
Operating
 

 
46,235

 

 

 
46,235

Administrative and general
 
397

 
9,941

 

 

 
10,338

Depreciation
 

 
10,937

 

 

 
10,937

 
 
397

 
67,113

 

 

 
67,510

Gains on Asset Dispositions, Net
 

 
613

 

 

 
613

Operating Income (Loss)
 
(397
)
 
11,489

 

 

 
11,092

Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
Interest income
 
10

 
174

 

 

 
184

Interest expense
 
(2,269
)
 
(274
)
 

 

 
(2,543
)
Intercompany interest
 
4,765

 
(4,765
)
 

 

 

SEACOR management fees
 

 
(500
)
 

 

 
(500
)
Derivative losses, net
 

 
(188
)
 

 

 
(188
)
Foreign currency losses, net
 

 
(272
)
 

 

 
(272
)
 
 
2,506

 
(5,825
)
 

 

 
(3,319
)
Income Before Income Tax Expense and Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries
 
2,109

 
5,664

 

 

 
7,773

Income Tax Expense
 
765

 
2,027

 

 

 
2,792

Income Before Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries
 
1,344

 
3,637

 

 

 
4,981

Equity in Earnings of 50% or Less Owned Companies, Net of Tax
 

 
219

 

 

 
219

Equity in Earnings (Losses) of Subsidiaries
 
3,856

 

 

 
(3,856
)
 

Net Income Attributable to Era Group Inc.
 
5,200

 
3,856

 

 
(3,856
)
 
5,200

Accretion of Redemption Value on Series A Preferred Stock
 
2,099

 

 

 

 
2,099

Net Income Attributable to Common Shares
 
$
3,101

 
$
3,856

 
$

 
$
(3,856
)
 
$
3,101


Supplemental Condensed Consolidating Statement of Operations for the Nine Months Ended September 30, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Operating Revenues
 
$

 
$
202,026

 
$

 
$

 
$
202,026

Costs and Expenses:
 
 
 
 
 
 
 
 
 
 
Operating
 

 
124,913

 

 

 
124,913

Administrative and general
 
3,305

 
23,904

 
1

 

 
27,210

Depreciation
 

 
31,031

 

 

 
31,031

 
 
3,305

 
179,848

 
1

 

 
183,154

Gains on Asset Dispositions, Net
 

 
3,455

 

 

 
3,455

Operating Income (Loss)
 
(3,305
)
 
25,633

 
(1
)
 

 
22,327

Other Income (Expense):
 
 
 
 
 
 
 
 
 
 
Interest income
 
60

 
705

 

 

 
765

Interest expense
 
(6,041
)
 
(850
)
 

 

 
(6,891
)
Intercompany interest
 
12,774

 
(12,774
)
 

 

 

SEACOR management fees
 
(1,000
)
 
(500
)
 

 

 
(1,500
)
Derivative losses, net
 

 
(492
)
 

 

 
(492
)
Foreign currency gains, net
 

 
633

 

 

 
633

Other, net
 

 
30

 

 

 
30

 
 
5,793

 
(13,248
)
 

 

 
(7,455
)
Income Before Income Tax Expense and Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries
 
2,488

 
12,385

 
(1
)
 

 
14,872

Income Tax Expense
 
1,100

 
4,112

 

 

 
5,212

Income Before Equity in Earnings (Losses) of 50% or Less Owned Companies and Subsidiaries
 
1,388

 
8,273

 
(1
)
 

 
9,660

Equity in Losses of 50% or Less Owned Companies, Net of Tax
 

 
(5,444
)
 

 

 
(5,444
)
Equity in Earnings (Losses) of Subsidiaries
 
2,828

 

 

 
(2,828
)
 

Net Income (Loss) Attributable to Era Group Inc.
 
4,216

 
2,829

 
(1
)
 
(2,828
)
 
4,216

Accretion of Redemption Value on Series A Preferred Stock
 
6,334

 

 

 

 
6,334

Net Income (Loss) Attributable to Common Shares
 
$
(2,118
)
 
$
2,829

 
$
(1
)
 
$
(2,828
)
 
$
(2,118
)
Supplemental Statement of Comprehensive Income (Loss)
Supplemental Statement of Comprehensive Income (Loss) for the Three Months Ended September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Income (Loss)
 
$
5,088

 
$
3,745

 
$
(231
)
 
$
(3,514
)
 
$
5,088

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
234

 
234

 

 
(234
)
 
234

Income tax expense
 
(82
)
 
(82
)
 

 
82

 
(82
)
 
 
152

 
152

 

 
(152
)
 
152

Comprehensive Income (Loss)
 
5,240

 
3,897

 
(231
)
 
(3,666
)
 
5,240

Comprehensive Loss Attributable to Noncontrolling Interest in Subsidiary
 
116

 
116

 

 
(116
)
 
116

Comprehensive Income (Loss) Attributable to Era Group Inc.
 
$
5,356

 
$
4,013

 
$
(231
)
 
$
(3,782
)
 
$
5,356


Supplemental Statement of Comprehensive Income (Loss) for the Nine Months Ended September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Income (Loss)
 
$
16,627

 
$
11,376

 
$
(652
)
 
$
(10,724
)
 
$
16,627

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
135

 
135

 

 
(135
)
 
135

Income tax expense
 
(47
)
 
(47
)
 

 
47

 
(47
)
 
 
88

 
88

 

 
(88
)
 
88

Comprehensive Income (Loss)
 
16,715

 
11,464

 
(652
)
 
(10,812
)
 
16,715

Comprehensive Loss Attributable to Noncontrolling Interest in Subsidiary
 
326

 
326

 

 
(326
)
 
326

Comprehensive Income (Loss) Attributable to Era Group Inc.
 
$
17,041

 
$
11,790

 
$
(652
)
 
$
(11,138
)
 
$
17,041


Supplemental Statement of Comprehensive Income for the Three Months Ended September 30, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Income
 
$
5,200

 
$
3,856

 
$

 
$
(3,856
)
 
$
5,200

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
112

 
112

 

 
(112
)
 
112

Income tax expense
 
(39
)
 
(39
)
 

 
39

 
(39
)
 
 
73

 
73

 

 
(73
)
 
73

Comprehensive Income Attributable to Era Group Inc.
 
$
5,273

 
$
3,929

 
$

 
$
(3,929
)
 
$
5,273




Supplemental Statement of Comprehensive Income (Loss) for the Nine Months Ended September 30, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Income (Loss)
 
$
4,216

 
$
2,829

 
$
(1
)
 
$
(2,828
)
 
$
4,216

Other Comprehensive Income:
 
 
 
 
 
 
 
 
 

Foreign currency translation adjustments
 
798

 
798

 

 
(798
)
 
798

Income tax expense
 
(279
)
 
(279
)
 

 
279

 
(279
)
 
 
519

 
519

 

 
(519
)
 
519

Comprehensive Income (Loss) Attributable to Era Group Inc.
 
$
4,735

 
$
3,348

 
$
(1
)
 
$
(3,347
)
 
$
4,735

Supplemental Condensed Consolidating Statement of Cash Flows
Supplemental Condensed Consolidating Statement of Cash Flows for the Nine Months Ended September 30, 2013
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Cash Provided by Operating Activities
 
$
44,264

 
$
3,659

 
$
476

 
$

 
$
48,399

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 

 
(48,223
)
 

 

 
(48,223
)
Proceeds from disposition of property and equipment
 

 
59,976

 

 

 
59,976

Principal payments on notes due from equity investees
 

 
856

 

 

 
856

Principal payments on third party notes receivable, net
 

 
592

 

 

 
592

Net increase in escrow deposits
 

 
(9,900
)
 

 

 
(9,900
)
Net cash provided by investing activities
 

 
3,301

 

 

 
3,301

Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 

Proceeds from issuance of long-term debt
 
15,000

 

 

 

 
15,000

Payments on long-term debt
 
(50,000
)
 
(2,091
)
 

 

 
(52,091
)
Dividends paid on Series A preferred stock
 
(4,953
)
 

 

 

 
(4,953
)
Proceeds and tax benefits from share award plans
 
527

 

 

 

 
527

Settlement of SEACOR options with Era Group options
 
706

 

 

 

 
706

Net cash used in financing activities
 
(38,720
)
 
(2,091
)
 

 

 
(40,811
)
Effects of Exchange Rate Changes on Cash and Cash Equivalents
 
88

 
35

 

 

 
123

Net Increase in Cash and Cash Equivalents
 
5,632

 
4,904

 
476

 

 
11,012

Cash and Cash Equivalents, Beginning of Year
 
2,258

 
8,558

 
689

 

 
11,505

Cash and Cash Equivalents, End of Year
 
$
7,890

 
$
13,462

 
$
1,165

 
$

 
$
22,517


Supplemental Condensed Consolidating Statement of Cash Flows for the Nine Months Ended September 30, 2012
 
 
Parent Company Only
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
 
 
(in thousands)
Net Cash (Used in) Provided by Operating Activities
 
$
(95,404
)
 
$
77,513

 
$
10,800

 
$

 
$
(7,091
)
Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
 

 
(91,155
)
 

 

 
(91,155
)
Proceeds from disposition of property and equipment
 

 
4,887

 

 

 
4,887

Cash settlements on derivative transactions, net
 

 
(307
)
 

 

 
(307
)
Investments in and advances to 50% or less owned companies
 

 
(11,857
)
 

 

 
(11,857
)
Principal payments on notes due from equity investees
 

 
2,725

 

 

 
2,725

Principal payments on third party notes receivable, net
 

 
832

 

 

 
832

Investment in subsidiary with noncontrolling interest
 

 
10,789

 
(10,789
)
 

 

Net cash used in investing activities
 

 
(84,086
)
 
(10,789
)
 

 
(94,875
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 

Proceeds from issuance of long-term debt
 
38,000

 

 

 

 
38,000

Payments on long-term debt
 
(100,000
)
 
(2,090
)
 

 

 
(102,090
)
Dividends paid to parent
 
(4,447
)
 

 

 

 
(4,447
)
Intercompany debt, net
 
100,000

 

 

 

 
100,000

Net cash provided by (used in) financing activities
 
33,553

 
(2,090
)
 

 

 
31,463

Effects of Exchange Rate Changes on Cash and Cash Equivalents
 
593

 
20

 

 

 
613

Net (Decrease) Increase in Cash and Cash Equivalents
 
(61,258
)
 
(8,643
)
 
11

 

 
(69,890
)
Cash and Cash Equivalents, Beginning of Year
 
63,044

 
16,078

 

 

 
79,122

Cash and Cash Equivalents, End of Year
 
$
1,786

 
$
7,435

 
$
11

 
$

 
$
9,232