IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
EXHIBIT E TO DISCLOSURE STATEMENT
AMERISERVE FOOD DISTRIBUTION, INC., ET AL (1) CASE NO. 00-0358 (PJW)
DEBTORS CHAPTER 11
JOINTLY ADMINISTERED
--------------------------------------------------------------------------------
Consolidated Balance Sheet (In Thousands)
August 5, 2000
CASE #: 00-0358 (PJW)
Period
---------
Current assets
Cash and cash equivalents $ 34,143
Accounts receivable 230,606
Direct payment receivables 38,734 (a)
Undivided interest in accounts receivable trust --
Allowance for doubtful accounts (45,696)
Inventories, net 42,821
Other current assets (2) 29,402
---------
Total current assets 330,010
Property and equipment, net 250,297 (b)
Intangible assets, net 44,436
Intercompany receivable (3) 34,080
Other noncurrent assets 40,358
---------
$ 699,181
=========
Current liabilities
Current portion of capital lease obligations $ 24,919
Accounts payable 17,865
Accrued and other current liabilities 83,461
Debtor-In-Possession financing 85,370
---------
Total current liabilities 211,615
Long-term secured debt and capital lease obligations 456,499
Other noncurrent liabilities 75,656
Liabilities subject to compromise 1,625,161 (c)
Senior redeemable exchangeable preferred stock 295,021
Stockholder's equity (deficit)
Preferred stock 8,422
Common stock 100
Paid in capital --
Accumulated deficit (1,973,293)
---------
Total stockholder's equity (deficit) (1,964,771)
---------
$ 699,181
=========
(a) Consists primarily of purchases of beginning inventory, merchandise
purchases since date of bankruptcy, and distribution fee revenues,
net of payments received.
(b) Includes approximately $52,500 of capitalized software and
development costs related to the JDEdwards system.
(c) Includes trade accounts payable and accrued expenses, as well as all
unsecured notes payable. Amounts included in "Liabilities subject to
compromise" have been preliminarily estimated and/or assumed and are
subject to change.
(1) - The Debtors are the following entities: AmeriServe Food Distribution,
Inc., NEBCO EVANS Holding Company, Holberg Warehouse Properties, Inc.,
AmeriServe Transportation, Inc., PSD Transportation Services, Inc.,
Chicago Consolidated Corporation, ASNSC, Inc., Delta Transportation, Ltd.,
PSC Services of Florida, Inc., Northland Transportation Services, Inc.,
ProSource Mexico Holdings, Inc., NAVC Corp., North American Vantix Corp.,
and Vantix Logistics, Ltd. The same entities are included in the
consolidated financial statements of Nebco Evans Holding Company-see
Exhibit D to the Disclosure Statement.
(2) - This line includes certain receivables that might be treated differently
if the Report were prepared in accordance with GAAP.
(3) - Monthly Operating Report not prepared in accordance with GAAP. If the
Report were prepared in accordance with GAAP,
the treatment of intercompany receivables might be different.
<PAGE>
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
EXHIBIT E TO DISCLOSURE STATEMENT
AMERISERVE FOOD DISTRIBUTION, INC., ET AL (1) CASE NO. 00-0358 (PJW)
DEBTORS CHAPTER 11
JOINTLY ADMINISTERED
--------------------------------------------------------------------------------
Consolidated Income Statement (In Thousands)
For the Period and Post-Petition Period to Date August 5, 2000
CASE #: 00-0358 (PJW)
<TABLE>
<CAPTION>
Post-Petition
Period Period to Date
------ --------------
<S> <C> <C>
Distribution fee revenues $ 195,213 $ 195,213
Net sales of product 436,235 436,235
--------- -------
Total revenues 631,448 631,448
Cost of goods sold 419,397 419,397
Distribution, selling and administrative 269,970 269,970
Depreciation of property and equipment 32,006 32,006
Amortization of intangible assets 3,132 3,132
--------- -------
Operating loss (93,057) (93,057)
--------- -------
Other income (expense):
Interest expense, net (37,519) (37,519)(a)
Interest income (expense) - affiliates 999 999
--------- -------
(36,520) (36,520)
--------- -------
Loss before reorganization items and income taxes (129,577) (129,577)
Reorganization items (17,552) (17,552)(b)
--------- -------
Loss before income taxes (147,129) (147,129)
Provision for income taxes (benefit) 485 485
--------- -------
Net Income (loss) $(147,614) $(147,614)
========= =========
</TABLE>
(a) Excludes any interest on liabilities subject to compromise.
(b) Primarily represents professional fees incurred relating to
bankruptcy support services.
(1) - The Debtors are the following entities: AmeriServe Food
Distribution, Inc., NEBCO EVANS Holding Company, Holberg
Warehouse Properties, Inc., AmeriServe Transportation, Inc.,
PSD Transportation Services, Inc., Chicago Consolidated
Corporation, ASNSC, Inc., Delta Transportation, Ltd., PSC
Services of Florida, Inc., Northland Transportation Services,
Inc., ProSource Mexico Holdings, Inc., NAVC Corp., North
American Vantix Corp., and Vantix Logistics, Ltd. The same
entities are included in the consolidated financial statements
of Nebco Evans Holding Company-see Exhibit D to the Disclosure
Statement.
<PAGE>
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE
EXHIBIT E TO DISCLOSURE STATEMENT
AMERISERVE FOOD DISTRIBUTION, INC., ET AL (1) CASE NO. 00-0358 (PJW)
DEBTORS CHAPTER 11
JOINTLY ADMINISTERED
--------------------------------------------------------------------------------
Consolidated Statement of Cash Flow (In Thousands)
For the Period and Post-Petition Period to Date August 5, 2000
CASE #: 00-0358 (PJW)
<TABLE>
<CAPTION>
POST-PETITION
PERIOD PERIOD TO DATE
------ --------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $(147,614) $(147,614)
Adjustments to reconcile net income(loss) to net cash
Depreciation 32,006 32,006
Amortization 3,132 3,132
Changes in operating assets and liabilities:
Accounts receivable (191,687) (191,687)
Direct payment receivables (38,734) (38,734)
Undivided interest in accounts receivable trust 156,341 156,341
Inventories 199,694 199,694
Prepaid expenses and other (4,947) (4,947)
Accounts payable (37,341) (37,341)
Accrued liabilities 14,412 14,412
Long-term liabilities 986 986
Other, net (21,755) (21,755)
--------- ---------
76,969 76,969
--------- ---------
Net Cash flows provided (used) by operations (35,507) (35,507)
CASH FLOWS FROM INVESTING ACTIVITIES
Net activity relating to PPE 5,365 5,365
Net increase in amount due from affiliate (988) (988)
--------- ---------
Net Cash flows provided (used) by investing activities 4,377 4,377
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings/(repayments) - debtor-in-possession financing 85,370 85,370
Borrowings under revolving line of credit 21,084 21,084
Repayments of pre-petition revolving line of credit (42,525) (42,525)
Repayment of capital leases, net (16,662) (16,662)
--------- ---------
Net Cash flows used in financing activities 47,267 47,267
Net increase (decrease) in cash 16,137 16,137
Cash and cash equivalents at beginning of period -- 18,006
--------- ---------
Cash and cash equivalents at end of period $ 16,137 $ 34,143
========= =========
</TABLE>
(1) - The Debtors are the following entities: AmeriServe Food
Distribution, Inc., NEBCO EVANS Holding Company, Holberg Warehouse
Properties, Inc., AmeriServe Transportation, Inc., PSD
Transportation Services, Inc., Chicago Consolidated Corporation,
ASNSC, Inc., Delta Transportation, Ltd., PSC Services of Florida,
Inc., Northland Transportation Services, Inc., ProSource Mexico
Holdings, Inc., NAVC Corp., North American Vantix Corp., and Vantix
Logistics, Ltd. The same entities are included in the consolidated
financial statements of Nebco Evans Holding Company-see Exhibit D to
the Disclosure Statement.
