|
|
|
|
|
|
|
|
|
|
Previous: AMERISERVE FOOD DISTRIBUTION INC /DE/, 8-K, EX-99.22, 2000-10-27 |
Next: AMERISERVE FOOD DISTRIBUTION INC /DE/, 8-K, EX-99.24, 2000-10-27 |
NEBCO EVANS HOLDING COMPANY EXHIBIT D TO DISCLOSURE STATEMENT
Consolidated Balance Sheet PRELIMINARY AND UNAUDITED
(IN THOUSANDS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
DECEMBER 25, DECEMBER 26,
1999 1998
----------- -----------
(UNAUDITED)
<S> <C> <C>
Current assets:
Cash and cash equivalents $ 2,960 $ 37,646
Accounts receivable 54,747 55,402
Undivided interest in accounts receivable trust 156,760 208,451
Allowance for doubtful accounts (41,097) (23,852)
Inventories 283,204 292,255
Other current assets 25,497 14,196
----------- -----------
Total current assets 482,071 584,098
Property and equipment - net 286,975 235,426
Intangible assets, net 53,375 1,087,079
Other noncurrent assets 27,992 29,209
----------- -----------
$ 850,413 $ 1,935,812
=========== ===========
Current liabilities:
Current portion of long-term debt $ 31,017 $ 8,768
Accounts payable 667,702 700,105
Accrued and other current liabilities 169,163 183,764
----------- -----------
Total current liabilities 867,882 892,637
Long-term debt 1,364,253 979,416
Other noncurrent liabilities 78,885 85,006
11 1/4% Senior redeemable exchangeable preferred stock, $.01 par value per 294,937 262,107
share; 8,000,000 shares authorized, 3,031,038 shares outstanding
Stockholders' deficit
8% Senior convertible preferred stock, $.01 par value per share; 300
shares authorized, 235 shares outstanding, $2,350,000 liquidation value 2,350 2,350
20% Junior preferred stock, $.01 par value per share; 100,000 shares
authorized, 10,000 shares outstanding, $10,000,000 liquidation value 6,031 --
Preferred stock, $.01 par value per share; 21,900,000 shares authorized,
none outstanding -- --
Class A nonvoting common stock, $.01 par value per share; 1,000,000
shares authorized, none outstanding -- --
Class B voting common stock, $.01 par value per share; 14,000,000
shares authorized, 10,008,241 and 8,241,000 outstanding at
December 25, 1999 and December 26, 1998, respectively 100 82
Class C nonvoting common stock, $.01 par value per share; 5,000,000
shares authorized, none outstanding -- --
Paid-in capital -- --
Accumulated deficit (1,764,025) (285,786)
----------- -----------
Total stockholders' deficit (1,755,544) (283,354)
----------- -----------
$ 850,413 $ 1,935,812
=========== ===========
</TABLE>
Note: The entities included in the consolidated financial statements of Nebco
Evans Holding Company are the same as those included in the
consolidated financial statements of "AmeriServe Food Distribution,
Inc., et al" -see Exhibit E to the Disclosure Statement.
<PAGE>
NEBCO EVANS HOLDING COMPANY EXHIBIT D TO DISCLOSURE STATEMENT
CONSOLIDATED STATEMENT OF OPERATIONS PRELIMINARY AND UNAUDITED
(IN THOUSANDS)
<TABLE>
<CAPTION>
FOR THE FISCAL YEAR ENDED
-----------------------------
DECEMBER 25, DECEMBER 26,
1999 1998
----------- -----------
(UNAUDITED)
<S> <C> <C>
Net sales $ 8,906,205 $ 7,420,951
Cost of goods sold 8,185,755 6,740,926
----------- -----------
Gross Profit 720,450 680,025
Distribution, selling and administrative 711,430 560,696
Depreciation of property and equipment 54,914 31,500
Amortization of intangible assets 55,837 34,074
Impairment of long-lived assets 1,038,594 --
Restructuring and other unusual costs 159,043 90,087
----------- -----------
Operating loss (1,299,368) (36,332)
----------- -----------
Other income(expense):
Interest expense, net (113,975) (90,824)
Loss on sale of accounts receivable (30,047) (24,906)
Interest income - affiliates 1,164 1,335
----------- -----------
(142,858) (114,395)
Loss before income taxes (1,442,226) (150,727)
Provision for income taxes 1,946 1,563
----------- -----------
Net loss $(1,444,172) $ (152,290)
=========== ===========
</TABLE>
Note: The entities included in the consolidated financial statements of Nebco
Evans Holding Company are the same as those included in the
consolidated financial statements of "AmeriServe Food Distribution,
Inc., et al" -see Exhibit E to the Disclosure Statement.
<PAGE>
NEBCO EVANS HOLDING COMPANY EXHIBIT D TO DISCLOSURE STATEMENT
CONSOLIDATED STATEMENTS OF CASH FLOWS PRELIMINARY AND UNAUDITED
(In thousands)
<TABLE>
<CAPTION>
FOR THE FISCAL YEAR ENDED
--------------------------
DECEMBER 25, DECEMBER 26,
1999 1998
----------- -----------
(UNAUDITED)
<S> <C> <C>
Operating activities:
Net loss $(1,444,172) $ (152,290)
Adjustments to reconcile net loss to net cash provided by (used for)
operating activities:
Depreciation & amortization 110,751 65,574
Interest accreted on subordinated debt 8,372 7,425
Impairment of property, equipment and other assets 1,033,268 17,880
Change in assets and liabilitities, net of effect of business acquired:
Accounts receivable and undivided interest in accounts receivable trust 29,744 (55,678)
Inventories 9,041 8,908
Prepaid expenses and other current assets (12,218) 13,382
Accounts payable (35,116) 47,176
Accrued liabilities 18,176 7,909
Payments charged to restructuring reserves (25,390) (14,944)
Noncurrent liabilities (46,198) (25,252)
Other 13,559 (27,347)
----------- -----------
Net Cash flows used by operating activities (340,183) (107,257)
Investing activities:
Business acquired, net of cash acquired -- (313,501)
Capital expenditures (69,804) (68,534)
Proceeds from disposal of property and equipment 45,112 1,763
Amount received from parent and affiliates 60,139 13,693
Amount paid to parent and affiliates (60,305) (19,476)
----------- -----------
Net Cash flows used in investing activities (24,858) (386,055)
FINANCING ACTIVITIES:
Proceeds from issuance of common stock 5,000 --
Proceeds from issuance of long-term debt 227,034 --
Proceeds from sale of accounts receivable 40,000 220,000
Proceeds from issuance of senior redeemable exchangeable preferred stock -- 250,000
Net repurchase of senior redeemable exchangeable preferred stock (10,000) --
Proceeds from issuance of junior preferred stock 10,000 --
Redemption of preferred stock -- (153,571)
Dividends on preferred stock (188) (188)
Debt financing fees incurred (25,526) (10,000)
Net increase in borrowings under revolving line of credit 105,100 4,000
Repayments of capital leases and long-term debt (21,065) (10,733)
----------- -----------
Net Cash flows provided by financing activities 330,355 299,508
----------- -----------
Net (Decrease) Increase in cash and cash equivalents (34,686) (193,804)
Cash and cash equivalents at beginning of year 37,646 231,450
----------- -----------
Cash and cash equivalents at end of year $ 2,960 $ 37,646
=========== ===========
</TABLE>
Note: The entities included in the consolidated financial statements of Nebco
Evans Holding Company are the same as those included in the
consolidated financial statements of "AmeriServe Food Distribution,
Inc., et al" - see Exhibit E to the Disclosure Statement.
|
|