PFSweb, Inc. and Subsidiaries
Unaudited Condensed Consolidating Balance Sheets as of March 31, 2012 (In Thousands)
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PFSweb |
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Business &
Retail Connect |
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Eliminations |
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Consolidated |
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| ASSETS |
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| CURRENT ASSETS: |
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| Cash and cash equivalents |
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$ |
14,441 |
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$ |
3,724 |
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$ |
— |
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$ |
18,165 |
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| Restricted cash |
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— |
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212 |
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— |
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212 |
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| Accounts receivable, net |
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28,161 |
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14,099 |
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(271 |
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41,989 |
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| Inventories, net |
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— |
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29,977 |
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— |
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29,977 |
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| Other receivables |
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— |
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10,187 |
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— |
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10,187 |
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| Prepaid expenses and other current assets |
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2,964 |
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1,467 |
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— |
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4,431 |
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| Total current assets |
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45,566 |
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59,666 |
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(271 |
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104,961 |
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| PROPERTY AND EQUIPMENT, net |
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22,550 |
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130 |
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— |
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22,680 |
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| RECEIVABLE/INVESTMENT IN AFFILIATES |
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12,909 |
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— |
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(12,909 |
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— |
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| OTHER ASSETS |
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2,897 |
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146 |
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— |
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3,043 |
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| Total assets |
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83,922 |
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59,942 |
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(13,180 |
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130,684 |
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| LIABILITIES AND SHAREHOLDERS EQUITY |
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| CURRENT LIABILITIES: |
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| Current portion of long-term debt and capital lease obligations |
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$ |
9,596 |
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$ |
6,065 |
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$ |
— |
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$ |
15,661 |
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| Trade accounts payable |
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9,784 |
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33,962 |
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(271 |
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43,475 |
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| Accrued expenses |
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22,206 |
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7,001 |
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— |
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29,207 |
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| Total current liabilities |
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41,586 |
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47,028 |
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(271 |
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88,343 |
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| LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS, less current portion |
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4,353 |
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35 |
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— |
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4,388 |
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| PAYABLE TO AFFILIATES |
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— |
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22,595 |
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(22,595 |
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— |
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| OTHER LIABILITIES |
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10,549 |
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— |
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— |
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10,549 |
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| Total liabilities |
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56,488 |
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69,658 |
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(22,866 |
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103,280 |
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| COMMITMENTS AND CONTINGENCIES |
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| SHAREHOLDERS’ EQUITY: |
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| Common stock |
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13 |
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19 |
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(19 |
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13 |
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| Capital contributions |
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— |
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1,000 |
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(1,000 |
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— |
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| Additional paid-in capital |
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104,985 |
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28,059 |
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(28,059 |
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104,985 |
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| Retained earnings (accumulated deficit) |
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(79,153 |
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(41,045 |
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41,015 |
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(79,183 |
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| Accumulated other comprehensive income |
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1,674 |
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2,251 |
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(2,251 |
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1,674 |
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| Treasury stock |
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(85 |
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— |
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— |
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(85 |
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| Total shareholders’ equity |
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27,434 |
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(9,716 |
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9,686 |
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27,404 |
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| Total liabilities and shareholders’ equity |
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$ |
83,922 |
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$ |
59,942 |
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$ |
(13,180 |
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$ |
130,684 |
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