EX-99.8 10 d92045ex99-8.txt MONTHLY OPERATING REPORT FOR KEVCO DISTRIBUTION LP EXHIBIT 99.8 CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS CASE NUMBER: 401-40789-BJH-11 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS -------- ----- FORT WORTH DIVISION ---------- MONTHLY OPERATING REPORT MONTH ENDING: JULY 31, 2001 ------------- IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS - 1 THROUGH ACCRUAL BASIS - 7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE. RESPONSIBLE PARTY: /s/ Wilford W. Simpson TREASURER --------------------------------------- ------------------------------------ Original Signature of Responsible Party Title WILFORD W. SIMPSON SEPTEMBER 24, 2001 --------------------------------------- ------------------------------------ Printed Name of Responsible Party Date PREPARER: /s/ Dennis S. Faulkner DEBTOR'S ACCOUNTANT --------------------------------------- ------------------------------------ Original Signature of Preparer Title DENNIS S. FAULKNER SEPTEMBER 24, 2001 --------------------------------------- ------------------------------------ Printed Name of Preparer Date CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 1 CASE NUMBER: 401-40789-BJH-11 COMPARATIVE BALANCE SHEET
SCHEDULED MONTH ASSETS AMOUNT JUL-01 MONTH MONTH ------ ------------ ------------ ------------ ------------ 1. Unrestricted Cash (FOOTNOTE) 41,421 0 2. Restricted Cash 3. Total Cash 41,421 0 4. Accounts Receivable-Net (FOOTNOTE) 17,545,859 321,431 5. Inventory (FOOTNOTE) 27,611,039 6. Notes Receivable 7. Prepaid Rent 236,697 8. Other (Attach List) 303,392 9. Total Current Assets 45,738,408 321,431 10. Property, Plant & Equipment 22,049,500 9,739,582 11. Less: Accumulated Depreciation/Depletion (6,151,901) (844,526) 12. Net Property, Plant & Equipment (FOOTNOTE) 15,897,599 8,895,056 13. Due From Insiders 14. Other Assets - Net of Amortization (Attach List) 5,741,869 481,876 15. Other (Attach List) 100,961,429 124,276,836 16. Total Assets 168,339,305 133,975,199 POST PETITION LIABILITIES 17. Accounts Payable 18. Taxes Payable 419,121 19. Notes Payable 20. Professional Fees 21. Secured Debt 22. Other (Attach List) (FOOTNOTE) 1,766,039 23. Total Post Petition Liabilities 2,185,160 PRE PETITION LIABILITIES 24. Secured Debt (FOOTNOTE) 75,885,064 15,071,491 25. Priority Debt (FOOTNOTE) 1,412,879 26. Unsecured Debt 19,966,456 18,466,898 27. Other (Attach List) 243,205,150 244,988,081 28. Total Pre Petition Liabilities 340,469,549 278,526,470 29. Total Liabilities 340,469,549 280,711,630 EQUITY 30. Pre Petition Owners' Equity (172,130,244) 31. Post Petition Cumulative Profit Or (Loss) (33,698,923) 32. Direct Charges To Equity (FOOTNOTE) 59,092,736 33. Total Equity (146,736,431) 34. Total Liabilities and Equity 133,975,199
This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP SUPPLEMENT TO CASE NUMBER: 401-40789-BJH-11 ACCRUAL BASIS - 1 COMPARATIVE BALANCE SHEET
SCHEDULED MONTH ASSETS AMOUNT JUL-01 MONTH MONTH ------ ------------ ------------ ------------ ------------ A. Inventory Vendor Deposit 130,000 B. Leased Facility Deposit 173,392 C. D. E. TOTAL OTHER ASSETS - LINE 8 303,392 0 A. Goodwill: Shepherd Products (FOOTNOTE) 5,223,119 B. Goodwill: DARCO (FOOTNOTE) 518,750 C. Capitalized Lease (FOOTNOTE) 481,876 D. E. TOTAL OTHER ASSETS NET OF AMORTIZATION - LINE 14 5,741,869 481,876 A. Intercompany Receivables (FOOTNOTE) 100,961,429 124,276,836 B. C. D. E. TOTAL OTHER ASSETS - LINE 15 100,961,429 124,276,836 POST PETITION LIABILITIES A. Accrued Liabilities 648,880 B. Long Term Leases 1,107,492 C. Accrued Interest: Bank 9,667 D. E. TOTAL OTHER POST PETITION LIABILITIES - LINE 22 1,766,039 PRE PETITION LIABILITIES A. Interco. Payables (FOOTNOTE) 114,705,150 116,488,081 B. 10 3/8% Senior Sub. Notes 105,000,000 105,000,000 C. Sr. Sub. Exchangeable Notes 23,500,000 23,500,000 D. E. TOTAL OTHER PRE PETITION LIABILITIES - LINE 27 243,205,150 244,988,081
CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 2 CASE NUMBER: 401-40789-BJH-11 INCOME STATEMENT
MONTH QUARTER REVENUES JUL-01 MONTH MONTH TOTAL -------- ------ ----- ----- ------- 1. Gross Revenues (FOOTNOTE) (135) (135) 2. Less: Returns & Discounts 3. Net Revenue (135) (135) COST OF GOODS SOLD 4. Material 5. Direct Labor 6. Direct Overhead 104,436 104,436 7. Total Cost Of Goods Sold 104,436 104,436 8. Gross Profit (104,571) (104,571) OPERATING EXPENSES 9. Officer / Insider Compensation 16,538 16,538 10. Selling & Marketing 1,011 1,011 11. General & Administrative 17,180 17,180 12. Rent & Lease 48,646 48,646 13. Other (Attach List) 394,288 394,288 14. Total Operating Expenses 477,663 477,663 15. Income Before Non-Operating Income & Expense (582,234) (582,234) OTHER INCOME & EXPENSES 16. Non-Operating Income (Att List) 17. Non-Operating Expense (Att List) 4,077,813 4,077,813 18. Interest Expense 19. Depreciation / Depletion 1,268 1,268 20. Amortization 21. Other (Attach List) 22. Net Other Income & Expenses (4,079,081) (4,079,081) REORGANIZATION EXPENSES 23. Professional Fees 24. U.S. Trustee Fees 25. Other (Attach List) 26. Total Reorganization Expenses 27. Income Tax 28. Net Profit (Loss) (4,661,315) (4,661,315)
This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP SUPPLEMENT TO CASE NUMBER: 401-40789-BJH-11 ACCRUAL BASIS - 2 INCOME STATEMENT
MONTH QUARTER OPERATING EXPENSES JUL-01 MONTH MONTH TOTAL ------------------ ------ ----- ----- ------- A. Payroll & Employee Benefits (FOOTNOTE) 338,412 338,412 B. Insurance 5,358 5,358 C. Utilities & Telephone 22,742 22,742 D. Taxes 27,776 27,776 E. TOTAL OTHER OPERATING EXPENSES - LINE 13 394,288 394,288 OTHER INCOME & EXPENSES A. B. C. D. E. TOTAL NON-OPERATING INCOME - LINE 16 A. Loss on sale of Assets (FOOTNOTE) 4,077,813 4,077,813 B. C. D. E. TOTAL NON-OPERATING EXPENSE - LINE 17 4,077,813 4,077,813 A. B. C. D. E. TOTAL OTHER EXPENSE - LINE 21 REORGANIZATION EXPENSES A. B. C. D. E. TOTAL OTHER REORGANIZATION EXPENSES - LINE 25
CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 3 CASE NUMBER: 401-40789-BJH-11
CASH RECEIPTS AND MONTH QUARTER DISBURSEMENTS JUL-01 MONTH MONTH TOTAL ----------------- ------ ----- ----- ------- 1. Cash - Beginning Of Month SEE ATTACHED SUPPLEMENT AND FOOTNOTE RECEIPTS FROM OPERATIONS 2. Cash Sales COLLECTION OF ACCOUNTS RECEIVABLE 3. Pre Petition 4. Post Petition 5. Total Operating Receipts NON-OPERATING RECEIPTS 6. Loans & Advances (Attach List) 7. Sale of Assets 8. Other (Attach List) 9. Total Non-Operating Receipts 10. Total Receipts 11. Total Cash Available OPERATING DISBURSEMENTS 12. Net Payroll 13. Payroll Taxes Paid 14. Sales, Use & Other Taxes Paid 15. Secured / Rental / Leases 16. Utilities 17. Insurance 18. Inventory Purchases 19. Vehicle Expenses 20. Travel 21. Entertainment 22. Repairs & Maintenance 23. Supplies 24. Advertising 25. Other (Attach List) 26. Total Operating Disbursements REORGANIZATION DISBURSEMENTS 27. Professional Fees 28. U.S. Trustee Fees 29. Other (Attach List) 30. Total Reorganization Expenses 31. Total Disbursements 32. Net Cash Flow 33. Cash - End of Month
This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION LP SUPPLEMENT TO ACCRUAL BASIS -3 JULY, 2001 CASE NUMBER: 401-40789-BJH-11 CASH RECEIPTS AND DISBURSEMENTS
DIST LP MFG MGMT HOLDING COMP KEVCO INC TOTAL ------- --- ---- ------- ---- --------- ----- 1 CASH-BEGINNING OF MONTH -- 3,739 5,395,155 4,631 5,668 1,000 5,410,193 RECEIPTS FROM OPERATIONS 2 CASH SALES -- -- -- COLLECTION OF ACCOUNTS RECEIVABLE 3 PRE PETITION -- -- -- 4 POST PETITION 47,759 -- 47,759 5 TOTAL OPERATING RECEIPTS 47,759 -- -- -- -- -- 47,759 NON OPERATING RECEIPTS 6 LOANS & ADVANCES -- -- 7 SALE OF ASSETS 482,442 55,779 68,000 606,221 8 OTHER -- 50,449 95,885 -- -- -- 146,334 INTERCOMPANY TRANSFERS 88,194 121,941 (210,135) -- -- -- SALE EXPENSE REIMBURSEMENT LIFE INSURANCE CASH VALUE RENT PAYROLL TAX ADVANCE RETURNED 43,264 MISC. 43,707 -- INTEREST INCOME 8,914 9 TOTAL NON OPERATING RECEIPTS 570,636 228,169 (46,250) -- -- -- 752,555 10 TOTAL RECEIPTS 618,395 228,169 (46,250) -- -- -- 800,314 11 CASH AVAILABLE 618,395 231,908 5,348,905 4,631 5,668 1,000 6,210,507 OPERATING DISBURSEMENTS 12 NET PAYROLL 342,427 9,430 282,924 634,781 13 PAYROLL TAXES PAID -- 238,878 238,878 14 SALES, USE & OTHER TAXES PAID -- -- 15 SECURED/RENTAL/LEASES 15,069 3,223 40,094 58,386 16 UTILITIES 67,481 3,641 13,097 84,219 17 INSURANCE -- 137,376 137,376 18 INVENTORY PURCHASES -- -- 19 VEHICLE EXPENSE -- -- 20 TRAVEL 4,264 -- 4,264 21 ENTERTAINMENT -- -- 22 REPAIRS & MAINTENANCE 2,954 74 5,492 8,520 23 SUPPLIES 3,873 -- 30,637 34,510 24 ADVERTISING -- 25 OTHER 182,327 61,801 183,730 -- -- -- 427,858 LOAN PAYMENTS 55,779 55,779 FREIGHT 14,204 3,126 17,330 CONTRACT LABOR 846 -- 45,359 46,205 401 K PAYMENTS -- -- PAYROLL TAX ADVANCE ADP -- WAGE GARNISHMENTS 1,761 1,761 MISC. 167,277 2,896 136,610 306,783 26 TOTAL OPERATING DISBURSEMENTS 618,395 78,169 932,228 -- -- -- 1,628,792 REORGANIZATION DISBURSEMENTS 27 PROFESSIONAL FEES -- 157,275 157,275 28 US TRUSTEE FEES -- -- 29 OTHER -- 30 TOTAL REORGANIZATION EXPENSE -- -- 157,275 -- -- -- 157,275 31 TOTAL DISBURSEMENTS 618,395 78,169 1,089,503 -- -- -- 1,786,067 32 NET CASH FLOW -- 150,000 (1,135,753) -- -- -- (985,753) 33 CASH- END OF MONTH -- 153,739 4,259,402 4,631 5,668 1,000 4,424,440
CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 4 CASE NUMBER: 401-40789-BJH-11
SCHEDULED MONTH ACCOUNTS RECEIVABLE AGING AMOUNT JUL-01 MONTH MONTH ------------------------- --------- ------ ----- ----- 1. 0 - 30 2. 31 - 60 3. 61 - 90 321,431 4. 91 + 5. Total Accounts Receivable 17,545,859 321,431 6. (Amount Considered Uncollectible) 7. Accounts Receivable (Net) (FOOTNOTE) 17,545,859 321,431
AGING OF POST PETITION MONTH: JULY-01 TAXES AND PAYABLES ----------------
0 - 30 31 - 60 61 - 90 91 + TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL ------------- ------ ------- ------- ---- ----- 1. Federal 2. State 5,541 5,541 3. Local 4. Other (See Below) 413,580 413,580 5. Total Taxes Payable 419,121 419,121 6. Accounts Payable
MONTH: JULY-01 ---------------- STATUS OF POST PETITION TAXES
BEGINNING TAX AMOUNT WITHHELD FEDERAL LIABILITY* AND/OR ACCRUED (AMOUNT PAID) ENDING TAX LIABILITY ------- ------------- --------------- ------------- -------------------- 1. Withholding ** 75,187 (75,187) 2. FICA - Employee ** 27,031 (27,031) 3. FICA - Employer ** 27,031 (27,031) 4. Unemployment 5. Income 6. Other (Attach List) 7. Total Federal Taxes 129,249 (129,249) STATE AND LOCAL 8. Withholding 13,179 (13,179) 9. Sales (FOOTNOTE) 5,541 5,541 10. Excise 11. Unemployment 188 (188) 12. Real Property (FOOTNOTE) 413,580 413,580 13. Personal Property 14. Other (Attach List) 15. Total State And Local 419,121 13,367 (13,367) 419,121 16. Total Taxes 419,121 142,616 (142,616) 419,121
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. ** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment of deposit. This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 5 CASE NUMBER: 401-40789-BJH-11 The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary. MONTH: JULY-01 ---------------------
BANK RECONCILIATIONS Account # 1 Account # 2 -------------------- ----------- ----------- A. BANK: B. ACCOUNT NUMBER: Other Accounts C. PURPOSE (TYPE): (Attach List) TOTAL 1. Balance Per Bank Statement 2. Add: Total Deposits Not Credited 3. Subtract: Outstanding Checks 4. Other Reconciling Items 5. Month End Balance Per Books 6. Number of Last Check Written
INVESTMENT ACCOUNTS
DATE OF TYPE OF BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PURCHASE PRICE CURRENT VALUE --------------------------- -------- ---------- -------------- ------------- 7. 8. 9. 10. (Attach List) 11. Total Investments CASH 12. Currency On Hand 13. Total Cash - End of Month 0
This form does x does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 6 CASE NUMBER: 401-40789-BJH-11 MONTH: JULY-01 ------------------- PAYMENTS TO INSIDERS AND PROFESSIONALS Of the Total Disbursements shown for the month, list the amount paid to Insiders (as defined in Section 101 (31) (A) - (F) of the U.S. Bankruptcy Code) and to Professionals. Also, for payments to Insiders, identify the type of compensation paid (e.g. salary, bonus, commissions, insurance, housing allowance, travel, car allowance, etc.). Attach additional sheets if necessary. INSIDERS
TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE ---- ------- ------ ---------- 1. Martin, Steve Payroll 16,538 99,229 2. Martin, Steve Exp. Reimb. 1,390 3. 4. 5. (Attach List) 6. Total Payments To Insiders 16,538 100,619
PROFESSIONALS
DATE OF COURT ORDER TOTAL AUTHORIZING AUTHORIZING AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID* ---- ------- -------- ---- ------- --------- 1. 2. 3. 4. 5. (Attach List) 6. Total Payments To Professionals
* Include all fees incurred, both approved and unapproved POST PETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
SCHEDULED AMOUNTS TOTAL MONTHLY PAID UNPAID PAYMENTS DURING POST NAME OF CREDITOR DUE MONTH PETITION ---------------- -------- ------- -------- 1. Bank of America (FOOTNOTE) 15,071,491 2. Leases Payable (FOOTNOTE) Not Available 3. 4. 5. (Attach List) 6. TOTAL 15,071,491
This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP ACCRUAL BASIS - 7 CASE NUMBER: 401-40789-BJH-11 MONTH: JULY-01 ------------------- QUESTIONNAIRE
YES NO --- -- 1. Have any Assets been sold or transferred outside the normal course of business this reporting period? X 2. Have any funds been disbursed from any account other than a debtor in possession account? X 3. Are any Post Petition Receivables (accounts, notes, or loans) due from related parties? X 4. Have any payments been made on Pre Petition Liabilities this reporting period? X 5. Have any Post Petition Loans been received by the debtor from any party? X 6. Are any Post Petition Payroll Taxes past due? X 7. Are any Post Petition State or Federal Income Taxes past due? X 8. Are any Post Petition Real Estate Taxes past due? X 9. Are any other Post Petition Taxes past due? X 10. Are any amounts owed to Post Petition creditors delinquent? X 11. Have any Pre Petition Taxes been paid during the reporting period? X 12. Are any wage payments past due? X
If the answer to any of the above questions is "Yes", provide a detailed explanation of each item. Attach additional sheets if necessary. (SEE FOOTNOTE) INSURANCE
YES NO --- -- 1. Are Worker's Compensation, General Liability and other necessary insurance coverages in effect? X 2. Are all premium payments paid current? X 3. Please itemize policies below.
If the answer to any of the above questions is "No", or if any policies have been canceled or not renewed during this reporting period, provide an explanation below. Attach additional sheets if necessary. INSTALLMENT PAYMENTS
TYPE OF POLICY CARRIER PERIOD COVERED PAYMENT AMOUNT & FREQUENCY -------------- ------- -------------- -------------------------- Property Lexington, Allianz 5/29/00-3/1/02 Semi-Annual $26,485 Group Health Blue Cross/Blue Shield Terminated 8/1/01 N/A Auto Liberty Mutual 9/1/00-3/1/02 Semi-Annual $3,333 General Liability Liberty Mutual 9/1/00-3/1/02 Semi-Annual $64,657
This form x does does not have related footnotes on Footnotes Supplement. --- --- CASE NAME: KEVCO DISTRIBUTION, LP CASE NUMBER: 401-40789-BJH-11 MONTH: JULY 31, 2001 ----------------------- FOOTNOTES SUPPLEMENT ACCRUAL BASIS
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE/EXPLANATION ------ ----------- -------------------- 1 1 Pursuant to the February 12, 2001 Order (1) Authorizing Continued Use of Existing Forms 3 1 and Records; (2) Authorizing Maintenance of Existing Corporate Bank Accounts and Cash Management System; and (3) Extending Time to Comply with 11 U.S.C. Section 345 Investment Guidelines, funds in the Bank of America and Key Bank deposit accounts are swept daily into Kevco's lead account number 1295026976. The Bank of America lead account is administered by, and held in the name of, Kevco Management Co. (co-debtor, Case No. 401-40788-BJH-11). Accordingly, all cash receipts and disbursements flow through Kevco Management's Bank of America DIP account. A schedule allocating receipts and disbursements among Kevco, Inc. and its subsidiaries is included in this report as a Supplement to Accrual Basis -3. Debtor as of the end of May closed all of its bank accounts. 1 4 As of July, the remaining accounts receivable are for commissions earned for the sale of 4 7 consigned inventory. Although collection is uncertain, Debtor will maintain these receivables on the balance sheet until such time as collection can be determined more accurately. 1 5 During July, Debtor adjusted its books and records to more accurately reflect its 1 12 remaining fixed assets and inventory. In addition, certain expense accruals made at the 2 17A beginning of the year were reversed because the liabilities will not be incurred as estimated. The gains and losses from these adjustments were netted and classified as Loss on Sale of Assets. 1 5, 12 Pursuant to Asset Purchase Agreements approved by the Court (see prior Monthly Operating 1 14A,B Reports for details), the Kevco Debtors have sold most of their assets except for certain 1 24 items of real property currently being marketed. 6 1 1 22 The Debtor records on its books accruals for certain liabilities based on historical estimates. While known creditors were listed on the Debtor's Schedules, the estimated amounts were not. Accordingly, for purposes of this report, the accrued liabilities are reflected as post-petition "Accrued Liabilities." 1 15A Intercompany receivables/payables are from/to co-debtors Kevco Management Co. (Case No. 1 27A 401-40788-BJH-11), Kevco Manufacturing, LP (Case No. 401-40784-BJH-11), Kevco Holding, 7 3 Inc. (Case No. 401-40785-BJH-11), DCM Delaware, Inc. (Case No. 401-40787-BJH-11), Kevco GP, Inc. (Case No. 401-40786-BJH-11), Kevco Components, Inc. (Case No. 401-40790-BJH-11), and Kevco, Inc. (Case No. 401-40783-BJH-11). 1 25 Pursuant to Order dated February 12, 2001 and Supplemental Order dated March 14, 2001, debtors were authorized to pay pre-petition salaries and wages up to a maximum of $4,300 per employee. Debtors were also (a) allowed to pay accrued vacation to terminated employees and (b) permitted to continue allowing employees to use vacation time as scheduled.
ACCRUAL BASIS FORM NUMBER LINE NUMBER FOOTNOTE/EXPLANATION ------ ----------- -------------------- 1 32 The direct charges to equity are due to secured debt reductions pursuant to sales of Kevco Manufacturing, LP's operating divisions, the asset sale of the South Region of Kevco Distribution, as well as direct cash payments of $25 million. The secured debt owed to Bank of America by Kevco, Inc. (Case No. 401-40783-BJH) has been guaranteed by all of its co-debtors (see Footnote 1,27A); therefore, the secured debt is reflected as a liability on all of the Kevco entities. The charge to equity is simply an adjustment to the balance sheet. 2 13A During July, all Debtor's employees were terminated. In accordance with a March 14, 2001 Order Granting Motion to Approve Management and Employee Retention Plan by Kevco, Inc., stay bonuses were paid to participating employees. 4 9 Sales tax owing is an accrual only and not yet due. Some of the property taxes payable may 4 12 be pre-petition. Once they are identified, the monthly operating report will be adjusted. 6 2 The Debtor is the lessee on hundreds of real and personal property leases, the vast majority of which have been rejected. The Debtor does not isolate monthly payments due or paid on account of such leases. Instead, all lease payments are reflected in the Debtor's accounts payable system. To separately identify monthly accruals and payments on leases would require an enormous outlay of the Debtor's accounting personnel and professionals. The Debtor simply does not have available to it the resources that would be required to provide the detail requested. If any party-in-interest desires specific information about any specific lease, the Debtor will provide such information upon request.