Condensed Consolidating Financial Information

6 Months Ended

Jun. 30, 2012

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information

NOTE 13: Condensed Consolidating Financial Information

        The Notes are fully and unconditionally guaranteed, jointly and severally, by the Company, and by each of the Company's current and future domestic subsidiaries (other than Holdings, which is the issuer of the Notes). See note 3. The non-guarantor subsidiaries are comprised of all the Company's subsidiaries and branches outside of the United States. Separate condensed consolidating financial statement information for the parent, guarantor subsidiaries and non-guarantor subsidiaries at June 30, 2012 and December 31, 2011 and for the three and six months ended June 30, 2012 and 2011 is as follows (in thousands):

	BALANCE SHEET June 30, 2012 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets	$	(879	)	$	—	$	100,288	$	72,902		$	—		$	172,311
Property and equipment, net		13,705			—		154,634		18,379			—			186,718
Investment in subsidiaries		197,932			377,362		44,118		14,206			(633,618	)		—
Intercompany accounts		(6,126	)		59,804		72,976		(126,654	)		—			—
Other non-current assets		918			13,849		29,331		7,896			(177	)		51,817
Total assets	$	205,550		$	451,015	$	401,347	$	(13,271	)	$	(633,795	)	$	410,846
Liabilities, Mezzanine and Stockholders' Equity (Deficit)
Current liabilities	$	16,238		$	1,795	$	76,641	$	65,928		$	—		$	160,602
Long-term debt and capital lease obligations, net of current portion		—			347,187		448		2,533			—			350,168
Deferred income taxes and other non-current liabilities		35,182			—		32,805		1,138			—			69,125
Derivative liabilities		201			—		—		—			—			201
Total liabilities		51,621			348,982		109,894		69,599			—			580,096
Mezzanine equity		88,194			—		—		—			—			88,194
Stockholders' equity (deficit)		65,735			102,033		291,453		(82,870	)		(633,795	)		(257,444	)
Total liabilities, mezzanine equity and stockholders' equity (deficit)	$	205,550		$	451,015	$	401,347	$	(13,271	)	$	(633,795	)	$	410,846

	BALANCE SHEET December 31, 2011
	Guarantor Parent Company		Issuer Subsidiary		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets	$	971	$	—	$	134,119	$	103,310		$	—		$	238,400
Property and equipment, net		16,666		—		174,564		21,406			—			212,636
Investment in subsidiaries		197,931		377,362		44,118		14,206			(633,617	)		—
Intercompany accounts		23,454		80,834		12,845		(117,133	)		—			—
Other non-current assets		1,079		11,908		42,572		7,754			(177	)		63,136
Total assets	$	240,101	$	470,104	$	408,218	$	29,543		$	(633,794	)	$	514,172
Liabilities, Mezzanine and Stockholders' Equity (Deficit)
Current liabilities	$	48,482	$	1,565	$	78,914	$	86,362		$	—		$	215,323
Long-term debt and capital lease obligations, net of current portion		—		346,615		—		3,568			—			350,183
Deferred Income tax and other non-current liabilities		30,458		—		30,798		1,138			—			62,394
Derivative liabilities		5,778		—		—		—			—			5,778
Total liabilities		84,718		348,180		109,712		91,068			—			633,678
Mezzanine equity		83,313		—		—		—			—			83,313
Stockholders' equity (deficit)		72,070		121,924		298,506		(61,525	)		(633,794	)		(202,819	)
Total liabilities, mezzanine equity and stockholders' equity (deficit)	$	240,101	$	470,104	$	408,218	$	29,543		$	(633,794	)	$	514,172

	STATEMENT OF OPERATIONS Three Months Ended June 30, 2012 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	66,109		$	94,425		$	(25,747	)	$	134,787
Equity in earnings of subsidiaries		(28,216	)		—			829			(10,143	)		37,530			—
Expenses:
Direct operating expenses		(689	)		—			26,072			93,636			(25,604	)		93,415
Depreciation and amortization		(1,223	)		—			31,257			2,105			—			32,139
General and administrative		599			—			8,843			11,092			(142	)		20,392
Total expenses		(1,313	)		—			66,172			106,833			(25,746	)		145,946
Loss from operations		(26,903	)		—			766			(22,551	)		37,529			(11,159	)
Interest income (expense), net		(2,495	)		(9,951	)		(2	)		(388	)		—			(12,836	)
Other income (expenses), net		1,932			—			2,426			(1,627	)		—			2,731
Loss before income taxes		(27,466	)		(9,951	)		3,190			(24,566	)		37,529			(21,264	)
Provision for income taxes		—			—			3,583			2,619			—			6,202
Net loss	$	(27,466	)	$	(9,951	)	$	(393	)	$	(27,185	)	$	37,529		$	(27,466	)

	STATEMENT OF OPERATIONS Six Months Ended June 30, 2012 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	143,249		$	196,447		$	(41,411	)	$	298,285
Equity in earnings of subsidiaries		(48,289	)		—			1,362			(23,976	)		70,903			—
Expenses:
Direct operating expenses		3			—			68,092			193,527			(41,268	)		220,354
Depreciation and amortization		—			—			60,716			4,765			—			65,481
General and administrative		1,284			—			21,007			15,491			(142	)		37,640
Total expenses		1,287			—			149,815			213,783			(41,410	)		323,475
Loss from operations		(49,576	)		—			(5,204	)		(41,312	)		70,902			(25,190	)
Interest income (expense), net		(4,835	)		(19,891	)		(49	)		(800	)		—			(25,575	)
Other income (expenses), net		3,721			—			4,072			(576	)		—			7,217
Loss before income taxes		(50,690	)		(19,891	)		(1,181	)		(42,688	)		70,902			(43,548	)
Provision for income taxes		—			—			3,042			4,100			—			7,142
Net loss	$	(50,690	)	$	(19,891	)	$	(4,223	)	$	(46,788	)	$	70,902		$	(50,690	)

	STATEMENT OF CASH FLOWS Six Months Ended June 30, 2012 (Unaudited)
	Guarantor Parent Company		Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	2,058	$	321		$	28,197		$	(4,068	)	$	—	$	26,508
Net cash provided by (used in) investing activities		—		—			(30,528	)		(409	)		—		(30,937	)
Net cash provided by (used in) financing activities		—		(321	)		(122	)		(3,769	)		—		(4,212	)
Net increase (decrease) in cash	$	2,058	$	—		$	(2,453	)	$	(8,246	)	$	—	$	(8,641	)

	STATEMENT OF OPERATIONS Three Months Ended June 30, 2011 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	88,715		$	88,123		$	(31,290	)	$	145,548
Equity in earnings of subsidiaries		(55,312	)		—			(35,903	)		(14,412	)		105,627			—
Expenses:
Direct operating expenses		7,438			—			36,093			108,655			(31,290	)		120,896
Depreciation and amortization		1,690			—			32,801			2,301			—			36,792
General and administrative		(22,017	)		—			13,032			24,795			—			15,810
Total (income) expenses		(12,889	)		—			81,926			135,751			(31,290	)		173,498
Loss from operations		(42,423	)		—			(29,114	)		(62,040	)		105,627			(27,950	)
Interest income (expense), net		(2,483	)		(10,597	)		160			(21	)		—			(12,941	)
Other income (expenses), net		4,414			(1,121	)		(1,663	)		2,019			—			3,649
Loss before income taxes		(40,492	)		(11,718	)		(30,617	)		(60,042	)		105,627			(37,242	)
Provision for income taxes		—			—			222			1,972			—			2,194
Net loss	$	(40,492	)	$	(11,718	)	$	(30,839	)	$	(62,014	)	$	105,627		$	(39,436	)

	STATEMENT OF OPERATIONS Six Months Ended June 30, 2011 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues	$	—		$	—		$	158,939		$	219,211		$	(44,965	)	$	333,185
Equity in earnings of subsidiaries		(68,033	)		—			(45,522	)		(16,042	)		129,597			—
Expenses:
Direct operating expenses		13,840			—			61,946			240,366			(44,965	)		271,187
Depreciation and amortization		3,359			—			69,660			4,310			—			77,329
General and administrative		(12,277	)		—			14,323			32,057			—			34,103
Total expenses		4,922			—			145,929			276,733			(44,965	)		382,619
Loss from operations		(72,955	)		—			(32,512	)		(73,564	)		129,597			(49,434	)
Interest income (expense), net		(4,778	)		(19,587	)		345			(70	)		—			(24,090	)
Other income (expenses), net		8,469			(1,121	)		(2,429	)		3,226			—			8,145
Loss before income taxes		(69,264	)		(20,708	)		(34,596	)		(70,408	)		129,597			(65,379	)
Provision for income taxes		—			—			418			2,410			—			2,828
Net loss	$	(69,264	)	$	(20,708	)	$	(35,014	)	$	(72,818	)	$	129,597		$	(68,207	)

	STATEMENT OF CASH FLOWS Six Months Ended June 30, 2011 (Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(32,710	)	$	(76,163	)	$	83,631		$	(8,655	)	$	78,566	$	44,669
Net cash used in investing activities		—			—			(40,256	)		(9,274	)		—		(49,530	)
Net cash provided by (used in) financing activities		—			24,725			—			(936	)		—		23,789
Net increase (decrease) in cash	$	(32,710	)	$	(51,438	)	$	43,375		$	(18,865	)	$	78,566	$	18,928