Condensed Consolidating Financial Information

3 Months Ended

Mar. 31, 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 consist of all subsidiaries and branches outside of the United States.  Separate condensed consolidating financial statement information for the parent, guarantor subsidiaries and non-guarantor subsidiaries at March 31, 2012 and December 31, 2011 and for the three months ended March 31, 2012 and 2011 is as follows (in thousands):

	BALANCE SHEET
	March 31, 2012(Unaudited)
	Guarantor Parent Company			IssuerSubsidiary		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Assets
Current assets	$	3,351		$	—	$	116,776	$	95,025		$	—		$	215,152
Property and equipment, net	14,927			—		167,820		20,278			—			203,025
Investment in subsidiaries	197,931			377,362		44,118		14,207			(633,618		)	—
Intercompany accounts	(6,948		)	68,925		52,485		(114,462		)	—			—
Other non-current assets	970			21,292		29,789		7,954			(177		)	59,828
Total assets	$	210,231		$	467,579	$	410,988	$	23,002		$	(633,795	)	$	478,005
Liabilities, Mezzanine and Stockholders’ Equity
Current liabilities	$	19,459		$	8,694	$	87,221	$	85,272		$	—		$	200,646
Long-term debt and capital lease obligations, net of current portion	—			346,901		522		3,542			—			350,965
Deferred income taxes and other non-current liabilities	32,758			—		30,819		1,138			—			64,715
Derivative liabilities	3,919			—		—		—			—			3,919
Total liabilities	56,136			355,595		118,562		89,952			—			620,245
Mezzanine equity	85,715			—		—		—			—			85,715
Stockholders’ equity (deficit)	68,380			111,984		292,426		(66,950		)	(633,795		)	(227,955		)
Total liabilities, mezzanine equity and stockholders’ equity (deficit)	$	210,231		$	467,579	$	410,988	$	23,002		$	(633,795	)	$	478,005

	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 March 31, 2012(Unaudited)
	Guarantor ParentCompany			IssuerSubsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Total revenue	$	—		$	—		$	77,141		$	102,021		$	(15,664	)	$	163,498
Equity in earnings of subsidiaries	(20,073		)	—			1,496			(14,798		)	33,375			—
Expenses:
Direct operating	691			—			42,021			99,891			(15,664		)	126,939
Depreciation and amortization	1,223			—			29,459			2,660			—			33,342
General and administrative	686			—			12,163			4,399			—			17,248
Total expenses	2,600			—			83,643			106,950			(15,664		)	177,529
Loss from operations	(22,673		)	—			(5,006		)	(19,727		)	33,375			(14,031		)
Interest income (expense), net	(2,340		)	(9,941		)	(46		)	(412		)	—			(12,739		)
Other income (expenses), net	1,789			—			1,645			1,052			—			4,486
Loss before income taxes	(23,224		)	(9,941		)	(3,407		)	(19,087		)	33,375			(22,284		)
Provision for income taxes	—			—			423			517			—			940
Net loss	$	(23,224	)	$	(9,941	)	$	(3,830	)	$	(19,604	)	$	33,375		$	(23,224	)

	STATEMENT OF CASH FLOWSThree Months Ended March 31, 2012(Unaudited)
	Guarantor Parent Company		Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	6,281	$	300		$	11,989		$	3,114		$	—	$	21,684
Net cash provided by (used in) investing activities	—		—			(17,058		)	(383		)	—		(17,441		)
Net cash provided by (used in) financing activities	—		(300		)	—			(906		)	—		(1,206		)
Net increase (decrease) in cash	$	6,281	$	—		$	(5,069	)	$	1,825		$	—	$	3,037

	STATEMENT OF OPERATIONS Three Months Ended March 31, 2011(Unaudited)
	Guarantor ParentCompany			IssuerSubsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Total revenue	$	—		$	—		$	70,224		$	131,088		$	(13,675	)	$	187,637
Equity in earnings of subsidiaries	(12,726		)	—			(9,618		)	(1,629		)	23,973			—
Expenses:
Direct operating	6,402			—			25,853			131,711			(13,675		)	150,291
Depreciation and amortization	1,669			—			36,859			2,009			—			40,537
General and administrative	9,737			—			1,293			7,263			—			18,293
Total expenses	17,808			—			64,005			140,983			(13,675		)	209,121
Loss from operations	(30,534		)	—			(3,399		)	(11,524		)	23,973			(21,484		)
Interest income (expense), net	(2,295		)	(8,991		)	185			(48		)	—			(11,149		)
Other income (expenses), net	4,058			—			(766		)	1,204			—			4,496
Loss before income taxes	(28,771		)	(8,991		)	(3,980		)	(10,368		)	23,973			(28,137		)
Provision for income taxes	—			—			—			634			—			634
Net loss	$	(28,771	)	$	(8,991	)	$	(3,980	)	$	(11,002	)	$	23,973		$	(28,771	)

	STATEMENT OF CASH FLOWSThree Months Ended March 31, 2011(Unaudited)
	Guarantor Parent Company			Issuer Subsidiary			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	(91,583	)	$	(182,321	)	$	179,339		$	85,680		$	35,411	$	26,526
Net cash used in investing activities	—			—			(18,639		)	(9,323		)	—		(27,962		)
Net cash provided by (used in) financing activities	—			9,935			—			(567		)	—		9,368
Net increase (decrease) in cash	$	(91,583	)	$	(172,386	)	$	160,700		$	75,790		$	35,411	$	7,932