EX-99.1 3 ex99-1.htm Exhibit 99.1

In re Farmland Industries, Inc.                                                                                                                                      Case No. 02-50557
 

MONTHLY OPERATING REPORT SUMMARY

FOR THE MONTH OF JUNE, 2003

REVENUE

Gross Income

 $         110,916,222.92 

Less Cost of Goods Sold

 $           99,783,944.28 

Materials

 $        99,525,957.75 

Direct Labor

 -  

Overhead  (Freight and Other)

 $             257,986.53 

Gross Profit

 $        11,132,278.64 

OPERATING EXPENSES

Owner/Officer-Draws/Salaries

$                             -  

Other Employee Salaries

 $          4,184,975.63 

Advertising and Marketing

 $                    123.30 

Insurance

 $             983,554.46 

Payroll Taxes

 $             274,276.09 

Lease and Rent

 $          1,385,278.34 

Telephone and Utlities

 $          3,318,897.27 

Attorney and other Professional Fees

 $          2,915,579.12 

UST Quarterly Fees

 $                             -  

Other Expenses (includes other income)

 $      (13,405,050.36)

Total Operating Expenses

 $            (342,366.15)

Net Income (Loss)

 $        11,474,644.79 

CURRENT ASSETS

Accounts Receivable at end of month  (Does not include Intercompany)

 $         44,904,566.44 

Increase (Decrease) in AR for month

 $         (5,866,774.69)

Inventory at end of month

 $       118,365,430.38 

Increase (Decrease) in Inventory for month

 $           2,056,906.00 

Cash at end of the month

 $           8,679,559.81 

Increase (Decrease) in Cash for month

 $           6,448,581.69 

LIABILITIES

Increase (Decrease) in pre-petition debt

 $         (2,113,735.82)

Increase (Decrease) in post-petition debt

 $         (5,776,885.25)

Taxes Payable:

Federal Payroll Taxes

 $                32,835.05 

State Payroll Taxes

 $              (28,089.01)

Local Payroll Taxes

 $                               -

State Sales Taxes

 $                 5,343.53 

Real Estate and Personal

 $           (644,009.87)

Property Taxes  (Real Property)

 $           (946,375.22)

Other (see footnote 1)

 $        (1,719,136.75)

Total Taxes Payable

 $         (3,299,432.27)

 

Footnote 1

PRE-Fed MTR FUEL TAX-IC & SUBS (248001)

 $               (5,663.77)

PRE-ST MTR FUEL TAX PAY (248101)

 $           (176,405.24)

PRE-FED ENVIRON TAX PAY (249001)

 $                            -  

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $               (2,912.70)

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $                    (16.60)

USE TAX PAYABLE-MANUAL ENTRIES

 $                  (228.37)

FED HWY USE TAX PAY

 $                            -  

FED MTR FUEL TAX-EST LIAB

 $        (1,539,830.08)

ST MTR FUEL TAX PAY

 $                 3,570.28 

PRE-USE TAX PAY-MANUAL (245002&12)

 $                 2,349.73 

 $        (1,719,136.75)