-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WbHYDCzNPmhhodqA3UIbzcCPw9McIL7Sr0rp581iowgOj/F8YoayUfDvEZUyG2ND gUgbCG+gdFC66K2y3g5qZw== 0000950134-04-007599.txt : 20040514 0000950134-04-007599.hdr.sgml : 20040514 20040514140830 ACCESSION NUMBER: 0000950134-04-007599 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040514 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLEMING COMPANIES INC /OK/ CENTRAL INDEX KEY: 0000352949 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 480222760 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08140 FILM NUMBER: 04806375 BUSINESS ADDRESS: STREET 1: 1945 LAKEPOINTE DRIVE CITY: LEWISVILLE STATE: TX ZIP: 73126 BUSINESS PHONE: 4058407200 MAIL ADDRESS: STREET 1: 1945 LAKEPOINT DRIVE CITY: LEWISVILLE STATE: TX ZIP: 75057 8-K 1 d15549e8vk.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): May 14, 2004 FLEMING COMPANIES, INC. -------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Oklahoma 1-8140 48-0222760 - ---------------------------- ------------ ------------------- (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 1945 Lakepointe Drive, Lewisville, Texas 75057 - ---------------------------------------- ---------- (Address of Principal Executive Offices) (Zip code) Registrant's telephone number, including area code: (972) 906-8000 -------------- ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE. On May 14, 2004, Fleming Companies, Inc. (the "Company") filed its unaudited monthly operating report for the period March 1, 2004 through March 31, 2004 with the United States Bankruptcy Court for the District of Delaware, a copy of which is attached hereto as Exhibit 99.1, in connection with its voluntary petitions for reorganization under Chapter 11 of Title 11 of the United States Code (Case No. 03-10945) (Jointly Administered). ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (a) Financial statements of businesses acquired. Not applicable (b) Pro forma financial information. Not applicable (c) Exhibits. 99.1 Monthly Operating Report of Fleming Companies, Inc. for the period March 1, 2004 through March 31, 2004. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FLEMING COMPANIES, INC. Date: May 14, 2004 By: /s/ Rebecca A. Roof ----------------------------- Rebecca A. Roof Interim Chief Financial Officer 3 EXHIBIT INDEX Exhibit Number Description - -------------- ----------- 99.1 Monthly Operating Report of Fleming Companies, Inc. for the period March 1, 2004 through March 31, 2004. EX-99.1 2 d15549exv99w1.txt MONTHLY OPERATING REPORT EXHIBIT 99.1 UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE IN RE FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 3/01/04 - 3/31/04 MONTHLY OPERATING REPORT File with Court and submit copy to United States Trustee within 45 days after end of the period Submit copy of report to any official committee appointed in the case.
DOCUMENT EXPLANATION REQUIRED DOCUMENTS FORM NO. ATTACHED ATTACHED - ------------------ -------- -------- ----------- Schedule of Cash Receipts and Disbursements MOR - 1 Weekly Receipts & Disbursements A X Cash Disbursements by Petitioning Entity B X Bank Account Information C X Statement of Operations MOR - 2 X Balance Sheet MOR - 3 X Status of Postpetition Taxes MOR - 4 X Copies of IRS Form 6123 or payment receipt (See Tax Affidavit) X Copies of tax returns filed during reporting period (See Tax Affidavit) X Summary of Unpaid Postpetition Debts MOR - 4 X Summary Accounts Receivable Aging MOR - 5 X Debtor Questionnaire MOR - 5 X
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. RESPONSIBLE PARTY: /s/ Rebecca A. Roof Interim Chief Financial Officer - ---------------------------------- ---------------------------------- Signature of Responsible Party Title Rebecca A. Roof 5/13/2004 - ---------------------------------- ---------------------------------- Printed Name of Responsible Party Date: May 13, 2004 FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 NOTES TO THE MONTHLY OPERATING REPORT GENERAL The report includes activity from the following Debtors and related Case Numbers [1] [2] [3] [4]
DEBTOR CASE NUMBER - ------ ----------- INCLUDED IN FLEMING SECTION OF THE MOR AS APPLICABLE: Fleming Companies, Inc. 03-10945 ABCO Food Group, Inc. 03-10946 ABCO Markets, Inc. 03-10947 ABCO Realty Corp. 03-10948 Favar Concepts, Ltd. 03-10953 Fleming Foods Management Co., L.L.C. 03-10954 Fleming Foods of Texas, L.P. 03-10955 Fleming International, Ltd. 03-10956 Fleming Transportation Service, Inc. 03-10957 Fleming Supermarkets of Florida, Inc. 03-10958 Food 4 Less Beverage Company, Inc. 03-10959 FuelServ, Inc. 03-10960 Piggly Wiggly Company 03-10965 Progressive Realty, Inc. 03-10966 Rainbow Food Group, Inc. 03-10967 Retail Investments, Inc. 03-10968 Retail Supermarkets, Inc. 03-10970 RFS Marketing Services, Inc. 03-10971 Richmar Foods, Inc. 03-10972 Dunigan Fuels, Inc. 03-10973 INCLUDED IN CORE-MARK SECTION OF THE MOR AS APPLICABLE: Core-Mark International, Inc. 03-10944 ASI Office Automation, Inc. 03-10949 Core-Mark Mid-Continent, Inc. 03-10950 Core-Mark Interrelated Companies, Inc. 03-10951 C/M Products, Inc. 03-10952 General Acceptance Corporation 03-10961 Marquise Ventures Company, Inc. 03-10962 Head Distributing Company 03-10963 Minter Weisman Co. 03-10964
NOTES: [1] All information contained within this Monthly Operating Report is subject to change upon further reconciliation. [2] "the Company" refers to Fleming Companies, Inc. and its related subsidiaries. [3] Within this Monthly Operating Report Core-Mark's Eastern Divisions or "Fleming 7" refers to Head Distributing Company, Minter-Weisman, and the Marshfield, Chicago, Altoona and Leitchfield divisions included within Fleming Companies, Inc. Of the "Fleming 7", one division (Marshfield) was closed during 2003 and three divisions (one of the two divisions in Head and Chicago and Altoona) were closed at the end of 2003. [4] The Monthly Operating Report excludes financial activity related to non-Debtor entities (i.e., Choteau Development Company, LLC, etc.). FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 WEEKLY RECEIPTS AND DISBURSEMENTS [1] (DOLLARS IN 000'S)
CURRENT CUMULATIVE PERIOD FILING WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 TOTAL TO DATE -------- -------- --------- -------- -------- --------- ------------ CASH RECEIPTS: Fleming Receipts $ 500 633 376 213 616 $ 2,339 $ 2,459,583 Core-Mark Receipts[3] 62,102 62,523 64,710 63,030 37,106 289,470 3,834,361 Asset / Excess Inventory Sales & Other 97 52 -- -- 84 232 330,056 -------- -------- --------- -------- -------- --------- ----------- ACTUAL RECEIPTS $ 62,699 $ 63,207 $ 65,086 $ 63,243 $ 37,806 $ 292,041 $ 6,624,001 -------- -------- --------- -------- -------- --------- ----------- CASH DISBURSEMENTS FROM OPERATIONS: Material Purchases - Fleming $ (14) (127) (3) (19) -- $ (163) $(1,620,196) Material Purchases - Core-Mark[3] (44,607) (45,505) (48,261) (53,344) (28,647) (220,364) (2,824,594) Tax Disbursements - Cigarettes (10,228) (9,878) (10,646) (13,941) (6,488) (51,181) (581,661) Tax Disbursements - Other (132) (76) (146) (2) (0) (356) (13,068) Employee & Payroll (992) (4,238) (675) (4,728) (2,688) (13,320) (369,535) Lease & Recurring Costs (753) (237) (228) (132) (426) (1,776) (98,811) Other Operating Costs (2,493) (3,776) (1,917) (1,991) (969) (11,146) (285,971) -------- -------- --------- -------- -------- --------- ----------- ACTUAL CASH DISBURSEMENTS FROM OPERATIONS $(59,219) $(63,837) $ (61,875) $(74,156) $(39,218) $(298,306) $(5,793,836) -------- -------- --------- -------- -------- --------- ----------- CASH DISBURSEMENTS FROM NON-OPERATIONS: DSD/Critical Vendor/PACA Payments [2] $ -- -- -- -- (1,554) $ (1,554) $ (102,548) Capital Expenditures -- -- -- -- -- -- (2,216) Restructuring & Professional Fees (1,854) (75) (658) (4,264) (18) (6,870) (80,466) Interest & Financing (317) (327) (164) -- -- (808) (85,057) Other Non-Operating Costs -- -- -- -- -- -- -- Debt Repayment [4] $ (56,481) $ (56,481) $ (420,764) -------- -------- --------- -------- -------- --------- ----------- ACTUAL CASH DISBURSEMENTS FROM NON-OPERATIONS $ (2,171) $ (403) $ (57,303) $ (4,264) $ (1,572) $ (65,713) $ (691,050) -------- -------- --------- -------- -------- --------- ----------- TOTAL ACTUAL DISBURSEMENTS $(61,391) $(64,239) $(119,178) $(78,420) $(40,790) $(364,019) $(6,484,887) -------- -------- --------- -------- -------- --------- -----------
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT PERIOD COLUMN) TOTAL DISBURSEMENTS (364,019) LESS: Transfers to Debtor in Possession Accounts -- PLUS: Estate Disbursements Made By Outside Sources (i.e. from escrow accounts) -- -------- TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES (364,019)
Notes [1] Weekly Receipts and Disbursements include both Core-Mark and Fleming for the current month. Week five contains only three business days. [2] This Monthly Operating Report (including the periods covering April 1, 2003 through February 29, 2004 reports previously filed) includes within the DSD/Critical Vendor/PACA Payments, among others, DSD and PACA disbursements made to segregated escrow accounts for future disbursement. The DSD and PACA escrow disbursements do not represent actual DSD and PACA settlement disbursements made during the period, only those funds set aside in escrow. [3] All seven of the Core-Mark eastern divisions are included in the Core-Mark amounts, although only three currently remain open. [4] $56.4 million of pre-petition debt was paid down as follows: Revolver $24.2 million, Term $23.8 million, and $8.5 million was set aside to collateralize letters of credit. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 CASH DISBURSEMENTS BY PETITIONING ENTITY [1] (DOLLARS IN 000'S)
PETITIONING ENTITIES CASE NUMBER CURRENT PERIOD TOTAL CUMULATIVE FILING TO DATE - -------------------- ----------- -------------------- ------------------------- Core-Mark International, Inc. 03-10944 $ (201,519) $ (2,505,146) Fleming Companies, Inc. 03-10945 (76,260) (2,596,520) ABCO Food Group, Inc. 03-10946 - ABCO Markets, Inc. 03-10947 - ABCO Realty Corp. 03-10948 - ASI Office Automation, Inc. 03-10949 - Core-Mark Mid-Continent, Inc. 03-10950 (44,971) (550,512) Core-Mark Interrelated Companies, Inc. 03-10951 (7,966) (92,674) C/M Products, Inc. 03-10952 - Favar Concepts, Ltd. 03-10953 (667) Fleming Foods Management Co., L.L.C. 03-10954 - Fleming Foods of Texas, L.P. 03-10955 (113,199) Fleming International, Ltd. 03-10956 (1,399) Fleming Transportation Service, Inc. 03-10957 124 Fleming Supermarkets of Florida, Inc. 03-10958 - Food 4 Less Beverage Company, Inc. 03-10959 - Fuelserv, Inc. 03-10960 - General Acceptance Corporation 03-10961 - Marquise Ventures Company, Inc. 03-10962 - Head Distributing Company 03-10963 (7,723) (87,042) Minter Weisman Co. 03-10964 (25,580) (268,477) Piggly Wiggly Company 03-10965 (891) Progressive Realty, Inc. 03-10966 (4) Rainbow Food Group, Inc. 03-10967 (31,595) Retail Investments, Inc. 03-10968 (165,252) Retail Supermarkets, Inc. 03-10970 - RFS Marketing Services, Inc. 03-10971 - Richmar Foods, Inc. 03-10972 (71,566) Dunigan Fuels, Inc. 03-10973 (67) ---------- ------------ TOTAL ACTUAL DISBURSEMENTS [2] [3] $ (364,019) $ (6,484,887) ---------- ------------
NOTES [1] Employee and Payroll disbursements, per the Weekly Receipts and Disbursements schedule, were paid $1.5 million for Fleming Companies, Inc and $11.8 million for Core-Mark International, Inc. [2] Total cash disbursements provided by both Core-Mark and Fleming during the period did not agree to Total Actual Disbursements on the Weekly Receipts and Disbursement schedule. Therefore, the difference was allocated between the Core-Mark and Fleming entities based on each entities % of total cash disbursements prior to allocation. [3] Total Actual Disbursements contain Core-Mark and Fleming disbursements for the current month and for 4/1/03 through the current month for the Cumulative Filing to Date. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BANK ACCOUNT INFORMATION
PETITIONING ENTITIES BANK ACCOUNT NUMBER TYPE - -------------------- ---- -------------- ---- Core-Mark International, Inc Bank Of Montreal 5691032070 Disbursement Core-Mark International, Inc Bank Of Montreal 127881013601 Disbursement Core-Mark International, Inc Bank Of Montreal 07600000313 Depository/Disbursement Core-Mark International, Inc Bank Of Montreal 07601154963 Disbursement Core-Mark International, Inc Bank Of Montreal 07601102397 Disbursement Core-Mark International, Inc Bank Of Montreal 0004-1664-436 Disbursement Core-Mark International, Inc Bank Of Montreal 07604601086 FX Swap Funding Acct Core-Mark International, Inc JP Morgan 323252028 Depository Core-Mark International, Inc JP Morgan Chase 9102775419 Disbursement Core-Mark International, Inc JP Morgan Chase 9102775435 Disbursement Core-Mark International, Inc JP Morgan Chase 9102775443 Disbursement Core-Mark International, Inc JP Morgan Chase 9102775427 Disbursement Core-Mark International, Inc JP Morgan Chase 601809668 Disbursement Core-Mark International, Inc Scotia Bank 112390010715 Depository Core-Mark International, Inc Scotia Bank 71480000914 Depository Core-Mark International, Inc Scotia Bank 4052700104313 Depository Core-Mark International, Inc Scotia Bank 714800001414 Depository Core-Mark International, Inc Scotia Bank 714800011312 Depository Core-Mark International, Inc Washington Trust Bank 1001823194 Depository Core-Mark International, Inc Wells Fargo 4159287788 Depository Core-Mark International, Inc Wells Fargo 4518099999 Depository Core-Mark International, Inc Wells Fargo 4311848436 Depository Core-Mark International, Inc Wells Fargo 4159555366 Depository Core-Mark International, Inc Wells Fargo 4518100110 Depository Core-Mark International, Inc Wells Fargo 4128523081 Depository Core-Mark International, Inc Wells Fargo 4518100235 Depository Core-Mark International, Inc Wells Fargo 4518100177 Depository Core-Mark International, Inc Wells Fargo 4758355309 Depository Core-Mark International, Inc Wells Fargo 4159688902 Depository Core-Mark International, Inc Wells Fargo 4091220731 Depository Core-Mark International, Inc Wells Fargo 4801900069 Depository Core-Mark International, Inc Wells Fargo 4801908815 Depository Core-Mark International, Inc Wells Fargo 4496851460 Depository Core-Mark International, Inc Wells Fargo 4311848584 Disbursement Core-Mark International, Inc Wells Fargo 4759613938 Disbursement Core-Mark International, Inc Wells Fargo 4518110564 Disbursement Core-Mark International, Inc Wells Fargo / Wachovia 540459849 Disbursement Core-Mark International, Inc Wilson & Muir 7516436 Depository Fleming Companies, Inc. Bank of America 3751525666 Depository Fleming Companies, Inc. Bank of America 3751508777 Depository Fleming Companies, Inc. Bank of America 3751022745 Depository Fleming Companies, Inc. Bank One 10148350 Disbursement Fleming Companies, Inc. Fleet Non Union Health 1713312 Disbursement Fleming Companies, Inc. JP Morgan 22426761 Disbursement Fleming Companies, Inc. JP Morgan 8806323919 Depository Fleming Companies, Inc. JP Morgan 8806363428 Depository Fleming Companies, Inc. JP Morgan 323252842 Depository Fleming Companies, Inc. JP Morgan 8806247712 Depository Fleming Companies, Inc. JP Morgan 8806232185 Depository Fleming Companies, Inc. JP Morgan 8806232227 Depository Fleming Companies, Inc. JP Morgan 8806258271 Depository/Disbursement Fleming Companies, Inc. JP Morgan 8806362958 Depository/Disbursement Fleming Companies, Inc. JP Morgan 8806170047 Disbursement Fleming Companies, Inc. JP Morgan 8805174594 Disbursement Fleming Companies, Inc. JP Morgan 6300030353 Disbursement Fleming Companies, Inc. JP Morgan 6300064998 Disbursement Head Distributing Co. Bank Of America 3752010688 Depository Head Distributing Co. Suntrust 8801337430 Depository Head Distributing Co. Union Planters Bank 3500594164 Depository Minter Weisman Bank of America 3299781296 Disbursement Plymouth (minter weisman) US Bank 160234449926 Depository
FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BANK ACCOUNT INFORMATION
PETITIONING ENTITIES BANK ACCOUNT NUMBER TYPE - -------------------- ---- -------------- ----
FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) (DOLLARS IN 000'S)
MARCH 1, 2004 - FLEMING COMPANIES, INC. & SUBSIDIARIES [1] [2] [3] MARCH 31, 2004 - -------------------------------------------------- -------------- NET SALES $ 356,494 COSTS AND EXPENSES: Cost of sales (346,213) Selling and administrative (9,646) Reorganization items, net (147) Interest expense (128) Interest income and other 288 Impairment/restructuring charges (598) --------- TOTAL COSTS AND EXPENSES (356,443) --------- Income/(Loss) before income taxes 51 Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM CONTINUING OPERATIONS 51 --------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (15,572) Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (15,572) --------- --------- NET INCOME/(LOSS) $ (15,521) ---------
NOTES [1] Excludes ABCO Markets, Inc., ABCO Realty Corp., ASI Office Automation, Inc., C/M Products, Inc., Fleming Foods Management Co., L.L.C., Fleming Supermarkets of Florida, Inc., Food 4 Less Beverage Company, Inc., FuelServ, Inc., General Acceptance Corporation, Marquise Ventures Company, Inc. and Retail Supermarkets, Inc. as these entities had no activity during the period. In addition, no individual Statement of Operations have been provided for these legal entities in the Monthly Operating Report. [2] Certain expenses are recorded each period using estimates, then reviewed and adjusted at the end of a quarter (i.e., self-insurance reserves, allowance for bad debts, etc.). [3] Continuing Operations as of the current month includes only the convenience business (or Core-Mark, including the Fleming 7). All other businesses have been reclassified as Discontinued Operations as required by SFAS 146. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - ABCO FOOD GROUP, INC. MARCH 31, 2004 - --------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- --------- TOTAL COSTS AND EXPENSES -- --------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- --------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- --------- --------- NET INCOME/(LOSS) $ -- ---------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - CORE-MARK INTERNATIONAL, INC. MARCH 31, 2004 - ----------------------------- -------------- NET SALES $ 254,400 COSTS AND EXPENSES: Cost of sales (246,958) Selling and administrative (7,007) Reorganization items, net (147) Interest expense (128) Interest income and other 233 Impairment/restructuring charges -- --------- TOTAL COSTS AND EXPENSES (254,007) --------- Income/(Loss) before income taxes 393 Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM CONTINUING OPERATIONS 393 --------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- --------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- --------- --------- NET INCOME/(LOSS) $ 393 ---------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - CORE-MARK INTERRELATED COMPANIES, INC. MARCH 31, 2004 - -------------------------------------- -------------- Net sales $ 8,677 Costs and expenses: Cost of sales (8,222) Selling and administrative (98) Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ------- TOTAL COSTS AND EXPENSES (8,320) ------- Income/(Loss) before income taxes 357 Taxes on income/(loss) -- ------- INCOME/(LOSS) FROM CONTINUING OPERATIONS 357 ------- Discontinued operations: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ------- ------- NET INCOME/(LOSS) $ 357 -------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - CORE-MARK MID-CONTINENT, INC. MARCH 31, 2004 - ----------------------------- -------------- NET SALES $ 45,687 COSTS AND EXPENSES: Cost of sales (44,259) Selling and administrative (941) Reorganization items, net -- Interest expense -- Interest income and other 0 Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES (45,200) ---------- Income/(Loss) before income taxes 487 Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS 487 ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ 487 ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - DUNIGAN FUELS, INC. MARCH 31, 2004 - ------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ -- ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - FAVAR CONCEPTS, LTD MARCH 31, 2004 - ------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (13) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (13) ---------- ---------- NET INCOME/(LOSS) $ (13) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - FLEMING COMPANIES, INC. MARCH 31, 2004 - ----------------------- -------------- NET SALES $ 15,101 COSTS AND EXPENSES: Cost of sales (14,863) Selling and administrative (460) Reorganization items, net -- Interest expense -- Interest income and other 8 Impairment/restructuring charges (598) ---------- TOTAL COSTS AND EXPENSES (15,912) ---------- Income/(Loss) before income taxes (812) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS (812) ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (15,418) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (15,418) ---------- ---------- NET INCOME/(LOSS) $ (16,230) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - FLEMING FOODS OF TEXAS, L.P. MARCH 31, 2004 - ---------------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (51) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (51) ---------- ---------- NET INCOME/(LOSS) $ (51) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - FLEMING INTERNATIONAL, LTD MARCH 31, 2004 - -------------------------- -------------- Net sales $ -- Costs and expenses: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- Discontinued operations: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ -- ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - FLEMING TRANSPORTATION SERVICES, INC. MARCH 31, 2004 - ------------------------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ -- ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - HEAD DISTRIBUTING COMPANY MARCH 31, 2004 - ------------------------- -------------- NET SALES $ 8,045 COSTS AND EXPENSES: Cost of sales (7,866) Selling and administrative (487) Reorganization items, net -- Interest expense -- Interest income and other 0 Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES (8,352) ---------- Income/(Loss) before income taxes (308) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS (308) ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ (308) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - MINTER-WEISMAN CO. MARCH 31, 2004 - ------------------ -------------- Net sales $ 24,584 Costs and expenses: Cost of sales (24,046) Selling and administrative (653) Reorganization items, net -- Interest expense -- Interest income and other 47 Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES (24,652) ---------- Income/(Loss) before income taxes (68) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS (68) ---------- Discontinued operations: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ (68) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - PIGGLY WIGGLY COMPANY MARCH 31, 2004 - --------------------- -------------- Net sales $ -- Costs and expenses: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- Discontinued operations: Income/(Loss) before income taxes (1) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (1) ---------- ---------- NET INCOME/(LOSS) $ (1) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - PROGRESSIVE REALTY, INC. MARCH 31, 2004 - ------------------------ -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ -- ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - RAINBOW FOOD GROUP, INC. MARCH 31, 2004 - ------------------------ -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (91) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (91) ---------- ---------- NET INCOME/(LOSS) $ (91) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - RETAIL INVESTMENTS, INC. MARCH 31, 2004 - ------------------------ -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes 3 Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS 3 ---------- ---------- NET INCOME/(LOSS) $ 3 ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - RFS MARKETING SERVICES, INC. MARCH 31, 2004 - ---------------------------- -------------- Net sales $ -- Costs and expenses: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- Discontinued operations: Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS -- ---------- ---------- NET INCOME/(LOSS) $ -- ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 STATEMENT OF OPERATIONS (UNAUDITED) [1] (DOLLARS IN 000'S)
MARCH 1, 2004 - RICHMAR FOODS, INC. MARCH 31, 2004 - ------------------- -------------- NET SALES $ -- COSTS AND EXPENSES: Cost of sales -- Selling and administrative -- Reorganization items, net -- Interest expense -- Interest income and other -- Impairment/restructuring charges -- ---------- TOTAL COSTS AND EXPENSES -- ---------- Income/(Loss) before income taxes -- Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM CONTINUING OPERATIONS -- ---------- DISCONTINUED OPERATIONS: Income/(Loss) before income taxes (2) Taxes on income/(loss) -- ---------- INCOME/(LOSS) FROM DISCONTINUED OPERATIONS (2) ---------- ---------- NET INCOME/(LOSS) $ (2) ----------
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Statement of Operations for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) (DOLLARS IN 000'S)
AS OF FLEMING COMPANIES, INC. & SUBSIDIARIES [1] MARCH 31, 2004 - ------------------------------------------ -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents [12] $ 327,749 Receivables, net [2] 421,305 Inventories 141,930 Assets held for sale [3] 3,843 Other current assets 40,264 ----------- TOTAL CURRENT ASSETS 935,091 ----------- Investments and notes receivable, net 94 Investment in direct financing leases -- ----------- Net property and equipment 37,551 ----------- Other assets 44,327 ----------- ----------- TOTAL ASSETS $ 1,017,064 ----------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable [2] $ 220,309 Liabilities held for sale [3] -- Other current liabilities 50,913 ----------- TOTAL CURRENT LIABILITIES 271,223 ----------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities 6,557 Liabilities subject to compromise [4] [5] 2,305,979 Net intercompany due to (from) [6] 1,380 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share 136,221 Capital in excess of par value 710,623 Reinvested earnings (deficit) (2,401,487) Accumulated other comprehensive income: Additional minimum pension liability [11] (15,663) Cumulative foreign currency translation adjustment 2,232 ----------- TOTAL SHAREHOLDERS' EQUITY $(1,568,074) ----------- ----------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,017,064 -----------
LIABILITIES SUBJECT TO COMPROMISE [4] [5] Debt and notes payable [7] [8] $ 1,542,430 Accounts payable [9] [13] 444,219 Damage estimates for closed and rejected leases [10] 148,555 Other liabilities [9] [14] 37,946 Pension obligation [11] 113,354 Taxes payable [9] [15] 19,475 ----------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 2,305,979
GENERAL [1] Excludes ABCO Markets, Inc., ABCO Realty Corp., ASI Office Automation, Inc., C/M Products, Inc., Fleming Foods Management Co., L.L.C., Fleming Supermarkets of Florida, Inc., Food 4 Less Beverage Company, Inc., FuelServ, Inc., General Acceptance Corporation, Marquise Ventures Company, Inc. and Retail Supermarkets, Inc. as these entities had no ending balances as of period close. In addition, no individual Balance Sheets have been provided for these entities in the Monthly Operating Report. [2] The accounts receivable balance includes accounts due from customers as well as vendor deductions for PRADS, military, advertising and other vendor related deductions. The Company continues to reconcile such information and additional adjustments are expected in future periods. No amount has currently been reserved by Fleming for receivables from vendors. Fleming continues to evaluate the recoverability of its customer accounts receivable. [3] Continuing Operations for the month includes only the convenience business. The remaining fixed assets of all other businesses have been reclassified as Assets Held for Sale as required by SFAS 146. [4] Liabilities Subject to Compromise is comprised of prepetition long-term debt, accounts payable, damage estimates for closed and rejected leases, other liabilities, pension obligation and taxes payable. The Company continues to reconcile its liabilities subject to compromise and anticipates additional adjustments will be made in future periods.. [5] The Company has paid certain prepetition liabilities and continues to reconcile these payments against Liabilities Subject to Compromise. [6] The Net Intercompany Due To (From) line on the entity level balance sheets (except for Fleming Companies, Inc.) will also include that entity's net equity. [7] The senior notes, convertible notes, and senior subordinated notes are guaranteed by substantially all of Fleming's wholly-owned direct and indirect subsidiaries. The guarantees are joint and several, full, complete and unconditional. Within the Monthly Operating Report all related amounts are reflected on the Fleming Companies, Inc. balance sheet. FLEMING ENTITIES [8] Debt and notes payable includes bonds, revolver and term loan and related accrued interest balances as of the current month end. [9] Accounts payable includes trade payables and accrued expenses. Retailer incentives (previously in accounts payable) have been reclassified to accounts receivable. Other liabilities includes accrued compensation, accrued severance, union pension withdrawal liabilities, other current liabilities, deferred income, and other long-term liabilities. Taxes payable includes income taxes and taxes other than income. Cigarette taxes payable is included in accounts payable. The balances for these accounts resulted from an ongoing review of these accounts. The Company continues to reconcile these accounts and additional adjustments are expected in future periods. See also footnote 2 above. [10] Damage estimates for closed and rejected leases are current end of month balances. [11] Effective January 1, 2004, the Fleming Consolidated Pension Plan was transferred to the Pension Benefit Guarantee Corporation (PBGC). This resulted in a reversal of the related additional minimum pension liability adjustment, which reduced the pension accrual in Liabilities Subject to Compromise and reduced the Additional Minimum Pension Liability in Accumulated Other Comprehensive Income in the equity section. The liability subject to compromise relating to this plan on the balance sheet is approximately $55 million whereas the current claims by the PBGC total in excess of $300 million. The Company and its actuaries are currently in negotiations with the PBGC regarding the settlement of these claims. [12] Cash and cash equivalents includes restricted cash related to the collateralization of prepetition letters of credit totaling approximately $68 million. CORE-MARK ENTITIES [13] Accounts payable includes trade payables and accrued expenses. Accounts payable represents a review of the accounts payable trial balance. See also footnote 2 above. [14] Other liabilities, which include accrued compensation, other current liabilities and other long-term liabilities, represent a review of the applicable balance sheet account. [15] Taxes payable includes income taxes and taxes other than income. Income tax liability and taxes other than income represent a review of the applicable balance sheet accounts. Cigarette taxes payable is included in accounts payable. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF ABCO FOOD GROUP, INC. MARCH 31, 2004 - --------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets 3 ---------- TOTAL CURRENT ASSETS 3 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 3 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES -- ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 1,300 Net intercompany due to (from) (1,297) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 1,300 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 1,300
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF CORE-MARK INTERNATIONAL, INC. MARCH 31, 2004 - ----------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 69,401 Receivables, net 137,463 Inventories 91,621 Assets held for sale -- Other current assets 32,671 ---------- TOTAL CURRENT ASSETS 331,156 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment 18,453 ---------- Other assets 35,314 ---------- ---------- TOTAL ASSETS $ 384,923 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 115,511 Liabilities held for sale -- Other current liabilities 14,761 ---------- TOTAL CURRENT LIABILITIES 130,272 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities 5,678 Liabilities subject to compromise 81,861 Net intercompany due to (from) 167,112 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 384,923 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 77,468 Damage estimates for closed and rejected leases -- Other liabilities 70 Pension obligation 4,270 Taxes payable 52 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 81,861
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF CORE-MARK INTERRELATED COMPANIES, INC. MARCH 31, 2004 - -------------------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 2,435 Inventories 6,979 Assets held for sale -- Other current assets 58 ---------- TOTAL CURRENT ASSETS 9,473 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment 297 ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 9,770 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 203 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 203 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 5,207 Net intercompany due to (from) 4,360 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 9,770 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 5,207 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,207
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF CORE-MARK MID-CONTINENT, INC. MARCH 31, 2004 - ----------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 23,011 Inventories 18,799 Assets held for sale -- Other current assets 3,154 ---------- TOTAL CURRENT ASSETS 44,964 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment 11,152 ---------- Other assets 2,250 ---------- ---------- TOTAL ASSETS $ 58,366 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,686 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 2,686 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 5,329 Net intercompany due to (from) 50,351 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 58,366 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 5,298 Damage estimates for closed and rejected leases -- Other liabilities 31 Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,329
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF DUNIGAN FUELS, INC. MARCH 31, 2004 - ------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 2,941 Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS 2,941 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 2,941 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES -- ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities 81 Liabilities subject to compromise 7,867 Net intercompany due to (from) (5,006) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 2,941 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 7,267 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable 600 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 7,867
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF FAVAR CONCEPTS, LTD MARCH 31, 2004 - ------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS -- ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ -- ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES -- ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 1,249 Net intercompany due to (from) (1,249) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ -- ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 542 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable 706 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 1,249
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF FLEMING COMPANIES, INC. MARCH 31, 2004 - ----------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents [3] $ 257,599 Receivables, net 196,202 Inventories 7,774 Assets held for sale 3,840 Other current assets 1,893 ----------- TOTAL CURRENT ASSETS 467,308 ----------- Investments and notes receivable, net 94 Investment in direct financing leases -- ----------- Net property and equipment 3,632 ----------- Other assets 5,322 ----------- ----------- TOTAL ASSETS $ 476,356 ----------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 95,646 Liabilities held for sale -- Other current liabilities 35,717 ----------- TOTAL CURRENT LIABILITIES 131,363 ----------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities 798 Liabilities subject to compromise 2,145,219 Net intercompany due to (from) (232,951) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share 136,221 Capital in excess of par value 710,623 Reinvested earnings (deficit) (2,401,487) Accumulated other comprehensive income: -- Additional minimum pension liability [2] (15,663) Cumulative foreign currency translation adjustment 2,232 ----------- TOTAL SHAREHOLDERS' EQUITY $(1,568,074) ----------- ----------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 476,356 ----------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ 1,542,430 Accounts payable 295,189 Damage estimates for closed and rejected leases 148,555 Other liabilities 35,425 Pension obligation [2] 109,084 Taxes payable 14,536 ----------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 2,145,219
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. [2] Effective January 1, 2004, the Fleming Consolidated Pension Plan was transferred to the Pension Benefit Guarantee Corporation (PBGC). This resulted in a reversal of the related additional minimum pension liability adjustment, which reduced the pension accrual in Liabilities Subject to Compromise and reduced the Additional Minimum Pension Liability in Accumulated Other Comprehensive Income in the equity section. The liability subject to compromise relating to this plan on the balance sheet is approximately $55 million whereas the current claims by the PBGC total in excess of $300 million. The Company and its actuaries are currently in negotiations with the PBGC regarding the settlement of these claims. [3] Cash and cash equivalents includes restricted cash related to the collateralization of prepetition letters of credit totaling approximately $68 million. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF FLEMING FOODS OF TEXAS, L.P. MARCH 31, 2004 - ---------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 25,038 Inventories -- Assets held for sale -- Other current assets 21 ---------- TOTAL CURRENT ASSETS 25,058 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets 4 ---------- ---------- TOTAL ASSETS $ 25,062 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 505 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 505 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 14,694 Net intercompany due to (from) 9,864 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 25,062 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 12,693 Damage estimates for closed and rejected leases -- Other liabilities 305 Pension obligation -- Taxes payable 1,696 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 14,694
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF FLEMING INTERNATIONAL, LTD MARCH 31, 2004 - -------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 190 Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS 190 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 190 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES -- ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise -- Net intercompany due to (from) 190 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 190 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable -- Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF FLEMING TRANSPORTATION SERVICES, INC. MARCH 31, 2004 - ------------------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS -- ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ -- ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 6 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 6 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 252 Net intercompany due to (from) (259) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ -- ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 252 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 252
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF HEAD DISTRIBUTING COMPANY MARCH 31, 2004 - ------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 312 Receivables, net 9,833 Inventories 3,899 Assets held for sale 3 Other current assets 705 ---------- TOTAL CURRENT ASSETS 14,751 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment 1,698 ---------- Other assets 1,330 ---------- ---------- TOTAL ASSETS $ 17,780 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,167 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 1,167 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 6,309 Net intercompany due to (from) 10,304 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,780 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 6,309 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 6,309
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF MINTER-WEISMAN CO. MARCH 31, 2004 - ------------------ -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 437 Receivables, net 11,365 Inventories 12,859 Assets held for sale -- Other current assets 984 ---------- TOTAL CURRENT ASSETS 25,645 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment 2,318 ---------- Other assets 29 ---------- ---------- TOTAL ASSETS $ 27,993 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 2,981 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 2,981 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 5,502 Net intercompany due to (from) 19,510 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 27,993 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 5,502 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 5,502
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF PIGGLY WIGGLY COMPANY MARCH 31, 2004 - --------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 456 Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS 456 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 456 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 149 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 149 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 320 Net intercompany due to (from) (14) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 456 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 319 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable 1 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 320
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF PROGRESSIVE REALTY, INC. MARCH 31, 2004 - ------------------------ -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS -- ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ -- ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities 301 ---------- TOTAL CURRENT LIABILITIES 301 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 9 Net intercompany due to (from) (311) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ -- ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 9 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 9
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF RAINBOW FOOD GROUP, INC. MARCH 31, 2004 - ------------------------ -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 4,839 Inventories -- Assets held for sale -- Other current assets 23 ---------- TOTAL CURRENT ASSETS 4,862 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets 79 ---------- ---------- TOTAL ASSETS $ 4,941 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 638 Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES 638 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 19,793 Net intercompany due to (from) (15,490) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 4,941 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 19,793 Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 19,793
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF RETAIL INVESTMENTS, INC. MARCH 31, 2004 - ------------------------ -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS -- ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ -- ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ -- Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES -- ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise -- Net intercompany due to (from) -- SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ -- ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable -- Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF RFS MARKETING SERVICES, INC. MARCH 31, 2004 - ---------------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net -- Inventories -- Assets held for sale -- Other current assets -- ---------- TOTAL CURRENT ASSETS -- ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ -- ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ (8) Liabilities held for sale -- Other current liabilities -- ---------- TOTAL CURRENT LIABILITIES (8) ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise -- Net intercompany due to (from) 8 SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ -- ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable -- Damage estimates for closed and rejected leases -- Other liabilities -- Pension obligation -- Taxes payable -- ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ --
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 BALANCE SHEET (UNAUDITED) [1] (DOLLARS IN 000'S)
AS OF RICHMAR FOODS, INC. MARCH 31, 2004 - ------------------- -------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ -- Receivables, net 7,531 Inventories -- Assets held for sale -- Other current assets 753 ---------- TOTAL CURRENT ASSETS 8,284 ---------- Investments and notes receivable, net -- Investment in direct financing leases -- ---------- Net property and equipment -- ---------- Other assets -- ---------- ---------- TOTAL ASSETS $ 8,284 ---------- LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 824 Liabilities held for sale -- Other current liabilities 134 ---------- TOTAL CURRENT LIABILITIES 958 ---------- Long-term debt -- Long-term obligations under capital leases -- Other liabilities -- Liabilities subject to compromise 11,068 Net intercompany due to (from) (3,743) SHAREHOLDERS' EQUITY: Common stock, $2.50 par value per share Capital in excess of par value Reinvested earnings (deficit) Accumulated other comprehensive income: -- Additional minimum pension liability Cumulative foreign currency translation adjustment ---------- TOTAL SHAREHOLDERS' EQUITY $ -- ---------- ---------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 8,284 ---------- LIABILITIES SUBJECT TO COMPROMISE Debt and notes payable $ -- Accounts payable 7,070 Damage estimates for closed and rejected leases -- Other liabilities 2,115 Pension obligation -- Taxes payable 1,883 ---------- TOTAL LIABILITIES SUBJECT TO COMPROMISE $ 11,068
NOTES [1] Refer to Fleming Companies, Inc. & Subsidiaries Balance Sheet for all financial statement footnotes. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 (DOLLARS IN 000'S) STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.
FLEMING [9] BEGINNING AMOUNT ENDING TAX WITHHELD OR AMOUNT TAX LIABILITY ACCRUED PAID [9] LIABILITY --------- ----------- --------- --------- FEDERAL Payroll Taxes [1] $ -- $ -- $ -- $ -- Income [10] $ 201 (49) 152 TOTAL FEDERAL TAXES $ 201 $ -- $ (49) $ 152 STATE AND LOCAL Payroll Taxes [1] $ -- $ -- $ -- $ -- Sales [2] $ -- -- -- -- Excise [2] $ 130 -- 14 144 Real & Personal Property [3] $ 2,441 -- 2,441 Cigarette & Tobacco [4] $ -- -- -- -- Franchise [2] $ 411 -- 411 Total State and Local $ 2,982 $ -- $ 14 $ 2,996 TOTAL TAXES $ 3,183 $ -- $ (35) $ 3,148
CORE-MARK [9] BEGINNING AMOUNT ENDING TAX WITHHELD OR AMOUNT TAX LIABILITY ACCRUED PAID LIABILITY --------- ----------- --------- --------- FEDERAL Payroll Taxes [1] $ 212 $ 2,408 $ (2,315) $ 305 Income [10] $ 237 -- -- 237 TOTAL FEDERAL TAXES $ 449 $ 2,408 $ (2,315) $ 542 STATE AND LOCAL Payroll Taxes [1] $ 7 $ 302 $ (306) $ 3 Sales $ 11 54 (48) 17 Excise $ 353 224 (163) 414 Real & Personal Property [3] $ 660 229 (107) 782 Cigarette & Tobacco $ 37,819 98,436 (102,103) 34,151 Other: GST [5] $ 3,951 2,618 (4,400) 2,169 Other: Spokane & Portland B&O Tax [6] $ 47 58 (47) 58 Total State and Local $ 42,848 $ 101,921 $(107,174) $ 37,594 TOTAL TAXES $ 43,297 $ 104,329 $(109,489) $ 38,136
SUMMARY OF UNPAID POSTPETITION DEBTS
FLEMING ACCOUNTS PAYABLE AGING (IN THOUSANDS) AMOUNT - --------------------------------------------- ------ Current $ -- 0 - 30 days [7] 97,761 31 - 60 days -- 61 - 90 days -- 91+ days -- Total Accounts Payable [8] $ 97,761
CORE-MARK ACCOUNTS PAYABLE AGING (IN THOUSANDS) AMOUNT - --------------------------------------------- ------ Current $ -- 0 - 30 days [7] 122,548 31 - 60 days -- 61 - 90 days -- 91+ days -- Total Accounts Payable [8] $ 122,548
EXPLAIN HOW AND WHEN THE DEBTOR INTENDS TO PAY ANY PAST-DUE POSTPETITION DEBTS. Fleming Companies, Inc. and its related subsidiaries do not have material past due postpetition debts. However, those debts that are past due will be paid through the ordinary course of business. Further, Fleming Companies, Inc. anticipates it will incur certain contract cure costs related to those contracts assigned to C&S Wholesale Grocers, Inc. as a result of the sale of Fleming Companies, Inc.'s wholesale grocery operations. NOTES [1] Payroll taxes include all employer and employee payroll related items withheld and accrued. [2] Sales, Excise and Franchise postpetition taxes are calculated by adding to the previous months balance the net accrual increase or decrease in the current month. [3] Fleming's postpetition real and personal property taxes include 275/365 of 2003 (April 2003 through December 2003) taxes and 2004 taxes. Additionally, Core-Mark's real and personal property taxes excludes Plymouth as it is included in Fleming. All other Eastern divisions are included in Core-Mark. [4] There is no longer an accrual or expense related to cigarette and tobacco taxes as all the applicable Fleming entities have been closed or sold. [5] GST refers to Canadian Goods and Service Taxes. [6] B&O tax refers to Business and Occupational taxes for Spokane and Portland only. [7] Fleming and Core-Mark were unable to provide an Accounts Payable Aging. Therefore, Accounts Payable is shown as 30 days old. Core-Mark's aging includes Head and Minter-Weisman and Fleming's includes the four convenience divisions that are part of Fleming Companies, Inc. [8] Accounts Payable per the Balance Sheet includes trade accounts payable and other accrued expenses. See footnote [2] on Form MOR-5. [9] Amount Paid represents amounts paid, amounts received and other adjustments during the period. [10] The Federal Income Tax category includes balances and activity for both Federal and State. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 (DOLLARS IN 000'S) ACCOUNTS RECEIVABLE AGINGS
FLEMING ACCOUNTS RECEIVABLE AGING [1] [2] AMOUNT - ----------------------------------------- ------ Not Due $ 2,865 Current 6,450 1 - 7 days old 593 8 - 14 days old 593 15 - 21 days old 593 + Over 21 days 305,048 Credits Over 21 days [6] -- Total Accounts Receivable $ 316,142 Amount considered uncollectible (Bad Debt) [3] (78,945) Accounts Receivable (Net) $ 237,197
CORE-MARK ACCOUNTS RECEIVABLE AGING [1] [4] AMOUNT - ------------------------------------------- ------ Current $ 165,684 1 - 30 days old 15,849 31 - 45 days old 1,051 40 - 60 days old 765 61 - 90 days old 343 91 - 120 days old 436 + Over 120 days 4,183 Total Accounts Receivable $ 188,311 Amount considered uncollectible (Bad Debt) [3] (4,203) Accounts Receivable (Net) $ 184,108
DEBTOR QUESTIONNAIRE
MUST BE COMPLETED EACH MONTH YES NO - ---------------------------- --- -- 1. Have any assets been sold or transferred outside the normal course X of business this reporting period? If yes, provide an explanation below.[5] 2. Have any funds been disbursed from any account other than a debtor X in possession account this reporting period? If yes, provide an explanation below. 3. Have all postpetition tax returns been timely filed? X If no, provide an explanation below. 4. Are workers compensation, general liability and other necessary X insurance coverages in effect? If no, provide an explanation below.
NOTES [1] Of the Core-Mark's 7 Eastern divisions ("Fleming 7"), Core-Mark's accounts receivable aging includes Head and Minter-Weisman and Fleming's accounts receivable aging includes the four convenience divisions that are part of Fleming Companies, Inc. Four of the seven divisions were closed in 2003. In cases where detail accounts receivable amounts are not available, the amount is allocated to the aging brackets based on each brackets percentage of the total aged accounts receivable amount. [2] In addition to the aging of customer accounts receivable, a large portion of the Fleming receivable balance is from reclassifying vendor deductions from accounts payable, which has been listed as over 21 days. No amount has currently been reserved for these receivables from vendors. Also included in accounts receivable are royalties related to the sale of the wholesale business, which have been listed as "not due". [3] Amount considered uncollectible (Bad Debt) is per the general ledger for all entities as the end of the current month. [4] Core-Mark's Accounts Receivable Aging total differed from the general ledger total due to timing differences and adjustments, including reclassifying vendor deductions from accounts payable. The receivable balance not supported by an aging was listed as current. [5] During the month, Fleming sold miscellaneous parcels of land totaling approximately $65 thousand. [6] Due to changes in the operating system, the dollar amount of credits that are included in the total aged accounts receivable balance is not available. FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: 03/01/04 - 03/31/04 If additional information is required for the current or any future Monthly Operating Reports, please send the request to Rebecca A. Roof at Fleming Companies (1945 Lakepointe Dr.; Lewisville, TX 75057). ERNST & Young LLP 2121 San Jacinto Street, Suite 1500 Dallas Office Dallas TX 75201 Phone (214) 969-8000 Facsimile (214) 969-9770 FLEMING COMPANIES, INC. ET AL. CASE NOS. 03-01944 - 03-10973 (MFW JOINTLY ADMINISTERED) REPORTING PERIOD: MARCH 1, 2004 TO MARCH 31, 2004 TAX AFFIDAVIT By order of this Court dated May 6, 2003, Ernst & Young (E&Y) has been retained to provide certain tax services to the Debtors (the "Tax Services"). E&Y provided the Tax Services pursuant to the terms and conditions set forth in the engagement letter attached hereto as Ex. A which was allowed under the May 6, 2003 Bankruptcy Court Order of E&Y retention. Pursuant to this retention order, E&Y assists the Debtor with the following tax services during the reporting period on behalf of Fleming Companies, Inc. and affiliates ("the Debtor"): o Prepare certain federal income, state income, state franchise, gross receipts and net worth tax returns and provide them to management of the Debtor for signature; o Prepare certain sales, excise, and use tax returns for U.S., state and local governments and provide them to management of the Debtor for filing; o Provide certain property tax returns prepared by third party consultants to management of the Debtor for filing; o Prepare certain property tax returns and provide them to management of the Debtor for filing; and o Update a tax filing calendar for certain income, franchise, sales and use, cigarette, tobacco, and other miscellaneous taxes, and business license filings and provide it to Debtor's management for review and approval. The Debtor's management is responsible for establishing and maintaining its tax system and procedures. During the reporting period, all returns were timely filed with the appropriate jurisdictions. To the best of my knowledge, E&Y has completed the above mentioned activities related to the tax returns covered by the engagement letter which are required to be prepared or filed by the Fleming Companies, Inc. and its affiliates during the reporting period referenced above. May 5, 2004 /s/ LISA P. SHIELD - ----------------------------- ----------------------------- Date Lisa P. Shield, Partner -----END PRIVACY-ENHANCED MESSAGE-----