Condensed Consolidating Financial Information (Tables)

9 Months Ended

12 Months Ended

Jul. 31, 2013

Senior Notes 2020 [Member]

Jul. 31, 2013

Senior Notes 2015 [Member]

Oct. 31, 2012

Quiksilver Inc [Member]

Oct. 31, 2012

Quiksilver, Inc. and QS Wholesale, Inc. [Member]

Condensed Consolidated Statement of Operations

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Third Quarter Ended July 31, 2013

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	116		$	123,731		$	164,367		$	287,539		$	(79,989	)	$	495,764
Cost of goods sold		—			73,392			107,406			129,953			(59,762	)		250,989
Gross profit		116			50,339			56,961			157,586			(20,227	)		244,775
Selling, general and administrative expense		11,426			30,817			35,573			146,211			(7,448	)		216,579
Asset impairments		—			—			925			1,227			—			2,152
Operating (loss)/income		(11,310	)		19,522			20,463			10,148			(12,779	)		26,044
Interest expense, net		12,251			1,420			(28	)		6,552			—			20,195
Foreign currency (gain)/loss		(91	)		(63	)		(56	)		4,284			—			4,074
Equity in earnings		(25,541	)		(331	)		—			—			25,872			—
Income/(loss) before provision/(benefit) for income taxes		2,071			18,496			20,547			(688	)		(38,651	)		1,775
Provision/(benefit) for income taxes		—			(206	)		—			157			—			(49	)
Net income/(loss)		2,071			18,702			20,547			(845	)		(38,651	)		1,824
Net loss attributable to non-controlling interest		—			—			—			247			—			247
Net income/(loss) attributable to Quiksilver, Inc.		2,071			18,702			20,547			(598	)		(38,651	)		2,071
Other comprehensive loss		(2,140	)		—			—			(2,140	)		2,140			(2,140	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(69	)	$	18,702		$	20,547		$	(2,738	)	$	(36,511	)	$	(69	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Third Quarter Ended July 31, 2012

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	117		$	111,519		$	180,380		$	285,858		$	(65,435	)	$	512,439
Cost of goods sold		—			66,365			118,882			130,167			(56,463	)		258,951
Gross profit		117			45,154			61,498			155,691			(8,972	)		253,488
Selling, general and administrative expense		13,533			38,731			42,775			137,695			(6,946	)		225,788
Asset impairments		—			—			141			—			—			141
Operating (loss)/income		(13,416	)		6,423			18,582			17,996			(2,026	)		27,559
Interest expense, net		7,253			1,247			(2	)		6,336			—			14,834
Foreign currency (gain)/loss		(185	)		(8	)		30			(2,079	)		—			(2,242	)
Equity in earnings		(33,094	)		457			—			—			32,637			—
Income before provision for income taxes		12,610			4,727			18,554			13,739			(34,663	)		14,967
Provision for income taxes		—			513			—			1,995			—			2,508
Net income		12,610			4,214			18,554			11,744			(34,663	)		12,459
Net loss attributable to non-controlling interest		—			—			—			151			—			151
Net income attributable to Quiksilver, Inc.		12,610			4,214			18,554			11,895			(34,663	)		12,610
Other comprehensive loss		(28,120	)		—			—			(28,120	)		28,120			(28,120	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(15,510	)	$	4,214		$	18,554		$	(16,225	)	$	(6,543	)	$	(15,510	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Nine Months Ended July 31, 2013

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	348		$	317,643		$	387,084		$	874,994		$	(194,539	)	$	1,385,530
Cost of goods sold		—			191,351			267,351			407,709			(156,499	)		709,912
Gross profit		348			126,292			119,733			467,285			(38,040	)		675,618
Selling, general and administrative expense		39,154			102,946			110,631			429,647			(22,336	)		660,042
Asset impairments		—			1,646			5,602			3,404			—			10,652
Operating (loss)/income		(38,806	)		21,700			3,500			34,234			(15,704	)		4,924
Interest expense, net		26,789			4,329			(83	)		19,956			—			50,991
Foreign currency loss		35			23			221			4,350			—			4,629
Equity in earnings		(4,599	)		(1,018	)		—			—			5,617			—
(Loss)/income before provision/(benefit) for income taxes		(61,031	)		18,366			3,362			9,928			(21,321	)		(50,696	)
Provision/(benefit) for income taxes		422			(161	)		—			10,061			—			10,322
Net (loss)/income		(61,453	)		18,527			3,362			(133	)		(21,321	)		(61,018	)
Net income attributable to non-controlling interest		—			—			—			(435	)		—			(435	)
Net (loss)/income attributable to Quiksilver, Inc		(61,453	)		18,527			3,362			(568	)		(21,321	)		(61,453	)
Other comprehensive loss		(10,753	)		—			—			(10,753	)		10,753			(10,753	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(72,206	)	$	18,527		$	3,362		$	(11,321	)	$	(10,568	)	$	(72,206	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Nine Months Ended July 31, 2012

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	353		$	344,468		$	406,531		$	919,474		$	(216,553	)	$	1,454,273
Cost of goods sold		—			212,651			269,473			422,012			(173,450	)		730,686
Gross profit		353			131,817			137,058			497,462			(43,103	)		723,587
Selling, general and administrative expense		43,318			112,420			121,517			425,162			(22,204	)		680,213
Asset impairments		—			—			556			—			—			556
Operating (loss)/income		(42,965	)		19,397			14,985			72,300			(20,899	)		42,818
Interest expense, net		21,732			3,932			(2	)		19,802			—			45,464
Foreign currency (gain)/loss		(298	)		(132	)		163			(4,434	)		—			(4,701	)
Equity in earnings		(49,284	)		2,190			—			—			47,094			—
(Loss)/income before provision for income taxes		(15,115	)		13,407			14,824			56,932			(67,993	)		2,055
Provision for income taxes		—			945			—			13,968			—			14,913
Net (loss)/income		(15,115	)		12,462			14,824			42,964			(67,993	)		(12,858	)
Less: Net income attributable to non-controlling interest		—			—			—			(2,257	)		—			(2,257	)
Net (loss)/income attributable to Quiksilver, Inc		(15,115	)		12,462			14,824			40,707			(67,993	)		(15,115	)
Other comprehensive loss		(49,151	)		—			—			(49,151	)		49,151			(49,151	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(64,266	)	$	12,462		$	14,824		$	(8,444	)	$	(18,842	)	$	(64,266	)

Condensed Consolidating Statement of Operations

Third Quarter Ended July 31, 2013

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	116		$	235,831		$	287,539		$	(27,722	)	$	495,764
Cost of goods sold		—			140,902			129,953			(19,866	)		250,989
Gross profit		116			94,929			157,586			(7,856	)		244,775
Selling, general and administrative expense		11,426			66,390			146,211			(7,448	)		216,579
Asset impairments		—			925			1,227			—			2,152
Operating (loss)/income		(11,310	)		27,614			10,148			(408	)		26,044
Interest expense, net		12,251			1,392			6,552			—			20,195
Foreign currency (gain)/loss		(91	)		(119	)		4,284			—			4,074
Equity in earnings		(25,964	)		(330	)		—			26,294			—
Income/(loss) before provision/(benefit) for income taxes		2,493			26,671			(688	)		(26,702	)		1,775
Provision/(benefit) for income taxes		422			(628	)		157			—			(49	)
Net income/(loss)		2,071			27,299			(845	)		(26,702	)		1,824
Net loss attributable to non-controlling interest		—			—			247			—			247
Net income/(loss) attributable to Quiksilver, Inc.		2,071			27,299			(598	)		(26,702	)		2,071
Other comprehensive loss		(2,140	)		—			(2,140	)		2,140			(2,140	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(69	)	$	27,299		$	(2,738	)	$	(24,562	)	$	(69	)

Condensed Consolidating Statement of Operations

Third Quarter Ended July 31, 2012

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	117		$	258,595	$	285,858		$	(32,131	)	$	512,439
Cost of goods sold		—			152,405		130,167			(23,621	)		258,951
Gross profit		117			106,190		155,691			(8,510	)		253,488
Selling, general and administrative expense		13,533			81,506		137,695			(6,946	)		225,788
Asset impairments		—			141		—			—			141
Operating (loss)/income		(13,416	)		24,543		17,996			(1,564	)		27,559
Interest expense, net		7,253			1,245		6,336			—			14,834
Foreign currency (gain)/loss		(185	)		22		(2,079	)		—			(2,242	)
Equity in earnings		(33,094	)		457		—			32,637			—
Income before provision for income taxes		12,610			22,819		13,739			(34,201	)		14,967
Provision for income taxes		—			513		1,995			—			2,508
Net income		12,610			22,306		11,744			(34,201	)		12,459
Net loss attributable to non-controlling interest		—			—		151			—			151
Net income attributable to Quiksilver, Inc.		12,610			22,306		11,895			(34,201	)		12,610
Other comprehensive loss		(28,120	)		—		(28,120	)		28,120			(28,120	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(15,510	)	$	22,306	$	(16,225	)	$	(6,081	)	$	(15,510	)

Condensed Consolidating Statement of Operations

Nine Months Ended July 31, 2013

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	348		$	591,842		$	874,994		$	(81,654	)	$	1,385,530
Cost of goods sold		—			362,122			407,709			(59,919	)		709,912
Gross profit		348			229,720			467,285			(21,735	)		675,618
Selling, general and administrative expense		39,154			213,577			429,647			(22,336	)		660,042
Asset impairments		—			7,248			3,404			—			10,652
Operating (loss)/income		(38,806	)		8,895			34,234			601			4,924
Interest expense, net		26,789			4,246			19,956			—			50,991
Foreign currency loss		35			244			4,350			—			4,629
Equity in earnings		(4,599	)		(1,018	)		—			5,617			—
(Loss)/income before provision/(benefit) for income taxes		(61,031	)		5,423			9,928			(5,016	)		(50,696	)
Provision/(benefit) for income taxes		422			(161	)		10,061			—			10,322
Net (loss)/income		(61,453	)		5,584			(133	)		(5,016	)		(61,018	)
Net income attributable to non-controlling interest		—			—			(435	)		—			(435	)
Net (loss)/income attributable to Quiksilver, Inc		(61,453	)		5,584			(568	)		(5,016	)		(61,453	)
Other comprehensive loss		(10,753	)		—			(10,753	)		10,753			(10,753	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(72,206	)	$	5,584		$	(11,321	)	$	5,737		$	(72,206	)

Condensed Consolidating Statement of Operations

Nine Months Ended July 31, 2012

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	353		$	615,658	$	919,474		$	(81,212	)	$	1,454,273
Cost of goods sold		—			366,655		422,012			(57,981	)		730,686
Gross profit		353			249,003		497,462			(23,231	)		723,587
Selling, general and administrative expense		43,318			233,937		425,162			(22,204	)		680,213
Asset impairments		—			556		—			—			556
Operating (loss)/income		(42,965	)		14,510		72,300			(1,027	)		42,818
Interest expense, net		21,732			3,930		19,802						45,464
Foreign currency (gain)/loss		(298	)		31		(4,434	)					(4,701	)
Equity in earnings		(49,284	)		2,190		—			47,094			—
(Loss)/income before provision for income taxes		(15,115	)		8,359		56,932			(48,121	)		2,055
Provision for income taxes		—			945		13,968			—			14,913
Net (loss)/income		(15,115	)		7,414		42,964			(48,121	)		(12,858	)
Less: Net income attributable to non-controlling interest		—			—		(2,257	)		—			(2,257	)
Net (loss)/income attributable to Quiksilver, Inc		(15,115	)		7,414		40,707			(48,121	)		(15,115	)
Other comprehensive loss		(49,151	)		—		(49,151	)		49,151			(49,151	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(64,266	)	$	7,414	$	(8,444	)	$	1,030		$	(64,266	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Year Ended October 31, 2012

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	469		$	854,754		$	1,262,757		$	(104,741	)	$	2,013,239
Cost of goods sold		—			505,420			602,115			(74,642	)		1,032,893
Gross profit		469			349,334			660,642			(30,099	)		980,346
Selling, general and administrative expense		56,983			311,886			577,868			(30,593	)		916,144
Asset impairments		—			5,162			2,072			—			7,234
Operating (loss)/income		(56,514	)		32,286			80,702			494			56,968
Interest expense		28,987			5,351			26,485			—			60,823
Foreign currency gain		(173	)		(35	)		(1,461	)		—			(1,669	)
Equity in earnings		(74,572	)		4,674			—			69,898			—
(Loss)/income before provision for income taxes		(10,756	)		22,296			55,678			(69,404	)		(2,186	)
Provision for income taxes		—			1,144			6,413			—			7,557
Net (loss)/income		(10,756	)		21,152			49,265			(69,404	)		(9,743	)
Less: net income attributable to non-controlling interest		—			—			(1,013	)		—			(1,013	)
Net (loss)/income attributable to Quiksilver, Inc.		(10,756	)		21,152			48,252			(69,404	)		(10,756	)
Other Comprehensive Loss	(29,715)			—			(29,715)			29,715			(29,715)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$(40,471)			$21,152			$18,537			$(39,689)			$(40,471)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Year Ended October 31, 2011

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	464		$	736,110		$	1,270,320		$	(53,833	)	$	1,953,061
Cost of goods sold		—			399,493			554,593			(24,859	)		929,227
Gross profit		464			336,617			715,727			(28,974	)		1,023,834
Selling, general and administrative expense		43,045			311,840			566,703			(25,639	)		895,949
Asset impairments		—			3,399			82,974			—			86,373
Operating (loss)/income		(42,581	)		21,378			66,050			(3,335	)		41,512
Interest expense		28,871			3,785			41,152			—			73,808
Foreign currency loss/(gain)		30			(40	)		(101	)		—			(111	)
Equity in earnings		(50,224	)		(836	)		—			51,060			—
(Loss)/income before provision/(benefit) for income taxes		(21,258	)		18,469			24,999			(54,395	)		(32,185	)
Provision/(benefit) for income taxes		—			165			(14,480	)		—			(14,315	)
Net (loss)/income		(21,258	)		18,304			39,479			(54,395	)		(17,870	)
Less: net income attributable to non-controlling interest		—			—			(3,388	)		—			(3,388	)
Net (loss)/income attributable to Quiksilver, Inc.		(21,258	)		18,304			36,091			(54,395	)		(21,258	)
Other comprehensive income		2,445			—			2,445			(2,445	)		2,445
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(18,813	)	$	18,304		$	38,536		$	(56,840	)	$	(18,813	)

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Year Ended October 31, 2010

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	376		$	683,767		$	1,195,536		$	(42,059	)	$	1,837,620
Cost of goods sold		—			373,740			511,777			(15,145	)		870,372
Gross profit		376			310,027			683,759			(26,914	)		967,248
Selling, general and administrative expense		36,867			283,347			537,153			(25,301	)		832,066
Asset impairments		—			7,585			4,072			—			11,657
Operating (loss)/income		(36,491	)		19,095			142,534			(1,613	)		123,525
Interest expense, net		28,721			55,070			30,318			—			114,109
Foreign currency gain		(285	)		(124	)		(5,508	)		—			(5,917	)
Equity in earnings and other (income)/expense		(50,399	)		(1,482	)		—			51,881			—
(Loss)/income before (benefit)/provision for income taxes		(14,528	)		(34,369	)		117,724			(53,494	)		15,333
(Benefit)/provision for income taxes		(4,844	)		522			27,755			—			23,433
(Loss)/income from continuing operations		(9,684	)		(34,891	)		89,969			(53,494	)		(8,100	)
Income from discontinued operations		—			1,485			345			—			1,830
Net (loss)/income		(9,684	)		(33,406	)		90,314			(53,494	)		(6,270	)
Less: net income attributable to non-controlling interest		—			—			(3,414	)		—			(3,414	)
Net (loss)/income attributable to Quiksilver, Inc.		(9,684	)		(33,406	)		86,900			(53,494	)		(9,684	)
Other comprehensive income		18,286			—			18,286			(18,286	)		18,286
Comprehensive income/(loss) attributable to Quiksilver, Inc.	$	8,602		$	(33,406	)	$	105,186		$	(71,780	)	$	8,602

Condensed Consolidating Statement of Operations

Year Ended October 31, 2012

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	469		$	453,532		$	573,826		$	1,262,757		$	(277,345	)	$	2,013,239
Cost of goods sold		—			275,179			373,016			602,115			(217,417	)		1,032,893
Gross profit		469			178,353			200,810			660,642			(59,928	)		980,346
Selling, general and administrative expense		56,983			147,684			164,202			577,868			(30,593	)		916,144
Asset impairments		—			11			5,151			2,072			—			7,234
Operating (loss)/income		(56,514	)		30,658			31,457			80,702			(29,335	)		56,968
Interest expense, net		28,987			5,352			(1	)		26,485			—			60,823
Foreign currency (gain)/loss		(173	)		(148	)		113			(1,461	)		—			(1,669	)
Equity in earnings		(74,572	)		4,674			—			—			69,898			—
(Loss)/income before provision for income taxes		(10,756	)		20,780			31,345			55,678			(99,233	)		(2,186	)
Provision for income taxes		—			1,144			—			6,413			—			7,557
Net (loss)/income		(10,756	)		19,636			31,345			49,265			(99,233	)		(9,743	)
Less: Net income attributable to non-controlling interest		—			—			—			(1,013	)		—			(1,013	)
Net (loss)/income attributable to Quiksilver, Inc		(10,756	)		19,636			31,345			48,252			(99,233	)		(10,756	)
Other comprehensive loss		(29,715	)		—			—			(29,715	)		29,715			(29,715	)
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(40,471	)	$	19,636		$	31,345		$	18,537		$	(69,518	)	$	(40,471	)

Condensed Consolidating Statement of Operations

Year Ended October 31, 2011

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	464		$	440,088		$	479,559		$	1,270,320		$	(237,370	)	$	1,953,061
Cost of goods sold		—			268,361			291,972			554,593			(185,699	)		929,227
Gross profit		464			171,727			187,587			715,727			(51,671	)		1,023,834
Selling, general and administrative expense		43,045			139,530			172,310			566,703			(25,639	)		895,949
Asset impairments		—			1,778			1,621			82,974			—			86,373
Operating (loss)/income		(42,581	)		30,419			13,656			66,050			(26,032	)		41,512
Interest expense, net		28,871			3,795			(10	)		41,152			—			73,808
Foreign currency loss/(gain)		30			(229	)		189			(101	)		—			(111	)
Equity in earnings		(50,224	)		(836	)		—			—			51,060			—
(Loss)/income before provision/(benefit) for income taxes		(21,258	)		27,689			13,477			24,999			(77,092	)		(32,185	)
Provision/(benefit) for income taxes		—			165			—			(14,480	)		—			(14,315	)
Net (loss)/income		(21,258	)		27,524			13,477			39,479			(77,092	)		(17,870	)
Less: Net income attributable to non-controlling interest		—			—			—			(3,388	)		—			(3,388	)
Net (loss)/income attributable to Quiksilver, Inc		(21,258	)		27,524			13,477			36,091			(77,092	)		(21,258	)
Other comprehensive income		2,445			—			—			2,445			(2,445	)		2,445
Comprehensive (loss)/income attributable to Quiksilver, Inc.	$	(18,813	)	$	27,524		$	13,477		$	38,536		$	(79,537	)	$	(18,813	)

Condensed Consolidating Statement of Operations

Year Ended October 31, 2010

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Revenues, net	$	376		$	418,623		$	421,759		$	1,195,536		$	(198,674	)	$	1,837,620
Cost of goods sold		—			261,491			240,660			511,777			(143,556	)		870,372
Gross profit		376			157,132			181,099			683,759			(55,118	)		967,248
Selling, general and administrative expense		36,867			133,730			149,617			537,153			(29,817	)		832,066
Asset impairments		—			667			6,918			4,072			—			11,657
Operating (loss)/income		(36,491	)		22,735			24,564			142,534			(29,817	)		123,525
Interest expense, net		28,721			55,070			—			30,318			—			114,109
Foreign currency gain		(285	)		(113	)		(11	)		(5,508	)		—			(5,917	)
Equity in earnings and other (income)/expense		(50,399	)		(1,482	)		—			—			51,881			—
(Loss)/income before (benefit)/provision for income taxes		(14,528	)		(30,740	)		24,575			117,724			(81,698	)		15,333
(Benefit)/provision for income taxes		(4,844	)		522			—			27,755			—			23,433
(Loss)/income from continuing operations		(9,684	)		(31,262	)		24,575			89,969			(81,698	)		(8,100	)
Income from discontinued operations		—			—			1,485			345			—			1,830
Net (loss)/income		(9,684	)		(31,262	)		26,060			90,314			(81,698	)		(6,270	)
Less: Net income attributable to non-controlling interest		—			—			—			(3,414	)		—			(3,414	)
Net (loss) income attributable to Quiksilver, Inc		(9,684	)		(31,262	)		26,060			86,900			(81,698	)		(9,684	)
Other comprehensive income		18,286			—			—			18,286			(18,286	)		18,286
Comprehensive income/(loss) attributable to Quiksilver, Inc.	$	8,602		$	(31,262	)	$	26,060		$	105,186		$	(99,984	)	$	8,602

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

July 31, 2013

In thousands	Quiksilver, Inc.		QS Wholesale, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	1	$	2,041	$	(1,761	)	$	62,102	$	—		$	62,383
Restricted cash		409,167		—		—			—		—			409,167
Trade accounts receivable, net		—		84,780		82,734			250,675		—			418,189
Other receivables		19		2,252		3,345			19,364		—			24,980
Income taxes receivable		422		255		—			2,102		—			2,779
Inventories		—		39,453		104,942			277,868		(23,101	)		399,162
Deferred income taxes		—		26,617		—			22,877		(21,408	)		28,086
Prepaid expenses and other current assets		2,961		3,822		4,672			24,364		—			35,819
Intercompany balances		—		174,387		—			—		(174,387	)		—
Total current assets		412,570		333,607		193,932			659,352		(218,896	)		1,380,565
Fixed assets, net		20,261		33,315		23,344			151,077		—			227,997
Intangible assets, net		3,816		44,829		2,094			87,645		—			138,384
Goodwill		—		103,880		7,675			160,862		—			272,417
Other assets		8,373		5,873		1,086			39,229		—			54,561
Deferred income taxes long-term		20,387				—			143,452		(45,236	)		118,603
Investment in subsidiaries		1,092,524		12,815		—			—		(1,105,339	)		—
Total assets	$	1,557,931	$	534,319	$	228,131		$	1,241,617	$	(1,369,471	)	$	2,192,527
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	3,374	$	42,374	$	51,524		$	141,039	$	—		$	238,311
Accrued liabilities		6,320		12,947		9,753			77,981		—			107,001
Current portion of long-term debt		—		6,094		—			37,059		—			43,153
Debt to be redeemed		409,167		—		—			—		—			409,167
Deferred income taxes		20,902		—		506			—		(21,408	)		—
Intercompany balances		83,972		—		58,481			31,934		(174,387	)		—
Total current liabilities		523,735		61,415		120,264			288,013		(195,795	)		797,632
Long-term debt		500,776		9,000		—			297,318		—			807,094
Deferred income taxes long-term		—		42,951		2,285			—		(45,236	)		—
Other long-term liabilities		—		4,954		9,183			20,839		—			34,976
Total liabilities		1,024,511		118,320		131,732			606,170		(241,031	)		1,639,702
Stockholders’/invested equity:		533,420		415,999		96,399			616,042		(1,128,440	)		533,420
Non-controlling interest		—		—		—			19,405		—			19,405
Total liabilities and equity	$	1,557,931	$	534,319	$	228,131		$	1,241,617	$	(1,369,471	)	$	2,192,527

CONDENSED CONSOLIDATING BALANCE SHEET

October 31, 2012

In thousands	Quiksilver, Inc.		QS Wholesale, Inc.		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	324	$	1,966	$	(1,831	)	$	41,364	$	—		$	41,823
Trade accounts receivable, net		—		80,522		101,423			251,798		—			433,743
Other receivables		20		2,767		3,391			26,640		—			32,818
Income taxes receivable		—		117		—			—		(117	)		—
Inventories		—		32,156		97,522			237,465		(22,397	)		344,746
Deferred income taxes		—		26,617		—			21,159		(21,408	)		26,368
Prepaid expenses and other current assets		2,277		4,463		5,085			14,546		—			26,371
Intercompany balances		—		218,896		—			—		(218,896	)		—
Total current assets		2,621		367,504		205,590			592,972		(262,818	)		905,869
Fixed assets, net		18,802		39,175		25,321			155,015		—			238,313
Intangible assets, net		3,228		45,547		2,199			88,475		—			139,449
Goodwill		—		103,880		8,336			160,951		—			273,167
Other assets		2,753		2,083		594			42,359		—			47,789
Deferred income taxes long-term		20,387		—		—			138,502		(45,236	)		113,653
Investment in subsidiaries		1,087,924		12,180		—			—		(1,100,104	)		—
Total assets	$	1,135,715	$	570,369	$	242,040		$	1,178,274	$	(1,408,158	)	$	1,718,240
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit	$	—	$	—	$	—		$	18,147	$	—		$	18,147
Accounts payable		6,995		39,542		55,813			101,222		—			203,572
Accrued liabilities		6,189		15,699		12,644			80,359		—			114,891
Current portion of long-term debt		—		8,594		—			10,053		—			18,647
Income taxes payable		—		—		—			1,476		(117	)		1,359
Deferred income taxes		20,902		—		506			—		(21,408	)		—
Intercompany balances		118,319		—		68,707			31,870		(218,896	)		—
Total current liabilities		152,405		63,835		137,670			243,127		(240,421	)		356,616
Long-term debt		400,000		60,700		—			260,475		—			721,175
Deferred income taxes long-term		—		42,951		2,285			—		(45,236	)		—
Other long-term liabilities		—		5,413		9,048			23,752		—			38,213
Total liabilities		552,405		172,899		149,003			527,354		(285,657	)		1,116,004
Stockholders’/invested equity:		583,310		397,470		93,037			631,994		(1,122,501	)		583,310
Non-controlling interest		—		—		—			18,926		—			18,926
Total liabilities and equity	$	1,135,715	$	570,369	$	242,040		$	1,178,274	$	(1,408,158	)	$	1,718,240

Condensed Consolidating Balance Sheet

July 31, 2013

In thousands	Quiksilver, Inc.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	1	$	280	$	62,102	$	—		$	62,383
Restricted cash		409,167		—		—		—			409,167
Trade accounts receivable, net		—		167,514		250,675		—			418,189
Other receivables		19		5,597		19,364		—			24,980
Income taxes receivable		422		255		2,102		—			2,779
Inventories		—		120,697		277,868		597			399,162
Deferred income taxes		—		26,111		22,877		(20,902	)		28,086
Prepaid expenses and other current assets		2,961		8,494		24,364		—			35,819
Intercompany balances		—		115,906		—		(115,906	)		—
Total current assets		412,570		444,854		659,352		(136,211	)		1,380,565
Fixed assets, net		20,261		56,659		151,077		—			227,997
Intangible assets, net		3,816		46,923		87,645		—			138,384
Goodwill		—		111,555		160,862		—			272,417
Other assets		8,373		6,959		39,229		—			54,561
Deferred income taxes long-term		20,387		—		143,452		(45,236	)		118,603
Investment in subsidiaries		1,092,524		6,863		—		(1,099,387	)		—
Total assets	$	1,557,931	$	673,813	$	1,241,617	$	(1,280,834	)	$	2,192,527
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	3,374	$	93,898	$	141,039	$	—		$	238,311
Accrued liabilities		6,320		22,700		77,981		—			107,001
Current portion of long-term debt		—		6,094		37,059		—			43,153
Debt to be redeemed		409,167		—		—		—			409,167
Deferred income taxes		20,902		—		—		(20,902	)		—
Intercompany balances		83,972		—		31,934		(115,906	)		—
Total current liabilities		523,735		122,692		288,013		(136,808	)		797,632
Long-term debt		500,776		9,000		297,318		—			807,094
Deferred income taxes long-term		—		45,236				(45,236	)		—
Other long-term liabilities		—		14,137		20,839		—			34,976
Total liabilities		1,024,511		191,065		606,170		(182,044	)		1,639,702
Stockholders’/invested equity:		533,420		482,748		616,042		(1,098,790	)		533,420
Non-controlling interest		—		—		19,405		—			19,405
Total liabilities and equity	$	1,557,931	$	673,813	$	1,241,617	$	(1,280,834	)	$	2,192,527

Condensed Consolidating Balance Sheet

October 31, 2012

In thousands	Quiksilver, Inc.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	324	$	135	$	41,364	$	—		$	41,823
Trade accounts receivable, net		—		181,945		251,798		—			433,743
Other receivables		20		6,158		26,640		—			32,818
Income taxes receivable		—		117		—		(117	)		—
Inventories		—		107,722		237,465		(441	)		344,746
Deferred income taxes		—		5,209		21,159		—			26,368
Prepaid expenses and other current assets		2,277		9,548		14,546		—			26,371
Intercompany balances		—		95,809		23,025		(118,834	)		—
Total current assets		2,621		406,643		615,997		(119,392	)		905,869
Fixed assets, net		18,802		64,496		155,015		—			238,313
Intangible assets, net		3,228		47,746		88,475		—			139,449
Goodwill		—		112,216		160,951		—			273,167
Other assets		2,753		2,677		42,359		—			47,789
Deferred income taxes long-term		—		—		137,203		(23,550	)		113,653
Investment in subsidiaries		1,087,924		5,028		—		(1,092,952	)		—
Total assets	$	1,115,328	$	638,806	$	1,200,000	$	(1,235,894	)	$	1,718,240
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit		—		—		18,147		—			18,147
Accounts payable		6,995		95,355		101,222		—			203,572
Accrued liabilities		6,189		28,343		80,359		—			114,891
Current portion of long-term debt		—		8,594		10,053		—			18,647
Income taxes payable		—		—		1,476		(117	)		1,359
Intercompany balances		118,834		—		—		(118,834	)		—
Total current liabilities		132,018		132,292		211,257		(118,951	)		356,616
Long-term debt		400,000		60,700		260,475		—			721,175
Deferred income taxes long-term		—		23,550		—		(23,550	)		—
Other long-term liabilities		—		25,241		12,972		—			38,213
Total liabilities		532,018		241,783		484,704		(142,501	)		1,116,004
Stockholders’/invested equity:		583,310		397,023		696,370		(1,093,393	)		583,310
Non-controlling interest		—		—		18,926		—			18,926
Total liabilities and equity	$	1,115,328	$	638,806	$	1,200,000	$	(1,235,894	)	$	1,718,240

CONDENSED CONSOLIDATING BALANCE SHEET

At October 31, 2012

In thousands	Quiksilver, Inc.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	324	$	135		$	41,364		$	—		$	41,823
Trade accounts receivable, net		—		181,945			251,798			—			433,743
Other receivables		20		6,158			26,640			—			32,818
Inventories		—		107,722			237,465			(441	)		344,746
Deferred income taxes		—		5,209			21,159			—			26,368
Prepaid expenses and other current assets		2,277		9,548			14,546			—			26,371
Total current assets		2,621		310,717			592,972			(441	)		905,869
Fixed assets, net		18,802		64,496			155,015			—			238,313
Intangible assets, net		3,228		47,746			88,475			—			139,449
Goodwill		—		112,216			160,951			—			273,167
Other assets		2,753		2,677			42,359			—			47,789
Deferred income taxes long-term		—		(23,550	)		137,203			—			113,653
Investment in subsidiaries		1,087,924		5,028			—			(1,092,952	)		—
Total assets	$	1,115,328	$	519,330		$	1,176,975		$	(1,093,393	)	$	1,718,240
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit	$	—	$	—		$	18,147		$	—		$	18,147
Accounts payable		6,995		95,355			101,222			—			203,572
Accrued liabilities		6,189		28,343			80,359			—			114,891
Current portion of long-term debt		—		8,594			10,053			—			18,647
Income taxes payable		—		(117	)		1,476			—			1,359
Intercompany balances		118,834		(95,809	)		(23,025	)		—			—
Total current liabilities		132,018		36,366			188,232			—			356,616
Long-term debt, net of current portion		400,000		60,700			260,475			—			721,175
Other long-term liabilities		—		25,241			12,972			—			38,213
Total liabilities		532,018		122,307			461,679			—			1,116,004
Stockholders’/invested equity		583,310		397,023			696,370			(1,093,393	)		583,310
Non-controlling interest		—		—			18,926			—			18,926
Total liabilities and equity	$	1,115,328	$	519,330		$	1,176,975		$	(1,093,393	)	$	1,718,240

CONDENSED CONSOLIDATING BALANCE SHEET

At October 31, 2011

In thousands	Quiksilver, Inc.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	17	$	1,331		$	108,405		$	—		$	109,753
Trade accounts receivable, net		—		150,782			246,307			—			397,089
Other receivables		122		5,918			17,150			—			23,190
Income taxes receivable		—		21,338			(17,073	)		—			4,265
Inventories		—		115,456			234,266			(1,965	)		347,757
Deferred income taxes		—		(1,182	)		33,990			—			32,808
Prepaid expenses and other current assets		2,378		8,525			14,526			—			25,429
Total current assets		2,517		302,168			637,571			(1,965	)		940,291
Fixed assets, net		17,602		64,943			155,562			—			238,107
Intangible assets, net		3,007		48,743			86,393			—			138,143
Goodwill		—		112,216			156,373			—			268,589
Other assets		4,457		3,936			47,421			—			55,814
Deferred income taxes long-term		—		(16,682	)		139,961			—			123,279
Investment in subsidiaries		1,084,745		8,929			—			(1,093,674	)		—
Total assets	$	1,112,328	$	524,253		$	1,223,281		$	(1,095,639	)	$	1,764,223
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit	$	—	$	—		$	18,335		$	—		$	18,335
Accounts payable		2,510		88,280			112,233			—			203,023
Accrued liabilities		6,673		30,088			96,183			—			132,944
Current portion of long-term debt		—		3,000			1,628			—			4,628
Intercompany balances		93,047		(34,611	)		(58,436	)		—			—
Total current liabilities		102,230		86,757			169,943			—			358,930
Long-term debt, net of current portion		400,000		36,542			288,181			—			724,723
Other long-term liabilities		—		41,219			16,729			—			57,948
Total liabilities		502,230		164,518			474,853			—			1,141,601
Stockholders’/invested equity		610,098		359,735			735,904			(1,095,639	)		610,098
Non-controlling interest		—		—			12,524			—			12,524
Total liabilities and equity	$	1,112,328	$	524,253		$	1,223,281		$	(1,095,639	)	$	1,764,223

Condensed Consolidating Balance Sheet

October 31, 2012

In thousands	Quiksilver, Inc.		QS Wholesale, Inc.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	324	$	1,966	$	(1,831	)	$	41,364	$	—		$	41,823
Trade accounts receivable, net		—		80,522		101,423			251,798		—			433,743
Other receivables		20		2,767		3,391			26,640		—			32,818
Income taxes receivable		—		117		—			—		(117	)		—
Inventories		—		32,156		97,522			237,465		(22,397	)		344,746
Deferred income taxes		—		26,617		—			21,159		(21,408	)		26,368
Prepaid expenses and other current assets		2,277		4,463		5,085			14,546		—			26,371
Intercompany balances				218,896		—			—		(218,896	)		—
Total current assets		2,621		367,504		205,590			592,972		(262,818	)		905,869
Fixed assets, net		18,802		39,175		25,321			155,015		—			238,313
Intangible assets, net		3,228		45,547		2,199			88,475		—			139,449
Goodwill		—		103,880		8,336			160,951		—			273,167
Other assets		2,753		2,083		594			42,359		—			47,789
Deferred income taxes long-term		20,387		—		—			138,502		(45,236	)		113,653
Investment in subsidiaries		1,087,924		12,180		—			—		(1,100,104	)		—
Total assets	$	1,135,715	$	570,369	$	242,040		$	1,178,274	$	(1,408,158	)	$	1,718,240
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit		—	$	—	$	—		$	18,147	$	—		$	18,147
Accounts payable		6,995		39,542		55,813			101,222		—			203,572
Accrued liabilities		6,189		15,699		12,644			80,359		—			114,891
Current portion of long-term debt		—		8,594		—			10,053		—			18,647
Income taxes payable				—		—			1,476		(117	)		1,359
Deferred income taxes		20,902		—		506			—		(21,408	)		—
Intercompany balances		118,319		—		68,707			31,870		(218,896	)		—
Total current liabilities		152,405		63,835		137,670			243,127		(240,421	)		356,616
Long-term debt		400,000		60,700		—			260,475		—			721,175
Deferred income taxes long-term		—		42,951		2,285			—		(45,236	)		—
Other long-term liabilities		—		5,413		9,048			23,752		—			38,213
Total liabilities		552,405		172,899		149,003			527,354		(285,657	)		1,116,004
Stockholders’/invested equity:		583,310		397,470		93,037			631,994		(1,122,501	)		583,310
Non-controlling interest		—		—		—			18,926		—			18,926
Total liabilities and equity	$	1,135,715	$	570,369	$	242,040		$	1,178,274	$	(1,408,158	)	$	1,718,240

Condensed Consolidating Balance Sheet

October 31, 2011

In thousands	Quiksilver, Inc.		QS Wholesale, Inc.		Guarantor Subsidiaries			Non- Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	17	$	4,972	$	(3,641	)	$	108,405	$	—		$	109,753
Trade accounts receivable, net		—		72,533		78,249			246,307		—			397,089
Other receivables		122		3,024		2,894			17,150		—			23,190
Income taxes receivable		—		390		—			3,875		—			4,265
Inventories		—		57,862		74,754			234,266		(19,125	)		347,757
Deferred income taxes		—		15,111		—			33,990		(16,293	)		32,808
Prepaid expenses and other current assets		2,378		3,507		5,018			14,526		—			25,429
Intercompany balances		—		166,707		—			—		(166,707	)		—
Total current assets		2,517		324,106		157,274			658,519		(202,125	)		940,291
Fixed assets, net		17,602		36,493		28,450			155,562		—			238,107
Intangible assets, net		3,007		46,510		2,233			86,393		—			138,143
Goodwill		—		103,880		8,336			156,373		—			268,589
Other assets		4,457		3,377		559			47,421		—			55,814
Deferred income taxes long-term		11,531		—		1,577			141,554		(31,383	)		123,279
Investment in subsidiaries		1,084,745		16,082		—			—		(1,100,827	)		—
Total assets	$	1,123,859	$	530,448	$	198,429		$	1,245,822	$	(1,334,335	)	$	1,764,223
LIABILITIES AND EQUITY
Current liabilities:
Lines of credit		—		—		—			18,335		—			18,335
Accounts payable		2,510		50,858		37,422			112,233		—			203,023
Accrued liabilities		6,673		12,666		17,422			96,183		—			132,944
Current portion of long-term debt		—		3,000		—			1,628		—			4,628
Income taxes payable		—		—		—			—		—			—
Deferred income taxes		11,998		—		4,295			—		(16,293	)		—
Intercompany balances		92,580		—		72,661			1,466		(166,707	)		—
Total current liabilities		113,761		66,524		131,800			229,845		(183,000	)		358,930
Long-term debt		400,000		36,542		—			288,181		—			724,723
Deferred income taxes long-term		—		31,383		—			—		(31,383	)		—
Other long-term liabilities		—		6,546		4,937			46,465		—			57,948
Total liabilities		513,761		140,995		136,737			564,491		(214,383	)		1,141,601
Stockholders’/invested equity:		610,098		389,453		61,692			668,807		(1,119,952	)		610,098
Non-controlling interest		—		—		—			12,524		—			12,524
Total liabilities and equity	$	1,123,859	$	530,448	$	198,429		$	1,245,822	$	(1,334,335	)	$	1,764,223

Condensed Consolidated Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended July 31, 2013

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(61,453	)	$	18,527		$	3,362		$	(133	)	$	(21,321	)	$	(61,018	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		1,651			8,710			4,454			23,203			—			38,018
Stock based compensation		16,195			—			—			—			—			16,195
Provision for doubtful accounts		—			(257	)		(1,287	)		6,055			—			4,511
Asset impairments		—			1,646			5,602			3,404			—			10,652
Equity in earnings		(4,599	)		(1,018	)		—			247			5,617			247
Non-cash interest expense		4,223			1,081			—			573			—			5,877
Deferred income taxes		—						—			(281	)		—			(281	)
Other adjustments to reconcile net (loss)/income		35			—			(124	)		733			—			644
Changes in operating assets and liabilities:
Trade accounts receivable		—			(4,000	)		19,975			(6,531	)		—			9,444
Inventories		—			(7,297	)		(5,544	)		(65,403	)		15,704			(62,540	)
Other operating assets and liabilities		6,867			341			(7,391	)		25,917			—			25,734
Net cash (used in)/provided by operating activities		(37,081	)		17,733			19,047			(12,216	)		—			(12,517	)
Cash flows from investing activities:
Changes in restricted cash		(409,167	)		—			—			—			—			(409,167	)
Capital expenditures		(5,327	)		(3,908	)		(7,251	)		(22,880	)		—			(39,366	)
Net cash used in investing activities		(414,494	)		(3,908	)		(7,251	)		(22,880	)		—			(448,533	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			—			6,157			—			6,157
Payments on lines of credit		—			—			—			(22,561	)		—			(22,561	)
Borrowings on long-term debt		500,776			59,829			—			86,271			—			646,876
Payments on long-term debt		—			(114,029	)		—			(28,092	)		—			(142,121	)
Payments of debt issuance costs		(8,775	)		(4,312	)		—			—			—			(13,087	)
Stock option exercises and employee stock purchases		6,165			—			—			—			—			6,165
Intercompany		(46,914	)		44,762			(11,726	)		13,878			—			—
Net cash provided by/(used in) financing activities		451,252			(13,750	)		(11,726	)		55,653			—			481,429
Effect of exchange rate changes on cash		—			—			—			181			—			181
Net (decrease)/increase in cash and cash equivalents		(323	)		75			70			20,738			—			20,560
Cash and cash equivalents, beginning of period		324			1,966			(1,831	)		41,364			—			41,823
Cash and cash equivalents, end of period	$	1		$	2,041		$	(1,761	)	$	62,102		$	—		$	62,383

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended July 31, 2012

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(15,115	)	$	12,462		$	14,824		$	42,964		$	(67,993	)	$	(12,858	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		1,598			8,420			4,918			24,501			—			39,437
Stock based compensation		17,272			—			—			—			—			17,272
Provision for doubtful accounts		—			(1,127	)		(1,403	)		4,131			—			1,601
Asset impairments		—			—			556			—			—			556
Equity in earnings		(49,284	)		2,190			—			(19	)		47,094			(19	)
Non-cash interest expense		1,111			1,190			—			513			—			2,814
Deferred income taxes		—						—			9,349			—			9,349
Other adjustments to reconcile net (loss)/income		(322	)		—			36			(2,008	)		—			(2,294	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(5,442	)		(14,215	)		(6,048	)		—			(25,705	)
Inventories		—			47,239			(50,334	)		(73,488	)		20,899			(55,684	)
Other operating assets and liabilities		4,623			(14,661	)		15,077			3,611			—			8,650
Net cash (used in)/provided by operating activities		(40,117	)		50,271			(30,541	)		3,506			—			(16,881	)
Cash flows from investing activities:
Capital expenditures		(2,861	)		(11,548	)		(7,188	)		(25,580	)		—			(47,177	)
Business acquisitions, net of cash acquired		—			—			—			(9,117	)		—			(9,117	)
Net cash used in investing activities		(2,861	)		(11,548	)		(7,188	)		(34,697	)		—			(56,294	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			—			11,377			—			11,377
Payments on lines of credit		—			—			—			(12,326	)		—			(12,326	)
Borrowings on long-term debt		—			80,500			—			46,534			—			127,034
Payments on long-term debt		—			(43,856	)		—			(13,657	)		—			(57,513	)
Stock option exercises and employee stock purchases		1,335			—			—			—			—			1,335
Transactions with non-controlling interest owners		—			(11,000	)		—			—			—			(11,000	)
Intercompany		41,641			(64,598	)		39,050			(16,093	)		—			—
Net cash provided by/(used in) financing activities		42,976			(38,954	)		39,050			15,835			—			58,907
Effect of exchange rate changes on cash		—			—			—			(13,582	)		—			(13,582	)
Net (decrease)/increase in cash and cash equivalents		(2	)		(231	)		1,321			(28,938	)		—			(27,850	)
Cash and cash equivalents, beginning of period		17			4,972			(3,641	)		108,405			—			109,753
Cash and cash equivalents, end of period	$	15		$	4,741		$	(2,320	)	$	79,467		$	—		$	81,903

Condensed Consolidating Statement of Cash Flows

Nine Months Ended July 31, 2013

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(61,453	)	$	5,584		$	(133	)	$	(5,016	)	$	(61,018	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		1,651			13,164			23,203			—			38,018
Stock based compensation		16,195			—			—			—			16,195
Provision for doubtful accounts		—			(1,544	)		6,055			—			4,511
Asset impairments		—			7,248			3,404			—			10,652
Equity in earnings		(4,599	)		(1,018	)		247			5,617			247
Non-cash interest expense		4,223			1,081			573			—			5,877
Deferred income taxes		—			—			(281	)		—			(281	)
Other adjustments to reconcile net (loss)/income		35			(124	)		733			—			644
Changes in operating assets and liabilities:
Trade accounts receivable		—			15,975			(6,531	)		—			9,444
Inventories		—			(12,841	)		(49,098	)		(601	)		(62,540	)
Other operating assets and liabilities		6,867			(7,050	)		25,917			—			25,734
Net cash (used in)/provided by operating activities		(37,081	)		20,475			4,089			—			(12,517	)
Cash flows from investing activities:
Changes in restricted cash		(409,167	)		—			—			—			(409,167	)
Capital expenditures		(5,327	)		(11,159	)		(22,880	)		—			(39,366	)
Net cash used in investing activities		(414,494	)		(11,159	)		(22,880	)		—			(448,533	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			6,157			—			6,157
Payments on lines of credit		—			—			(22,561	)		—			(22,561	)
Borrowings on long-term debt		500,776			59,829			86,271			—			646,876
Payments on long-term debt		—			(114,029	)		(28,092	)		—			(142,121	)
Payments of debt issuance costs		(8,775	)		(4,312	)		—			—			(13,087	)
Stock option exercises and employee stock purchases		6,165			—			—			—			6,165
Intercompany		(46,914	)		49,341			(2,427	)		—			—
Net cash provided by/(used in) financing activities		451,252			(9,171	)		39,348			—			481,429
Effect of exchange rate changes on cash		—			—			181			—			181
Net (decrease)/increase in cash and cash equivalents		(323	)		145			20,738			—			20,560
Cash and cash equivalents, beginning of period		324			135			41,364			—			41,823
Cash and cash equivalents, end of period	$	1		$	280		$	62,102		$	—		$	62,383

Condensed Consolidating Statement of Cash Flows

Nine Months Ended July 31, 2012

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(15,115	)	$	7,414		$	42,964		$	(48,121	)	$	(12,858	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		1,598			13,338			24,501			—			39,437
Stock based compensation		17,272			—			—			—			17,272
Provision for doubtful accounts		—			(2,530	)		4,131			—			1,601
Asset impairments		—			556			—			—			556
Equity in earnings		(49,284	)		2,190			(19	)		47,094			(19	)
Non-cash interest expense		1,111			1,190			513			—			2,814
Deferred income taxes		—			—			9,349			—			9,349
Other adjustments to reconcile net (loss)/income		(322	)		36			(2,008	)		—			(2,294	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(19,657	)		(6,048	)		—			(25,705	)
Inventories		—			(3,095	)		(53,616	)		1,027			(55,684	)
Other operating assets and liabilities		4,623			416			3,611			—			8,650
Net cash (used in)/provided by operating activities		(40,117	)		(142	)		23,378			—			(16,881	)
Cash flows from investing activities:
Capital expenditures		(2,861	)		(18,736	)		(25,580	)		—			(47,177	)
Business acquisitions, net of cash acquired		—			—			(9,117	)		—			(9,117	)
Net cash used in investing activities		(2,861	)		(18,736	)		(34,697	)		—			(56,294	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			11,377			—			11,377
Payments on lines of credit		—			—			(12,326	)		—			(12,326	)
Borrowings on long-term debt		—			80,500			46,534			—			127,034
Payments on long-term debt		—			(43,856	)		(13,657	)		—			(57,513	)
Stock option exercises and employee stock purchases		1,335			—			—			—			1,335
Transactions with non-controlling interest owners		—			(11,000	)		—			—			(11,000	)
Intercompany		41,641			(5,676	)		(35,965	)		—			—
Net cash provided by/(used in) financing activities		42,976			19,968			(4,037	)		—			58,907
Effect of exchange rate changes on cash		—			—			(13,582	)		—			(13,582	)
Net (decrease)/increase in cash and cash equivalents		(2	)		1,090			(28,938	)		—			(27,850	)
Cash and cash equivalents, beginning of period		17			1,331			108,405			—			109,753
Cash and cash equivalents, end of period	$	15		$	2,421		$	79,467		$	—		$	81,903

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended October 31, 2012

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(10,756	)	$	21,152		$	49,265		$	(69,404	)	$	(9,743	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and amortization		2,088			18,002			33,142			—			53,232
Stock-based compensation		22,552			—			—			—			22,552
Provision for doubtful accounts		—			(1,642	)		6,236			—			4,594
Asset impairments		—			5,162			2,072			—			7,234
Equity in earnings		(74,572	)		4,674			282			69,898			282
Non-cash interest expense		1,490			1,506			689			—			3,685
Deferred income taxes		—			474			(9,056	)		—			(8,582	)
Other adjustments to reconcile net (loss)/income		(443	)		36			(6,092	)		—			(6,499	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(29,521	)		(23,884	)		—			(53,405	)
Inventories		—			7,195			(11,679	)		(494	)		(4,978	)
Other operating assets and liabilities		10,255			2,233			(34,399	)		—			(21,911	)
Net cash (used in)/provided by operating activities		(49,386	)		29,271			6,576			—			(13,539	)
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		—			45			8,153			—			8,198
Capital expenditures		(4,388	)		(22,580	)		(39,113	)		—			(66,081	)
Business acquisitions, net of cash acquired		—			—			(9,117	)		—			(9,117	)
Net cash used in investing activities		(4,388	)		(22,535	)		(40,077	)		—			(67,000	)
Cash flows from financing activities:
Transactions with non-controlling interest owners		—			(11,000	)		—			—			(11,000	)
Borrowings on lines of credit		—			—			15,139			—			15,139
Payments on lines of credit		—			—			(12,641	)		—			(12,641	)
Borrowings on long-term debt		—			93,500			46,535			—			140,035
Payments on long-term debt		—			(70,800	)		(42,041	)		—			(112,841	)
Stock option exercises and employee stock purchases		2,241			—			—			—			2,241
Intercompany		51,840			(19,632	)		(32,208	)		—			—
Net cash provided by/(used in) financing activities		54,081			(7,932	)		(25,216	)		—			20,933
Effect of exchange rate changes on cash		—			—			(8,324	)		—			(8,324	)
Net increase/(decrease) in cash and cash equivalents		307			(1,196	)		(67,041	)		—			(67,930	)
Cash and cash equivalents, beginning of period		17			1,331			108,405			—			109,753
Cash and cash equivalents, end of period	$	324		$	135		$	41,364			—		$	41,823

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended October 31, 2011

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(21,258	)	$	18,304		$	39,479		$	(54,395	)	$	(17,870	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and amortization		1,735			20,445			33,079			—			55,259
Stock-based compensation		14,414			—			—			—			14,414
Provision for doubtful accounts		—			1,363			7,369			—			8,732
Asset impairments		—			3,399			82,974			—			86,373
Equity in earnings		(50,224	)		(994	)		(197	)		51,060			(355	)
Non-cash interest expense		1,387			1,808			15,917			—			19,112
Deferred income taxes		—			3,703			(31,951	)		—			(28,248	)
Other adjustments to reconcile net (loss)/income		72			481			(6,219	)		—			(5,666	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(22,106	)		(11,879	)		—			(33,985	)
Inventories		—			(23,322	)		(50,719	)		3,335			(70,706	)
Other operating assets and liabilities		1,090			(4,275	)		30,274			—			27,089
Net cash (used in)/provided by operating activities		(52,784	)		(1,194	)		108,127			—			54,149
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		—			15			12,531			—			12,546
Capital expenditures		(12,570	)		(34,624	)		(42,396	)		—			(89,590	)
Business acquisitions, net of cash acquired		—			(528	)		(5,050	)		—			(5,578	)
Net cash used in investing activities		(12,570	)		(35,137	)		(34,915	)		—			(82,622	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			30,070			—			30,070
Payments on lines of credit		—			—			(35,303	)		—			(35,303	)
Borrowings on long-term debt		—			44,500			270,830			—			315,330
Payments on long-term debt		—			(25,524	)		(259,152	)		—			(284,676	)
Payments of debt issuance costs		—			—			(6,391	)		—			(6,391	)
Stock option exercises and employee stock purchases		4,129			—			—			—			4,129
Intercompany		61,078			(20,486	)		(40,592	)		—			—
Net cash provided by/(used in) financing activities		65,207			(1,510	)		(40,538	)		—			23,159
Effect of exchange rate changes on cash		—			—			(5,526	)		—			(5,526	)
Net (decrease)/increase in cash and cash equivalents		(147	)		(37,841	)		27,148			—			(10,840	)
Cash and cash equivalents, beginning of period		164			39,172			81,257			—			120,593
Cash and cash equivalents, end of period	$	17		$	1,331		$	108,405			—		$	109,753

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended October 31, 2010

In thousands	Quiksilver, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(9,684	)	$	(33,406	)	$	90,314		$	(53,494	)	$	(6,270	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Income from discontinued operations		—			(1,485	)		(345	)		—			(1,830	)
Depreciation and amortization		1,519			21,494			30,848			—			53,861
Stock-based compensation		12,831			—			—			—			12,831
Provision for doubtful accounts		—			4,360			10,947			—			15,307
Equity in earnings		(50,399	)		(1,482	)		(524	)		51,881			(524	)
Asset impairments		—			8,403			3,254			—			11,657
Non-cash interest expense		1,292			42,740			12,663			—			56,695
Deferred taxes		—			(5,652	)		13,681			—			8,029
Other adjustments to reconcile net (loss)/income		(195	)		(1,455	)		(1,892	)		—			(3,542	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			15,735			24,111			—			39,846
Inventories		—			(5,075	)		7,967			1,613			4,505
Other operating assets and liabilities		16,733			7,960			(15,561	)		—			9,132
Cash (used in)/provided by operating activities of continuing operations		(27,903	)		52,137			175,463			—			199,697
Cash provided by operating activities of discontinued operations		—			1,507			2,278			—			3,785
Net cash (used in)/provided by operating activities		(27,903	)		53,644			177,741			—			203,482
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		34			4,519			109			—			4,662
Capital expenditures		(4,194	)		(10,730	)		(32,873	)		—			(47,797	)
Changes in restricted cash		—			—			52,706			—			52,706
Net cash (used in)/provided by investing activities		(4,160	)		(6,211	)		19,942			—			9,571
Cash flows from financing activities:
Borrowings on lines of credit		—			—			16,581			—			16,581
Payments on lines of credit		—			—			(27,021	)		—			(27,021	)
Borrowings on long-term debt		—			42,735			16,618			—			59,353
Payments on long-term debt		—			(51,489	)		(169,077	)		—			(220,566	)
Payments of debt and equity issuance costs		(7,750	)		—			(1,823	)		—			(9,573	)
Proceeds from stock option exercises		3,639			—			—			—			3,639
Transactions with non-controlling interests owners		—			(1,542	)		(3,632	)		—			(5,174	)
Intercompany		36,017			900			(36,917	)		—			—
Net cash provided by/(used in) financing activities		31,906			(9,396	)		(205,271	)		—			(182,761	)
Effect of exchange rate changes on cash		—			—			(9,215	)		—			(9,215	)
Net (decrease)/increase in cash and cash equivalents		(157	)		38,037			(16,803	)		—			21,077
Cash and cash equivalents, beginning of period		321			1,135			98,060			—			99,516
Cash and cash equivalents, end of period	$	164		$	39,172		$	81,257			—		$	120,593

Condensed Consolidating Statement of Cash Flows

Year Ended October 31, 2012

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(10,756	)	$	19,636		$	31,345		$	49,265		$	(99,233	)	$	(9,743	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		2,088			11,314			6,688			33,142			—			53,232
Stock based compensation		22,552						—			—			—			22,552
Provision for doubtful accounts		—			(763	)		(879	)		6,236			—			4,594
Asset impairments		—			11			5,151			2,072			—			7,234
Equity in earnings		(74,572	)		4,674						282			69,898			282
Non-cash interest expense		1,490			1,506			—			689			—			3,685
Deferred income taxes		—			62			412			(9,056	)		—			(8,582	)
Other adjustments to reconcile net (loss)/income		(443	)		(94	)		130			(6,092	)		—			(6,499	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(7,227	)		(22,294	)		(23,884	)		—			(53,405	)
Inventories		—			23,444			(46,078	)		(11,679	)		29,335			(4,978	)
Other operating assets and liabilities		5,918			(9,589	)		16,159			(34,399	)		—			(21,911	)
Net cash (used in)/provided by operating activities		(53,723	)		42,974			(9,366	)		6,576			—			(13,539	)
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		—			43			2			8,153			—			8,198
Capital expenditures		(4,388	)		(13,744	)		(8,836	)		(39,113	)		—			(66,081	)
Business acquisitions, net of cash acquired		—			—			—			(9,117	)		—			(9,117	)
Net cash used in investing activities		(4,388	)		(13,701	)		(8,834	)		(40,077	)		—			(67,000	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			—			15,139			—			15,139
Payments on lines of credit		—			—			—			(12,641	)		—			(12,641	)
Borrowings on long-term debt		—			93,500			—			46,535			—			140,035
Payments on long-term debt		—			(70,800	)		—			(42,041	)		—			(112,841	)
Stock option exercises and employee stock purchases		2,241			—			—			—			—			2,241
Transactions with non-controlling interest owners		—			(11,000	)		—			—			—			(11,000	)
Intercompany		56,177			(43,979	)		20,010			(32,208	)		—			—
Net cash provided by/(used in) financing activities		58,418			(32,279	)		20,010			(25,216	)		—			20,933
Effect of exchange rate changes on cash		—			—			—			(8,324	)		—			(8,324	)
Net increase/(decrease) in cash and cash equivalents		307			(3,006	)		1,810			(67,041	)		—			(67,930	)
Cash and cash equivalents, beginning of period		17			4,972			(3,641	)		108,405			—			109,753
Cash and cash equivalents, end of period	$	324		$	1,966		$	(1,831	)	$	41,364		$	—		$	41,823

Condensed Consolidating Statement of Cash Flows

Year Ended October 31, 2011

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(21,258	)	$	27,524		$	13,477		$	39,479		$	(77,092	)	$	(17,870	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Depreciation and Amortization		1,735			13,191			7,254			33,079			—			55,259
Stock based compensation		14,414			—			—			—			—			14,414
Provision for doubtful accounts		—			225			1,138			7,369			—			8,732
Asset impairments		—			1,778			1,621			82,974			—			86,373
Equity in earnings		(50,224	)		(994	)		—			(197	)		51,060			(355	)
Non-cash interest expense		1,387			1,808			—			15,917			—			19,112
Deferred income taxes		—			93			3,610			(31,951	)		—			(28,248	)
Other adjustments to reconcile net (loss)/income		72			351			130			(6,219	)		—			(5,666	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			(8,811	)		(13,295	)		(11,879	)		—			(33,985	)
Inventories		—			(49,448	)		3,429			(50,719	)		26,032			(70,706	)
Other operating assets and liabilities		(17,134	)		5,146			8,803			30,274			—			27,089
Net cash (used in)/provided by operating activities		(71,008	)		(9,137	)		26,167			108,127			—			54,149
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		—			5			10			12,531			—			12,546
Capital expenditures		(12,570	)		(21,726	)		(12,898	)		(42,396	)		—			(89,590	)
Business acquisitions, net of cash acquired		—			—			(528	)		(5,050	)		—			(5,578	)
Net cash used in investing activities		(12,570	)		(21,721	)		(13,416	)		(34,915	)		—			(82,622	)
Cash flows from financing activities:
Borrowings on lines of credit		—			—			—			30,070			—			30,070
Payments on lines of credit		—			—			—			(35,303	)		—			(35,303	)
Borrowings on long-term debt		—			44,500			—			270,830			—			315,330
Payments on long-term debt		—			(25,524	)		—			(259,152	)		—			(284,676	)
Payments of debt issuance costs		—			—			—			(6,391	)		—			(6,391	)
Stock option exercises and employee stock purchases		4,129			—			—			—			—			4,129
Intercompany		79,302			(21,853	)		(16,857	)		(40,592	)		—			—
Net cash provided by/(used in) financing activities		83,431			(2,877	)		(16,857	)		(40,538	)		—			23,159
Effect of exchange rate changes on cash		—			—			—			(5,526	)		—			(5,526	)
Net (decrease)/increase in cash and cash equivalents		(147	)		(33,735	)		(4,106	)		27,148			—			(10,840	)
Cash and cash equivalents, beginning of period		164			38,707			465			81,257			—			120,593
Cash and cash equivalents, end of period	$	17		$	4,972		$	(3,641	)	$	108,405		$	—		$	109,753

Condensed Consolidating Statement of Cash Flows

Year Ended October 31, 2010

In thousands	Quiksilver, Inc.			QS Wholesale, Inc.			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net (loss)/income	$	(9,684	)	$	(31,262	)	$	26,060		$	90,314		$	(81,698	)	$	(6,270	)
Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities:
Income from discontinued operations		—			—			(1,485	)		(345	)		—			(1,830	)
Depreciation and Amortization		1,519			12,134			9,360			30,848			—			53,861
Stock based compensation		12,831			—			—			—			—			12,831
Provision for doubtful accounts		—			2,982			1,378			10,947			—			15,307
Equity in earnings		(50,399	)		(1,482	)		—			(524	)		51,881			(524	)
Asset impairments		—			667			6,918			4,072			—			11,657
Non-Cash interest expense		1,292			42,740			—			12,663			—			56,695
Deferred taxes		—			(2,203	)		(3,449	)		13,681			—			8,029
Other adjustments to reconcile net (loss)/income		(195	)		(1,225	)		(230	)		(1,892	)		—			(3,542	)
Changes in operating assets and liabilities:
Trade accounts receivable		—			10,464			5,271			24,111			—			39,846
Inventories		—			(27,021	)		(6,258	)		7,967			29,817			4,505
Other operating assets and liabilities		8,350			7,975			8,368			(15,561	)		—			9,132
Cash (used in)/provided by operating activities of continuing operations		(36,286	)		13,769			45,933			176,281			—			199,697
Cash provided by operating activities of discontinued operations		—			—			1,507			2,278			—			3,785
Net cash (used in)/provided by operating activities		(36,286	)		13,769			47,440			178,559			—			203,482
Cash flows from investing activities:
Proceeds from the sale of properties and equipment		34			4,500			19			109			—			4,662
Capital expenditures		(4,194	)		(6,901	)		(3,829	)		(32,873	)		—			(47,797	)
Changes in restricted cash		—			—			—			52,706			—			52,706
Net cash (used in)/provided by investing activities		(4,160	)		(2,401	)		(3,810	)		19,942			—			9,571
Cash flows from financing activities:
Borrowings on lines of credit		—			—			—			16,581			—			16,581
Payments on lines of credit		—			—			—			(27,021	)		—			(27,021	)
Borrowings on long-term debt		—			42,735			—			16,618			—			59,353
Payments on long-term debt		—			(51,489	)		—			(169,077	)		—			(220,566	)
Payments of debt and equity issuance costs		(7,750	)		—			—			(1,823	)		—			(9,573	)
Proceeds from stock option exercises		3,639			—			—			—			—			3,639
Transactions with non-controlling interest owners		—			(1,542	)		—			(3,632	)		—			(5,174	)
Intercompany		44,400			36,553			(43,218	)		(37,735	)		—			—
Net cash provided by/(used in) financing activities		40,289			26,257			(43,218	)		(206,089	)		—			(182,761	)
Effect of exchange rate changes on cash		—			—			—			(9,215	)		—			(9,215	)
Net (decrease)/increase in cash and cash equivalents		(157	)		37,625			412			(16,803	)		—			21,077
Cash and cash equivalents, beginning of period		321			1,082			53			98,060			—			99,516
Cash and cash equivalents, end of period	$	164		$	38,707		$	465		$	81,257		$	—		$	120,593