Delaware | 001-13711 | 13-3429953 | ||
(State or other jurisdiction of incorporation) | Commission File No. | (I.R.S. Employer Identification No.) |
Item 9.01. | Financial Statements and Exhibits |
Exhibit No. | Exhibit Description | |
99.1 | Monthly Bankruptcy Administrator Form for the period ended July 31, 2015, filed with the United States Bankruptcy Court for the Northern District of Alabama. |
WALTER ENERGY, INC. | ||
Date: August 20, 2015 | By: | /s/ Earl H. Doppelt |
Earl H. Doppelt, Executive Vice President, | ||
General Counsel and Secretary |
Exhibit No. | Exhibit Description | |
99.1 | Monthly Bankruptcy Administrator Form for the period ended July 31, 2015, filed with the United States Bankruptcy Court for the Northern District of Alabama. |
UNITED STATES BANKRUPTCY COURT | |||||||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||||||
In re: | Chapter 11 | ||||||||
WALTER ENERGY, INC. et al.; | Case No: 15-02741-TOM11 | ||||||||
Debtors. | Jointly Administered | ||||||||
MONTHLY BANKRUPTCY ADMINISTRATOR FORM FOR THE PERIOD | |||||||||
ENDED JULY 31, 2015 | |||||||||
DEBTORS' ADDRESS: | 3000 Riverchase Galleria, Suite 1700 | ||||||||
Birmingham, AL 35244 | |||||||||
DEBTORS' ATTORNEYS: | Kelley A. Cornish, Esq. | ||||||||
Paul, Weiss, Rifkind, Wharton & Garrison, LLP | |||||||||
1285 Avenue of the Americas | |||||||||
New York, New York 10019 | |||||||||
and | |||||||||
Claudia R. Tobler, Esq. | |||||||||
Paul, Weiss, Rifkind, Wharton & Garrison, LLP | |||||||||
2001 K Street NW | |||||||||
Washington, DC 20006-1047 | |||||||||
REPORT PREPARER: | WALTER ENERGY, INC. et al. | ||||||||
I CERTIFY THAT THE ABOVE INFORMATION IS TRUE TO THE BEST OF MY KNOWLEDGE AND BELIEF. | |||||||||
DATE: August 20, 2015 | /s/ Brian M. Chopin | ||||||||
Brian M. Chopin, Acting Chief Accounting Officer & Corporate Controller | |||||||||
UNITED STATES BANKRUPTCY COURT | ||||
FOR THE NORTHERN DISTRICT OF ALABAMA | ||||
In re Walter Energy, Inc. et al. | ||||
Case No. (Jointly Administered) | 15-02741-TOM11 | |||
Reporting Period: | July 31, 2015 | |||
Federal Tax I.D. # | 13-3429953 | |||
CORPORATE BANKRUPTCY ADMINISTRATOR FORM | ||||
Operating reports are to be filed monthly, in duplicate, with the Bankruptcy Clerk's Office by the 15th of each month | ||||
REQUIRED DOCUMENTS | Form No. | Document Attached | Explanation Attached | |
Legal Entities and Notes to BAF | X | |||
Business Debtor's Affirmations | BA-01 | X | ||
Business Debtor's Cash Receipts & Disbursements | BA-02 (Part 1) | X | ||
Income Statement | BA-02 (Part 2) | X | ||
Business Debtor's Accounts Receivable | BA-02 (A) | X | ||
Business Debtor's Actual Disbursements | BA-02 (B) | X | ||
Business Debtor's Payments to Secured Creditors | BA-02 (C) | See Notes to BAF | ||
Business Debtor's Tax Payments | BA-02 (D) | See BA-01 | ||
Business Debtor's Bank Accounts | BA-03 (Part 1) | X | ||
Gross Payroll | BA-03 (Part 2) | X | ||
Inventory | BA-03 (Part 3) | X | ||
Payments Made to Pre-Petition Unsecured Creditors | BA-03 (Part 4) | See BA-01 | ||
Business Debtor's Post-Petition Accounts Payable | BA-03 (A) | X | ||
Balance Sheet | BA-04 | X |
UNITED STATES BANKRUPTCY COURT | |||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||
In re Walter Energy, Inc. et al. | |||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||
Reporting Period: | July 31, 2015 | ||
Federal Tax I.D. # | 13-3429953 | ||
LEGAL ENTITIES AND NOTES TO THE BANKRUPTCY ADMINISTRATOR FORM | |||
GENERAL: | |||
The report includes activity from the following Debtors and related case numbers: | |||
Debtor | Case Number | ||
Walter Energy, Inc. | 15-02741-TOM-11 | ||
Atlantic Development and Capital, LLC | 15-02747-TOM-11 | ||
Atlantic Leaseco, LLC | 15-02773-TOM-11 | ||
Blue Creek Coal Sales, Inc. | 15-02750-TOM-11 | ||
Blue Creek Energy, Inc. | 15-02752-TOM-11 | ||
J.W. Walter, Inc. | 15-02755-TOM-11 | ||
Jefferson Warrior Railroad Company, Inc. | 15-02759-TOM-11 | ||
Jim Walter Homes, LLC | 15-02762-TOM-11 | ||
Jim Walter Resources, Inc. | 15-02743-TOM-11 | ||
Maple Coal Co., LLC | 15-02764-TOM-11 | ||
Sloss-Sheffield Steel & Iron Company | 15-02766-TOM-11 | ||
SP Machine, Inc. | 15-02746-TOM-11 | ||
Taft Coal Sales & Associates, Inc. | 15-02751-TOM-11 | ||
Tuscaloosa Resources, Inc. | 15-02753-TOM-11 | ||
V Manufacturing Company | 15-02754-TOM-11 | ||
Walter Black Warrior Basin LLC | 15-02756-TOM-11 | ||
Walter Coke, Inc. | 15-02744-TOM-11 | ||
Walter Energy Holdings, LLC | 15-02758-TOM-11 | ||
Walter Exploration & Production LLC | 15-02757-TOM-11 | ||
Walter Home Improvement, Inc. | 15-02760-TOM-11 | ||
Walter Land Company | 15-02761-TOM-11 | ||
Walter Minerals, Inc. | 15-02763-TOM-11 | ||
Walter Natural Gas, LLC | 15-02765-TOM-11 | ||
GENERAL NOTES: | |||
The financial statements and supplemental information contained herein are preliminary, unaudited, and may not comply in all material respects with accounting principles generally accepted in the United States of America ("U.S. GAAP"). In addition, the financial statements and supplemental information contained herein represent condensed consolidated information. | |||
The unaudited consolidated financial statements have been derived from the books and records of Walter Energy, Inc. This information, however, has not been subject to certain procedures that would typically be applied to financial information in accordance with U.S. GAAP, and upon application of such procedures, the Debtors' believe that the financial information could be subject to changes, and these changes could be material. The information furnished in this report includes primarily normal recurring adjustments, but does not include all adjustments that would typically be made for financial statements in accordance with U.S. GAAP. | |||
The financial information contained herein is presented on a preliminary and unaudited basis and remains subject to future adjustment. | |||
The results of operations contained herein are not necessarily indicative of results which may be expected for any other period or for the full year and may not necessarily reflect the consolidated results of operations and financial position of the Debtors in the future. |
UNITED STATES BANKRUPTCY COURT | |||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||
In re Walter Energy, Inc. et al. | |||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||
Reporting Period: | July 31, 2015 | ||
Federal Tax I.D. # | 13-3429953 | ||
NOTES TO THE BANKRUPTCY ADMINISTRATOR FORM | |||
Notes to BA-02 (Part 1): | |||
The Debtors cash receipts & disbursements presented cover the weeks ended July 18, 2015, July 25, 2015 and August 1, 2015. | |||
Cash is received and disbursed as described in the Debtors' motion to approve their cash management system and is consistent with the Debtors' cash management practices. | |||
Cash receipts and disbursements related to transfers among the Debtor entities are not included in this schedule. | |||
The Debtors' age customer accounts receivables in the normal course of the Debtors' operations. Other receivables primarily represent receivables from vendors and other relationships. Historically, write-offs have been insignificant for these accounts and therefore, the Debtors do not monitor on an aging basis. | |||
The Debtors have not entered into agreements for debtor-in-possession (DIP) financing. | |||
Notes to BA-02 (Part 2): | |||
The income statement presented reflects the condensed consolidated statement of operations for Walter Energy, Inc. and consolidated subsidiaries. | |||
Notes to BA-02 (A): | |||
The Debtors accounts receivable aging is presented as of July 31, 2015. | |||
Notes to BA-02 (B): | |||
The Debtors actual disbursements presented cover the weeks ended July 18, 2015, July 25, 2015 and August 1, 2015. | |||
Notes to BA-02 (C): | |||
The Debtors have made no post-petition payments to Secured Creditors during the month ended July 31, 2015. | |||
Notes to BA-03 (Part 1): | |||
All amounts listed are the bank balances for the Debtors as of July 31, 2015. Bank statements are available upon request. | |||
The Debtors have not included any ordinary course intercompany transfers between affiliates. In the ordinary course of business, the Debtors are obligated to withhold amounts from the paychecks of employees in connection with various withholding requirements. The Debtors believe that these amounts do not constitute property of the estate and, accordingly, are not responsive to this question. | |||
Notes to BA-03 (Part 2): | |||
The payroll disbursements presented to insiders represents post-petition payments of salary, severance, bonus, car allowance, expense reimbursement, etc. for the month ending July 31, 2015. | |||
UNITED STATES BANKRUPTCY COURT | |||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||
In re Walter Energy, Inc. et al. | |||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||
Reporting Period: | July 31, 2015 | ||
Federal Tax I.D. # | 13-3429953 | ||
NOTES TO THE BANKRUPTCY ADMINISTRATOR FORM (CONTINUED) | |||
Notes to BA-03 (Part 3): | |||
The schedule of inventory presented reflects the balance for Walter Energy, Inc. and consolidated subsidiaries as of July 31, 2015. | |||
Notes to BA-03 (A): | |||
The Debtors post-petition accounts payable aging is presented as of July 31, 2015. | |||
Notes to BA-04: | |||
The balance sheet presented reflects the condensed consolidated balance sheet for Walter Energy, Inc. and consolidated subsidiaries. | |||
Liabilities subject to compromise represent undersecured or unsecured obligations that will be accounted for under the plan of reorganization. Generally, actions to enforce or otherwise affect payment of pre-petition liabilities are stayed. Accounting Standards Codification ("ASC") 852 requires pre-petition liabilities that are subject to compromise to be reported at the amounts expected to be allowed, even if they may be settled for lessor amounts. These liabilities represent the amounts expected to be allowed on known or potential claims to be resolved through the Chapter 11 process, and remain subject to further adjustments arising from negotiated settlements, actions of the Bankruptcy Court, rejection of executory contracts and unexpired leases, the determination as to the value of collateral securing the claims, proofs of claim, and other events. Liabilities subject to compromise also include certain items that may be assumed under the plan of reorganization, and as such, may be subsequently reclassified to liabilities not subject to compromise. | |||
The Bankruptcy Court has approved payment of certain pre-petition obligations necessary to maintain the operations of the Debtor's businesses and obligations associated with these matters are not classified as liabilities subject to compromise. | |||
Differences between liability amounts estimated by the Debtors and claims filed by creditors will be investigated and, if necessary, the Bankruptcy Court will make a final determination as to the amount of the allowable claim. The determination of how liabilities will ultimately be treated cannot be made until the Bankruptcy Court approves a plan of reorganization. The Debtors will continue to evaluate these liabilities throughout the Chapter 11 Cases and adjust amounts as necessary. Such adjustment may be material. In light of the expected number of creditors, the claims resolutions process may take considerable time to complete. Accordingly, the ultimate amount or treatment of such liablities is not determinable at this time. |
UNITED STATES BANKRUPTCY COURT | ||||
FOR THE NORTHERN DISTRICT OF ALABAMA | ||||
In re Walter Energy, Inc. et al. | ||||
Case No. (Jointly Administered) | 15-02741-TOM11 | |||
Reporting Period: | July 31, 2015 | |||
BA-01 | Federal Tax I.D. # | 13-3429953 | ||
BUSINESS DEBTOR'S AFFIRMATIONS | ||||
Must be completed each month. If the answer to any of the questions is “No”, provide a detailed explanation of each item. Attach additional sheets if necessary. | Yes | No | ||
1 | All undisputed post petition business taxes have been paid/deposited in a timely manner. | X | ||
1a | All undisputed post petition individual taxes have been paid/deposited in a timely manner. | N/A | ||
2 | Adequate insurance on all assets/property including fire, theft, liability, collision and casualty and workman's compensation (if applicable) is currently in full force and effect. | X | ||
3 | New books and records were opened and are being maintained daily. | X | ||
4 | Copies of all banks statements and reconciliations are attached. | See BA-03 (Part 1) | ||
5 | I have otherwise complied with all requirements of the Chapter 11 Operating Order. | X | ||
6 | All financial statements filed with the Bankruptcy Clerk's Office are prepared in accordance with generally accepted accounting principles. | See General Notes | ||
7 | All payments of pre-petition obligations were made pursuant to applicable Orders entered by the Bankruptcy Court. | X |
UNITED STATES BANKRUPTCY COURT | |||||||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||||||
In re Walter Energy, Inc. et al. | |||||||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||||||
Reporting Period: | July 31, 2015 | ||||||||
BA-02 (Part 1) | Federal Tax I.D. # | 13-3429953 | |||||||
BUSINESS DEBTORS CASH RECEIPTS & DISBURSEMENTS | |||||||||
Period Covered: Weeks Ended 7/18/15, 7/25/15 and 8/1/15 (000's) | |||||||||
A | RECEIPTS: | ||||||||
Sales/AR Receipts | $ | 45,758 | |||||||
Other Receipts | 1,424 | ||||||||
B | TOTAL RECEIPTS: | ||||||||
(Total of A) | $ | 47,182 | |||||||
C | BUSINESS DISBURSEMENTS | ||||||||
Payroll, Benefits & Pension | $ | 19,788 | |||||||
Leases, Taxes, Utilities, Fuel, Insurance | 1,619 | ||||||||
Freight & Royalties | 4,910 | ||||||||
Other Expenditures | 8,170 | ||||||||
D | TOTAL DISBURSEMENTS | $ | 34,487 | ||||||
(Total of C) | |||||||||
E | SURPLUS OR DEFICIT | $ | 12,695 | ||||||
(Total of B minus D) | |||||||||
UNITED STATES BANKRUPTCY COURT | |||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||
In re Walter Energy, Inc. et al. | |||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||
Reporting Period: | July 31, 2015 | ||||
BA-02 (Part 2) | Federal Tax I.D. # | 13-3429953 | |||
CONDENSED CONSOLIDATED INCOME STATEMENT | |||||
(000's) | |||||
For the Month Ended | |||||
July 31, 2015 | |||||
Revenues: | |||||
Sales | $ | 53,989 | |||
Miscellaneous income | 3,135 | ||||
Total revenues | 57,124 | ||||
Costs and expenses: | |||||
Cost of sales (exclusive of depreciation and depletion) | 61,060 | ||||
Depreciation and depletion | 11,915 | ||||
Selling, general and administrative | 7,760 | ||||
Other postretirement benefits | 4,111 | ||||
Restructuring charges | 4,084 | ||||
Total costs and expenses | 88,930 | ||||
Operating loss | (31,806 | ) | |||
Interest expense, net | (18,527 | ) | |||
Loss before reorganization items and income tax benefit | (50,333 | ) | |||
Reorganization items, net | (2,169 | ) | |||
Loss before income tax benefit | (52,502 | ) | |||
Income tax benefit | (1,430 | ) | |||
Net loss | $ | (51,072 | ) | ||
UNITED STATES BANKRUPTCY COURT | |||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||
In re Walter Energy, Inc. et al. | |||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||
Reporting Period: | July 31, 2015 | ||||
BA-02 (A) | Federal Tax I.D. # | 13-3429953 | |||
BUSINESS DEBTOR'S ACCOUNTS RECEIVABLE | |||||
(000's) | |||||
Accounts Receivable Aging | As of July 31, 2015 | ||||
0 - 29 days old | $ | 40,359 | |||
30 - 59 days old | 2,978 | ||||
60 - 89 days old | 16 | ||||
90 - 119 days old | — | ||||
120 + days old | 1,361 | ||||
Inactive | — | ||||
Less: unapplied/credits and unearned revenue | (5 | ) | |||
Total customer accounts receivables | 44,709 | ||||
Other receivables | 1,920 | ||||
Less: Reserves | (1,361 | ) | |||
Total Accounts Receivable (Debtors) | 45,268 | ||||
Total Accounts Receivable (Non-Debtors) | 14,394 | ||||
Total Accounts Receivable | $ | 59,662 | |||
UNITED STATES BANKRUPTCY COURT | ||||
FOR THE NORTHERN DISTRICT OF ALABAMA | ||||
In re Walter Energy, Inc. et al. | ||||
Case No. (Jointly Administered) | 15-02741-TOM11 | |||
Reporting Period: | July 31, 2015 | |||
BA-02 (B) | Federal Tax I.D. # | 13-3429953 | ||
BUSINESS DEBTOR'S ACTUAL DISBURSEMENTS | ||||
Period Covered: Weeks Ended 7/18/15, 7/25/15 and 8/1/15 (000's) | ||||
Debtor | Case Number | Total Disbursements during Period | ||
Walter Energy, Inc. | 15-02741-TOM-11 | $ | 11,995 | |
Atlantic Development and Capital, LLC | 15-02747-TOM-11 | 9 | ||
Atlantic Leaseco, LLC | 15-02773-TOM-11 | 54 | ||
Blue Creek Coal Sales, Inc. | 15-02750-TOM-11 | — | ||
Blue Creek Energy, Inc. | 15-02752-TOM-11 | — | ||
J.W. Walter, Inc. | 15-02755-TOM-11 | — | ||
Jefferson Warrior Railroad Company, Inc. | 15-02759-TOM-11 | — | ||
Jim Walter Homes, LLC | 15-02762-TOM-11 | — | ||
Jim Walter Resources, Inc. | 15-02743-TOM-11 | 18,681 | ||
Maple Coal Co., LLC | 15-02764-TOM-11 | 1,207 | ||
Sloss-Sheffield Steel & Iron Company | 15-02766-TOM-11 | — | ||
SP Machine, Inc. | 15-02746-TOM-11 | — | ||
Taft Coal Sales & Associates, Inc. | 15-02751-TOM-11 | 455 | ||
Tuscaloosa Resources, Inc. | 15-02753-TOM-11 | — | ||
V Manufacturing Company | 15-02754-TOM-11 | — | ||
Walter Black Warrior Basin LLC | 15-02756-TOM-11 | 333 | ||
Walter Coke, Inc. | 15-02744-TOM-11 | 1,681 | ||
Walter Energy Holdings, LLC | 15-02758-TOM-11 | — | ||
Walter Exploration & Production LLC | 15-02757-TOM-11 | — | ||
Walter Home Improvement, Inc. | 15-02760-TOM-11 | — | ||
Walter Land Company | 15-02761-TOM-11 | — | ||
Walter Minerals, Inc. | 15-02763-TOM-11 | 72 | ||
Walter Natural Gas, LLC | 15-02765-TOM-11 | — | ||
$ | 34,487 | |||
UNITED STATES BANKRUPTCY COURT | ||||||||
FOR THE NORTHERN DISTRICT OF ALABAMA | ||||||||
In re Walter Energy, Inc. et al. | ||||||||
Case No. (Jointly Administered) | 15-02741-TOM11 | |||||||
Reporting Period: | July 31, 2015 | |||||||
BA-03 (Part 1) | Federal Tax I.D. # | 13-3429953 | ||||||
Bank Account Information | ||||||||
(000's) | ||||||||
Company | Financial Institution | Account Number | Account Description | City | State/Province | Country | Balance in USD | |
Blue Creek Coal Sales, Inc. | Bank of America | 8159 | Depository Account | Richmond | VA | USA | — | |
Jim Walter Resources, Inc. | Bank of America | 1375 | Depository Account | Richmond | VA | USA | — | |
Taft Coal Sales & Associates, Inc. | Bank of America | 3478 | Depository Account | Richmond | VA | USA | — | |
Tuscaloosa Resources, Inc. | Bank of America | 2722 | Depository Account | Richmond | VA | USA | — | |
Walter Black Warrior Basin, LLC | Bank of America | 2801 | Depository Account | Richmond | VA | USA | — | |
Walter Coke, Inc. | Bank of America | 1388 | Depository Account | Richmond | VA | USA | — | |
Walter Energy, Inc. | Bank of America | 8039 | Concentration, Wire Transfer, and ACH Transfer Account | Richmond | VA | USA | 35,112 | |
Atlantic Development & Capital LLC | Branch Bank and Trust | 5246 | TPA Rockwood Casualty Disbursement Account | Wilson | NC | USA | — | |
Atlantic Development & Capital LLC | Branch Bank and Trust | 6897 | Concentration, Wire Transfer, and Disbursement Account | Wilson | NC | USA | 5,006 | |
Atlantic LeaseCo LLC | Branch Bank and Trust | 4989 | Operating Account | Wilson | NC | USA | — | |
Maple Coal Co. LLC | Branch Bank and Trust | 4970 | Operating Account | Wilson | NC | USA | — | |
Blue Creek Coal Sales, Inc. | JP Morgan Chase | 8663 | Depository Account | New York | NY | USA | 1 | |
Jim Walter Resources, Inc. | JP Morgan Chase | 8648 | Depository Account | New York | NY | USA | 13,769 | |
Walter Black Warrior Basin, LLC | JP Morgan Chase | 8671 | Depository Account | New York | NY | USA | 2,210 | |
Walter Coke, Inc. | JP Morgan Chase | 8655 | Depository Account | New York | NY | USA | 1 | |
Walter Energy, Inc. | JP Morgan Chase | 8630 | Concentration, Wire Transfer, and ACH Transfer Account | New York | NY | USA | 15,686 | |
Blue Creek Coal Sales, Inc. | Regions Bank | 9117 | Disbursement Account | Birmingham | AL | USA | — | |
Blue Creek Energy, Inc. | Regions Bank | 6085 | Operating Account | Birmingham | AL | USA | 100 | |
Jim Walter Homes LLC | Regions Bank | 9709 | Disbursement Account | Birmingham | AL | USA | — | |
Jim Walter Resources, Inc. | Regions Bank | 9652 | Accounts Payable Disbursement Account | Birmingham | AL | USA | — | |
Jim Walter Resources, Inc. | Regions Bank | 5682 | Payroll Account | Birmingham | AL | USA | — | |
Jim Walter Resources, Inc. | Regions Bank | 1275 | Workman's Compensation Disbursement Account | Birmingham | AL | USA | — | |
Taft Coal Sales & Associates, Inc. | Regions Bank | 6548 | Disbursement Account | Birmingham | AL | USA | — | |
Tuscaloosa Resources, Inc. | Regions Bank | 9660 | Disbursement Account | Birmingham | AL | USA | — | |
Walter Black Warrior Basin, LLC | Regions Bank | 9679 | Disbursement Account | Birmingham | AL | USA | — | |
Walter Coke, Inc. | Regions Bank | 9687 | Accounts Payable Disbursement Account | Birmingham | AL | USA | — | |
Walter Coke, Inc. | Regions Bank | 1711 | Payroll Account | Birmingham | AL | USA | — | |
Walter Coke, Inc. | Regions Bank | 1283 | Retiree Medical Claims Disbursement Account | Birmingham | AL | USA | — | |
Walter Coke, Inc. | Regions Bank | 9357 | Worker's Compensation Disbursement Account | Birmingham | AL | USA | — | |
Walter Energy, Inc. | Regions Bank | 7949 | Concentration, Wire Transfer, and ACH Transfer Account | Birmingham | AL | USA | 26,283 | |
Walter Energy, Inc. | Regions Bank | 9695 | Disbursement Account | Birmingham | AL | USA | — | |
Walter Energy, Inc. | Regions Bank | 3815 | Depository Account | Birmingham | AL | USA | — |
Walter Land Company | Regions Bank | 1321 | Operating Account | Birmingham | AL | USA | — | |
Walter Minerals | Regions Bank | 1348 | Operating Account | Birmingham | AL | USA | — | |
Walter Energy, Inc. | Scotiabank | 9712 | Operating Account | Toronto | Ontario | CA | 835 | |
Walter Energy, Inc. | Scotiabank | 2316 | Operating Account | Toronto | Ontario | CA | 11 | |
Walter Energy, Inc. | Bank of America | 8831 | Money Market Investment Account | Richmond | VA | USA | 8,563 | |
Walter Energy, Inc. | Comerica | 1822 | Trust Account and Investment Portal | Dallas | TX | USA | 100,299 | |
UNITED STATES BANKRUPTCY COURT | |||||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||||
In re Walter Energy, Inc. et al. | |||||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||||
Reporting Period: | July 31, 2015 | ||||||
BA-03 (Part 2) | Federal Tax I.D. # | 13-3429953 | |||||
Gross Payroll - Payments to Insiders | |||||||
(000's) | |||||||
Insiders | Title | Amount Paid During Period | Total Paid to Date | ||||
Scheller, Walt | Chief Executive Officer | $ | 35 | $ | 35 | ||
Harvey, Bill | Chief Financial Officer | 20 | 20 | ||||
Madden, Mike | Chief Marketing Officer | 17 | 17 | ||||
Doppelt, Earl | General Council | 19 | 19 | ||||
Donnelly, Rich | President | 16 | 16 | ||||
Stickel, Dan | President | 16 | 16 | ||||
Farrell, Carol | President | 11 | 11 | ||||
Leonard, Joseph | Board Member | 2 | 2 | ||||
Wagner, AJ | Board Member | 1 | 1 | ||||
Total Payments to Insiders | $ | 137 | $ | 137 | |||
UNITED STATES BANKRUPTCY COURT | |||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||
In re Walter Energy, Inc. et al. | |||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||
Reporting Period: | July 31, 2015 | ||||
BA-03 (Part 3) | Federal Tax I.D. # | 13-3429953 | |||
INVENTORY | |||||
(000's) | |||||
As of July 31, 2015 | |||||
Coal | $ | 116,362 | |||
Raw material, supplies and other | 54,538 | ||||
Total inventories | $ | 170,900 |
UNITED STATES BANKRUPTCY COURT | |||||
FOR THE NORTHERN DISTRICT OF ALABAMA | |||||
In re Walter Energy, Inc. et al. | |||||
Case No. (Jointly Administered) | 15-02741-TOM11 | ||||
Reporting Period: | July 31, 2015 | ||||
BA-03 (A) | Federal Tax I.D. # | 13-3429953 | |||
BUSINESS DEBTOR'S POST-PETITION ACCOUNTS PAYABLE | |||||
(000's) | |||||
Post-Petition Accounts Payable Aging | As of July 31, 2015 | ||||
0 - 29 days old | $ | 4,764 | |||
30 - 59 days old | — | ||||
60 - 89 days old | — | ||||
90 - 119 days old | — | ||||
120 + days old | — | ||||
Inactive | — | ||||
Less: Unapplied/credits | — | ||||
Total trade accounts payable (Debtors) | 4,764 | ||||
Other payables (Debtors) | 9,618 | ||||
Total accounts payable (Debtors) | 14,382 | ||||
Total accounts payable (Non-Debtors) | 3,724 | ||||
Total accounts payable | $ | 18,106 |
UNITED STATES BANKRUPTCY COURT | ||||
FOR THE NORTHERN DISTRICT OF ALABAMA | ||||
In re Walter Energy, Inc. et al. | ||||
Case No. (Jointly Administered) | 15-02741-TOM11 | |||
Reporting Period: | July 31, 2015 | |||
BA-04 | Federal Tax I.D. # | 13-3429953 | ||
CONDENSED CONSOLIDATED BALANCE SHEET | ||||
(000's) | ||||
As of | ||||
July 31, 2015 | ||||
ASSETS | ||||
Cash and cash equivalents | $ | 236,792 | ||
Trade receivables, net | 59,662 | |||
Other receivables | 129,159 | |||
Inventories | 170,900 | |||
Deferred income taxes | 16,247 | |||
Prepaid expenses | 52,409 | |||
Other current assets | 2,519 | |||
Total current assets | 667,688 | |||
Mineral interests, net | 446,376 | |||
Property, plant and equipment, net | 894,665 | |||
Other long-term assets | 74,691 | |||
Total assets | $ | 2,083,420 | ||
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||||
Liabilities not subject to compromise | ||||
Accounts payable | $ | 18,106 | ||
Accrued expenses | 53,284 | |||
Other current liabilities | 41,472 | |||
Current debt | 976 | |||
Total current liabilities | 113,838 | |||
Deferred income taxes | 69,338 | |||
Other long-term liabilities | 160,777 | |||
Total liabilities not subject to compromise | 343,953 | |||
Liabilities subject to compromise | 4,023,018 | |||
Total liabilities | 4,366,971 | |||
Stockholders' equity (deficit): | ||||
Preferred stock, $0.01 par value per share | — | |||
Common stock, $0.01 par value per share | 807 | |||
Capital in excess of par value | 1,679,845 | |||
Accumulated deficit | (3,755,830 | ) | ||
Accumulated other comprehensive loss | (208,373 | ) | ||
Total stockholders' equity (deficit) | (2,283,551 | ) | ||
Total liabilities and stockholders' equity (deficit) | $ | 2,083,420 |