Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2011

Supplemental Guarantor Information

CONSOLIDATING STATEMENTS OF EARNINGS

	THREE MONTHS ENDED JUNE 30, 2011
								NON-
				GUARANTOR				GUARANTOR			CONSOLIDATING			CONSOLIDATED
(in thousands)	TRG, INC.			SUBSIDIARIES				SUBSIDIARIES			ELIMINATIONS			TOTAL
REVENUES	$	110,010		$	107,896			$	7,317		$	-		$	225,223
EXPENSES	122,848			108,280				5,253			-			236,381
OTHER INCOME (LOSS)	445			-				-			-			445
(Loss) earnings before taxes	(12,393		)	(384			)	2,064			-			(10,713		)
Tax (benefit) expense	(343		)	235				108			-			-
Equity in net earnings of subsidiaries	1,337			-				-			(1,337		)	-
NET (LOSS) EARNINGS	$	(10,713	)	$	(619		)	$	1,956		$	(1,337	)	$	(10,713	)
								SIX MONTHS ENDED JUNE 30, 2011
REVENUES	$	203,245		$		183,246		$	13,661		$	-		$	400,152
EXPENSES	233,210			190,954				10,388			-			434,552
OTHER INCOME (LOSS)	1,753			-				-			-			1,753
(Loss) earnings before taxes	(28,212		)	(7,708			)	3,273			-			(32,647		)
Tax (benefit) expense	(2,072		)	(566			)	240			-			(2,398		)
Equity in net loss of subsidiaries	(4,109		)	-				-			4,109			-
NET (LOSS) EARNINGS	$	(30,249	)	$		(7,142	)	$	3,033		$	4,109		$	(30,249	)
								THREE MONTHS ENDED JUNE 30, 2010
REVENUES	$	199,763		$		162,574		$	10,936		$	-		$	373,273
EXPENSES	204,939			161,171				11,570			-			377,680
OTHER INCOME (LOSS)	(17,356		)	-				-			-			(17,356		)
(Loss) earnings before taxes	(22,532		)	1,403				(634		)	-			(21,763		)
Tax benefit	-			-				-			-			-
Equity in net earnings of subsidiaries	769			-				-			(769		)	-
NET EARNINGS (LOSS)	$	(21,763	)	$		1,403		$	(634	)	$	(769	)	$	(21,763	)
								SIX MONTHS ENDED JUNE 30, 2010
REVENUES	$	327,470		$		276,747		$	19,824		$	-		$	624,041
EXPENSES	343,344			280,333				19,986			-			643,663
OTHER INCOME (LOSS)	(16,438		)	-				-			-			(16,438		)
Loss before taxes	(32,312		)	(3,586			)	(162		)	-			(36,060		)
Tax benefit	-			-				-			-			-
Equity in net loss of subsidiaries	(3,748		)	-				-			3,748			-
NET LOSS	$	(36,060	)	$		(3,586	)	$	(162	)	$	3,748		$	(36,060	)

CONSOLIDATING BALANCE SHEETS

										JUNE 30, 2011
					NON-
			GUARANTOR		GUARANTOR		CONSOLIDATING			CONSOLIDATED
(in thousands)	TRG, INC.		SUBSIDIARIES		SUBSIDIARIES		ELIMINATIONS			TOTAL
ASSETS
Cash and cash equivalents	$	-	$	165,194	$	17,154	$	-		$	182,348
Marketable securities and restricted cash	396,512		-		34,591		-			431,103
Consolidated inventory owned	481,605		299,759		-		-			781,364
Consolidated inventory not owned	17,077		-		41,505		-			58,582
Total inventories	498,682		299,759		41,505		-			839,946
Investment in subsidiaries/intercompany receivables	489,253		-		-		(489,253		)	-
Other assets	57,262		37,774		24,318		-			119,354
TOTAL ASSETS	1,441,709		502,727		117,568		(489,253		)	1,572,751
LIABILITIES
Accounts payable and other accrued liabilities	120,605		51,362		34,486		-			206,453
Debt	848,812		3,689		-		-			852,501
Intercompany payables	-		241,352		5,906		(247,258		)	-
TOTAL LIABILITIES	969,417		296,403		40,392		(247,258		)	1,058,954
EQUITY
STOCKHOLDERS’ EQUITY	472,292		206,324		35,671		(241,995		)	472,292
NONCONTROLLING INTEREST	-		-		41,505		-			41,505
TOTAL LIABILITIES AND EQUITY	$	1,441,709	$	502,727	$	117,568	$	(489,253	)	$	1,572,751
										DECEMBER 31, 2010
ASSETS
Cash and cash equivalents	$	26,711	$	177,191	$	22,745	$	-		$	226,647
Marketable securities and restricted cash	478,888		-		33,695		-			512,583
Consolidated inventory owned	449,977		261,135		-		-			711,112
Consolidated inventory not owned	26,483		-		61,806		-			88,289
Total inventories	476,460		261,135		61,806		-			799,401
Investment in subsidiaries/intercompany receivables	464,209		-		-		(464,209		)	-
Other assets	61,168		35,696		17,208		-			114,072
TOTAL ASSETS	1,507,436		474,022		135,454		(464,209		)	1,652,703
LIABILITIES
Accounts payable and other accrued liabilities	131,674		44,337		35,152		-			211,163
Debt	875,906		3,972		-		-			879,878
Intercompany payables	-		212,246		7,649		(219,895		)	-
TOTAL LIABILITIES	1,007,580		260,555		42,801		(219,895		)	1,091,041
EQUITY
STOCKHOLDERS’ EQUITY	499,856		213,467		30,847		(244,314		)	499,856
NONCONTROLLING INTEREST	-		-		61,806		-			61,806
TOTAL LIABILITIES AND EQUITY	$	1,507,436	$	474,022	$	135,454	$	(464,209	)	$	1,652,703

CONSOLIDATING STATEMENTS OF CASH FLOWS

										SIX MONTHS ENDED JUNE 30, 2011
				GUARANTOR			NON-GUARANTOR			CONSOLIDATING			CONSOLIDATED
(in thousands)	TRG, INC.			SUBSIDIARIES			SUBSIDIARIES			ELIMINATIONS			TOTAL
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$	(30,249	)	$	(7,142	)	$	3,033		$	4,109		$	(30,249	)
Adjustments to reconcile net (loss) income to net cash used for operating activities	32,104			4,693			324			-			37,121
Changes in assets and liabilities	(47,312		)	(43,790		)	(6,278		)	(4,109		)	(101,489		)
Other operating activities, net	742			-			-			-			742
Net cash used for operating activities	(44,715		)	(46,239		)	(2,921		)	-			(93,875		)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment, net	(3,649		)	(2,286		)	(55		)	-			(5,990		)
Purchases of marketable securities, available-for-sale	(697,208		)	-			(2,927		)	-			(700,135		)
Proceeds from sales and maturities of marketable securities, available-for-sale	778,063			-			2,531			-			780,594
Other investing activities, net	-			-			30			-			30
Net cash provided by (used for) investing activities	77,206			(2,286		)	(421		)	-			74,499
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in senior debt and short-term borrowings	(28,160		)	(283		)	-			-			(28,443		)
Common stock dividends, repurchases and stock-based compensation	829			-			-			-			829
Decrease (increase) in restricted cash	3,197			-			(506		)	-			2,691
Intercompany balances	(35,068		)	36,811			(1,743		)	-			-
Net cash (used for) provided by financing activities	(59,202		)	36,528			(2,249		)	-			(24,923		)
Net decrease in cash and cash equivalents	(26,711		)	(11,997		)	(5,591		)	-			(44,299		)
Cash and cash equivalents at beginning of year	26,711			177,191			22,745			-			226,647
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	-		$	165,194		$	17,154		$	-		$	182,348
							SIX MONTHS ENDED JUNE 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(36,060	)	$	(3,586	)	$	(162	)	$	3,748		$	(36,060	)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities	54,953			5,580			546			-			61,079
Changes in assets and liabilities	63,785			(8,421		)	(4,361		)	(3,748		)	47,255
Other operating activities, net	(4,563		)	-			-			-			(4,563		)
Net cash provided by (used for) operating activities	78,115			(6,427		)	(3,977		)	-			67,711
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment, net	(3,223		)	(3,786		)	(7		)	-			(7,016		)
Purchases of marketable securities, available-for-sale	(697,950		)	(400,649		)	(2,064		)	-			(1,100,663		)
Proceeds from sales and maturities of marketable securities, available-for-sale	697,202			375,906			4,241			-			1,077,349
Other investing activities, net	-			-			17			-			17
Net cash (used for) provided by investing activities	(3,971		)	(28,529		)	2,187			-			(30,313		)
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in senior debt and short-term borrowings	(755		)	-			-			-			(755		)
Common stock dividends, repurchases and stock-based compensation	1,613			-			-			-			1,613
(Increase) decrease in restricted cash	(985		)	10,468			(331		)	-			9,152
Intercompany balances	(48,494		)	48,782			(288		)	-			-
Net cash (used for) provided by financing activities	(48,621		)	59,250			(619		)	-			10,010
Net increase (decrease) in cash and cash equivalents	25,523			24,294			(2,409		)	-			47,408
Cash and cash equivalents at beginning of year	1,932			259,040			24,227			-			285,199
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	27,455		$	283,334		$	21,818		$	-		$	332,607