| Guarantor Subsidiaries |
Guarantor Subsidiaries On March 5, 2010, Express, LLC and Express Finance (the “Subsidiary Issuers”), both 100% owned indirect subsidiaries of the Company, issued the Senior Notes. The Company (“Guarantor”) and certain of the Company’s indirect 100% owned subsidiaries (“Guarantor Subsidiaries”) have guaranteed, on a joint and several basis, the Company’s obligations under the Senior Notes. The guarantees are not full and unconditional because Guarantor Subsidiaries can be released and relieved of their obligations under certain customary circumstances contained in the indenture governing the Senior Notes. These circumstances include the following, so long as other applicable provisions of the indenture are adhered to: any sale or other disposition of all or substantially all of the assets of any Guarantor Subsidiary, any sale or other disposition of capital stock of any Guarantor Subsidiary, or designation of any restricted subsidiary that is a Guarantor Subsidiary as an unrestricted subsidiary. On August 26, 2012, Express, LLC contributed certain assets and liabilities to a newly created Guarantor Subsidiary. As a result, the current and prior period condensed consolidating financial information has been revised to retroactively give effect to the new structure in place as of August 26, 2012. The following consolidating schedules present the condensed financial information on a combined basis. EXPRESS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | February 2, 2013 | | Express, Inc. | | Subsidiary Issuers | | Guarantor Subsidiaries | | Other Subsidiaries | | Eliminations | | Consolidated Total | Assets | | | | | | | | | | | | Current assets | | | | | | | | | | | | Cash and cash equivalents | $ | 938 |
| | $ | 230,174 |
| | $ | 22,924 |
| | $ | 2,261 |
| | $ | — |
| | $ | 256,297 |
| Receivables, net | — |
| | 5,612 |
| | 3,147 |
| | 2,265 |
| | — |
| | 11,024 |
| Inventories | — |
| | 13,597 |
| | 198,094 |
| | 3,391 |
| | — |
| | 215,082 |
| Prepaid minimum rent | — |
| | 451 |
| | 23,697 |
| | 1,018 |
| | — |
| | 25,166 |
| Intercompany loan receivable | — |
| | 20,754 |
| | — |
| | — |
| | (20,754 | ) | | — |
| Intercompany receivable | — |
| | — |
| | 98,304 |
| | 5,783 |
| | (104,087 | ) | | — |
| Other | — |
| | 5,085 |
| | 3,162 |
| | 46 |
| | — |
| | 8,293 |
| Total current assets | 938 |
| | 275,673 |
| | 349,328 |
| | 14,764 |
| | (124,841 | ) | | 515,862 |
| Property and equipment, net | — |
| | 46,913 |
| | 215,829 |
| | 15,627 |
| | — |
| | 278,369 |
| Tradename/domain name | — |
| | 197,719 |
| | — |
| | — |
| | — |
| | 197,719 |
| Investment in subsidiary | 369,140 |
| | 371,084 |
| | — |
| | 363,356 |
| | (1,103,580 | ) | | — |
| Deferred tax assets | 738 |
| | 10,369 |
| | 5,701 |
| | — |
| | — |
| | 16,808 |
| Other assets | — |
| | 7,710 |
| | 2,727 |
| | 4 |
| | — |
| | 10,441 |
| Total assets | $ | 370,816 |
| | $ | 909,468 |
| | $ | 573,585 |
| | $ | 393,751 |
| | $ | (1,228,421 | ) | | $ | 1,019,199 |
| Liabilities and stockholders’ equity |
| |
| |
| |
| |
| | | Current liabilities |
| |
| |
| |
| |
| | | Accounts payable | $ | — |
| | $ | 173,395 |
| | $ | 1,132 |
| | $ | 1,598 |
| | $ | — |
| | $ | 176,125 |
| Deferred revenue | — |
| | 1,223 |
| | 26,507 |
| | 121 |
| | — |
| | 27,851 |
| Accrued bonus | — |
| | — |
| | 334 |
| | 2 |
| | — |
| | 336 |
| Accrued expenses | (346 | ) | | 34,490 |
| | 72,963 |
| | 1,357 |
| | — |
| | 108,464 |
| Intercompany payable | — |
| | 104,087 |
| | — |
| | — |
| | (104,087 | ) | | — |
| Intercompany loan payable | — |
| | — |
| | — |
| | 20,754 |
| | (20,754 | ) | | — |
| Total current liabilities | (346 | ) | | 313,195 |
| | 100,936 |
| | 23,832 |
| | (124,841 | ) | | 312,776 |
| Long-term debt | — |
| | 198,843 |
| | — |
| | — |
| | — |
| | 198,843 |
| Other long-term liabilities | — |
| | 34,074 |
| | 96,706 |
| | 5,638 |
| | — |
| | 136,418 |
| Total liabilities | (346 | ) | | 546,112 |
| | 197,642 |
| | 29,470 |
| | (124,841 | ) | | 648,037 |
| Commitments and Contingencies (Note 15) |
| |
| |
| |
| |
| |
| Total stockholders’ equity | 371,162 |
| | 363,356 |
| | 375,943 |
| | 364,281 |
| | (1,103,580 | ) | | 371,162 |
| Total liabilities and stockholders’ equity | $ | 370,816 |
| | $ | 909,468 |
| | $ | 573,585 |
| | $ | 393,751 |
| | $ | (1,228,421 | ) | | $ | 1,019,199 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | January 28, 2012 | | Express, Inc. | | Subsidiary Issuers | | Guarantor Subsidiaries | | Other Subsidiaries | | Eliminations | | Consolidated Total | Assets | | | | | | | | | | | | Current assets | | | | | | | | | | | | Cash and cash equivalents | $ | 1,575 |
| | $ | 121,273 |
| | $ | 27,964 |
| | $ | 1,550 |
| | $ | — |
| | $ | 152,362 |
| Receivables, net | — |
| | 1,917 |
| | 5,522 |
| | 1,588 |
| | — |
| | 9,027 |
| Inventories | — |
| | 22,681 |
| | 187,947 |
| | 2,447 |
| | — |
| | 213,075 |
| Prepaid minimum rent | — |
| | 219 |
| | 22,766 |
| | 476 |
| | — |
| | 23,461 |
| Intercompany loan receivable | — |
| | 12,684 |
| | — |
| | — |
| | (12,684 | ) | | — |
| Intercompany receivable | — |
| | — |
| | — |
| | 5,862 |
| | (5,862 | ) | | — |
| Other | — |
| | 20,188 |
| | (1,960 | ) | | 4 |
| | — |
| | 18,232 |
| Total current assets | 1,575 |
| | 178,962 |
| | 242,239 |
| | 11,927 |
| | (18,546 | ) | | 416,157 |
| Property and equipment, net | — |
| | 31,415 |
| | 187,286 |
| | 8,605 |
| | — |
| | 227,306 |
| Tradename/domain name | — |
| | 197,509 |
| | — |
| | — |
| | — |
| | 197,509 |
| Investment in subsidiary | 277,920 |
| | 300,747 |
| | — |
| | 272,135 |
| | (850,802 | ) | | — |
| Deferred tax assets | 852 |
| | 7,224 |
| | 4,386 |
| | — |
| | — |
| | 12,462 |
| Other assets | — |
| | 8,956 |
| | 3,926 |
| | 4 |
| | — |
| | 12,886 |
| Total assets | $ | 280,347 |
| | $ | 724,813 |
| | $ | 437,837 |
| | $ | 292,671 |
| | $ | (869,348 | ) | | $ | 866,320 |
| Liabilities and stockholders’ equity | | | | | | | | | | | | Current liabilities | | | | | | | | | | | | Accounts payable | $ | — |
| | $ | 131,767 |
| | $ | 1,294 |
| | $ | 618 |
| | $ | — |
| | $ | 133,679 |
| Deferred revenue | — |
| | 3,158 |
| | 24,476 |
| | 50 |
| | — |
| | 27,684 |
| Accrued bonus | — |
| | 13,486 |
| | 1,185 |
| | 18 |
| | — |
| | 14,689 |
| Accrued expenses | (800 | ) | | 63,899 |
| | 48,644 |
| | 1,539 |
| | — |
| | 113,282 |
| Accounts payable and accrued expenses—related parties | — |
| | 5,997 |
| | — |
| | — |
| | — |
| | 5,997 |
| Intercompany payable | — |
| | 5,862 |
| | — |
| | — |
| | (5,862 | ) | | — |
| Intercompany loan payable | — |
| | — |
| | — |
| | 12,684 |
| | (12,684 | ) | | — |
| Total current liabilities | (800 | ) | | 224,169 |
| | 75,599 |
| | 14,909 |
| | (18,546 | ) | | 295,331 |
| Long-term debt | — |
| | 198,539 |
| | — |
| | — |
| | — |
| | 198,539 |
| Other long-term liabilities | — |
| | 29,970 |
| | 58,189 |
| | 3,144 |
| | — |
| | 91,303 |
| Total liabilities | (800 | ) | | 452,678 |
| | 133,788 |
| | 18,053 |
| | (18,546 | ) | | 585,173 |
| Commitments and Contingencies (Note 15) |
| |
| |
| |
| |
| |
| Total stockholders’ equity | 281,147 |
| | 272,135 |
| | 304,049 |
| | 274,618 |
| | (850,802 | ) | | 281,147 |
| Total liabilities and stockholders’ equity | $ | 280,347 |
| | $ | 724,813 |
| | $ | 437,837 |
| | $ | 292,671 |
| | $ | (869,348 | ) | | $ | 866,320 |
|
XPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2012 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Net sales | $ | — |
| | $ | 1,302,433 |
| | $ | 2,123,918 |
| | $ | 19,514 |
| | $ | (1,297,796 | ) | | $ | 2,148,069 |
| Cost of goods sold, buying and occupancy costs | — |
| | 952,711 |
| | 1,737,406 |
| | 12,184 |
| | (1,296,871 | ) | | 1,405,430 |
| Gross profit | — |
| | 349,722 |
| | 386,512 |
| | 7,330 |
| | (925 | ) | | 742,639 |
| Selling, general, and administrative expenses | 697 |
| | 185,434 |
| | 297,595 |
| | 8,798 |
| | (925 | ) | | 491,599 |
| Other operating expense (income), net | — |
| | (41 | ) | | (482 | ) | | — |
| | — |
| | (523 | ) | Operating income (loss) | (697 | ) | | 164,329 |
| | 89,399 |
| | (1,468 | ) | | — |
| | 251,563 |
| Interest expense | — |
| | 19,555 |
| | 9 |
| | 41 |
| | (50 | ) | | 19,555 |
| Interest income | — |
| | (50 | ) | | — |
| | (3 | ) | | 50 |
| | (3 | ) | (Income) loss in subsidiary | (139,734 | ) | | (70,182 | ) | | — |
| | (139,735 | ) | | 349,651 |
| | — |
| Other expense (income), net | — |
| | — |
| | — |
| | 40 |
| | — |
| | 40 |
| Income (loss) before income taxes | 139,037 |
| | 215,006 |
| | 89,390 |
| | 138,189 |
| | (349,651 | ) | | 231,971 |
| Income tax expense (benefit) | (230 | ) | | 75,271 |
| | 17,662 |
| | 1 |
| | — |
| | 92,704 |
| Net income (loss) | $ | 139,267 |
| | $ | 139,735 |
| | $ | 71,728 |
| | $ | 138,188 |
| | $ | (349,651 | ) | | $ | 139,267 |
| Foreign currency translation | (13 | ) | | (13 | ) | | — |
| | (26 | ) | | 39 |
| | (13 | ) | Comprehensive income | $ | 139,254 |
| | $ | 139,722 |
| | $ | 71,728 |
| | $ | 138,162 |
| | $ | (349,612 | ) | | $ | 139,254 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2011 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Net sales | $ | — |
| | $ | 1,282,691 |
| | $ | 2,065,958 |
| | $ | 5,908 |
| | $ | (1,281,202 | ) | | $ | 2,073,355 |
| Cost of goods sold, buying and occupancy costs | — |
| | 893,726 |
| | 1,699,784 |
| | 6,136 |
| | (1,280,752 | ) | | 1,318,894 |
| Gross profit | — |
| | 388,965 |
| | 366,174 |
| | (228 | ) | | (450 | ) | | 754,461 |
| Selling, general, and administrative expenses | 1,689 |
| | 183,780 |
| | 294,875 |
| | 3,929 |
| | (450 | ) | | 483,823 |
| Other operating expense (income), net | — |
| | — |
| | (308 | ) | | — |
| | — |
| | (308 | ) | Operating income (loss) | (1,689 | ) | | 205,185 |
| | 71,607 |
| | (4,157 | ) | | — |
| | 270,946 |
| Interest expense | — |
| | 35,804 |
| | — |
| | 115 |
| | (115 | ) | | 35,804 |
| Interest income | — |
| | (127 | ) | | — |
| | — |
| | 115 |
| | (12 | ) | (Income) loss in subsidiary | (141,474 | ) | | (38,469 | ) | | — |
| | (141,192 | ) | | 321,135 |
| | — |
| Other expense (income), net | — |
| | — |
| | — |
| | (411 | ) | | — |
| | (411 | ) | Income (loss) before income taxes | 139,785 |
| | 207,977 |
| | 71,607 |
| | 137,331 |
| | (321,135 | ) | | 235,565 |
| Income tax expense (benefit) | (912 | ) | | 66,785 |
| | 29,277 |
| | (282 | ) | | — |
| | 94,868 |
| Net income (loss) | $ | 140,697 |
| | $ | 141,192 |
| | $ | 42,330 |
| | $ | 137,613 |
| | $ | (321,135 | ) | | $ | 140,697 |
| Foreign currency translation | (7 | ) | | (7 | ) | | — |
| | (14 | ) | | 21 |
| | (7 | ) | Comprehensive income | $ | 140,690 |
| | $ | 141,185 |
| | $ | 42,330 |
| | $ | 137,599 |
| | $ | (321,114 | ) | | $ | 140,690 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME AND COMPREHENSIVE INCOME (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2010 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Net sales | $ | — |
| | $ | 1,118,503 |
| | $ | 1,904,684 |
| | $ | — |
| | $ | (1,117,373 | ) | | $ | 1,905,814 |
| Cost of goods sold, buying and occupancy costs | — |
| | 776,840 |
| | 1,567,573 |
| | — |
| | (1,116,923 | ) | | 1,227,490 |
| Gross profit | — |
| | 341,663 |
| | 337,111 |
| | — |
| | (450 | ) | | 678,324 |
| Selling, general, and administrative expenses | 2,984 |
| | 169,753 |
| | 288,809 |
| | (23 | ) | | (450 | ) | | 461,073 |
| Other operating expense (income), net | — |
| | 16,904 |
| | 1,093 |
| | 3 |
| | — |
| | 18,000 |
| Operating income (loss) | (2,984 | ) | | 155,006 |
| | 47,209 |
| | 20 |
| | — |
| | 199,251 |
| Interest expense | — |
| | 30,510 |
| | — |
| | 28,983 |
| | — |
| | 59,493 |
| Interest income | — |
| | (16 | ) | | — |
| | — |
| | — |
| | (16 | ) | (Income) loss in subsidiary | (129,939 | ) | | (39,797 | ) | | — |
| | (153,742 | ) | | 323,478 |
| | — |
| Other expense (income), net | — |
| | (1,968 | ) | | — |
| | — |
| | — |
| | (1,968 | ) | Income (loss) before income taxes | 126,955 |
| | 166,277 |
| | 47,209 |
| | 124,779 |
| | (323,478 | ) | | 141,742 |
| Income tax expense (benefit) | (433 | ) | | 12,535 |
| | 7,412 |
| | (5,160 | ) | | — |
| | 14,354 |
| Net income (loss) | $ | 127,388 |
| | $ | 153,742 |
| | $ | 39,797 |
| | $ | 129,939 |
| | $ | (323,478 | ) | | $ | 127,388 |
| Foreign currency translation | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive income | $ | 127,388 |
| | $ | 153,742 |
| | $ | 39,797 |
| | $ | 129,939 |
| | $ | (323,478 | ) | | $ | 127,388 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2012 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Operating Activities | | | | | | | | | | | | Net cash provided by (used in) operating activities | $ | 81 |
| | $ | 207,148 |
| | $ | 61,440 |
| | $ | 695 |
| | $ | — |
| | $ | 269,364 |
| Investing Activities | | | | | | | | | | | | Capital expenditures | — |
| | (25,134 | ) | | (66,480 | ) | | (8,060 | ) | | — |
| | (99,674 | ) | Purchase of intangible assets | — |
| | (210 | ) | | — |
| | — |
| | — |
| | (210 | ) | Distributions received | 65,200 |
| | — |
| | — |
| | 65,200 |
| | (130,400 | ) | | — |
| Net cash provided by (used in) investing activities | 65,200 |
| | (25,344 | ) | | (66,480 | ) | | 57,140 |
| | (130,400 | ) | | (99,884 | ) | Financing Activities | | | | | | | | | | | | Payments on capital lease obligation | — |
| | (55 | ) | | — |
| | — |
| | — |
| | (55 | ) | Excess tax benefit from share-based compensation | — |
| | 422 |
| | — |
| | — |
| | — |
| | 422 |
| Proceeds from share-based compensation | 623 |
| | — |
| | — |
| | — |
| | — |
| | 623 |
| Repayment of intercompany loan | — |
| | 3,982 |
| | — |
| | (3,982 | ) | | — |
| | — |
| Borrowings under intercompany loan | — |
| | (12,052 | ) | | — |
| | 12,052 |
| | — |
| | — |
| Distributions paid | — |
| | (65,200 | ) | | — |
| | (65,200 | ) | | 130,400 |
| | — |
| Repurchase of common stock | (66,541 | ) | | — |
| | — |
| | — |
| | — |
| | (66,541 | ) | Net cash provided by (used in) financing activities | (65,918 | ) | | (72,903 | ) | | — |
| | (57,130 | ) | | 130,400 |
| | (65,551 | ) | | | | | | | | | | | | | Effect of exchange rate on cash | — |
| | — |
| | — |
| | 6 |
| | — |
| | 6 |
| | | | | | | | | | | | | Net increase (decrease) in cash and cash equivalents | (637 | ) | | 108,901 |
| | (5,040 | ) | | 711 |
| | — |
| | 103,935 |
| Cash and cash equivalents, beginning of period | 1,575 |
| | 121,273 |
| | 27,964 |
| | 1,550 |
| | — |
| | 152,362 |
| Cash and cash equivalents, end of period | $ | 938 |
| | $ | 230,174 |
| | $ | 22,924 |
| | $ | 2,261 |
| | $ | — |
| | $ | 256,297 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2011 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Operating Activities | | | | | | | | | | | | Net cash provided by (used in) operating activities | $ | (381 | ) | | $ | 159,803 |
| | $ | 55,436 |
| | $ | (2,249 | ) | | $ | — |
| | $ | 212,609 |
| Investing Activities | | | | | | | | | | | | Capital expenditures | — |
| | (18,182 | ) | | (50,107 | ) | | (8,887 | ) | | — |
| | (77,176 | ) | Purchase of intangible assets | — |
| | (60 | ) | | — |
| | — |
| | — |
| | (60 | ) | Distributions received | 103 |
| | — |
| | — |
| | 103 |
| | (206 | ) | | — |
| Net cash provided by (used in) investing activities | 103 |
| | (18,242 | ) | | (50,107 | ) | | (8,784 | ) | | (206 | ) | | (77,236 | ) | Financing Activities | | | | | | | | | | | | Repayments of long-term debt arrangements | — |
| | (169,775 | ) | | — |
| | — |
| | — |
| | (169,775 | ) | Costs incurred in connection with debt arrangements and Senior Notes | — |
| | (1,192 | ) | | — |
| | — |
| | — |
| | (1,192 | ) | Payments on capital lease obligation | — |
| | (14 | ) | | — |
| | — |
| | — |
| | (14 | ) | Proceeds from share-based compensation | 309 |
| | — |
| | — |
| | — |
| | — |
| | 309 |
| Borrowings under intercompany loan | — |
| | (12,684 | ) | | — |
| | 12,684 |
| | — |
| | — |
| Distributions paid | — |
| | (103 | ) | | — |
| | (103 | ) | | 206 |
| | — |
| Repurchase of common stock | (103 | ) | | — |
| | — |
| | — |
| | — |
| | (103 | ) | Net cash provided by (used in) financing activities | 206 |
| | (183,768 | ) | | — |
| | 12,581 |
| | 206 |
| | (170,775 | ) | | | | | | | | | | | | | Effect of exchange rate on cash | — |
| | — |
| | — |
| | 2 |
| | — |
| | 2 |
| | | | | | | | | | | | | Net increase (decrease) in cash and cash equivalents | (72 | ) | | (42,207 | ) | | 5,329 |
| | 1,550 |
| | — |
| | (35,400 | ) | Cash and cash equivalents, beginning of period | 1,647 |
| | 163,480 |
| | 22,635 |
| | — |
| | — |
| | 187,762 |
| Cash and cash equivalents, end of period | $ | 1,575 |
| | $ | 121,273 |
| | $ | 27,964 |
| | $ | 1,550 |
| | $ | — |
| | $ | 152,362 |
|
EXPRESS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (Amounts in thousands)
| | | | | | | | | | | | | | | | | | | | | | | | | | 2010 | | | | Subsidiary | | Guarantor | | Other | | | | Consolidated | | Express, Inc. | | Issuers | | Subsidiaries | | Subsidiaries | | Eliminations | | Total | Operating Activities | | | | | | | | | | | | Net cash provided by (used in) operating activities | $ | (3,330 | ) | | $ | 198,522 |
| | $ | 60,261 |
| | $ | (35,495 | ) | | $ | — |
| | $ | 219,958 |
| Investing Activities | | | | | | | | | | | | Capital expenditures | — |
| | (100 | ) | | (54,743 | ) | | — |
| | — |
| | (54,843 | ) | Investment in subsidiary | (170,535 | ) | | — |
| | — |
| | (5,633 | ) | | 176,168 |
| | — |
| Distributions received | 319,801 |
| | — |
| | — |
| | 490,954 |
| | (810,755 | ) | | — |
| Net cash provided by (used in) investing activities | 149,266 |
| | (100 | ) | | (54,743 | ) | | 485,321 |
| | (634,587 | ) | | (54,843 | ) | Financing Activities | | | | | | | | | | | | Borrowing under Senior Notes | — |
| | 246,498 |
| | — |
| | — |
| | — |
| | 246,498 |
| Net proceeds from equity offering | 166,898 |
| | — |
| | — |
| | — |
| | — |
| | 166,898 |
| Repayments of long-term debt arrangements | — |
| | (1,563 | ) | | — |
| | (300,000 | ) | | — |
| | (301,563 | ) | Costs incurred in connection with debt arrangements and Senior Notes | — |
| | (11,651 | ) | | — |
| | (560 | ) | | — |
| | (12,211 | ) | Costs incurred in connection with equity offering | (6,498 | ) | | — |
| | — |
| | — |
| | — |
| | (6,498 | ) | Equity contributions | 5,633 |
| | — |
| | — |
| | 170,535 |
| | (176,168 | ) | | — |
| Repayment of notes receivable | — |
| | 5,633 |
| | — |
| | — |
| | — |
| | 5,633 |
| Distributions | (261,000 | ) | | (441,440 | ) | | — |
| | (270,287 | ) | | 711,727 |
| | (261,000 | ) | Dividends | (49,514 | ) | | (49,514 | ) | | — |
| | (49,514 | ) | | 99,028 |
| | (49,514 | ) | Net cash provided by (used in) financing activities | (144,481 | ) | | (252,037 | ) | | — |
| | (449,826 | ) | | 634,587 |
| | (211,757 | ) | | | | | | | | | | | | | Net increase (decrease) in cash and cash equivalents | 1,455 |
| | (53,615 | ) | | 5,518 |
| | — |
| | — |
| | (46,642 | ) | Cash and cash equivalents, beginning of period | 192 |
| | 217,095 |
| | 17,117 |
| | — |
| | — |
| | 234,404 |
| Cash and cash equivalents, end of period | $ | 1,647 |
| | $ | 163,480 |
| | $ | 22,635 |
| | $ | — |
| | $ | — |
| | $ | 187,762 |
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