PLY GEM HOLDINGS INC - 10-K filing on 2017-03-10

GUARANTOR/NON-GUARANTOR FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2016

GUARANTOR / NON GUARANTOR FINANCIAL INFORMATION [Abstract]

GUARANTOR / NON-GUARANTOR FINANCIAL INFORMATION

GUARANTOR/NON-GUARANTOR

The 6.50% Senior Notes were issued by our direct 100% owned subsidiary, Ply Gem Industries, and are fully and unconditionally guaranteed on a joint and several basis by the Company and certain of Ply Gem Industries’ 100% owned subsidiaries. Ply Gem Industries is a 100% owned subsidiary of Ply Gem Holdings. Accordingly, the following guarantor and non-guarantor information is presented as of December 31, 2016 and December 31, 2015, and for the years ended December 31, 2016, 2015, and 2014. The non-guarantor information presented represents our Canadian subsidiaries: Gienow and Mitten.



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
For the year ended December 31, 2016
	Guarantor		Issuer						Non-
	Ply Gem		Ply Gem			Guarantor			Guarantor			Consolidating
(Amounts in thousands)	Holdings, Inc.		Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Net sales	$	—	$	—		$	1,713,112		$	198,732		$	—		$	1,911,844
Cost of products sold	—		—			1,298,281			151,289			—			1,449,570
Gross profit	—		—			414,831			47,443			—			462,274
Operating expenses:
Selling, general and
administrative expenses	—		32,141			190,444			46,129			—			268,714
Intercompany administrative
charges	—		—			32,487			5,180			(37,667		)	—
Amortization of intangible assets	—		—			20,707			4,357			—			25,064
Total operating expenses	—		32,141			243,638			55,666			(37,667		)	293,778
Operating earnings (loss)	—		(32,141		)	171,193			(8,223		)	37,667			168,496
Foreign currency gain	—		—			—			299			—			299
Intercompany interest	—		63,716			(59,859		)	(3,857		)	—			—
Interest expense	—		(72,716		)	—			(2		)	—			(72,718		)
Interest income	—		6			13			17			—			36
Tax receivable agreement liability adjustment	—		(60,874		)	—			—			—			(60,874		)
Loss on modification or
extinguishment of debt	—		(11,747		)	—			—			—			(11,747		)
Intercompany administrative income	—		37,667			—			—			(37,667		)	—
Income (loss) before equity in
subsidiaries' income (loss)	—		(76,089		)	111,347			(11,766		)	—			23,492
Equity in subsidiaries' income (loss)	75,487		151,576			—			—			(227,063		)	—
Income (loss) before
benefit for income taxes	75,487		75,487			111,347			(11,766		)	(227,063		)	23,492
Benefit for income taxes	—		—			(50,995		)	(1,000		)	—			(51,995		)
Net income (loss)	$	75,487	$	75,487		$	162,342		$	(10,766	)	$	(227,063	)	$	75,487

Other comprehensive income (loss):
Foreign currency translation adjustments	—		—			—			2,950			—			2,950
Unrealized gain on derivative instruments	—		—			—			29			—			29
Minimum pension liability for
actuarial gain	—		—			295			—			—			295
Total comprehensive income (loss)	$	75,487	$	75,487		$	162,637		$	(7,787	)	$	(227,063	)	$	78,761



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
For the year ended December 31, 2015
	Guarantor		Issuer						Non-
	Ply Gem		Ply Gem			Guarantor			Guarantor			Consolidating
(Amounts in thousands)	Holdings, Inc.		Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Net sales	$	—	$	—		$	1,616,407		$	223,319		$	—		$	1,839,726
Cost of products sold	—		—			1,249,887			170,127			—			1,420,014
Gross profit	—		—			366,520			53,192			—			419,712
Operating expenses:
Selling, general and
administrative expenses	—		30,317			189,477			52,080			—			271,874
Intercompany administrative
charges	—		—			28,704			5,943			(34,647		)	—
Amortization of intangible assets	—		—			20,737			4,569			—			25,306
Total operating expenses	—		30,317			238,918			62,592			(34,647		)	297,180
Operating earnings (loss)	—		(30,317		)	127,602			(9,400		)	34,647			122,532
Foreign currency loss	—		—			—			(3,166		)	—			(3,166		)
Intercompany interest	—		63,391			(59,641		)	(3,750		)	—			—
Interest expense	—		(74,863		)	(4		)	(9		)	—			(74,876		)
Interest income	—		5			28			24			—			57
Tax receivable agreement liability adjustment	—		(12,947		)	—			—			—			(12,947		)
Intercompany administrative income	—		34,647			—			—			(34,647		)	—
Income (loss) before equity in
subsidiaries' income (loss)	—		(20,084		)	67,985			(16,301		)	—			31,600
Equity in subsidiaries' income (loss)	32,288		52,372			—			—			(84,660		)	—
Income (loss) before
benefit for income taxes	32,288		32,288			67,985			(16,301		)	(84,660		)	31,600
Benefit for income taxes	—		—			(232		)	(456		)	—			(688		)
Net income (loss)	$	32,288	$	32,288		$	68,217		$	(15,845	)	$	(84,660	)	$	32,288

Other comprehensive income (loss):
Foreign currency translation adjustments	—		—			—			(14,690		)	—			(14,690		)
Unrealized loss on derivative instruments	—		—			—			(465		)	—			(465		)
Minimum pension liability for
actuarial loss	—		—			(1,436		)	—			—			(1,436		)
Total comprehensive income (loss)	$	32,288	$	32,288		$	66,781		$	(31,000	)	$	(84,660	)	$	15,697



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
For the year ended December 31, 2014
	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
(Amounts in thousands)	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Net sales	$	—		$	—		$	1,287,810		$	278,833		$	—		$	1,566,643
Cost of products sold	—			—			1,039,502			219,340			—			1,258,842
Gross profit	—			—			248,308			59,493			—			307,801
Operating expenses:
Selling, general and
administrative expenses	—			23,931			135,434			64,798			—			224,163
Intercompany administrative
charges	—			—			17,381			6,602			(23,983		)	—
Amortization of intangible assets	—			—			16,806			5,334			—			22,140
Total operating expenses	—			23,931			169,621			76,734			(23,983		)	246,303
Operating earnings (loss)	—			(23,931		)	78,687			(17,241		)	23,983			61,498
Foreign currency loss	—			—			—			(992		)	—			(992		)
Intercompany interest	—			60,442			(56,941		)	(3,501		)	—			—
Interest expense	—			(71,234		)	(32		)	(3		)	—			(71,269		)
Interest income	—			5			30			48			—			83
Tax receivable agreement liability adjustment	—			670			—			—			—			670
Loss on modification or
extinguishment of debt	—			(21,364		)	—			—			—			(21,364		)
Intercompany administrative income	—			23,983			—			—			(23,983		)	—
Income (loss) before equity in
subsidiaries' income (loss)	—			(31,429		)	21,744			(21,689		)	—			(31,374		)
Equity in subsidiaries' income (loss)	(31,269		)	160			—			—			31,109			—
Income (loss) before provision
(benefit) for income taxes	(31,269		)	(31,269		)	21,744			(21,689		)	31,109			(31,374		)
Provision (benefit) for income taxes	—			—			(4,284		)	4,179			—			(105		)
Net income (loss)	$	(31,269	)	$	(31,269	)	$	26,028		$	(25,868	)	$	31,109		$	(31,269	)

Other comprehensive income (loss):
Foreign currency translation adjustments	—			—			—			(9,681		)	—			(9,681		)
Unrealized gain on derivative instruments	—			—			—			1,294			—			1,294
Minimum pension liability for
actuarial loss	—			(3,504		)	(4,870		)	—			—			(8,374		)
Total comprehensive income (loss)	$	(31,269	)	$	(34,773	)	$	21,158		$	(34,255	)	$	31,109		$	(48,030	)



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2016
(Amounts in thousands)	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
ASSETS	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Current Assets:
Cash and cash equivalents	$	—		$	50,035		$	(10,918	)	$	12,480		$	—		$	51,597
Accounts receivable, net	—			—			189,983			19,936			—			209,919
Inventories:
Raw materials	—			—			63,829			5,810			—			69,639
Work in process	—			—			23,007			1,614			—			24,621
Finished goods	—			—			54,346			13,350			—			67,696
Total inventory	—			—			141,182			20,774			—			161,956
Prepaid expenses and other
current assets	—			1,276			21,940			3,634			—			26,850
Total current assets	—			51,311			342,187			56,824			—			450,322
Investments in subsidiaries	4,106			(231,236		)	—			—			227,130			—
Property and Equipment, at cost:
Land	—			—			7,487			762			—			8,249
Buildings and improvements	—			510			63,000			4,441			—			67,951
Machinery and equipment	—			1,675			392,068			19,822			—			413,565
	—			2,185			462,555			25,025			—			489,765
Less accumulated depreciation	—			(665		)	(312,759		)	(10,785		)	—			(324,209		)
Total property and equipment, net	—			1,520			149,796			14,240			—			165,556
Other Assets:
Intangible assets, net	—			—			91,748			12,411			—			104,159
Goodwill	—			—			449,366			29,148			—			478,514
Deferred income taxes	—			—			50,347			—			—			50,347
Intercompany note receivable	—			1,135,073			—			—			(1,135,073		)	—
Other	—			3,925			4,918			—			—			8,843
Total other assets	—			1,138,998			596,379			41,559			(1,135,073		)	641,863
	$	4,106		$	960,593		$	1,088,362		$	112,623		$	(907,943	)	$	1,257,741

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities:
Accounts payable	$	—		$	377		$	64,206		$	10,815		$	—		$	75,398
Accrued expenses	—			29,812			124,723			14,480			—			169,015
Current portion of payable to related
parties pursuant to tax receivable agreement	—			25,383			—			—			—			25,383
Current portion of long-term debt	—			4,300			—			—			—			4,300
Total current liabilities	—			59,872			188,929			25,295			—			274,096
Deferred income taxes	—			—			—			2,722			—			2,722
Intercompany note payable	—			—			1,026,657			108,416			(1,135,073		)	—
Long-term portion of payable to related
parties pursuant to tax receivable agreement	—			54,336			—			—			—			54,336
Other long-term liabilities	—			6,193			74,835			5,367			—			86,395
Long-term debt	—			836,086			—			—			—			836,086
Commitments and contingencies
Stockholders' Equity (Deficit):
Preferred stock	—			—			—			—			—			—
Common stock	683			683			—			—			(683		)	683
Additional paid-in-capital	751,452			751,452			236,242			26,464			(1,014,158		)	751,452
(Accumulated deficit) retained earnings	(714,737		)	(714,737		)	(422,622		)	(36,312		)	1,173,671			(714,737		)
Accumulated other
comprehensive loss	(33,292		)	(33,292		)	(15,679		)	(19,329		)	68,300			(33,292		)
Total stockholder's equity (deficit)	4,106			4,106			(202,059		)	(29,177		)	227,130			4,106
	$	4,106		$	960,593		$	1,088,362		$	112,623		$	(907,943	)	$	1,257,741



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2015
	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	94,692		$	(4,944	)	$	19,677		$	—		$	109,425
Accounts receivable, net	—			—			172,560			22,605			—			195,165
Inventories:
Raw materials	—			—			58,400			5,602			—			64,002
Work in process	—			—			23,126			2,193			—			25,319
Finished goods	—			—			47,946			13,136			—			61,082
Total inventory	—			—			129,472			20,931			—			150,403
Prepaid expenses and other
current assets	—			944			20,310			3,393			—			24,647
Deferred income taxes	—			—			11,255			6			—			11,261
Total current assets	—			95,636			328,653			66,612			—			490,901
Investments in subsidiaries	(76,813		)	(245,265		)	—			—			322,078			—
Property and Equipment, at cost:
Land	—			—			7,436			739			—			8,175
Buildings and improvements	—			—			61,883			4,438			—			66,321
Machinery and equipment	—			4,813			364,093			16,844			—			385,750
	—			4,813			433,412			22,021			—			460,246
Less accumulated depreciation	—			(1,755		)	(288,542		)	(8,946		)	—			(299,243		)
Total property and equipment, net	—			3,058			144,870			13,075			—			161,003
Other Assets:
Intangible assets, net	—			—			112,173			16,211			—			128,384
Goodwill	—			—			449,366			28,373			—			477,739
Intercompany note receivable	—			1,104,510			—			—			(1,104,510		)	—
Other	—			4,831			3,714			—			—			8,545
Total other assets	—			1,109,341			565,253			44,584			(1,104,510		)	614,668
	$	(76,813	)	$	962,770		$	1,038,776		$	124,271		$	(782,432	)	$	1,266,572

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities:
Accounts payable	—			$	235		$	60,655		$	13,606		$	—		$	74,496
Accrued expenses	—			24,512			113,051			15,399			—			152,962
Current portion of payable to related
parties pursuant to tax receivable agreement	—			3,005			—			—			—			3,005
Current portion of long-term debt	—			4,300			—			—			—			4,300
Total current liabilities	—			32,052			173,706			29,005			—			234,763
Deferred income taxes	—			—			17,470			3,917			—			21,387
Intercompany note payable	—			—			1,002,447			102,063			(1,104,510		)	—
Payable to related parties pursuant to
tax receivable agreement	—			20,811			—			—			—			20,811
Other long-term liabilities	—			11,189			75,911			3,793			—			90,893
Long-term debt	—			975,531			—			—			—			975,531
Commitments and contingencies
Stockholders' Equity (Deficit):
Preferred stock	—			—			—			—			—			—
Common stock	681			681			—			—			(681		)	681
Additional paid-in-capital	749,296			749,296			370,180			31,611			(1,151,087		)	749,296
Accumulated deficit	(790,224		)	(790,224		)	(584,964		)	(25,546		)	1,400,734			(790,224		)
Accumulated other
comprehensive loss	(36,566		)	(36,566		)	(15,974		)	(20,572		)	73,112			(36,566		)
Total stockholder's (deficit) equity	(76,813		)	(76,813		)	(230,758		)	(14,507		)	322,078			(76,813		)
	$	(76,813	)	$	962,770		$	1,038,776		$	124,271		$	(782,432	)	$	1,266,572



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2016
(Amounts in thousands)	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Cash flows from operating
activities:
Net income (loss)	$	75,487		$	75,487		$	162,342		$	(10,766	)	$	(227,063	)	$	75,487
Adjustments to reconcile net income (loss)
to cash provided by operating activities:
Depreciation and amortization expense	—			164			49,484			6,755			—			56,403
Non-cash restructuring costs	—			—			—			427			—			427
Non-cash interest expense, net	—			13,710			—			—			—			13,710
Gain on foreign currency transactions	—			—			—			(299		)	—			(299		)
Non-cash litigation expense	—			—			1,875			—			—			1,875
Loss on modification or
extinguishment of debt	—			11,747			—			—			—			11,747
Stock based compensation	—			1,067			—			—			—			1,067
Deferred income taxes	—			—			(56,712		)	(1,277		)	—			(57,989		)
Tax receivable agreement liability adjustment	—			60,874			—			—			—			60,874
Increase in tax uncertainty,
net of valuation allowance	—			—			1,059			—			—			1,059
Equity in subsidiaries' net income	(75,487		)	(151,576		)	—			—			227,063			—
Other	—			—			(190		)	—			—			(190		)
Changes in operating assets and
liabilities:
Accounts receivable, net	—			—			(18,122		)	3,413			—			(14,709		)
Inventories	—			—			(12,355		)	813			—			(11,542		)
Prepaid expenses and other
current assets	—			(28		)	(3,166		)	227			—			(2,967		)
Accounts payable	—			142			(2,449		)	3,252			—			945
Accrued expenses	—			201			8,253			583			—			9,037
Cash payments on restructuring liabilities	—			—			(112		)	(428		)	—			(540		)
Other	—			—			—			647			—			647
Net cash provided by
operating activities	—			11,788			129,907			3,347			—			145,042
Cash flows from investing
activities:
Capital expenditures	—			(1,749		)	(31,070		)	(3,182		)	—			(36,001		)
Proceeds from sale of assets	—			—			55			128			—			183
Net cash used in
investing activities	—			(1,749		)	(31,015		)	(3,054		)	—			(35,818		)
Cash flows from financing
activities:
Payments on long-term debt	—			(164,300		)	—			—			—			(164,300		)
Proceeds from intercompany
investment	—			113,484			(104,866		)	(8,618		)	—			—
Proceeds from exercises of employee stock options	—			1,091			—			—			—			1,091
Cash payments on tax receivable agreement	—			(4,971		)	—			—			—			(4,971		)
Net cash provided used in
financing activities	—			(54,696		)	(104,866		)	(8,618		)	—			(168,180		)
Impact of exchange rate movement
on cash	—			—			—			1,128			—			1,128
Net decrease in cash
and cash equivalents	—			(44,657		)	(5,974		)	(7,197		)	—			(57,828		)
Cash and cash equivalents at the
beginning of the period	—			94,692			(4,944		)	19,677			—			109,425
Cash and cash equivalents at the end
of the period	$	—		$	50,035		$	(10,918	)	$	12,480		$	—		$	51,597



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2015
(Amounts in thousands)	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Cash flows from operating
activities:
Net income (loss)	$	32,288		$	32,288		$	68,217		$	(15,845	)	$	(84,660	)	$	32,288
Adjustments to reconcile net income (loss)
to cash provided by operating activities:
Depreciation and amortization expense	—			312			51,079			7,009			—			58,400
Fair-value premium on purchased inventory	—			—			54			—			—			54
Non-cash restructuring costs	—			—			—			704			—			704
Non-cash interest expense, net	—			13,380			—			—			—			13,380
Loss on foreign currency transactions	—			—			—			3,166			—			3,166
Stock based compensation	—			1,960			—			—			—			1,960
Deferred income taxes	—			—			(3,612		)	(1,289		)	—			(4,901		)
Tax receivable agreement liability adjustment	—			12,947			—			—			—			12,947
Reduction in tax uncertainty,
net of valuation allowance	—			—			(199		)	—			—			(199		)
Equity in subsidiaries' net loss (income)	(32,288		)	(52,372		)	—			—			84,660			—
Other	—			—			(28		)	—			—			(28		)
Changes in operating assets and
liabilities:
Accounts receivable, net	—			—			(10,949		)	6,387			—			(4,562		)
Inventories	—			—			27,963			1,958			—			29,921
Prepaid expenses and other
current assets	—			1,165			5,348			216			—			6,729
Accounts payable	—			(4		)	(11,712		)	1,153			—			(10,563		)
Accrued expenses	—			1,682			2,452			(798		)	—			3,336
Cash payments on restructuring liabilities	—			—			(201		)	(1,444		)	—			(1,645		)
Other	—			—			(1,624		)	—			—			(1,624		)
Net cash provided by
operating activities	—			11,358			126,788			1,217			—			139,363
Cash flows from investing
activities:
Acquisitions, net of cash acquired and outstanding checks assumed	—			—			(21,000		)	—			—			(21,000		)
Capital expenditures	—			(2,848		)	(28,181		)	(2,831		)	—			(33,860		)
Proceeds from sale of assets	—			—			85			37			—			122
Net cash used in
investing activities	—			(2,848		)	(49,096		)	(2,794		)	—			(54,738		)
Cash flows from financing
activities:
Payments on long-term debt	—			(4,300		)	—			—			—			(4,300		)
Proceeds from intercompany
investment	—			66,189			(76,791		)	10,602			—			—
Proceeds from exercises of employee stock options	—			2,198			—			—			—			2,198
Cash payments on tax receivable agreement	—			(48		)	—			—			—			(48		)
Debt issuance costs paid	—			(1,412		)	—			—			—			(1,412		)
Net cash provided by (used in)
financing activities	—			62,627			(76,791		)	10,602			—			(3,562		)
Impact of exchange rate movement
on cash	—			—			—			(4,800		)	—			(4,800		)
Net increase in cash
and cash equivalents	—			71,137			901			4,225			—			76,263
Cash and cash equivalents at the
beginning of the period	—			23,555			(5,845		)	15,452			—			33,162
Cash and cash equivalents at the end
of the period	$	—		$	94,692		$	(4,944	)	$	19,677		$	—		$	109,425



PLY GEM HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the year ended December 31, 2014
(Amounts in thousands)	Guarantor			Issuer						Non-
	Ply Gem			Ply Gem			Guarantor			Guarantor			Consolidating
	Holdings, Inc.			Industries, Inc.			Subsidiaries			Subsidiary			Adjustments			Consolidated
Cash flows from operating
activities:
Net income (loss)	$	(31,269	)	$	(31,269	)	$	26,028		$	(25,868	)	$	31,109		$	(31,269	)
Adjustments to reconcile net income
(loss) to cash provided by (used in)
operating activities:
Depreciation and amortization expense	—			698			39,399			8,366			—			48,463
Fair-value premium on purchased inventory	—			—			38			—			—			38
Fair-value decrease of contingent acquisition liability	—			—			(264		)	—			—			(264		)
Non-cash restructuring costs	—			—			—			3,275			—			3,275
Non-cash interest expense, net	—			14,948			—			—			—			14,948
Loss on foreign currency transactions	—			—			—			992			—			992
Non-cash litigation expense	—			—			4,573			—			—			4,573
Loss on modification or
extinguishment of debt	—			21,364			—			—			—			21,364
Stock based compensation	—			2,246			—			—			—			2,246
Deferred income taxes	—			—			(6,638		)	4,265			—			(2,373		)
Tax receivable agreement liability adjustment	—			(670		)	—			—			—			(670		)
Increase in tax uncertainty,
net of valuation allowance	—			—			131			—			—			131
Equity in subsidiaries' net income (loss)	31,269			(160		)	—			—			(31,109		)	—
Other	—			—			(295		)	—			—			(295		)
Changes in operating assets and
liabilities:
Accounts receivable, net	—			—			(5,087		)	(7,025		)	—			(12,112		)
Inventories	—			—			(25,603		)	(1,142		)	—			(26,745		)
Prepaid expenses and other
current assets	—			(229		)	(4,501		)	(230		)	—			(4,960		)
Accounts payable	—			(362		)	(13,648		)	(3,394		)	—			(17,404		)
Accrued expenses	—			(4,285		)	(4,454		)	(1,013		)	—			(9,752		)
Cash payments on restructuring liabilities	—			—			(1,416		)	(3,553		)	—			(4,969		)
Other	—			—			(449		)	—			—			(449		)
Net cash provided by (used in)
operating activities	—			2,281			7,814			(25,327		)	—			(15,232		)
Cash flows from investing
activities:
Acquisitions, net of cash acquired	—			(130,856		)	—			—			—			(130,856		)
Capital expenditures	—			(160		)	(20,918		)	(2,583		)	—			(23,661		)
Proceeds from sale of assets	—			—			167			656			—			823
Net cash used in
investing activities	—			(131,016		)	(20,751		)	(1,927		)	—			(153,694		)
Cash flows from financing
activities:
Proceeds from long-term debt	—			1,067,725			—			—			—			1,067,725
Payments on long-term debt	—			(855,225		)	—			—			—			(855,225		)
Proceeds from intercompany
investment	—			(41,033		)	12,062			28,971			—			—
Payment of early tender premium	—			(61,142		)	—			—			—			(61,142		)
Proceeds from exercises of employee stock options	—			1,112			—			—			—			1,112
Debt issuance costs paid	—			(16,947		)	—			—			—			(16,947		)
Net cash provided by
financing activities	—			94,490			12,062			28,971			—			135,523
Impact of exchange rate movement
on cash	—			—			—			(3,236		)	—			(3,236		)
Net decrease in cash
and cash equivalents	—			(34,245		)	(875		)	(1,519		)	—			(36,639		)
Cash and cash equivalents at the
beginning of the period	—			57,800			(4,970		)	16,971			—			69,801
Cash and cash equivalents at the end
of the period	$	—		$	23,555		$	(5,845	)	$	15,452		$	—		$	33,162