Condensed Financial Statements [Text Block] |
(20) Financial
Information About the Parent, the Issuer and the
Guarantors
On
September 27, 2005, Global (the “Issuer”)
issued $200 million aggregate principal amount of Senior
Notes which have been guaranteed on a senior basis by
Interiors (the “Parent”), and other wholly owned
domestic subsidiaries of the Issuer and the Parent, including
Ethan Allen Retail, Inc., Ethan Allen
Operations, Inc., Ethan Allen Realty, LLC, Lake Avenue
Associates, Inc. and Manor House, Inc. The
subsidiary guarantors (other than the Parent) are
collectively called the “Guarantors”. The
guarantees of the Guarantors are unsecured. All of the
guarantees are full, unconditional and joint and several and
the Issuer and each of the Guarantors are 100% owned by the
Parent. Our other subsidiaries which are not guarantors are
called the “Non-Guarantors”.
The
following tables set forth the condensed consolidating
balance sheets as of June 30, 2013 and June 30, 2012,
the condensed consolidating statements of operations for the
twelve months ended June 30, 2013, 2012 and 2011, and the
condensed consolidating statements of cash flows for the
twelve months ended June 30, 2013, 2012 and 2011 of the
Parent, the Issuer, the Guarantors and the
Non-Guarantors.
ETHAN
ALLEN INTERIORS INC. AND SUBSIDIARIES
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
June
30,
2013
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
57,307
|
|
|
$
|
12,463
|
|
|
$
|
2,831
|
|
|
$
|
-
|
|
|
$
|
72,601
|
|
Marketable
securities
|
|
|
-
|
|
|
|
15,529
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,529
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
12,061
|
|
|
|
212
|
|
|
|
4
|
|
|
|
-
|
|
|
|
12,277
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
161,683
|
|
|
|
5,463
|
|
|
|
(29,890
|
)
|
|
|
137,256
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
9,882
|
|
|
|
11,275
|
|
|
|
1,750
|
|
|
|
-
|
|
|
|
22,907
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
831,238
|
|
|
|
302,577
|
|
|
|
(3,726
|
)
|
|
|
(1,130,089
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
926,017
|
|
|
|
488,210
|
|
|
|
6,322
|
|
|
|
(1,159,979
|
)
|
|
|
260,570
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
9,432
|
|
|
|
265,698
|
|
|
|
16,542
|
|
|
|
-
|
|
|
|
291,672
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
15,433
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,433
|
|
Other
assets
|
|
|
-
|
|
|
|
2,188
|
|
|
|
1,488
|
|
|
|
806
|
|
|
|
-
|
|
|
|
4,482
|
|
Investment
in affiliated companies
|
|
|
686,451
|
|
|
|
(111,647
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(574,804
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
686,451
|
|
|
$
|
879,328
|
|
|
$
|
762,619
|
|
|
$
|
23,670
|
|
|
$
|
(1,734,783
|
)
|
|
$
|
617,285
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
480
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
480
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
56,030
|
|
|
|
3,068
|
|
|
|
-
|
|
|
|
59,098
|
|
Accounts
payable
|
|
|
-
|
|
|
|
7,390
|
|
|
|
15,097
|
|
|
|
508
|
|
|
|
-
|
|
|
|
22,995
|
|
Accrued
expenses and other current
liabilities
|
|
|
2,720
|
|
|
|
29,710
|
|
|
|
16,683
|
|
|
|
1,253
|
|
|
|
-
|
|
|
|
50,366
|
|
Intercompany
payables
|
|
|
349,374
|
|
|
|
(7,460
|
)
|
|
|
766,039
|
|
|
|
22,136
|
|
|
|
(1,130,089
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
352,094
|
|
|
|
29,640
|
|
|
|
854,329
|
|
|
|
26,965
|
|
|
|
(1,130,089
|
)
|
|
|
132,939
|
|
Long-term
debt
|
|
|
-
|
|
|
|
129,152
|
|
|
|
1,657
|
|
|
|
-
|
|
|
|
-
|
|
|
|
130,809
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
4,492
|
|
|
|
14,355
|
|
|
|
333
|
|
|
|
-
|
|
|
|
19,180
|
|
Total
liabilities
|
|
|
352,094
|
|
|
|
163,284
|
|
|
|
870,341
|
|
|
|
27,298
|
|
|
|
(1,130,089
|
)
|
|
|
282,928
|
|
Shareholders’
equity
|
|
|
334,357
|
|
|
|
716,044
|
|
|
|
(107,722
|
)
|
|
|
(3,628
|
)
|
|
|
(604,694
|
)
|
|
|
334,357
|
|
Total
liabilities and shareholders’
equity
|
|
$
|
686,451
|
|
|
$
|
879,328
|
|
|
$
|
762,619
|
|
|
$
|
23,670
|
|
|
$
|
(1,734,783
|
)
|
|
$
|
617,285
|
|
ETHAN
ALLEN INTERIORS INC. AND SUBSIDIARIES
CONDENSED
CONSOLIDATING BALANCE SHEET
(In
thousands)
June
30, 2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents
|
|
$
|
-
|
|
|
$
|
64,946
|
|
|
$
|
12,276
|
|
|
$
|
2,499
|
|
|
$
|
-
|
|
|
$
|
79,721
|
|
Marketable
securities
|
|
|
-
|
|
|
|
9,005
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
9,005
|
|
Accounts
receivable, net
|
|
|
-
|
|
|
|
14,648
|
|
|
|
263
|
|
|
|
8
|
|
|
|
-
|
|
|
|
14,919
|
|
Inventories
|
|
|
-
|
|
|
|
-
|
|
|
|
182,382
|
|
|
|
4,736
|
|
|
|
(31,379
|
)
|
|
|
155,739
|
|
Prepaid
expenses and other current assets
|
|
|
-
|
|
|
|
6,191
|
|
|
|
14,689
|
|
|
|
2,528
|
|
|
|
-
|
|
|
|
23,408
|
|
Intercompany
receivables
|
|
|
-
|
|
|
|
829,913
|
|
|
|
273,536
|
|
|
|
(8,515
|
)
|
|
|
(1,094,934
|
)
|
|
|
-
|
|
Total
current assets
|
|
|
-
|
|
|
|
924,703
|
|
|
|
483,146
|
|
|
|
1,256
|
|
|
|
(1,126,313
|
)
|
|
|
282,792
|
|
Property,
plant and equipment, net
|
|
|
-
|
|
|
|
9,078
|
|
|
|
272,228
|
|
|
|
14,389
|
|
|
|
-
|
|
|
|
295,695
|
|
Goodwill
and other intangible assets
|
|
|
-
|
|
|
|
37,905
|
|
|
|
7,223
|
|
|
|
-
|
|
|
|
-
|
|
|
|
45,128
|
|
Restricted
cash and investments
|
|
|
-
|
|
|
|
15,416
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
15,416
|
|
Other
assets
|
|
|
-
|
|
|
|
4,948
|
|
|
|
809
|
|
|
|
-
|
|
|
|
-
|
|
|
|
5,757
|
|
Investment
in affiliated companies
|
|
|
652,868
|
|
|
|
(108,864
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(544,004
|
)
|
|
|
-
|
|
Total
assets
|
|
$
|
652,868
|
|
|
$
|
883,186
|
|
|
$
|
763,406
|
|
|
$
|
15,645
|
|
|
$
|
(1,670,317
|
)
|
|
$
|
644,788
|
|
Liabilities
and Shareholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
maturities of long-term debt
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
250
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
250
|
|
Customer
deposits
|
|
|
-
|
|
|
|
-
|
|
|
|
62,479
|
|
|
|
2,986
|
|
|
|
-
|
|
|
|
65,465
|
|
Accounts
payable
|
|
|
-
|
|
|
|
7,126
|
|
|
|
19,695
|
|
|
|
494
|
|
|
|
-
|
|
|
|
27,315
|
|
Accrued
expenses and other current
liabilities
|
|
|
2,713
|
|
|
|
35,752
|
|
|
|
18,537
|
|
|
|
1,045
|
|
|
|
-
|
|
|
|
58,047
|
|
Intercompany
payables
|
|
|
328,287
|
|
|
|
327
|
|
|
|
756,513
|
|
|
|
9,807
|
|
|
|
(1,094,934
|
)
|
|
|
-
|
|
Total
current liabilities
|
|
|
331,000
|
|
|
|
43,205
|
|
|
|
857,474
|
|
|
|
14,332
|
|
|
|
(1,094,934
|
)
|
|
|
151,077
|
|
Long-term
debt
|
|
|
-
|
|
|
|
152,986
|
|
|
|
1,264
|
|
|
|
-
|
|
|
|
-
|
|
|
|
154,250
|
|
Other
long-term liabilities
|
|
|
-
|
|
|
|
3,641
|
|
|
|
13,874
|
|
|
|
78
|
|
|
|
-
|
|
|
|
17,593
|
|
Total
liabilities
|
|
|
331,000
|
|
|
|
199,832
|
|
|
|
872,612
|
|
|
|
14,410
|
|
|
|
(1,094,934
|
)
|
|
|
322,920
|
|
Shareholders’
equity
|
|
|
321,868
|
|
|
|
683,354
|
|
|
|
(109,206
|
)
|
|
|
1,235
|
|
|
|
(575,383
|
)
|
|
|
321,868
|
|
Total
liabilities and shareholders’
equity
|
|
$
|
652,868
|
|
|
$
|
883,186
|
|
|
$
|
763,406
|
|
|
$
|
15,645
|
|
|
$
|
(1,670,317
|
)
|
|
$
|
644,788
|
|
ETHAN
ALLEN INTERIORS INC. AND SUBSIDIARIES
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Year
Ended June 30, 2013
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
434,741
|
|
|
$
|
796,194
|
|
|
$
|
38,181
|
|
|
$
|
(540,033
|
)
|
|
$
|
729,083
|
|
Cost
of sales
|
|
|
-
|
|
|
|
327,723
|
|
|
|
520,570
|
|
|
|
23,963
|
|
|
|
(541,522
|
)
|
|
|
330,734
|
|
Gross
profit
|
|
|
-
|
|
|
|
107,018
|
|
|
|
275,624
|
|
|
|
14,218
|
|
|
|
1,489
|
|
|
|
398,349
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
180
|
|
|
|
46,620
|
|
|
|
272,794
|
|
|
|
18,318
|
|
|
|
-
|
|
|
|
337,912
|
|
Operating
income (loss)
|
|
|
(180
|
)
|
|
|
60,398
|
|
|
|
2,830
|
|
|
|
(4,100
|
)
|
|
|
1,489
|
|
|
|
60,437
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
32,658
|
|
|
|
(4,229
|
)
|
|
|
38
|
|
|
|
(75
|
)
|
|
|
(29,877
|
)
|
|
|
(1,485
|
)
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
8,709
|
|
|
|
69
|
|
|
|
-
|
|
|
|
-
|
|
|
|
8,778
|
|
Income
before income tax expense
|
|
|
32,478
|
|
|
|
47,460
|
|
|
|
2,799
|
|
|
|
(4,175
|
)
|
|
|
(28,388
|
)
|
|
|
50,174
|
|
Income
tax expense (benefit)
|
|
|
-
|
|
|
|
16,291
|
|
|
|
1,320
|
|
|
|
85
|
|
|
|
-
|
|
|
|
17,696
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
32,478
|
|
|
$
|
31,169
|
|
|
$
|
1,479
|
|
|
$
|
(4,260
|
)
|
|
$
|
(28,388
|
)
|
|
$
|
32,478
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Year
Ended June 30, 2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
456,895
|
|
|
$
|
787,295
|
|
|
$
|
33,417
|
|
|
$
|
(548,234
|
)
|
|
$
|
729,373
|
|
Cost
of sales
|
|
|
-
|
|
|
|
341,365
|
|
|
|
523,064
|
|
|
|
19,311
|
|
|
|
(544,655
|
)
|
|
|
339,085
|
|
Gross
profit
|
|
|
-
|
|
|
|
115,530
|
|
|
|
264,231
|
|
|
|
14,106
|
|
|
|
(3,579
|
)
|
|
|
390,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
180
|
|
|
|
45,690
|
|
|
|
280,480
|
|
|
|
14,241
|
|
|
|
-
|
|
|
|
340,591
|
|
Operating
income (loss)
|
|
|
(180
|
)
|
|
|
69,840
|
|
|
|
(16,249
|
)
|
|
|
(135
|
)
|
|
|
(3,579
|
)
|
|
|
49,697
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
49,874
|
|
|
|
(15,403
|
)
|
|
|
216
|
|
|
|
17
|
|
|
|
(34,142
|
)
|
|
|
562
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
8,997
|
|
|
|
23
|
|
|
|
-
|
|
|
|
-
|
|
|
|
9,020
|
|
Income
before income tax expense
|
|
|
49,694
|
|
|
|
45,440
|
|
|
|
(16,056
|
)
|
|
|
(118
|
)
|
|
|
(37,721
|
)
|
|
|
41,239
|
|
Income
tax expense (benefit)
|
|
|
-
|
|
|
|
(8,013
|
)
|
|
|
(523
|
)
|
|
|
81
|
|
|
|
-
|
|
|
|
(8,455
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
49,694
|
|
|
$
|
53,453
|
|
|
$
|
(15,533
|
)
|
|
$
|
(199
|
)
|
|
$
|
(37,721
|
)
|
|
$
|
49,694
|
|
CONDENSED
CONSOLIDATING STATEMENT OF OPERATIONS
(In
thousands)
Year
Ended June 30, 2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
sales
|
|
$
|
-
|
|
|
$
|
423,458
|
|
|
$
|
718,660
|
|
|
$
|
29,861
|
|
|
$
|
(493,019
|
)
|
|
$
|
678,960
|
|
Cost
of sales
|
|
|
-
|
|
|
|
321,706
|
|
|
|
481,814
|
|
|
|
16,198
|
|
|
|
(490,218
|
)
|
|
|
329,500
|
|
Gross
profit
|
|
|
-
|
|
|
|
101,752
|
|
|
|
236,846
|
|
|
|
13,663
|
|
|
|
(2,801
|
)
|
|
|
349,460
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling,
general and administrative expenses
|
|
|
180
|
|
|
|
43,791
|
|
|
|
260,665
|
|
|
|
12,891
|
|
|
|
-
|
|
|
|
317,527
|
|
Operating
income (loss)
|
|
|
(180
|
)
|
|
|
57,961
|
|
|
|
(23,819
|
)
|
|
|
772
|
|
|
|
(2,801
|
)
|
|
|
31,933
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and other miscellaneous income, net
|
|
|
29,430
|
|
|
|
(17,842
|
)
|
|
|
232
|
|
|
|
5
|
|
|
|
(6,261
|
)
|
|
|
5,564
|
|
Interest
and other related financing costs
|
|
|
-
|
|
|
|
10,847
|
|
|
|
279
|
|
|
|
-
|
|
|
|
-
|
|
|
|
11,126
|
|
Income
before income tax expense
|
|
|
29,250
|
|
|
|
29,272
|
|
|
|
(23,866
|
)
|
|
|
777
|
|
|
|
(9,062
|
)
|
|
|
26,371
|
|
Income
tax expense (benefit)
|
|
|
-
|
|
|
|
(2,959
|
)
|
|
|
-
|
|
|
|
80
|
|
|
|
-
|
|
|
|
(2,879
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income/(loss)
|
|
$
|
29,250
|
|
|
$
|
32,231
|
|
|
$
|
(23,866
|
)
|
|
$
|
697
|
|
|
$
|
(9,062
|
)
|
|
$
|
29,250
|
|
ETHAN
ALLEN INTERIORS INC. AND SUBSIDIARIES
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Year
Ended June 30, 2013
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by operating activities
|
|
$
|
20,821
|
|
|
$
|
24,720
|
|
|
$
|
12,336
|
|
|
$
|
3,424
|
|
|
$
|
-
|
|
|
$
|
61,301
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,320
|
)
|
|
|
(14,847
|
)
|
|
|
(2,838
|
)
|
|
|
-
|
|
|
|
(19,005
|
)
|
Acquisitions
|
|
|
-
|
|
|
|
-
|
|
|
|
(770
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(770
|
)
|
Proceeds
from the disposal of property, plant and equipment
|
|
|
-
|
|
|
|
61
|
|
|
|
3,222
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,283
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
(17
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(17
|
)
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(18,247
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(18,247
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
11,165
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
11,165
|
|
Other
|
|
|
-
|
|
|
|
1,440
|
|
|
|
550
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,990
|
|
Net
cash used in investing activities
|
|
|
-
|
|
|
|
(6,918
|
)
|
|
|
(11,845
|
)
|
|
|
(2,838
|
)
|
|
|
-
|
|
|
|
(21,601
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(25,800
|
)
|
|
|
(304
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(26,104
|
)
|
Purchases
and other retirements of company stock
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
Dividends
paid
|
|
|
(22,220
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(22,220
|
)
|
Other
|
|
|
1,399
|
|
|
|
359
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,758
|
|
Net
cash used in financing activities
|
|
|
(20,821
|
)
|
|
|
(25,441
|
)
|
|
|
(304
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(46,566
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(254
|
)
|
|
|
-
|
|
|
|
(254
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
increase (decrease) in cash and cash equivalents
|
|
|
-
|
|
|
|
(7,639
|
)
|
|
|
187
|
|
|
|
332
|
|
|
|
-
|
|
|
|
(7,120
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – beginning of period
|
|
|
-
|
|
|
|
64,946
|
|
|
|
12,276
|
|
|
|
2,499
|
|
|
|
-
|
|
|
|
79,721
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – end of period
|
|
$
|
-
|
|
|
$
|
57,307
|
|
|
$
|
12,463
|
|
|
$
|
2,831
|
|
|
$
|
-
|
|
|
$
|
72,601
|
|
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Year
Ended June 30, 2012
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by operating activities
|
|
$
|
9,187
|
|
|
$
|
3,939
|
|
|
$
|
18,441
|
|
|
$
|
6,134
|
|
|
$
|
-
|
|
|
$
|
37,701
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,952
|
)
|
|
|
(15,721
|
)
|
|
|
(5,211
|
)
|
|
|
-
|
|
|
|
(22,884
|
)
|
Acquisitions
|
|
|
-
|
|
|
|
-
|
|
|
|
(520
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(520
|
)
|
Proceeds
from the disposal of property, plant and equipment
|
|
|
-
|
|
|
|
12
|
|
|
|
1,861
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,873
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
975
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
975
|
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(3,647
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(3,647
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
7,230
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
7,230
|
|
Other
|
|
|
-
|
|
|
|
305
|
|
|
|
511
|
|
|
|
-
|
|
|
|
-
|
|
|
|
816
|
|
Net
cash provided by (used in) investing activities
|
|
|
-
|
|
|
|
2,923
|
|
|
|
(13,869
|
)
|
|
|
(5,211
|
)
|
|
|
-
|
|
|
|
(16,157
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(11,917
|
)
|
|
|
(287
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(12,204
|
)
|
Purchases
and other retirements of company stock
|
|
|
(1,350
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,350
|
)
|
Dividends
paid
|
|
|
(8,062
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(8,062
|
)
|
Other
|
|
|
225
|
|
|
|
238
|
|
|
|
275
|
|
|
|
-
|
|
|
|
-
|
|
|
|
738
|
|
Net
cash used in financing activities
|
|
|
(9,187
|
)
|
|
|
(11,679
|
)
|
|
|
(12
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(20,878
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect
of exchange rate changes on cash
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
536
|
|
|
|
-
|
|
|
|
536
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
increase (decrease) in cash and cash equivalents
|
|
|
-
|
|
|
|
(4,817
|
)
|
|
|
4,560
|
|
|
|
1,459
|
|
|
|
-
|
|
|
|
1,202
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – beginning of period
|
|
|
-
|
|
|
|
69,763
|
|
|
|
7,716
|
|
|
|
1,040
|
|
|
|
-
|
|
|
|
78,519
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and cash equivalents – end of period
|
|
$
|
-
|
|
|
$
|
64,946
|
|
|
$
|
12,276
|
|
|
$
|
2,499
|
|
|
$
|
-
|
|
|
$
|
79,721
|
|
ETHAN
ALLEN INTERIORS INC. AND SUBSIDIARIES
CONDENSED
CONSOLIDATING STATEMENT OF CASH FLOWS
(In
thousands)
Year
Ended June 30, 2011
|
|
Parent
|
|
|
Issuer
|
|
|
Guarantors
|
|
|
Non-Guarantors
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net
cash provided by operating activities
|
|
$
|
11,055
|
|
|
$
|
38,590
|
|
|
$
|
10,672
|
|
|
$
|
2,845
|
|
|
$
|
-
|
|
|
$
|
63,162
|
|
Cash
flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
-
|
|
|
|
(1,182
|
)
|
|
|
(5,017
|
)
|
|
|
(2,895
|
)
|
|
|
-
|
|
|
|
(9,094
|
)
|
Acquisitions
|
|
|
-
|
|
|
|
-
|
|
|
|
(2,957
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(2,957
|
)
|
Proceeds
from the disposal of property, plant and equipment
|
|
|
-
|
|
|
|
-
|
|
|
|
3,196
|
|
|
|
-
|
|
|
|
-
|
|
|
|
3,196
|
|
Change
in restricted cash and investments
|
|
|
-
|
|
|
|
927
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
927
|
|
Purchase
of marketable securities
|
|
|
-
|
|
|
|
(9,466
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(9,466
|
)
|
Proceeds
from the sale of marketable securities
|
|
|
-
|
|
|
|
7,319
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
7,319
|
|
Other
|
|
|
-
|
|
|
|
432
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
432
|
|
Net
cash used in investing activities
|
|
|
-
|
|
|
|
(1,970
|
)
|
|
|
(4,778
|
)
|
|
|
(2,895
|
)
|
|
|
-
|
|
|
|
(9,643
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payments
on long-term debt
|
|
|
-
|
|
|
|
(33,989
|
)
|
|
|
(3,898
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
(37,887
|
)
|
Purchases
and other retirements of company stock
|
|
|
(5,377
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(5,377
|
)
|
Dividends
paid
|
|
|
(5,754
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(5,754
|
)
|
Other
|
|
|
76
|
|
|
|
(137
|
)
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
| |