Ethan Allen Interiors Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 15 - Financial Information About the Parent, the Issuer and the Guarantors (Tables)

Note 15 - Financial Information About the Parent, the Issuer and the Guarantors (Tables)

3 Months Ended

Sep. 30, 2013

Disclosure Text Block Supplement [Abstract]

Condensed Consolidating Balance Sheet [Table Text Block]

	Parent		Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	-	$	74,888		$	12,810		$	3,526		$	-		$	91,224
Marketable securities		-		13,431			-			-			-			13,431
Accounts receivable, net		-		12,306			242			1			-			12,549
Inventories		-		-			165,829			5,827			(29,992	)		141,664
Prepaid expenses and other current assets		-		7,015			13,431			2,069			-			22,515
Intercompany receivables		-		831,631			304,803			(3,654	)		(1,132,780	)		-
Total current assets		-		939,271			497,115			7,769			(1,162,772	)		281,383
Property, plant and equipment, net		-		9,256			263,836			16,450			-			289,542
Goodwill and other intangible assets		-		37,905			7,223			-			-			45,128
Restricted cash and investments		-		14,934			-			-			-			14,934
Other assets		-		2,262			1,509			814			-			4,585
Investment in affiliated companies		695,856		(113,612	)		-			-			(582,244	)		-
Total assets	$	695,856	$	890,016		$	769,683		$	25,033		$	(1,745,016	)	$	635,572
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt	$	-	$	-		$	485		$	-		$	-		$	485
Customer deposits		-		-			63,752			3,649			-			67,401
Accounts payable		-		6,516			18,564			703			-			25,783
Accrued expenses and other current liabilities		3,021		32,213			14,406			1,574			-			51,214
Intercompany payables		351,894		(7,854	)		765,023			23,717			(1,132,780	)		-
Total current liabilities		354,915		30,875			862,230			29,643			(1,132,780	)		144,883
Long-term debt		-		129,178			1,534			-			-			130,712
Other long-term liabilities		-		4,473			14,185			378			-			19,036
Total liabilities		354,915		164,526			877,949			30,021			(1,132,780	)		294,631
Shareholders’ equity		340,941		725,490			(108,266	)		(4,988	)		(612,236	)		340,941
Total liabilities and shareholders’ equity	$	695,856	$	890,016		$	769,683		$	25,033		$	(1,745,016	)	$	635,572

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

Condensed Consolidating Statement of Operations [Table Text Block]

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	-		$	111,523		$	194,828		$	10,439		$	(135,131	)	$	181,659
Cost of sales		-			83,933			127,155			6,857			(135,029	)		82,916
Gross profit		-			27,590			67,673			3,582			(102	)		98,743
Selling, general and administrative expenses		45			9,632			68,165			4,957			-			82,799
Operating income (loss)		(45	)		17,958			(492	)		(1,375	)		(102	)		15,944
Interest and other income (expense)		9,079			(1,868	)		-			(16	)		(7,113	)		82
Interest and other related financing costs		-			1,851			22			-			-			1,873
Income (loss) before income taxes		9,034			14,239			(514	)		(1,391	)		(7,215	)		14,153
Income tax expense (benefit)		-			5,058			38			23			-			5,119
Net income/(loss)	$	9,034		$	9,181		$	(552	)	$	(1,414	)	$	(7,215	)	$	9,034

Three months ended September 30, 2012

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net sales	$	-		$	111,624		$	203,950		$	9,580		$	(137,717	)	$	187,437
Cost of sales		-			83,805			131,929			5,807			(138,357	)		83,184
Gross profit		-			27,819			72,021			3,773			640			104,253
Selling, general and administrative expenses		45			10,242			71,922			4,090			-			86,299
Operating income (loss)		(45	)		17,577			99			(317	)		640			17,954
Interest and other income (expense)		10,109			(602	)		(6	)		(41	)		(9,386	)		74
Interest and other related financing costs		-			2,183			16			-			-			2,199
Income (loss) before income taxes		10,064			14,792			77			(358	)		(8,746	)		15,829
Income tax expense		-			5,323			419			23			-			5,765
Net income/(loss)	$	10,064		$	9,469		$	(342	)	$	(381	)	$	(8,746	)	$	10,064

Condensed Consolidating Statement Of Cash Flows [Table Text Block]

CONDENSED CONSOLIDATING STATEMENT OF CASH FL (In thousands) Three months ended September 30, 2013
	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	2,477		$	15,198		$	2,707		$	763		$	-	$	21,145
Cash flows from investing activities:
Capital expenditures		-			(159	)		(2,994	)		(152	)		-		(3,305	)
Proceeds from the disposal of property, plant and equipment		-			18			752			-			-		770
Change in restricted cash and investments		-			499			-			-			-		499
Purchases of marketable securities		-			(3,990	)		-			-			-		(3,990	)
Sales of marketable securities		-			5,920			-			-			-		5,920
Other		-			83			-			-			-		83
Net cash provided by (used in) investing activities		-			2,371			(2,242	)		(152	)		-		(23	)
Cash flows from financing activities:
Payments on long-term debt		-			-			(118	)		-			-		(118	)
Dividends paid		(2,605	)		-			-			-			-		(2,605	)
Other		128			12			-			-			-		140
Net cash provided by (used in) financing activities		(2,477	)		12			(118	)		-			-		(2,583	)
Effect of exchange rate changes on cash		-			-			-			84			-		84
Net increase (decrease) in cash and cash equivalents		-			17,581			347			695			-		18,623

Cash and cash equivalents – beginning of period		-			57,307			12,463			2,831			-		72,601
Cash and cash equivalents – end of period	$	-		$	74,888		$	12,810		$	3,526		$	-	$	91,224

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (In thousands) Three months ended September 30, 2012
	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	2,547		$	(5,061	)	$	8,333		$	870		$	-	$	6,689
Cash flows from investing activities:
Capital expenditures		-			(768	)		(7,163	)		(387	)		-		(8,318	)
Acquisitions		-			-			(598	)		-			-		(598	)
Proceeds from the disposal of property, plant and equipment		-			-			711			-			-		711
Change in restricted cash and investments		-			(6	)		-			-			-		(6	)
Purchases of marketable securities		-			(4,677	)		-			-			-		(4,677	)
Sales of marketable securities		-			2,885			-			-			-		2,885
Other		-			60			-			-			-		60
Net cash used in investing activities		-			(2,506	)		(7,050	)		(387	)		-		(9,943	)
Cash flows from financing activities:
Payments on long-term debt		-			-			(62	)		-			-		(62	)
Dividends paid		(2,594	)		-			-			-			-		(2,594	)
Other		47			-			-			-			-		47
Net cash used in financing activities		(2,547	)		-			(62	)		-			-		(2,609	)
Effect of exchange rate changes on cash		-			-			-			55			-		55
Net increase (decrease) in cash and cash equivalents		-			(7,567	)		1,221			538			-		(5,808	)
Cash and cash equivalents – beginning of period		-			64,946			12,276			2,499			-		79,721
Cash and cash equivalents – end of period	$	-		$	57,379		$	13,497		$	3,037		$	-	$	73,913