Attached files
| file | filename |
|---|---|
| 8-K - ARAMARK CORP--FORM 8-K - ARAMARK CORP | d8k.htm |
Exhibit 99.1
ARAMARK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In Thousands)
| Three Months Ended October 1, 2010 |
Three Months Ended October 2, 2009 |
|||||||
| Sales |
$ | 3,158,014 | $ | 3,072,544 | ||||
| Costs and Expenses: |
||||||||
| Cost of services provided |
2,851,456 | 2,773,853 | ||||||
| Depreciation and amortization |
126,716 | 127,575 | ||||||
| Selling and general corporate expenses |
43,686 | 40,116 | ||||||
| 3,021,858 | 2,941,544 | |||||||
| Operating income |
136,156 | 131,000 | ||||||
| Interest and other financing costs, net |
108,744 | 108,462 | ||||||
| Income before income taxes |
27,412 | 22,538 | ||||||
| Provision for income taxes |
6,309 | 6,107 | ||||||
| Net income |
$ | 21,103 | $ | 16,431 | ||||
ARAMARK CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In Thousands)
| Fiscal Year Ended October 1, 2010 |
Fiscal Year Ended October 2, 2009 |
|||||||
| Sales |
$ | 12,571,676 | $ | 12,297,869 | ||||
| Costs and Expenses: |
||||||||
| Cost of services provided |
11,396,446 | 11,173,725 | ||||||
| Depreciation and amortization |
508,875 | 503,123 | ||||||
| Selling and general corporate expenses |
191,561 | 183,492 | ||||||
| 12,096,882 | 11,860,340 | |||||||
| Operating income |
474,794 | 437,529 | ||||||
| Interest and other financing costs, net |
444,510 | 472,305 | ||||||
| Income (loss) before income taxes |
30,284 | (34,776 | ) | |||||
| Provision (benefit) for income taxes |
(404 | ) | (27,865 | ) | ||||
| Net income (loss) |
$ | 30,688 | $ | (6,911 | ) | |||
ARAMARK CORPORATION AND SUBSIDIARIES
SELECTED CONSOLIDATED BALANCE SHEET DATA
(Unaudited)
(In Thousands)
| October 1, 2010 | October 2, 2009 (1) | |||||||
| Assets |
||||||||
| Current Assets |
$ | 1,758,072 | $ | 1,715,662 | ||||
| Property and Equipment, net |
1,072,584 | 1,160,511 | ||||||
| Goodwill |
4,550,702 | 4,526,376 | ||||||
| Other Intangible Assets |
1,913,634 | 2,056,337 | ||||||
| Other Assets |
926,923 | 867,767 | ||||||
| $ | 10,221,915 | $ | 10,326,653 | |||||
| Liabilities and Shareholder’s Equity |
||||||||
| Current Liabilities (2) |
$ | 1,948,553 | $ | 1,751,956 | ||||
| Long-Term Borrowings |
5,350,178 | 5,677,740 | ||||||
| Other Liabilities |
1,341,491 | 1,360,197 | ||||||
| Common Stock Subject to Repurchase |
184,736 | 176,395 | ||||||
| Total Shareholder’s Equity |
1,396,957 | 1,360,365 | ||||||
| $ | 10,221,915 | $ | 10,326,653 | |||||
Note:
| (1) | Certain fiscal 2009 balances have been reclassified to conform to the current year presentation. The effect was not material. |
| (2) | Includes $51.6 million and $43.9 million of current maturities of long-term borrowings as of October 1, 2010 and October 2, 2009, respectively. |
ARAMARK CORPORATION AND SUBSIDIARIES
SELECTED CONSOLIDATED CASH FLOW DATA
(Unaudited)
(In Thousands)
| Fiscal Year Ended October 1, 2010 |
Fiscal Year Ended October 2, 2009 |
|||||||
| Cash flows from operating activities: |
||||||||
| Net income (loss) |
$ | 30,688 | $ | (6,911 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
||||||||
| Depreciation and amortization |
508,875 | 503,123 | ||||||
| Income taxes deferred |
(45,553 | ) | (68,064 | ) | ||||
| Stock-based compensation expense |
21,300 | 25,396 | ||||||
| Changes in noncash working capital |
101,339 | 202,127 | ||||||
| Net change in proceeds from sale of receivables |
(14,585 | ) | (14,560 | ) | ||||
| Other operating activities |
31,946 | 66,124 | ||||||
| Net cash provided by operating activities |
634,010 | 707,235 | ||||||
| Cash flows from investing activities: |
||||||||
| Net purchases of property and equipment and client contract investments |
(264,078 | ) | (330,332 | ) | ||||
| Acquisitions and other investing activities |
(89,426 | ) | (134,465 | ) | ||||
| Net cash used in investing activities |
(353,504 | ) | (464,797 | ) | ||||
| Cash flows from financing activities: |
||||||||
| Net payment of long-term borrowings |
(323,304 | ) | (146,842 | ) | ||||
| Proceeds from issuance of common stock |
3,273 | 3,380 | ||||||
| Repurchase of stock |
(10,809 | ) | (22,989 | ) | ||||
| Other financing activities |
(13,381 | ) | (262 | ) | ||||
| Net cash used in financing activities |
(344,221 | ) | (166,713 | ) | ||||
| Increase (decrease) in cash and cash equivalents |
$ | (63,715 | ) | $ | 75,725 | |||
ARAMARK CORPORATION AND SUBSIDIARIES
SALES AND OPERATING INCOME BY SEGMENT
SUPPLEMENTAL DATA
(Unaudited)
(In Thousands)
| Three Months Ended October 1, 2010 |
Three Months Ended October 2, 2009 |
|||||||
| Sales |
||||||||
| Food and Support Services - North America |
$ | 2,185,529 | $ | 2,123,090 | ||||
| Food and Support Services - International |
601,950 | 580,370 | ||||||
| Uniform and Career Apparel |
370,535 | 369,084 | ||||||
| $ | 3,158,014 | $ | 3,072,544 | |||||
| Operating Income |
||||||||
| Food and Support Services - North America |
$ | 99,164 | $ | 98,340 | ||||
| Food and Support Services - International |
17,448 | 20,481 | ||||||
| Uniform and Career Apparel |
30,521 | 21,780 | ||||||
| 147,133 | 140,601 | |||||||
| Corporate |
(10,977 | ) | (9,601 | ) | ||||
| $ | 136,156 | $ | 131,000 | |||||
ARAMARK CORPORATION AND SUBSIDIARIES
SALES AND OPERATING INCOME BY SEGMENT
SUPPLEMENTAL DATA
(Unaudited)
(In Thousands)
| Fiscal Year Ended October 1, 2010 |
Fiscal Year Ended October 2, 2009 |
|||||||
| Sales |
||||||||
| Food and Support Services - North America |
$ | 8,605,170 | $ | 8,393,476 | ||||
| Food and Support Services - International |
2,487,227 | 2,326,746 | ||||||
| Uniform and Career Apparel |
1,479,279 | 1,577,647 | ||||||
| $ | 12,571,676 | $ | 12,297,869 | |||||
| Operating Income |
||||||||
| Food and Support Services - North America |
$ | 350,583 | $ | 349,348 | ||||
| Food and Support Services - International |
75,351 | 83,414 | ||||||
| Uniform and Career Apparel |
99,963 | 61,837 | ||||||
| 525,897 | 494,599 | |||||||
| Corporate |
(51,103 | ) | (57,070 | ) | ||||
| $ | 474,794 | $ | 437,529 | |||||