Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - Archipelago Learning, Inc. | d80413e10vk.htm |
| EX-32.1 - EX-32.1 - Archipelago Learning, Inc. | d80413exv32w1.htm |
| EX-31.2 - EX-31.2 - Archipelago Learning, Inc. | d80413exv31w2.htm |
| EX-31.1 - EX-31.1 - Archipelago Learning, Inc. | d80413exv31w1.htm |
| EX-23.1 - EX-23.1 - Archipelago Learning, Inc. | d80413exv23w1.htm |
| EX-99.2 - EX-99.2 - Archipelago Learning, Inc. | d80413exv99w2.htm |
| EX-21.1 - EX-21.1 - Archipelago Learning, Inc. | d80413exv21w1.htm |
Exhibit 99.1
Schedule I Condensed Financial Information of Registrant
ARCHIPELAGO LEARNING, INC.
BALANCE SHEET
| As of December 31, | ||||||||
| 2010 | 2009 | |||||||
| (in thousands) | ||||||||
Assets |
||||||||
Cash and cash equivalents |
$ | 15,373 | $ | 48,655 | ||||
Deferred tax assets |
2,875 | — | ||||||
Receivable from subsidiary |
200 | 16 | ||||||
Note receivable from subsidiary |
25,650 | 25,650 | ||||||
Investment in subsidiaries |
66,173 | 13,184 | ||||||
Total assets |
$ | 110,271 | $ | 87,505 | ||||
Liabilities and Equity |
||||||||
Taxes payable |
$ | — | $ | 540 | ||||
Due to subsidiary |
— | 3,955 | ||||||
Long-term deferred tax liabilities |
2,954 | — | ||||||
Total liabilities |
2,954 | 4,495 | ||||||
Commitments and contingencies |
||||||||
Stockholders’ Equity: |
||||||||
Preferred stock ($0.001 par value,
10,000,000 shares authorized, none
issued and outstanding at December 31,
2010 and 2009) |
— | — | ||||||
Common stock ($0.001 par value,
200,000,000 shares authorized,
26,354,198 and 25,110,255 shares issued and
outstanding at December 31, 2010 and 2009, respectively) |
26 | 25 | ||||||
Additional paid-in capital |
95,395 | 76,072 | ||||||
Accumulated other comprehensive income |
1,531 | — | ||||||
Retained earnings |
10,365 | 6,913 | ||||||
Total stockholders’ equity |
107,317 | 83,010 | ||||||
Total liabilities and equity |
$ | 110,271 | $ | 87,505 | ||||
STATEMENT OF OPERATIONS
| For the period from | ||||||||
| inception at August 4, | ||||||||
| For the Year Ended | 2009 through | |||||||
| December 31, 2010 | December 31, 2009 | |||||||
| (in thousands) | ||||||||
Interest income |
$ | 253 | $ | 25 | ||||
Gain (loss) on investment in subsidiaries |
3,299 | (1,106 | ) | |||||
Net income before tax |
3,552 | (1,081 | ) | |||||
Provision for income tax |
100 | — | ||||||
Net income |
$ | 3,452 | $ | (1,081 | ) | |||
STATEMENT OF CASH FLOWS
| For the period from | ||||||||
| inception at August | ||||||||
| For the Year Ended | 4, 2009 through | |||||||
| December 31, 2010 | December 31, 2009 | |||||||
| (in thousands) | ||||||||
Cash flows from operating activities |
||||||||
Net income (loss) |
$ | 3,452 | $ | (1,081 | ) | |||
Adjustments to reconcile net income to net cash
provided by operating activities: |
||||||||
Accrued interest on intercompany note |
(182 | ) | — | |||||
Deferred
income taxes |
79 | — | ||||||
(Gain) loss
on investment in subsidiary |
(3,299 | ) | 1,106 | |||||
Changes in operating assets and liabilities: |
||||||||
Investment in subsidiaries |
(32,792 | ) | (16 | ) | ||||
Change in
taxes payable |
(540 | ) | — | |||||
Net cash
provided by (used in) operating activities |
(33,282 | ) | 9 | |||||
Cash flows from investing activities |
||||||||
Net cash used in investing activities |
— | — | ||||||
Cash flows from financing activities |
||||||||
Contribution
from member in Reorganization |
— | 693 | ||||||
Stock offering |
— | 47,953 | ||||||
Net cash provided by financing activities |
— | 48,646 | ||||||
Net change in cash and cash equivalents |
(33,282 | ) | 48,655 | |||||
Beginning of period |
48,655 | — | ||||||
End of period |
$ | 15,373 | $ | 48,655 | ||||