AMSCAN HOLDINGS INC

CIK:0001024729|SEC Filings

Comprehensive Income

3 Months Ended

Mar. 31, 2012

Note 6 – Comprehensive Income

Comprehensive income attributable to Amscan Holdings, Inc. consisted of the following:


	Three Months Ended March 31,
	2012			2011
Net income (loss) attributable to Amscan Holdings, Inc.	$	2,044		$	(2,563	)

Foreign currency adjustments		3,143			3,794
Impact of interest rate swap contracts, net of income tax expense of $- and $416		—			708
Impact of foreign exchange contracts, net of income tax benefit of $296 and $117		(506	)		(200	)

Comprehensive income attributable to Amscan Holdings, Inc.	$	4,681		$	1,739

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flows used in operating activities:
Net income (loss)	$ 2,084	$ (2,492)
Less: net income attributable to noncontrolling interests	40	71
Net income (loss) attributable to Amscan Holdings, Inc.	2,044	(2,563)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization expense	14,408	13,249
Amortization of deferred financing costs	1,126	1,197
Provision for doubtful accounts	394	361
Deferred income tax expense	40	261
Deferred rent	2,368	2,023
Undistributed income in unconsolidated joint venture	(412)	(313)
Loss on disposal of equipment	27	5
Equity based compensation	742	143
Changes in operating assets and liabilities, net of effects of acquired businesses:
Decrease in accounts receivable	6,445	1,660
Decrease in inventories	7,628	2,721
(Increase) decrease in prepaid expenses and other current assets	(4,625)	3,392
Decrease in accounts payable, accrued expenses and income taxes payable	(62,268)	(35,043)
Net cash used in operating activities	(32,083)	(12,907)
Cash flows used in investing activities:
Cash paid in connection with acquisitions	0	(56,420)
Capital expenditures	(8,066)	(10,977)
Proceeds from disposal of property and equipment	113	1
Net cash used in investing activities	(7,953)	(67,396)
Cash flows provided by financing activities:
Repayment of loans, notes payable and long-term obligations	(4,503)	(2,506)
Proceeds from loans, notes payable and long-term obligations	39,276	77,816
Distribution in lieu of dividend	0	2
Proceeds from exercise of stock options	0	28
Net cash provided by financing activities	34,773	75,340
Effect of exchange rate changes on cash and cash equivalents	186	2,730
Net decrease in cash and cash equivalents	(5,077)	(2,233)
Cash and cash equivalents at beginning of period	22,053	20,454
Cash and cash equivalents at end of period	16,976	18,221
Cash paid during the period
Interest	13,631	14,032
Income taxes	$ 7,534	$ 3,081

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 16,976	$ 22,053
Accounts receivable, net	121,657	127,122
Inventories, net	429,052	434,983
Prepaid expenses and other current assets	79,403	74,520
Total current assets	647,088	658,678
Property, plant and equipment, net	201,223	204,329
Goodwill	682,933	681,760
Trade names	132,793	132,722
Other intangible assets, net	44,548	47,084
Other assets, net	23,100	25,765
Total assets	1,731,685	1,750,338
Current liabilities:
Loans and notes payable	176,939	139,282
Accounts payable	84,654	119,305
Accrued expenses	104,416	125,875
Income taxes payable	33,056	39,273
Current portion of long-term obligations	8,215	8,666
Total current liabilities	407,280	432,401
Long-term obligations, excluding current portion	832,746	834,310
Deferred income tax liabilities	101,082	100,183
Deferred rent and other long-term liabilities	21,961	20,414
Total liabilities	1,363,069	1,387,308
Redeemable common securities (including 1,210.49 common shares issued and outstanding at March 31, 2012 and 1,210.49 common shares issued and outstanding at December 31, 2011)	52,456	36,939
Commitments and contingencies
Stockholders' equity:
Additional paid-in capital	271,676	286,451
Retained earnings	50,761	48,717
Accumulated other comprehensive loss	(8,717)	(11,354)
Amscan Holdings, Inc. stockholders' equity	313,720	323,814
Noncontrolling interests	2,440	2,277
Total stockholders' equity	316,160	326,091
Total liabilities, redeemable common securities and stockholders' equity	1,731,685	1,750,338
Class A common stock
Stockholders' equity:
Common stock value	0	0
Class B common stock
Stockholders' equity:
Common stock value	$ 0	$ 0