AEROFLEX HOLDING CORP.

CIK:0001487990|SEC Filings

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income (Loss), Net Of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

11.

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss), net of tax, for the nine months ended March 31, 2014 were as follows:

	Net Minimum Pension Liability		Net Cumulative Translation Adjustment		Total
	(In thousands)

Accumulated other comprehensive income (loss) at June 30, 2013	$	(1,403)	$	(42,003)	$	(43,406)

Other comprehensive income (loss)
Other comprehensive income (loss) before reclassifications		48		14,846		14,894
Amounts reclassified from accumulated other comprehensive income		26		-		26
Total other comprehensive income (loss)		74		14,846		14,920

Accumulated other comprehensive income (loss) at March 31, 2014	$	(1,329)	$	(27,157)	$	(28,486)

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 16,960	$ (22,783)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	43,119	59,880
Gain on disposal of operations	(14,102)	0
Impairment of other long-lived assets	0	1,340
Special accounts receivable reserve	0	2,529
Write-off of deferred financing costs	0	824
Deferred income taxes	(10,266)	(17,291)
Share-based compensation	3,632	2,610
Amortization of deferred financing costs	1,292	1,648
Other, net	217	606
Change in operating assets and liabilities, net of effects of acquisition and sale of businesses:
Decrease (increase) in accounts receivable	18,215	8,868
Decrease (increase) in inventories	(12,417)	(2,362)
Decrease (increase) in prepaid expenses and other assets	(969)	1,758
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(18,841)	5,473
Net cash provided by (used in) operating activities	26,840	43,100
Cash flows from investing activities:
Payments for purchase of business, net of cash acquired	(23,763)	0
Net proceeds from the sale of business	19,243	0
Proceeds from the sale of building held for sale	0	1,582
Capital expenditures	(16,980)	(14,311)
Other, net	198	572
Net cash provided by (used in) investing activities	(21,302)	(12,157)
Cash flows from financing activities:
Debt repayments	0	(35,000)
Other, net	(1,758)	(641)
Net cash provided by (used in) financing activities	(1,758)	(35,641)
Effect of exchange rate changes on cash and cash equivalents	4,044	(1,840)
Net increase (decrease) in cash and cash equivalents	7,824	(6,538)
Cash and cash equivalents at beginning of period	39,424	41,324
Cash and cash equivalents at end of period	$ 47,248	$ 34,786

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2013
Current assets:
Cash and cash equivalents	$ 47,248	$ 39,424
Accounts receivable, less allowance for doubtful accounts of $3,438 and $3,422	133,141	151,163
Inventories	171,341	156,516
Deferred income taxes	34,499	35,491
Prepaid expenses and other current assets	11,645	9,374
Total current assets	397,874	391,968
Property, plant and equipment, net of accumulated depreciation of $125,344 and $122,479	103,591	101,546
Deferred financing costs, net	10,288	11,580
Other assets	31,002	31,886
Intangible assets with definite lives, net	55,530	65,552
Intangible assets with indefinite lives	113,156	110,779
Goodwill	326,402	315,643
Total assets	1,037,843	1,028,954
Current liabilities:
Accounts payable	26,680	34,768
Advance payments by customers and deferred revenue	29,213	23,490
Income taxes payable	5,486	12,003
Accrued payroll expenses	20,949	21,694
Accrued expenses and other current liabilities	34,761	37,184
Total current liabilities	117,089	129,139
Long-term debt	587,000	587,000
Deferred income taxes	58,447	67,296
Other long-term liabilities	19,046	23,061
Total liabilities	781,582	806,496
Stockholders' equity:
Preferred stock, par value $.01 per share; 50,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, par value $.01 per share; 300,000,000 shares authorized, 85,208,703 and 84,936,582 shares issued and outstanding	852	849
Additional paid-in capital	653,870	651,950
Accumulated other comprehensive income (loss)	(28,486)	(43,406)
Accumulated deficit	(369,975)	(386,935)
Total stockholders' equity	256,261	222,458
Total liabilities and stockholders' equity	$ 1,037,843	$ 1,028,954