SUPPLEMENTAL CASH FLOW INFORMATION. Non-cash activities were conducted by the Company as follows: Operating activity Increase in accounts payable and accrued liabilities 232,347 147,023 Financing activity Issuance of common shares - 51,500 Investing activity Additions to exploration and evaluation assets (232,347 ) (198,523 )
SUPPLEMENTAL CASH FLOW INFORMATION. 758 --------- $ 16,309 ========= 162 -------- $ 548 ======== Interest paid.......................................... $ 358 $ 406 Income taxes paid...................................... 4 20 See notes to financial statements. PC CONNECTION, INC. PART I--FINANCIAL INFORMATION ITEM 1--FINANCIAL STATEMENTS NOTE 1--BASIS OF PRESENTATION The accompanying financial statements of PC Connection, Inc. ("PCC" or the "Company") have been prepared in accordance with generally accepted accounting principles. Such principles were applied on a basis consistent with those of the financial statements contained in the Company's registration statement filed with the Securities and Exchange Commission ("SEC") in connection with its initial public offering ("the Offering") (File No. 333-41171) on Form S-1. The accompanying financial statements should be read in conjunction with the financial statements contained in the Company's registration statement. In the opinion of management, the accompanying unaudited financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation. The operating results for the three month period ended March 31, 1998 may not be indicative of the results expected for any succeeding quarter or the entire year ending December 31, 1998. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results may differ from those estimates. Certain amounts in the prior year financial statements have been reclassified to conform to the current year presentation. NOTE 2--CASH AND CASH EQUIVALENTS The Company considers all highly liquid short-term investments with original maturities of 90 days or less to be cash equivalents. NOTE 3--RECAPITALIZATION AND STOCK SPLIT On February 4, 1998, the Company amended its Articles of Incorporation to increase the authorized shares of the Company's Series A Non-Voting Common Stock, $.01 par value per share, and Series B Voting Common Stock, $.01 par value per share, to 22,500,000 and 7,500,000 shares, respectively. The Company also, through a 1.310977-for-one stock split, increased the total number of Series A Non-Voting and Series B Voting shares issued and outstanding to 8,849,095 shares and 2,949,698 shares, respectively. The effect of this recapitalization and stock split has been reflected in the Com...
SUPPLEMENTAL CASH FLOW INFORMATION. CASH PAID
SUPPLEMENTAL CASH FLOW INFORMATION. All required cash payments for interest and income taxes were made by InfoCure on behalf of the Division.
SUPPLEMENTAL CASH FLOW INFORMATION. == 1995 1994 -------------------------------------------------------------------------------- Cash paid during the year for: Interest $ 634,910 403,799 Income taxes 688,574 125,864 ================================================================================ Supplemental disclosure of non-cash financing activities: The Company converted FCOA-Baltimore preferred stock (minority interest) of $400,000 to FCOA Acquisition Corp. common stock of $400,000 in 1995. The Company incurred a charge of $11,849 in 1995 and $91,568 in 1994 in lieu of interest on the subordinated debentures and the bridge loan. Accrued interest of $236,750 was repaid through the issuance of $236,750 of common stock in 1995. Capital lease obligations incurred and notes on vehicle purchases were $191,938 in 1995 and $188,748 in 1994. Accreted redemption on Series A convertible preferred stock was $254,085 in 1994.
SUPPLEMENTAL CASH FLOW INFORMATION. A summary of supplemental cash flow information follows: 1996 ---- 1995 ---- 1994 ---- Cash paid for - Interest.................................... $ 17,363 $ 15,303 $ 12,007 Income taxes................................ 23,857 21,793 16,608 Noncash investing activities - Liabilities assumed in connection with acquisition of businesses: Fair Cost value of assets acquired.............. in excess of $ 51,055 $ 50,218 $ 47,187 net assets acquired....................... 101,473 34,386 63,069 Cash paid.................................. (132,584) (69,760) (91,558) Common stock issued in connection with acquisitions.............................. (2,271) ------- ------- ------- Liabilities assumed........................... $ 17,673 $ 14,844 $ 18,698 3. BALANCE SHEET COMPONENTS ======= ======= ======= The components of inventories as of December 31, 1996 and 1995 were: 1996 1995 ---- ---- Raw materials..................................... $16,946 $ 13,978 Work in process................................... 14,909 15,434 Finished goods.................................... 65,661 71,640 ------- -------- Those inventories which were carried on a LIFO basis amounted to $62,068 and $57,409 at December 31, 1996 and 1995, respectively. The excess of current cost over LIFO inventory value and the impact on earnings of using the LIFO method are not material. The components of certain other balance sheet accounts as of December 31, 1996 and 1995 were: 1996 -------- 1995 -------- Receivables Customers.................................. $ 88,838 $ 71,424 Other...................................... Total..................................... 4,749 -------- 93,587 1,073 -------- 72,497 Less allowance for doubtful accounts....... Receivables - net......................... 2,387 -------- $ 91,200 ======== 2,159 -------- $ 70,338 ======== Property, plant and equipment, at cost Land and improvements...................... $ 8,090 $ 8,836 Buildings and improvements................. 55,988 51,708 Machinery and equipment.................... 139,769 130,518 Engineering drawings....................... 9,592 9,383 Office equipment........................... 21,857 16,074 Mobile equipment and motor vehicles 2,294 2,353 Construction in progress................... Total..................................... 1,058 -------- 238,648 2,386 -------- 221,258 Less accumulated depreciation and amortization.......................... 136,265 129,980 -------- -------- Intangible assets Cost in excess of net ...
SUPPLEMENTAL CASH FLOW INFORMATION. Cash paid during the years ended December 31, 1996 and 1995 for taxes were $3,800 (1996) and $0 (1995).
SUPPLEMENTAL CASH FLOW INFORMATION. Changes in non-cash working capital are comprised of the following:
SUPPLEMENTAL CASH FLOW INFORMATION. Supplemental cash flow information for cash and non-cash activities is as follows:
SUPPLEMENTAL CASH FLOW INFORMATION. Cash paid for income taxes and interest during the years ended December 31, 1997, 1996, and 1995 was as follows: 1997 1996 1995 ------ ------ (IN THOUSANDS) Income taxes paid, net.............................. $ (33) $ 41 $ 3 Interest............................................ 1,853 1,955 1,236 In addition, during the years ended December 31, 1997, 1996, and 1995, the Company had the following non-cash financing and investing activities: 1997 1996 1995 ------ ------ (IN THOUSANDS) Tax benefits of exercise of common stock options....... $ 7 $ 79 $ 279 Distribution of the biotechnology segment.............. -- -- 2,904 Treasury stock repurchased 20 -- 356 Tax benefit of license payment to former subsidiary.... -- (161) -- Receivable under royalty agreement..................... -- 1,000 -- Investment in IMX 951 -- --
