EX-99.1 3 ex99-1.htm Exhibit 99.1

In re  Farmland Industries, Inc

 

Case No. 02-50557

         A Missouri Corporation

 

 

 

 

 

 

 

 

 

MONTHLY OPERATING REPORT SUMMARY

FOR THE MONTH OF OCTOBER, 2003

REVENUE

Gross Income

 $      119,027,203.47 

Less Cost of Goods Sold

 $        96,825,872.37 

Materials

 $     96,814,078.23 

Direct Labor

Overhead  (Freight and Other)

 $           11,794.14 

Gross Profit

 $        22,201,331.10 

OPERATING EXPENSES

Owner/Officer-Draws/Salaries

 $                       -   

Other Employee Salaries

 $       3,420,724.94 

Advertising and Marketing

 $             4,734.72 

Insurance

 $          287,625.94 

Payroll Taxes

 $          221,069.47 

Lease and Rent

 $       1,008,237.51 

Telephone and Utlities

 $       3,741,456.77 

Attorney and other Professional Fees

 $       2,833,094.10 

UST Quarterly Fees

 $           10,000.00 

Other Expenses (includes other income)

 $     69,031,190.41

Total Operating Expenses

 $        80,558,133.86 

Net Income (Loss)

 $       (58,356,802.76)

CURRENT ASSETS

Accounts Receivable at end of month  (Does not include Intercompany)

 $        29,338,610.14

Increase (Decrease) in AR for month

 $       (16,797,049.76)

Inventory at end of month

 $        85,617,882.04 

Increase (Decrease) in Inventory for month

 $       (41,091,659.94)

Cash at end of the month

 $      286,355,213.50 

Increase (Decrease) in Cash for month

 $        11,863,772.13 

LIABILITIES

Increase (Decrease) in pre-petition debt

 $            322,699.56 

Increase (Decrease) in post-petition debt

 $           (602,554.82)

Taxes Payable:

Federal Payroll Taxes

 $           30,000.00 

State Payroll Taxes

 $                       -   

Local Payroll Taxes

 $                       -   

State Sales Taxes

 $         (283,659.26)

Real Estate and Personal

 $         (696,155.37)

Property Taxes  (Real Property)

 $      (1,553,536.95)

Other (see footnote 1)

 $      (1,983,874.75)

Total Taxes Payable

 $         (4,487,226.33)

 

Footnote 1

PRE-Fed MTR FUEL TAX-IC & SUBS (248001)

 $            (5,663.77)

PRE-ST MTR FUEL TAX PAY (248101)

 $                       -  

PRE-FED ENVIRON TAX PAY (249001)

 $                       -  

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $            (1,633.98)

USE TAX PAYABLE-AUTOMATIC FROM TAX PACK

 $               (115.18)

USE TAX PAYABLE-MANUAL ENTRIES

 $         (135,413.29)

FED HWY USE TAX PAY

 $                       -   

FED MTR FUEL TAX-EST LIAB

 $      (1,841,048.53)

ST MTR FUEL TAX PAY

 $                       -   

PRE-USE TAX PAY-MANUAL (245002&12)

 $                       -  

 $      (1,983,874.75)