Guarantor and Non-Guarantor Financial Information

3 Months Ended

12 Months Ended

Jul. 31, 2011

Apr. 30, 2011

Guarantor and Non-Guarantor Financial Information [Abstract]

Guarantor and Non-Guarantor Financial Information

Note P: Guarantor and Non-Guarantor Financial Information

The Company anticipates filing a registration statement on Form S-3 which, when such registration statement becomes effective, will register certain securities described therein, including debt securities which may be guaranteed by certain of the Company’s subsidiaries. The Company may sell debt securities pursuant to the registration statement and, if so, it is expected that such securities would be fully and unconditionally guaranteed, on a joint and several basis, by the following 100% directly or indirectly owned subsidiaries of the Company: J.M. Smucker LLC and The Folgers Coffee Company (the “subsidiary guarantors”). Therefore, the Company is providing the following condensed consolidating financial information for the Company, the subsidiary guarantors, and the non-guarantor subsidiaries. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Company’s wholly-owned subsidiary guarantors and non-guarantor subsidiaries. The Company has accounted for investments in subsidiaries under the equity method.

CONDENSED STATEMENTS OF CONSOLIDATED INCOME

Quarter Ended July 31, 2011

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations			Consolidated
Net sales	$	917,109		$	347,488		$	753,389		$	(829,103	)	$	1,188,883
Cost of products sold		780,585			318,295			484,957			(826,038	)		757,799
Gross Profit		136,524			29,193			268,432			(3,065	)		431,084
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		59,315			12,202			159,617			0			231,134
Amortization		1,297			0			18,938			0			20,235
Other operating expense (income) — net		67			(498	)		(557	)		0			(988	)
Operating Income		75,845			17,489			90,434			(3,065	)		180,703
Interest (expense) income — net		(15,374	)		975			(721	)		0			(15,120	)
Other income — net		791			117			335			0			1,243
Equity in net earnings of subsidiaries		69,586			46,319			17,608			(133,513	)		0
Income Before Income Taxes		130,848			64,900			107,656			(136,578	)		166,826
Income taxes		19,325			323			35,655			0			55,303
Net Income	$	111,523		$	64,577		$	72,001		$	(136,578	)	$	111,523

Quarter Ended July 31, 2010

	The J.M. Smucker			Subsidiary		Non-Guarantor
	Company (Parent)			Guarantors		Subsidiaries			Eliminations			Consolidated
Net sales	$	822,307		$	619,257	$	893,326		$	(1,287,578	)	$	1,047,312
Cost of products sold		672,077			550,930		684,019			(1,268,149	)		638,877
Gross Profit		150,230			68,327		209,307			(19,429	)		408,435
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		47,598			28,450		147,973			0			224,021
Amortization		1,297			16,168		1,032			0			18,497
Other operating (income) expense — net		(280	)		209		821			0			750
Operating Income		101,615			23,500		59,481			(19,429	)		165,167
Interest (expense) income — net		(16,155	)		975		(926	)		0			(16,106	)
Other (expense) income — net		(79	)		158		614			0			693
Equity in net earnings of subsidiaries		36,661			19,262		17,260			(73,183	)		0
Income Before Income Taxes		122,042			43,895		76,429			(92,612	)		149,754
Income taxes		19,161			2,438		25,274			0			46,873
Net Income	$	102,881		$	41,457	$	51,155		$	(92,612	)	$	102,881

CONDENSED CONSOLIDATED BALANCE SHEETS

July 31, 2011

	The J.M. Smucker		Subsidiary		Non-Guarantor
	Company (Parent)		Guarantors		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	75	$	0	$	102,400	$	0		$	102,475
Inventories		0		217,662		1,018,925		(22,766	)		1,213,821
Other current assets		340,729		7,781		74,966		0			423,476
Total Current Assets		340,804		225,443		1,196,291		(22,766	)		1,739,772
PROPERTY, PLANT, AND EQUIPMENT, NET		202,604		328,217		394,866		0			925,687
INVESTMENTS IN SUBSIDIARIES AND INTERCOMPANY		5,493,671		825,624		680,792		(7,000,087	)		0
OTHER NONCURRENT ASSETS
Goodwill		976,618		0		1,927,095		0			2,903,713
Other intangible assets, net		439,734		0		2,693,027		0			3,132,761
Other noncurrent assets		61,965		12,474		5,651		0			80,090
Total Other Noncurrent Assets		1,478,317		12,474		4,625,773		0			6,116,564
	$	7,515,396	$	1,391,758	$	6,897,722	$	(7,022,853	)	$	8,782,023
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES	$	570,895	$	98,619	$	205,720	$	0		$	875,234
NONCURRENT LIABILITIES
Long-term debt		1,318,489		0		0		0			1,318,489
Deferred income taxes		115,911		0		922,408		0			1,038,319
Other noncurrent liabilities		161,847		16,439		23,441		0			201,727
Total Noncurrent Liabilities		1,596,247		16,439		945,849		0			2,558,535
SHAREHOLDERS’ EQUITY		5,348,254		1,276,700		5,746,153		(7,022,853	)		5,348,254
	$	7,515,396	$	1,391,758	$	6,897,722	$	(7,022,853	)	$	8,782,023

April 30, 2011

	The J.M. Smucker		Subsidiary		Non-Guarantor
	Company (Parent)		Guarantors		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	206,845	$	0	$	113,000	$	0		$	319,845
Inventories		0		182,531		700,750		(19,702	)		863,579
Other current assets		364,377		8,190		81,008		0			453,575
Total Current Assets		571,222		190,721		894,758		(19,702	)		1,636,999
PROPERTY, PLANT, AND EQUIPMENT, NET		193,321		305,519		369,042		0			867,882
INVESTMENTS IN SUBSIDIARIES AND INTERCOMPANY		4,872,622		802,936		1,209,603		(6,885,161	)		0
OTHER NONCURRENT ASSETS
Goodwill		981,606		0		1,831,140		0			2,812,746
Other intangible assets, net		440,174		3,116		2,496,720		0			2,940,010
Other noncurrent assets		50,012		15,106		1,830		0			66,948
Total Other Noncurrent Assets		1,471,792		18,222		4,329,690		0			5,819,704
	$	7,108,957	$	1,317,398	$	6,803,093	$	(6,904,863	)	$	8,324,585
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES	$	234,262	$	81,239	$	167,175	$	0		$	482,676
NONCURRENT LIABILITIES
Long-term debt		1,304,039		0		0		0			1,304,039
Deferred income taxes		115,985		0		926,838		0			1,042,823
Other noncurrent liabilities		162,308		16,447		23,929		0			202,684
Total Noncurrent Liabilities		1,582,332		16,447		950,767		0			2,549,546
SHAREHOLDERS’ EQUITY		5,292,363		1,219,712		5,685,151		(6,904,863	)		5,292,363
	$	7,108,957	$	1,317,398	$	6,803,093	$	(6,904,863	)	$	8,324,585

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS

Three Months Ended July 31, 2011

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations		Consolidated
Net cash provided by (used for) operating activities	$	83,115		$	5,393		$	(146,746	)	$	0	$	(58,238	)
INVESTING ACTIVITIES
Business acquired, net of cash acquired		0			0			(362,846	)		0		(362,846	)
Additions to property, plant, and equipment		(15,952	)		(32,150	)		(19,530	)		0		(67,632	)
Sale and maturity of marketable securities		18,600			0			0			0		18,600
Proceeds from disposal of property, plant, and equipment		9			9			112			0		130
Other — net		2			(1	)		(19	)		0		(18	)
Net cash provided by (used for) investing activities		2,659			(32,142	)		(382,283	)		0		(411,766	)
FINANCING ACTIVITIES
Revolving credit agreement — net		306,700			0			0			0		306,700
Quarterly dividends paid		(50,159	)		0			0			0		(50,159	)
Purchase of treasury shares		(5,385	)		0			0			0		(5,385	)
Proceeds from stock option exercises		242			0			0			0		242
Intercompany		(546,476	)		26,749			519,727			0		0
Other — net		2,534			0			0			0		2,534
Net cash (used for) provided by financing activities		(292,544	)		26,749			519,727			0		253,932
Effect of exchange rate changes		0			0			(1,298	)		0		(1,298	)
Net decrease in cash and cash equivalents		(206,770	)		0			(10,600	)		0		(217,370	)
Cash and cash equivalents at beginning of period		206,845			0			113,000			0		319,845
Cash and cash equivalents at end of period	$	75		$	0		$	102,400		$	0	$	102,475

Three Months Ended July 31, 2010

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations		Consolidated
Net cash (used for) provided by operating activities	$	(16,873	)	$	2,977		$	(13,342	)	$	0	$	(27,238	)
INVESTING ACTIVITIES
Additions to property, plant, and equipment		(13,721	)		(2,584	)		(10,641	)		0		(26,946	)
Purchases of marketable securities		(57,037	)		0			0			0		(57,037	)
Proceeds from disposal of property, plant, and equipment		0			276			14			0		290
Other — net		(11	)		36			15			0		40
Net cash used for investing activities		(70,769	)		(2,272	)		(10,612	)		0		(83,653	)
FINANCING ACTIVITIES
Proceeds from long-term debt		400,000			0			0			0		400,000
Quarterly dividends paid		(47,594	)		0			0			0		(47,594	)
Purchase of treasury shares		(5,033	)		0			0			0		(5,033	)
Proceeds from stock option exercises		1,325			0			0			0		1,325
Intercompany		(27,469	)		(705	)		28,174			0		0
Other — net		2,213			0			0			0		2,213
Net cash provided by (used for) financing activities		323,442			(705	)		28,174			0		350,911
Effect of exchange rate changes		0			0			(817	)		0		(817	)
Net increase in cash and cash equivalents		235,800			0			3,403			0		239,203
Cash and cash equivalents at beginning of period		217,730			0			65,840			0		283,570
Cash and cash equivalents at end of period	$	453,530		$	0		$	69,243		$	0	$	522,773

Note R: Guarantor and Non-Guarantor Financial Information

The Company anticipates filing a registration statement on Form S-3 which, when such registration statement becomes effective, will register certain securities described therein, including debt securities which may be guaranteed by certain of the Company’s subsidiaries. The Company may sell debt securities pursuant to the registration statement and, if so, it is expected that such securities would be fully and unconditionally guaranteed, on a joint and several basis, by the following 100% directly or indirectly owned subsidiaries of the Company: J.M. Smucker LLC and The Folgers Coffee Company (the “subsidiary guarantors”). Therefore, the Company is providing the following condensed consolidating financial information for the Company, the subsidiary guarantors, and the non-guarantor subsidiaries. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Company’s wholly-owned subsidiary guarantors and non-guarantor subsidiaries. The Company has accounted for investments in subsidiaries under the equity method.

CONDENSED STATEMENTS OF CONSOLIDATED INCOME

Year Ended April 30, 2011

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations			Consolidated
Net sales	$	3,880,940		$	2,805,614		$	3,759,833		$	(5,620,644	)	$	4,825,743
Cost of products sold		3,196,825			2,546,492			2,884,851			(5,600,942	)		3,027,226
Gross Profit		684,115			259,122			874,982			(19,702	)		1,798,517
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		216,731			79,263			626,182			0			922,176
Amortization and impairment charges		5,188			64,675			21,580			0			91,443
Other operating (income) expense — net		(665	)		(2,599	)		3,890			0			626
Operating Income		462,861			117,783			223,330			(19,702	)		784,272
Interest (expense) income — net		(67,687	)		3,400			(2,795	)		0			(67,082	)
Other (expense) income — net		(1,338	)		1,735			(423	)		0			(26	)
Equity in net earnings of subsidiaries		203,115			83,879			67,256			(354,250	)		0
Income Before Income Taxes		596,951			206,797			287,368			(373,952	)		717,164
Income taxes		117,469			21,838			98,375			0			237,682
Net Income	$	479,482		$	184,959		$	188,993		$	(373,952	)	$	479,482

Year Ended April 30, 2010

	The J.M. Smucker			Subsidiary		Non-Guarantor
	Company (Parent)			Guarantors		Subsidiaries			Eliminations			Consolidated
Net sales	$	3,675,770		$	2,899,461	$	3,723,605		$	(5,693,547	)	$	4,605,289
Cost of products sold		3,259,807			2,383,363		2,858,293			(5,682,864	)		2,818,599
Gross Profit		415,963			516,098		865,312			(10,683	)		1,786,690
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		193,036			107,407		613,311			0			913,754
Amortization and impairment charges		10,200			65,681		9,434			0			85,315
Other operating (income) expense — net		(22,546	)		7,083		12,175			0			(3,288	)
Operating Income		235,273			335,927		230,392			(10,683	)		790,909
Interest (expense) income — net		(53,264	)		12,429		(21,559	)		0			(62,394	)
Other income (expense) — net		151			17,609		(15,522	)		0			2,238
Equity in net earnings of subsidiaries		393,208			61,459		35,223			(489,890	)		0
Income Before Income Taxes		575,368			427,424		228,534			(500,573	)		730,753
Income taxes		81,230			77,280		78,105			0			236,615
Net Income	$	494,138		$	350,144	$	150,429		$	(500,573	)	$	494,138

Year Ended April 30, 2009

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations			Consolidated
Net sales	$	2,468,942		$	1,708,868		$	2,816,321		$	(3,236,198	)	$	3,757,933
Cost of products sold		2,080,012			1,552,147			2,120,199			(3,245,854	)		2,506,504
Gross Profit		388,930			156,721			696,122			9,656			1,251,429
Selling, distribution, and administrative expenses, restructuring, and merger and integration costs		150,559			100,249			505,652			0			756,460
Amortization and impairment charges		3,891			33,417			3,006			0			40,314
Other operating expense (income) — net		1,296			2,328			(1,244	)		0			2,380
Operating Income		233,184			20,727			188,708			9,656			452,275
Interest (expense) income — net		(39,865	)		(12,435	)		(3,185	)		0			(55,485	)
Other income (expense) — net		550			900			(2,175	)		0			(725	)
Equity in net earnings of subsidiaries		133,053			101,361			0			(234,414	)		0
Income Before Income Taxes		326,922			110,553			183,348			(224,758	)		396,065
Income taxes		60,969			1,481			67,662			0			130,112
Net Income	$	265,953		$	109,072		$	115,686		$	(224,758	)	$	265,953

CONDENSED CONSOLIDATED BALANCE SHEETS

April 30, 2011

	The J.M. Smucker		Subsidiary		Non-Guarantor
	Company (Parent)		Guarantors		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	206,845	$	0	$	113,000	$	0		$	319,845
Inventories		0		182,531		700,750		(19,702	)		863,579
Other current assets		364,377		8,190		81,008		0			453,575
Total Current Assets		571,222		190,721		894,758		(19,702	)		1,636,999
PROPERTY, PLANT, AND EQUIPMENT, NET		193,321		305,519		369,042		0			867,882
INVESTMENTS IN SUBSIDIARIES AND INTERCOMPANY		4,872,622		802,936		1,209,603		(6,885,161	)		0
OTHER NONCURRENT ASSETS
Goodwill		981,606		0		1,831,140		0			2,812,746
Other intangible assets, net		440,174		3,116		2,496,720		0			2,940,010
Other noncurrent assets		50,012		15,106		1,830		0			66,948
Total Other Noncurrent Assets		1,471,792		18,222		4,329,690		0			5,819,704
	$	7,108,957	$	1,317,398	$	6,803,093	$	(6,904,863	)	$	8,324,585
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES	$	234,262	$	81,239	$	167,175	$	0		$	482,676
NONCURRENT LIABILITIES
Long-term debt		1,304,039		0		0		0			1,304,039
Deferred income taxes		115,985		0		926,838		0			1,042,823
Other noncurrent liabilities		162,308		16,447		23,929		0			202,684
Total Noncurrent Liabilities		1,582,332		16,447		950,767		0			2,549,546
SHAREHOLDERS’ EQUITY		5,292,363		1,219,712		5,685,151		(6,904,863	)		5,292,363
	$	7,108,957	$	1,317,398	$	6,803,093	$	(6,904,863	)	$	8,324,585

April 30, 2010

	The J.M. Smucker		Subsidiary			Non-Guarantor
	Company (Parent)		Guarantors			Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	217,730	$	0		$	65,840	$	0		$	283,570
Inventories		0		167,988			486,629		322			654,939
Other current assets		211,452		18,159			55,510		0			285,121
Total Current Assets		429,182		186,147			607,979		322			1,223,630
PROPERTY, PLANT, AND EQUIPMENT, NET		150,008		290,285			418,020		0			858,313
INVESTMENTS IN SUBSIDIARIES AND INTERCOMPANY		4,693,160		(2,188,002	)		155,519		(2,660,677	)		0
OTHER NONCURRENT ASSETS
Goodwill		981,612		1,644,076			182,042		0			2,807,730
Other intangible assets, net		441,599		2,408,724			176,192		0			3,026,515
Other noncurrent assets		41,519		13,853			3,293		0			58,665
Total Other Noncurrent Assets		1,464,730		4,066,653			361,527		0			5,892,910
	$	6,737,080	$	2,355,083		$	1,543,045	$	(2,660,355	)	$	7,974,853
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES	$	277,556	$	74,897		$	126,444	$	0		$	478,897
NONCURRENT LIABILITIES
Long-term debt		900,000		0			0		0			900,000
Deferred income taxes		106,722		912,549			82,235		0			1,101,506
Other noncurrent liabilities		126,482		16,293			25,355		0			168,130
Total Noncurrent Liabilities		1,133,204		928,842			107,590		0			2,169,636
SHAREHOLDERS’ EQUITY		5,326,320		1,351,344			1,309,011		(2,660,355	)		5,326,320
	$	6,737,080	$	2,355,083		$	1,543,045	$	(2,660,355	)	$	7,974,853

CONDENSED STATEMENTS OF CONSOLIDATED CASH FLOWS

Year Ended April 30, 2011

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations		Consolidated
Net Cash Provided by Operating Activities	$	212,428		$	92,965		$	86,169		$	0	$	391,562
INVESTING ACTIVITIES
Additions to property, plant, and equipment		(59,072	)		(53,416	)		(67,592	)		0		(180,080	)
Purchases of marketable securities		(75,637	)		0			0			0		(75,637	)
Sale and maturities of marketable securities		57,100			0			0			0		57,100
Proceeds from disposal of property, plant, and equipment		1,081			305			4,444			0		5,830
Other — net		(43	)		37			(120	)		0		(126	)
Net Cash Used for Investing Activities		(76,571	)		(53,074	)		(63,268	)		0		(192,913	)
FINANCING ACTIVITIES
Repayments of long-term debt		(10,000	)		0			0			0		(10,000	)
Proceeds from long-term debt		400,000			0			0			0		400,000
Quarterly dividends paid		(194,024	)		0			0			0		(194,024	)
Purchase of treasury shares		(389,135	)		0			0			0		(389,135	)
Proceeds from stock option exercises		14,525			0			0			0		14,525
Intercompany		24,152			(39,891	)		15,739			0		0
Other — net		7,740			0			475			0		8,215
Net Cash (Used for) Provided by Financing Activities		(146,742	)		(39,891	)		16,214			0		(170,419	)
Effect of exchange rate changes on cash		0			0			8,045			0		8,045
Net (decrease) increase in cash and cash equivalents		(10,885	)		0			47,160			0		36,275
Cash and cash equivalents at beginning of year		217,730			0			65,840			0		283,570
Cash and Cash Equivalents at End of Year	$	206,845		$	0		$	113,000		$	0	$	319,845

Year Ended April 30, 2010

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations		Consolidated
Net Cash Provided by (Used for) Operating Activities	$	499,197		$	218,064		$	(3,783	)	$	0	$	713,478
INVESTING ACTIVITIES
Additions to property, plant, and equipment		(41,148	)		(62,324	)		(33,511	)		0		(136,983	)
Proceeds from sale of businesses		19,554			0			0			0		19,554
Sale and maturities of marketable securities		13,519			0			0			0		13,519
Proceeds from disposal of property, plant, and equipment		0			185			20			0		205
Other — net		(706	)		0			(32	)		0		(738	)
Net Cash Used for Investing Activities		(8,781	)		(62,139	)		(33,523	)		0		(104,443	)
FINANCING ACTIVITIES
Repayment of bank note payable		0			(350,000	)		0			0		(350,000	)
Repayments of long-term debt		(275,000	)		0			0			0		(275,000	)
Quarterly dividends paid		(166,224	)		0			0			0		(166,224	)
Purchase of treasury shares		(5,569	)		0			0			0		(5,569	)
Proceeds from stock option exercises		6,413			0			0			0		6,413
Intercompany		(258,696	)		194,075			64,621			0		0
Other — net		2,393			0			(561	)		0		1,832
Net Cash (Used for) Provided by Financing Activities		(696,683	)		(155,925	)		64,060			0		(788,548	)
Effect of exchange rate changes on cash		0			0			6,390			0		6,390
Net (decrease) increase in cash and cash equivalents		(206,267	)		0			33,144			0		(173,123	)
Cash and cash equivalents at beginning of year		423,997			0			32,696			0		456,693
Cash and Cash Equivalents at End of Year	$	217,730		$	0		$	65,840		$	0	$	283,570

Year Ended April 30, 2009

	The J.M. Smucker			Subsidiary			Non-Guarantor
	Company (Parent)			Guarantors			Subsidiaries			Eliminations		Consolidated
Net Cash (Used for) Provided by Operating Activities	$	(7,135	)	$	69,486		$	384,642		$	0	$	446,993
INVESTING ACTIVITIES
Business acquired, net of cash acquired		(19,404	)		(58,096	)		165			0		(77,335	)
Additions to property, plant, and equipment		(24,727	)		(42,903	)		(41,277	)		0		(108,907	)
Sale and maturities of marketable securities		3,013			0			0			0		3,013
Proceeds from disposal of property, plant, and equipment		384			22			394			0		800
Other — net		5,448			0			0			0		5,448
Net Cash Used for Investing Activities		(35,286	)		(100,977	)		(40,718	)		0		(176,981	)
FINANCING ACTIVITIES
Proceeds from long-term debt		400,000			0			0			0		400,000
Quarterly dividends paid		(110,668	)		0			0			0		(110,668	)
Special dividends paid		(274,208	)		0			0			0		(274,208	)
Purchase of treasury shares		(4,025	)		0			0			0		(4,025	)
Proceeds from stock option exercises		1,976			0			0			0		1,976
Intercompany		291,201			23,659			(314,860	)		0		0
Other — net		4,210			(4,684	)		0			0		(474	)
Net Cash Provided by (Used for) Financing Activities		308,486			18,975			(314,860	)		0		12,601
Effect of exchange rate changes on cash		0			0			2,539			0		2,539
Net increase (decrease) in cash and cash equivalents		266,065			(12,516	)		31,603			0		285,152
Cash and cash equivalents at beginning of year		157,932			12,516			1,093			0		171,541
Cash and Cash Equivalents at End of Year	$	423,997		$	0		$	32,696		$	0	$	456,693