UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
(Exact Name of Registrant as Specified in its Charter)
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.)
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area code:
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.03. | Bankruptcy or Receivership |
As previously disclosed, on November 12, 2019 (the “Petition Date”), Dean Foods Company, a company organized under the laws of the State of Delaware (the “Company”), and certain of its subsidiaries (together with the Company, the “Debtors”) each filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”). The Debtors’ chapter 11 cases have been consolidated for procedural purposes only and are being jointly administered under the caption In re Southern Foods Group, LLC, et al., Case No. 19-36313 DRJ (jointly administered) (the “Chapter 11 Cases”). On March 17, 2021 (the “Confirmation Date”), the Bankruptcy Court entered an order [D.I. 3565] (the “Confirmation Order”) approving and confirming the First Amended Joint Chapter 11 Plan of Liquidation of Southern Foods Group, LLC, Dean Foods Company, and Their Debtor Affiliates (as may be amended, supplemented, or modified in accordance with its terms, and including all exhibits, schedules, supplements, appendices, annexes, and attachments thereto, the “Plan”). All capitalized terms used herein but not otherwise defined in this Current Report on Form 8-K have the meanings set forth in the Confirmation Order or the Plan.
| Item 8.01. | Other Events |
During the course of the Chapter 11 Cases, the Debtors, in accordance with the Federal Rules of Bankruptcy Procedures and the Office of the United States Trustee’s Financial Reporting Requirements for Chapter 11 Cases, have filed consolidated and unaudited monthly operating reports (each, a “Monthly Operating Report”) with the Bankruptcy Court. A copy of the Monthly Operating Report filed on April 26, 2021, detailing the Debtors’ results from operations from the Petition Date through March 31, 2021, is contained in the attached Exhibit 99.1 and is incorporated herein by reference.
The filing of this Current Report on Form 8-K (including Exhibits hereto) shall not be deemed an admission as to the materiality of any information herein.
Item 9.01. Financial Statements and Exhibits
| Exhibit No. | Description |
| 99.1 | Debtor-in-Possession Monthly Operating Report for Filing Period Ending 3/31/2021 [D.I. 3655], dated April 26, 2021, as filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Forward-Looking Statements
This Current Report on Form 8-K and the Monthly Operating Report may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein and in the Monthly Operating Report that are not historical facts are forward-looking statements. Forward-looking statements are typically identified by use of terms such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” or “continue,” the negative of such terms or other comparable terminology, although some forward-looking statements may be expressed differently.
All forward-looking statements speak only as of the date of this Current Report on Form 8-K. We do not intend to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by law. These cautionary statements qualify all forward-looking statements attributable to us or persons acting on our behalf.
Cautionary Statement Regarding the Monthly Operating Report
The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report is limited in scope, covers a limited time period and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was not prepared in accordance with generally accepted accounting principles, is in a format prescribed by applicable bankruptcy laws or rules, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 29, 2021
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DEAN FOODS COMPANY.
| ||
| By: | /s/ Daniel H. Golden | |
| Daniel H. Golden | ||
| Authorized Officer | ||
Exhibit 99.1
SOUTHERN DISTRICT OF TEXAS
HOUSTON DIVISION
| CASE NAME: (1) | Southern Foods Group, LLC d/b/a Dean Foods | PETITION DATE: 11/12/2019 |
| CASE NUMBER: | (19-36313) | |
| March YEAR 2021 |
MONTHLY OPERATING REPORT SUMMARY FOR MONTH
(in thousands)
2019
| MONTH | Dec. 1 - Dec. 31 | |
| REVENUES (MOR-6) | $ 639,053 | |
| INC. (LOSS) BEFORE INT; DEPREC./TAX: IMPAIRMENT (MOR-6) | (175,379) | |
| NET INCOME (LOSS) (MOR-6) | (203,755) | |
| PAYMENTS TO INSIDERS (MOR-9) | (541) | * |
| PAYMENTS TO PROFESSIONALS (MOR-9) | (4,321) | * |
| TOTAL DISBURSEMENTS (MOR-7) | (995,018) | * |
*December payments to insiders, professionals, and total disbursements above cover the stub period from 11/12/19 - 12/31/19.
2020
| MONTH | Jan. 1 to Jan, 31 |
Feb. 1 to Feb. 29 |
Mar. 1 to Mar. 31 |
Apr. 1 to Apr. 30 |
May 1 to May 31 |
Jun. 1 to Jim. 30 |
Jul. 1 to Jul. 31 |
Aug. 1 to Aug. 31 |
Sep. 1 to Sep. 30 |
Oct. 1 to Oct. 31 |
Nov. 1 to Nov. 30 |
Dec. 1 to Dec. 30 |
| REVENUES (MOR-6) | $ 609,077 | $ 547,043 | $ 600,501 | $ 534,496 | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - |
| INC. (LOSS) BEFORE INT; DEPREC./TAX; IMPAIRMENT (MOR-6) | (32,191) | (27,488) | (29,275) | (29,943) | (589,136) | 38,792 | 90,108 | (16,762) | 30,596 | 2,275 | 9,659 | (1,959) |
| NET INCOME (LOSS) (MOR-6) | (38,679) | (37,515) | 40,442 | (35,706) | (618,960) | 26,026 | 50,734 | (19,316) | 27,060 | (311) | 9,196 | (8,059) |
| PAYMENTS TO INSIDERS (MOR-9) | (316) | (336) | (336) | (369) | (25) | (75) | (50) | (50) | (100) | - | (29) | 212 |
| PAYMENTS TO PROFESSIONALS (MOR-9) | (500) | (2,234) | (11,182) | (13,290) | (10,189) | (9,127) | (153) | (3,762) | (8,350) | (2,464) | (244) | (5,291) |
| TOTAL DISBURSEMENTS (MOR-7) | (768,635) | (617,132) | (592,508) | (681,567) | (89,798) | (72,893) | (18,725) | (37,886) | (24,571) | (21,591) | (8,618) | (17,944) |
2021
| MONTH | Jan. 1 to Jan. 31 |
Feb. 1 to Feb. 28 |
Mar. 1 to Mar. 31 |
| REVENUES (MOR-6) | $ - | $ - | $ - |
| INC. (LOSS) BEFORE INT; DEPREC./TAX; IMPAIRMENT (MOR-6) | (409) | (610) | (603) |
| NET INCOME (LOSS) (MOR-6) | 2.287 | (914) | (1,557) |
| PAYMENTS TO INSIDERS (MOR-9) | (13) | (11) | (19) |
| PAYMENTS TO PROFESSIONALS (MOR-9) | (147) | (543) | (238) |
| TOTAL DISBURSEMENTS (MOR-7) | (9,284) | (31,209) | (3,844) |
| Notes: | Yes/No | ||
| Are all accounts receivable being collected within terms? | No | ||
| (1) Income statement figures for the partial month of November 2019 are based on estimates as the company does not close their accounting records until the end of the month. | Are all post-petition liabilities, including taxes, being paid within terms? | No | |
| Have any prepetition liabilities been paid? 5003(b)9 liabilities | Yes | ||
| If so, describe Select __________________________________________ | |||
| (2) Pursuant to Court Order, the Debtors are no longer required to maintain insurance as of the filing date. | Are all funds received being deposited into DIP bank accounts? | Yes | |
Were any assets disposed of outside the normal course of business ?
If so, describe _______________________________________________________ |
No | ||
| Are all U.S. Trustee Quarterly Fee Payments current? | Yes |
| What is the status of your Plan of Reorganization? Confirmation order entered on March 17,2021 |
| ***The original of this document must be filed with the United States Bankruptcy Court*** | I certify under penalty of perjury that the following complete Monthly Operating Report (MOR), consisting of MOR-1 is true and correct, to the best of my knowledge. | |
|
ATTORNEY NAME: Bob Bruner |
SIGNED X /s/ Daniel H. Golden | TITLE: Sole director/officer |
|
FIRM NAME: Norton Rose Fulbright ADDRESS: 1301 McKinney Suite 5100 CITY, STATE, ZIP: Houston, TX 77010-3095 TELEPHONE/FAX: (713) 651 5216 / Fax (713) 651 5246
|
Daniel H. Golden | 4/22/21 |
| (PRINT NAME OF SIGNATORY) | DATE | |
| MOR-1 | Excluded Yes | |
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
COMPARATIVE BALANCE SHEETS
| ASSETS | 10/31/2019 | 11/30/2019 | 12/31/2019 | 1/31/2020 | 2/29/2020 | 3/31/2020 | 4/30/2020 | 5/31/2020(4) | 6/30/2020(4) | 7/31/2020(4) | 8/31/2020(4) | 9/30/2020(4) | 10/31/2020(4) | 11/30/2020(4) | 12/31/2020(4) | 1/31/2021(4) | 2/28/2021(4) | 3/31/2021(4)(5) |
| CURRENT ASSETS | ||||||||||||||||||
| Cash and cash equivalents | $ 37,478 | $ 112,521 | $ 80,011 | $ 48,833 | $ 56,829 | $ 57,844 | $ 106,707 | $ 89,030 | $ 125,000 | $ 151,140 | $ 125,815 | $ 163,000 | $ 147,977 | $ 152,203 | $ 152,469 | $ 144,372 | $ 116,924 | $ 155,046 |
| Receivables, net of allowance for doubtful accounts(l) | 469,918 | 564,680 | 574,143 | 561,110 | 553,426 | 576,237 | 513,664 | 112,930 | 63,285 | 38,638 | 30,810 | 26,573 | 23,238 | 16,620 | 13,263 | 12,427 | 11,791 | 11,134 |
| Income tax receivable(2) | 1,450 | 1,505 | 1,917 | 1,706 | 1,613 | 103,493 | 103,168 | 103,168 | 5,053 | 784 | 784 | 694 | 694 | 694 | 689 | 689 | 689 | - |
| Inventory, net | 268,431 | 251,943 | 250,485 | 255,063 | 260,323 | 277,218 | 255,992 | - | - | - | - | - | - | - | - | - | - | - |
| Deferred income taxes | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Prepaid expenses and other current assets | 43,752 | 99,439 | 60,108 | 64,254 | 52,719 | 66,591 | 43,745 | 46,825 | 19,987 | 18,187 | 13,584 | 15,048 | 12,794 | 15,051 | 15,426 | 15,602 | 15,634 | 16,007 |
| Assets held for sale(3) | 6,808 | 6,806 | ||||||||||||||||
| TOTAL CURRENT ASSETS | 827,837 | 1,036,894 | 966,664 | 930,966 | 924,910 | 1,081,383 | 1,023,276 | 351,953 | 213,325 | 208,749 | 170,993 | 205,315 | 184,703 | 184,568 | 181,847 | 173,090 | 145,038 | 182,187 |
| Property, plant and equipment, net | 959,844 | 959,989 | 820,366 | 836,089 | 809,574 | 805,062 | 808,939 | 81,198 | 75,766 | 74,411 | 48,999 | 30,891 | 30,891 | 30,070 | 18,544 | 18,544 | 18,061 | 1,784 |
| Operating lease right of use assets | 297,818 | 297,329 | 275,596 | 280,264 | 272,591 | 250,569 | 260,800 | 10,000 | - | - | - | - | - | - | - | - | - | - |
| Goodwill | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Identifiable intangible and other assets | 171,492 | 191,716 | 165,928 | 164,301 | 143,722 | 141,489 | 130,708 | 324,394 | 321,337 | 312,984 | 312,989 | 309,762 | 308,615 | 308,116 | 302,265 | 301,521 | 227,952 | 208,342 |
| Receivable from nondebtors | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred income taxes | (7,840) | (7,803) | - | 10 | 41 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Assets of discontinued operations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| TOTAL ASSETS | $ 2,249,151 | $ 2,478,125 | $ 2,228,554 | $ 2,211,630 | $ 2,150,838 | $ 2,278,503 | $ 2,223,723 | $ 767,545 | $ 610,428 | $ 596,144 | $ 532,981 | $ 545,968 | $ 524,209 | $ 522,754 | $ 502,656 | $ 493,155 | $ 391,051 | $ 392,313 |
| (1) | The receivables balance includes receivables associated with the AR Securitization agreement with Rabobank. The accounting department does not separate the accounts receivable associated with this agreement on a monthly basis. Consequently, our schedule reflects the total balance of receivables inclusive of accounts receivable in this agreement |
| (2) | The Cares Act enacted in March 2020, allows Dean to carry back net operating losses from 2018 and 2019 to the prior 5 years resulting in a refund claim in excess of $100MM that was received in June 2020. |
| (3) | The change in assets held for sale is die result of an accounting department reclassification as a result of the bankruptcy filing. |
| (4) | Certain manual adjustments were made in the May 2020-March 2021 financials related to the substantial sale of assets that occurred on May 1, 2020. Such adjustments will continue to be necessary to accurately reflect the financial position of the bankrupt entities by excluding assets related to the sold plants. |
| (5) | Pursuant to the Stipulation and Agreed Order Between the Debtors and Dairy Farmers of America, Inc. (“DFA”) (docket # 3553), on April 2, 2021, the Debtors paid $67.4 million (a 10% discount to the DFA’s asserted administrative claim amount of $74.9 million) to DFA Also on this date, the Debtors transferred DFA cash from its accounts to DFA based on a final reconciliation of post-sale cash receipts. These transactions will be reflected in the April 2021 MOR. |
MOR-2
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
COMPARATIVE BALANCE SHEETS
| LIABILITIES & OWNER’S EQUITY | 10/31/2019 | 11/30/2019 | 12/31/2019 | 1/31/2020 | 2/29/2020 | 3/31/2020 | 4/30/2020 | 5/31/2020(1) | 6/30/2020(1) | 7/31/2020(1) | 8/31/2020(1) | 9/30/2020(1) | 10/31/2020(1) | 11/30/2020(1) | 12/31/2020(1) | 1/31/2021(1) | 2/28/2021(1) | 3/31/2021(1) |
| LIABILITIES | ||||||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||||||
| Accounts payable and accrued expenses | $ 391,142 | $ 580,127 | $ 565,732 | $ 580,117 | $ 554,480 | $ 631,762 | $ 613,944 | $ 484,576 | $ 396,394 | $ 270,630 | $ 254,408 | $ 239,713 | $ 207,710 | $ 191,562 | $ 179,514 | $ 171,895 | $ 123,398 | $ 118,209 |
| Income taxes payable | 62 | - | - | - | 98 | - | 64 | 64 | 256 | 278 | (716) | (717) | (718) | (708) | (650) | 591 | 612 | 1,766 |
| Current portion of long-term debt | 546 | 439,267 | 440,385 | 404,109 | 471,570 | 521,119 | 455,014 | 7,737 | (98) | - | - | - | - | - | - | - | - | - |
| Current portion of operating lease liabilities | 87,756 | 87,579 | 86,297 | 82,753 | 79,679 | 77,825 | 76,972 | 10,000 | - | - | - | - | - | - | - | - | - | - |
| TOTAL CURRENT LIABILITIES | 479,506 | 1,106,973 | 1,092,414 | 1,066,979 | 1,105,827 | 1,230,706 | 1,145,994 | 502,377 | 396,552 | 270,908 | 253,692 | 238,996 | 206,992 | 190,854 | 178,864 | 172,486 | 124,010 | 119,975 |
| Liabilities subject to compromise | 1,027,393 | 1,027,393 | 1,027,393 | 1,027,393 | 1,012,387 | 1,012,387 | 1,012,387 | 1,002,878 | 1,002,328 | 996,273 | 996,258 | 996,150 | 996,102 | 996,057 | 996,063 | 996,026 | 995,978 | |
| Long-term debt | 890,374 | 120,420 | 4,670 | 7,149 | 6,597 | 4,822 | 6,173 | 6,128 | 124 | 124 | - | - | - | - | - | - | - | - |
| Deferred income taxes | 5,927 | 5,927 | 5,066 | 5,923 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 | 5,066 |
| Operating lease liabilities | 210,062 | 209,750 | 203,477 | 197,511 | 192,912 | 187,441 | 183,827 | - | - | - | - | - | - | - | - | - | - | - |
| Other long-term liabilities | 645,741 | 46,597 | 65,774 | 143,927 | 122,816 | 105,485 | 129,941 | 128,235 | 66,431 | 64,215 | 60,649 | 59,723 | 59,026 | 59,044 | 59,044 | 59,044 | 6,367 | 6,367 |
| TOTAL LIABILITIES | 2,231,610 | 2,517,060 | 2,398,794 | 2,448,882 | 2,460,611 | 2,545,907 | 2,483,388 | 1,654,193 | 1,471,051 | 1,342,641 | 1,315,680 | 1,300,043 | 1,267,234 | 1,251,066 | 1,239,031 | 1,232,659 | 1,131,469 | 1,127,386 |
| OWNER’S EQUITY (DEFICIT) | ||||||||||||||||||
| Common stock and outstanding, with a par value of $0.01 per share | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 | 919 |
| Additional paid-in capital | 663,891 | 663,877 | 663,849 | 663,868 | 663,868 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 | 663,788 |
| Retained earnings (Accumulated deficit) | (575,432) | (631,858) | (760,727) | (836,618) | (908,944) | (868,416) | (860,604) | (1,487,502) | (1,461,425) | (1,336,918) | (1,373,120) | (1,344,496) | (1,333,446) | (1,318,733) | (1,326,796) | (1,329,925) | (1,330,839) | (1,325,494) |
| Accumulated other comprehensive income (loss) | (82,761) | (82,761) | (85,163) | (76,284) | (76,284) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) | (74,286) |
| Non-controlling interest | 10,924 | 10,888 | 10,882 | 10,863 | 10,668 | 10,591 | 10,518 | 10,433 | 10,381 | - | - | - | - | - | - | - | X | - |
| TOTAL OWNER’S EQUITY (DEFICIT) | 17,541 | (38,935) | (170,240) | (237,252) | (309,773) | (267,404) | (259,665) | (886,648) | (860,623) | (746,497) | (782,699) | (754,075) | (743,025) | (728,312) | (736,375) | (739,504) | (740,418) | (735,073) |
| TOTAL LIABILITIES & OWNERS EQUITY | $ 2,249,151 | $ 2,478,125 | $ 2,228,554 | $ 2,211,630 | $ 2,150,838 | $ 2,278,503 | $ 2,223,723 | $ 767,545 | $ 610,428 | $ 596,144 | $ 532,981 | $ 545,968 | $ 524,209 | $ 522,754 | $ 502,656 | $ 493,155 | $ 391,051 | $ 392,313 |
| (1) | Certain manual adjustments were made in the May 2020-March 2021 financials related to the substantial sale of assets that occurred on May 1, 2020. Such adjustments will continue to be necessary to accurately reflect the financial position of the bankrupt entities by excluding liabilities and equity related to the sold plants. |
MOR-3
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
SCHEDULE OF POST-PETITION LIABILITIES
| As of November 30,2019 |
As of December 31,2019 | |
| Post-Petition Liabilities | ||
| Trade Accounts Payable | $ 164,577 | $ 69,850 |
| Income Taxes Payable | - | - |
| Other Accounts Payable | 433,724 | 404,083 |
| TOTAL POST-PETITION LIABILITIES | $ 598,301 | $ 473,933 |
| As
of January 31, 2020 |
As
of February 29, 2020 |
As
of March 31, 2020 |
As
of April 30, 2020 |
As
of May 31, 2020 |
As
of June 30, 2020 |
As
of July 31, 2020 |
As
of August 31, 2020 |
As
of September 30, 2020 |
As
of October 31, 2020 |
As
of November 30, 2020 |
As
at December 31, 2020 | |
| Post-Petition Liabilities | ||||||||||||
| Trade Accounts Payable | $ 84,425 | $ 90,375 | $ 91,847 | $ 100,492 | $ 165,333 | $ 122,456 | $ 115,137 | $ 102,156 | $ 91,333 | $ 83,095 | $ 75,517 | $ 66,336 |
| Income Taxes Payable | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Accounts Payable | 408,129 | 374,695 | 414,178 | 394,341 | 269,834 | 219,610 | 97,060 | 94,065 | 91,266 | 82,786 | 82,795 | 83,345 |
| TOTAL POST-PETITION LIABILITIES | $ 492,554 | $ 465,070 | $ 506,025 | $ 494,833 | $ 435,167 | $ 342,066 | $ 212,197 | $ 196,221 | $ 182,599 | $ 165,881 | $ 158,312 | $ 149,681 |
| As of January 31,2021 |
As of February 28,2021 |
As at March 31,2021 | |
| Post-Petition Liabilities | |||
| Trade Accounts Payable | $ 66,022 | $ 65,758 | $ 65,596 |
| Income Taxes Payable | - | - | - |
| Other Accounts Payable | 72,199 | 43,264 | 42,573 |
| TOTAL POST-PETITION LIABILITIES | $ 138,222 | $ 109,022 | $ 108,169 |
MOR-4
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
Aging of Post Petition Accounts Payable
March 31, 2021
| Days past Due | Total Consolidated | AP Trade | Income Taxes Payable | AP Other | ||||||||
| Current | $ | - | $ | - | $ | - | $ | - | ||||
| 0-30 days | - | - | - | - | ||||||||
| 31-60 days | - | - | - | - | ||||||||
| 61-90 days | - | - | - | - | ||||||||
| 91+ days | 108,169 | 65,596 | - | 42,573 | ||||||||
| TOTAL | $ | 108,169 | $ | 65,596 | $ | 0 | $ | 42,573 | ||||
Aging of Post Petition Accounts Receivable
March 31, 2021
| Days past Due | Total Consolidated | |
| Current | $ | - |
| 0-30 days | - | |
| 31-60 days | - | |
| 61-90 days | - | |
| 91+ days | 11,134 | |
| TOTAL | $ 11,134 | |
MOR-5
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
STATEMENT OF INCOME (LOSS)
| MONTH | YTD 10/31/2019 |
YTD 11/30/2019 |
YTD 12/31/2019 |
YTD 1/31/2020 |
YTD 2/29/2020 |
YTD 3/31/2020 |
YTD 4/30/2020 |
YTD 5/31/2020 (2) |
YTD 6/30/2020 |
YTD 7/31/2020 |
YTD 8/31/2020 |
YTD 9/30/2020 |
YTD 10/31/2020 |
YTD 11/30/2020 |
YTD 12/31/2020 |
YTD 1/31/2021 |
YTD 2/28/2021 |
YTD 3/31/2021 |
| REVENUES (MOR-1) | ||||||||||||||||||
| Net sales | 6,088,684 | 6,689,610 | 7,328,663 | 609,077 | 1,156,120 | 1,756,621 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | 2,291,117 | - | - | - |
| Cost of sales | (4,876,416) | (5,367,183) | (5,888,931) | (504,581) | (952,364) | (1,452,295) | (1,889,578) | (2,357,854) | (2,317,961) | (2,238,310) | (2,245,375) | (2,213,477) | (2,209,912) | (2,201,979) | (2,199,397) | (23) | (39) | (185) |
| OPERATING INCOME | 1,212,268 | 1,322,427 | 1,439,732 | 104,496 | 203,756 | 304,326 | 401,539 | (66,737) | (26,844) | 52,807 | 45,742 | 77,640 | 81,205 | 89,138 | 91,720 | (23) | (39) | (185) |
| OPERATING EXPENSES: | ||||||||||||||||||
| Selling and distribution | (1,091,811) | (1,220,383) | (1,327,922) | (111,740) | (213,922) | (323,517) | (427,956) | (505,057) | (505,709) | (505,954) | (506,843) | (507,855) | (507,920) | (507,110) | (506,778) | 23 | (47) | (212) |
| General and administrative | (243,393) | (283,236) | (301,355) | (22,655) | (45,376) | (66,812) | (91,309) | (136,001) | (137,302) | (127,075) | (133,487) | (137,876) | (139,046) | (138,104) | (140,920) | (397) | (652) | (942) |
| Amortization of intangibles | (16,928) | (18,621) | (20,600) | (1,693) | (3,365) | (4,257) | (5,149) | (5,149) | (5,149) | (5,149) | (5,149) | (5,149) | (5,149) | (5,149) | (5,149) | |||
| Facility closing and reorganization costs | (15,661) | (15,969) | (17,017) | (599) | (772) | (313) | (643) | 290 | 817 | 1,437 | (959) | 3,140 | 3,085 | 3,059 | 1,002 | (12) | (281) | (283) |
| Impairment of long-lived assets | (11,860) | (11,860) | (177,357) | - | - | - | 3,001 | 3,001 | 3,001 | 3,001 | 3,001 | 3,001 | 3,001 | 3,001 | 3,001 | - | - | - |
| Equity in earnings of unconsolidated subsidiaries | 3,337 | 3,337 | 4,835 | - | - | 1,619 | 1,619 | 1,619 | 1,944 | 1,799 | 1,799 | 1,799 | 1,799 | 1,799 | 1,799 | - | - | - |
| TOTAL OPERATING EXPENSES | (1,376,316) | (1,546,732) | (1,839,416) | (136,687) | (263,435) | (393,280) | (520,437) | (641,297) | (642,398) | (631,941) | (641,638) | (642,940) | (644,230) | (642,504) | (647,045) | (386) | (980) | (1,437) |
| INCOME (LOSS) BEFORE INT, DEPR/TAX (MOR-1) | (164,048) | (224,305) | (399,684) | (32,191) | (59,679) | (88,954) | (118,898) | (708,034) | (669,242) | (579,134) | (595,896) | (565,300) | (563,025) | (553,366) | (555,325) | (409) | (1,019) | (1,622) |
| Interest expense | (59,930) | (62,461) | (68,730) | (5,996) | (13,083) | (19,244) | (24,179) | (36,897) | (40,320) | (40,623) | (40,930) | (41,907) | (42,616) | (43,025) | (43,461) | - | (75) | (75) |
| Other income (expense), net | 3,270 | 2,348 | 3,012 | 268 | 124 | (164) | (432) | (334) | (326) | (143) | (128) | (34) | (31) | (28) | (28) | - | - | - |
| Reorganization items, net | - | (13,557) | (44,527) | (770) | (3,597) | (29,272) | (29,832) | (47,036) | (56,387) | (65,641) | (67,903) | (70,556) | (72,436) | (72,493) | (78,162) | 2,696 | 2,467 | 1,513 |
| TOTAL INT, DEPR & OTHER ITEMS | (56,660) | (73,670) | (110,245) | (6,498) | (16,556) | (48,680) | (54,443) | (84,267) | (97,033) | (106,407) | (108,961) | (112,497) | (115,083) | (115,546) | (121,651) | 2,696 | 2,392 | 1,438 |
| NET INCOME BEFORE TAXES | (220,708) | (297,975) | (509,929) | (38,689) | (76,235) | (137,634) | (173,341) | (792,301) | (766,275) | (685,541) | (704,857) | (677,797) | (678,108) | (668,912) | (676,976) | 2,287 | 1,373 | (184) |
| INCOME and OTHER TAXES (1) | 889 | 926 | 9,195 | 10 | 41 | 101,882 | 101,882 | 101,882 | 101,882 | 101,882 | 101,882 | 101,882 | 101,882 | 101,882 | 101,887 | - | - | - |
| GAIN (LOSS) ON SALE OF DISCONTINUED OPERATIONS | - | - | (70) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| NET INCOME (LOSS) (MOR-1) | $ (219,819) | $ (297,049) | $ (500,804) | $ (38,679) | $ (76,194) | $ (35,752) | $ (71,459) | $ (690,419) | $ (664,393) | $ (583,659) | $ (602,975) | $ (575,915) | $ (576,226) | $ (567,030) | $ (575,089) | $ 2,287 | $ 1,373 | $ (184) |
| (1) | The Cares Act enacted in March 2020, allows Dean to carry back net operating losses from 2018 and 2019 to the prior 5 years resulting in a refund claim in excess of $100MM. |
| (2) | No revenue was recognized and significant losses were incurred in May 2020 due to the sale of substantially all assets and related operations of the company to Dairy Farmers of America and Prairie Farms Dairy, effective May 1, 2020. |
MOR-6
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
| CASH RECEIPTS AND DISBURSEMENTS | 11/12/19 -12/31/19 | 1/1/20- 1/31/20 |
2/1/20 - 2/29/20 | 3/1/20- 3/31/20 |
4/1/20- 4/30/20 |
5/1/20- S/31/20 |
6/1/20- 6/30/20 |
7/1/20- 7/31/20 |
8/1/20- 8/31/20 |
9/1/20- 9/30/20 |
10/l/20- 10/31/20 |
11/1/20- 11/30/20 |
12/1/20- 12/31/20 |
1/1/21- 1/31/21 |
2/1/21- 2/28/21 |
3/1/21- 3/31/21 | ||||||||||||||||
| (in thousands) | ||||||||||||||||||||||||||||||||
| 1. CASH-BEGINNING OF MONTH / PERIOD | $ | 48,520 | $ | 73,162 | $ | 48,832 | $ | 56,829 | $ | 57,844 | $ | 106,707 | $ | 89,030 | $ | 125,000 | $ | 151,140 | $ | 125,815 | $ | 163,000 | $ | 147,977 | $ | 152,203 | $ | 152,469 | $ | 144,372 | $ | 116,924 |
| ECEIPTS: | ||||||||||||||||||||||||||||||||
| 2 CASH RECEIPTS FROM CUSTOMERS | 927,601 | 751,799 | 562,156 | 522,826 | 661,212 | 388,450 | 151,370 | 39,743 | 7,827 | 12,521 | 6,567 | 6,618 | 3,357 | 836 | 636 | 657 | ||||||||||||||||
| 3. PROCEEDS/(DISBURSEMENTS) FROM DIP FUNDING & REVOLVER | 70,000 | (18,882) | 51,375 | 47,822 | 20,855 | (720,872) | (47,800) | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 4. RECOVERY OF CASH COLLATERAL | - | - | - | - | - | - | - | - | - | - | - | - | 4,978 | - | 3,125 | 20,000 | ||||||||||||||||
| 5. SALE OF ASSETS | - | - | - | 1,330 | - | 394,056 | 5,293 | 5,121 | 4,735 | 49,235 | - | 6,226 | 9,875 | 350 | - | 21,309 | ||||||||||||||||
| TOTAL RECEIPTS | 997,601 | 732,917 | 613,531 | 571,978 | 682,067 | 61,634 | 108,863 | 44,864 | 12,562 | 61,756 | 6,567 | 12,844 | 18,210 | 1,186 | 3,761 | 41,966 | ||||||||||||||||
| DISBURSEMENTS: | ||||||||||||||||||||||||||||||||
| 6. MILK PAYMENTS POST-PETITION | (301,400) | (281,394) | (266,568) | (211,470) | (257,279) | (6,643) | (1,250) | (2,885) | (713) | (7,090) | (7,431) | (29,082) | (65) | |||||||||||||||||||
| 7. MILK PAYMENTS 503(B)(9) | (106,980) | (6) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 8. MILK PAYMENTS CRITICAL VENDOR | (53,264) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 9. TRADE ACCOUNTS PAYABLE | (346,360) | (343,995) | (234,384) | (256,272) | (253,188) | (47,642) | (56,844) | (15,052) | (29,879) | (14,558) | (11,371) | (7,847) | (10,862) | (1,614) | (1,405) | (3,320) | ||||||||||||||||
| 10. UTILITIES AND FUEL | (9,540) | (18,943) | (12,391) | (13,106) | (12,700) | - | (100) | (300) | (100) | (70) | (80) | (80) | (50) | (50) | (130) | |||||||||||||||||
| 11. PAYROLL, PAYROLL TAX, 401K, & BENEFITS | (136,563) | (115,659) | (94,513) | (96,358) | (141,406) | (16,677) | (5,186) | (2,630) | (1,214) | (720) | (583) | (408) | (1,741) | (93) | (129) | (78) | ||||||||||||||||
| 12 DEBT SERVICE FEES | (27,548) | (3,289) | (3,934) | (3,579) | (3,668) | (8,606) | (350) | (589) | - | - | - | - | - | - | - | - | ||||||||||||||||
| 13. PROFESSIONAL FEES | (4,252) | (569) | (2,234) | (11,182) | (13,290) | (10,189) | (9,127) | (153) | (3,762) | (8,350) | (2,464) | (244) | (5,291) | (147) | (543) | (238) | ||||||||||||||||
| 14. UTILITY ADEQUATE ASSURANCE | (3,910) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 15. TAXES | (5,201) | (4,780) | (3,108) | (541) | (36) | (42) | (36) | - | (46) | (160) | (3) | (40) | - | - | (0) | (13) | ||||||||||||||||
| TOTAL DISBURSEMENTS | (995,018) | (768,635) | (617,132) | (592,508) | (681,567) | (89,798) | (72,893) | (18,725) | (37,886) | (24,571) | (21,591) | (8,618) | (17,944) | (9,284) | (31,209) | (3,844) | ||||||||||||||||
| 16. NET CASH FLOW | 2,583 | (35,718) | (3,601) | (20,530) | 500 | (28,164) | 35,971 | 26,140 | (25,325) | 37,185 | (15,023) | 4,226 | 266 | (8,098) | (27,448) | 38,122 | ||||||||||||||||
| 17. CASH - END OF MONTH | $ 51,103 | $ 37,444 | $ 45,231 | $ 36,299 | $ 58,344 | $ 78,543 | $ 125,000 | $ 151,140 | $ 125,815 | $ 163,000 | $ 147,977 | $ 152,203 | $ 152,469 | $ 144,372 | $ 116,924 | $ 155,046 | ||||||||||||||||
| 18. ADJUSTMENTS RELATED TO RABOBANK ASSET SECURITIZATION CASH(l) | 22,059 | 11,388 | 11,598 | 21,545 | 48,363 | 10,487 | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 19. ENDING CASH PER BOOKS - END OF MONTH | $ 73,162 | $ 48,832 | $ 56,829 | $ 57,844 | $ 106,707 | $ 89,030 | $ 125,000 | $ 151,140 | $ 125,815 | $ 163,000 | $ 147,977 | $ 152,203 | $ 152,469 | $ 144,372 | $ 116,924 | $ 155,046 | ||||||||||||||||
| (1) | We have included the withheld cash balance associated with the AR securitization with Rabobank in this schedule. The reported cash is not in a debtor bank account, however the debtors have rights to this cash. Rabobank provides the accounting department with die balance of cash held after calculating the borrowing base at the end of the month. For purposes of agreeing out this schedule to the balance sheet, we have included this balance. |
MOR-7
| CASE NAME: | Southern Foods Group, LLC d/b/a Dean Foods | |
| CASE NUMBER: | (19-36313) |
Bank Account Reconciliations & Cash Disbursements Journals
The Debtors affirm that bank reconciliations are prepared for all open and active bank accounts on a monthly basis
| Debtor Entity | Bank Name | Account Type | Ending Balance as of 11/11/2019 | Riding Balance as of 12/31/2019 | Riding Balance as of 1/31/2020 | Riding Balance as of 2/29/2020 | Riding Balance as of 3/31/2020 | Riding Balance as of 4/30/2020 | Riding Balance as of 5/31/2020 | Riding Balance as of 6/30/2020 | Riding Balance as of 7/31/2020 | Riding Balance as of 8/31/2020 | Ending Balance as of 9/30/2020 | Ending Balance as of 10/31/2020 | Ending Balance as of 11/30/2020 | Ending Balance as of 12/31/2020 | Ending
Balance as of 1/31/2021 |
Riding Balance as of 2/28/2021 | Ending Balance as of 3/31/2021 | |
| Southern Foods Group, LLC | Ameristate Bank | Collection | 7489 | $ 1 | $ (9) | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - |
| Dean Foods Company | Bank Of America | Concentration | 0587 | 51,897 | 67,435 | 36,809 | 22,692 | 51,103 | 53,561 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 208,394 | 5,000 | 1,572,097 | 3,180,734 | 5,054,108 |
| Southern Foods Group, LLC | Bank Of America | Collection | 2251 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings LLC | Bank Of America | Collection | 3902 | - | - | 257 | 544 | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Model Dairy, LLC | Bank Of America | Collection | 9147 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Bank Of America | Collection | 8866 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Bank Of America | Collection | 6670 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Bank Of America | Collection | 1836 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Bank Of America | Collection | 1849 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Bank Of America | Collection | 6809 | 455,848 | 139,865 | 53,394 | 2,248 | 149,572 | 202,512 | 266,965 | 466,863 | 483,713 | 486,759 | 488,669 | 489,045 | 489,200 | 489,312 | 489,312 | 489,312 | 489,312 |
| Mayfield Dairy Farms, LLC | BB&T | Collection | 6831 | 680 | 21,668 | 59,317 | 25,153 | - | - | 48,235 | 48,235 | - | - | 48,235 | - | - | - | - | - | - |
| Mayfield Dairy Farms, LLC | BB&T | Collection | 1010 | 888 | 11,427 | 17,069 | 21,389 | - | - | 26,341 | 26,341 | - | - | 26,341 | 17,652 | 17,514 | 17,377 | 17,377 | 17,377 | 16,965 |
| Mayfield Dairy Farms, LLC | BB&T | Collection | 7128 | - | - | (364) | 13,843 | - | - | 13,999 | 13,999 | - | - | 13,999 | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | A/P | 9329 | 5,813,403 | 3,977,099 | 367,914 | 243,548 | 1,757,791 | - | 125 | 493 | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | BMO | A/P | 9345 | - | 9,488 | 8,890 | - | 531 | - | (785) | (828) | - | - | - | - | - | - | - | - | - |
| Friendly’s Manufacturing and Retail, LLC | BMO | A/P | 9352 | - | 465,462 | 622,929 | - | 4,442 | - | (190,171) | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | BMO | Concentration | 9303 | 794,280 | 621,451 | 6,446,186 | 12,427,499 | 992,989 | 32,746,971 | 64,148,221 | 53,798,796 | 58,489,549 | 6,577,970 | 85,588,018 | 105,586,254 | 76,939,719 | 54,621,492 | 25,019,908 | 14,152,697 | 10,521,930 |
| Dean Dairy Holding, LLC | BMO | Collection | 9360 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | BMO | Collection | 9626 | 161,462 | 1339,944 | 714,800 | 601,071 | 861,305 | 533,185 | 35,000 | 35,000 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | Collection | 9634 | - | - | 90,142 | 343,587 | 631,666 | 244,808 | 480,856 | 485,129 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | BMO | Collection | 9642 | - | - | 715,814 | 881,696 | 1,781,442 | 3,531,163 | 906,324 | 749,772 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | Collection | 9659 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Holding Company | BMO | Collection | 9667 | - | 308,438 | 899,043 | 1,127,618 | 109,377 | 757,753 | 174,497 | 142,960 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | Collection | 9675 | - | 55,188 | 559 | 114,709 | 641 | 1,200 | 1,976 | 2,976 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | BMO | Collection | 9683 | - | 420,374 | 20,435 | 231,003 | 701,421 | 102,519 | 1,227,222 | 1,246,384 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | Collection | 9691 | - | 249,318 | 387,192 | 544,627 | 513,725 | 626,527 | 299,106 | 254,958 | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | BMO | Collection | 9709 | - | - | 74,459 | 263,819 | 170,794 | 265,763 | 44,072 | 35,000 | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | BMO | Collection | 9717 | - | - | - | 291,229 | 26,127 | 33,011 | 74,064 | 30,292 | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | BMO | Collection | 9725 | - | 792,695 | 522,699 | 635,618 | 2,560,807 | 3328,227 | 1,526,493 | 1,275,859 | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | BMO | Collection | 9733 | 23,870 | 337,521 | 692,120 | 714,461 | 134,411 | 254,063 | 556,596 | 409,051 | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | BMO | Collection | 9741 | - | 2,386 | 178,694 | 433,824 | 343,114 | 502,077 | 514,906 | 270,808 | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | BMO | Collection | 9758 | - | 363,650 | 109,679 | 945,772 | 235,610 | 210,217 | 392,744 | 75,631 | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | BMO | Collection | 9790 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | BMO | Payroll | 9311 | (256,756) | 56,064 | 146,455 | 25,109 | 27,773 | 16,473 | 113,907 | 86,254 | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Brady National Bank | Collection | 7532 | 10 | 26 | 20 | 14 | 8 | 8 | 2 | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Chemung Canal Trust Company | Collection | 2986 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | Citizens Bank | Collection | 6588 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | City National Bank | Collection | 7106 | 28 | 489 | 24,155 | 38,824 | 55,407 | 61,873 | 79,152 | 79,152 | - | - | 79,152 | 79,146 | 79,146 | 79,146 | 79,146 | - | - |
| Southern Foods Group, LLC | Comerica Bank | Corporate | 3499 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Community Bank | Collection | 1895 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Fifth Third | Collection | 1197 | 55,329 | 207,120 | 74,785 | 113,652 | 52,003 | 31,382 | 12,009,061 | - | - | - | 903,647 | - | - | - | - | - | |
| Suiza Dairy Group, LLC | First Citizens Bank | Collection | 1247 | 79 | 1,081 | 3,082 | 6,389 | 6,389 | - | - | 6,313 | 6,313 | 6,313 | - | 6,313 | - | - | |||
| Suiza Dairy Group, LLC | First Farmers Bank & Trust | Collection | 3390 | 1,899 | 70,969 | 78,926 | 95,280 | 148,309 | 208,100 | 215,766 | 766 | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | First Hawaiian Bank | Collection | 1370 | 125,000 | 579,089 | 334,946 | 211,303 | 255,487 | 8,634 | 37,650 | 395,578 | - | - | - | 1 | - | - | - | - | - |
| Southern Foods Group, LLC | First Interstate Bank | Collection | 9046 | 1,006 | 14,043 | 22,451 | 29,032 | 31,877 | 32,555 | 33,901 | 33,901 | - | - | 33,901 | - | - | - | - | - | - |
| Southern Foods Group, LLC | First Interstate Bank | Collection | 7761 | 18 | 78 | 101 | 138 | 134 | 119 | 114 | 114 | - | - | 114 | - | - | - | - | - | - |
| Dean Foods of Wisconsin, LLC | First National Bank of Iowa | Collection | 1409 | 10,340 | - | 8,763 | 23,481 | 85,545 | 98,989 | 109,016 | 9,016 | - | - | 9,006 | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | First National Bank-Fort Stockton | Collection | 0197 | 106 | 104 | 5,306 | 8,655 | 12,228 | 16,648 | 16,633 | 629 | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | JP Morgan Chase | Concentration | 1997 | 49,401 | 129,032 | 447,347 | 986,227 | 1,856,517 | 355,064 | 320,138 | 1,347,438 | 2,093,960 | 47,718,498 | 25,915,762 | 39,862,916 | 74,462,715 | 97,256,673 | 117,189,737 | 99,083,881 | 138,963,330 |
| Dean Foods North Central, LLC | JP Morgan Chase | Corporate | 8136 | 11,171 | 11,171 | 11,171 | 11,171 | 11,171 | 11,171 | 11,171 | 11,171 | 11,171 | - | - | - | - | - | - | - | - |
| Dean Foods Company | JP Morgan Chase | Collection | 0780 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | JP Morgan Chase | Collection | 7580 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | JP Morgan Chase | Collection | 7134 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | JP Morgan Chase | Collection | 0893 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Reiter Dairy, LLC | JP Morgan Chase | Collection | 0157 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | JP Morgan Chase | Collection | 7076 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Reiter Dairy, LLC | JPMorgan Chase | Collection | 9770 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | JP Morgan Chase | Collection | 0773 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | JP Morgan Chase | Ins | 6790 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | JP Morgan Chase | Collection | 0124 | 298,461 | - | - | - | - | - | - | 6,014,099 | 9,717,613 | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | JP Morgan Chase | Collection | 3835 | 430,744 | 630,666 | 311,727 | 385,970 | 276,947 | 6,955 | 424 | 6,981,278 | 12,170,259 | - | - | - | - | - | - | - | - |
| Midwest Ice Cream Company, LLC | JP Morgan Chase | Collection | 8823 | 267,915 | 34,996 | - | 37,086 | 5,024 | 3,014 | - | 1,413,563 | 2,972,723 | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | JP Morgan Chase | Collection | 6194 | 12,172 | 15,937 | 5,851 | 279 | 11,962 | 4,157 | 1,676 | 51,591 | 103,719 | - | - | - | - | - | - | - | - |
| Model Dairy, LLC | JP Morgan Chase | Collection | 4295 | 2,029 | 965 | - | 55 | 300 | 244 | - | 12,435,220 | 23,020,579 | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | JP Morgan Chase | Collection | 7037 | 31,284 | 54,233 | 63,536 | 6,364 | 227 | 2,653 | 1,265 | 18,930 | 49,189 | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | IP Morgan Chase | Collection | 9028 | 103,134 | 103,085 | 64,649 | 13,599 | 31,751 | 11,140 | 16,497 | 579,857 | 1,285,319 | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | JP Morgan Chase | Collection | 4665 | 132,903 | 65,703 | 266,935 | 241,548 | 1,128,982 | 22,559 | 149 | 1,730,583 | 4,093,268 | - | - | - | - | - | - | - | - |
| Dean Intellectual Property Services II, Inc. | JP Morgan Chase | Collection | 3219 | 1,240,922 | 962,114 | 760,570 | 187,877 | 846,061 | 266,903 | 76,211 | 5,374,276 | 10,724,758 | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | JP Morgan Chase | Collection | 2885 | 6,426 | 24,990 | 1,174 | 15,208 | 4,242 | - | - | 4,572 | 10,985 | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | JP Morgan Chase | Collection | 2099 | 92,476 | 1,252,488 | 1,951,363 | 2310,164 | 3,579,382 | 4398,138 | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | JP Morgan Chase | Collection | 8807 | 242,538 | 125,575 | 20,520 | 85,966 | 1,909 | 11,471 | - | 395,085 | 775,197 | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Key Bank | Collection | 7888 | 8,572 | 50,533 | 24,619 | 50,969 | 72,857 | 94,084 | 107,280 | 105,468 | - | - | - | - | - | - | - | - | |
| Dean Dairy Holdings, LLC | Key Bank | Collection | 9181 | 105 | - | 244 | 186 | 128 | 70 | 12 | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Lamesa National Bank | Collection | 0721 | 987 | - | 8,918 | 11,812 | 8,918 | 8,918 | 8,918 | 918 | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Little Horn State Bank | Collection | 0264 | 322 | (5) | (11) | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Midwest Ice Cream Company, LLC | M&T Bank | Collection | 7617 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Mayfield Dairy Farms, LLC | Northeast Georgia Bank | Collection | 9780 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | PNC Bank | Collection | 3356 | 100,000 | 99,649 | 111,349 | 100,000 | 99,649 | 99,727 | 99,344 | 99,260 | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | PNC Bank | Collection | 7434 | 34,235 | 102,402 | 104,071 | 65,281 | 35,755 | 27,012 | 8,384 | 7,993 | (659) | - | - | - | - | - | - | - | - |
| Dean Foods Company | PNC Bank | Collection | 5667 | 21,949 | 13,882 | 19,496 | 4,664 | 4,405 | 4,110 | 4,069 | 3,997 | (167) | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Rawlins National Bank | Collection | 0072 | - | - | 0 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Regions Bank | Collection | 0932 | - | - | 60 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Berkeley Farms, LLC | Regions Bank | Collection | 1909 | 6,560 | 142,565 | 77,652 | 201,614 | 286,025 | 393,932 | 418,193 | 2,839 | - | - | 1,749 | 1,382 | - | - | (368) | - | - |
| Dean Dairy Holding, LLC | Regions Bank | Collection | 9826 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Regions Bank | Collection | 1018 | 12,578 | 52,623 | 703,369 | 884,500 | 1,121,829 | 30,604 | - | 7,733 | - | - | 4,685 | 2,925 | - | - | (1,523) | - | - |
| Southern Foods Group, LLC | Sovereign Bank | Collection | 4567 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | TD Banknorth | Collection | 1137 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding | Texas Bank | Collection | 2503 | - | - | - | - | 22,185 | 23,092 | 28,301 | 3,640 | - | - | - | - | - | - | - | - | - |
| Reiter Dairy, LLC | U.S. Bank | Collection | 2015 | 3,408 | 37,635 | 22,531 | 41,808 | 62,257 | 72,091 | 76,830 | 76,523 | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | A/P | 4538 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | Wells Fargo Bank | A/P | 3386 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | A/P | 6341 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Holding Company | Wells Fargo Bank | A/P | 7931 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Holding Company | Wells Fargo Bank | A/P | 0812 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Concentration | 9876 | 7,266,083 | 12,968,828 | 3,158,101 | 2,684,315 | 4,927,013 | 1,184,772 | 2,056,880 | 4,331,323 | 8,364,220 | 25,639,646 | 18,257,635 | 107,104 | - | - | - | - | - |
| Dean Transportation, Inc. | Wells Fargo Bank | Corporate | 0892 | - | 3,909,872 | 4,347,651 | 4,347,651 | 3,776,606 | 3,776,606 | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Corp | 7643 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Holding Company | Wells Fargo Bank | Corp | 6231 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 3589 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods North Central, LLC | Wells Fargo Bank | Collection | 7435 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8078 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8086 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8355 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 7856 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods North Central, LLC | Wells Fargo Bank | Collection | 7864 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods North Central, LLC | Wells Fargo Bank | Collection | 2767 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Country Fresh, LLC | Wells Fargo Bank | Collection | 7666 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 7399 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 1738 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 7527 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods of Wisconsin, LLC | Wells Fargo Bank | Collection | 1861 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Collection | 8842 | 310,238 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Collection | 5171 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Foundation | Wells Fargo Bank | Collection | 5189 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2421 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 0206 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 7797 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 7821 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 7854 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8647 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6191 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6217 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6282 | 41,541 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6324 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6332 | 24,884 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 7069 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 3074 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 1867 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2483 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2517 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2525 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2541 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2566 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2574 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2582 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2616 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2632 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2640 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2657 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2673 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 7343 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 7818 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 7821 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 8678 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Mayfield Dairy Farms, LLC | Wells Fargo Bank | Collection | 1178 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8242 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8259 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2751 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 9689 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Collection | 9713 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 9721 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2161 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2187 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2195 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Holding Company, Dandy’s Dairy | Wells Fargo Bank | Collection | 3480 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Food’s Group San Antonio | Wells Fargo Bank | Collection | 2203 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Insurance | 7715 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 6124 | 68,884 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods North Central, LLC | Wells Fargo Bank | Collection | 7872 | 1,365,767 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Midwest Ice Cream Company, LLC | Wells Fargo Bank | Collection | 7490 | 14,293 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 6609 | 13,891 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Foods Company | Wells Fargo Bank | Collection | 9186 | 681,777 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 0200 | 101,885 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 0465 | 1,278,489 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 7190 | 20,495 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 5813 | 89,997 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 5821 | 210,975 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 5862 | 1,964 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 5912 | 145,809 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6118 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6134 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6159 | 388,400 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 6183 | 3,881 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 5182 | 114,748 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2475 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2558 | 26,948 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 2608 | 2,263 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 1197 | 22,121,078 | 20,203,129 | 12,247,532 | 11,522,355 | 6,431,602 | 3,767,340 | 4,143,105 | 12,009,061 | 16,769,606 | 45,387,597 | 32,521,421 | 915,673 | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 1605 | 408,505 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 2951 | 899,086 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 0647 | 403,520 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 0650 | 420,078 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 0676 | 66,292 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Reiter Dairy, LLC | Wells Fargo Bank | Collection | 9016 | 235,697 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Suiza Dairy Group, LLC | Wells Fargo Bank | Collection | 9029 | 41,226 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 8584 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holding, LLC | Wells Fargo Bank | Collection | 8597 | 326,632 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dean Dairy Holdings, LLC | Wells Fargo Bank | Collection | 8607 | 254,853 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Collection | 8649 | 439,957 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 8681 | 49,306 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 8694 | 23,351 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 8704 | 153,150 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Garelick Farms, LLC | Wells Fargo Bank | Collection | 0187 | 154,477 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Southern Foods Group, LLC | Wells Fargo Bank | Payroll | 6303 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Dairy Group Receivables II L.P. |
Rabobank |
Securitization |
xxxx* |
* |
22,059,470 |
11,387,550 |
11,597,811 |
21,544,657 |
48,362,836 |
10,486,836 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Total |
|
|
|
$ 48,520,022 |
$ 73,162,999 |
$ 48,833,001 |
$ 56,829,000 |
$ 57,844,000 |
$ 106,707,000 |
$ 89,030,000 |
$ 125,000,000 |
$ 151,140,000 |
$ 125,815,470 |
$ 163,000,000 |
$ 147,977,058 |
$ 152,203,000 |
$ 152,469,000 |
$ 144,372,000 |
$ 116,924,000 |
$ 155,045,645 |
| * | We have included the withheld cash balance associated with the AR securitization facility with Rabobank in this schedule. The reported cash is not in a debtor bank account, however the debtors have rights to this cash. Rabobank provides the accounting department with the balance of cash held after calculating the borrowing base at the end of the month. The balance is not provided as of 11/12/19 and consequently has not been included in this schedule. For purposes of agreeing this schedule to the balance sheet, we have included this balance herein although the balance is not in a specific debtor bank account. |
MOR-8
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
PAYMENTS TO INSIDERS AND PROFESSIONALS
Of the total disbursements shown for the month, list the amount paid
to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals,
Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).
| INSIDERS: NAME/POSITION/COMP TYPE | Nov.
12 to Dec. 31 2019 |
Jan.
1 to Jan. 31 2020 |
Feb.
1 to Feb. 29 2020 |
Mar.
1 to Mar. 31 2020 |
Apr.
1 to Apr. 30 2020 |
May
1 to May 30 2020 |
Jun.
1 to Jun. 30 2020 |
Jul.
1 to Jul. 31 2020 |
Aug.
1 to Aug. 31 2020 |
Sep.
1 to Sep. 30 2020 |
Oct.
1 to Oct. 31 2020 |
Nov.
1 to Nov. 30 2020 |
Dec.
1 to Dec. 31 2020 |
Jan.
1 to Jan. 31 2021 |
Feb. 1 to Feb. 28 2021 | Mar. 1 to Mar. 31 2021 | |
| 1 Beringause,Eric President and CEO | $ 144,943 | $ 85,417 | $ 95,417 | $ 95,417 | $ 95,417 | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | $ - | |
| 2 Finck, Onia H Forma’ SVP National Sales & CCO | 44,589 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| 3 Macedonio, Jodv L Former SVP Chief Financial Officer | 136,889 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| 4 Murrav, Thomas N. SVP Chief Commercial Officer | 72,027 | 39,583 | 49,583 | 49,583 | 49,583 | ||||||||||||
| 5 Rahlfs, Gary W SVP Chief Financial Officer | 78,030 | 50,000 | 50,000 | 50,000 | 56,173 | 25,000 | 75,000 | 50,000 | 50,000 | 100,000 | 28,600 | 30,577 | 13,100 | 10,835 | 18,810 | ||
| 6 Watoman, Kristy SVP Gai Counsel & Corp Secret | 64,773 | 41,667 | 41,667 | 41,667 | 41,667 | - | - | - | - | - | - | - | - | - | - | - | |
| 7 Fkno, Bassey SVP Business Innovation | - | 41,667 | 41,667 | 41,667 | 48,092 | - | - | - | - | - | - | - | - | - | - | - | |
| 8 Rilev, Brian K SVP Opoations | - | 30,000 | 30,000 | 30,000 | 43,846 | - | - | - | - | - | - | - | - | - | - | - | |
| 9 Wolljung, Gregory A SVP Logisdcs | - | 27,500 | 27,500 | 27,500 | 33,846 | - | - | - | - | - | - | - | - | - | - | - | |
| TOTAL INSIDERS (MOR-1) | $ 541,251 | $ 315,834 | $ 335,834 | $ 335,834 | $ 368,625 | $ 25,000 | $ 75,000 | $ 50,000 | $ 50,000 | $ 100,000 | $ | - | $ 28,600 | $ 30,577 | $ 13,100 | $ 10,835 | $ 18,810 |
| PROFESSIONALS | Nov.
12 to Dec. 31 2019 |
Jan.
1 to Jan. 31 2020 |
Feb.
1 to Feb. 29 2020 |
Mar.
1 to Mar. 31 2020 |
Apr.
1 to Apr. 30 2020 |
May
1 to May 30 2020 |
Jun.
1 to Jun. 30 2020 |
Jul.
1 to Jul. 31 2020 |
Aug.
1 to Aug. 31 2020 |
Sep.
1 to Sep. 30 2020 |
Oct.
1 to Oct. 31 2020 |
Nov.
1 to Nov. 30 2020 |
Dec.
1 to Dec. 31 2020 |
Jan.
1 to Jan. 31 2021 |
Feb. 1 to Feb. 28 2021 | Mar. 1 to Mar. 31 2021 | ||||||||||||||||
| 1 Maver Brown LLP (Legal Counsel) | $ | 178,714 | $ | - | $ | - | $ | - | $ | - | $ | 156,185 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - |
| 2 FTI Consulting. Inc. (Financial Advisor) | 1,090,537 | 499,634 | - | 1,173,153 | 505,985 | 509,574 | 171,645 | - | - | - | - | - | - | - | (265,578) | |||||||||||||||||
| 3 White & Case (Legal Counsel) | 2,686,417 | - | - | 643,118 | 1,354,121 | - | 946,473 | - | 106,698 | - | - | - | - | - | - | 22,954 | ||||||||||||||||
| 4 Moore & Van Allot PLLC (Legal Counsel) | 48,500 | - | 9,635 | 5,406 | 21,379 | 10,583 | 41,766 | - | - | - | - | - | - | - | - | 2,975 | ||||||||||||||||
| 5 Sullivan & Worcester LLP (Legal Counsel) | 115,335 | - | - | - | - | 16,704 | - | - | - | - | - | - | - | - | 2,903 | |||||||||||||||||
| 6 Greenburg Traurig (Legal Counsel) | 29,270 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||
| 7 Holland & Knight (Legal Counsel) | 69,532 | - | - | - | 27,951 | 7,658 | - | - | - | - | - | - | - | - | - | |||||||||||||||||
| 8 Morgan. Lewis & Bockhis LLP (Legal Counsel) | 93,618 | - | - | 46,854 | 13,789 | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||
| 9 Husch Blackwell (Legal Counsel) | 9,420 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||
| 10 Alvarez & Marsal (Consulting) | - | - | 1,257,626 | 4,114,775 | 3,524,389 | 1,539,526 | 1,291,047 | - | 1,045,754 | 898,099 | 140,764 | - | 299,098 | 91,996 | 37,845 | - | ||||||||||||||||
| 11 Davis Polk (Legal Counsel) | - | - | 966,757 | 3,554,183 | 4,056,410 | 4,066,543 | 5,478,715 | - | 2,288,301 | 4,101,990 | 1,006,842 | - | 4,102,188 | - | 634,762 | - | ||||||||||||||||
| 12 Evercore (Investment Banking Advisory) | - | - | - | 159,127 | 410,612 | - | 141,590 | 140,239 | - | 70,000 | 112,000 | - | - | - | - | - | ||||||||||||||||
| 13 Norton Rose & Fulbright (Legal Counsel) | - | - | - | 373,325 | 207,365 | - | - | 131,207 | - | 101,899 | - | 39,832 | - | - | - | |||||||||||||||||
| 14 Akin Gumn Strauss Hauer & Feld (Legal Counsel) | - | - | - | 1,028,426 | 1,900,085 | 2,098,891 | 662,888 | - | - | 1,243,490 | 922,071 | - | 464,961 | - | - | 59,142 | ||||||||||||||||
| 15 Chanman and Cutler LLP (Legal Counsel) | - | - | - | 83,850 | 24,431 | - | 77,333 | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 16 Erie (Bankruntcv Services) | - | - | - | - | 1,218,617 | - | 237,000 | - | - | 704,996 | - | 243,763 | - | 55,377 | 135,958 | - | ||||||||||||||||
| 17 Grav Reed & McGraw (Legal Counsel) | - | - | - | - | 53,028 | - | 12,999 | - | - | 500 | - | - | - | - | ||||||||||||||||||
| 18 Reed Smith LLP (Legal Counsel) | - | - | - | - | - | 89,685 | 17,090 | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 19 Miller Buckfire & Co. (Investment Ranking Advisory) | - | - | - | - | - | 456,032 | - | 120,000 | 60,000 | 180,000 | - | 45,000 | - | - | 150,000 | |||||||||||||||||
| 20 Bakelev Research Groun LLC (Financial Advisor) | - | - | - | - | - | 1,217,660 | - | - | 1,256,615 | - | - | 339,706 | - | - | - | |||||||||||||||||
| 21 Joele Frank (Investor Relations Advisory) | - | - | - | - | - | - | 53,341 | - | - | - | - | - | - | - | - | - | ||||||||||||||||
| 22 Curtis, Mallet-Prevost Colt & Mosle LLP (Legal Counsel) | - | - | - | - | - | - | - | 69,615 | 14,853 | - | - | - | - | - | - | |||||||||||||||||
| TOTAL PROFESSIONALS (MOR-1) | $ 4,321,343 | $ 499,634 | $ 2334,018 | $ 11,182,317 | $ 13,390,309 | $ 10,189,332 | $ 9,126,545 | $ 153,338 | $ 3,761,576 | $ 8,350,044 | $ 2,464,076 | $ 243,763 | $ 5390,785 | $ 147,373 | $ 542,986 | $ 237,374 | ||||||||||||||||
MOR-9
| Southern Foods Group, LLC d/b/a Dean Foods | ||
| CASE NUMBER: | (19-36313) |
(in thousands)
PAYMENTS TO INSIDERS AND PROFESSIONALS SUPPLEMENTARY SCHEDULE
Of the total disbursements shown for the month, list the amount paid
to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.
Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).
| March 1, 2021 to March 31, 2021 | ||||||
| INSIDERS: NAME/POSITION/COMP TYPE | Gross Compensation | Relocation Taxable Earnings | PTO Retro Regular Earnings | |||
| Name | Title | Geographical Allowance | Regular Earnings | |||
| 1 Beringause, Eric | President and CEO | $ - | $ - | $ - | $ - | $ - |
| 2 Ekpo, Bassey | SVP Business Innovation | - | - | - | - | - |
| 3 Murray, Thomas N. | SVP Chief Commercial Officer | - | - | - | - | - |
| 4 Rahlfs, Gary W | SVP Chief Financial Officer | 18,810 | - | 18,810 | - | - |
| 5 Riley, Brian K | SVP Operations | - | - | - | - | - |
| 6 Waterman, Kristy N | SVP Gen Counsel & Corp Secret | - | - | - | - | - |
| 7 Wolljung, Gregory A | SVP Logistics | - | - | - | - | - |
| Grand Total | $ 18,810 | $ - | $ 18,810 | $ - | $ - | |
MOR-9
Cover |
Apr. 29, 2021 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Apr. 29, 2021 |
| Entity File Number | 001-12755 |
| Entity Registrant Name | DEAN FOODS COMPANY |
| Entity Central Index Key | 0000931336 |
| Entity Tax Identification Number | 75-2559681 |
| Entity Incorporation, State or Country Code | DE |
| Entity Address, Address Line One | 2711 North Haskell Ave. |
| Entity Address, Address Line Two | Suite 3400 |
| Entity Address, City or Town | Dallas |
| Entity Address, State or Province | TX |
| Entity Address, Postal Zip Code | 75204 |
| City Area Code | (214) |
| Local Phone Number | 303-3400 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Entity Emerging Growth Company | false |
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