EX-99.1 2 dp150145_ex9901.htm EXHIBIT 99.1

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