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Related-Party Transactions
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9 Months Ended |
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Dec. 31, 2012
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| Related-Party Transactions |
Related-Party Transactions
We paid management fees, including a termination fee, of $8,120 in connection with our IPO to our private equity sponsors in the nine months ended December 31, 2011. The termination fee is included as part of Marketing, general and administrative and engineering expense. We did not pay management fees during the nine months ended December 31, 2012.
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transactions,” which totaled $3,325 and $3,528 at December 31, 2012 and March 31, 2012, respectively. These amounts represent amounts due to the Predecessor owners in final settlement of the acquisition by our private equity sponsors of a controlling interest in us that was completed on April 30, 2010. During the three and nine months ended December 31, 2012, we paid $67 and $203, respectively to the Predecessor owners and during the three and nine months ended December 31, 2011 we paid, $137 and $663, respectively to the Predecessor owners, in each case reflected in "Obligations due to settle the CHS Transactions". At December 31, 2012, the amount outstanding represents the estimate of tax refunds due from government entities that have not been received but are related to the final tax periods filed by the Predecessor and remaining encumbered cash to be released as letters of credit expire.
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Thermon Holding Corp.
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| Related-Party Transactions |
Related-Party Transactions
We paid management fees, including a termination fee, of $8,120 in connection with our IPO to our private equity sponsors in the nine months ended December 31, 2011. The termination fee is included as part of Marketing, general and administrative and engineering expense. We did not pay management fees during the nine months ended December 31, 2012.
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transaction,” which totaled $3,325 and $3,528 at December 31, 2012 and March 31, 2012, respectively. These amounts represent amounts due to the Predecessor owners in final settlement of the acquisition by our private equity sponsors of a controlling interest in us that was completed on April 30, 2010. During the three and nine months ended December 31, 2012, we paid $67 and $203 respectively to the Predecessor owners and for the three and nine months ended December 31, 2011 we paid $137 and $663, respectively to the Predecessor owners, in each case reflected in "Obligations due to settle the CHS Transactions". At December 31, 2012, the amount outstanding represents the estimate of tax refunds due from government entities that have not been received but are related to the final tax periods filed by the Predecessor and remaining encumbered cash to be released as letters of credit expire.
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