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Related-Party Transactions
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12 Months Ended |
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Mar. 31, 2013
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| Related Party Transactions [Abstract] | |
| Related-Party Transactions |
Related-Party Transactions
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transactions,” which totaled $3,239 and $3,528 at March 31, 2013 and March 31, 2012, respectively. These amounts represent amounts due to the predecessor owners in final settlement of the acquisition by our former private equity sponsors of a controlling interest in us that was completed on April 30, 2010. During fiscal 2013, fiscal 2012, and for the period from May 1, 2010 to March 31, 2011 we paid $289, $685, and $2,962, respectively, to the predecessor owners, in each case reflected in "Obligations due to settle the CHS Transactions". At March 31, 2013, 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.
We paid management and transaction success fees to, and reimbursed the out of pocket expenses of, our former private equity sponsors of $8,158 and $8,569 in fiscal 2012 and in the period from May 1, 2010 to March 31, 2011, respectively. The amount in fiscal 2012 was reported as part of marketing general and administrative and engineering expense and included $7,400 paid to the former private equity sponsors in fees for the termination of their respective management agreements. Of the amount in the period from May 1, 2010 to March 31, 2011, $620 was included in prepaid expenses and has since been expensed, $2,605 was included as debt issuance costs, net on the consolidated balance sheet, $3,022 was included in success fees to owners related to the CHS Transactions expense, $398 was included in miscellaneous expense, and $1,924 of management fees to our former private equity sponsors was included in marketing, general and administrative and engineering expense.
The predecessor paid management fees and expenses to its private equity sponsor, Audax, in the period from April 1 to April 30, 2010 of $4,795. Of this amount $79 was included in marketing, general and administrative and engineering expense and $4,716 was included in Success fees to owners related to the CHS Transactions.
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