Quarterly report pursuant to Section 13 or 15(d)

Related-Party Transactions

v2.4.0.6
Related-Party Transactions
 3 Months Ended
Jun. 30, 2012
Related-Party Transactions  
Related-Party Transactions

7. Related-Party Transactions

 

We paid management fees including a termination fee in connection with our IPO to our private equity sponsors of $8,105 in the three months ended June 30, 2011.  The termination fee is included as part of Marketing, general and administrative and engineering expense.

 

Included in our consolidated balance sheet is “Obligations due to settle the CHS Transaction” which totaled $3,397 and $3,528 at June 30, 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 months ended June 30, 2012 and 2011, we paid $131 and $372, respectively, to the Predecessor owners for cash amounts that were released during the respective three month periods.  At June 30, 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.