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9. Related-Party Transactions
We paid management fees including a termination fee in connection with our IPO to our private equity sponsors of $8,120 in the six months ended September 30, 2011. In the prior year periods of May 1 to September 30, 2010 and April 1 to April 30, 2010, we paid management fees (both “Successor” and “Predecessor”) of $833 and $79, respectively. Management fees including the termination fee are included as part of Marketing, general and administrative and engineering expense. Additionally, in the prior year periods of May 1 to September 30, 2010 and April 1 to April 30, 2010, we paid success fees to owners (both Successor and Predecessor) of $3,022 and $4,716, respectively.
Included in our consolidated balance sheet is “Obligations due to settle the CHS Transaction” which totaled $3,687 and $4,213 at September 30, 2011 and March 31, 2011, respectively. These amounts represent amounts due to the Predecessor owners in final settlement of the sale that was completed on April 30, 2010. During the three and six months ended September 30, 2011, we paid $154 and $526, respectively, to the Predecessor owners for cash amounts that were released during the three month period. At September 30, 2011, 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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