DAR » Topics » AVAILABLE INFORMATION

This excerpt taken from the DAR 10-K filed Mar 16, 2006.

AVAILABLE INFORMATION

 

Under the Securities Exchange Act of 1934, the Company is required to file annual, quarterly and special reports, proxy statements and other information with the SEC, which can be read and/or copies made at the SEC’s Public Reference Room at 450 Fifth Street, N.W., Washington DC 20549. Please call the SEC at 1-800-SEC-0330 for further information about the Public Reference Room. The SEC maintains a web site at http://www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The Company files electronically with the SEC.

 

The Company makes available, free of charge, through its investor relations web site, its reports on Forms 10-K, 10-Q and 8-K, and amendments to those reports, as soon as reasonably practicable after they are filed with, or furnished to, the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act. The address for the Company’s investor relations web site is http://www.darlingii.com/investors/investors.html.

 

 

ITEM 1A.

RISK FACTORS

 

Any investment in the Company will be subject to risks inherent to the Company’s business. Before making an investment decision in the Company, you should carefully consider the risks described below together with all of the other information included in or incorporated by reference into this report. If any of the events described in the following risk factors actually occurs, the Company’s business, financial condition or results of operations could be materially and adversely affected. If any of these events occurs, the trading price of the Company’s securities could decline and you may lose all or part of your investment.

 

This excerpt taken from the DAR 10-K filed Mar 17, 2005.

AVAILABLE INFORMATION

        Under the Securities Exchange Act of 1934, we are required to file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any document we file at the SEC’s public reference room at 450 Fifth Street, N.W., Washington DC 20549. Please call the SEC at 1-800-SEC-0330 for further information about the public reference room. The SEC maintains a web site at http://www.sec.gov that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. We file electronically with the SEC.

        The Company makes available, free of charge, through its investor relations web site, its reports on Forms 10-K, 10-Q and 8-K, and amendments to those reports, as soon as reasonably practicable after they are filed with, or furnished to, the SEC. The address for the Company’s investor relations web site is http://www.darlingii.com/investors/investors.html.



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ITEM 2. PROPERTIES

        The Company’s corporate headquarters are located at 251 O’Connor Ridge Boulevard, Suite 300, Irving, Texas in an office facility, where the Company leases approximately 20,000 square feet.

        The Company’s 24 operating facilities consist of 18 full service rendering plants, 4 yellow grease/trap grease plants, 1 blending plant and 1 technical plant. Except for 4 leased facilities, all of these facilities are owned by the Company. In addition, the Company owns or leases 20 transfer stations in the United States that serve as collection points for routing raw material to the processing plants set forth below. Some locations service a single business segment while others service both business segments. The following is a listing of the Company’s operating facilities by business segment:

   LOCATION DESCRIPTION

   Combined Rendering and Restaurant Services Business Segments

   Blue Earth, MN Rendering/Yellow Grease
   Boise, ID Rendering/Yellow Grease
   Coldwater, MI Rendering/Yellow Grease
   Collinsville, OK Rendering/Yellow Grease
   Dallas, TX Rendering/Yellow Grease
   Detroit, MI Rendering/Yellow Grease/Trap
   Fresno, CA Rendering/Yellow Grease
   Houston, TX Rendering/Yellow Grease/Trap
   Kansas City, KS Rendering/Yellow Grease/Trap
   Los Angeles, CA Rendering/Yellow Grease/Trap
   Newark, NJ Rendering/Yellow Grease/Trap
   San Francisco, CA * Rendering/Yellow Grease/Trap
   Sioux City, IA Rendering/Yellow Grease
   St. Louis, MO Rendering/Yellow Grease/Trap
   Tacoma, WA * Rendering/Yellow Grease/Trap
   Turlock, CA Rendering/Yellow Grease
   Wahoo, NE Rendering/Yellow Grease

   Rendering Business Segments
   Omaha, NE Rendering
   Omaha, NE * Blending
   Omaha, NE Technical Tallow

   Restaurant Services Business Segments
   Chicago, IL Yellow Grease/Trap
   Ft. Lauderdale, FL * Yellow Grease/Trap
   No. Las Vegas, NV Yellow Grease/Trap
   Tampa, FL Yellow Grease/Trap



  *     Property is leased. Annual rent expense for these leased properties in the aggregate was $0.6 million in Fiscal 2004.

  Substantially all assets of the Company, including real property, are either pledged or mortgaged as collateral for borrowings under the Company’s Senior Credit Agreement.



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ITEM 3. LEGAL PROCEEDINGS

  LITIGATION

  The Company is a party to several lawsuits, claims and loss contingencies incidental to its business, including assertions by certain regulatory agencies related to air, wastewater, and storm water discharges from the Company’s processing facilities.
 
  Self Insured Risks
 
  The Company purchases its workers compensation, auto and general liability insurance on a retrospective basis. The Company estimates and accrues its expected ultimate costs related to claims occurring during each fiscal year and carries this accrual as a reserve until such claims are paid by the Company.
 
  As a result of the matters discussed above, the Company has established loss reserves for insurance, environmental and litigation matters. At January 1, 2005 and January 3, 2004, the reserve for insurance, environmental and litigation contingencies reflected on the balance sheet in accrued expenses and other non-current liabilities were approximately $13.9 million and $12.4 million, respectively. Management of the Company believes these reserves for contingencies are reasonable and sufficient based upon present governmental regulations and information currently available to management; however, there can be no assurance that final costs related to these matters will not exceed current estimates. The Company believes that any additional liability relative to such lawsuits and claims which may not be covered by insurance would not likely have a material adverse effect on the Company’s financial position, although it could potentially have a material impact on the results of operations in any one year.
 
  During the third quarter of Fiscal 2004, the Company concluded a settlement with certain past insurers on certain policies of insurance issued primarily before 1972, whereby the Company received a cash payment of approximately $2.8 million in return for an executed Settlement Agreement and Release in which the Company released the participating insurers from all actual and potential claims and liability under the subject insurance policies. The Company recorded receipt of the payment as a credit (recovery) of claims expense and previous insurance premiums included in cost of sales, within the Corporate segment.


ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

  No matters were submitted to a vote of security holders during the quarter ended January 1, 2005.



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EXCERPTS ON THIS PAGE:

10-K
Mar 16, 2006
10-K
Mar 17, 2005
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