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This excerpt taken from the HBI 8-K filed Nov 29, 2006. Amounts
due to or from Parent Companies and Related
Entities
A significant portion of the cash and cash equivalents on our
balance sheet has been generated from our controlled foreign
corporations and is located outside of the United States. When
we were owned by Sara Lee, its policy was to determine at the
end of each fiscal year the amount of cash to be repatriated to
the United States and the amount to be permanently reinvested
outside of the United States. As a result of decisions made in
prior years to permanently reinvest earnings in foreign
jurisdictions, our domestic operations have borrowed
periodically from Sara Lee to meet funding requirements. In
cases where our domestic operations had excess cash, the excess
cash was swept into Sara Lee’s cash pooling accounts or
lent to Sara Lee-related entities. Ultimately, the amounts owed
to or due from Sara Lee and its related entities were driven by
Sara Lee’s cash management policies and our operating
requirements. These amounts have historically totaled as follows:
Changes in these balances are the result of operational funding
needs and Sara Lee’s cash management requirements. These
items are further described in Note 20, titled
“Relationship with Sara Lee and Related Entities,” to
our Combined and Consolidated Financial Statements. All amounts
payable to or receivable from Sara Lee and its related entities
were extinguished as part of the spin off which occurred on
September 5, 2006.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Amounts
due to or from Parent Companies and Related
Entities
A significant portion of the cash and cash equivalents on our
balance sheet has been generated from our controlled foreign
corporations and is located outside of the United States. When
we were owned by Sara Lee, its policy was to determine at the
end of each fiscal year the amount of cash to be repatriated to
the United States and the amount to be permanently reinvested
outside of the United States. As a result of decisions made in
prior years to permanently reinvest earnings in foreign
jurisdictions, our domestic operations have borrowed
periodically from Sara Lee to meet funding requirements. In
cases where our domestic operations had excess cash, the excess
cash was swept into Sara Lee’s cash pooling accounts or
lent to Sara Lee-related entities. Ultimately, the amounts owed
to or due from Sara Lee and its related entities were driven by
Sara Lee’s cash management policies and our operating
requirements. These amounts have historically totaled as follows:
Changes in these balances are the result of operational funding
needs and Sara Lee’s cash management requirements. These
items are further described in Note 20, titled
“Relationship with Sara Lee and Related Entities,” to
our Combined and Consolidated Financial Statements. All amounts
payable to or receivable from Sara Lee and its related entities
were extinguished as part of the spin off which occurred on
September 5, 2006.
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Amounts due to or from Parent Companies and Related Entities The amounts due (to) from parent companies and related entities were as follows:
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