Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 08/14/2002
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    Payments Due by Period
   
Zapata Consolidated           Less than   1 to 3   4 to 5   After 5
Contractual Cash Obligations   Total   1 year   years   years   Years
 
 
 
 
 
Long Term Debt
   $ 16,115     $ 1,231     $ 2,710     $ 3,054     $ 9,120  
Operating Leases
     2,364       668       1,115       230       351  
Consulting Agreement
     5,428       1,480       3,948       —       —  
Minimum Pension Liability
     5,918       —       —       —       5,918  
 
    
     
     
     
     
 
Total Contractual Cash Obligations
   $ 29,825     $ 3,379     $ 7,773     $ 3,284     $ 15,389  
 
    
     
     
     
     
 
                                         
    Amount of Commitment Expiration Per Period
   
Zapata Consolidated           Less than   1 to 3   4 to 5   After 5
Other Commercial Commitments   Total   1 year   years   years   Years
 
 
 
 
 
Credit Facility (1)
   $ 13,749     $ —     $ —     $ —     $ —  
Standby Letters of Credit
     2,560       2,560       —       —       —  
 
    
     
     
     
     
 
Total Commercial Commitments
   $ 16,309     $ 2,560     $ —     $ —     $ —  
 
    
     
     
     
     
 

(1)   As of June 30, 2002, Omega had no outstanding borrowings outstanding under the $20.0 million Credit Facility.

Because Zapata does not guarantee or otherwise assume any liability for Omega Protein or Zap.Com or have any investment commitments to either Omega Protein or Zap.Com, it is useful to separately review the cash obligations of Zapata exclusive of Omega and Zap.Com (“Zapata Corporate”). The following table summarizes information about Zapata Corporate’s contractual cash obligations (in thousands) as of June 30, 2002, and the effects such obligations are expected to have on Zapata Corporate’s liquidity and cash flow in future periods:

                                         
    Payments Due by Period
   
Zapata Corporate           Less than   1 to 3   4 to 5   After 5
Contractual Cash Obligations   Total   1 year   years   years   Years
 
 
 
 
 
Operating Leases
   $ 553     $ 195     $ 358     $ —     $ —  
Consulting Agreement
     5,428       1,480       3,948       —       —  
Minimum Pension Liability
     201       —       —       —       201  
 
    
     
     
     
     
 
Total Contractual Cash Obligations
   $ 6,182     $ 1,675     $ 4,306     $ —     $ 201  
 
    
     
     
     
     
 

Zapata’s management believes that these liabilities have no material impact on Zapata Corporate’s liquidity and capital resources. As of the date of this report, Zapata Corporate had no other commercial commitments which may impact its capital resources and liquidity.

In the absence of unforeseen developments, Zapata believes that it has sufficient liquidity to fund its operating expenses and other operational requirements at least for the 12 months following the date of this report.

Summary of Cash Flows

The following table summarizes Zapata’s consolidated cash flow information (in thousands):

                 
    Six Months Ended   Six Months Ended
    June 30,   June 30,
Zapata Consolidated   2002   2001
 
 
Cash provided by (used in)
                
Operating activities
   $ 25,112     $ 7,958  
Investing activities
     (46,325 )     37,267  
Financing activities
     (691 )     (533 )
 
    
     
 
Net (decrease) increase in cash and cash equivalents
   $ (21,904 )   $ 44,692  
 
    
     
 

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