Document 8279Re7avRKxN60D45MmN9Zxa

MAFCO CONSOLIDATED GROUP INC (Form: 10-K, Received: 03/28/1997 00:00:0.. Page 89 of 116 Understanding contemplates the drafting and execution of a Stipulation of Settlement by the parties and its approval by the Chancery Court, which approval is expected to occur in the third quarter of 1997 On March 26,1997, Cigar Holdings completed a public offering of 5,000,000 shares of the Cigar Common Stock at an offering price of $23 75 per share All of the shares sold were owned by MC Group. In addition, the underwriters have been granted an overallotment option to purchase an additional 750,000 shares, which as of the date hereof has not been exercised F-33 SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (DOLLARS IN THOUSANDS) DESCRIPTION BALANCE AT BEGINNING OF PERIOD CHARGED TO COSTS AND EXPENSES Year ended December 31, 1994 Deducted from asset accounts: Sales allowances Allowance for doubtful accounts Inventory reserves Totals $ 2,734 1,867 514 $ 5,115 $145 247 $ 392 Year ended December 31, 1995 Deducted from asset accounts. Sales allowances Allowance for doubtful accounts Inventory reserves Totals $ 2,734 1, 951 761 $ 5,446 $ 650 206 198 $ 1,054 Year ended December 31, 1996 Deducted from asset accounts Sales allowances Allowance for doubtful accounts Inventory reserves Totals $ 3,384 1,967 822 $ 6, 173 $ 1,557 (634) 818 $ 1,741 I <*! * * <*! <: <: H (1) Doubtful accounts written off, less recoveries, reclassifications and foreign translation adjustment and effects of businesses sold F-34 http7/www.edgarpro.com/EFX dll/EDGARpro dlUFetchFilingHTMLl?ID=969943&Ses 10/19/2003