2K Sports 2003 Annual Report Download - page 29

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October 31,
ASSETS 2003 2002
(Restated)
Current assets
Cash and cash equivalents $183,477 $108,369
Accounts receivable, net of allowances
of $62,817 and $30,806 at October 31, 2003 and 2002, respectively 166,536 105,576
Inventories 101,748 74,391
Prepaid royalties 12,196 14,215
Prepaid expenses and other current assets 41,112 19,569
Deferred tax asset 8,333 6,245
Total current assets 513,402 328,365
Fixed assets, net 22,260 15,319
Prepaid royalties 8,439 12,203
Capitalized software development costs, net 16,336 10,385
Investments —97
Goodwill, net 101,498 61,529
Intangibles, net 44,836 55,293
Deferred tax asset —7,983
Other assets, net 527 266
Total assets $707,298 $491,440
LIABILITIES and STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable $106,172 $ 79,660
Accrued expenses and other current liabilities 56,707 50,698
Income taxes payable 2,265 1,357
Current portion of capital lease obligation 103 95
Total current liabilities 165,247 131,810
Capital lease obligation, net of current portion 73 201
Deferred tax liability 8,486 3,885
Total liabilities 173,806 135,896
Stockholders’ equity
Common stock, par value $.01 per share; 50,000,000 shares authorized
(100,000,000 as of November 17, 2003); 44,227,215 and 40,361,739
shares issued and outstanding at October 31, 2003 and 2002, respectively 442 404
Additional paid-in capital 350,852 273,502
Deferred compensation (1,890) (227)
Retained earnings 185,024 86,906
Accumulated other comprehensive loss (936) (5,041)
Total stockholders’ equity 533,492 355,544
Total liabilities and stockholders’ equity $707,298 $491,440
The accompanying notes are an integral part of these consolidated financial statements.
TAKE-TWO INTERACTIVE SOFTWARE, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except share data)
27