Adobe 1998 Annual Report Download - page 41

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ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
November 27 November 28
1998 1997
ASSETS
Current assets:
Cash and cash equivalents .................................... $110,871 $ 267,576
Short-term investments ...................................... 161,676 235,380
Receivables, net of allowances for doubtful accounts of $6,399 and $3,634,
respectively ............................................. 141,180 130,974
Deferred income taxes ...................................... 32,028 25,824
Other current assets ........................................ 10,190 19,192
Total current assets ....................................... 455,945 678,946
Property and equipment, net .................................... 93,887 80,978
Deferred income taxes ........................................ 16,647 16,999
Other assets ................................................ 200,852 163,148
$ 767,331 $ 940,071
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade and other payables .................................... $ 48,681 $ 57,857
Accrued expenses .......................................... 117,539 97,295
Accrued restructuring charges ................................. 8,867 8,383
Income taxes payable ....................................... 64,546 48,343
Deferred revenue .......................................... 11,333 12,769
Total current liabilities ..................................... 250,966 224,647
Stockholders’ equity:
Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued . . — —
Common stock, $0.0001 par value; Authorized: 200,000 shares; Issued:
73,941 shares in 1998 and 1997; and additional paid-in capital ........ 306,859 291,281
Retained earnings .......................................... 732,730 663,861
Unrealized gains on investments, net ............................ 823 3,590
Cumulative translation adjustment .............................. (2,702) (4,620)
Treasury stock, at cost (13,050 and 5,176 shares in 1998 and 1997,
respectively), net of reissuances .............................. (521,345) (238,688)
Total stockholders’ equity ................................... 516,365 715,424
$ 767,331 $ 940,071
See accompanying Notes to Consolidated Financial Statements.
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