American Home Shield 2002 Annual Report Download - page 40

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(In thousands) (Restated 1)
As of December 31, 2002 2001
Assets:
Current Assets:
Cash and cash equivalents $ 227,409 $ 402,644
Marketable securities 75,194 72,429
Receivables, less allowances of $27,616 and $28,397, respectively 332,186 340,935
Inventories 67,748 68,036
Prepaid expenses and other assets 39,464 34,734
Deferred customer acquisition costs 48,419 46,004
Deferred taxes and income taxes receivable 123,100 90,200
Assets of discontinued operations 5,654 64,068
Total Current Assets 919,174 1,119,050
Property and Equipment:
At cost 413,939 469,140
Less: accumulated depreciation (219,062) (272,930)
Net Property and Equipment 194,877 196,210
Other Assets:
Goodwill 1,919,780 1,904,178
Intangible assets, primarily trade names 257,781 261,136
Notes receivable 55,770 59,204
Long-term securities and other assets 67,556 81,467
Total Assets $3,414,938 $3,621,245
Liabilities and Shareholders’ Equity:
Current Liabilities:
Accounts payable $ 92,121 $ 97,251
Accrued liabilities:
Payroll and related expenses 99,504 83,182
Self-insured claims and related expenses 84,521 63,819
Other 102,380 131,780
Deferred revenues 397,290 343,873
Liabilities of discontinued operations 32,113 50,449
Current portion of long-term debt 31,135 34,944
Total Current Liabilities 839,064 805,298
Long-Term Debt 804,340 1,120,249
Long-Term Liabilities:
Deferred taxes 312,500 233,000
Liabilities of discontinued operations 28,800 50,600
Other long-term obligations 111,225 102,234
Total Long-Term Liabilities 452,525 385,834
Minority Interest 100,309 102,677
Commitments and Contingencies (See Note)
Shareholders’ Equity:
Common stock $0.01 par value, authorized 1 billion shares;
issued 316,024 and 314,538, respectively 3,160 3,145
Additional paid-in capital 1,054,272 1,039,228
Retained earnings 355,893 322,103
Accumulated other comprehensive loss (849) (2,496)
Restricted stock (1,988) (581)
Treasury stock (191,788) (154,212)
Total Shareholders’ Equity 1,218,700 1,207,187
Total Liabilities and Shareholders’ Equity $3,414,938 $3,621,245
(1) See the “Restatement” section in the Notes to the Consolidated Financial Statements for the basis of the restatement and the financial statement
impact.
See accompanying Notes to the Consolidated Financial Statements
36 ServiceMaster
Consolidated Statements of Financial Position