Avid 2009 Annual Report Download - page 52

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47
AVID TECHNOLOGY, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
December 31,
December 31,
2009
2008
ASSETS
Current assets:
Cash and cash equivalents
$
91,517
$
121,792
Marketable securities
17,360
25,902
Accounts receivable, net of allowances of $16,347 and $23,182 at December 31, 2009 and
2008, respectively
79,741
103,527
Inventories
77,243
95,755
Deferred tax assets, net
770
612
Prepaid expenses
7,789
9,274
Other current assets
22,516
34,083
Total current assets
296,936
390,945
Property and equipment, net
37,217
38,321
Intangible assets, net
29,235
38,143
Goodwill
227,195
225,375
Other assets
20,455
10,801
Total assets
$
611,038
$
703,585
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
30,230
$
29,419
Accrued compensation and benefits
25,281
27,346
Accrued expenses and other current liabilities
55,591
64,511
Income taxes payable
3,228
9,250
Deferred revenues
39,107
68,581
Total current liabilities
153,437
199,107
Long-term liabilities
14,483
11,823
Total liabilities
167,920
210,930
Commitments and contingencies (Notes H and J)
Stockholders’ equity:
Preferred stock, $0.01 par value, 1,000 shares authorized; no shares issued or outstanding
—
—
Common stock, $0.01 par value, 100,000 shares authorized; 42,339 shares and 42,339 shares
issued and 37,486 and 37,131 outstanding at December 31, 2009 and 2008, respectively
423
423
Additional paid-in capital
992,489
980,563
Accumulated deficit
(444,661
)
(365,431
)
Treasury stock at cost, net of reissuances, 4,853 shares and 5,208 shares at December 31, 2009
and 2008, respectively
(112,389
)
(124,852
)
Accumulated other comprehensive income
7,256
1,952
Total stockholders’ equity
443,118
492,655
Total liabilities and stockholders’ equity
$
611,038
$
703,585
The accompanying notes are an integral part of the consolidated financial statements.