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30
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
2006 2005
Assets
Current assets:
Cash and cash equivalents $ 148,081 $ 201,250
Marketable securities 203,515 370,500
Accounts receivable, net of allowance for doubtful
accounts of $9,995 and $9,564, respectively 850,002 637,245
Merchandise inventory 261,858 243,564
Miscellaneous receivables 55,881 27,848
Deferred income taxes 15,060 12,562
Prepaid expenses and other 15,139 8,274
Total current assets 1,549,536 1,501,243
Marketable securities 40,000 39,176
Property and equipment, net 171,448 97,277
Goodwill 119,491 -
Other intangible assets, net 63,603 4,767
Other assets 7,349 6,593
Total assets $ 1,951,427 $ 1,649,056
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $ 354,307 $ 245,201
Accrued expenses:
Compensation 54,301 42,585
Income taxes 4,028 7,409
Sales taxes 20,378 21,473
Advertising 28,775 18,193
Other 67,592 32,900
Total current liabilities 529,381 367,761
Deferred income taxes 10,762 -
Other liabilities 24,119 16,730
Commitments and contingencies - -
Shareholders’ equity:
Preferred shares, $1.00 par value; 5,000 shares authorized;
none issued - -
Common shares, $.01 par value; 500,000 shares authorized;
96,312 and 93,447 shares issued, respectively 963 934
Paid-in capital 631,984 507,832
Retained earnings 1,630,620 1,405,263
Unearned compensation - (400)
Accumulated other comprehensive income 494 163
2,264,061 1,913,792
Less cost of common shares in treasury; 17,543 shares and
13,483 shares, respectively (876,896) (649,227)
Total shareholders’ equity 1,387,165 1,264,565
Total liabilities and shareholders’ equity $ 1,951,427 $ 1,649,056
The accompanying notes are an integral part of the consolidated financial statements.