CDW 2014 Annual Report Download - page 65
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Table of Contents
The accompanying notes are an integral part of the consolidated financial statements.
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except per-share amounts)
December 31,
2014
2013
Assets
Current assets:
Cash and cash equivalents
$
344.5
$
188.1
Accounts receivable, net of allowance for doubtful accounts of $5.7 and $5.4, respectively
1,561.1
1,451.0
Merchandise inventory
337.5
382.0
Miscellaneous receivables
155.6
146.3
Prepaid expenses and other
54.7
46.1
Total current assets
2,453.4
2,213.5
Property and equipment, net
137.2
131.1
Equity investments
86.7
—
Goodwill
2,217.6
2,220.3
Other intangible assets, net
1,168.8
1,328.0
Deferred financing costs, net
33.0
30.1
Other assets
3.2
1.6
Total assets
$
6,099.9
$
5,924.6
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable-trade
$
704.0
$
662.8
Accounts payable-inventory financing
332.1
256.6
Current maturities of long-term debt
15.4
45.4
Deferred revenue
81.3
94.8
Accrued expenses:
Compensation
130.1
112.2
Interest
28.1
31.8
Sales taxes
29.1
29.2
Advertising
34.0
33.2
Income taxes
0.2
6.3
Other
113.7
130.3
Total current liabilities
1,468.0
1,402.6
Long-term liabilities:
Debt
3,174.6
3,205.8
Deferred income taxes
475.0
563.5
Other liabilities
45.8
41.0
Total long-term liabilities
3,695.4
3,810.3
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred shares, $0.01 par value, 100.0 shares authorized, and no shares issued or outstanding for both periods —
—
Common shares, $0.01 par value, 1,000.0 shares authorized; 172.2 and 172.0 shares issued, respectively; 172.2 and 172.0 shares
outstanding, respectively
1.7
1.7
Paid-in capital
2,711.9
2,688.1
Accumulated deficit
(1,760.5
)
(1,971.8
)
Accumulated other comprehensive loss
(16.6
)
(6.3
)
Total shareholders’ equity
936.5
711.7
Total liabilities and shareholders’ equity
$
6,099.9
$
5,924.6