Callaway 2000 Annual Report Download - page 30

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Callaway Golf Company | 30
CONSOLIDATED BALANCE SHEET
(in thousands, except share and per share data) December 31,
2000 1999
ASSETS
Current assets:
Cash and cash equivalents $102,596 $112,602
Accounts receivable, net 58,836 54,252
Inventories, net 133,962 97,938
Deferred taxes 29,354 32,558
Other current assets 17,721 13,122
Total current assets 342,469 310,472
Property, plant and equipment, net 134,712 142,214
Intangible assets, net 112,824 120,143
Other assets 40,929 43,954
$630,934 $616,783
LIABILITIES AND SHAREHOLDER’S EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 44,173 $ 46,664
Accrued employee compensation and benefits 22,574 21,126
Accrued warranty expense 39,363 36,105
Accrued restructuring costs 1,379
Income taxes payable 3,196
Total current liabilities 109,306 105,274
Long-term liabilities:
Deferred compensation 9,884 11,575
Commitments and contingencies (Note 13)
Shareholders’ equity:
Preferred Stock, $.01 par value, 3,000,000 shares authorized, none issued
and outstanding at December 31, 2000 and 1999
Common Stock, $.01 par value, 240,000,000 shares authorized,
78,958,963 and 76,302,196 issued December 31, 2000 and 1999 790 763
Paid-in capital 347,765 307,329
Unearned compensation (1,214) (2,784)
Retained earnings 349,681 288,090
Accumulated other comprehensive income (6,096) 280
Less: Grantor Stock Trust (5,300,000 shares at December 31, 2000
and 1999) at market (Note 8) (98,713) (93,744)
592,213 499,934
Less: Common Stock held in treasury, at cost, 4,815,241 shares at
December 31, 2000 and none at December 31, 1999 (80,469)
Total shareholders’ equity 511,744 499,934
$630,934 $616,783
The accompanying notes are an integral part of these financial statements.