Circuit City 1997 Annual Report Download - page 18
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GLOBAL DIRECTMAIL CORP
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 1997 AND 1996
(IN THOUSANDS)
1997 1996
---- ----
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 43,432 $ 35,211
Short term investments 9,017 31,031
Accounts receivable, net 132,741 111,709
Inventories 102,599 93,033
Prepaid catalog expense 11,917 12,305
Other prepaid expenses and current assets 9,565 7,427
Deferred income tax benefit 4,059 3,266
--------- ----------
Total current assets 313,330 293,982
PROPERTY, PLANT AND EQUIPMENT, net 29,401 21,878
GOODWILL, net 53,258 13,545
DEFERRED INCOME TAX BENEFIT 3,122 -
OTHER ASSETS 634 2,034
--------- ----------
TOTAL $ 399,745 $ 331,439
========= ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 125,562 $ 99,053
Current portion of long-term debt 12 495
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Total current liabilities 125,574 99,548
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LONG-TERM DEBT 1,972 2,030
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DEFERRED INCOME TAXES - 1,224
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COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred shares - -
Common shares 382 379
Additional paid-in capital 176,743 168,356
Retained earnings 97,204 58,392
Cumulative translation adjustment (2,130) 1,510
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Total shareholders' equity 272,199 228,637
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TOTAL $ 399,745 $ 331,439
========= ==========
See notes to consolidated financial statements.