Columbia Sportswear 2003 Annual Report Download - page 39

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COLUMBIA SPORTSWEAR COMPANY
CONSOLIDATED BALANCE SHEETS
(In thousands)
December 31,
2003 2002
ASSETS
Current Assets:
Cash and cash equivalents ............................................... $264,585 $194,670
Accounts receivable, net (Note 2) ......................................... 206,024 154,099
Inventories, net (Note 4) ................................................ 126,808 94,862
Deferred tax asset (Note 10) ............................................. 17,442 10,840
Prepaid expenses and other current assets .................................. 6,028 6,006
Total current assets ................................................ 620,887 460,477
Property, plant, and equipment, net (Note 5) .................................... 126,247 124,515
Intangibles and other assets (Note 2) .......................................... 24,475 7,825
Goodwill (Note 2) ......................................................... 12,157 —
Total assets ...................................................... $783,766 $592,817
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Notespayable(Note6) ................................................. $ — $ 9,835
Accounts payable ..................................................... 62,432 49,370
Accrued liabilities (Note 7) .............................................. 43,789 35,146
Incometaxespayable .................................................. 8,069 —
Current portion of long-term debt (Note 8) .................................. 4,596 4,498
Total current liabilities ............................................. 118,886 98,849
Long-term debt (Note 8) .................................................... 16,335 20,636
Deferred tax liability (Note 10) ............................................... 7,716 613
Total liabilities ................................................... 142,937 120,098
Commitments and contingencies (Note 12)
Shareholders’ Equity:
Preferred stock; 10,000 shares authorized; none issued and outstanding ........... — —
Common stock; 125,000 shares authorized; 40,253 and 39,737 issued and
outstanding (Note 9) ................................................. 182,188 159,996
Retained earnings ..................................................... 435,364 315,243
Accumulated other comprehensive income (loss) (Note 15) .................... 23,277 (1,156)
Unearned portion of restricted stock issued for future services (Note 14) .......... — (1,364)
Total shareholders’ equity ........................................... 640,829 472,719
Total liabilities and shareholders’ equity ............................... $783,766 $592,817
See accompanying notes to consolidated financial statements.
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