CompUSA 2008 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2008 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 98

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

40
SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except for share data)
December 31,
2008 2007
ASSETS:
Current assets:
Cash and cash equivalents $ 115,967 $ 128,021
Accounts receivable, net of allowances of $9,146 and $12,122 190,909 207,460
Inventories 282,217 250,222
Prepaid expenses and other current assets 12,667 13,902
Deferred income taxes 10,423 10,657
Total current assets 612,183 610,262
Property, plant and equipment, net 48,465 47,580
Deferred income taxes 11,452 18,652
Goodwill and intangibles 30,326
Other assets 837 1,150
Total assets $ 703,263 $ 677,644
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Short-term borrowings, including current portion of capitalized lease obligations $ 773 $ 4,302
Accounts payable 284,378 248,673
Accrued expenses and other current liabilities 75,603 81,637
Deferred income taxes 865 1,297
Total current liabilities 361,619 335,909
Capitalized lease obligations 1,411 254
Deferred income taxes 254 3
Other liabilities 6,024 5,643
Total liabilities 369,308 341,809
Commitments and contingencies
Shareholders’ equity:
Preferred stock, par value $.01 per share, authorized 25 million shares;
issued none
Common stock, par value $.01 per share, authorized 150 million shares; issued
38,855,989 and 38,332,990 shares; outstanding 36,223,747 and 36,092,067
shares
389 383
Additional paid-in capital 179,241 173,381
Common stock in treasury at cost – 2,632,242 and 2,240,923 shares (31,158) (26,324)
Retained earnings 192,401 176,684
Accumulated other comprehensive (loss) income, net of tax (6,918) 11,711
Total shareholders’ equity 333,955 335,835
Total liabilities and shareholders’ equity $ 703,263 $ 677,644
See notes to consolidated financial statements.