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SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except for share data)
See notes to consolidated financial statements.
43
Table of Contents
December 31,
2013
2012
ASSETS:
Current assets:
Cash
$
181.4
$
150.7
Accounts receivable, net of allowances of $16.7 and $15.5
333.3
304.0
Inventories
321.8
367.2
Assets available for sale
1.1
2.3
Prepaid expenses and other current assets
16.5
14.6
Deferred income taxes
2.3
13.6
Total current assets
856.4
852.4
Property, plant and equipment, net
59.4
63.0
Deferred income taxes
15.3
30.2
Goodwill and intangibles
6.1
11.1
Other assets
5.2
5.6
Total assets
$
942.4
$
962.3
LIABILITIES AND SHAREHOLDERS
’
EQUITY:
Current liabilities:
Accounts payable
$
418.9
$
405.3
Accrued expenses and other current liabilities
89.2
83.5
Current portion of long term debt
2.5
2.8
Total current liabilities
510.6
491.6
Long term debt
2.9
5.4
Other liabilities
22.7
19.0
Total liabilities
536.2
516.0
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 38,861,992 and 38,861,992
shares; outstanding 36,729,295 and 36,554,972 shares
0.4
0.4
Additional paid
-
in capital
183.3
183.0
Treasury stock at cost
—
2,132,697 and 2,307,020 shares
(26.4
)
(28.6
)
Retained earnings
246.7
290.5
Accumulated other comprehensive gain
2.2
1.0
Total shareholders’ equity
406.2
446.3
Total liabilities and shareholders’ equity
$
942.4
$
962.3