Cracker Barrel 2008 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2008 Cracker Barrel 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 82

  • 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

54
C B R L G R O U P, I N C .
Consolidated Balance Sheet
(In thousands except share data)
August 1, August 3,
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents $ 11,978 $ 14,248
Property held for sale 3,248 4,676
Accounts receivable 13,484 11,759
Income taxes receivable 6,919 —
Inventories 155,954 144,416
Prepaid expenses and other current assets 10,981 12,629
Deferred income taxes 18,075 12,553
Total current assets 220,639 200,281
Property and Equipment:
Land 299,608 287,873
Buildings and improvements 711,030 687,041
Buildings under capital leases 3,289 3,289
Restaurant and other equipment 359,089 336,881
Leasehold improvements 183,729 165,472
Construction in progress 15,071 19,673
Total 1,571,816 1,500,229
Less: Accumulated depreciation and amortization of capital leases 526,576 481,247
Property and equipment – snet 1,045,240 1,018,982
Other assets 47,824 45,767
Total $1,313,703 $1,265,030
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable $ 93,112 $ 93,060
Current maturities of long-term debt and other long-term obligations 8,714 8,188
Taxes withheld and accrued 29,459 32,201
Income taxes payable — 18,066
Accrued employee compensation 46,185 48,570
Accrued employee benefits 34,241 34,926
Deferred revenues 22,618 21,162
Accrued interest expense 12,485 164
Other accrued expenses 17,905 18,332
Total current liabilities 264,719 274,669
Long-term debt 779,061 756,306
Interest rate swap liability 39,618 13,680
Other long-term obligations 83,224 53,819
Deferred income taxes 54,330 62,433
Commitments and Contingencies (Note 14)
Shareholders’ Equity:
Preferred stock – 100,000,000 shares of $.01 par value authorized; no shares issued — —
Common stock – 400,000,000 shares of $.01 par value authorized; 2008 – 22,325,341
shares issued and outstanding; 2007 – 23,674,175 shares issued and outstanding 223 237
Additional paid-in capital 731 —
Accumulated other comprehensive loss (27,653) (8,988)
Retained earnings 119,450 112,874
Total shareholders’ equity 92,751 104,123
Total $1,313,703 $1,265,030
See Notes to Consolidated Financial Statements.