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EARTHLINK, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
The accompanying notes are an integral part of these consolidated financial statements.
64
December 31,
2004
2005
ASSETS
Current assets:
Cash and cash equivalents
$
218,910
$
173,294
Investments in marketable securities
253,572
207,845
Accounts receivable, net of allowance of $7,903 and $8,054 as of
December 31, 2004 and 2005, respectively
30,733
35,733
Due from HELIO
—
300
Prepaid expenses
15,630
14,225
Other current assets
10,846
13,121
Total current assets
529,691
444,518
Long
-
term investments in marketable securities
58,488
40,980
Investment in HELIO
—
67,143
Property and equipment, net
77,468
73,177
Purchased intangible assets, net
16,670
16,278
Goodwill
107,962
101,125
Other long-term assets
15,171
5,928
Total assets
$
805,450
$
749,149
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable
$
45,190
$
31,578
Accrued payroll and related expenses
35,966
37,741
Other accounts payable and accrued liabilities
102,714
84,139
Deferred revenue
62,861
58,359
Total current liabilities
246,731
211,817
Deferred revenue, net of current portion
3,296
716
Other long-term liabilities
7,816
14,752
Total liabilities
257,843
227,285
Commitments and contingencies (See Note 13)
Stockholders
’
equity:
Convertible preferred stock, $0.01 par value, 100,000 shares authorized,
0 shares issued and outstanding as of December 31, 2004 and 2005
—
—
Common stock, $0.01 par value, 300,000 shares authorized, 178,765 and
181,962 shares issued as of December 31, 2004 and 2005, respectively, and
148,720 and 131,390 shares outstanding as of December 31, 2004 and 2005,
respectively
1,788
1,820
Additional paid-in capital
1,971,208
1,997,906
Warrants to purchase common stock
1,223
259
Accumulated deficit
(1,192,762
)
(1,049,982
)
Treasury stock, at cost, 30,045 and 50,572 shares, respectively, as of
December 31, 2004 and 2005
(230,056
)
(422,619
)
Unrealized gains (losses) on investments
201
(653
)
Deferred compensation
(3,995
)
(4,867
)
Total stockholders’ equity
547,607
521,864
Total liabilities and stockholders’ equity
$
805,450
$
749,149