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Form 10-K
http://www.sec.gov/Archives/edgar/data/949373/000119312509042707/d10k.htm[9/11/2014 10:10:56 AM]
47
Table of Contents
Our audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. Schedule II is presented for
purposes of additional analysis and is not a required part of the basic financial statements. This schedule has been subjected to the auditing
procedures applied in the audit of the basic financial statements and in our opinion, is fairly stated in all material respects in relation to the basic
financial statements taken as a whole.
/s/ GRANT THORNTON LLP
Denver, Colorado
March 2, 2009
48
Table of Contents
EINSTEIN NOAH RESTAURANT GROUP, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share information)
January 1,
2008
December 30,
2008
ASSETS
Current assets:
Cash and cash equivalents $ 9,436 $ 24,216
Restricted cash 1,203 526
Accounts receivable, net of allowance of $606 and $216, respectively 7,807 6,459
Inventories 5,313 5,290
Prepaid expenses and other current assets 5,281 4,774
Total current assets 29,040 41,265
Property, plant and equipment, net 47,714 59,747
Trademarks and other intangibles, net 63,831 63,831
Goodwill 4,981 4,981
Other assets 2,996 3,105
Total assets $ 148,562 $ 172,929
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable $ 5,072 $ 5,123
Accrued expenses and other current liabilities 19,279 22,410
Short-term debt and current portion of long-term debt 955 8,088
Current portion of obligations under capital leases 80 61
Mandatorily redeemable, Series Z Preferred Stock, $.001 par value, $1,000 per share liquidation value;
57,000 shares authorized; 57,000 shares issued and outstanding — 57,000
Total current liabilities 25,386 92,682
Senior notes and other long-term debt 88,875 79,787
Long-term obligations under capital leases 67 38
Other liabilities 10,841 14,073
Mandatorily redeemable, Series Z Preferred Stock, $.001 par value, $1,000 per share liquidation value;
57,000 shares authorized; 57,000 shares issued and outstanding 57,000 —
Total liabilities 182,169 186,580
Commitments and contingencies
Stockholders’ deficit:
Series A junior participating preferred stock, 700,000 shares authorized; no shares issued and outstanding
Common stock, $.001 par value; 25,000,000 shares authorized; 15,878,811 and 15,969,167 shares issued
and outstanding 16 16
Additional paid-in capital 262,830 264,179