GNC 2008 Annual Report Download - page 69

Table of Contents
GENERAL NUTRITION CENTERS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands, except share data)
Successor Predecessor
December 31, December 31,
2007 2006
Current assets:
Cash and cash equivalents $ 28,854 $ 24,080
Receivables, net (Note 3) 84,666 74,827
Inventories, net (Note 4) 334,149 319,382
Deferred tax assets, net (Note 5) 17,029 16,738
Other current assets (Note 6) 33,474 29,898
Total current assets 498,172 464,925
Long-term assets:
Goodwill (Note 7) 626,270 81,022
Brands (Note 7) 720,000 212,000
Other intangible assets, net (Note 7) 172,872 23,062
Property, plant and equipment, net (Note 8) 190,848 168,708
Deferred financing fees, net (Note 5) 26,377 12,269
Deferred tax assets, net (Note 5) — 675
Other long-term assets (Note 9) 5,093 6,124
Total long-term assets 1,741,460 503,860
Total assets $ 2,239,632 $ 968,785
Current liabilities:
Accounts payable, includes cash overdraft of $4,124 and $4,137, respectively (Note 10) $ 101,953 $ 104,121
Accrued payroll and related liabilities (Note 11) 27,477 30,988
Accrued income taxes (Note 5) 1,878 4,968
Accrued interest (Note 13) 18,110 7,531
Current portion, long-term debt (Note 13) 8,031 1,765
Other current liabilities (Note 12) 82,635 65,977
Total current liabilities 240,084 215,350
Long-term liabilities:
Long-term debt (Note 13) 1,078,950 429,590
Deferred tax liabilities, net (Note 5) 267,788 —
Other long-term liabilities (Note 14) 44,085 11,514
Total long-term liabilities 1,390,823 441,104
Total liabilities 1,630,907 656,454
Stockholder's equity:
Common stock, $0.01 par value, 1,000 shares authorized, 100 shares issued and outstanding (Note 18) — —
Paid-in-capital 590,593 261,899
Retained earnings 18,984 49,108
Accumulated other comprehensive (loss) income (852) 1,324
Total stockholder's equity 608,725 312,331
Total liabilities and stockholder's equity $ 2,239,632 $ 968,785
The accompanying notes are an integral part of the consolidated financial statements.
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