Garmin 2009 Annual Report Download - page 83

65
December26,December27,
2009 2008
Assets
Currentassets:
Cashandcashequivalents $1,091,581 $696,335
Marketablesecurities(Note3) 19,583 12,886
Accountsreceivable,lessallowancefordoubtfulaccountsof
$36,673in2009and$42,409in2008874,110 741,321
Inventories,net 309,938 425,312
Deferredincometaxes(Note6) 59,189 49,825
Prepaidexpensesandothercurrentassets 39,470 58,746
Totalcurrentassets 2,393,871 1,984,425
Propertyandequipment,net
Landandimprovements 92,088 88,272
Buildingandimprovements 268,011 244,804
Officefurnitureandequipment 84,544 72,665
Manufacturingequipment 115,179 113,956
Engineeringequipment 65,240 59,009
Vehicles 15,247 14,698
640,309 593,404
Accumulateddepreciation (198,971) (148,152)
441,338 445,252
Restrictedcash(Note4) 2,047 1,941
Marketablesecurities(Note3)746,464 262,009
Licenseagreements,net 15,400 16,013
Noncurrentdeferredincometax(Note6) 20,498 9,840
Otherintangibleassets 206,256 214,941
Totalassets $3,825,874 $2,934,421
LiabilitiesandStockholders'Equity
Currentliabilities:
Accountspayable $203,388 $160,094
Salariesandbenefitspayable 45,236 34,241
Accruedwarrantycosts 87,424 87,408
Accruedsalesprogramcosts 119,150 90,337
Deferredrevenue 27,910 680
Accruedroyaltycosts 103,195 30,941
Accruedadvertisingexpense 34,146 31,071
Otheraccruedexpenses 40,373 24,329
Incometaxespayable 22,846 20,075
Totalcurrentliabilities 683,668 479,176
Deferredincometaxes(Note6) 10,170 13,910
Non‐currentincometaxes 255,748 214,366
Non‐currentdeferredrevenue 38,574 ‐
Otherliabilities 1,267 1,115
Stockholders'equity:
Commonstock,$0.005parvalue,1,000,000,000sharesauthorized
(Notes9,10,and11) :
Issuedandoutstandingshares‐200,274,000in2009,and
200,363,000in2008 1,001 1,002
Additionalpaid‐incapital 32,221 ‐
Retainedearnings(Note2) 2,816,607 2,262,503
Accumulatedothercomprehensivegain/(loss) (13,382) (37,651)
Totalstockholders'equity 2,836,447 2,225,854
Totalliabilitiesandstockholders'equity $3,825,874 $2,934,421
Seeaccompanyingnotes.
GarminLtd.AndSubsidiaries
ConsolidatedBalanceSheets
(Inthousands,exceptshareinformation)