Harman Kardon 2007 Annual Report Download - page 53

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40
Consolidated Balance Sheets
Harman International Industries, Incorporated and Subsidiaries
($000s omitted except share amounts)
June 30,
2007
2006
Assets
Current assets
Cash and cash equivalents $ 106,141
291,758
Receivables (less allowance for doubtful accounts of $6,040 in 2007
and $8,738 in 2006) 486,557
444,474
Inventories (note 2) 453,156
344,957
Other current assets 187,299
186,778
Total current assets 1,233,153
1,267,967
Property, plant and equipment, net (notes 3, 6 and 7) 591,976
521,935
Goodwill (note 4) 403,749
381,219
Other assets 279,990
204,631
Total assets $ 2,508,868
2,375,752
Liabilities and Shareholders’ Equity
Current liabilities
Short-term borrowings (notes 5) $ 1,838
1,751
Current portion of long-term debt (note 6) 17,029
16,337
Accounts payable 356,763
320,327
Accrued liabilities 350,164
432,988
Income taxes payable (note 10) 90,187
116,493
Total current liabilities 815,981
887,896
Borrowings under revolving credit facility (note 6) 55,000
159,900
Senior notes (note 6) 2,661
19,566
Minority interest (note 17) 878
2,716
Other non-current liabilities 140,307
77,510
Shareholders’ equity (note 11)
Preferred stock, $.01 par value. Authorized 5,000,000 shares;
none issued and outstanding ---
---
Common stock, $.01 par value. Authorized 200,000,000 shares;
issued 83,436,983 shares in 2007 and 82,754,909 in 2006 834
827
Additional paid-in capital 595,853
544,871
Accumulated other comprehensive income (loss):
Unrealized loss on hedging derivatives (510)
(3,267)
Pension benefits (15,778)
(11,789)
Cumulative foreign currency translation adjustment 98,479
64,280
Retained earnings 1,454,771
1,144,070
Less common stock held in treasury (18,198,082 shares in 2007
and 16,690,182 shares in 2006) (639,608)
(510,828)
Total shareholders’ equity 1,494,041
1,228,164
Commitments and contingencies (notes 7 and 14)
Total liabilities and shareholders’ equity $ 2,508,868
2,375,752
See accompanying notes to consolidated financial statements.