Harman Kardon 2008 Annual Report Download - page 60

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42
Consolidated Balance Sheets
Harman International Industries, Incorporated and Subsidiaries
($000s omitted except share and per share amounts) June 30,
2008 2007
Assets
Current assets
Cash and cash equivalents $ 223,109 106,141
Receivables, net 574,195 486,557
Inventories, net 390,638 453,156
Other current assets 251,139 187,299
Total current assets 1,439,081 1,233,153
Property, plant and equipment, net 640,042 591,976
Goodwill 436,447 403,749
Other assets 311,355 279,990
Total assets $ 2,826,925 2,508,868
Liabilities and Shareholders’ Equity
Current liabilities
Short-term borrowings $ --- 1,838
Current portion of long-term debt 639 17,029
Accounts payable 343,780 356,763
Accrued liabilities 413,645 302,016
Accrued warranties 126,977 48,148
Income taxes payable 21,911 90,187
Total current liabilities 906,952 815,981
Borrowings under revolving credit facility 25,000 55,000
Convertible senior notes 400,000 ---
Other senior debt 2,313 2,661
Minority interest 34 878
Other non-current liabilities 152,780 140,307
Total liabilities 1,487,079 1,014,827
Shareholders’ equity
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 83,940,927 shares in 2008 and 83,436,983 in 2007 839 834
Additional paid-in capital 620,651 595,853
Accumulated other comprehensive income (loss):
Unrealized loss on hedging derivatives (1,328) (510)
Pension benefits (11,947) (15,778)
Cumulative foreign currency translation adjustment 204,806 98,479
Retained earnings 1,566,720 1,454,771
Less common stock held in treasury (25,422,861 shares in 2008
and 18,198,082 shares in 2007) (1,039,895) (639,608)
Total shareholders’ equity 1,339,846 1,494,041
Total liabilities and shareholders’ equity $ 2,826,925 2,508,868
See accompanying notes to consolidated financial statements.