Hormel Foods 2014 Annual Report Download - page 36

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34
Consolidated Statements of Financial Position
October 26, October 27,
(in thousands, except share and per share amounts) 2014 2013
Assets
Current Assets
Cash and cash equivalents $ 334,174 $ 434,014
Accounts receivable (net of allowance for doubtful accounts
of $4,050 at October 26, 2014, and $4,000 at October 27, 2013) 609,526 551,500
Inventories 1,054,552 967,977
Income taxes receivable 25,678 –
Deferred income taxes 86,853 73,543
Prepaid expenses 15,250 13,000
Other current assets 6,738 7,379
Total Current Assets 2,132,771 2,047,413
Deferred Income Taxes – 25,086
Goodwill 1,226,406 934,472
Other Intangibles 554,890 378,093
Pension Assets 130,284 162,535
Investments in and Receivables from Affiliates 264,451 270,609
Other Assets 145,050 142,339
Property, Plant and Equipment
Land 61,809 58,506
Buildings 803,722 784,133
Equipment 1,597,044 1,532,527
Construction in progress 119,657 85,696
2,582,232 2,460,862
Less allowance for depreciation (1,580,465) (1,505,529)
1,001,767 955,333
Total Assets $ 5,455,619 $ 4,915,880
Liabilities and Shareholders’ Investment
Current Liabilities
Accounts payable $ 484,042 $ 387,284
Accrued expenses 76,836 20,965
Accrued workers compensation 35,406 38,217
Accrued marketing expenses 89,561 91,332
Employee related expenses 209,874 192,063
Taxes payable 5,507 8,637
Interest and dividends payable 53,466 45,511
Total Current Liabilities 954,692 784,009
Long-Term Debt — less current maturities 250,000 250,000
Pension and Post-Retirement Benefits 502,693 481,230
Other Long-Term Liabilities 112,176 84,062
Deferred Income Taxes 24,002 –
Shareholders’ Investment
Preferred stock, par value $0.01 a share — authorized 160,000,000 shares;
issued — none
Common stock, nonvoting, par value $0.01 a share — authorized 400,000,000 shares;
issued — none
Common stock, par value $0.0293 a share — authorized 800,000,000 shares;
issued 263,613,201 shares October 26, 2014
issued 263,658,296 shares October 27, 2013 7,724 7,725
Accumulated other comprehensive loss (207,700) (149,214)
Retained earnings 3,805,654 3,452,529
Hormel Foods Corporation Shareholders’ Investment 3,605,678 3,311,040
Noncontrolling Interest 6,378 5,539
Total Shareholders’ Investment 3,612,056 3,316,579
Total Liabilities And Shareholders’ Investment $ 5,455,619 $ 4,915,880
See Notes to Consolidated Financial Statements.