IHOP 2009 Annual Report Download - page 95
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DineEquity, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share amounts)
December 31,
2009 2008
Assets
Current assets
Cash and cash equivalents ......................................... $ 82,314 $ 114,443
Restricted cash ................................................. 72,690 83,355
Receivables, net ................................................ 104,690 117,930
Inventories .................................................... 12,236 10,959
Prepaid income taxes ............................................. 7,702 15,734
Prepaid gift cards ............................................... 19,878 15,375
Prepaid expenses ................................................ 13,425 1,692
Deferred income taxes ............................................ 15,444 27,504
Assets held for sale .............................................. 8,765 11,861
Total current assets ............................................. 337,144 398,853
Non-current restricted cash .......................................... 48,173 53,395
Restricted assets related to captive insurance subsidiary ....................... 4,344 5,849
Long-term receivables .............................................. 259,775 277,106
Property and equipment, net ......................................... 771,372 824,482
Goodwill ....................................................... 697,470 697,470
Other intangible assets, net .......................................... 849,552 956,036
Other assets, net ................................................. 133,038 148,026
Total assets .................................................. $3,100,868 $3,361,217
Liabilities and Stockholders’ Equity
Current liabilities
Current maturities of long-term debt .................................. $ 25,200 $ 15,000
Accounts payable ............................................... 31,729 48,983
Accrued employee compensation and benefits ............................ 37,397 44,299
Gift card liability ................................................ 105,465 95,532
Accrued financing costs ........................................... — 20,071
Other accrued expenses ........................................... 54,549 55,249
Accrued interest payable .......................................... 3,627 3,580
Total current liabilities .......................................... 257,967 282,714
Long-term debt, less current maturities .................................. 1,637,198 1,853,367
Financing obligations, less current maturities .............................. 309,415 318,651
Capital lease obligations, less current maturities ............................ 152,758 161,310
Deferred income taxes ............................................. 369,127 395,448
Other liabilities .................................................. 117,449 119,910
Total liabilities ................................................ 2,843,914 3,131,400
Commitments and contingencies
Preferred stock, Series A, $1 par value, 220,000 shares authorized; 190,000 shares issued
and outstanding ................................................ 187,050 187,050
Stockholders’ equity
Convertible preferred stock, Series B, at accreted value, 10,000,000 shares authorized;
35,000 shares issued and outstanding .................................. 39,623 37,332
Common stock, $0.01 par value, 40,000,000 shares authorized; 2009: 23,780,015 shares
issued and 17,564,449 shares outstanding; 2008: 23,696,950 shares issued and
17,466,355 shares outstanding ....................................... 238 237
Additional paid-in-capital ........................................... 171,207 165,315
Retained earnings ................................................. 155,397 145,810
Accumulated other comprehensive loss .................................. (20,811) (29,408)
Treasury stock, at cost (2009: 6,215,566 shares; 2008: 6,230,595 shares) ............. (275,750) (276,519)
Total stockholders’ equity .......................................... 69,904 42,767
Total liabilities and stockholders’ equity ................................ $3,100,868 $3,361,217
See the accompanying notes to the consolidated financial statements.
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