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O’REILLY AUTOMOTIVE 2005 ANNUAL REPORT
34
consolidated balance sheets
(In thousands, except per share data)
december 31, 2005 2004
assets
Current assets:
Cash and cash equivalents $ 31,384 $ 69,028
Accounts receivable, less allowance for doubtful
Accounts of $2,778 in 2005 and $3,417 in 2004 73,849 60,928
Amounts receivable from vendors, net 57,224 52,976
Inventory 726,390 625,320
Other current assets 21,808 5,225
Total current assets 910,655 813,477
Property and equipment, at cost:
Land 109,327 82,781
Buildings 368,996 278,752
Leasehold improvements 127,685 108,144
Furniture, fixtures and equipment 310,570 257,890
Vehicles 76,321 64,227
992,899 791,794
Accumulated depreciation and amortization 274,533 224,301
Net property and equipment 718,366 567,493
Notes receivable, less current portion 24,051 21,690
Other assets, net 60,827 29,697
Total assets $1,713,899 $ 1,432,357
liabilities and shareholders’ equity
Current liabilities:
Income taxes payable $ - $ 9,736
Accounts payable 292,667 240,548
Self insurance reserve 34,797 25,174
Accrued payroll 19,356 15,130
Accrued benefits and withholdings 14,997 10,620
Deferred income taxes 2,451 7,198
Other current liabilities 46,100 24,817
Current portion of long-term debt 75,313 592
Total current liabilities 485,681 333,815
Long-term debt, less current portion 25,461 100,322
Deferred income taxes 42,516 38,440
Other liabilities 14,472 11,963
Shareholders’ equity:
Preferred stock, $0.01 par value:
Authorized shares – 5,000,000
Issued and outstanding shares – none - -
Common stock, $0.01 par value:
Authorized shares – 245,000,000
Issued and outstanding shares – 112,389,002 in 2005 and 55,377,130 in 2004 1,124 554
Additional paid-in capital 360,325 326,650
Retained earnings 784,320 620,613
Total shareholders’ equity 1,145,769 947,817
Total liabilities and shareholders’ equity $1,713,899 $ 1,432,357
See accompanying notes.