OfficeMax 2008 Annual Report Download - page 49
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OfficeMax Incorporated and Subsidiaries
Consolidated Balance Sheets
December 27, December 29,
2008 2007
(thousands, except share and
per-share amounts)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of debt ............................... $ 64,452 $ 49,024
Accounts payable:
Trade .......................................... 727,424 831,101
Related parties ................................... 28,373 30,184
Income tax payable .................................. 18,288 33,887
Accrued expenses and other current liabilities:
Compensation and benefits .......................... 112,041 125,983
Other .......................................... 231,339 285,110
Liabilities related to assets held for sale ................... 15,554 15,420
Total current liabilities ............................ 1,197,471 1,370,709
Long-term debt:
Long-term debt, less current portion ...................... 289,922 349,421
Timber notes securitized .............................. 1,470,000 1,470,000
Total long-term debt ............................. 1,759,922 1,819,421
Other long-term obligations:
Compensation and benefits ............................ 502,447 200,283
Deferred gain on sale of assets ......................... 179,757 179,757
Deferred income taxes ............................... — 154,362
Other long-term obligations ............................ 222,112 248,622
Total other long-term obligations .................... 904,316 783,024
Minority interest ................................... 21,871 32,042
Commitments and contingent liabilities
Shareholders’ equity:
Preferred stock—no par value; 10,000,000 shares authorized;
Series D ESOP: $.01 stated value; 945,899 and 1,110,867
shares outstanding ................................ 42,565 49,989
Common stock—$2.50 par value; 200,000,000 shares authorized;
75,977,152 and 75,397,094 shares outstanding ............ 189,943 188,481
Additional paid-in capital .............................. 925,328 922,414
Retained earnings (accumulated deficit) ................... (600,095) 1,095,950
Accumulated other comprehensive income (loss) ............ (267,738) 21,738
Total shareholders’ equity ......................... 290,003 2,278,572
Total liabilities and shareholders’ equity ................. $4,173,583 $6,283,768
See accompanying notes to consolidated financial statements
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