Petsmart 2007 Annual Report Download - page 53

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PetSmart, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except par value)
February 3,
2008
January 28,
2007
ASSETS
Cash and cash equivalents .......................................... $ 58,322 $ 148,799
Short-term investments ............................................. — 19,200
Restricted cash and restricted short-term investments ....................... — 60,700
Receivables, net .................................................. 49,341 36,541
Merchandise inventories ............................................ 501,212 487,400
Deferred income taxes ............................................. 46,765 39,580
Prepaid expenses and other current assets ............................... 73,231 51,049
Total current assets .............................................. 728,871 843,269
Property and equipment, net ......................................... 1,230,770 1,032,421
Equity investment in affiliate ........................................ 23,346 38,065
Deferred income taxes ............................................. 108,544 97,648
Goodwill ....................................................... 44,333 14,422
Intangible assets, net of accumulated amortization of $1,935 and $1,606 ........ 1,457 1,156
Other noncurrent assets ............................................ 29,936 26,496
Total assets.................................................... $2,167,257 $2,053,477
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and bank overdraft. ................................. $ 172,352 $ 179,638
Accrued payroll, bonus and employee benefits ........................... 132,768 120,801
Accrued occupancy expenses and deferred rents .......................... 46,955 44,972
Short-term debt .................................................. 30,000 —
Current maturities of capital lease obligations ............................ 24,982 17,667
Other current liabilities ............................................. 148,832 155,304
Total current liabilities ........................................... 555,889 518,382
Capital lease obligations ............................................ 508,765 431,334
Deferred rents ................................................... 88,954 85,644
Other noncurrent liabilities .......................................... 27,052 17,223
Total liabilities ................................................. 1,180,660 1,052,583
Commitments and contingencies
Stockholders’ equity:
Preferred stock; $.0001 par value; 10,000 shares authorized, none issued and
outstanding .................................................. — —
Common stock; $.0001 par value; 625,000 shares authorized, 158,104 and
155,782 shares issued .......................................... 16 16
Additional paid-in capital ......................................... 1,079,190 1,024,630
Retained earnings ............................................... 758,674 516,961
Accumulated other comprehensive income............................. 5,585 1,128
Less: treasury stock, at cost, 30,066 and 20,313 shares.................... (856,868) (541,841)
Total stockholders’ equity ....................................... 986,597 1,000,894
Total liabilities and stockholders’ equity............................. $2,167,257 $2,053,477
The accompanying notes are an integral part of these consolidated financial statements.
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