Pizza Hut 2003 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2003 Pizza Hut annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 84

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84

50.
Consolidated Balance Sheets
December 27, 2003 and December 28, 2002
(in millions) 2003 2002
ASSETS
Current Assets
Cash and cash equivalents $ 192 $ 130
Short-term investments, at cost 15 27
Accounts and notes receivable, less allowance: $28 in 2003 and $42 in 2002 169 168
Inventories 67 63
Assets classified as held for sale 96 111
Prepaid expenses and other current assets 102 110
Deferred income taxes 165 121
Total Current Assets 806 730
Property, plant and equipment, net 3,280 3,037
Goodwill 521 485
Intangible assets, net 357 364
Investments in unconsolidated affiliates 184 229
Other assets 472 555
Total Assets $ 5,620 $ 5,400
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable and other current liabilities $ 1,213 $ 1,166
Income taxes payable 238 208
Short-term borrowings 10 146
Total Current Liabilities 1,461 1,520
Long-term debt 2,056 2,299
Other liabilities and deferred credits 983 987
Total Liabilities 4,500 4,806
Shareholders’ Equity
Preferred stock, no par value, 250 shares authorized; no shares issued — —
Common stock, no par value, 750 shares authorized; 292 shares and
294 shares issued in 2003 and 2002, respectively 916 1,046
Retained earnings (accumulated deficit) 414 (203)
Accumulated other comprehensive income (loss) (210) (249)
Total Shareholders’ Equity 1,120 594
Total Liabilities and Shareholders’ Equity $ 5,620 $ 5,400
See accompanying Notes to Consolidated Financial Statements.