Sally Beauty Supply 2011 Annual Report Download - page 104

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SALLY BEAUTY HOLDINGS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
September 30, 2011 and 2010
(In thousands, except par value data)
2011 2010
Assets
Current assets:
Cash and cash equivalents ................................... $ 63,481 $ 59,494
Trade accounts receivable, less allowance for doubtful accounts of $2,086
and $2,756 at September 30, 2011 and 2010, respectively ............ 61,996 54,989
Accounts receivable, other ................................... 33,530 29,510
Inventory ................................................ 665,246 604,357
Prepaid expenses .......................................... 26,360 23,486
Deferred income tax assets, net ................................ 28,535 22,939
Total current assets ....................................... 879,148 794,775
Property and equipment, net of accumulated depreciation of $317,677 and
$291,186 at September 30, 2011 and 2010, respectively ............... 182,489 168,119
Goodwill .................................................. 505,873 478,240
Intangible assets, excluding goodwill, net of accumulated amortization of
$45,467 and $33,031 at September 30, 2011 and 2010, respectively ....... 129,658 109,352
Other assets ............................................... 31,432 38,926
Total assets ............................................. $1,728,600 $ 1,589,412
Liabilities and Stockholders’ Deficit
Current liabilities:
Current maturities of long-term debt ............................ $ 3,004 $ 3,045
Accounts payable .......................................... 262,114 224,931
Accrued liabilities ......................................... 185,509 167,496
Income taxes payable ....................................... 9,379 12,180
Total current liabilities .................................... 460,006 407,652
Long-term debt ............................................. 1,410,111 1,559,591
Other liabilities ............................................. 26,154 40,692
Deferred income tax liabilities, net ............................... 51,311 41,803
Total liabilities .......................................... 1,947,582 2,049,738
Stock options subject to redemption .............................. — 946
Stockholders’ deficit:
Common stock, $0.01 par value. Authorized 500,000 shares; 184,502 and
182,592 shares issued and 184,057 and 182,230 shares outstanding at
September 30, 2011 and 2010, respectively ...................... 1,841 1,822
Preferred stock, $0.01 par value, Authorized 50,000 shares, none issued . . . — —
Additional paid-in capital .................................... 681,256 650,315
Accumulated deficit ........................................ (879,305) (1,093,030)
Treasury stock, 15 shares at September 30, 2011 and 2010, respectively, at
cost .................................................. (103) (103)
Accumulated other comprehensive loss, net of tax .................. (22,671) (20,276)
Total stockholders’ deficit .................................. (218,982) (461,272)
Total liabilities and stockholders’ deficit ........................ $1,728,600 $ 1,589,412
The accompanying notes to consolidated financial statements are an integral part of these financial
statements.
F-4