Sonic 2003 Annual Report Download - page 28

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Consolidated Balance Sheets
August 31,
2003 2002
(In thousands)
Assets
Current assets:
Cash and cash equivalents $ 13,210 $ 8,951
Accounts and notes receivable, net 16,990 13,755
Net investment in direct financing leases 943 802
Inventories 2,713 2,274
Deferred income taxes 1,210 481
Prepaid expenses 1,964 3,710
Total current assets 37,030 29,973
Notes receivable, net 9,650 8,529
Net investment in direct financing leases 6,823 7,137
Property, equipment and capital leases, net 345,551 305,286
Goodwill, net 78,962 46,826
Trademarks, trade names and other intangibles, net 6,481 6,755
Other assets, net 1,622 850
Total assets $ 486,119 $405,356
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 6,939 $ 6,799
Deposits from franchisees 2,060 1,015
Accrued liabilities 29,614 34,029
Long-term debt and obligations under capital leases due within one year 1,574 1,072
Total current liabilities 40,187 42,915
Obligations under capital leases due after one year 26,437 11,991
Long-term debt due after one year 139,505 109,250
Other noncurrent liabilities 7,863 5,807
Deferred income taxes 6,729 4,723
Commitments and contingencies (Notes 6, 7, 14, and 15)
Stockholders’ equity:
Preferred stock, par value $.01; 1,000,000 shares authorized; none outstanding ––
Common stock, par value $.01; 100,000,000 shares authorized; shares issued
49,180,560 in 2003 and 48,477,652 in 2002 492 485
Paid-in capital 95,546 86,563
Retained earnings 288,387 236,126
384,425 323,174
Treasury stock, at cost; 9,963,932 shares in 2003 and 8,736,701 shares in 2002 (119,027) (92,504)
Total stockholders’ equity 265,398 230,670
Total liabilities and stockholders’ equity $ 486,119 $405,356
See accompanying notes.