Tecumseh Products 2012 Annual Report Download - page 37

36
TECUMSEH PRODUCTS COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31,
(in millions, except share data) 2012 2011
ASSETS
Current Assets:
Cash and cash equivalents ........................................................................................ $ 55.3 $ 49.6
Restricted cash and cash equivalents........................................................................ 3.7 10.8
Accounts receivable, trade, less allowance for doubtful accounts of $1.2 million
in 2012 and $1.1 million in 2011.............................................................................. 97.0 85.1
Inventories ................................................................................................................ 123.3 135.9
Deferred and recoverable income taxes.................................................................... 0.2 1.4
Recoverable non-income taxes ................................................................................. 20.7 28.8
Fair value of derivatives ........................................................................................... 0.7 0.2
Other current assets................................................................................................... 16.2 13.9
Total current assets................................................................................... 317.1 325.7
Property, plant, and equipment, net ................................................................................. 157.0 189.4
Deferred income taxes ..................................................................................................... 0.1 0.1
Recoverable non-income taxes ........................................................................................ 18.8 15.7
Deposits............................................................................................................................ 25.3 21.3
Other assets ...................................................................................................................... 9.6 11.5
Total assets............................................................................................... $ 527.9 $ 563.7
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:...........................................................................................................
Accounts payable, trade............................................................................................ $ 104.0 $ 97.2
Short-term borrowings.............................................................................................. 55.6 55.1
Accrued liabilities:....................................................................................................
Employee compensation.................................................................................... 24.6 20.2
Product warranty and self-insured risks ............................................................ 9.2 8.4
Payroll taxes ...................................................................................................... 10.9 12.0
Fair value of derivatives .................................................................................... 0.9 16.6
Other .................................................................................................................. 6.9 8.8
Total current liabilities............................................................................. 212.1 218.3
Long-term borrowings ..................................................................................................... 5.8 4.8
Other postretirement benefit liabilities ............................................................................ — 4.9
Product warranty and self-insured risks........................................................................... 2.4 3.5
Pension liabilities............................................................................................................. 37.1 37.5
Other ................................................................................................................................ 12.1 8.8
Total liabilities.......................................................................................... 269.5 277.8
Stockholders’ Equity
Class A common stock, $1 par value; authorized 75,000,000 shares; issued and
outstanding 13,401,938 shares in 2012 and 2011..................................................... 13.4 13.4
Class B common stock, $1 par value; authorized 25,000,000 shares; issued and
outstanding 5,077,746 shares in 2012 and 2011....................................................... 5.1 5.1
Paid in capital ........................................................................................................... 11.0 11.0
Retained earnings...................................................................................................... 303.6 281.0
Accumulated other comprehensive loss ................................................................... (74.7)(24.6)
Total stockholders’ equity........................................................................ 258.4 285.9
Total liabilities and stockholders’ equity................................................. $ 527.9 $ 563.7
The accompanying notes are an integral part of these Consolidated Financial Statements.