Toro 2013 Annual Report Download - page 50

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31 2013 2012
ASSETS
Cash and cash equivalents $ 182,993 $125,856
Receivables, net:
Customers (net of $3,035 and $3,733, respectively, for allowance for doubtful accounts) 147,475 144,241
Other 9,696 3,169
Total receivables, net 157,171 147,410
Inventories 240,089 251,117
Prepaid expenses and other current assets 33,258 24,437
Deferred income taxes 39,756 63,314
Total current assets 653,267 612,134
Property, plant, and equipment, net 185,096 180,523
Other assets 44,163 18,477
Goodwill 91,914 92,000
Other intangible assets, net 28,308 32,065
Total assets $1,002,748 $935,199
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $–$ 1,858
Accounts payable 136,158 124,806
Accrued liabilities:
Warranty 72,177 69,848
Advertising and marketing programs 64,191 56,264
Compensation and benefit costs 53,500 51,591
Insurance 18,184 19,227
Income taxes 1,938 1,165
Other 42,697 53,363
Total current liabilities 388,845 378,122
Long-term debt, less current portion 223,544 223,482
Deferred revenue 10,899 11,143
Deferred income taxes 5,969 2,280
Other long-term liabilities 14,753 7,770
Stockholders’ equity:
Preferred stock, par value $1.00, authorized 1,000,000 voting and 850,000 non-voting shares, none issued
and outstanding – –
Common stock, par value $1.00, authorized 175,000,000 shares as of October 31, 2013 and 100,000,000
shares as of October 31, 2012; issued and outstanding 56,788,723 shares as of October 31, 2013 and
58,266,482 shares as of October 31, 2012 56,789 58,266
Retained earnings 314,519 264,110
Accumulated other comprehensive loss (12,570) (9,974)
Total stockholders’ equity 358,738 312,402
Total liabilities and stockholders’ equity $1,002,748 $935,199
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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