True Value 2008 Annual Report Download - page 33

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12 :: T RUE VALUE COMPA NY
consolidated balance sheet
January 3, December 29,
2009 2007
ASSETS
Current assets:
Cash and cash equivalents $ 6,026 $ 5,176
Accounts and notes receivable, net of allowance for doubtful accounts
of $2,434 and $1,094 202,055 222,618
Inventories, net of valuation reserves of $17,652 and $14,618 303,802 313,934
Prepaid expenses 9,052 10,301
Total current assets 520,935 552,029
Long-term assets:
Properties, net 69,002 70,313
Goodwill 91,474 91,474
Other assets 7,799 6,344
Total assets $ 689,210 $ 720,160
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accounts payable $ 192,364 $ 239,023
Drafts payable 39,700 46,211
Accrued expenses 55,398 65,508
Current maturities of long-term debt, notes and capital lease obligations 29,327 28,257
Patronage dividend payable in cash 17,509 17,392
Total current liabilities 334,298 396,391
Long-term liabilities and deferred credits:
Long-term debt including notes and capital lease obligations, less current maturities 111,884 98,876
Deferred gain on sale leaseback 36,117 38,895
Pension 24,627 8,492
Other long-term liabilities 23,335 26,229
Redeemable nonqualified Class B nonvoting common stock, $100 par value;
177,602 and 186,156 shares issued and fully paid 17,760 18,616
Total long-term liabilities and deferred credits 213,723 191,108
Total liabilities and deferred credits 548,021 587,499
Members’ equity:
Redeemable Class A voting common stock, $100 par value; 750,000 shares authorized;
284,520 and 292,260 shares issued and fully paid; 0 and 840 shares issued
(net of subscriptions receivable of $0 and $8) 28,452 29,302
Redeemable qualified Class B nonvoting common stock and paid-in capital,
$100 par value; 4,000,000 shares authorized; 1,793,984 and 1,648,661 shares
issued and fully paid 180,697 166,165
Loss allocation (3,834) (4,778)
Deferred patronage (21,307) (22,055)
Accumulated deficit (15,899) (24,334)
Accumulated other comprehensive loss (26,920) (11,639)
Total members’ equity 141,189 132,661
Total liabilities and members’ equity $ 689,210 $ 720,160
The accompanying notes are an integral part of the Consolidated Financial Statements.
($ in thousands, except per share information)