Under Armour 2006 Annual Report Download - page 50

Under Armour, Inc. and Subsidiaries
Consolidated Balance Sheets
(in thousands, except share data)
December 31,
2006 2005
Assets
Current assets
Cash and cash equivalents ................................................ $ 70,655 $ 62,977
Accounts receivable, net of allowance for doubtful accounts of $884 and $521 as of
December 31, 2006 and 2005, respectively ................................. 71,867 53,132
Inventories ............................................................. 81,031 53,607
Income taxes receivable .................................................. 4,310 —
Prepaid expenses and other current assets .................................... 8,944 5,252
Deferred income taxes ................................................... 8,145 6,822
Total current assets .................................................. 244,952 181,790
Property and equipment, net ................................................... 29,923 20,865
Intangible asset, net .......................................................... 7,875 —
Deferred income taxes ....................................................... 5,180 —
Other non-current assets ...................................................... 1,438 1,032
Total assets ........................................................ $289,368 $203,687
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable ....................................................... $ 42,718 $ 31,699
Accrued expenses ....................................................... 25,403 11,449
Income taxes payable .................................................... — 716
Current maturities of long term debt ......................................... 2,648 1,967
Current maturities of capital lease obligations ................................. 794 1,841
Total current liabilities ............................................... 71,563 47,672
Long term debt, net of current maturities ......................................... 1,893 2,868
Capital lease obligations, net of current maturities .................................. 922 1,715
Deferred income taxes ....................................................... — 330
Other long term liabilities ..................................................... 602 272
Total liabilities ..................................................... 74,980 52,857
Commitments and contingencies (see Note 8)
Stockholders’ equity and comprehensive loss
Class A Common Stock, $.0003 1/3 par value; 100,000,000 shares authorized as of
December 31, 2006 and 2005, 34,555,907 shares issued and outstanding as of
December 31, 2006; 31,223,351 shares issued and outstanding as of December 31,
2005 ............................................................... 12 10
Class B Convertible Common Stock, $.0003 1/3 par value; 16,200,000 shares
authorized as of December 31, 2006 and 2005, 13,250,000 shares issued and
outstanding as of December 31, 2006; 15,200,000 shares issued and outstanding as
of December 31, 2005 .................................................. 4 5
Additional paid-in capital ................................................. 148,562 124,803
Retained earnings ....................................................... 66,376 28,067
Unearned compensation .................................................. (463) (1,889)
Notes receivable from stockholders ......................................... — (163)
Accumulated other comprehensive loss ...................................... (103) (3)
Total stockholders’ equity ............................................. 214,388 150,830
Total liabilities and stockholders’ equity ................................. $289,368 $203,687
See accompanying notes.
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