Under Armour 2007 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2007 Under Armour annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 92

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92

Under Armour, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share data)
December 31,
2007 2006
Assets
Current assets
Cash and cash equivalents ............................................... $ 40,588 $ 70,655
Accounts receivable, net of allowance for doubtful accounts of $1,112 and $884 as
of December 31, 2007 and 2006, respectively ............................. 93,515 71,867
Inventories ........................................................... 166,082 81,031
Income taxes receivable ................................................ 614 4,310
Prepaid expenses and other current assets .................................. 11,028 8,944
Deferred income taxes .................................................. 10,418 8,145
Total current assets ................................................ 322,245 244,952
Property and equipment, net ................................................. 52,332 29,923
Intangible assets, net ....................................................... 6,470 7,875
Deferred income taxes ...................................................... 8,173 5,180
Other non-current assets .................................................... 1,393 1,438
Total assets ...................................................... $390,613 $289,368
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable ..................................................... $ 55,012 $ 42,718
Accrued expenses ..................................................... 36,111 25,403
Current maturities of long term debt ....................................... 4,111 2,648
Current maturities of capital lease obligations ............................... 465 794
Total current liabilities ............................................. 95,699 71,563
Long term debt, net of current maturities ....................................... 9,298 1,893
Capital lease obligations, net of current maturities ................................ 458 922
Other long term liabilities ................................................... 4,673 602
Total liabilities ................................................... 110,128 74,980
Commitments and contingencies (see Note 7)
Stockholders’ equity
Class A Common Stock, $.0003 1/3 par value; 100,000,000 shares authorized as of
December 31, 2007 and 2006; 36,189,564 shares issued and outstanding as of
December 31, 2007, 34,555,907 shares issued and outstanding as of December 31,
2006 .............................................................. 12 12
Class B Convertible Common Stock, $.0003 1/3 par value; 12,500,000 shares
authorized, issued and outstanding as of December 31, 2007 and 13,250,000
shares authorized, issued and outstanding as of December 31, 2006 ............ 4 4
Additional paid-in capital ............................................... 162,362 148,562
Retained earnings ..................................................... 117,782 66,376
Unearned compensation ................................................ (182) (463)
Accumulated other comprehensive income (loss) ............................ 507 (103)
Total stockholders’ equity ........................................... 280,485 214,388
Total liabilities and stockholders’ equity ............................... $390,613 $289,368
See accompanying notes.
45