WeightWatchers 2002 Annual Report Download - page 84

Download and view the complete annual report

Please find page 84 of the 2002 WeightWatchers 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 106

  • 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
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106

WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 28, 2002
(IN THOUSANDS)
Non-
Parent Guarantor Guarantor
Company Subsidiaries Subsidiaries Eliminations Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents ............. $34,694 $14,808 $8,028 $ —$ 57,530
Receivables, net .................... 3,467 13,972 1,667 —19,106
Inventories, net .................... —30,021 8,562 38,583
Prepaid expenses ................... 2,453 16,535 6,712 —25,700
Deferred income taxes ............... 4,519 —4,519
Intercompany (payables) receivables ...... (228,146) 218,449 9,697 ——
TOTAL CURRENT ASSETS ......... (187,532) 298,304 34,666 — 145,438
Investment in consolidated subsidiaries ...... 556,952 ——(556,952) —
Property and equipment, net ............. 1,380 9,401 1,709 —12,490
Notes and other receivables, noncurrent ..... 243 —— —243
Goodwill .......................... 26,769 280,660 770 —308,199
Trademarks and other intangible assets ...... 897 1,456 ——2,353
Deferred income taxes ................. 39,655 91,832 ——131,487
Deferred financing costs, net ............ 7,851 —— —7,851
Other noncurrent assets ................ 628 776 438 —1,842
TOTAL ASSETS ................. $446,843 $682,429 $37,583 $(556,952) $609,903
LIABILITIES AND SHAREHOLDERS’
EQUITY (DEFICIT)
CURRENT LIABILITIES
Portion of long-term debt due within one
year .......................... $17,632 $ 729 $ — $ — $ 18,361
Accounts payable ................... 1,217 14,679 4,351 —20,247
Salaries and wages .................. 7,005 4,939 4,674 —16,618
Accrued interest ................... 8,125 473 ——8,598
Foreign currency contract payable ....... 723 —— —723
Other accrued liabilities .............. 9,356 16,326 3,451 —29,133
Income taxes ...................... (25,544) 39,066 450 —13,972
Deferred income taxes ............... —297 ——297
Deferred revenue ................... 100 14,118 1,214 —15,432
TOTAL CURRENT LIABILITIES . . . . . 18,614 90,627 14,140 —123,381
Long-term debt ...................... 379,200 57,119 ——436,319
Deferred income taxes ................. 2,481 —775 —3,256
Other ............................ —325 74 —399
TOTAL LONG-TERM DEBT AND
OTHER LIABILITIES ........... 381,681 57,444 849 —439,974
Shareholders’ equity (deficit) ............ 46,548 534,358 22,594 (556,952) 46,548
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
(DEFICIT) .................... $446,843 $682,429 $37,583 $(556,952) $609,903
F-35