WeightWatchers 2003 Annual Report Download - page 88
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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 .............. 4,222 — 4,222
Intercompany (payables) receivables .... (228,146) 218,449 9,697 — —
TOTAL CURRENT ASSETS ....... (187,532) 298,007 34,666 — 145,141
Investment in consolidated subsidiaries .... 556,952 — — (556,952) —
Property and equipment, net ........... 1,380 9,401 1,709 — 12,490
Notes and other receivables ............ 243 — — — 243
Franchise rights acquired .............. 3,385 280,660 770 284,815
Goodwill .......................... 23,384 — — — 23,384
Trademarks and other intangible assets .... 897 1,456 — — 2,353
Deferred income taxes ................ 37,174 91,832 (775) — 128,231
Deferred financing costs, net ........... 7,851 — — — 7,851
Other noncurrent assets ............... 628 776 438 — 1,842
TOTAL ASSETS ................ $444,362 $682,132 $36,808 $(556,952) $606,350
LIABILITIES AND SHAREHOLDERS’ EQUITY
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
Other accrued liabilities ............. 10,079 16,326 3,451 — 29,856
Income taxes payable ............... (25,544) 39,066 450 — 13,972
Deferred revenue .................. 100 14,118 1,214 — 15,432
TOTAL CURRENT LIABILITIES . . . 18,614 90,330 14,140 — 123,084
Long-term debt ................... 379,200 57,119 — — 436,319
Other .......................... — 325 74 — 399
TOTAL LIABILITIES ............ 397,814 147,774 14,214 — 559,802
Shareholders’ equity ................ 46,548 534,358 22,594 (556,952) 46,548
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
(DEFICIT) ................... $444,362 $682,132 $36,808 $(556,952) $606,350
F-34