WeightWatchers 2004 Annual Report Download - page 64
Download and view the complete annual report
Please find page 64 of the 2004 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.-
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
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
 |
 |
WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AT
(IN THOUSANDS)
January 1, January 3,
2005 2004
ASSETS
CURRENT ASSETS
Cash and cash equivalents ....................................... $ 35,156 $ 23,442
Receivables (net of allowances: January 1, 2005—$2,008
and January 3, 2004—$1,026) ................................... 21,778 18,545
Inventories, net .............................................. 32,929 39,110
Prepaid expenses ............................................. 31,636 29,724
Deferred income taxes ......................................... 4,317 3,970
TOTAL CURRENT ASSETS .................................. 125,816 114,791
Property and equipment, net ...................................... 17,480 15,747
Franchise rights acquired ......................................... 557,121 496,261
Goodwill ..................................................... 25,125 23,779
Trademarks and other intangible assets ............................... 5,721 2,454
Deferred income taxes ........................................... 77,964 110,631
Deferred financing costs, net ...................................... 3,240 4,583
Other noncurrent assets .......................................... 3,719 2,440
TOTAL ASSETS ........................................... $816,186 $770,686
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Portion of long-term debt due within one year ........................ $ 3,000 $ 15,554
Accounts payable ............................................. 20,760 22,287
Salaries and wages ............................................ 27,173 20,799
Other accrued liabilities ........................................ 35,079 34,379
Income taxes payable .......................................... 34,684 24,624
Deferred income taxes ......................................... 4,844 166
Deferred revenue ............................................. 27,082 16,527
TOTAL CURRENT LIABILITIES .............................. 152,622 134,336
Long-term debt ................................................ 466,125 454,320
Deferred income taxes ........................................... 715 832
Other ....................................................... 285 10
TOTAL LIABILITIES ....................................... 619,747 589,498
Commitments and contingencies (Note 15)
SHAREHOLDERS’ EQUITY
Common stock, $0 par 1,000,000 shares authorized; 111,988 shares issued and
outstanding ................................................ — —
Treasury stock, at cost, 9,575 shares at January 1, 2005 and 5,639 shares at
January 3, 2004 ............................................. (222,547) (48,421)
Deferred compensation ......................................... (233) (214)
Retained earnings ............................................. 413,425 223,557
Accumulated other comprehensive income ........................... 5,794 6,266
TOTAL SHAREHOLDERS’ EQUITY ........................... 196,439 181,188
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY ............ $816,186 $770,686
The accompanying notes are an integral part of the consolidated financial statements.
F-2