WeightWatchers 2012 Annual Report Download - page 85

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AT
(IN THOUSANDS)
December 29,
2012
December 31,
2011
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......................................... $ 70,215 $ 53,199
Receivables (net of allowances: December 29, 2012—$3,447 and
December 31, 2011—$5,315) ..................................... 37,363 41,445
Inventories, net ................................................... 46,846 53,437
Prepaid income taxes .............................................. 6,087 3,071
Deferred income taxes ............................................. 21,757 24,612
Prepaid expenses and other current assets .............................. 35,699 38,762
TOTAL CURRENT ASSETS ................................... 217,967 214,526
Property and equipment, net ............................................. 71,768 41,072
Franchise rights acquired ............................................... 787,007 764,026
Goodwill ............................................................ 59,414 50,012
Trademarks and other intangible assets, net ................................. 52,480 37,461
Deferred financing costs, net ............................................ 26,571 8,720
Other noncurrent assets ................................................ 3,400 5,811
TOTAL ASSETS ............................................. $1,218,607 $ 1,121,628
LIABILITIES AND TOTAL DEFICIT
CURRENT LIABILITIES
Portion of long-term debt due within one year ........................... $ 114,695 $ 124,933
Accounts payable ................................................. 49,349 60,810
Salaries and wages payable ......................................... 56,490 62,705
UK self-employment liability ........................................ 7,272 43,671
Derivative payable ................................................ 13,871 24,613
Accrued marketing and advertising ................................... 27,437 15,499
Other accrued liabilities ............................................ 92,580 78,218
Deferred revenue ................................................. 86,161 83,758
TOTAL CURRENT LIABILITIES ............................... 447,855 494,207
Long-term debt ....................................................... 2,291,669 926,868
Deferred income taxes ................................................. 129,431 100,723
Other ............................................................... 15,111 9,596
TOTAL LIABILITIES ......................................... 2,884,066 1,531,394
Commitments and contingencies (Note 13)
TOTAL DEFICIT
Common stock, $0 par value; 1,000,000 shares authorized; 111,988 shares
issued ........................................................ 0 0
Treasury stock, at cost, 56,234 shares at December 29, 2012 and 38,390 shares
at December 31, 2011 ............................................ (3,281,831) (1,793,983)
Retained earnings ................................................. 1,603,513 1,378,616
Accumulated other comprehensive income ............................. 12,859 5,601
TOTAL DEFICIT ............................................. (1,665,459) (409,766)
TOTAL LIABILITIES AND TOTAL DEFICIT ..................... $1,218,607 $ 1,121,628
The accompanying notes are an integral part of the consolidated financial statements.
F-3