WeightWatchers 2013 Annual Report Download - page 89
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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AT
(IN THOUSANDS)
December 28,
2013
December 29,
2012
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......................................... $ 174,557 $ 70,215
Receivables (net of allowances: December 28, 2013—$3,477 and
December 29, 2012—$3,447) ..................................... 36,248 37,363
Inventories ...................................................... 40,939 46,846
Deferred income taxes ............................................. 24,457 21,757
Prepaid expenses and other current assets .............................. 39,524 41,786
TOTAL CURRENT ASSETS ................................... 315,725 217,967
Property and equipment, net ............................................. 87,052 71,768
Franchise rights acquired ............................................... 836,835 783,695
Goodwill ............................................................ 79,294 62,726
Trademarks and other intangible assets, net ................................. 45,297 52,480
Deferred financing costs, net ............................................ 42,046 26,571
Other noncurrent assets ................................................ 2,682 3,400
TOTAL ASSETS ............................................. $1,408,931 $ 1,218,607
LIABILITIES AND TOTAL DEFICIT
CURRENT LIABILITIES
Portion of long-term debt due within one year ........................... $ 30,000 $ 114,695
Accounts payable ................................................. 45,496 49,349
Salaries and wages payable ......................................... 65,810 56,490
Accrued marketing and advertising ................................... 15,509 27,437
Accrued interest .................................................. 22,776 13,552
Other accrued liabilities ............................................ 89,899 100,171
Deferred revenue ................................................. 76,330 86,161
TOTAL CURRENT LIABILITIES ............................... 345,820 447,855
Long-term debt ....................................................... 2,358,000 2,291,669
Deferred income taxes ................................................. 164,064 129,431
Other ............................................................... 15,669 15,111
TOTAL LIABILITIES ......................................... 2,883,553 2,884,066
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, 55,562 shares at December 28, 2013 and 56,234 shares
at December 29, 2012 ............................................ (3,256,406) (3,281,831)
Retained earnings ................................................. 1,773,267 1,603,513
Accumulated other comprehensive income ............................. 8,517 12,859
TOTAL DEFICIT ............................................. (1,474,622) (1,665,459)
TOTAL LIABILITIES AND TOTAL DEFICIT ..................... $1,408,931 $ 1,218,607
The accompanying notes are an integral part of the consolidated financial statements.
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