WeightWatchers 2015 Annual Report Download - page 78

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS AT
(IN THOUSANDS)
January 2,
2016
January 3,
2015
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......................................... $ 241,526 $ 301,212
Receivables (net of allowances: January 2, 2016—$2,226 and January 3,
2015—$3,287) ................................................. 29,281 31,960
Inventories ...................................................... 27,838 32,382
Deferred income taxes ............................................. 7,516 23,744
Prepaid expenses and other current assets .............................. 52,812 36,367
TOTAL CURRENT ASSETS ................................... 358,973 425,665
Property and equipment, net ............................................. 58,186 74,650
Franchise rights acquired ............................................... 747,326 760,883
Goodwill ............................................................ 159,331 168,279
Trademarks and other intangible assets, net ................................. 66,339 68,115
Deferred financing costs, net ............................................ 25,209 32,742
Other noncurrent assets ................................................ 6,720 4,306
TOTAL ASSETS ............................................. $1,422,084 $ 1,534,640
LIABILITIES AND TOTAL DEFICIT
CURRENT LIABILITIES
Portion of long-term debt due within one year ........................... $ 213,323 $ 80,728
Accounts payable ................................................. 38,225 52,411
Salaries and wages payable ......................................... 47,042 64,785
Accrued marketing and advertising ................................... 21,554 20,540
Accrued interest .................................................. 20,739 22,965
Other accrued liabilities ............................................ 56,477 81,653
Derivative payable ................................................ 44,170 42,423
Deferred revenue ................................................. 61,597 66,190
TOTAL CURRENT LIABILITIES ............................... 503,127 431,695
Long-term debt ....................................................... 2,021,250 2,277,272
Deferred income taxes ................................................. 159,539 176,278
Other ............................................................... 23,876 16,883
TOTAL LIABILITIES ......................................... 2,707,792 2,902,128
Commitments and contingencies (Note 14)
Redeemable noncontrolling interest ....................................... 4,450 5,553
TOTAL DEFICIT
Common stock, $0 par value; 1,000,000 shares authorized; 118,855 shares
issued at January 2, 2016 and 112,195 shares issued at January 3, 2015 ..... 0 0
Treasury stock, at cost, 55,301 shares at January 2, 2016 and 55,485 shares at
January 3, 2015 ................................................. (3,247,406) (3,253,597)
Retained earnings ................................................. 1,994,513 1,900,506
Accumulated other comprehensive loss ................................ (37,265) (19,950)
TOTAL DEFICIT ............................................. (1,290,158) (1,373,041)
TOTAL LIABILITIES AND TOTAL DEFICIT ..................... $1,422,084 $ 1,534,640
The accompanying notes are an integral part of the consolidated financial statements.
F-3