Ace Hardware 2005 Annual Report Download - page 26

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1
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
December 31, January 1,
2005 2005
(In thousands)
Assets
Cash and cash equivalents ................................................................................................................ $ 22,239 $ 14,930
Short-term investments .................................................................................................................... 27,668 28,192
Receivables, net ................................................................................................................................ 343,588 339,832
Inventories ........................................................................................................................................ 519,256 496,337
Other current assets .......................................................................................................................... 57,388 41,873
Assets held for sale ........................................................................................................................... 28,756 —)
Total current assets ................................................................................................................ 998,895 921,164
Property and equipment, net ............................................................................................................ 282,459 291,762
Other assets ....................................................................................................................................... 55,090 57,914
Total assets ...................................................................................................................................... $ 1,336,444 $ 1,270,840
Liabilities and member retailers’ equity
Current maturities of long-term debt ............................................................................................... $ 19,408 $ 13,796
Short-term borrowings ..................................................................................................................... 65,000 11,790
Accounts payable ............................................................................................................................. 414,315 419,882
Patronage dividends payable in cash ................................................................................................ 43,527 41,205
Patronage refund certificates payable .............................................................................................. 16,745 12,058
Accrued expenses ............................................................................................................................. 145,277 140,730
Liabilities of operation held for sale ......................................................................................... 9,838 —)
Total current liabilities .......................................................................................................... 714,110 639,461
Long-term debt ................................................................................................................................. 154,669 171,793
Patronage refund certificates payable ............................................................................................... 96,157 96,653
Other long-term liabilities ............................................................................................................... 56,598 59,963
Total liabilities ........................................................................................................................ 1,021,534 967,870
Member retailers’ equity
Class A stock of $1,000 par value ............................................................................................ 3,226 3,323
Class B stock of $1,000 par value ............................................................................................ 6,499 6,499
Class C stock of $100 par value ............................................................................................... 302,539 291,464
Class C stock of $100 par value, issuable to retailers for patronage dividends ....................... 32,561 27,717
Additional stock subscribed, net ............................................................................................... 210 72
Retained deficit ......................................................................................................................... (33,945) (30,742)
Contributed capital ................................................................................................................... 13,485 13,485
Accumulated other comprehensive income ............................................................................ 221 814
324,796 312,632
Less: Treasury stock, at cost ...................................................................................................... (9,886) (9,662)
Total member retailers’ equity ............................................................................................. 314,910 302,970
Total liabilities and member retailers’ equity ............................................................................ $ 1,336,444 $ 1,270,840
See accompanying notes to consolidated financial statements.
2005 ANNUAL REPORT A REVIEW OF ACE’S STRONG RESULTS