Adobe 2006 Annual Report Download - page 69

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ADOBE SYSTEMS INCORPORATED
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
December 1, December 2,
2006 2005
ASSETS
Current assets:
Cash and cash equivalents .............................................................. $ 772,500 $ 420,818
Short-term investments................................................................... 1,508,379 1,280,016
Trade receivables, net of allowances for doubtful accounts of
$6,798 and $5,376, respectively ................................................. 356,815 173,245
Other receivables ............................................................................ 51,851 31,504
Deferred income taxes .................................................................... 155,613 58,710
Prepaid expenses and other assets................................................... 39,311 44,285
Total current assets.................................................................... 2,884,469 2,008,578
Property and equipment, net .............................................................. 227,197 103,549
Goodwill ............................................................................................ 2,149,494 118,683
Purchased and other intangibles, net .................................................. 506,405 16,477
Investment in lease receivable ........................................................... 126,800 126,800
Other assets........................................................................................ 68,183 66,228
$ 5,962,548 $ 2,440,315
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade and other payables............................................................... $ 55,031 $ 41,042
Accrued expenses .......................................................................... 303,550 226,915
Accrued restructuring .................................................................... 10,088 70
Income taxes payable..................................................................... 178,368 154,529
Deferred revenue ........................................................................... 130,310 57,839
Total current liabilities .............................................................. 677,347 480,395
Long-term liabilities:
Deferred revenue ........................................................................... 32,644 9,731
Deferred income taxes ................................................................... 70,715 78,800
Accrued restructuring .................................................................... 21,984 ―
Other liabilities.............................................................................. 7,982 7,063
Total liabilities .......................................................................... 810,672 575,989
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value; 2,000 shares authorized; none
issued ......................................................................................... ― ―
Common stock, $0.0001 par value; 900,000 shares authorized;
600,834 and 591,528 shares issued and outstanding, respectively 61 60
Additional paid-in-capital .............................................................. 2,451,610 1,350,692
Retained earnings .......................................................................... 3,317,785 2,838,560
Accumulated other comprehensive income (loss) ......................... 6,344 (914)
Treasury stock, at cost (13,608 and 102,799 shares, respectively),
net of re-issuances...................................................................... (623,924) (2,324,072)
Total stockholders’ equity ......................................................... 5,151,876 1,864,326
$ 5
,
962
,
548 $ 2
,
440
,
315
See accompanying Notes to Consolidated Financial Statements.