American Home Shield 2004 Annual Report Download - page 39

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2004 annual report ServiceMaster 37
(In thousands, except per share data)
As of December 31, 2004 2003
Assets:
Current Assets:
Cash and cash equivalents $ 256,626 $ 228,161
Marketable securities 103,681 90,540
Receivables, less allowances of $25,183 and $26,220, respectively 369,026 333,834
Inventories 66,657 70,163
Prepaid expenses and other assets 27,456 33,408
Deferred customer acquisition costs 41,574 41,806
Deferred taxes and income taxes receivable 108,780 87,589
Assets of discontinued operations 4,952 5,273
Total Current Assets 978,752 890,774
Property and Equipment:
At cost 405,655 387,569
Less: accumulated depreciation (218,838) (208,054)
Net Property and Equipment 186,817 179,515
Other Assets:
Goodwill 1,568,044 1,516,206
Intangible assets, primarily trade names, net 220,780 216,453
Notes receivable 35,411 46,441
Long-term marketable securities 135,824 92,562
Other assets 14,574 14,475
Total Assets $ 3,140,202 $ 2,956,426
Liabilities and Shareholders’ Equity:
Current Liabilities:
Accounts payable $ 76,053 $ 86,963
Accrued liabilities:
Payroll and related expenses 113,366 89,427
Self-insured claims and related expenses 86,554 73,320
Income taxes payable 152,841 -
Other 111,092 100,454
Deferred revenue 443,238 419,915
Liabilities of discontinued operations 21,536 14,380
Current portion of long-term debt 23,247 33,781
Total Current Liabilities 1,027,927 818,240
Long-Term Debt 781,841 785,490
Long-Term Liabilities:
Deferred taxes 88,100 276,000
Liabilities of discontinued operations 9,057 34,396
Other long-term obligations 141,742 125,474
Total Long-Term Liabilities 238,899 435,870
Minority Interest 100,000 100,309
Commitments and Contingencies (See Note)
Shareholders’ Equity:
Common stock $0.01 par value, authorized 1,000,000 shares; issued 318,559 and 317,315, respectively 3,186 3,173
Additional paid-in capital 1,083,057 1,061,640
Retained earnings 212,116 6,365
Accumulated other comprehensive income 10,804 7, 9 3 2
Restricted stock (12,857) (4,368)
Treasury stock (304,771) (258,225)
Total Shareholders’ Equity 991,535 816,517
Total Liabilities and Shareholders’ Equity $ 3,140,202 $ 2,956,426
See accompanying Notes to the Consolidated Financial Statements.
consolidated statements of financial position