American Home Shield 2007 Annual Report Download - page 49
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Consolidated Statements of Financial Position
(In thousands, except per share data)
As of December 31, 2006 2005
Assets:
Current Assets:
Cash and cash equivalents $ 123,675 $ 114,508
Marketable securities 109,992 104,807
Receivables, less allowances of $26,759 and $17,702, respectively 407,409 309,567
Inventories 69,107 60,331
Prepaid expenses and other assets 25,868 23,948
Deferred customer acquisition costs 37,427 40,402
Deferred taxes 37,400 35,050
Assets of discontinued operations 2,343 135,100
Total Current Assets 813,221 823,713
Property and Equipment:
At cost 413,810 364,503
Less: accumulated depreciation (236,602) (202,676)
Net Property and Equipment 177,208 161,827
Other Assets:
Goodwill 1,648,258 1,548,070
Intangible assets, primarily trade names, net 249,217 230,343
Notes receivable 29,488 30,941
Long-term marketable securities 187,201 147,332
Other assets 12,870 9,304
Assets of discontinued operations — 77,340
Total Assets $ 3,117,463 $ 3,028,870
Liabilities and Shareholders' Equity:
Current Liabilities:
Accounts payable $ 114,533 $ 91,625
Accrued liabilities:
Payroll and related expenses 98,425 103,028
Self-insured claims and related expenses 89,398 93,047
Income taxes payable 33,726 30,730
Other 111,974 87,984
Deferred revenue 442,393 432,741
Liabilities of discontinued operations 7,644 97,294
Current portion of long-term debt 21,549 19,222
Total Current Liabilities 919,642 955,671
Long-Term Debt 668,873 638,928
Long-Term Liabilities:
Deferred taxes 168,000 113,300
Liabilities of discontinued operations 7,541 10,130
Other long-term obligations, primarily self-insured claims 164,549 156,201
Total Long-Term Liabilities 340,090 279,631
Minority Interest 100,000 100,000
Commitments and Contingencies (See Note)
Shareholders' Equity:
Common stock $0.01 par value, authorized 1,000,000 shares; issued
326,168 and 321,338, respectively 3,262 3,213
Additional paid-in capital 1,172,206 1,117,388
Retained earnings 319,459 282,993
Accumulated other comprehensive income 10,118 7,197
Restricted stock (unearned compensation) (1) — (14,438)
Treasury stock (416,187) (341,713)
Total Shareholders' Equity 1,088,858 1,054,640
Total Liabilities and Shareholders' Equity $ 3,117,463 $ 3,028,870
(1) Upon the adoption of SFAS 123(R) and effective January 1, 2006, the Company reclassified within Shareholders' Equity the
$14.4 million balance of "Restricted stock (unearned compensation)" to "Additional paid-in capital."
See accompanying Notes to the Consolidated Financial Statements