CDW 2012 Annual Report Download - page 53

The accompanying notes are an integral part of the consolidated financial statements.
49
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in millions, except share-related amounts)
December 31,
2012
2011
Assets
Current assets:
Cash and cash equivalents
$
37.9
$
99.9
Accounts receivable, net of allowance for doubtful accounts of $5.4 and $5.4, respectively
1,265.1
1,254.9
Merchandise inventory
314.6
321.7
Miscellaneous receivables
148.5
143.6
Deferred income taxes
14.1
24.6
Prepaid expenses and other
34.6
34.7
Total current assets
1,814.8
1,879.4
Property and equipment, net
142.7
154.3
Goodwill
2,209.3
2,208.4
Other intangible assets, net
1,478.5
1,636.0
Deferred financing costs, net
53.2
68.5
Other assets
1.6
3.0
Total assets
$
5,700.1
$
5,949.6
Liabilities and Shareholders’ Equity (Deficit)
Current liabilities:
Accounts payable-trade
$
518.6
$
517.8
Accounts payable-inventory financing
249.2
278.7
Current maturities of long-term debt
40.0
201.0
Deferred revenue
37.9
27.8
Accrued expenses:
Compensation
99.4
106.6
Interest
50.7
54.9
Sales taxes
22.6
23.1
Advertising
33.9
38.8
Other
96.0
92.6
Total current liabilities
1,148.3
1,341.3
Long-term liabilities:
Debt
3,731.0
3,865.0
Deferred income taxes
624.3
692.0
Accrued interest
8.0
13.0
Other liabilities
52.0
45.6
Total long-term liabilities
4,415.3
4,615.6
Commitments and contingencies
Shareholders’ equity (deficit):
Class A common shares, $0.01 par value, 100,000 shares authorized, issued, and outstanding —
—
Class B common shares, $0.01 par value, 1,900,000 shares authorized; 914,935 and 913,063 shares issued, respectively; 914,259 and
912,706 shares outstanding, respectively —
—
Paid-in capital
2,209.1
2,186.1
Accumulated deficit
(2,073.0
)
(2,191.3
)
Accumulated other comprehensive income (loss)
0.4
(2.1
)
Total shareholders’ equity (deficit)
136.5
(7.3
)
Total liabilities and shareholders’ equity (deficit)
$
5,700.1
$
5,949.6