Callaway 1997 Annual Report Download - page 12

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13
C
O N S O L I D AT E D
B
A LA N C E
S
H E E T
(in thousands, except share and per share data) December 31,
1 9 9 7 1 9 9 6
ASSETS
Current assets:
Cash and cash equivalents $26,204 $108,457
Accounts receivable, net 124,470 74,477
Inventories, net 97,094 98,333
Deferred taxes 23,810 25,948
Other current assets 10,208 4,298
Total current assets 281,786 311,513
Property, plant and equipment, net 142,503 91,346
Intangible assets, net 112,141 4,277
Other assets 25,284 21,292
$561,714 $428,428
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses $30,063 $14,996
Accrued employee compensation and benefits 14,262 16,195
Accrued warranty expense 28,059 27,303
Income taxes payable 2,558
Total current liabilities 72,384 61,052
Long-term liabilities (Note 7) 7,905 5,109
Commitments and contingencies (Note 9)
Shareholders’ equity:
Preferred Stock, $.01 par value, 3,000,000 shares authorized,
none issued and outstanding at December 31, 1997 and 1996
Common Stock, $.01 par value, 240,000,000 shares authorized,
74,251,664 and 72,855,222 issued and outstanding at
December 31, 1997 and 1996 (Note 4) 743 729
Paid-in capital 337,403 278,669
Unearned compensation (3,575) (3,105)
Retained earnings 298,169 238,349
Less: Grantor Stock Trust (5,300,000 shares at December 31, 1997
and 1996) at market (Note 4) (151,315) (152,375)
Total shareholders’ equity 481,425 362,267
$561,714 $428,428
See accompanying notes to consolidated financial statements.