Callaway 2003 Annual Report Download - page 57
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54 CALLAWAY GOLF COMPANY
Note 5. Selected Financial Statement Information
December 31,
(In thousands)
2003 2002
Accounts receivable, net:
Trade accounts receivable $ 106,856 $ 69,341
Allowance for doubtful accounts (6,192) (5,474)
$ 100,664 $ 63,867
Inventories, net:
Raw materials $ 76,122 $ 63,953
Work-in-process 9,129 2,550
Finished goods 118,744 102,018
203,995 168,521
Reserve for excess and obsolescence (18,606) (16,761)
$ 185,389 $ 151,760
Property, plant and equipment, net:
Land $ 12,805 $ 10,533
Buildings and improvements 91,148 89,630
Machinery and equipment 129,270 114,635
Furniture, computers and equipment 90,571 79,891
Production molds 26,968 26,059
Construction-in-process 2,920 5,537
353,682 326,285
Accumulated depreciation (188,919) (158,945)
$ 164,763 $ 167,340
Accounts payable and accrued expenses:
Accounts payable $ 35,340 $ 18,544
Accrued expenses 24,627 26,486
Accrued sales programs 19,820 16,690
$ 79,787 $ 61,720
Accrued employee compensation and benefits:
Accrued payroll and taxes $ 16,577 $ 16,015
Accrued vacation and sick pay 8,126 6,172
Accrued commissions 841 981
$ 25,544 $ 23,168