Circuit City 1999 Annual Report Download - page 19

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See notes to consolidated financial statements.
SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 1999 AND 1998
(IN THOUSANDS, EXCEPT FOR SHARE DATA)
1999 1998
---- ----
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 17,470 $ 42,029
Short-term investments 5,050
Accounts receivable, net 200,082 154,516
Inventories 173,966 129,966
Prepaid expenses and other current assets 28,890 21,517
Deferred income tax benefit 6,369 6,865
--------- ----------
Total current assets 426,777 359,943
PROPERTY, PLANT AND EQUIPMENT, net 46,839 33,988
GOODWILL, net 73,684 56,612
DEFERRED INCOME TAX BENEFIT 2,340 3,084
OTHER ASSETS 322 812
--------- ----------
TOTAL $ 549,962 $ 454,439
========= ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
------------------------------------
CURRENT LIABILITIES:
Notes payable to banks $ 9,000
Current portion of long-term debt 634 $ 2,681
Accounts payable 124,449 114,783
Accrued expenses and other current liabilities 105,803 47,853
---------- ----------
Total current liabilities 239,886 165,317
--------- ----------
LONG-TERM DEBT 1,740 2,493
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COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, par value $.01 per share, authorized
25 million shares, issued none
Common stock, par value $.01 per share, authorized 150 million shares, issued
38,231,990; outstanding 35,237,790 (1999) and 36,128,090 (1998) 382 382
Additional paid-in capital 176,743 176,743
Accumulated other comprehensive income (4,598) (348)
Retained earnings 174,468 138,456
--------- ----------
346,995 315,233
--------- ----------
Less: common stock in treasury at cost - 2,994,200 (1999) and
2,103,900 (1998) shares 38,659 28,604
--------- ----------
Total shareholders' equity 308,336 286,629
--------- ----------
TOTAL $ 549,962 $ 454,439
========= ==========