Circuit City 2005 Annual Report Download - page 54

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Accounts receivable, net
$153,724
$137,706
Inventories, net
176,227
192,774
Prepaid expenses and other current assets
24,888
22,096
Deferred income tax assets, net
8,812
9,594
Total current assets
399,908
398,427
Deferred income tax assets
-
noncurrent, net
18,268
18,645
TOTAL ASSETS
484,300
483,196
Short
-
term borrowings, including current portions of
long
-
term debt
(16,560)
(25,020)
Accounts payable
(161,864)
(165,761)
Accrued expense and other current liabilities
(60,756)
(59,639)
Total current liabilities
(239,180)
(250,420)
Long
-
term debt
(17,099)
(8,639)
Additional paid in capital
(180,530)
(180,640)
Accumulated other comprehensive income, net of tax
(4,093)
(3,920)
Retained earnings
(91,307)
(87,486)
Total shareholders' equity
(226,516)
(222,632)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
(484,300)
(483,196)
Years ended December 31,:
2004
2003
As previously
reported
As restated
As previously
reported
As restated
Net sales
$1,927,835
$1,928,147
$1,657,778
$1,655,736
Cost of sales
1,637,452
1,641,681
1,392,745
1,390,840
Gross profit
290,383
286,466
265,033
264,896
Income from operations
22,916
18,999
9,287
9,150
Income before income taxes
20,473
16,556
7,698
7,561
Provision for income taxes
7,923
6,368
4,352
4,354
Net income
12,550
10,188
3,346
3,207
Net income per common share, basic:
$.37
$.30
$.10
$.09
Net income per common share, diluted:
$.35
$.29
$.10
$.09
The Company also previously restated its segment disclosures for the years ended December 31, 2004 and 2003 –
see Note 12.
3.
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net consists of the following (in thousands):
2005
2004
Land and buildings
$
$
48,580
Furniture and fixtures, office, computer and other equipment and
71,653
software
Leasehold improvements
11,187
125,632
131,420
Less accumulated depreciation and amortization
65,857
Property, plant and equipment, net
$
$
65,563
Included in property, plant and equipment are assets under capital leases,