Circuit City 2007 Annual Report Download - page 40

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SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except for share data)
See notes to consolidated financial statements.
38
December 31,
2007
2006
ASSETS:
Current assets:
Cash and cash equivalents
$
128,021
$
86,964
Accounts receivable, net of allowances of $11,817 and $11,370
197,397
164,615
Inventories, net
250,222
233,136
Prepaid expenses and other current assets
20,589
26,919
Deferred income tax assets, net
9,360
7,727
Total current assets
605,589
519,361
Property, plant and equipment, net
48,480
48,586
Deferred income tax assets, net
18,652
14,041
Other assets
1,150
2,173
Total assets
$
673,871
$
584,161
LIABILITIES AND SHAREHOLDERS
’
EQUITY:
Current liabilities:
Short
-
term borrowings, including current portions of long
-
term debt
$
4,302
$
12,788
Accounts payable
245,264
201,486
Accrued expenses and other current liabilities
82,570
75,688
Total current liabilities
332,136
289,962
Long
-
term debt
254
483
Other liabilities
5,646
4,226
Total liabilities
338,036
294,671
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 38,332,990
and 38,331,990 shares; outstanding 36,092,067 and 35,341,377 shares
383
383
Additional paid
-
in capital
173,381
172,983
Common stock in treasury at cost
—
2,240,923 and 2,990,613 shares
(26,324
)
(35,131
)
Retained earnings
176,684
144,074
Accumulated other comprehensive income, net of tax
11,711
7,181
Total shareholders’ equity
335,835
289,490
Total liabilities and shareholders’ equity
$
673,871
$
584,161