Circuit City 2008 Annual Report Download - page 42

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Table of Contents
SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except for share data)
See notes to consolidated financial statements.
40
December 31,
2008
2007
ASSETS:
Current assets:
Cash and cash equivalents
$
115,967
$
128,021
Accounts receivable, net of allowances of $9,146 and $12,122
190,909
207,460
Inventories
282,217
250,222
Prepaid expenses and other current assets
12,667
13,902
Deferred income taxes
10,423
10,657
Total current assets
612,183
610,262
Property, plant and equipment, net
48,465
47,580
Deferred income taxes
11,452
18,652
Goodwill and intangibles
30,326
Other assets
837
1,150
Total assets
$
703,263
$
677,644
LIABILITIES AND SHAREHOLDERS
’
EQUITY:
Current liabilities:
Short
-
term borrowings, including current portion of capitalized lease obligations
$
773
$
4,302
Accounts payable
284,378
248,673
Accrued expenses and other current liabilities
75,603
81,637
Deferred income taxes
865
1,297
Total current liabilities
361,619
335,909
Capitalized lease obligations
1,411
254
Deferred income taxes
254
3
Other liabilities
6,024
5,643
Total liabilities
369,308
341,809
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 38,855,989 and
38,332,990 shares; outstanding 36,223,747 and 36,092,067 shares
389
383
Additional paid
-
in capital
179,241
173,381
Common stock in treasury at cost
–
2,632,242 and 2,240,923 shares
(31,158
)
(26,324
)
Retained earnings
192,401
176,684
Accumulated other comprehensive (loss) income, net of tax
(6,918
)
11,711
Total shareholders
’
equity
333,955
335,835
Total liabilities and shareholders
’
equity
$
703,263
$
677,644