Coach 2002 Annual Report Download - page 42
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Table of Contents
COACH, INC.
CONSOLIDATED BALANCE SHEETS
June 28, June 29,
2003 2002
(amounts in thousands
except share data)
ASSETS
Cash and cash equivalents $229,176 $93,962
Trade accounts receivable, less allowances of $6,095 and $4,176,
respectively 35,470 30,925
Inventories 143,807 136,404
Deferred income taxes 21,264 14,123
Prepaid expenses and other current assets 18,821 12,174
Total current assets 448,538 287,588
Property and equipment, net 118,547 90,589
Deferred income taxes 9,112 25,031
Goodwill 13,009 13,006
Indefinite life intangibles 9,389 9,389
Other noncurrent assets 19,057 14,968
Total assets $617,652 $440,571
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable $26,637 $25,819
Accrued liabilities 108,273 99,365
Revolving credit facility 26,471 34,169
Current portion of long-term debt 80 75
Total current liabilities 161,461 159,428
Long-term debt 3,535 3,615
Other liabilities 3,572 2,625
Minority interest 22,155 14,547
Total liabilities 190,723 180,215
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock: (authorized 25,000,000 shares; $0.01 par value)
none issued — —
Common stock: (authorized 250,000,000 shares; $0.01 par value)
issued and outstanding — 91,504,628 and 89,453,722 shares,
respectively 915 895
Capital in excess of par value 215,399 155,403
Retained earnings 217,622 105,509
Accumulated other comprehensive income (loss) (1,359) 215
Unearned compensation (5,648) (1,666)
Total stockholders’ equity 426,929 260,356
Total liabilities and stockholders’ equity $617,652 $440,571
See accompanying Notes to the Consolidated Financial Statements.
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