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33
SYSTEMAX INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except for share data)
December 31,
2010 2009
ASSETS:
Current assets:
Cash $ 92,077 $
58,309
Accounts receivable, net of allowances of $17,881 and $22,532 276,344
241,860
Inventories 370,375
365,725
Prepaid expenses and other current assets 19,308
20,066
Deferred income taxes 7,133
6,626
Total current assets 765,237
692,586
Property, plant and equipment, net 73,765
65,598
Deferred income taxes 2,313
8,564
Goodwill and intangibles 49,473
48,127
Other assets 3,312
2,026
Total assets $ 894,100 $
816,901
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable $ 377,030 $ 34
8,029
Accrued expenses and other current liabilities 84,680
78,841
Short term debt -
14,168
Current portion of long term debt 2,655
1,029
Total current liabilities 464,365 442,
067
Long term debt 7,386
1,194
Other liabilities 13,081 8,
955
Total liabilities 484,832
452,216
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
38,862,019 and 38,862,019 shares; outstanding 36,754,700 and 36,450,767 shares 389
389
Additional paid-in capital 181,519
180,508
Treasury stock at cost — 2,107,319 and 2,411,252 shares (24,947)
(28,545
)
Retained earnings 253,526
210,975
Accumulated other comprehensive (loss) income (1,219)
1,358
Total shareholders’ equity 409,268
364,685
Total liabilities and shareholders’ equity $ 894,100 $
816,901
See notes to consolidated financial statements.