Cracker Barrel 2009 Annual Report Download - page 56

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54
C R A C K E R B A R R E L O L D C O U N T R Y S TO R E , I N C .
Consolidated Balance Sheet
(In thousands except share data)
July 31, August 1,
2009 2008
ASSETS
Current Assets:
Cash and cash equivalents $ 11,609 $ 11,978
Property held for sale — 3,248
Accounts receivable 12,730 13,484
Income taxes receivable 4,078 6,919
Inventories 137,424 155,954
Prepaid expenses and other current assets 9,193 10,981
Deferred income taxes 23,291 18,075
Total current assets 198,325 220,639
Property and Equipment:
Land 286,161 299,608
Buildings and improvements 686,736 711,030
Buildings under capital leases 3,289 3,289
Restaurant and other equipment 379,459 359,089
Leasehold improvements 200,704 183,729
Construction in progress 16,089 15,071
Total 1,572,438 1,571,816
Less: Accumulated depreciation and amortization of capital leases 570,662 526,576
Property and equipment – net 1,001,776 1,045,240
Other assets 45,080 47,824
Total $1,245,181 $1,313,703
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable $ 92,168 $ 93,112
Current maturities of long-term debt and other long-term obligations 7,422 8,714
Taxes withheld and accrued 32,081 29,459
Accrued employee compensation 49,994 46,185
Accrued employee benefits 32,633 34,241
Deferred revenues 22,528 22,618
Accrued interest expense 10,379 12,485
Other accrued expenses 17,757 17,905
Total current liabilities 264,962 264,719
Long-term debt 638,040 779,061
Capital lease obligations 60 77
Interest rate swap liability 61,232 39,618
Other long-term obligations 89,610 83,147
Deferred income taxes 55,655 54,330
Commitments and Contingencies (Note 2 and 18)
Shareholders’ Equity:
Preferred stock – 100,000,000 shares of $.01 par value authorized; no shares issued — —
Common stock – 400,000,000 shares of $.01 par value authorized; 2009 – 22,722,685
shares issued and outstanding; 2008 – 22,325,341 shares issued and outstanding 227 223
Additional paid-in capital 12,972 731
Accumulated other comprehensive loss (44,822) (27,653)
Retained earnings 167,245 119,450
Total shareholders’ equity 135,622 92,751
Total $1,245,181 $1,313,703
See Notes to Consolidated Financial Statements.
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