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Table of Contents
EARTHLINK, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
The accompanying notes are an integral part of these consolidated financial statements.
82
December 31,
2009 2010
ASSETS
Current assets:
Cash and cash equivalents
$
610,995
$
242,952
Marketable securities
84,966
307,814
Restricted cash
—
2,270
Accounts receivable, net of allowance of $1,736 and $1,182 as of
December 31, 2009 and 2010, respectively
20,560
60,216
Prepaid expenses
4,374
12,723
Deferred income taxes, net
46,063
45,661
Other current assets
16,423
14,240
Total current assets
783,381
685,876
Long
-
term marketable securities
—
12,304
Property and equipment, net
34,267
241,111
Deferred income taxes, net
153,132
170,213
Purchased intangible assets, net
11,550
135,364
Goodwill
88,920
277,810
Other long
-
term assets
3,368
1,240
Total assets
$
1,074,618
$
1,523,918
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
6,270
$
17,272
Accrued payroll and related expenses
25,093
18,402
Other accrued liabilities
34,659
75,629
Deferred revenue
25,728
40,921
Convertible senior notes, net of discount of $26,502 and $12,722 as of
December 31, 2009 and 2010, respectively
232,248
243,069
Total current liabilities
323,998
395,293
Long
-
term debt, including premium of $26,251 as of December 31, 2010
—
351,251
Other long
-
term liabilities
16,596
19,506
Total liabilities
340,594
766,050
Commitments and contingencies (See Note 15)
Stockholders' equity:
Convertible preferred stock, $0.01 par value, 100,000 shares authorized,
0 shares issued and outstanding as of December 31, 2009 and 2010
—
—
Common stock, $0.01 par value, 300,000 shares authorized, 190,472 and
191,825 shares issued as of December 31, 2009 and 2010,
respectively, and 107,132 and 108,382 shares outstanding as of
December 31, 2009 and 2010, respectively
1,905
1,918
Additional paid
-
in capital
2,118,100
2,061,555
Accumulated deficit
(729,715
)
(648,235
)
Treasury stock, at cost, 83,340 and 83,443 shares, respectively, as of
December 31, 2009 and 2010
(656,760
)
(657,611
)
Accumulated other comprehensive income
494
241
Total stockholders' equity
734,024
757,868
Total liabilities and stockholders' equity
$
1,074,618
$
1,523,918