Home Shopping Network 2008 Annual Report Download - page 42

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39
HSN, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
ASSETS
Cash and cash equivalents $ 177,463 $ 6,220
Accounts receivable, net of allowance of $10,026 and $8,112, respectively 165,114 192,609
Inventories 304,172 317,411
Deferred income taxes 21,777 24,606
Prepaid expenses and other current assets 42,080 55,182
Total current assets 710,606 596,028
Property and equipment, net 157,832 155,805
Goodwill - 2,884,389
Intangible assets, net 261,747 571,662
Other non-current assets 22,272 12,747
TOTAL ASSETS $ 1,152,457 $ 4,220,631
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable, trade $ 209,615 $ 260,531
Current maturities of long-term debt 15,000
-
Accrued expenses and other current liabilities 179,637 188,312
Total current liabilities 404,252 448,843
Long-term debt, less current liabilities 393,528
-
Deferred income taxes 83,276 819,969
Other long-term liabilities 13,116 8,933
Total liabilities 894,172 1,277,745
Commitments and contingencies (Note 14)
SHAREHOLDERS' EQUITY:
Preferred stock $0.01 par value; 25,000,000 authorized shares; no issued shares -
-
Common stock $0.01 par value; 300,000,000 authorized shares; 56,222,631 issued 562
-
shares
Invested capital - 4,522,873
Receivables from IAC and subsidiaries - (1,581,157)
Additional paid-in capital
2,406,503
-
Retained deficit (2,148,534)
-
Accumulated other comprehensive (loss) income (246) 1,170
Total shareholders' equity 258,285 2,942,886
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,152,457 $ 4,220,631
December 31,
2008 2007
The accompanying notes are an integral part of these consolidated financial statements.