LeapFrog 2002 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2002 LeapFrog annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

LEAPFROG ENTERPRISES, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
December 31,
2002 2001
ASSETS
Current assets:
Cash and cash equivalents ............................................... $ 73,327 $ 8,269
Accounts receivable, net of allowances of $16,388 and $9,854 at December 31, 2002
and 2001, respectively ................................................ 169,670 115,499
Inventories, net ....................................................... 84,460 46,103
Prepaid expenses and other current assets .................................. 4,065 2,058
Notes receivable due from related parties ................................... 595 —
Deferred income taxes .................................................. 16,783 7,049
Total current assets ........................................................ 348,900 178,978
Property and equipment, net ................................................. 20,239 16,857
Other assets .............................................................. 284 148
Notes receivable due from related parties ....................................... — 689
Investments in affiliates and related parties ..................................... 200 200
Deferred income taxes ...................................................... 4,867 1,779
Intangible assets, net ....................................................... 23,192 23,322
Total assets .............................................................. $397,682 $221,973
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ..................................................... $ 58,844 $ 34,412
Accrued liabilities ..................................................... 25,496 9,342
Deferred revenue ...................................................... 3,006 2,250
Cooperative advertising ................................................. 15,037 5,380
Incometaxespayable .................................................. 21,832 9,634
Total current liabilities ..................................................... 124,215 61,018
Long term debt ........................................................... — 61,163
Deferred rent and other long term liabilities ..................................... 550 245
Deferred income taxes ...................................................... 4,119 2,560
Commitments and contingencies
Redeemable convertible series A preferred stock, $0.0001 par value; 2,000,000 shares
authorized at December 31, 2002 and 6,000,000 shares authorized at December 31,
2001; -0- outstanding at December 31, 2002; 2,000,000 issued and outstanding, net of
$861 of issuance costs. (Liquidation preference of $25,000 at December 31, 2001). . . . — 24,139
Stockholders’ equity:
Class A common stock, par value $0.0001; 139,500,000 shares authorized at December
31, 2002, and 70,000,000 shares authorized at December 31, 2001; shares issued and
outstanding: 15,700,467 and 3,436,577 at December 31, 2002 and 2001,
respectively .......................................................... 2 —
Class B common stock, par value $0.0001; 40,500,000 shares authorized; 38,678,831
and 30,487,805 shares issued and outstanding at December 31, 2002 and 2001,
respectively. .......................................................... 4 3
Treasury stock; -0- at December 31, 2002 and 232,160 shares at December 31,
2001 ................................................................ — (550)
Additional paid-in capital ................................................. 227,020 74,308
Deferred compensation ................................................... (4,922) (2,560)
Notes receivable from stockholders ......................................... (2,624) (4,073)
Accumulated other comprehensive income ................................... 165 11
Retained earnings ....................................................... 49,153 5,709
Total stockholders’ equity ................................................... 268,798 72,848
Total liabilities and stockholders’ equity ....................................... $397,682 $221,973
See accompanying notes.
F-3