LeapFrog 2003 Annual Report Download - page 71

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LEAPFROG ENTERPRISES, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
December 31,
2003 2002
ASSETS
Current assets:
Cash and cash equivalents ............................................... $ 69,844 $ 70,827
Short term investments ................................................. 42,759 2,500
Accounts receivable, net of allowances of $26,980 and $16,388 at December 31,
2003 and 2002, respectively ........................................... 281,792 169,670
Inventories, net ....................................................... 90,897 84,460
Prepaid expenses and other current assets .................................. 8,370 4,065
Notes receivable due from related parties ................................... — 595
Deferred income taxes .................................................. 11,735 16,783
Total current assets ........................................................ 505,397 348,900
Property and equipment, net ................................................. 20,547 20,239
Other assets .............................................................. 1,048 284
Investments in affiliates and related parties ..................................... — 200
Deferred income taxes ...................................................... 619 4,867
Intangible assets, net ....................................................... 25,048 23,192
Total assets .............................................................. $552,659 $397,682
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ..................................................... $ 86,161 $ 58,844
Accrued liabilities ..................................................... 44,634 40,533
Deferred revenue ...................................................... 1,417 3,006
Income taxes payable .................................................. 4,729 21,832
Total current liabilities ..................................................... 136,941 124,215
Deferred rent and other long term liabilities ..................................... 572 550
Deferred income taxes ...................................................... — 4,119
Commitments and contingencies
Stockholders’ equity:
Class A common stock, par value $0.0001; 139,500 shares authorized; shares issued
and outstanding: 31,273 and 15,700 at December 31, 2003 and 2002,
respectively ........................................................ 3 2
Class B common stock, par value $0.0001; 40,500 shares authorized; 27,883 and
38,679 shares issued and outstanding at December 31, 2003 and 2002,
respectively. ........................................................ 3 4
Additional paid-in capital ............................................... 294,976 227,020
Deferred compensation ................................................. (2,492) (4,922)
Notes receivable from stockholders ....................................... — (2,624)
Accumulated other comprehensive income ................................. 828 165
Retained earnings ..................................................... 121,828 49,153
Total stockholders’ equity ................................................... 415,146 268,798
Total liabilities and stockholders’ equity ....................................... $552,659 $397,682
See accompanying notes
F-3
FINANCIALS