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O’REILLY AUTOMOTIVE 2001 ANNUAL REPORT
A MODEL YEAR
Page 20
(In thousands, except per share data)
DECEMBER 31, 2001 2000
ASSETS
Current assets:
Cash $15,041 $9,204
Short-term investments 500 500
Accounts receivable, less allowance for doubtful accounts of $1,760 in 2001 and $135 in 2000 41,486 32,673
Amounts receivable from vendors 38,440 29,175
Inventory 447,793 372,069
Refundable income taxes 168 92
Deferred income taxes 3,908 1,402
Other current assets 3,327 4,089
Total current assets 550,663 449,204
Property and equipment, at cost:
Land 48,096 46,740
Buildings 121,250 109,835
Leasehold improvements 45,456 34,750
Furniture, fixtures and equipment 143,046 106,068
Vehicles 34,517 25,628
392,365 323,021
Accumulated depreciation and amortization 103,361 76,167
Net property and equipment 289,004 246,854
Notes receivable 2,557 2,836
Other assets, net 14,635 17,101
Total assets $856,859 $715,995
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Notes payable to bank $5,000 $35,000
Income taxes payable –1,011
Accounts payable 61,875 68,947
Accrued payroll 12,866 9,309
Accrued benefits and withholdings 14,038 9,360
Other current liabilities 15,514 15,184
Current portion of long-term debt 11,843 14,121
Total current liabilities 121,136 152,932
Long-term debt, less current portion 165,618 90,463
Deferred income taxes 9,141 4,086
Other liabilities 4,673 4,783
Commitments and contingencies ––
Shareholders’ equity:
Preferred stock, $0.01 par value:
Authorized shares – 5,000,000
Issued and outstanding shares – none ––
Common stock, $0.01 par value:
Authorized shares – 90,000,000
Issued and outstanding shares – 52,850,713 in 2001 and 51,544,879 in 2000 528 515
Additional paid-in capital 256,795 230,600
Retained earnings 298,968 232,616
Total shareholders’ equity 556,291 463,731
Total liabilities and shareholders’ equity $856,859 $715,995
See Notes to Consolidated Financial Statements.
CONSOLIDATED BALANCE SHEETS