O'Reilly Auto Parts 2008 Annual Report Download - page 40

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PG.38 O’REILLY AUTOMOTIVE 2008 ANNUAL REPORT
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
Years ended December 31, 2008 2007
ASSETS:
Current assets:
Cash and cash equivalents $ 31,301 $ 47,555
Accounts receivable, less allowance for doubtful
accounts of $4,521 in 2008 and $3,179 in 2007 105,985 84,242
Amounts receivable from vendors 59,826 48,263
Inventory 1,570,144 881,761
Deferred income taxes 64,028 --
Other current assets 44,149 40,483
Total current assets 1,875,433 1,102,304
Property and equipment, at cost 1,939,532 1,479,779
Less: accumulated depreciation and amortization 489,639 389,619
Net property and equipment 1,449,893 1,090,160
Notes receivable, less current portion 21,548 25,437
Goodwill 720,508 50,447
Deferred income taxes 28,767 --
Other assets, net 97,168 11,389
Total assets $ 4,193,317 $ 2,279,737
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current liabilities:
Accounts payable $ 736,986 $ 380,683
Self insurance reserve 65,170 29,967
Accrued payroll 60,616 23,739
Accrued benets and withholdings 38,583 13,496
Deferred income taxes -- 6,235
Other current liabilities 144,015 49,536
Current portion of long-term debt 8,131 25,320
Total current liabilities 1,053,501 528,976
Long-term debt, less current portion 724,564 75,149
Deferred income taxes -- 27,241
Other liabilities 133,034 55,894
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 – 245,000,000
Issued and outstanding shares – 134,828,650 in 2008 and 115,260,564 in 2007 1,348 1,153
Additional paid-in capital 949,758 441,731
Retained earnings 1,342,625 1,156,393
Accumulated other comprehensive loss (11,513) (6,800)
Total shareholders’ equity 2,282,218 1,592,477
Total liabilities and shareholders’ equity $ 4,193,317 $ 2,279,737
See accompanying Notes to Consolidated Financial Statements.