Office Depot 2008 Annual Report Download - page 51

OFFICE DEPOT, INC.
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
50
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
December 27, December 29,
2008 2007
ASSETS
Current assets:
Cash and cash equivalents............................................................................................ $ 155,745 $ 222,954
Receivables, net of allowances of $45,990 in 2008 and $46,316 in 2007.................... 1,255,735 1,511,681
Inventories.................................................................................................................... 1,331,593 1,717,662
Deferred income taxes.................................................................................................. 196,192 120,162
Prepaid expenses and other current assets .................................................................... 183,122 143,255
Total current assets ................................................................................................... 3,122,387 3,715,714
Property and equipment, net............................................................................................. 1,557,301 1,588,958
Goodwill........................................................................................................................... 19,431 1,282,457
Other intangible assets...................................................................................................... 28,311 107,987
Other assets....................................................................................................................... 540,796 561,424
Total assets................................................................................................................ $ 5,268,226 $ 7,256,540
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable ................................................................................................ $ 1,251,808 $ 1,591,154
Accrued expenses and other current liabilities ............................................................. 1,173,201 1,170,775
Income taxes payable ................................................................................................... 8,803 3,491
Short-term borrowings and current maturities of long-term debt................................. 191,932 207,996
Total current liabilities.............................................................................................. 2,625,744 2,973,416
Deferred income taxes and other long-term liabilities...................................................... 585,861 576,254
Long-term debt, net of current maturities......................................................................... 688,788 607,462
Minority interest ............................................................................................................... 4,883 15,564
Commitments and contingencies
Stockholders’ equity:
Common stock — authorized 800,000,000 shares of $.01 par value; issued and
outstanding shares — 280,800,135 in 2008 and 428,777,625 in 2007....................... 2,808 4,288
Additional paid-in capital............................................................................................. 1,194,622 1,784,184
Accumulated other comprehensive income.................................................................. 217,197 495,916
Retained earnings ......................................................................................................... 6,270 3,783,805
Treasury stock, at cost — 5,938,059 shares in 2008 and 155,819,358 shares
in 2007 ....................................................................................................................... (57,947)
(2,984,349)
Total stockholders’ equity......................................................................................... 1,362,950 3,083,844
Total liabilities and stockholders’ equity ............................................................. $ 5,268,226 $ 7,256,540