Orbitz 2009 Annual Report Download - page 68

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ORBITZ WORLDWIDE, INC.
CONSOLIDATED BALANCE SHEETS
(in millions, except share data)
December 31,
2008
December 31,
2007
Successor
Assets
Current assets:
Cash and cash equivalents ........................................ $ 31 $ 25
Accounts receivable (net of allowance for doubtful accounts of
$1 and $2, respectively) ........................................ 58 60
Prepaid expenses............................................... 17 16
Security deposits ............................................... — 8
Deferred income taxes, current .................................... 6 3
Due from Travelport, net ......................................... 10 —
Other current assets............................................. 6 9
Total current assets ............................................... 128 121
Property and equipment, net ........................................ 190 184
Goodwill . . . ................................................... 949 1,181
Trademarks and trade names ........................................ 232 313
Other intangible assets, net ......................................... 34 68
Deferred income taxes, non-current ................................... 9 12
Other non-current assets ........................................... 48 46
Total Assets .................................................... $1,590 $1,925
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable .............................................. $ 37 $ 37
Accrued merchant payable ....................................... 205 218
Accrued expenses .............................................. 106 121
Deferred income ............................................... 23 28
Due to Travelport, net ........................................... — 8
Term loan, current.............................................. 6 6
Other current liabilities .......................................... 9 4
Total current liabilities ............................................ 386 422
Term loan, non-current ............................................ 587 593
Line of credit ................................................... 21 1
Tax sharing liability .............................................. 109 114
Unfavorable contracts ............................................. 13 17
Other non-current liabilities ........................................ 36 40
Total Liabilities ................................................. 1,152 1,187
Commitments and contingencies (see Note 11)
Shareholders’ Equity:
Preferred stock, $0.01 par value, 100 shares authorized, no shares issued or
outstanding ................................................. — —
Common stock, $0.01 par value, 140,000,000 shares authorized, 83,345,437
and 83,107,909 shares issued and outstanding, respectively .............. 1 1
Treasury stock, at cost, 18,055 and 8,852 shares held, respectively .......... — —
Additional paid in capital ........................................ 908 894
Accumulated deficit ............................................ (450) (151)
Accumulated other comprehensive (loss) (net of accumulated tax benefit of $2
and $2, respectively) .......................................... (21) (6)
Total Shareholders’ Equity ......................................... 438 738
Total Liabilities and Shareholders’ Equity ............................ $1,590 $1,925
See Notes to Consolidated Financial Statements.
68