Overstock.com 2004 Annual Report Download - page 66

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Overstock.com, Inc.
Consolidated Balance Sheets
December 31,
2003 2004
(in thousands)
Assets
Current assets:
Cash and cash equivalents $ 28,846 $198,678
Marketable securities 11,500 88,802
Cash, cash equivalents and marketable securities 40,346 287,480
Accounts receivable, net 10,183 5,715
Inventories, net 29,926 45,279
Prepaid inventory 2,946 12,322
Prepaid expenses 1,637 3,444
Total current assets 85,038 354,240
Restricted cash — 1,602
Property and equipment, net 9,483 16,122
Goodwill 2,784 2,784
Other long-term assets, net 427 1,516
Total assets $ 97,732 $376,264
Liabilities, Redeemable Securities and Stockholders' Equity
Current liabilities:
Accounts payable $ 30,363 $ 64,060
Accrued liabilities 9,316 22,917
Capital lease obligations, current 75 595
Total current liabilities 39,754 87,572
Capital lease obligations, non-current 86 743
Convertible senior notes — 116,251
Total liabilities 39,840 204,566
Commitments and contingencies (notes 10, 11 and 12)
Redeemable common stock, $0.0001 par value, 460 shares issued and outstanding as of December 31, 2003 and 2004 2,978 3,166
Stockholders' equity:
Preferred stock, $0.0001 par value, 5,000 shares authorized, no shares issued and outstanding as of
December 31, 2003 and 2004 — —
Common stock, $0.0001 par value, 100,000 shares authorized, 16,060 and 19,390 shares issued as of
December 31, 2003 and 2004, respectively 2 2
Additional paid-in capital 123,934 243,131
Accumulated deficit (67,815) (73,005)
Unearned stock-based compensation (1,094) (1,301)
Treasury stock, 35 shares at cost (100) (100)
Accumulated other comprehensive loss (13) (195)
Total stockholders' equity 54,914 168,532
Total liabilities, redeemable securities and stockholders' equity $ 97,732 $376,264
The accompanying notes are an integral part of these consolidated financial statements.
F-4