Overstock.com 2009 Annual Report Download - page 118
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Table of Contents
Overstock.com, Inc.
Notes to Consolidated Financial Statements (Continued)
3. RESTATEMENT OF FINANCIAL STATEMENTS (Continued)
Overstock.com
Consolidated Balance Sheet
(in thousands)
December 31, 2008
As Previously
Reported Adjustments As Restated
Assets
Current assets:
Cash and cash equivalents $ 100,577 $ (4,120)$ 96,457
Restricted cash — 4,262 4,262
Marketable securities 8,989 — 8,989
Accounts receivable, net 6,985 115 7,100
Notes receivable 1,250 — 1,250
Inventories, net 17,723 6,996 24,719
Prepaid inventory, net 761 — 761
Prepaids and other assets 9,694 (142) 9,552
Total current assets 145,979 7,111 153,090
Fixed assets, net 23,144 1,580 24,724
Goodwill 2,784 — 2,784
Other long-term assets, net 538 — 538
Total assets $ 172,445 $ 8,691 $ 181,136
Liabilities and Stockholders' Equity (Deficit)
Current liabilities:
Accounts payable $ 62,120 $ (4,139)$ 57,981
Accrued liabilities 25,154 8,943 34,097
Deferred revenue 19,026 206 19,232
Total current liabilities 106,300 5,010 111,310
Other long-term liabilities 2,572 1,679 4,251
Convertible senior notes, net 66,558 — 66,558
Total liabilities 175,430 6,689 182,119
Redeemable common stock, $0.0001 par value, 98 shares outstanding as of
December 31, 2008 — 1,263 1,263
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value, 5,000 shares authorized, no shares issued and
outstanding as of December 31, 2008 — — —
Common stock, $0.0001 par value, 100,000 shares authorized, 25,438 shares
issued and 22,645 shares outstanding as of December 31, 2008 2 — 2
Additional paid-in capital 338,620 (913) 337,707
Accumulated deficit (264,985) 1,652 (263,333)
Treasury stock, 2,793 shares at cost as of December 31, 2008 (76,670) — (76,670)
Accumulated other comprehensive income 48 — 48
Total stockholders' deficit (2,985) 739 (2,246)
Total liabilities and stockholders' equity (deficit) $ 172,445 $ 8,691 $ 181,136
F-24