Plantronics 2007 Annual Report Download - page 68

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64 P l a n t r o n i c s
Item 8. Financial Statements and Supplementary Data
PLANTRONICS, INC.
CONSOLIDATED BALANCE SHEETS
March 31, (in thousands, except share data) 2006 2007
ASSETS
Current assets:
Cash and cash equivalents $ 68,703 $ 94,131
Short-term investments 8,029 9,234
Accounts receivable, net 118,008 113,758
Inventory 105,882 126,605
Deferred income taxes 12,409 12,659
Other current assets 15,318 18,474
Total current assets 328,349 374,861
Property, plant and equipment, net 93,874 97,259
Intangibles, net 109,208 100,120
Goodwill 75,077 72,825
Other assets 5,741 6,239
Total assets $ 612,249 $ 651,304
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Line of credit $ 22,043 $ —
Accounts payable 48,574 49,956
Accrued liabilities 43,081 54,025
Income taxes payable 13,231 12,476
Total current liabilities 126,929 116,457
Deferred tax liability 48,246 37,344
Long-term liabilities 1,453 696
Total liabilities 176,628 154,497
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.01 par value per share; 1,000 shares authorized, no
shares outstanding — —
Common stock, $0.01 par value per share; 100,000 shares authorized,
66,270 shares and 66,641 shares issued at 2006 and 2007, respectively 662 666
Additional paid-in capital 325,764 340,661
Deferred stock-based compensation (8,599) —
Accumulated other comprehensive income 3,634 2,666
Retained earnings 509,562 550,165
831,023 894,158
Less: Treasury stock (common: 18,732 and 18,576 shares at 2006 and
2007, respectively) at cost (395,402) (397,351)
Total stockholders’ equity 435,621 496,807
Total liabilities and stockholders’ equity $ 612,249 $ 651,304
The accompanying notes are an integral part of these consolidated financial statements.