Rayovac 2002 Annual Report Download - page 37

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22
23
CONSOLIDATED BALANCE SHEETS
Rayovac Corporation and Subsidiaries
September 30,
(In thousands, except per share amounts) 2001 2002
Assets
Current assets:
Cash and cash equivalents $ 11,358 $ 9,881
Receivables:
Trade accounts receivable, net of allowance for doubtful receivables of $2,139 and
$3,293, respectively 160,943 128,927
Other 7,802 7,683
Inventories 91,311 84,275
Deferred income taxes 9,831 8,586
Prepaid expenses and other 21,843 19,970
Total current assets 303,088 259,322
Property, plant and equipment, net 107,257 102,586
Deferred charges and other 32,617 48,693
Intangible assets, net 119,074 119,425
Debt issuance costs 4,463 3,207
Total assets $ 566,499 $ 533,233
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 24,436 $ 13,400
Accounts payable 81,990 76,155
Accrued liabilities:
Wages and benefits 7,178 8,910
Accrued interest 1,930 1,664
Other special charges 5,883 1,701
Other 23,124 16,954
Total current liabilities 144,541 118,784
Long-term debt, net of current maturities 233,541 188,471
Employee benefit obligations, net of current portion 19,648 24,009
Deferred income taxes 7,428 20,957
Other 3,756 6,219
Total liabilities 408,914 358,440
Shareholders’ equity:
Common stock, $.01 par value, authorized 150,000 shares; issued 61,579 and
61,594 shares, respectively; outstanding 32,043 and 32,058 shares, respectively 616 616
Additional paid-in capital 180,752 180,823
Retained earnings 119,984 149,221
Accumulated other comprehensive loss (6,868) (19,859)
Notes receivable from officers/shareholders (3,665) (4,205)
290,819 306,596
Less treasury stock, at cost, 29,536 shares (130,070) (130,070)
Less unearned restricted stock compensation (3,164) (1,733)
Total shareholders’ equity 157,585 174,793
Total liabilities and shareholders’ equity $ 566,499 $ 533,233
See accompanying notes to consolidated financial statements.