Rayovac 2003 Annual Report Download - page 33

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September 30,
(In thousands, except per share amounts) 2002 2003
Assets
Current assets:
Cash and cash equivalents $ 9,881 $ 107,774
Receivables:
Trade accounts receivable, net of allowance for doubtful receivables of $3,293, and
$22,911, respectively 128,927 255,205
Other 7,683 15,376
Inventories 84,275 219,254
Deferred income taxes 8,586 27,012
Prepaid expenses and other 19,970 50,705
Total current assets 259,322 675,326
Property, plant and equipment, net 102,586 150,412
Deferred charges and other 36,350 40,160
Goodwill 30,567 398,380
Intangible assets, net 88,858 253,067
Deferred income taxes 12,343 31,036
Debt issuance costs 3,207 28,111
Total assets $ 533,233 $1,576,492
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 13,400 $ 72,852
Accounts payable 76,155 172,632
Accrued liabilities:
Wages and benefits 8,910 36,580
Income taxes payable 7,143 20,569
Restructuring charges 1,701 5,750
Accrued interest 1,664 4,894
Other 9,811 83,737
Deferred income taxes —8,511
Total current liabilities 118,784 405,525
Long-term debt, net of current maturities 188,471 870,540
Employee benefit obligations, net of current portion 24,009 63,044
Deferred income taxes 20,957 22,694
Other 6,219 12,687
Total liabilities 358,440 1,374,490
Shareholders’ equity:
Common stock, $.01 par value, authorized 150,000 shares; issued 61,594 and
61,999 shares, respectively; outstanding 32,058 and 32,463 shares, respectively 616 620
Additional paid-in capital 180,823 185,561
Retained earnings 149,221 164,703
Accumulated other comprehensive loss (19,859) (12,457)
Notes receivable from officers/shareholders (4,205) (3,605)
306,596 334,822
Less treasury stock, at cost, 29,536 shares (130,070) (130,070)
Less unearned restricted stock compensation (1,733) (2,750)
Total shareholders’ equity 174,793 202,002
Total liabilities and shareholders’ equity $ 533,233 $1,576,492
See accompanying notes to consolidated financial statements.
Consolidated Balance Sheets
Rayovac Corporation and Subsidiaries