Rayovac 2003 Annual Report Download - page 65

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Condensed Consolidating Balance Sheet
September 30, 2002
Guarantor Nonguarantor Consolidated
Parent Subsidiaries Subsidiaries Eliminations Total
Assets
Current assets:
Cash and cash equivalents $ 3,518 $ 46 $ 6,317 $ — $ 9,881
Receivables:
Trade accounts receivables, net of allowance for
doubtful accounts 27,246 51,117 50,564 — 128,927
Other 17,418 10,762 7,107 (27,604) 7,683
Inventories 58,619 — 28,142 (2,486) 84,275
Deferred income taxes 5,607 — 2,979 — 8,586
Prepaid expenses and other 14,452 — 5,518 — 19,970
Total current assets 126,860 61,925 100,627 (30,090) 259,322
Property, plant and equipment, net 75,838 — 26,748 — 102,586
Deferred charges and other 65,413 1 1,224 (30,288) 36,350
Goodwill 1,035 — 29,532 — 30,567
Intangible assets, net 89,046 ——(188) 88,858
Deferred income taxes 6,079 1,598 4,666 — 12,343
Debt issuance costs 3,207 —— —3,207
Investments in subsidiaries 149,329 86,673 — (236,002) —
Total assets $ 516,807 $150,197 $162,797 $(296,568) $ 533,233
Liabilities and Shareholders’ Equity
Current liabilities:
Current maturities of long-term debt $ 16,985 $ — $ 3,854 $ (7,439) $ 13,400
Accounts payable 68,188 — 27,688 (19,721) 76,155
Accrued liabilities:
Wages and benefits 7,182 — 1,728 — 8,910
Income taxes payable 4,696 860 1,587 — 7,143
Accrued interest 1,657 — 7 — 1,664
Restructuring charges 1,639 — 62 — 1,701
Other 7,331 3 2,477 — 9,811
Total current liabilities 107,678 863 37,403 (27,160) 118,784
Long-term debt, net of current maturities 188,461 — 30,298 (30,288) 188,471
Employee benefit obligations, net of current portion 23,603 — 406 — 24,009
Deferred income taxes 13,549 5 7,403 — 20,957
Other 5,354 — 865 — 6,219
Total liabilities 338,645 868 76,375 (57,448) 358,440
Shareholders’ equity:
Common stock 615 1 12,072 (12,072) 616
Additional paid-in capital 180,704 62,788 54,157 (116,826) 180,823
Retained earnings 152,745 95,099 28,449 (127,072) 149,221
Accumulated other comprehensive loss (19,894) (8,559) (8,256) 16,850 (19,859)
Notes receivable from officers/shareholders (4,205) —— —(4,205)
309,965 149,329 86,422 (239,120) 306,596
Less treasury stock, at cost (130,070) —— —(130,070)
Less unearned restricted stock compensation (1,733) —— —(1,733)
Total shareholders’ equity 178,162 149,329 86,422 (239,120) 174,793
Total liabilities and shareholders’ equity $ 516,807 $150,197 $162,797 $(296,568) $ 533,233
Notes to Consolidated Financial Statements
Rayovac Corporation and Subsidiaries
(In thousands, except per share amounts)