Red Lobster 2014 Annual Report Download - page 26

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24 Darden Restaurants, Inc.
Consolidated Balance Sheets
Darden
May 25, May 26,
(in millions) 2014 2013
Assets
Current assets:
Cash and cash equivalents $ 98.3 $ 88.2
Receivables, net 83.8 85.4
Inventories 196.8 356.9
Prepaid income taxes 10.9 6.4
Prepaid expenses and other current assets 72.3 83.4
Deferred income taxes 124.0 144.6
Assets held for sale 1,390.3 –
Total current assets $1,976.4 $ 764.9
Land, buildings and equipment, net 3,381.0 4,391.1
Goodwill 872.5 908.3
Trademarks 574.6 573.8
Other assets 296.2 298.8
Total assets $7,100.7 $6,936.9
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 233.1 $ 296.5
Short-term debt 207.6 164.5
Accrued payroll 125.7 150.5
Accrued income taxes – 16.5
Other accrued taxes 64.5 67.6
Unearned revenues 299.7 270.5
Current portion of long-term debt 15.0 –
Other current liabilities 457.4 450.3
Liabilities associated with assets held for sale 215.5 –
Total current liabilities $1,618.5 $1,416.4
Long-term debt, less current portion 2,481.4 2,496.2
Deferred income taxes 286.1 356.4
Deferred rent 206.2 230.5
Obligations under capital leases, net of current installments 52.0 52.5
Other liabilities 299.6 325.4
Total liabilities $4,943.8 $4,877.4
Stockholders’ equity:
Common stock and surplus, no par value. Authorized 500.0 shares; issued 133.6 and 131.6 shares,
respectively; outstanding 132.3 and 130.3 shares, respectively 1,302.2 1,207.6
Preferred stock, no par value. Authorized 25.0 shares; none issued and outstanding – –
Retained earnings 995.8 998.9
Treasury stock, 1.3 and 1.3 shares, at cost, respectively (7.8) (8.1)
Accumulated other comprehensive income (loss) (128.1) (132.8)
Unearned compensation (5.2) (6.1)
Total stockholders’ equity $2,156.9 $2,059.5
Total liabilities and stockholders’ equity $7,100.7 $6,936.9
See accompanying notes to consolidated financial statements.