Toro 2008 Annual Report Download - page 49

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31
2008
2007
ASSETS
Cash and cash equivalents $ 99,359 $ 62,047
Receivables, net:
Customers (net of $2,646 and $3,647 as of October 31, 2008 and 2007, respectively, for allowance for
doubtful accounts) 246,103 273,527
Other 10,156 9,588
Total receivables, net 256,259 283,115
Inventories, net 207,084 251,275
Prepaid expenses and other current assets 27,491 10,677
Deferred income taxes 53,755 57,814
Total current assets 643,948 664,928
Property, plant, and equipment, net 168,867 170,672
Deferred income taxes 6,476 5,185
Other assets 7,949 9,153
Goodwill 86,192 86,224
Other intangible assets, net 18,828 14,675
Total assets $932,260 $950,837
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $ 3,276 $ 1,611
Short-term debt 2,326 372
Accounts payable 92,997 90,966
Accrued liabilities:
Warranty 58,770 62,030
Advertising and marketing programs 48,412 53,765
Compensation and benefit costs 53,898 61,462
Income taxes 4,761 2,089
Other 60,011 69,175
Total current liabilities 324,451 341,470
Long-term debt, less current portion 227,515 227,598
Deferred revenue 9,363 10,062
Other long-term liabilities 6,256 1,269
Stockholders’ equity:
Preferred stock, par value $1.00, authorized 1,000,000 voting and 850,000 non-voting shares, none issued
and outstanding – –
Common stock, par value $1.00, authorized 100,000,000 shares, issued and outstanding 35,484,766 shares
as of October 31, 2008 and 37,950,831 shares as of October 31, 2007 35,485 37,951
Retained earnings 337,734 335,384
Accumulated other comprehensive loss (8,544) (2,897)
Total stockholders’ equity 364,675 370,438
Total liabilities and stockholders’ equity $932,260 $950,837
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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