Toro 2009 Annual Report Download - page 48

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31 2009 2008
ASSETS
Cash and cash equivalents $187,773 $ 99,359
Receivables, net:
Customers (net of $4,075 and $2,646 as of October 31, 2009 and 2008, respectively, for allowance for
doubtful accounts) 134,627 246,103
Other 9,082 10,156
Total receivables, net 143,709 256,259
Inventories, net 176,275 207,084
Prepaid expenses and other current assets 14,914 27,491
Deferred income taxes 59,467 53,755
Total current assets 582,138 643,948
Property, plant, and equipment, net 166,716 168,867
Deferred income taxes 3,585 6,476
Other assets 10,512 7,949
Goodwill 86,407 86,192
Other intangible assets, net 23,324 18,828
Total assets $872,682 $932,260
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $ 3,765 $ 3,276
Short-term debt 4,529 2,326
Accounts payable 91,074 92,997
Accrued liabilities:
Warranty 54,273 58,770
Advertising and marketing programs 45,298 48,412
Compensation and benefit costs 47,214 53,898
Insurance 18,924 15,587
Income taxes 440 4,761
Other 51,284 44,424
Total current liabilities 316,801 324,451
Long-term debt, less current portion 225,046 227,515
Deferred revenue 8,510 9,363
Other long-term liabilities 7,113 6,256
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 33,369,486 shares
as of October 31, 2009 and 35,484,766 shares as of October 31, 2008 33,369 35,485
Retained earnings 291,246 337,734
Accumulated other comprehensive loss (9,403) (8,544)
Total stockholders’ equity 315,212 364,675
Total liabilities and stockholders’ equity $872,682 $932,260
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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