Toro 2010 Annual Report Download - page 47

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31 2010 2009
ASSETS
Cash and cash equivalents $177,366 $187,773
Receivables, net:
Customers (net of $3,828 and $4,075 as of October 31, 2010 and 2009, respectively, for allowance for
doubtful accounts) 128,354 134,627
Other 14,547 9,082
Total receivables, net 142,901 143,709
Inventories, net 194,402 176,275
Prepaid expenses and other current assets 10,766 14,914
Deferred income taxes 59,538 59,467
Total current assets 584,973 582,138
Property, plant, and equipment, net 173,407 166,716
Deferred income taxes 842 3,585
Other assets 17,038 10,512
Goodwill 86,400 86,407
Other intangible assets, net 22,962 23,324
Total assets $885,622 $872,682
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $ 1,970 $ 3,765
Short-term debt 1,034 4,529
Accounts payable 125,138 91,074
Accrued liabilities:
Warranty 56,934 54,273
Advertising and marketing programs 43,095 45,298
Compensation and benefit costs 58,707 47,214
Insurance 24,858 18,924
Income taxes 7,645 440
Other 48,902 51,284
Total current liabilities 368,283 316,801
Long-term debt, less current portion 223,578 225,046
Deferred revenue 10,944 8,510
Other long-term liabilities 7,007 7,113
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 31,394,942 shares
as of October 31, 2010 and 33,369,486 shares as of October 31, 2009 31,395 33,369
Retained earnings 253,477 291,246
Accumulated other comprehensive loss (9,062) (9,403)
Total stockholders’ equity 275,810 315,212
Total liabilities and stockholders’ equity $885,622 $872,682
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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