Toro 2011 Annual Report Download - page 48

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31 2011 2010
ASSETS
Cash and cash equivalents $ 80,886 $177,366
Receivables, net:
Customers (net of $1,964 and $3,828 as of October 31, 2011 and 2010, respectively, for allowance for
doubtful accounts) 142,400 128,354
Other 5,740 14,547
Total receivables, net 148,140 142,901
Inventories, net 223,030 194,402
Prepaid expenses and other current assets 18,303 10,766
Deferred income taxes 62,523 59,538
Total current assets 532,882 584,973
Property, plant, and equipment, net 191,140 173,407
Other assets 19,075 17,880
Goodwill 92,020 86,400
Other intangible assets, net 35,546 22,962
Total assets $870,663 $885,622
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $ 1,978 $ 1,970
Short-term debt 41 1,034
Accounts payable 118,036 125,138
Accrued liabilities:
Warranty 62,730 56,934
Advertising and marketing programs 47,161 43,095
Compensation and benefit costs 53,653 58,707
Insurance 19,417 24,858
Income taxes 2,504 7,645
Other 53,560 48,902
Total current liabilities 359,080 368,283
Long-term debt, less current portion 225,178 223,578
Deferred revenue 10,619 10,944
Deferred income taxes 1,368 —
Other long-term liabilities 7,651 7,007
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 29,603,095 shares
as of October 31, 2011 and 31,394,942 shares as of October 31, 2010 29,603 31,395
Retained earnings 243,990 253,477
Accumulated other comprehensive loss (6,826) (9,062)
Total stockholders’ equity 266,767 275,810
Total liabilities and stockholders’ equity $870,663 $885,622
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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