Toro 2014 Annual Report Download - page 53

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CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except per share data) October 31 2014 2013
ASSETS
Cash and cash equivalents $ 314,873 $ 182,993
Receivables, net:
Customers (net of $1,481 and $3,035, respectively, for allowance for doubtful accounts) 151,479 147,475
Other 6,679 9,696
Total receivables, net 158,158 157,171
Inventories, net 274,603 240,089
Prepaid expenses and other current assets 33,580 33,258
Deferred income taxes 42,822 39,756
Total current assets 824,036 653,267
Property, plant, and equipment, net 205,195 185,096
Long-term deferred income taxes 26,075 25,981
Goodwill 91,851 91,914
Other intangible assets, net 23,829 28,308
Other assets 21,429 18,182
Total assets $1,192,415 $1,002,748
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt $ 6,640 $–
Short-term debt 20,818 –
Accounts payable 124,271 136,158
Accrued liabilities:
Warranty 71,080 72,177
Advertising and marketing programs 66,169 64,191
Compensation and benefit costs 59,724 53,500
Insurance 6,960 18,184
Income taxes 4,699 1,938
Other 40,059 42,697
Total current liabilities 400,420 388,845
Long-term debt, less current portion 347,316 223,544
Deferred revenue 10,947 10,899
Deferred income taxes – 5,969
Other long-term liabilities 25,005 14,753
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 175,000,000 shares; issued and outstanding 55,678,419
shares as of October 31, 2014 and 56,788,723 shares as of October 31, 2013 55,678 56,789
Retained earnings 368,754 314,519
Accumulated other comprehensive loss (15,705) (12,570)
Total stockholders’ equity 408,727 358,738
Total liabilities and stockholders’ equity $1,192,415 $1,002,748
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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