True Value 2009 Annual Report Download - page 27

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12 True Value Company
Consolidated Balance Sheet
January 2, January 3,
2010 2009
ASSETS
Current assets:
Cash and cash equivalents $ 25,694 $ 6,026
Accounts and notes receivable, net of allowance for doubtful accounts
of $6,143 and $2,434 191,972 202,055
Inventories, net of valuation reserves of $18,040 and $17,652 271,460 303,802
Prepaid expenses 10,434 9,052
Total current assets 499,560 520,935
Long-term assets:
Properties, net 63,390 69,002
Goodwill 91,474 91,474
Other assets 12,421 7,799
Total assets $ 666,845 $ 689,210
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities:
Accounts payable $ 185,326 $ 192,364
Drafts payable 31,960 39,700
Accrued expenses 53,621 55,398
Current maturities of long-term debt, notes and capital lease obligations 30,421 29,327
Patronage dividend payable in cash 23,520 17,509
Total current liabilities 324,848 334,298
Long-term liabilities and deferred credits:
Long-term debt including notes and capital lease obligations, less current maturities 91,064 111,884
Deferred gain on sale leaseback 33,338 36,117
Pension 18,402 24,627
Other long-term liabilities 24,814 23,335
Redeemable nonqualified Class B nonvoting common stock, $100 par value;
170,621 and 177,602 shares issued and fully paid 17,062 17,760
Total long-term liabilities and deferred credits 184,680 213,723
Total liabilities and deferred credits 509,528 548,021
Members’ equity:
Redeemable Class A voting common stock, $100 par value; 750,000 shares authorized;
271,260 and 284,520 shares issued and fully paid 27,126 28,452
Redeemable qualified Class B nonvoting common stock and paid-in capital, $100 par
value; 4,000,000 shares authorized; 1,855,963 and 1,793,984 shares issued and fully paid 186,895 180,697
Loss allocation (3,088) (3,834)
Deferred patronage (20,560) (21,307)
Accumulated deficit (7,932) (15,899)
Accumulated other comprehensive loss (25,124) (26,920)
Total members’ equity 157,317 141,189
Total liabilities and members’ equity $ 666,845 $ 689,210
The accompanying notes are an integral part of the Consolidated Financial Statements.
($ in thousands, except per share information)