Under Armour 2005 Annual Report Download - page 44

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Under Armour, Inc. and Subsidiaries
Consolidated Balance Sheets
(in thousands, except share data)
December 31,
2005 2004
Assets
Current assets
Cash and cash equivalents ........................................................ $ 62,977 $ 1,085
Accounts receivable, net of allowance for doubtful accounts of $521 and $933, respectively .... 53,132 38,506
Inventories .................................................................... 53,607 48,055
Prepaid expenses and other current assets ............................................ 5,252 2,370
Deferred income taxes ........................................................... 6,822 6,447
Total current assets .......................................................... 181,790 96,463
Property and equipment, net ........................................................... 20,865 14,211
Other non-current assets .............................................................. 1,032 303
Total assets ................................................................ $203,687 $110,977
Liabilities, Mandatorily Redeemable Securities and Stockholders’ Equity
Current liabilities
Revolving credit facility .......................................................... $ — $ 38,748
Accounts payable ............................................................... 31,699 20,620
Accrued expenses ............................................................... 11,449 14,526
Income taxes payable ............................................................ 716 2,282
Current maturities of long term debt ................................................ 1,967 650
Current maturities of capital lease obligations ......................................... 1,841 2,947
Total current liabilities ....................................................... 47,672 79,773
Long term debt, net of current maturities ................................................. 2,868 100
Capital lease obligations, net of current maturities ......................................... 1,715 2,688
Deferred income taxes ............................................................... 330 289
Other long term liabilities ............................................................. 272 198
Total liabilities ............................................................. 52,857 83,048
Commitments and contingencies (see Note 7)
Mandatorily Redeemable Series A Preferred Stock, no shares authorized, issued and outstanding as of
December 31, 2005; nonvoting, no par, 2,000,000 shares authorized and 1,200,000 shares
outstanding as of December 31, 2004, liquidation preference of $13,524 as of December 31,
2004 ........................................................................... — 6,692
Stockholders’ equity and comprehensive loss
Class A Common Stock, $.0003 1/3 par value; 100,000,000 shares authorized, 31,223,351 shares
issued and outstanding as of December 31, 2005; 56,375,835 shares authorized, 31,890,000
shares issued and outstanding as of December 31, 2004. ............................... 10 11
Class B Convertible Common Stock, $.0003 1/3 par value; 16,200,000 shares authorized,
15,200,000 shares issued and outstanding as of December 31, 2005; no shares authorized,
issued and outstanding as of December 31, 2004. .................................... 5 —
Convertible Common Stock held by the Rosewood entities, no shares authorized, issued, and
outstanding as of December 31, 2005; $.001 par value; 1,208,055 shares authorized, issued
and outstanding as of December 31, 2004. .......................................... — 1
Additional paid-in capital ......................................................... 124,803 7,733
Retained earnings ............................................................... 28,067 13,655
Unearned compensation .......................................................... (1,889) —
Notes receivable from stockholders ................................................. (163) (118)
Accumulated other comprehensive loss .............................................. (3) (45)
Total stockholders’ equity .................................................... 150,830 21,237
Total liabilities, mandatorily redeemable securities and stockholders’ equity ............. $203,687 $110,977
See accompanying notes.
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