WeightWatchers 2003 Annual Report Download - page 87
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Please find page 87 of the 2003 WeightWatchers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING BALANCE SHEET
AS OF JANUARY 3, 2004
(IN THOUSANDS)
Non-
Parent Guarantor Guarantor
Company Subsidiaries Subsidiaries Eliminations Consolidated
ASSETS
CURRENT ASSETS
Cash and cash equivalents ......... $ 2,170 $ 10,633 $10,639 $ — $ 23,442
Receivables, net ................. 4,474 12,219 1,852 — 18,545
Inventories, net ................. — 27,482 11,628 — 39,110
Prepaid expenses ................ 3,338 18,473 7,913 — 29,724
Deferred income taxes ............ (1,966) 5,770 — — 3,804
Intercompany (payables) receivables . . (177,601) 164,838 12,763 — —
TOTAL CURRENT ASSETS ..... (169,585) 239,415 44,795 — 114,625
Investment in consolidated subsidiaries . . 701,897 — — (701,897) —
Property and equipment, net ......... 1,317 12,324 2,106 — 15,747
Notes and other receivables .......... 222 — — — 222
Franchise rights acquired ............ 3,384 491,948 929 496,261
Goodwill ........................ 23,385 394 — — 23,779
Trademarks and other intangible assets . . 1,364 1,090 — — 2,454
Deferred income taxes .............. 38,495 72,136 (832) — 109,799
Deferred financing costs, net ......... 4,583 — — — 4,583
Other noncurrent assets ............. 463 1,240 515 — 2,218
TOTAL ASSETS .............. $605,525 $818,547 $47,513 $(701,897) $769,688
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Portion of long-term debt due within
one year ..................... $15,062 $ 492 $ — $ — $ 15,554
Accounts payable ................ 1,168 12,876 8,243 — 22,287
Salaries and wages ............... 6,967 7,874 5,958 — 20,799
Accrued interest ................. 2,152 206 — — 2,358
Other accrued liabilities ........... 8,084 21,359 2,578 — 32,021
Income taxes (receivable) payable .... (15,004) 39,546 82 — 24,624
Deferred revenue ................ — 14,662 1,865 — 16,527
TOTAL CURRENT LIABILITIES . 18,429 97,015 18,726 — 134,170
Long-term debt ................. 405,908 48,412 — — 454,320
Other ........................ — (18) 28 — 10
TOTAL LIABILITIES .......... 424,337 145,409 18,754 — 588,500
Shareholders’ equity .............. 181,188 673,138 28,759 (701,897) 181,188
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY . . . $605,525 $818,547 $47,513 $(701,897) $769,688
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