World Fuel Services 2011 Annual Report Download - page 67

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
As of December 31,
2010
Assets:
Current assets:
Cash and cash equivalents $ 205,415 $ 272,893
Accounts receivable, net 2,160,561 1,386,700
Inventories 472,584 211,526
Prepaid expenses 109,297 96,461
Other current assets 174,370 100,287
Total current assets 3,122,227 2,067,867
Property and equipment, net 90,710 64,106
Goodwill 346,246 287,434
Identifiable intangible assets, net 107,620 117,726
Non-current other assets 30,443 29,317
Total assets $3,697,246 $2,566,450
Liabilities and equity:
Liabilities:
Current liabilities:
Short-term debt $ 17,800 $ 17,076
Accounts payable 1,739,678 1,131,228
Customer deposits 105,554 65,480
Accrued expenses and other current liabilities 163,110 144,700
Total current liabilities 2,026,142 1,358,484
Long-term debt 269,348 24,566
Non-current income tax liabilities, net 47,703 45,328
Other long-term liabilities 7,335 11,508
Total liabilities 2,350,528 1,439,886
Commitments and contingencies
Equity:
World Fuel shareholders’ equity:
Preferred stock, $1.00 par value; shares of 100 authorized, none issued — —
Common stock, $0.01 par value; shares of 100,000 authorized, shares of 71,154 and
69,602 issued and outstanding as of December 31, 2011 and 2010, respectively 712 696
Capital in excess of par value 502,551 468,963
Retained earnings 836,222 652,796
Accumulated other comprehensive (loss) income (6,524) 4,753
Total World Fuel shareholders’ equity 1,332,961 1,127,208
Noncontrolling interest equity (deficit) 13,757 (644)
Total equity 1,346,718 1,126,564
Total liabilities and equity $3,697,246 $2,566,450
The accompanying notes are an integral part of these consolidated financial statements.
43
2011