World Fuel Services 2012 Annual Report Download - page 64

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
As of December 31,
2011
Assets:
Current assets:
Cash and cash equivalents $ 172,740 $ 205,415
Accounts receivable, net 2,193,866 2,160,561
Inventories 572,313 472,584
Prepaid expenses 158,909 109,297
Other current assets 183,549 174,370
Total current assets 3,281,377 3,122,227
Property and equipment, net 112,525 90,710
Goodwill 470,506 346,246
Identifiable intangible assets, net 172,273 107,620
Non-current other assets 71,070 30,443
Total assets $4,107,751 $3,697,246
Liabilities:
Current liabilities:
Short-term debt $ 26,065 $ 17,800
Accounts payable 1,814,794 1,739,678
Customer deposits 96,951 105,554
Accrued expenses and other current liabilities 211,488 163,110
Total current liabilities 2,149,298 2,026,142
Long-term debt 354,253 269,348
Non-current income tax liabilities, net 50,879 47,703
Other long-term liabilities 11,697 7,335
Total liabilities 2,566,127 2,350,528
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 72,147 and 71,154
issued and outstanding as of December 31, 2012 and 2011, respectively 721 712
Capital in excess of par value 517,589 502,551
Retained earnings 1,014,882 836,222
Accumulated other comprehensive loss (16,018) (6,524)
Total World Fuel shareholders’ equity 1,517,174 1,332,961
Noncontrolling interest equity 24,450 13,757
Total equity 1,541,624 1,346,718
Total liabilities and equity $4,107,751 $3,697,246
The accompanying notes are an integral part of these consolidated financial statements.
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2012