World Fuel Services 2013 Annual Report Download - page 48

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WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
As of December 31,
2013 2012
Assets:
Current assets:
Cash and cash equivalents $ 292,061 $ 172,740
Accounts receivable, net 2,538,642 2,193,866
Inventories 655,046 572,313
Prepaid expenses 120,205 158,909
Other current assets 209,547 183,549
Total current assets 3,815,501 3,281,377
Property and equipment, net 129,685 112,525
Goodwill 483,591 470,506
Identifiable intangible and other non-current assets 310,500 243,343
Total assets $4,739,277 $4,107,751
Liabilities:
Current liabilities:
Short-term debt $ 14,647 $ 26,065
Accounts payable 2,210,427 1,814,794
Accrued expenses and other current liabilities 289,441 308,439
Total current liabilities 2,514,515 2,149,298
Long-term debt 449,064 354,253
Non-current income tax liabilities, net 82,532 50,879
Other long-term liabilities 14,272 11,697
Total liabilities 3,060,383 2,566,127
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 71,883 and 72,147
issued and outstanding as of December 31, 2013 and 2012, respectively 719 721
Capital in excess of par value 495,199 517,589
Retained earnings 1,207,299 1,014,882
Accumulated other comprehensive loss (29,319) (16,018)
Total World Fuel shareholders’ equity 1,673,898 1,517,174
Noncontrolling interest equity 4,996 24,450
Total equity 1,678,894 1,541,624
Total liabilities and equity $4,739,277 $4,107,751
The accompanying notes are an integral part of these consolidated financial statements.
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