: EarthWear Clothiers - McGraw-Hill Ryerson
: EarthWear Clothiers - McGraw-Hill Ryerson
: EarthWear Clothiers - McGraw-Hill Ryerson
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8<br />
EARTHWEAR CLOTHIERS<br />
Consolidated Balance Sheets<br />
(In thousands)<br />
December 31<br />
Assets 2002 2001<br />
Current assets:<br />
Cash and cash equivalents $ 49,668 $ 4,317<br />
Receivables, net 11,539 13,704<br />
Inventory 105,425 142,796<br />
Prepaid advertising 10,772 13,882<br />
Other prepaid expenses 3,780 4,933<br />
Future income tax benefits 6,930 11,666<br />
Total current assets<br />
Property, plant and equipment, at cost<br />
188,115 191,297<br />
Land and buildings 66,804 66,312<br />
Fixtures and equipment 114,342 100,531<br />
Leasehold improvements 2,894 3,559<br />
Total property, plant and equipment 184,040 170,401<br />
Less accumulated depreciation and amortization 76,256 66,021<br />
Property, plant and equipment, net 107,784 104,381<br />
Intangibles, net 628 670<br />
Total assets $296,527 $296,347<br />
Liabilities and shareholder’s investment<br />
Current liabilities:<br />
Lines of credit $ 7,621 $ 25,312<br />
Accounts payable 48,432 57,149<br />
Reserve for returns 5,115 4,675<br />
Accrued liabilities 28,440 35,355<br />
Accrued profit sharing 1,794 1,466<br />
Income taxes payable 6,666 9,476<br />
Total current liabilities 98,067 133,434<br />
Future income taxes<br />
Shareholders’ investment:<br />
5,926 5,286<br />
Common stock, 26,121 shares issued (2001 – 24,875 shares) 19,572 17,802<br />
Donated capital 5,460 5,460<br />
Future compensation (153) (256)<br />
Accumulated other comprehensive income 1,739 1,302<br />
Retained earnings 295,380 264,157<br />
Treasury stock, 6,546 and 6,706 shares at cost, respectively (129,462) (130,844)<br />
Total shareholders’ investment 192,535 157,627<br />
Total liabilities and shareholders’ investment $296,527 $296,347
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