Interactive 2009 Annual Report (PDF 7.56 MB) - Denbury Resources ...

70 Denbury Resources Inc. 2009 Annual ReportConsolidated Balance SheetsDecember 31,In thousands, except shares 2009 2008AssetsCurrent assetsCash and cash equivalents $ 20,591 $ 17,069Accrued production receivable 120,667 67,805Trade and other receivables, net of allowance of $414 and $377 67,874 80,579Derivative assets 309 249,746Current deferred tax assets 46,321 —Total current assets 255,762 415,199Property and equipmentOil and natural gas properties (using full cost accounting)Proved 3,595,726 3,386,606Unevaluated 320,356 235,403CO 2 properties, equipment and pipelines 1,529,781 899,542Other 82,537 70,328Less accumulated depletion, depreciation and impairment (1,825,528) (1,589,682)Net property and equipment 3,702,872 3,002,197Deposits on property under option or contract — 48,917Other assets 66,810 43,357Goodwill 169,517 —Investment in Genesis 75,017 80,004Total assets $ 4,269,978 $ 3,589,674Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payable and accrued liabilities $ 169,874 $ 202,633Oil and gas production payable 90,218 85,833Derivative liabilities 124,320 —Deferred revenue – Genesis 4,070 4,070Deferred tax liability — 89,024Current maturities of long-term debt 5,308 4,507Total current liabilities 393,790 386,067Long-term liabilitiesLong-term debt – Genesis 249,762 251,047Long-term debt 1,051,306 601,720Asset retirement obligations 53,251 43,352Deferred revenue – Genesis 15,749 19,957Deferred tax liability 515,516 433,210Derivative liabilities 5,239 —Other 13,128 14,253Total long-term liabilities 1,903,951 1,363,539Commitments and contingencies (Note 12)Stockholders’ equityPreferred stock, $.001 par value, 25,000,000 shares authorized, none issued and outstanding — —Common stock, $.001 par value, 600,000,000 shares authorized; 261,929,292 and248,005,874 shares issued at December 31, 2009 and 2008, respectively 262 248Paid-in capital in excess of par 910,540 707,702Retained earnings 1,064,419 1,139,575Accumulated other comprehensive loss (557) (627)Treasury stock, at cost, 156,284 and 446,287 shares at December 31, 2009and 2008, respectively (2,427) (6,830)Total stockholders’ equity 1,972,237 1,840,068Total liabilities and stockholders’ equity $ 4,269,978 $ 3,589,674See accompanying Notes to Consolidated Financial Statements.Form 10-K Part II