2007 Annual Report - Ameristar Casinos, Inc.

AMERISTAR CASINOS, INC.CONSOLIDATED BALANCE SHEETS(Amounts in Thousands, Except Share Data)December 31,2007 2006ASSETSCurrent Assets:Cash and cash equivalents ......................................................................................... $ 98,498 $ 101,140Restricted cash........................................................................................................... 6,425 6,425Accounts receivable, net............................................................................................ 8,112 7,325Income tax refunds receivable ................................................................................... 13,539 2,164Inventories ................................................................................................................. 7,429 7,241Prepaid expenses........................................................................................................ 12,501 11,689Deferred income taxes ............................................................................................... 5,463 3,508Total current assets ............................................................................................ 151,967 139,492Property and Equipment, at cost:Buildings and improvements ..................................................................................... 1,296,474 1,090,777Furniture, fixtures and equipment.............................................................................. 466,977 404,7091,763,451 1,495,486Less: accumulated depreciation and amortization ............................................. (568,354) (477,780)1,195,097 1,017,706Land........................................................................................................................... 83,190 81,481Construction in progress ............................................................................................ 360,675 186,507Total property and equipment, net..................................................................... 1,638,962 1,285,694Goodwill and other intangible assets............................................................................. 570,682 76,988Deposits and other assets............................................................................................... 50,485 39,301TOTAL ASSETS ................................................................................................. $ 2,412,096 $ 1,541,475LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent Liabilities:Accounts payable....................................................................................................... $ 21,009 $ 14,443Construction contracts payable.................................................................................. 31,239 25,657Accrued liabilities...................................................................................................... 93,841 71,462Current maturities of long-term debt ......................................................................... 4,337 4,344Total current liabilities....................................................................................... 150,426 115,906Long-term debt, net of current maturities...................................................................... 1,641,615 878,668Deferred income taxes................................................................................................... 75,172 91,528Deferred compensation and other long-term liabilities.................................................. 41,757 21,209Commitments and contingencies (Note 12)Stockholders’ Equity:Preferred stock, $.01 par value: Authorized - 30,000,000 shares;Issued - none ..................................................................................................... — —Common stock, $.01 par value: Authorized - 120,000,000 shares;Issued - 57,946,167 and 56,935,403 shares; Outstanding — 57,158,931 and56,524,567 shares ............................................................................................ 579 569Additional paid-in capital .......................................................................................... 234,983 199,951Treasury stock, at cost (787,236 and 410,836 shares) ............................................... (17,674) (8,014)Retained earnings....................................................................................................... 285,238 241,658Total stockholders’ equity ................................................................................. 503,126 434,164TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY.......................... $ 2,412,096 $ 1,541,475The accompanying notes are an integral part of these consolidated financial statements.F-4