2008 Annual Report - Hubbell Wiring Device-Kellems
2008 Annual Report - Hubbell Wiring Device-Kellems
2008 Annual Report - Hubbell Wiring Device-Kellems
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HUBBELL INCORPORATED AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETAt December 31,<strong>2008</strong> 2007(Dollars in millions)ASSETSCurrent AssetsCash and cash equivalents .............................................. $ 178.2 $ 77.5Accounts receivable, net ............................................... 357.0 332.4Inventories, net ...................................................... 335.2 322.9Deferred taxes and other ............................................... 48.7 55.2Total current assets ................................................ 919.1 788.0Property, Plant, and Equipment, net ..................................... 349.1 327.1Other AssetsInvestments ......................................................... 35.1 39.2Goodwill ........................................................... 584.6 466.6Intangible assets and other .............................................. 227.6 242.5Total Assets ..................................................... $2,115.5 $1,863.4LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent LiabilitiesShort-term debt ...................................................... $ — $ 36.7Accounts payable .................................................... 168.3 154.0Accrued salaries, wages and employee benefits. .............................. 61.5 58.6Accrued insurance .................................................... 46.3 46.7Dividends payable .................................................... 19.7 19.2Other accrued liabilities ................................................ 129.2 104.3Total current liabilities ............................................. 425.0 419.5Long-term debt ..................................................... 497.4 199.4Other Non-Current Liabilities .......................................... 185.0 161.9Total Liabilities .................................................. 1,107.4 780.8Commitments and ContingenciesCommon Shareholders’ EquityCommon Stock, par value $.01Class A — authorized 50,000,000 shares, outstanding 7,165,075 and7,378,408 shares. ................................................. 0.1 0.1Class B — authorized 150,000,000 shares, outstanding 49,102,167 and50,549,566 shares ................................................. 0.5 0.5Additional paid-in capital. .............................................. 16.3 93.3Retained earnings .................................................... 1,108.0 962.7Accumulated other comprehensive (loss) income ............................. (116.8) 26.0Total Common Shareholders’ Equity ...................................... 1,008.1 1,082.6Total Liabilities and Shareholders’ Equity ............................... $2,115.5 $1,863.4See notes to consolidated financial statements.39