EX-13.(A)(II) 5 c82240exv13wxayxiiy.txt CONSOLIDATED BALANCE SHEETS . . . EXHIBIT 13(a)(ii) CONSOLIDATED BALANCE SHEETS NOVEMBER 30, 2003 AND 2002 (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA)
ASSETS 2003 2002 --------------------------------------------------------------------------------------------------------- Current assets: Cash and short-term cash investments ............................... $ 8,348 $ 13,747 Accounts receivable, less allowance for losses of $9,106 for 2003 and $7,020 for 2002 ........................... 127,546 121,482 Inventories ........................................................ 99,673 101,846 Prepaid expenses and other current assets .......................... 5,880 5,576 Deferred income taxes .............................................. 15,955 17,095 --------------------------- Total current assets ........................................... 257,402 259,746 --------------------------- Plant assets, at cost less accumulated depreciation .................. 129,572 132,892 Acquired intangibles, less accumulated amortization .................. 122,351 122,529 Pension assets ....................................................... 20,153 21,771 Other noncurrent assets .............................................. 8,759 9,181 --------------------------- Total assets ................................................... $ 538,237 $ 546,119 =========================== LIABILITIES Current liabilities: Current portion of long-term debt .................................. $ 674 $ 68,456 Accounts payable and accrued liabilities ........................... 102,322 97,738 Income taxes ....................................................... 8,377 8,061 --------------------------- Total current liabilities ...................................... 111,373 174,255 --------------------------- Long-term debt, less current portion ................................. 16,913 22,648 Postretirement health care benefits .................................. 4,313 4,033 Long-term pension liabilities ........................................ 7,813 7,823 Deferred income taxes ................................................ 21,729 19,045 Other long-term liabilities .......................................... 4,026 2,318 Minority interests ................................................... 1,678 536 Contingencies SHAREHOLDERS' EQUITY Capital stock: Preferred, par value $1, authorized 5,000,000 shares, none issued ...................................................... - - Common, par value $1, authorized 60,000,000 shares, issued 25,309,127 in 2003 and 24,918,614 in 2002 ................. 25,309 24,919 Capital in excess of par value ..................................... 19,998 12,854 Accumulated other comprehensive earnings ........................... (936) (6,187) Retained earnings .................................................. 326,021 283,875 --------------------------- Total shareholders' equity ..................................... 370,392 315,461 --------------------------- Total liabilities and shareholders' equity ..................... $ 538,237 $ 546,119 ===========================
The accompanying notes are an integral part of the consolidated financial statements. 12 CLARCOR