FLEETWOOD ENTERPRISES, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share data)
| April 27, 2008 |
April 29, 2007 |
||||||
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash and cash equivalents | $ | 58,262 | $ | 52,127 | |||
| Restricted cash (note 1) | 16,790 | — | |||||
| Marketable investments | 25,087 | 24,161 | |||||
| Receivables | 102,421 | 118,334 | |||||
| Inventories | 139,813 | 162,944 | |||||
| Deferred taxes | 10,374 | 11,758 | |||||
| Assets of discontinued operations | 22,021 | 31,408 | |||||
| Other current assets | 7,815 | 10,107 | |||||
| Total current assets | 382,583 | 410,839 | |||||
| Property, plant and equipment, net | 146,573 | 185,454 | |||||
| Deferred taxes | 46,348 | 42,577 | |||||
| Cash value of company-owned life insurance | 13,125 | 22,956 | |||||
| Other assets | 36,942 | 41,345 | |||||
| Total assets | $ | 625,571 | $ | 703,171 | |||
Liabilities And Shareholders' Equity |
|||||||
| Accounts payable | $ | 27,701 | $ | 49,625 | |||
| Employee compensation and benefits | 32,253 | 47,018 | |||||
| Product warranty reserves | 32,898 | 42,222 | |||||
| Insurance reserves | 12,508 | 18,629 | |||||
| Accrued interest | 5,232 | 7,526 | |||||
| Liabilities of discontinued operations | 21,037 | 29,486 | |||||
| Short-term borrowings | 9,568 | 7,314 | |||||
| 5% convertible senior subordinated debentures | 100,000 | — | |||||
| Other current liabilities | 33,690 | 44,826 | |||||
| Total current liabilities | 274,887 | 246,646 | |||||
| Deferred compensation and retirement benefits | 28,139 | 33,921 | |||||
| Product warranty reserves | 15,283 | 21,259 | |||||
| Insurance reserves | 34,838 | 34,560 | |||||
| 5% convertible senior subordinated debentures | — | 100,000 | |||||
| 6% convertible subordinated debentures | 160,142 | 160,142 | |||||
| Other long-term debt | 16,145 | 17,508 | |||||
| Other non-current liabilities | 9,869 | 3,128 | |||||
| Total liabilities | 539,303 | 617,164 | |||||
| Commitments and contingencies Shareholders' equity (note 2): Preferred stock, $1 par value, authorized 10,000,000 shares, none outstanding |
— | — | |||||
| Common stock, $1 par value, authorized 150,000,000 shares, outstanding 64,257,000 shares at April 27, 2008, and 64,111,000 at April 29, 2007 |
64,257 | 64,111 | |||||
| Additional paid-in capital | 499,042 | 493,174 | |||||
| Accumulated deficit | (476,207 | ) | (475,194 | ) | |||
| Accumulated other comprehensive income (loss) | (824 | ) | 3,916 | ||||
| 86,268 | 86,007 | ||||||
| Total liabilities and shareholders' equity | $ | 625,571 | $ | 703,171 | |||
See accompanying notes to consolidated financial statements.