Balance Sheets
Kelly Services. Inc. and Subsidiaries
| ASSETS |
1999 |
1998 |
1997 |
(In thousands of dollars) |
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| Current Assets | |||
| Cash and equivalents | $54,032 | $59,799 | $76,690 |
| Short-term investments | 6,018 | 12,069 | 67,301 |
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Accounts receivable, less allowances of $13,575, $13,035, and $12,375, respectively |
602,485 | 584,653 | 572,134 |
| Prepaid expenses and other current assets | 22,801 | 15,012 | 12,892 |
| Deferred taxes | 50,832 | 48,343 | 41,955 |
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| Total current assets | 736,168 | 719,876 | 770,972 |
| Property and Equipment | |||
| Land and buildings | 49,458 | 44,135 | 44,405 |
| Equipment, furniture and leasehold improvements | 231,654 | 179,707 | 130,472 |
| Accumulated depreciation | (94,112) | (77,491) | (62,144) |
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| Total property and equipment | 187,000 | 146,351 | 112,733 |
| Intangibles and Other Assets | 110,523 | 98,020 | 83,524 |
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| Total Assets | $1,033,691 | $964,247 | $967,229 |
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
1999 |
1998 |
1997 |
(In thousands of dollars) |
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| Current Liabilities | |||
| Short-term borrowings | $47,210 | $47,629 | $54,958 |
| Accounts payable | 73,516 | 79,089 | 60,408 |
| Payroll and related taxes | 215,706 | 195,670 | 197,092 |
| Accrued insurance | 65,881 | 66,830 | 61,077 |
| Income and other taxes | 49,005 | 37,265 | 33,865 |
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| Total current liabilities | 451,318 | 426,483 | 407,400 |
| Stockholders’ Equity | |||
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Capital stock, $1.00 par value Class A common stock, shares issued 36,602,210 in 1999, 36,540,770 in 1998 and 36,537,584 in 1997 |
36,602 | 36,541 | 36,538 |
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Class B common stock, shares issued 3,513,656 in 1999, 3,575,096 in 1998 and 3,578,282 in 1997 |
3,514 | 3,575 | 3,578 |
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Treasury stock, at cost Class A common stock, 4,234,524 shares in 1999, 4,301,321 in 1998 and 1,947,156 in 1997 |
(80,538) | (81,669) | (6,029) |
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Class B common stock, 7,767 shares in 1999 and 1998 and 5,830 in 1997 |
(248) | (248) | (185) |
| Paid-in capital | 15,761 | 14,844 | 10,980 |
| Earnings invested in the business | 623,564 | 572,517 | 522,039 |
| Accumulated foreign currency adjustments | (16,282) | (7,796) | (7,092) |
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| Total stockholders’ equity | 582,373 | 537,764 | 559,829 |
| Total Liabilities and Stockholders’ Equity | $1,033,691 | $964,247 | $967,229 |
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