(in thousands, except share amounts) As of December 31, 1998 1997
 
 
ASSETS  
    Current Assets  
        Cash and cash equivalents $ 172,921 $ 110,793
        Trade and other receivables, net 36,532 22,628
        Inventories 31,834 37,274
        Prepaid expenses 45,044 40,450

            Total current assets 286,331 211,145
    Property and Equipment–at cost less accumulated depreciation and amortization 5,073,008 4,785,291
    Goodwill–less accumulated amortization of $107,365 and $96,952, respectively 309,801 320,214
    Other Assets 16,936 23,098

$ 5,686,076 $ 5,339,748

LIABILITIES  
    Current Liabilities  
        Current portion of long-term debt $ 127,919 $ 141,013
        Accounts payable 115,833 108,474
        Accrued liabilities 243,477 210,454
        Customer deposits 402,926 429,403

            Total current liabilities 890,155 889,344
    Long-Term Debt 2,341,163 2,431,683
    Commitments and Contingencies (Note 13)  
 
SHAREHOLDERS' EQUITY  
    Preferred stock $.01 par value; 20,000,000 shares authorized;
        cumulative convertible preferred shares issued and outstanding,
        3,450,000 shares stated at liquidation value)
172,500 172,500
    Common stock ($.01 par value; 500,000,000 shares authorized
       168,945,222 and 162,128,974 shares issued)
1,690 1,621
    Paid-in capital 1,361,796 1,188,304
    Retained earnings 923,691 660,655
    Treasury stock (354,492 and 314,148 common shares at cost) (4,919) (4,359)

            Total shareholders’ equity 2,454,758 2,018,721

$ 5,686,076 $ 5,339,748

The accompanying notes are an integral part of these financial statements.