| (In thousands, except per share data) As of December 31, |
||||||
aSSetS |
2007 | 2006 | ||||
| Current assets: Cash and cash equivalents |
$ | 338,885 | $ | 348,592 | ||
| Available-for-sale securities | 115,842 | 124,767 | ||||
| Receivables, net of allowance for doubtful accounts of $28,023 and $29,033 |
911,780 | 764,995 | ||||
| Deferred tax asset | 7,184 | 7,614 | ||||
| Prepaid expenses and other | 15,465 | 10,180 | ||||
| Total current assets | 1,389,156 | 1,256,148 | ||||
| Property and equipment | 179,688 | 145,262 | ||||
| Accumulated depreciation and amortization | (78,023 | ) | (63,191 | ) | ||
| Net property and equipment | 101,665 | 82,071 | ||||
| Goodwill | 278,739 | 261,766 | ||||
| Other intangible assets, net of accumulated amortization of $14,741 and $9,086 |
14,470 | 15,957 | ||||
| Deferred tax asset | 16,013 | 6,668 | ||||
| Other assets | 11,264 | 9,083 | ||||
| Total assets | $ | 1,811,307 | $ | 1,631,693 | ||
liaBilitieS and StockholderS’ inveStment |
||||||
| Current liabilities: Accounts payable |
$ | 530,752 | $ | 468,499 | ||
| Outstanding checks | 87,443 | 71,630 | ||||
| Accrued expenses – Compensation and profit-sharing contribution |
101,926 | 98,408 | ||||
| Income taxes and other | 37,498 | 48,412 | ||||
| Total current liabilities | 757,619 | 686,949 | ||||
| Noncurrent income taxes payable | 10,223 | – | ||||
| Nonqualified deferred compensation obligation | 1,216 | 1,022 | ||||
| Total liabilities | 769,058 | 687,971 | ||||
| Commitments and contingencies Stockholders’ investment: Preferred stock, $.10 par value, 20,000 shares authorized; no shares issued or outstanding |
– | – | ||||
| Common stock, $.10 par value, 480,000 shares authorized; 174,221 and 174,161 shares issued, 170,822 and 172,656 outstanding |
17,082 | 17,266 | ||||
| Additional paid-in capital | 190,320 | 184,462 | ||||
| Retained earnings | 1,002,964 | 807,983 | ||||
| Accumulated other comprehensive income (loss) | 263 | (202 | ) | |||
| Treasury stock at cost (3,384 and 1,504 shares) | (168,380 | ) | (65,787 | ) | ||
| Total stockholders’ investment | 1,042,249 | 943,722 | ||||
| Total liabilities and stockholders’ investment | $ | 1,811,307 | $ | 1,631,693 | ||
The accompanying notes are an integral part of these consolidated financial statements.
