Consolidated Balance Sheets
|
 |
|
|
|
|
December 31, |
| (In thousands, except share data) (Note 1) |
2001 |
|
2000 |
|
Assets
|
| CURRENT ASSETS: |
|
Cash and cash equivalents |
$ 64,244 |
|
$ 8,900 |
|
Receivables, net of allowances for doubtful accounts, returns, and |
|
|
|
|
|
discounts of $4,250 and $3,332 in 2001 and 2000, respectively |
86,297 |
|
93,145 |
|
Inventories |
101,823 |
|
111,560 |
|
Refundable income taxes |
17,949 |
|
3,913 |
|
Other current assets |
16,456 |
|
9,438 |
|
|
|
|
Total current assets |
286,769 |
|
226,956 |
|
| PROPERTY, PLANT AND EQUIPMENT: |
|
Land |
|
12,620 |
|
12,663 |
|
Buildings and improvements |
135,727 |
|
127,816 |
|
Machinery and equipment |
625,691 |
|
620,418 |
|
Furniture and fixtures |
14,326 |
|
12,164 |
|
|
|
|
|
788,364 |
|
773,061 |
|
Less accumulated depreciation |
(337,988) |
|
(289,752) |
|
|
|
|
Property, plant and equipment, net |
450,376 |
|
483,309 |
|
| GOODWILL, net of accumulated amortization of $20,481 and $16,023 |
|
|
|
|
in 2001 and 2000, respectively |
146,465 |
|
150,894 |
|
| INVESTMENT IN UNCONSOLIDATED AFFILIATES |
62,285 |
|
65,895 |
|
| OTHER ASSETS |
15,086 |
|
7,043 |
|
|
|
|
|
$ 960,981 |
|
$ 934,097 |
|
Liabilities and Shareholders' Equity
|
| CURRENT LIABILITIES: |
|
Current maturities of debt (Note 5) |
$ 48 |
|
$ 1,259 |
|
Accounts payable |
52,133 |
|
63,752 |
|
Accrued liabilities |
37,749 |
|
56,531 |
|
Dividends payable |
833 |
|
4,702 |
|
|
|
|
Total current liabilities |
90,763 |
|
126,244 |
|
| SENIOR CREDIT FACILITY (Note 5) |
-- |
|
194,000 |
|
| OTHER LONG-TERM DEBT, less current maturities (Note 5) |
508,691 |
|
272,813 |
|
| DEFERRED INCOME TAXES |
66,760 |
|
50,949 |
|
| DEFERRED COMPENSATION |
1,741 |
|
2,315 |
|
| OTHER LIABILITIES |
12,512 |
|
6,853 |
|
| MINORITY INTEREST |
935 |
|
1,115 |
|
| COMMITMENTS AND CONTINGENCIES (Note 6) |
SHAREHOLDERS' EQUITY: |
|
Preferred stock, $.10 par value; 5,000,000 shares authorized, no shares |
|
|
|
|
|
issued in 2001 and 2000 |
-- |
|
-- |
|
Common stock, $.10 par value; 60,000,000 shares authorized, 27,853,897 and |
|
|
|
|
|
26,204,567 shares issued and outstanding at December 31, 2001 and |
|
|
|
|
|
2000, respectively |
2,785 |
|
2,620 |
|
Additional paid-in capital |
180,116 |
|
160,824 |
|
Retained earnings |
97,488 |
|
117,117 |
|
Accumulated other comprehensive loss |
(810) |
|
(753) |
|
|
|
|
|
279,579 |
|
279,808 |
|
|
|
|
|
$ 960,981 |
|
$ 934,097 |
|
| The accompanying notes are an integral part of these consolidated balance sheets. |
|
24
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Caraustar Industries, Inc.
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