BRINKER INTERNATIONAL, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share amounts)
| 2006 | 2005 | ||||||
|---|---|---|---|---|---|---|---|
| ASSETS Current Assets: Cash and cash equivalents |
$ | 55,615 | $ | 41,859 | |||
| Accounts receivable | 52,540 | 43,592 | |||||
| Inventories | 40,330 | 48,647 | |||||
| Prepaid expenses and other | 85,187 | 77,069 | |||||
| Deferred income taxes | 8,638 | 21,956 | |||||
| Current assets of discontinued operations | — | 79,842 | |||||
| Total current assets | 242,310 | 312,965 | |||||
| Property and Equipment, at Cost: Land |
279,369 | 284,885 | |||||
| Buildings and leasehold improvements | 1,715,917 | 1,507,587 | |||||
| Furniture and equipment | 745,812 | 697,352 | |||||
| Construction-in-progress | 94,734 | 81,622 | |||||
| 2,835,832 | 2,571,446 | ||||||
| Less accumulated depreciation and amortization | (1,043,108 | ) | (924,980 | ) | |||
| Net property and equipment | 1,792,724 | 1,646,466 | |||||
| Other Assets: Goodwill |
145,479 | 124,749 | |||||
| Other | 41,266 | 71,944 | |||||
| Total other assets | 186,745 | 196,693 | |||||
| Total assets | $ | 2,221,779 | $ | 2,156,124 | |||
| LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Current installments of long-term debt |
$ | 2,197 | $ | 1,805 | |||
| Accounts payable | 151,216 | 133,096 | |||||
| Accrued liabilities | 314,509 | 261,924 | |||||
| Income taxes payable | 29,453 | 22,739 | |||||
| Current liabilities of discontinued operations | — | 10,400 | |||||
| Total current liabilities | 497,375 | 429,964 | |||||
| Long-term debt, less current installments | 500,515 | 406,505 | |||||
| Deferred income taxes | 7,016 | 56,189 | |||||
| Other liabilities | 141,041 | 163,184 | |||||
| Commitments and Contingencies (Notes 9 and 13) Shareholders' Equity: Common stock—250,000,000 authorized shares; $.10 par value; 117,499,541 shares issued and 83,539,647 shares outstanding at June 28, 2006, and 117,499,541 shares issued and 89,182,804 shares outstanding at June 29, 2005 |
11,750 | 11,750 | |||||
| Additional paid-in capital | 406,626 | 369,813 | |||||
| Accumulated other comprehensive income | 773 | 700 | |||||
| Retained earnings | 1,608,661 | 1,421,866 | |||||
| 2,027,810 | 1,804,129 | ||||||
| Less treasury stock, at cost (33,959,894 shares at June 28, 2006 and 28,316,737 shares at June 29, 2005) |
(951,978 | ) | (703,847 | ) | |||
| Total shareholders' equity | 1,075,832 | 1,100,282 | |||||
| Total liabilities and shareholders' equity | $ | 2,221,779 | $ | 2,156,124 | |||
See accompanying notes to consolidated financial statements.