Home » Financials » 2003 Annual Report
Consolidated Balance Sheets
As of November 30 | |||||||
| (Dollars in thousands, except per share data) | 2003 | 2002 | |||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ 20,390 | $10,360 | |||||
| Receivables, less allowances of $8,168 in 2003 and $6,652 in 2002 |
155,629 | 131,283 | |||||
| Inventories | 91,371 | 88,020 | |||||
| Deferred income taxes | 19,241 | 16,528 | |||||
| Prepaid expenses and other current assets | 8,882 | 6,671 | |||||
| Total current assets | 295,513 | 252,862 | |||||
| Investments in joint ventures | |||||||
| Equity method |
13,064 |
12,940 | |||||
| Cost method | 5,479 |
5,987 | |||||
| Property, plant and equipment | |||||||
| Land | 37,787 | 35,730 | |||||
| Buildings | 84,426 | 75,147 | |||||
| Machinery and equipment | 283,123 | 267,607 | |||||
| Construction in progress | 6,169 | 4,400 | |||||
| Total property, plant and equipment at cost | 411,505 | 382,884 | |||||
| Accumulated depreciation | (260,919) | (237,642) | |||||
| Total property, plant and equipment, net | 150,586 | 145,242 | |||||
| Deferred income taxes | 6,744 | — | |||||
| Intangible assets, net of accumulated amortization of $9,738 in 2003 and $8,551 in 2002 |
13,526 | 13,013 | |||||
| Other assets | 48,580 | 32,898 | |||||
| Total assets | $533,492 | $462,942 | |||||
| As of November 30 | |||||||
| 2003 | 2002 | ||||||
| Liabilities and Stockholders Equity | |||||||
| Current liabilities | |||||||
| Short-term borrowings | $ — | $1,009 | |||||
| Current portion of long-term debt | 8,333 | 8,333 | |||||
| Trade payables | 47,512 | 46,295 | |||||
| Accrued liabilities | 53,091 | 45,994 | |||||
| Income taxes | 9,568 | 2,026 | |||||
| Total current liabilities | 118,504 | 103,657 | |||||
| Long-term debt, less current portion | 86,044 | 102,823 | |||||
| Other long-term liabilities | 72,832 | 44,636 | |||||
| Total liabilities | 277,380 | 251,116 | |||||
| Commitments and Contingencies | |||||||
| Stockholders' equity | |||||||
| Common stock, par value $2.50 a share, authorized 12,000,000 shares, outstanding 8,214,563 shares in 2003 and 3,945,662 shares in 2002, net of treasury shares |
27,186 | 13,198 | |||||
| Additional paid-in capital | 16,443 | 23,950 | |||||
| Unearned restricted stock | (1,481) | (2,164) | |||||
| Retained earnings | 294,255 | 270,449 | |||||
| Accumulated other comprehensive loss | (31,768) | (44,948) | |||||
| Treasury stock (2,659,810 shares in 2003 and 1,333,655 in 2002) | (48,523) | (48,659) | |||||
| Total stockholders' equity | 256,112 | 211,826 | |||||
| Total liabilities and stockholders' equity | $ 533,492 | $462,942 | |||||
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