|
CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
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|
Assets
|
December 31,
|
|
2011
|
2010
|
|
CURRENT ASSETS:
|
|
|
|
Cash and cash equivalents
|
$78,612
|
$115,976
|
|
Investments
|
10,895
|
7,996
|
|
Accounts receivable trade, less allowances of $1,731 and $1,531
|
41,895
|
37,394
|
|
Other receivables
|
3,391
|
9,961
|
|
Inventories:
|
|
|
|
Finished goods and work-in-process
|
42,676
|
35,416
|
|
Raw materials and supplies
|
29,084
|
21,236
|
|
Prepaid expenses
|
5,070
|
6,499
|
|
Deferred income taxes
|
578
|
689
|
|
Total current assets
|
212,201
|
235,167
|
|
PROPERTY, PLANT AND EQUIPMENT, at cost:
|
|
|
|
Land
|
21,939
|
21,696
|
|
Buildings
|
107,567
|
102,934
|
|
Machinery and equipment
|
322,993
|
307,178
|
|
Construction in progress
|
2,598
|
9,243
|
|
455,097
|
440,974
|
|
Less-Accumulated depreciation
|
242,935
|
225,482
|
|
Net property, plant and equipment
|
212,162
|
215,492
|
|
OTHER ASSETS:
|
|
|
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Goodwill
|
73,237
|
73,237
|
|
Trademarks
|
175,024
|
175,024
|
|
Investments
|
96,161
|
64,461
|
|
Split dollar officer life insurance
|
74,209
|
74,441
|
|
Prepaid expenses
|
3,212
|
6,680
|
|
Equity method investment
|
3,935
|
4,254
|
|
Deferred income taxes
|
7,715
|
9,203
|
|
Total other assets
|
433,493
|
407,300
|
|
Total assets
|
$857,856
|
$857,959
|
|
Liabilities and Shareholders' Equity
|
December 31,
|
|
2011
|
2010
|
|
CURRENT LIABILITIES:
|
|
|
|
Accounts payable
|
$10,683
|
$9,791
|
|
Dividends payable
|
4,603
|
4,529
|
|
Accrued liabilities
|
43,069
|
44,185
|
|
Total current liabilities
|
58,355
|
58,505
|
|
NONCURRENT LIABILITES:
|
|
|
|
Deferred income taxes
|
43,521
|
47,865
|
|
Postretirement health care and life insurance benefits
|
26,108
|
20,689
|
|
Industrial development bonds
|
7,500
|
7,500
|
|
Liability for uncertain tax positions
|
8,345
|
9,835
|
|
Deferred compensation and other liabilities
|
48,092
|
46,157
|
|
Total noncurrent liabilities
|
133,566
|
132,046
|
|
SHAREHOLDERS' EQUITY:
|
|
|
|
Common stock, $.69-4/9 par value-120,000 shares authorized-36,479 and 36,057 respectively, issued
|
25,333
|
25,040
|
|
Class B common stock, $.69-4/9 par value-40,000 shares authorized-21,025 and 20,466 respectively, issued
|
14,601
|
14,212
|
|
Capital in excess of par value
|
533,677
|
505,495
|
|
Retained earnings, per accompanying statement
|
114,269
|
135,866
|
|
Accumulated other comprehensive loss
|
(19,953
|
(11,213
|
|
Treasury stock (at cost)-71 shares and 69 shares, respectively
|
(1,992
|
(1,992
|
|
Total shareholders' equity
|
665,935
|
667,408
|
|
Total liabilities and shareholders' equity
|
$857,856
|
$857,959
|