Kaman

AR 13

Financials

Part II

Financials/Financial Statements and Supplementary Data/Consolidated Balance Sheets

KAMAN CORPORATION AND SUBSIDIARIES

December 31, 2013 December 31, 2012
(In thousands, except share and per share amounts)
Assets
Current assets:
Cash and cash equivalents $ 10,384 $ 16,593
Accounts receivable, net 205,873 180,798
Inventories 390,495 367,385
Deferred income taxes 30,128 25,835
Income taxes receivable 2,297
Other current assets 26,028 27,434
Total current assets 665,205 618,045
Property, plant and equipment, net of accumulated depreciation of $167,282 and $149,696, respectively 148,508 128,669
Goodwill 203,923 192,046
Other intangible assets, net 89,449 92,913
Deferred income taxes 10,287 42,905
Other assets 23,259 22,415
Total assets $ 1,140,631 $ 1,096,993
Liabilities and Shareholders' Equity
Current liabilities:
Notes payable $ 559 $ 21
Current portion of long-term debt 10,000 10,000
Accounts payable – trade 119,482 113,143
Accrued salaries and wages 33,677 35,869
Current portion of amount due to Commonwealth of Australia 6,659
Advances on contracts 9,470 1,900
Other accruals and payables 54,095 53,468
Income taxes payable 673 2,892
Total current liabilities 227,956 223,952
Long-term debt, excluding current portion 264,655 249,585
Deferred income taxes 3,855 5,150
Underfunded pension 85,835 148,703
Other long-term liabilities 47,038 49,410
Commitments and contingencies
Shareholders' equity:
Preferred stock, $1 par value, 200,000 shares authorized; none outstanding
Common stock, $1 par value, 50,000,000 shares authorized; voting; 27,189,922 and 26,881,257 shares issued, respectively 27,190 26,881
Additional paid-in capital 133,517 122,522
Retained earnings 439,441 399,473
Accumulated other comprehensive income (loss) (81,121) (121,590)
Less 330,487 and 277,473 shares of common stock, respectively, held in treasury, at cost (7,735) (7,093)
Total shareholders' equity 511,292 420,193
Total liabilities and shareholders' equity $ 1,140,631 $ 1,096,993

See accompanying notes to consolidated financial statements.