Exhibit 99.2
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, | December 31, | |||||||
(in thousands) | 2011 | 2010 | ||||||
As adjusted | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 43,235 | $ | 71,974 | ||||
Accounts receivable, less reserves of $1,612 and $2,013, respectively | 129,972 | 102,600 | ||||||
Inventories, net | 72,229 | 54,959 | ||||||
Prepaid expenses and other current assets | 22,724 | 20,443 | ||||||
Total current assets | 268,160 | 249,976 | ||||||
Long-term assets: | ||||||||
Property, plant and equipment, net | 81,902 | 76,576 | ||||||
Investments and other long-term assets, net | 63,300 | 60,184 | ||||||
Total long-term assets | 145,202 | 136,760 | ||||||
Total assets | $ | 413,362 | $ | 386,736 | ||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
Current liabilities: | ||||||||
Current portion of long-term debt | $ | 12,884 | $ | 1,689 | ||||
Accounts payable | 77,157 | 68,341 | ||||||
Accrued expenses and other current liabilities | 52,567 | 42,753 | ||||||
Total current liabilities | 142,608 | 112,783 | ||||||
Long-term liabilities: | ||||||||
Long-term debt | 170,081 | 167,903 | ||||||
Other long-term liabilities | 12,583 | 14,831 | ||||||
Total long-term liabilities | 182,664 | 182,734 | ||||||
Shareholders' equity: | ||||||||
Preferred Shares, without par value, authorized 5,000 shares, none issued | - | - | ||||||
Common Shares, without par value, authorized 60,000 shares, issued 26,451 and 25,994 | ||||||||
shares and outstanding 25,576 and 25,393 shares, respectively, with no stated value | - | - | ||||||
Additional paid-in capital | 165,205 | 161,587 | ||||||
Common Shares held in treasury, 875 and 601 shares, respectively, at cost | (1,869 | ) | (1,118 | ) | ||||
Accumulated deficit | (66,838 | ) | (77,620 | ) | ||||
Accumulated other comprehensive (loss) income | (12,501 | ) | 4,062 | |||||
Total Stoneridge Inc. and subsidiaries shareholders’ equity | 83,997 | 86,911 | ||||||
Noncontrolling interest | 4,093 | 4,308 | ||||||
Total shareholders' equity | 88,090 | 91,219 | ||||||
Total liabilities and shareholders' equity | $ | 413,362 | $ | 386,736 |
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