Exhibit 99.1.4
CONSOLIDATED BALANCE SHEETS
NATIONAL DATA CORPORATION
(In thousands, except share and per share data)
- -----------------------------------------------------------------------------------------------------------------------------
February 29, May 31,
2000 1999
------------- --------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 949 $ 3,414
Billed accounts receivable 101,200 124,072
Unbilled accounts receivable 3,098 3,048
Allowance for doubtful accounts (6,960) (5,184)
-------- --------
Accounts receivable, net 97,338 121,936
-------- --------
Income tax receivable - 8,348
Inventory 9,396 7,927
Net merchant processing receivable 8,218 -
Deferred income taxes 4,610 1,191
Prepaid expenses and other current assets 16,843 13,023
-------- --------
Total current assets 137,354 155,839
-------- --------
Property and equipment, net 95,929 94,368
Intangible assets, net 352,114 369,076
Deferred income taxes 24,098 13,963
Investment 25,768 -
Other 5,325 5,397
Net assets of discontinued operations 49,183 104,454
-------- --------
Total Assets $689,771 $743,097
======== ========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Line of credit $ 20,000 $ 35,000
Current portion of long-term debt 94 6,148
Obligations under capital leases 9,202 11,980
Accounts payable and accrued liabilities 70,641 58,562
Net merchant processing payable - 1,794
Income tax payable 5,134 -
Deferred income 27,928 29,945
-------- --------
Total current liabilities 132,999 143,429
-------- --------
Long-term debt 147,070 147,190
Obligations under capital leases 8,252 15,469
Other long-term liabilities 15,758 9,183
-------- --------
Total liabilities 304,079 315,271
-------- --------
Commitments and contingencies
Minority interest in equity of subsidiaries 19,539 18,732
Shareholders' equity:
Preferred stock, par value $1.00 per share; 1,000,000 shares authorized, none issued - -
Common stock, par value $.125 per share; 200,000,000 and 100,000,000 shares authorized at February
29, 2000 and May 31, 1999, respectively, 33,953,008 and 33,953,031 shares issued, respectively. 4,244 4,244
Capital in excess of par value 341,542 345,639
Treasury stock, at cost, 1,095,320 and 175,442 shares, respectively (28,867) (5,857)
Unrealized holding gain 5,176 -
Retained earnings 54,047 70,865
Deferred compensation (7,380) (3,215)
Cumulative translation adjustment (2,609) (2,582)
-------- --------
Total shareholders' equity 366,153 409,094
-------- --------
Total Liabilities and Shareholders' Equity $689,771 $743,097
======== ========