POWELL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) September 30, ASSETS  2013  2012 Current Assets: Cash and cash equivalents $ 107,74 8  $ 90,040 Accounts receivable, less allowance for doubtful accounts of $703 and $1,399, respectively 119,420  125,771 Costs and estimated earnings in excess of billings on uncompleted contracts 86,621 86,734 Inventories, net 28,983 32,917 Income taxes receivable 3,022 485 Deferred income taxes 4,716 4,598 Prepaid expenses and other current assets 6,831 5,865 Total Current Assets 357,3 41 346,410 Property, plant and equipment, net 144,589 78,652 Goodwill 1,003 1,003 Intangible assets, net 11,612 13,317 Deferred income taxes 9,025 2,423 Other assets 7,333 6,507 Total Assets $ 530,903  $ 448,312 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Current maturities of long-term debt and capital lease obligations $ 416  $ 725 Income taxes payable 5,917 3,516 Accounts payable 58,501 48,490 Accrued salaries, bonuses and commissions 27,474 25,822 Billings in excess of costs and estimated earnings on uncompleted contracts 60,201 37,14 4 Accrued product warranty 5,450 5,714 Other accrued expenses 10,104 9,462 Total Current Liabilities 168,063 130,873 Long-term debt and capital lease obligations, net of current maturities 3,200 3,630 Deferred compensation 3,480 2,891 Postretirement benefit obligation 739 685 Other liabilities 195 130 Total Liabilities 175,677 138,209 Commitments and Contingencies (Note J) Stockholders’ Equity: Preferred stock, par value $.01; 5,000,000 shares authorized; none issued —  — Common stock, par value $.01; 30,000,000 shares authorized; 11,970,967 and 11,915,673 shares issued and outstanding, respectively 119 119 Additional paid-in capital 43,193 38,452 Retained earnings 313,987 271,911 Accumulated other comprehensive income (loss) (2,073) (379) Total Stockholders’ Equity 355,226 310,103 Total Liabilities and Stockholders’ Equity $ 530,903  $ 448,312 The accompanying notes are an integral part of these consolidated financial statements.  24