ADT 2014 Annual Report Download - page 131

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FORM 10-K
THE ADT CORPORATION
CONSOLIDATED BALANCE SHEETS
As of September 26, 2014 and September 27, 2013
(in millions, except share and per share data)
2014 2013
Assets
Current Assets:
Cash and cash equivalents .................................................. $ 66 $ 138
Accounts receivable trade, less allowance for doubtful accounts of $24 and $27,
respectively ........................................................... 101 86
Inventories .............................................................. 76 66
Prepaid expenses and other current assets ..................................... 55 85
Deferred income taxes ..................................................... 111 205
Total current assets ................................................... 409 580
Property and equipment, net .................................................... 265 235
Subscriber system assets, net ................................................... 2,260 2,002
Goodwill ................................................................... 3,738 3,476
Intangible assets, net .......................................................... 3,120 2,922
Deferred subscriber acquisition costs, net .......................................... 571 520
Other assets ................................................................. 186 178
Total Assets ................................................ $10,549 $9,913
Liabilities and Stockholders’ Equity
Current Liabilities:
Current maturities of long-term debt .......................................... $ 4 $ 3
Accounts payable ........................................................ 208 203
Accrued and other current liabilities .......................................... 253 264
Income taxes payable ..................................................... 7 43
Deferred revenue ......................................................... 236 245
Total current liabilities ................................................ 708 758
Long-term debt .............................................................. 5,096 3,373
Deferred subscriber acquisition revenue ........................................... 838 769
Deferred tax liabilities ......................................................... 651 551
Other liabilities .............................................................. 128 140
Total Liabilities ................................................. 7,421 5,591
Commitments and contingencies (See Note 7)
Stockholders’ Equity:
Common stock – authorized 1,000,000,000 shares of $0.01 par value; issued and
outstanding shares – 174,109,318 as of September 26, 2014 and 208,980,690 as of
September 27, 2013 ..................................................... 2 2
Additional paid-in capital .................................................. 2,643 3,957
Retained earnings ........................................................ 445 283
Accumulated other comprehensive income .................................... 38 80
Total Stockholders’ Equity ........................................ 3,128 4,322
Total Liabilities and Stockholders’ Equity ....................... $10,549 $9,913
See Notes to Consolidated and Combined Financial Statements
65