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59
Consolidated Statements of Financial Position
(In millions, except share data)
As of As of
December 31, December 31,
2015 2014
Assets:
Current Assets:
Cash and cash e
q
uivalents $ 296 $389
Marketable securities 24 19
Receivables, less allowances of $23 and $25, res
p
ectivel
y
487 441
Inventories 40 42
Pre
p
aid ex
p
enses and other assets 54 44
Deferred customer ac
q
uisition costs 32 35
Total Current Assets 933 969
Other Assets:
Pro
p
ert
y
and e
q
ui
p
ment, ne
t
160 136
Goodwill 2,129 2,069
Intan
g
ible assets
, p
rimaril
y
trade names
,
service marks and trademarks
,
net 1
,
704 1
,
696
N
otes receivable 32 26
Lon
g
-term marketable securities 57 88
Other assets 83 44
Total Assets $ 5,098 $5,028
Liabilities and Shareholders’ E
q
uit
y
:
Current Liabilities:
Accounts
p
a
y
able $ 110 $ 84
Accrued liabilities:
Pa
y
roll and related ex
p
enses 64 82
Self-insured claims and related ex
p
enses 106 92
Accrued interest
p
a
y
able 10 34
Other 59 51
Deferred revenue 552 514
Liabilities of discontinued o
p
erations
—
9
Current
p
ortion of lon
g
-term debt 54 39
Total Current Liabilities 955 905
Lon
g
-Term Debt 2,698 2,987
Other Lon
g
-Term Liabilities:
Deferred taxes 687 640
Other lon
g
-term obli
g
ations,
p
rimaril
y
self-insured claims 213 138
Total Other Lon
g
-Term Liabilities 901 778
Commitments and Contin
g
encies
(
Note 9
)
Shareholders’ E
q
uit
y
:
Common stock $0.01 par value (authorized 2,000,000,000 shares with 143,170,897 shares
issued and 135,511,176 outstanding at December 31, 2015 and 141,731,682 shares issued
and 134
,
092
,
335 outstandin
g
at Decembe
r
31
,
2014
)
2 2
Additional
p
aid-in ca
p
ital 2,245 2,207
Accumulated deficit
(
1,560
)
(
1,720
)
Accumulated other com
p
rehensive loss
(
21
)
(
8
)
Less common stock held in treasury, at cost (7,659,721 shares at December 31, 2015 and
7,639,347 shares at December 31, 2014) (122) (122)
Total Shareholders’ E
q
uit
y
545 359
Total Liabilities and Shareholders’ E
q
uit
y
$ 5,098 $5,028
See accompanying Notes to the Consolidated Financial Statements.
2015 Annual Report 75