Avon 2004 Annual Report Download - page 30

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In millions
December 31 2004 2003
Assets
Current assets
Cash, including cash equivalents of $401.2 and $373.8 $ 769.6 $ 694.0
Accounts receivable (less allowances of $101.0 and $81.1) 599.1 553.2
Inventories 740.5 653.4
Prepaid expenses and other 397.2 325.5
Total current assets 2,506.4 2,226.1
Property, plant and equipment, at cost:
Land 61.7 58.6
Buildings and improvements 886.8 765.9
Equipment 1,006.7 904.4
1,955.2 1,728.9
Less accumulated depreciation (940.4) (873.3)
1,014.8 855.6
Other assets 626.9 499.9
Total assets $4,148.1 $3,581.6
Liabilities and Shareholders’Equity
Current liabilities
Debt maturing within one year $ 51.7 $ 244.1
Accounts payable 490.1 400.1
Accrued compensation 164.5 149.5
Other accrued liabilities 360.1 332.6
Sales and taxes other than income 154.4 139.5
Income taxes 304.7 341.2
Total current liabilities 1,525.5 1,607.0
Long-term debt 866.3 877.7
Employee benefit plans 620.6 502.1
Deferred income taxes 12.1 50.6
Other liabilities (including minority interest of $42.5 and $46.0) 173.4 172.9
Total liabilities 3,197.9 3,210.3
Commitments and contingencies (Notes 12 and 14)
Shareholders’ equity
Common stock, par value $.25 – authorized 1,500 shares;
issued 728.61 and 722.25 shares 182.2 90.3
Additional paid-in capital 1,356.8 1,188.4
Retained earnings 2,693.5 2,202.4
Accumulated other comprehensive loss (679.5) (729.4)
Treasury stock, at cost – 257.08 and 251.66 shares (2,602.8) (2,380.4)
Total shareholders’equity 950.2 371.3
Total liabilities and shareholders’equity $4,148.1 $3,581.6
The accompanying notes are an integral part of these statements.
Consolidated Balance Sheets
Global Beauty 51