Avon 2007 Annual Report Download - page 56

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CONSOLIDATED BALANCE SHEETS
(In millions, except per share data)
December 31 2007 2006
Assets
Current assets
Cash, including cash equivalents of $492.3 and $825.1 $ 963.4 $ 1,198.9
Accounts receivable (less allowances of $141.1 and $119.1) 840.4 700.4
Inventories 1,041.8 900.3
Prepaid expenses and other 669.8 534.8
Total current assets 3,515.4 3,334.4
Property, plant and equipment, at cost
Land 71.8 65.3
Buildings and improvements 972.7 910.0
Equipment 1,317.9 1,137.0
2,362.4 2,112.3
Less accumulated depreciation (1,084.2) (1,012.1)
1,278.2 1,100.2
Other assets 922.6 803.6
Total assets $ 5,716.2 $ 5,238.2
Liabilities and Shareholders’ Equity
Current liabilities
Debt maturing within one year $ 929.5 $ 615.6
Accounts payable 800.3 655.8
Accrued compensation 285.8 266.9
Other accrued liabilities 713.2 601.6
Sales and taxes other than income 222.3 176.1
Income taxes 102.3 209.2
Total current liabilities 3,053.4 2,525.2
Long-term debt 1,167.9 1,170.7
Employee benefit plans 388.7 504.9
Long-term income taxes 208.7 55.0
Other liabilities (including minority interest of $38.2 and $37.0) 185.9 192.0
Total liabilities $ 5,004.6 $ 4,447.8
Commitments and contingencies (Notes 12 and 14)
Shareholders’ equity
Common stock, par value $.25 – authorized 1,500 shares;
issued 736.3 and 732.7 shares 184.7 183.5
Additional paid-in capital 1,724.6 1,549.8
Retained earnings 3,586.5 3,396.8
Accumulated other comprehensive loss (417.0) (656.3)
Treasury stock, at cost – 308.6 and 291.4 shares (4,367.2) (3,683.4)
Total shareholders’ equity $ 711.6 $ 790.4
Total liabilities and shareholders’ equity $ 5,716.2 $ 5,238.2
The accompanying notes are an integral part of these statements.