Avon 2008 Annual Report Download - page 56

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CONSOLIDATED BALANCE SHEETS
(In millions, except per share data)
December 31 2008 2007
Assets
Current assets
Cash, including cash equivalents of $704.8 and $492.3 $ 1,104.7 $ 963.4
Accounts receivable (less allowances of $127.9 and $141.1) 687.8 795.0
Inventories 1,007.9 1,041.8
Prepaid expenses and other 756.5 715.2
Total current assets 3,556.9 3,515.4
Property, plant and equipment, at cost
Land 85.3 71.8
Buildings and improvements 1,000.7 972.7
Equipment 1,353.9 1,317.9
2,439.9 2,362.4
Less accumulated depreciation (1,096.0) (1,084.2)
1,343.9 1,278.2
Other assets 1,173.2 922.6
Total assets $ 6,074.0 $ 5,716.2
Liabilities and Shareholders’ Equity
Current liabilities
Debt maturing within one year $ 1,031.4 $ 929.5
Accounts payable 724.3 800.3
Accrued compensation 234.4 285.8
Other accrued liabilities 581.9 713.2
Sales and taxes other than income 212.2 222.3
Income taxes 128.0 102.3
Total current liabilities 2,912.2 3,053.4
Long-term debt 1,456.2 1,167.9
Employee benefit plans 665.4 388.7
Long-term income taxes 168.9 208.7
Other liabilities (including minority interest of $37.4 and $38.2) 196.4 185.9
Total liabilities $ 5,399.1 $ 5,004.6
Commitments and contingencies (Notes 13 and 15)
Shareholders’ equity
Common stock, par value $.25 – authorized 1,500 shares;
issued 739.4 and 736.3 shares $ 185.6 $ 184.7
Additional paid-in capital 1,874.1 1,724.6
Retained earnings 4,118.9 3,586.5
Accumulated other comprehensive loss (965.9) (417.0)
Treasury stock, at cost – 313.1 and 308.6 shares (4,537.8) (4,367.2)
Total shareholders’ equity $ 674.9 $ 711.6
Total liabilities and shareholders’ equity $ 6,074.0 $ 5,716.2
The accompanying notes are an integral part of these statements.