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40 CVS CAREMARK
Consolidated Balance Sheets
In millions, except shares and per share amounts Dec. 31, 2008 Dec. 29, 2007
ASSETS:
Cash and cash equivalents $ 1,352.4 $ 1,056.6
Short-term investments – 27.5
Accounts receivable, net 5,384.3 4,579.6
Inventories 9,152.6 8,008.2
Deferred income taxes 435.2 329.4
Other current assets 201.7 148.1
Total current assets 16,526.2 14,149.4
Property and equipment, net 8,125.2 5,852.8
Goodwill 25,493.9 23,922.3
Intangible assets, net 10,446.2 10,429.6
Other assets 368.4 367.8
Total assets $ 60,959.9 $ 54,721.9
LIABILITIES:
Accounts payable $ 3,800.7 $ 3,593.0
Claims and discounts payable 2,814.2 2,484.3
Accrued expenses 3,177.6 2,556.8
Short-term debt 3,044.1 2,085.0
Current portion of long-term debt 653.3 47.2
Total current liabilities 13,489.9 10,766.3
Long-term debt 8,057.2 8,349.7
Deferred income taxes 3,701.7 3,426.1
Other long-term liabilities 1,136.7 857.9
Commitments and contingencies (Note 12) – –
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.01 par value:
authorized 120,619 shares; no shares issued or outstanding – –
Preference stock, series one ESOP convertible, par value $1.00:
authorized 50,000,000 shares; issued and outstanding 3,583,000 shares
at December 31, 2008 and 3,798,000 shares at December 29, 2007 191.5 203.0
Common stock, par value $0.01: authorized 3,200,000,000 shares;
issued 1,603,267,000 shares at December 31, 2008 and
1,590,139,000 shares at December 29, 2007 16.0 15.9
Treasury stock, at cost: 164,502,000 shares at December 31, 2008
and 153,682,000 shares at December 29, 2007 (5,812.3) (5,620.4)
Shares held in trust, 1,700,000 shares at December 31, 2008
and 9,224,000 shares at December 29, 2007 (55.5) (301.3)
Guaranteed ESOP obligation – (44.5)
Capital surplus 27,279.6 26,831.9
Retained earnings 13,097.8 10,287.0
Accumulated other comprehensive loss (142.7) (49.7)
Total shareholders’ equity 34,574.4 31,321.9
Total liabilities and shareholders’ equity $ 60,959.9 $ 54,721.9
See accompanying notes to consolidated fi nancial statements.