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55
2013 Annual Report
DECEMBER 31,
In millions, except per share amounts
2013 2012
Assets:
Cash and cash equivalents
$ 4,089
$ 1,375
Short-term investments
88
5
Accounts receivable, net
8,729
6,479
Inventories
11,045
11,032
Deferred income taxes
902
693
Other current assets
472
577
Total current assets
25,325
20,161
Property and equipment, net
8,615
8,632
Goodwill
26,542
26,395
Intangible assets, net
9,529
9,753
Other assets
1,515
1,280
Total assets
$ 71,526
$ 66,221
Liabilities:
Accounts payable
$ 5,548
$ 5,070
Claims and discounts payable
4,548
3,974
Accrued expenses
4,768
4,411
Short-term debt
—
690
Current portion of long-term debt
561
5
Total current liabilities
15,425
14,150
Long-term debt
12,841
9,133
Deferred income taxes
3,901
3,784
Other long-term liabilities
1,421
1,501
Commitments and contingencies (Note 12)
—
—
Shareholders’ equity:
Preferred stock, par value $0.01: 0.1 shares authorized; none issued or outstanding
—
—
Common stock, par value $0.01: 3,200 shares authorized; 1,680 shares issued
and 1,180 shares outstanding at December 31, 2013 and 1,667 shares issued
and 1,231 shares outstanding at December 31, 2012
17
17
Treasury stock, at cost: 500 shares at December 31, 2013 and 435 shares
at December 31, 2012
(20,169)
(16,270)
Shares held in trust: 1 share at December 31, 2013 and 2012
(31)
(31)
Capital surplus
29,777
29,120
Retained earnings
28,493
24,998
Accumulated other comprehensive loss
(149)
(181)
Total shareholders’ equity
37,938
37,653
Total liabilities and shareholders’ equity
$ 71,526
$ 66,221
See accompanying notes to consolidated financial statements.
Consolidated Balance Sheets