Cisco 2003 Annual Report Download - page 38

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July 26, 2003 July 27, 2002
ASSETS
Current assets:
Cash and cash equivalents $3,925 $9,484
Short-term investments 4,560 3,172
Accounts receivable, net of allowance for doubtful accounts
of $183 at July 26, 2003 and $335 at July 27, 2002 1,351 1,105
Inventories 873 880
Deferred tax assets 1,975 2,030
Lease receivables, net 163 239
Prepaid expenses and other current assets 568 523
Total current assets 13,415 17,433
Investments 12,167 8,800
Property and equipment, net 3,721 4,102
Goodwill 4,043 3,565
Purchased intangible assets, net 556 797
Lease receivables, net 60 39
Other assets 3,145 3,059
TOTAL ASSETS $37,107 $37,795
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $594 $470
Income taxes payable 739 579
Accrued compensation 1,470 1,365
Deferred revenue 3,034 3,143
Other accrued liabilities 2,162 2,496
Restructuring liabilities 295 322
Total current liabilities 8,294 8,375
Deferred revenue 774 749
Total liabilities 9,068 9,124
Commitments and contingencies (Note 8)
Minority interest 10 15
Shareholders’ equity:
Preferred stock, no par value: 5 shares authorized;
none issued and outstanding ——
Common stock and additional paid-in capital, $0.001 par value:
20,000 shares authorized; 6,998 and 7,303 shares issued and
outstanding at July 26, 2003 and July 27, 2002, respectively 21,116 20,950
Retained earnings 6,559 7,733
Accumulated other comprehensive income (loss) 354 (27)
Total shareholders’ equity 28,029 28,656
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $37,107 $37,795
See Notes to Consolidated Financial Statements.
36 CISCO SYSTEMS, INC.
CONSOLIDATED BALANCE SHEETS
(In millions, except par value)