Cisco 2004 Annual Report Download - page 36

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July 31, 2004 July 26, 2003
ASSETS
Current assets:
Cash and cash equivalents $ 3,722 $ 3,925
Short-term investments 4,947 4,560
Accounts receivable, net of allowance for doubtful accounts
of $179 at July 31, 2004 and $183 at July 26, 2003 1,825 1,351
Inventories 1,207 873
Deferred tax assets 1,827 1,975
Prepaid expenses and other current assets 815 753
Total current assets 14,343 13,437
Investments 10,598 12,167
Property and equipment, net 3,290 3,643
Goodwill 4,198 4,043
Purchased intangible assets, net 325 556
Other assets 2,840 3,261
TOTAL ASSETS $ 35,594 $ 37,107
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 657 $ 594
Income taxes payable 963 739
Accrued compensation 1,466 1,470
Deferred revenue 3,527 3,034
Other accrued liabilities 2,090 2,457
Total current liabilities 8,703 8,294
Deferred revenue 975 774
Total liabilities 9,678 9,068
Commitments and contingencies (Note 8)
Minority interest 90 10
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; 6,735 and 6,998 shares issued and
outstanding at July 31, 2004 and July 26, 2003, respectively 22,450 21,116
Retained earnings 3,164 6,559
Accumulated other comprehensive income 212 354
Total shareholders’ equity 25,826 28,029
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 35,594 $ 37,107
See Notes to Consolidated Financial Statements.
2004 ANNUAL REPORT 39
CONSOLIDATED BALANCE SHEETS
(in millions, except par value)