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44 Cisco Systems, Inc.
July 29, 2006 July 30, 2005
ASSETS
Current assets:
Cash and cash equivalents $ 3,297 $ 4,742
Investments 14,517 11,313
Accounts receivable, net of allowance for doubtful accounts of $175 at July 29, 2006 and $162 at July 30, 2005 3,303 2,216
Inventories 1,371 1,297
Deferred tax assets 1,604 1,475
Prepaid expenses and other current assets 1,584 967
Total current assets 25,676 22,010
Property and equipment, net 3,440 3,320
Goodwill 9,227 5,295
Purchased intangible assets, net 2,161 549
Other assets 2,811 2,709
TOTAL ASSETS $ 43,315 $ 33,883
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 880 $ 735
Income taxes payable 1,744 1,511
Accrued compensation 1,516 1,317
Deferred revenue 4,408 3,854
Other accrued liabilities 2,765 2,094
Total current liabilities 11,313 9,511
Long-term debt 6,332 —
Deferred revenue 1,241 1,188
Other long-term liabilities 511 —
Total liabilities 19,397 10,699
Commitments and contingencies (Note 8)
Minority interest 6 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;
6,059 and 6,331 shares issued and outstanding at July 29, 2006 and July 30, 2005, respectively 24,257 22,394
Retained earnings (Accumulated deficit) (617) 506
Accumulated other comprehensive income 272 274
Total shareholders’ equity 23,912 23,174
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 43,315 $ 33,883
See Notes to Consolidated Financial Statements.
Consolidated Balance Sheets
(in millions, except par value)