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46 Cisco Systems, Inc.
Consolidated Balance Sheets
(in millions, except par value)
July 28, 2007 July 29, 2006
ASSETS
Current assets:
Cash and cash equivalents $ 3,728 $ 3,297
Investments 18,538 14,517
Accounts receivable, net of allowance for doubtful accounts of $166 at July 28, 2007 and $175 at July 29, 2006 3,989 3,303
Inventories 1,322 1,371
Deferred tax assets 1,953 1,604
Prepaid expenses and other current assets 2,044 1,584
Total current assets 31,574 25,676
Property and equipment, net 3,893 3,440
Goodwill 12,121 9,227
Purchased intangible assets, net 2,540 2,161
Other assets 3,212 2,811
TOTAL ASSETS $ 53,340 $ 43,315
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 786 $ 880
Income taxes payable 1,740 1,744
Accrued compensation 2,019 1,516
Deferred revenue 5,391 4,408
Other accrued liabilities 3,422 2,765
Total current liabilities 13,358 11,313
Long-term debt 6,408 6,332
Deferred revenue 1,646 1,241
Other long-term liabilities 438 511
Total liabilities 21,850 19,397
Commitments and contingencies (Note 8)
Minority interest 10 6
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;
6,100 and 6,059 shares issued and outstanding at July 28, 2007 and July 29, 2006, respectively 30,687 24,257
Retained earnings (accumulated deficit) 231 (617)
Accumulated other comprehensive income 562 272
Total shareholders’ equity 31,480 23,912
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 53,340 $ 43,315
See Notes to Consolidated Financial Statements.