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Table of Contents
EMC CORPORATION
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)
December 31,
2010 2009
ASSETS
Current assets:
Cash and cash equivalents $ 4,119,138 $ 6,302,499
Short-term investments 1,256,175 392,839
Accounts and notes receivable, less allowance for doubtful accounts of $57,385 and $47,414 2,569,523 2,108,575
Inventories 856,405 886,289
Deferred income taxes 609,832 564,174
Other current assets 372,249 283,926
Total current assets 9,783,322 10,538,302
Long-term investments 4,115,918 2,692,323
Property, plant and equipment, net 2,528,432 2,224,346
Intangible assets, net 1,624,267 1,185,632
Goodwill 11,772,650 9,210,376
Other assets, net 1,008,695 961,024
Total assets $ 30,833,284 $ 26,812,003
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 1,062,600 $ 899,298
Accrued expenses 2,090,035 1,944,210
Income taxes payable 199,735 41,691
Convertible debt 3,214,771 —
Deferred revenue 2,810,873 2,262,968
Total current liabilities 9,378,014 5,148,167
Income taxes payable 265,549 235,976
Deferred revenue 1,853,263 1,373,798
Deferred income taxes 717,004 708,378
Long-term convertible debt — 3,100,290
Other liabilities 217,449 184,920
Total liabilities 12,431,279 10,751,529
Convertible debt (See Note E) 235,229 —
Commitments and contingencies (See Note M)
Shareholders' equity:
Preferred stock, par value $0.01; authorized 25,000 shares; none outstanding — —
Common stock, par value $0.01; authorized 6,000,000 shares; issued and outstanding 2,069,246 and 2,052,441 shares 20,692 20,524
Additional paid-in capital 3,816,681 3,875,791
Retained earnings 13,659,284 11,759,289
Accumulated other comprehensive loss, net (92,617) (105,722)
Total EMC Corporation's shareholders' equity 17,404,040 15,549,882
Non-controlling interest in VMware, Inc. 762,736 510,592
Total shareholders' equity 18,166,776 16,060,474
Total liabilities and shareholders' equity $ 30,833,284 $ 26,812,003
The accompanying notes are an integral part of the consolidated financial statements.
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