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EQUIFAX | 2007 ANNUAL REPORT 53
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par values) 2007 2006
ASSETS
Current assets:
Cash and cash equivalents $ 81.6 $ 67.8
Trade accounts receivable, net of allowance for doubtful accounts
of $8.9 and $8.7 at December 31, 2007 and 2006, respectively 295.8 244.8
Prepaid expenses 25.8 21.5
Other current assets 21.8 11.1
Total current assets 425.0 345.2
Property and equipment:
Capitalized internal-use software and system costs 292.2 243.8
Data processing equipment and furniture 184.7 132.2
Land, buildings and improvements 89.5 29.7
Total property and equipment 566.4 405.7
Less accumulated depreciation and amortization (306.9) (243.8)
Total property and equipment, net 259.5 161.9
Goodwill 1,834.6 842.0
Indefi nite-lived intangible assets 95.7 95.2
Purchased intangible assets, net 764.5 242.2
Prepaid pension asset 72.2 47.7
Other assets, net 72.4 56.4
Total assets $ 3,523.9 $ 1,790.6
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current maturities $ 222.1 $ 330.0
Accounts payable 31.1 23.5
Accrued expenses 79.4 62.0
Accrued salaries and bonuses 63.5 41.9
Deferred revenue 69.9 62.7
Other current liabilities 80.9 62.0
Total current liabilities 546.9 582.1
Long-term debt 1,165.2 173.9
Deferred income tax liabilities, net 277.1 70.8
Long-term pension and other postretirement benefi t liabilities 62.8 65.3
Other long-term liabilities 72.7 60.4
Total liabilities 2,124.7 952.5
Commitments and Contingencies (see Note 5)
Shareholders’ equity:
Preferred stock, $0.01 par value: Authorized shares
—
10.0; Issued shares
—
none
–
–
Common stock, $1.25 par value: Authorized shares
—
300.0; Issued shares
—
188.5 and 186.3
at December 31, 2007 and 2006, respectively; Outstanding shares
—
129.7 and 124.7
at December 31, 2007 and 2006, respectively 235.6 232.9
Paid-in capital 1,040.8 609.2
Retained earnings 2,030.0 1,778.6
Accumulated other comprehensive loss (170.5) (232.2)
Treasury stock, at cost, 55.1 shares and 57.7 shares at December 31, 2007 and 2006, respectively (1,679.0) (1,490.9)
Stock held by employee benefi ts trusts, at cost, 3.7 shares and 3.9 shares
at December 31, 2007 and 2006, respectively (57.7) (59.5)
Total shareholders’ equity 1,399.2 838.1
Total liabilities and shareholders’ equity $ 3,523.9 $ 1,790.6
See Notes to Consolidated Financial Statements.