IBM 2002 Annual Report Download - page 67

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Consolidated Statement of Financial Position
65
international business machines corporation and Subsidiary Companies
(dollars in millions except per share amounts)
at december 31: notes 2002 2001*
assets
Current assets:
Cash and cash equivalents $÷«5,382 $«««6,330
Marketable securities d593 63
Notes and accounts receivable
—
trade, net of allowances 9,915 9,101
Short-term financing receivables f15,996 16,656
Other accounts receivable 1,447 1,261
Inventories e3,148 4,304
Deferred taxesp2,617 2,402
Prepaid expenses and other current assets 2,554 2,344
Total current assets 41,652 42,461
Plant, rental machines and other property g36,083 38,375
Less: Accumulated depreciation 21,643 21,871
Plant, rental machines and other property
—
net 14,440 16,504
Long-term financing receivables f11,440 12,246
Prepaid pension assets w16,003 11,397
Investments and sundry assets h8,834 6,417
Goodwill i4,115 1,278
total assets $«96,484 $«90,303
liabilities and stockholders’equity
Current liabilities:
Taxes p$÷«5,476 $÷«4,644
Short-term debt k&l6,031 11,188
Accounts payable 7,630 7,047
Compensation and benefits3,724 3,796
Deferred income 5,276 4,223
Other accrued expenses and liabilities 6,413 4,221
Total current liabilities 34,550 35,119
Long-term debt k&l19,986 15,963
Retirement and nonpension postretirement benefit obligations w13,215 10,308
Other liabilities m5,951 5,465
total liabilities 73,702 66,855
Contingencies o
Stockholders’ equity: n
Common stock, par value $.20 per share 14,858 14,248
Shares authorized: 4,687,500,000
Shares issued (2002
—
1,920,957,772; 2001
—
1,913,513,218)
Retained earnings 31,555 30,142
Tr easury stock, at cost (shares: 2002
—
198,590,876; 2001
—
190,319,489)(20,213) (20,114)
Accumulated gains and (losses) not affecting retained earnings (3,418) (828)
total stockholders’equity 22,782 23,448
total liabilities and stockholders’equity $«96,484 $«90,303
*Reclassified to conform with 2002 presentation.
The accompanying notes on pages 70 through 104 are an integral part of the financial statements.