IBM 2007 Annual Report Download - page 61

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59
($ in millions except per share amount)
AT DECEMBER 31: NOTES 2007 2006
Assets
Current assets:
Cash and cash equivalents $ 14,991 $ 8,022
Marketable securities D 1,155 2,634
Notes and accounts receivable — trade (net of allowances of $241 in 2007
and $221 in 2006) 11,428 10,789
Short-term financing receivables (net of allowances of $296 in 2007 and $307 in 2006) F 16,289 15,095
Other accounts receivable (net of allowances of $13 in 2007 and $15 in 2006) 1,072 964
Inventories E 2,664 2,810
Deferred taxes O 1,687 1,806
Prepaid expenses and other current assets 3,891 2,539
Total current assets 53,177 44,660
Plant, rental machines and other property G 38,584 36,521
Less: Accumulated depreciation G 23,503 22,082
Plant, rental machines and other property — net G 15,081 14,440
Long-term financing receivables F 11,603 10,068
Prepaid pension assets U 17,417 10,629
Goodwill I 14,285 12,854
Intangible assets — net I 2,107 2,202
Investments and sundry assets H 6,761 8,381
Total Assets $120,431 $103,234
Liabilities and Stockholders’ Equity
Current liabilities:
Taxes O $ 3,673 $ 4,670
Short-term debt J&K 12,235 8,902
Accounts payable 8,054 7,964
Compensation and benefits 4,645 4,595
Deferred income 9,802 8,587
Other accrued expenses and liabilities 5,901 5,372
Total current liabilities 44,310 40,091
Long-term debt J&K 23,039 13,780
Retirement and nonpension postretirement benefit obligations U 13,582 13,553
Deferred income 3,060 2,502*
Other liabilities L 7,970 4,801*
Total Liabilities 91,962 74,728
Contingencies and Commitments N
Stockholders’ equity: M
Common stock, par value $.20 per share and additional paid-in capital 35,188 31,271
Shares authorized: 4,687,500,000
Shares issued (2007 —2,057,607,421; 2006 —2,008,470,383)
Retained earnings 60,640 52,432
Treasury stock, at cost (shares: 2007 — 672,373,283; 2006 — 501,987,771) (63,945) (46,296)
Accumulated gains and (losses) not affecting retained earnings M (3,414) (8,901)
Total Stockholders’ Equity 28,470 28,506
Total Liabilities and Stockholders’ Equity $120,431 $103,234
* Reclassified to conform with 2007 presentation of new Deferred income category, previously combined in Other liabilities.
The accompanying notes on pages 64 through 119 are an integral part of the financial statements.
Consolidated Statement of Financial Position
International Business Machines Corporation and Subsidiary Companies