Johnson and Johnson 2009 Annual Report Download - page 38

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Consolidated Balance Sheets Johnson & Johnson and Subsidiaries
At January 3, 2010 and December 28, 2008 (Dollars in Millions Except Share and Per Share Data) (Note 1) 2009 2008
36 J O H N S O N & J O H N S O N 2 0 0 9 A N N U A L R E P O R T
Assets
Current assets
Cash and cash equivalents (Notes 1 and 2) $15,810 10,768
Marketable securities (Notes 1 and 2) 3,615 2,041
Accounts receivable trade, less allowances for doubtful accounts $333 (2008, $268) 9,646 9,719
Inventories (Notes 1 and 3) 5,180 5,052
Deferred taxes on income (Note 8) 2,793 3,430
Prepaid expenses and other receivables 2,497 3,367
Total current assets 39,541 34,377
Property, plant and equipment, net (Notes 1 and 4) 14,759 14,365
Intangible assets, net (Notes 1 and 5) 16,323 13,976
Goodwill (Notes 1 and 5) 14,862 13,719
Deferred taxes on income (Note 8) 5,507 5,841
Other assets 3,690 2,634
Total assets $94,682 84,912
Liabilities and Shareholders’ Equity
Current liabilities
Loans and notes payable (Note 7) $6,318 3,732
Accounts payable 5,541 7,503
Accrued liabilities 5,796 5,531
Accrued rebates, returns and promotions 2,028 2,237
Accrued salaries, wages and commissions 1,606 1,432
Accrued taxes on income 442 417
Total current liabilities 21,731 20,852
Long-term debt (Note 7) 8,223 8,120
Deferred taxes on income (Note 8) 1,424 1,432
Employee related obligations (Notes 9 and 10) 6,769 7,791
Other liabilities 5,947 4,206
Total liabilities 44,094 42,401
Shareholders’ equity
Preferred stock — without par value
(authorized and unissued 2,000,000 shares) ——
Common stock — par value $1.00 per share (Note 12)
(authorized 4,320,000,000 shares; issued 3,119,843,000 shares) 3,120 3,120
Accumulated other comprehensive income (Note 13) (3,058) (4,955)
Retained earnings 70,306 63,379
70,368 61,544
Less: common stock held in treasury, at cost (Note 12)
(365,522,000 shares and 350,665,000 shares) 19,780 19,033
Total shareholders’ equity 50,588 42,511
Total liabilities and shareholders’ equity $94,682 84,912
See Notes to Consolidated Financial Statements