Kraft 2001 Annual Report Download - page 45

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Kraft Foods Inc.
39
Consolidated Balance Sheets
(in millions of dollars)
At December 31, 2001 2000
Assets
Cash and cash equivalents $ 162 $ 191
Receivables (less allowances of $151 and $152) 3,131 3,231
Inventories:
Raw materials 1,281 1,175
Finished product 1,745 1,866
3,026 3,041
Deferred income taxes 466 504
Other current assets 221 185
Total current assets 7,006 7,152
Property, plant and equipment, at cost:
Land and land improvements 387 419
Buildings and building equipment 2,915 2,949
Machinery and equipment 9,264 8,858
Construction in progress 706 816
13,272 13,042
Less accumulated depreciation 4,163 3,637
9,109 9,405
Goodwill and other intangible assets (less accumulated amortization of $7,099 and $6,100) 35,957 31,584
Prepaid pension assets 2,675 2,623
Other assets 1,051 1,307
Total Assets $55,798 $52,071
Liabilities
Short-term borrowings $ 681 $ 146
Current portion of long-term debt 540 713
Due to parent and affiliates 1,652 865
Accounts payable 1,897 1,971
Accrued liabilities:
Marketing 1,398 1,601
Employment costs 658 625
Other 1,821 1,411
Income taxes 228 258
Total current liabilities 8,875 7,590
Long-term debt 8,134 2,695
Deferred income taxes 5,031 1,446
Accrued postretirement health care costs 1,850 1,867
Notes payable to parent and affiliates 5,000 21,407
Other liabilities 3,430 3,018
Total liabilities 32,320 38,023
Contingencies (Note 17)
Shareholders’ Equity
Class A common stock, no par value (555,000,000 and 275,000,000 shares issued and
outstanding in 2001 and 2000)
Class B common stock, no par value (1,180,000,000 shares issued and outstanding)
Additional paid-in capital 23,655 15,230
Earnings reinvested in the business 2,391 992
Accumulated other comprehensive losses (primarily currency translation adjustments) (2,568) (2,174)
Total shareholders’ equity 23,478 14,048
Total Liabilities and Shareholders’ Equity $55,798 $52,071
See notes to consolidated financial statements.