Kraft 2002 Annual Report Download - page 48

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44
kraft foods inc. consolidated balance sheets
(in millions of dollars)
At December 31, 2002 2001
Assets
Cash and cash equivalents $ 215 $ 162
Receivables (less allowances of $119 and $151) 3,116 3,131
Inventories:
Raw materials 1,372 1,281
Finished product 2,010 1,745
3,382 3,026
Deferred income taxes 511 466
Other current assets 232 221
Total current assets 7,456 7,006
Property, plant and equipment, at cost:
Land and land improvements 387 387
Buildings and building equipment 3,153 2,915
Machinery and equipment 10,108 9,264
Construction in progress 802 706
14,450 13,272
Less accumulated depreciation 4,891 4,163
9,559 9,109
Goodwill and other intangible assets, net 36,420 35,957
Prepaid pension assets 2,814 2,675
Other assets 851 1,051
Total Assets $57,100 $55,798
Liabilities
Short-term borrowings $ 220 $ 681
Current portion of long-term debt 352 540
Due to Altria Group, Inc. and affiliates 895 1,652
Accounts payable 1,939 1,897
Accrued liabilities:
Marketing 1,474 1,398
Employment costs 610 658
Other 1,316 1,821
Income taxes 363 228
Total current liabilities 7,169 8,875
Long-term debt 10,416 8,134
Deferred income taxes 5,428 5,031
Accrued postretirement health care costs 1,889 1,850
Notes payable to Altria Group, Inc. and affiliates 2,560 5,000
Other liabilities 3,806 3,430
Total liabilities 31,268 32,320
Contingencies (Note 17)
Shareholders’ Equity
Class A common stock, no par value (555,000,000 shares issued in 2002 and 2001)
Class B common stock, no par value (1,180,000,000 shares issued and outstanding)
Additional paid-in capital 23,655 23,655
Earnings reinvested in the business 4,814 2,391
Accumulated other comprehensive losses (primarily currency translation adjustments) (2,467) (2,568)
26,002 23,478
Less cost of repurchased stock (4,381,150 Class A shares) (170)
Total shareholders’ equity 25,832 23,478
Total Liabilities and Shareholders’ Equity $57,100 $55,798
See notes to consolidated financial statements.