Kraft 2007 Annual Report Download - page 61

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Kraft Foods Inc. and Subsidiaries
Consolidated Balance Sheets, at December 31,
(in millions of dollars)
2007 2006
ASSETS
Cash and cash equivalents $ 567 $ 239
Receivables (less allowances of $94 in 2007 and $84 in 2006) 5,197 3,869
Inventories:
Raw materials 1,605 1,389
Finished product 2,491 2,117
Total inventories 4,096 3,506
Deferred income taxes 575 387
Other current assets 302 253
Total current assets 10,737 8,254
Property, plant and equipment, at cost:
Land and land improvements 454 389
Buildings and building equipment 4,121 3,657
Machinery and equipment 13,750 12,164
Construction in progress 879 840
19,204 17,050
Less accumulated depreciation 8,426 7,357
Property, plant and equipment, net 10,778 9,693
Goodwill 31,193 25,553
Intangible assets, net 12,200 10,177
Prepaid pension assets 1,648 1,168
Other assets 1,437 729
TOTAL ASSETS $ 67,993 $ 55,574
LIABILITIES
Short-term borrowings $ 7,385 $ 1,715
Current portion of long-term debt 722 1,418
Due to Altria Group, Inc. and affiliates - 607
Accounts payable 4,065 2,602
Accrued liabilities:
Marketing 1,833 1,626
Employment costs 913 750
Dividends payable 414 45
Other 1,654 1,559
Income taxes 100 151
Total current liabilities 17,086 10,473
Long-term debt 12,902 7,081
Deferred income taxes 4,876 3,930
Accrued pension costs 810 1,022
Accrued postretirement health care costs 2,846 3,014
Other liabilities 2,178 1,499
TOTAL LIABILITIES 40,698 27,019
Contingencies (Note 15)
SHAREHOLDERS’ EQUITY
Class A common stock, no par value (1,735,000,000 shares issued in
2007 and 555,000,000 shares issued in 2006) - -
Class B common stock, no par value (1,180,000,000 shares issued
and outstanding in 2006) - -
Additional paid-in capital 23,445 23,626
Retained earnings 12,209 11,128
Accumulated other comprehensive losses (1,835) (3,069)
Treasury stock, at cost (6,524) (3,130)
TOTAL SHAREHOLDERS’ EQUITY 27,295 28,555
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 67,993 $ 55,574
See notes to consolidated financial statements.
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