ManpowerGroup 2004 Annual Report Download - page 62

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2004 Annual Report MANPOWER INC.60
December 31 2004 2003
ASSETS
Current Assets
Cash and cash equivalents $ 531.8 $ 426.2
Accounts receivable, less allowance for doubtful accounts of $91.4 and $79.1, respectively 3,227.8 2,600.9
Prepaid expenses and other assets 161.4 100.1
Future income tax benefits 96.5 101.4
Total current assets 4,017.5 3,228.6
Other Assets
Goodwill and other intangible assets, less accumulated amortization of
$65.0 and $53.6, respectively 1,297.0 544.3
Other assets 305.5 416.4
Total other assets 1,602.5 960.7
Property and Equipment
Land, buildings, leasehold improvements and equipment 669.8 606.3
Less: accumulated depreciation and amortization 446.7 419.2
Net property and equipment 223.1 187.1
Total assets $ 5,843.1 $ 4,376.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable $ 687.1 $ 555.4
Employee compensation payable 156.0 105.6
Accrued liabilities 505.7 360.0
Accrued payroll taxes and insurance 569.6 476.6
Value added taxes payable 457.8 368.2
Short-term borrowings and current maturities of long-term debt 225.7 12.1
Total current liabilities 2,601.9 1,877.9
Other Liabilities
Long-term debt 676.1 829.6
Other long-term liabilities 391.1 358.6
Total other liabilities 1,067.2 1,188.2
Shareholders’ Equity
Preferred stock, $.01 par value, authorized 25,000,000 shares, none issued ——
Common stock, $.01 par value, authorized 125,000,000 shares, issued
100,236,635 and 88,604,575 shares, respectively 1.0 0.9
Capital in excess of par value 2,296.4 1,732.5
Retained earnings (accumulated deficit) 51.0 (167.6)
Accumulated other comprehensive income 109.4 28.3
Treasury stock at cost, 9,946,475 and 9,945,200 shares, respectively (283.8) (283.8)
Total shareholders’ equity 2,174.0 1,310.3
Total liabilities and shareholders’ equity $ 5,843.1 $ 4,376.4
The accompanying notes to consolidated financial statements are an integral part of these balance sheets.
CONSOLIDATED BALANCE SHEETS
in millions, except share and per share data