ManpowerGroup 2008 Annual Report Download - page 45

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43Manpower Annual Report 2008 Consolidated Balance Sheets
Consolidated Balance Sheets
in millions, except share and per share data
December 31 2008 2007
ASSETS
Current Assets
Cash and cash equivalents $ 874.0 $ 537.5
Accounts receivable, less allowance for doubtful accounts of $118.5 and $123.1, respectively 3,629.7 4,478.8
Prepaid expenses and other assets 119.9 122.2
Future income tax benefits 66.5 76.3
Total current assets 4,690.1 5,214.8
Other Assets
Goodwill 972.9 1,045.9
Intangible assets, less accumulated amortization of $78.4 and $56.1, respectively 415.2 364.8
Other assets 326.6 377.7
Total other assets 1,714.7 1,788.4
Property and Equipment
Land, buildings, leasehold improvements and equipment 744.0 760.8
Less: accumulated depreciation and amortization 530.6 539.6
Net property and equipment 213.4 221.2
Total assets $ 6,618.2 $ 7,224.4
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts payable $ 903.2 $ 1,014.4
Employee compensation payable 213.2 213.6
Accrued liabilities 577.9 679.4
Accrued payroll taxes and insurance 617.5 724.7
Value added taxes payable 479.2 583.7
Short-term borrowings and current maturities of long-term debt 115.6 39.7
Total current liabilities 2,906.6 3,255.5
Other Liabilities
Long-term debt 837.3 874.8
Other long-term liabilities 390.5 424.8
Total other liabilities 1,227.8 1,299.6
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 103,756,138
and 103,414,254 shares, respectively 1.0 1.0
Capital in excess of par value 2,514.8 2,481.8
Retained earnings 1,201.2 1,040.3
Accumulated other comprehensive (loss) income (8.9) 257.6
Treasury stock at cost, 25,791,941 and 23,541,579 shares, respectively (1,224.3) (1,111.4)
Total shareholders’ equity 2,483.8 2,669.3
Total liabilities and shareholders’ equity $ 6,618.2 $ 7,224.4
The accompanying notes to consolidated financial statements are an integral part of these statements.