MasterCard 2008 Annual Report Download - page 89

MASTERCARD INCORPORATED
CONSOLIDATED BALANCE SHEETS
December 31, 2008 December 31, 2007
(In thousands, except share data)
ASSETS
Cash and cash equivalents ..................................................... $1,505,160 $1,659,295
Investment securities, at fair value:
Trading ................................................................ — 2,561
Available-for-sale ....................................................... 588,095 1,308,126
Municipal bonds held-to-maturity ............................................... 154,000 —
Accounts receivable .......................................................... 639,482 532,633
Income taxes receivable ....................................................... 198,308 —
Settlement due from customers ................................................. 513,191 712,558
Restricted security deposits held for customers ..................................... 183,245 142,052
Prepaid expenses ............................................................ 213,612 156,258
Deferred income taxes ........................................................ 283,795 44,525
Other current assets .......................................................... 32,619 33,733
Total Current Assets .................................................... 4,311,507 4,591,741
Property, plant and equipment, at cost (less accumulated depreciation of $278,269 and
$250,888) ................................................................ 306,798 290,200
Deferred income taxes ........................................................ 567,567 263,143
Goodwill .................................................................. 297,993 239,626
Other intangible assets, (less accumulated amortization of $377,570 and $347,977) ........ 394,282 320,758
Investment securities available-for-sale, at fair value ................................ 191,760 —
Municipal bonds held-to-maturity ............................................... 37,450 192,489
Prepaid expenses ............................................................ 302,095 274,962
Other assets ................................................................ 66,397 87,122
Total Assets ............................................................ $6,475,849 $6,260,041
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable ............................................................ $ 262,342 $ 252,391
Settlement due to customers ................................................... 532,237 604,212
Restricted security deposits held for customers ..................................... 183,245 142,052
Obligations under litigation settlements (Note 18) .................................. 713,035 107,235
Accrued expenses ............................................................ 1,032,061 1,071,557
Short-term debt ............................................................. 149,380 80,000
Other current liabilities ....................................................... 118,151 105,895
Total Current Liabilities ................................................. 2,990,451 2,363,342
Deferred income taxes ....................................................... 74,518 71,278
Obligations under litigation settlements (Note 18) .................................. 1,023,263 297,201
Long-term debt .............................................................. 19,387 149,824
Other liabilities .............................................................. 436,255 346,469
Total Liabilities ........................................................ 4,543,874 3,228,114
Commitments and contingencies (Notes 17, 18 and 20)
Minority interest ............................................................. 4,620 4,620
Stockholders’ Equity
Class A common stock, $.0001 par value; authorized 3,000,000,000 shares, 105,126,588 and
91,243,433 shares issued and 98,385,998 and 87,321,541 outstanding, respectively ...... 10 9
Class B common stock, $.0001 par value; authorized 1,200,000,000 shares, 30,848,778 and
43,948,778 shares issued and outstanding, respectively ............................ 4 5
Class M common stock, $.0001 par value; authorized 1,000,000 shares, 1,728 and 1,664
shares issued and outstanding, respectively ...................................... — —
Additional paid-in-capital ..................................................... 3,304,604 3,312,380
Class A treasury stock, at cost, 6,740,590 and 3,921,892, respectively .................. (1,250,000) (600,532)
Retained earnings (accumulated deficit) .......................................... (236,100) 37,699
Accumulated other comprehensive income:
Cumulative foreign currency translation adjustments ............................ 175,040 216,651
Defined benefit pension and other postretirement plans, net of tax .................. (43,207) (3,555)
Investment securities available-for-sale, net of tax .............................. (22,996) 64,650
Total accumulated other comprehensive income .................................... 108,837 277,746
Total Stockholders’ Equity ............................................... 1,927,355 3,027,307
Total Liabilities and Stockholders’ Equity ...................................... $6,475,849 $6,260,041
The accompanying notes are an integral part of these consolidated financial statements.
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