Microsoft 2004 Annual Report Download - page 36

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PAGE 36
BALANCE SHEETS
(In millions)
June 30 2003
(1)
2004
Assets
Current assets:
Cash and equivalents $ 6,438
$15,982
Short-term investments 42,610 44,610
Total cash and short-term investments 49,048 60,592
Accounts receivable, net 5,196 5,890
Inventories 640 421
Deferred income taxes 2,506 2,097
Other 1,583 1,566
Total current assets 58,973 70,566
Property and equipment, net 2,223 2,326
Equity and other investments 13,692 12,210
Goodwill 3,128 3,115
Intangible assets, net 384 569
Deferred income taxes 2,161 1,829
Other long-term assets 1,171 1,774
Total assets $81,732 $92,389
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 1,573 $ 1,717
Accrued compensation 1,416 1,339
Income taxes 2,044 3,478
Short-term unearned revenue 7,225 6,514
Other 1,716 1,921
Total current liabilities 13,974 14,969
Long-term unearned revenue 1,790 1,663
Other long-term liabilities 1,056 932
Commitments and contingencies
Stockholders’ equity:
Common stock and paid-in capital – shares authorized 24,000;
outstanding 10,771 and 10,862 49,234 56,396
Retained earnings, including accumulated other comprehensive
income of $1,840 and $1,119 15,678 18,429
Total stockholders’ equity 64,912 74,825
Total liabilities and stockholders’ equity $81,732 $92,389
(1) June 30, 2003 balance sheet has been restated to reflect the retroactive adoption of the fair value recognition
provisions of SFAS 123, Accounting for Stock-Based Compensation, as discussed in Note 13.
See accompanying notes.