Starwood 2007 Annual Report Download - page 123
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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
CONSOLIDATED BALANCE SHEETS
2007 2006
December 31,
(In millions, except
share data)
ASSETS
Current assets:
Cash and cash equivalents . . ............................................. $ 162 $ 183
Restricted cash ....................................................... 196 329
Accounts receivable, net of allowance for doubtful accounts of $50 and $49 .......... 616 593
Inventories .......................................................... 714 566
Prepaid expenses and other .............................................. 136 139
Total current assets................................................. 1,824 1,810
Investments............................................................ 423 436
Plant, property and equipment, net ........................................... 3,850 3,831
Assets held for sale ...................................................... — 2
Goodwill and intangible assets, net .......................................... 2,302 2,302
Deferred tax assets ...................................................... 729 518
Other assets ........................................................... 494 381
$9,622 $9,280
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings and current maturities of long-term debt ................... $ 5 $ 805
Accounts payable ..................................................... 201 179
Accrued expenses ..................................................... 1,175 955
Accrued salaries, wages and benefits ....................................... 405 383
Accrued taxes and other................................................. 315 139
Total current liabilities . ............................................. 2,101 2,461
Long-term debt ......................................................... 3,590 1,827
Deferred income taxes.................................................... 28 31
Other liabilities ......................................................... 1,801 1,928
7,520 6,247
Minority interest ........................................................ 26 25
Commitments and contingencies Stockholders’ equity:
Corporation common stock; $0.01 par value; authorized 1,000,000,000 shares;
outstanding 190,998,585 and 213,484,439 shares at December 31, 2007 and 2006,
respectively ........................................................ 2 2
Additional paid-in capital . . ............................................. 868 2,286
Accumulated other comprehensive loss ..................................... (147) (228)
Retained earnings ..................................................... 1,353 948
Total stockholders’ equity ............................................ 2,076 3,008
$9,622 $9,280
The accompanying notes to financial statements are an integral part of the above statements.
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