Starwood 2009 Annual Report Download - page 126
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STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
CONSOLIDATED BALANCE SHEETS
2009 2008
December 31,
(In millions, except
share data)
ASSETS
Current assets:
Cash and cash equivalents . . ............................................. $ 87 $ 389
Restricted cash ....................................................... 47 96
Accounts receivable, net of allowance for doubtful accounts of $54 and $49 .......... 447 552
Inventories .......................................................... 783 986
Prepaid expenses and other . ............................................. 127 143
Total current assets .................................................. 1,491 2,166
Investments............................................................ 344 372
Plant, property and equipment, net ........................................... 3,350 3,347
Assets held for sale ...................................................... 71 336
Goodwill and intangible assets, net .......................................... 2,063 2,161
Deferred tax assets ...................................................... 982 639
Other assets ........................................................... 460 682
$8,761 $9,703
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings and current maturities of long-term debt ................... $ 5 $ 506
Accounts payable ..................................................... 139 171
Accrued expenses ..................................................... 1,212 1,274
Accrued salaries, wages and benefits ....................................... 303 346
Accrued taxes and other . . . ............................................. 368 391
Total current liabilities . . . ............................................. 2,027 2,688
Long-term debt ......................................................... 2,955 3,502
Deferred income taxes.................................................... 31 26
Other liabilities ......................................................... 1,903 1,843
6,916 8,059
Commitments and contingencies
Stockholders’ equity:
Common stock; $0.01 par value; authorized 1,000,000,000 shares; outstanding
186,785,068 and 182,827,483 shares at December 31, 2009 and 2008, respectively . . . 2 2
Additional paid-in capital . . ............................................. 552 493
Accumulated other comprehensive loss ..................................... (283) (391)
Retained earnings ..................................................... 1,553 1,517
Total Starwood stockholders’ equity ...................................... 1,824 1,621
Noncontrolling interest ................................................. 21 23
Total equity ........................................................ 1,845 1,644
$8,761 $9,703
. The accompanying notes to financial statements are an integral part of the above statements
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