UPS 2008 Annual Report Download - page 62

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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In millions)
December 31,
2008 2007
ASSETS
Current Assets:
Cash and cash equivalents ................................................. $ 507 $ 2,027
Marketable securities .................................................... 542 577
Accounts receivable, net .................................................. 5,547 6,084
Finance receivables, net .................................................. 480 468
Deferred income tax assets ................................................ 494 606
Income taxes receivable .................................................. 167 1,256
Other current assets ...................................................... 1,108 742
Total Current Assets ................................................. 8,845 11,760
Property, Plant and Equipment, Net ............................................. 18,265 17,663
Pension and Postretirement Benefit Assets ........................................ 10 4,421
Goodwill .................................................................. 1,986 2,577
Intangible Assets, Net ........................................................ 511 628
Non-Current Finance Receivables, Net ........................................... 476 431
Other Non-Current Assets ..................................................... 1,786 1,562
Total Assets ................................................................ $31,879 $39,042
LIABILITIES AND SHAREOWNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt and commercial paper ...................... $ 2,074 $ 3,512
Accounts payable ....................................................... 1,855 1,819
Accrued wages and withholdings ........................................... 1,436 1,414
Dividends payable ....................................................... — 440
Self-insurance reserves ................................................... 732 704
Other current liabilities ................................................... 1,720 1,951
Total Current Liabilities .............................................. 7,817 9,840
Long-Term Debt ............................................................ 7,797 7,506
Pension and Postretirement Benefit Obligations .................................... 6,323 4,438
Deferred Income Tax Liabilities ................................................ 588 2,620
Self-Insurance Reserves ...................................................... 1,710 1,651
Other Non-Current Liabilities .................................................. 864 804
Shareowners’ Equity:
Class A common stock (314 and 349 shares issued in 2008 and 2007) .............. 3 3
Class B common stock (684 and 694 shares issued in 2008 and 2007) .............. 7 7
Additional paid-in capital ................................................. — —
Retained earnings ....................................................... 12,412 14,186
Accumulated other comprehensive loss ...................................... (5,642) (2,013)
Deferred compensation obligations .......................................... 121 137
6,901 12,320
Less: Treasury stock (2 shares in 2008 and 2007) .............................. (121) (137)
Total Shareowners’ Equity .................................................... 6,780 12,183
Total Liabilities and Shareowners’ Equity ........................................ $31,879 $39,042
See notes to consolidated financial statements.
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