Whirlpool 2007 Annual Report Download - page 118

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CONSOLIDATED BALANCE SHEETS
(Millions of dollars)
December 31 2007 2006
ASSETS
CURRENT ASSETS
Cash and equivalents $ 201 $ 262
Accounts receivable, net of allowance for uncollectible accounts
of $83 and $84 at December 31, 2007 and 2006, respectively 2,604 2,676
Inventories 2,665 2,348
Prepaid expenses 89 95
Deferred income taxes 324 372
Other current assets 672 524
Assets of discontinued operations — 240
TOTAL CURRENT ASSETS 6,555 6,517
OTHER ASSETS
Goodwill, net 1,760 1,663
Other intangibles, net of accumulated amortization
of $64 and $33 at December 31, 2007 and 2006, respectively 1,854 1,871
Other assets 628 551
TOTAL OTHER ASSETS 4,242 4,085
PROPERTY, PLANT AND EQUIPMENT
Land 84 94
Buildings 1,226 1,174
Machinery and equipment 7,861 7,186
Accumulated depreciation (5,959) (5,297)
Total property, plant and equipment 3,212 3,157
TOTAL ASSETS $14,009 $ 13,759
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable $ 3,260 $ 2,945
Accrued expenses 633 698
Accrued advertising and promotions 497 550
Employee compensation 444 420
Notes payable 298 521
Current maturities of long—term debt 127 17
Other current liabilities 634 771
Liabilities of discontinued operations — 121
TOTAL CURRENT LIABILITIES 5,893 6,043
NONCURRENT LIABILITIES
Long—term debt 1,668 1,798
Postretirement benefits 1,061 1,207
Pension benefits 725 838
Other liabilities 682 542
TOTAL NONCURRENT LIABILITIES 4,136 4,385
Commitments and contingencies
Minority interests 69 48
STOCKHOLDERS' EQUITY
Common stock, $1 par value, 250 million shares authorized,
103 million and 102 million shares issued at December 31, 2007
and 2006, respectively, 76 million and 78 million shares outstanding
at December 31, 2007 and 2006, respectively. 103 102
Additional paid—in capital 1,993 1,869
Retained earnings 3,703 3,205
Accumulated other comprehensive loss (270) (643)
Treasury stock — 27 million shares and 24 million shares
at December 31, 2007 and 2006, respectively. (1,618) (1,250)
TOTAL STOCKHOLDERS' EQUITY 3,911 3,283
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $14,009 $ 13,759
CONSOLIDATED BALANCE SHEETS P.116