Xerox 2003 Annual Report Download - page 41

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39
Consolidated Balance Sheets
December 31, (in millions) 2003 2002
Assets
Cash and cash equivalents $ 2,477 $ 2,887
Accounts receivable, net 2,159 2,072
Billed portion of finance receivables, net 461 564
Finance receivables, net 2,981 3,088
Inventories 1,152 1,231
Other current assets 1,105 1,187
Total Current Assets 10,335 11,029
Finance receivables due after one year, net 5,371 5,353
Equipment on operating leases, net 364 450
Land, buildings and equipment, net 1,827 1,757
Investments in affiliates, at equity 644 695
Intangible assets, net 325 360
Goodwill 1,722 1,564
Deferred tax assets, long-term 1,526 1,592
Other long-term assets 2,477 2,750
Total Assets $24,591 $25,550
Liabilities and Equity
Short-term debt and current portion of long-term debt $ 4,236 $ 4,377
Accounts payable 898 839
Accrued compensation and benefits costs 532 481
Unearned income 251 257
Other current liabilities 1,652 1,833
Total Current Liabilities 7,569 7,787
Long-term debt 6,930 9,794
Pension and other benefit liabilities 1,058 1,307
Post-retirement medical benefits 1,268 1,251
Liabilities to subsidiary trusts issuing preferred securities 1,809 1,793
Other long-term liabilities 1,278 1,217
Total Liabilities 19,912 23,149
Series B convertible preferred stock 499 508
Series C mandatory convertible preferred stock 889 –
Common stock, including additional paid in capital 3,239 2,739
Retained earnings 1,315 1,025
Accumulated other comprehensive loss (1,263) (1,871)
Total Liabilities and Equity $24,591 $25,550
Shares of common stock issued and outstanding were (in thousands) 793,884 and 738,273 at December 31, 2003 and December 31, 2002, respectively.
The accompanying notes are an integral part of the Consolidated Financial Statements.