Xerox 2004 Annual Report Download - page 41

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39
Consolidated Balance Sheets
December 31, (in millions) 2004 2003
Assets
Cash and cash equivalents $3,218 $2,477
Accounts receivable, net 2,076 2,159
Billed portion of finance receivables, net 377 461
Finance receivables, net 2,932 2,981
Inventories 1,143 1,152
Other current assets 1,182 1,105
Total Current Assets 10,928 10,335
Finance receivables due after one year, net 5,188 5,371
Equipment on operating leases, net 398 364
Land, buildings and equipment, net 1,759 1,827
Investments in affiliates, at equity 845 644
Intangible assets, net 297 325
Goodwill 1,848 1,722
Deferred tax assets, long-term 1,521 1,526
Other long-term assets 2,100 2,477
Total Assets $24,884 $24,591
Liabilities and Equity
Short-term debt and current portion of long-term debt $3,074 $4,236
Accounts payable 1,037 1,010
Accrued compensation and benefits costs 637 632
Unearned income 243 251
Other current liabilities 1,309 1,540
Total Current Liabilities 6,300 7,669
Long-term debt 7,050 6,930
Liabilities to subsidiary trusts issuing preferred securities 717 1,809
Pension and other benefit liabilities 1,189 1,058
Post-retirement medical benefits 1,180 1,168
Other long-term liabilities 1,315 1,278
Total Liabilities 17,751 19,912
Series B convertible preferred stock —499
Series C mandatory convertible preferred stock 889 889
Common stock, including additional paid in capital 4,881 3,239
Retained earnings 2,101 1,315
Accumulated other comprehensive loss (738) (1,263)
Total Liabilities and Equity $24,884 $24,591
Shares of common stock issued and outstanding were (in thousands) 955,997 and 793,884 at December 31, 2004 and December 31, 2003, respectively.
The accompanying notes are an integral part of the Consolidated Financial Statements.