Xerox 2004 Annual Report Download - page 86

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84
Condensed Consolidating Balance Sheets
As of December 31, 2004
Parent Guarantor Non-Guarantor Total
Company Subsidiaries Subsidiaries Eliminations Company
Assets
Cash and cash equivalents $ 2,446 $ — $ 772 $ — $ 3,218
Accounts receivable, net 358 — 1,718 — 2,076
Billed portion of finance receivables, net 206 — 171 — 377
Finance receivables, net 581 — 2,351 — 2,932
Inventories 669 — 514 (40) 1,143
Other current assets 457 — 672 53 1,182
Total Current Assets 4,717 — 6,198 13 10,928
Finance receivables due after one year, net 1,099 — 4,089 — 5,188
Equipment on operating leases, net 229 — 169 — 398
Land, buildings and equipment, net 979 — 780 — 1,759
Investments in affiliates, at equity 61 — 801 (17) 845
Investments in and advances to consolidated subsidiaries 9,050 (136) (165) (8,749) —
Intangible assets, net 289 — 8 — 297
Goodwill 490 290 1,060 8 1,848
Other long-term assets 1,106 — 2,515 — 3,621
Total Assets $18,020 $ 154 $15,455 $(8,745) $24,884
Liabilities and Equity
Short-term debt and current portion of long-term debt $5 $ — $ 3,069 $ — $ 3,074
Accounts payable 476 — 522 39 1,037
Other current liabilities 1,428 7 760 (6) 2,189
Total Current Liabilities 1,909 7 4,351 33 6,300
Long-term debt 3,632 — 3,418 — 7,050
Intercompany payables, net 1,891 (239) (1,630) (22) —
Liabilities to subsidiary trusts issuing preferred securities 717 — — — 717
Other long-term liabilities 2,738 — 961 (15) 3,684
Total Liabilities 10,887 (232) 7,100 (4) 17,751
Series C mandatory convertible preferred stock 889 — — — 889
Common shareholders’ equity 6,244 386 8,355 (8,741) 6,244
Total Liabilities and Equity $18,020 $ 154 $15,455 $(8,745) $24,884
Condensed Consolidating Statements of Cash Flows
For the Year Ended December 31, 2004
Parent Guarantor Non-Guarantor Total
Company Subsidiaries Subsidiaries Company
Net cash provided by operating activities $ 1,122 $ — $ 628 $ 1,750
Net cash provided by investing activities 72 — 131 203
Net cash provided by (used in) financing activities 153 — (1,446) (1,293)
Effect of exchange rate changes on cash and
cash equivalents (2) — 83 81
Increase (decrease) in cash and cash equivalents 1,345 — (604) 741
Cash and cash equivalents at beginning of period 1,101 — 1,376 2,477
Cash and cash equivalents at end of period $ 2,446 $ — $ 772 $ 3,218