Xerox 2004 Annual Report Download - page 88

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86
Condensed Consolidating Balance Sheets
As of December 31, 2003
Parent Guarantor Non-Guarantor Total
Company Subsidiaries Subsidiaries Eliminations Company
Assets
Cash and cash equivalents $ 1,101 $ — $ 1,376 $ — $ 2,477
Accounts receivable, net 717 — 1,442 — 2,159
Billed portion of finance receivables, net 270 — 191 — 461
Finance receivables, net 454 — 2,527 — 2,981
Inventories 669 — 520 (37) 1,152
Other current assets 466 — 639 — 1,105
Total Current Assets 3,677 — 6,695 (37) 10,335
Finance receivables due after one year, net 834 — 4,537 — 5,371
Equipment on operating leases, net 212 — 176 (24) 364
Land, buildings and equipment, net 1,024 — 803 — 1,827
Investments in affiliates, at equity 73 — 571 — 644
Investments in and advances to consolidated subsidiaries 7,849 (64) 192 (7,977) —
Intangible assets, net 325 — – — 325
Goodwill 491 296 935 — 1,722
Other long-term assets 1,611 — 2,392 — 4,003
Total Assets $16,096 $ 232 $16,301 $(8,038) $24,591
Liabilities and Equity
Short-term debt and current portion of long-term debt $588 $ — $ 3,648 $ — $ 4,236
Accounts payable 517 — 493 — 1,010
Other current liabilities 968 13 1,431 11 2,423
Total Current Liabilities 2,073 13 5,572 11 7,669
Long-term debt 2,840 — 4,090 — 6,930
Intercompany payables, net 3,042 (188) (2,869) 15 —
Liabilities to subsidiary trusts issuing preferred securities 743 — 1,066 — 1,809
Other long-term liabilities 2,719 — 684 101 3,504
Total Liabilities 11,417 (175) 8,543 127 19,912
Series B convertible preferred stock 499 — — — 499
Series C mandatory convertible preferred stock 889 — — — 889
Common shareholders’ equity 3,291 407 7,758 (8,165) 3,291
Total Liabilities and Equity $16,096 $ 232 $16,301 $(8,038) $24,591
Condensed Consolidating Statements of Cash Flows
For the Year Ended December 31, 2003
Parent Guarantor Non-Guarantor Total
Company Subsidiaries Subsidiaries Company
Net cash provided by (used in) operating activities $ 2,673 $ — $ (794) $ 1,879
Net cash (used in) provided by investing activities (475) — 524 49
Net cash (used in) provided byfinancing activities (2,769) —299 (2,470)
Effect of exchange rate changes on cash and
cash equivalents — — 132 132
(Decrease) increase in cash and cash equivalents (571) —161 (410)
Cash and cash equivalents at beginning of period 1,672 — 1,215 2,887
Cash and cash equivalents at end of period $ 1,101 $ — $1,376 $ 2,477