Xerox 2005 Annual Report Download - page 104

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in millions, except per-share data and unless otherwise indicated)
96
Condensed Consolidating Balance Sheets
As of December 31, 2004
Parent Guarantor Non-Guarantor Total
Company Subsidiary Subsidiaries Eliminations* Company
Assets
Cash and cash equivalents $ 2,444 $ – $ 774 $ – $ 3,218
Short-term investments – – – – –
Total Cash, cash equivalents and
Short-term investments 2,444 – 774 – 3,218
Accounts receivable, net 380 – 1,696 – 2,076
Billed portion of finance receivables, net 206 – 171 – 377
Finance receivables, net 581 – 2,351 – 2,932
Inventories 672 – 511 (40) 1,143
Other current assets 465 – 664 53 1,182
Total Current assets 4,748 – 6,167 13 10,928
Finance receivables due after one year,net 1,099 – 4,089 – 5,188
Equipment on operating leases, net 232 – 166 – 398
Land, buildings and equipment, net 982 – 777 – 1,759
Investments in affiliates, at equity 40 – 862 (57) 845
Investments in and advances to
consolidated subsidiaries 9,294 36 (165) (9,165) –
Intangible assets, net 316 – 8 – 324
Goodwill 381 – 1,459 8 1,848
Other long-term assets 1,082 – 2,512 – 3,594
Total Assets $ 18,174 $ 36 $ 15,875 $ (9,201) $ 24,884
Liabilities and Equity
Short-term debt and current portion of
long-term debt $ 5 $ – $ 3,069 $ – $ 3,074
Accounts payable 481 – 517 39 1,037
Other current liabilities 871 13 1,317 (12) 2,189
Total Current liabilities 1,357 13 4,903 27 6,300
Long-term debt 3,632 – 3,418 – 7,050
Intercompany payables, net 2,592 (184) (2,386) (22) –
Liabilities to subsidiary trusts issuing
preferred securities 717 – – – 717
Other long-term liabilities 2,743 – 956 (15) 3,684
Total Liabilities 11,041 (171) 6,891 (10) 17,751
Series C mandatory convertible preferred stock 889 – – – 889
Common shareholders’ equity 6,244 207 8,984 (9,191) 6,244
Total Liabilities and Equity $ 18,174 $ 36 $15,875 $ (9,201) $24,884
*The information primarily includes elimination entries necessary to consolidate Xerox Corporation, the parent, with the guarantor subsidiary and non-guarantor subsidiaries.
Xerox Annual Report 2005