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57Xerox 2011 Annual Report
Xerox Corporation
Consolidated Balance Sheets
December 31,
(in millions, except share data in thousands) 2011 2010
Assets
Cash and cash equivalents $ 902 $ 1,211
Accounts receivable, net 2,600 2,826
Billed portion of finance receivables, net 166 198
Finance receivables, net 2,165 2,287
Inventories 1,021 991
Other current assets 1,058 1,126
Total current assets 7,912 8,639
Finance receivables due after one year, net 4,031 4,135
Equipment on operating leases, net 533 530
Land, buildings and equipment, net 1,612 1,671
Investments in affiliates, at equity 1,395 1,291
Intangible assets, net 3,042 3,371
Goodwill 8,803 8,649
Deferred tax assets, long-term 672 540
Other long-term assets 2,116 1,774
Total Assets $ 30,116 $ 30,600
Liabilities and Equity
Short-term debt and current portion of long-term debt $ 1,545 $ 1,370
Accounts payable 2,016 1,968
Accrued compensation and benefits costs 757 901
Unearned income 432 371
Other current liabilities 1,631 1,807
Total current liabilities 6,381 6,417
Long-term debt 7,088 7,237
Liability to subsidiary trust issuing preferred securities — 650
Pension and other benefit liabilities 2,487 2,071
Post-retirement medical benefits 925 920
Other long-term liabilities 861 797
Total Liabilities 17,742 18,092
Series A Convertible Preferred Stock 349 349
Common stock 1,353 1,398
Additional paid-in capital 6,317 6,580
Treasury stock, at cost (124) —
Retained earnings 7,046 6,016
Accumulated other comprehensive loss (2,716) (1,988)
Xerox shareholders’ equity 11,876 12,006
Noncontrolling interests 149 153
Total Equity 12,025 12,159
Total Liabilities and Equity $ 30,116 $ 30,600
Shares of common stock issued 1,352,849 1,397,578
Treasury stock (15,508) —
Shares of Common Stock Outstanding 1,337,341 1,397,578
The accompanying notes are an integral part of these Consolidated Financial Statements.