Baker Hughes 2007 Annual Report Download - page 124
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2007 Form 10-K 41
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par value) 2007 2006
Assets
Current Assets:
Cash and cash equivalents $ 1,054.4 $ 750.0
Short-term investments – 353.7
Accounts receivable – less allowance for doubtful accounts:
December 31, 2007, $59.0; December 31, 2006, $50.5 2,382.9 2,055.1
Inventories 1,714.4 1,528.8
Deferred income taxes 181.5 167.8
Other current assets 122.4 112.4
Total current assets 5,455.6 4,967.8
Property, plant and equipment – less accumulated depreciation:
December 31, 2007, $2,976.4; December 31, 2006, $2,713.4 2,344.6 1,800.5
Goodwill 1,354.2 1,347.0
Intangible assets – less accumulated amortization:
December 31, 2007, $124.1; December 31, 2006, $102.3 176.6 190.4
Other assets 525.6 400.0
Total assets $ 9,856.6 $ 8,705.7
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable $ 704.2 $ 648.8
Short-term borrowings and current portion of long-term debt 15.4 1.3
Accrued employee compensation 456.8 484.2
Income taxes payable 190.9 150.0
Other accrued liabilities 250.6 337.6
Total current liabilities 1,617.9 1,621.9
Long-term debt 1,069.4 1,073.8
Deferred income taxes and other tax liabilities 415.6 300.2
Liabilities for pensions and other postretirement benefits 332.1 339.3
Other liabilities 116.0 127.6
Commitments and contingencies
Stockholders’ Equity:
Common stock, one dollar par value (shares authorized – 750.0;
issued and outstanding – 315.4 at December 31, 2007 and 319.9
at December 31, 2006) 315.4 319.9
Capital in excess of par value 1,216.1 1,600.6
Retained earnings 4,818.3 3,509.6
Accumulated other comprehensive loss (44.2) (187.2)
Total stockholders’ equity 6,305.6 5,242.9
Total liabilities and stockholders’ equity $ 9,856.6 $ 8,705.7
See Notes to Consolidated Financial Statements