Baker Hughes 2009 Annual Report Download - page 112
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38 Baker Hughes Incorporated
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par value) 2009 2008
ASSETS
Current Assets:
Cash and cash equivalents $ 1,595 $ 1,955
Accounts receivable – less allowance for doubtful accounts
(2009 – $157; 2008 – $74) 2,331 2,759
Inventories, net 1,836 2,021
Deferred income taxes 268 231
Other current assets 195 179
Total current assets 6,225 7,145
Property, plant and equipment – less accumulated depreciation
(2009 – $3,668; 2008 – $3,203) 3,161 2,833
Goodwill 1,418 1,389
Intangible assets, net 195 198
Other assets 440 296
Total assets $ 11,439 $ 11,861
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable $ 821 $ 888
Short-term borrowings and current portion of long-term debt 15 558
Accrued employee compensation 448 530
Income taxes payable 95 272
Other accrued liabilities 234 263
Total current liabilities 1,613 2,511
Long-term debt 1,785 1,775
Deferred income taxes and other tax liabilities 309 384
Liabilities for pensions and other postretirement benefits 379 317
Other liabilities 69 67
Commitments and contingencies
Stockholders’ Equity:
Common stock, one dollar par value (shares authorized – 750;
issued and outstanding: 2009 – 312; 2008 – 309) 312 309
Capital in excess of par value 874 745
Retained earnings 6,512 6,276
Accumulated other comprehensive loss (414) (523)
Total stockholders’ equity 7,284 6,807
Total liabilities and stockholders’ equity $ 11,439 $ 11,861
See Notes to Consolidated Financial Statements