CenturyLink 2015 Annual Report Download - page 149

CENTURYLINK, INC.
CONSOLIDATED BALANCE SHEETS
As of December 31,
2015 2014
(Dollars in millions
and shares in thousands)
ASSETS
CURRENT ASSETS
Cash and cash equivalents ................................................... $ 126 128
Accounts receivable, less allowance of $152 and $162 ............................ 1,943 1,988
Other ................................................................... 581 580
Total current assets ................................................ 2,650 2,696
NET PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment ............................................... 38,785 36,718
Accumulated depreciation ................................................... (20,716) (18,285)
Net property, plant and equipment .................................... 18,069 18,433
GOODWILL AND OTHER ASSETS
Goodwill ................................................................ 20,742 20,755
Customer relationships, net .................................................. 3,928 4,893
Other intangible assets, net .................................................. 1,555 1,647
Other, net ................................................................ 660 679
Total goodwill and other assets ....................................... 26,885 27,974
TOTAL ASSETS ............................................................. $47,604 49,103
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Current maturities of long-term debt .......................................... $ 1,503 550
Accounts payable ......................................................... 968 1,226
Accrued expenses and other liabilities
Salaries and benefits ................................................... 602 641
Income and other taxes ................................................. 318 309
Interest .............................................................. 250 256
Other ............................................................... 220 210
Advance billings and customer deposits ........................................ 743 726
Total current liabilities ............................................. 4,604 3,918
LONG-TERM DEBT .......................................................... 18,722 19,953
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes, net .................................................. 3,569 3,154
Benefit plan obligations, net ................................................. 5,511 5,808
Other ................................................................... 1,138 1,247
Total deferred credits and other liabilities .............................. 10,218 10,209
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS’ EQUITY
Preferred stock—non-redeemable, $25.00 par value, authorized 2,000 shares, issued and
outstanding 7 and 7 shares ................................................ — —
Common stock, $1.00 par value, authorized 1,600,000 and 1,600,000 shares, issued and
outstanding 543,800 and 568,517 shares ..................................... 544 569
Additional paid-in capital ................................................... 15,178 16,324
Accumulated other comprehensive loss ........................................ (1,934) (2,017)
Retained earnings ......................................................... 272 147
Total stockholders’ equity ........................................... 14,060 15,023
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ........................... $47,604 49,103
See accompanying notes to consolidated financial statements.
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