E-Z-GO 2008 Annual Report Download - page 60

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As of January 3, 2009 and December 29, 2007
(Dollars in millions, except share data) 2008 2007
Assets
Manufacturing group
Cash and cash equivalents $ 531 $ 471
Accounts receivable, net 924 958
Inventories 3,159 2,593
Other current assets 592 540
Assets of discontinued operations 36 607
Total current assets 5,242 5,169
Property, plant and equipment, net 2,115 1,918
Goodwill 1,865 1,916
Other assets 1,454 1,605
Total Manufacturing group assets 10,676 10,608
Finance group
Cash 16 60
Finance receivables held for investment, net 6,724 8,514
Finance receivables held for sale 1,658 —
Goodwill — 169
Other assets 946 640
Total Finance group assets 9,344 9,383
Total assets $ 20,020 $ 19,991
Liabilities and shareholders’ equity
Liabilities
Manufacturing group
Current portion of long-term debt and short-term debt $ 876 $ 355
Accounts payable 1,117 840
Accrued liabilities 2,622 2,615
Liabilities of discontinued operations 151 467
Total current liabilities 4,766 4,277
Other liabilities 2,930 2,171
Long-term debt 1,693 1,791
Total Manufacturing group liabilities 9,389 8,239
Finance group
Other liabilities 540 462
Deferred income taxes 337 472
Debt 7,388 7,311
Total Finance group liabilities 8,265 8,245
Total liabilities 17,654 16,484
Shareholders’ equity
$2.08 Cumulative Convertible Preferred Stock, Series A 2 2
$1.40 Convertible Preferred Dividend Stock, Series B — —
Common stock (253.1 million and 251.9 million shares issued, respectively,
and 242.0 million and 250.1 million shares outstanding, respectively) 32 32
Capital surplus 1,229 1,193
Retained earnings 3,025 2,766
Accumulated other comprehensive loss (1,422) (400)
2,866 3,593
Less cost of treasury shares 500 86
Total shareholders’ equity 2,366 3,507
Total liabilities and shareholders’ equity $ 20,020 $ 19,991
See Notes to the Consolidated Financial Statements.
Consolidated Balance Sheets
47