Equifax 2008 Annual Report Download - page 38

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28FEB200910255904
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par values) 2008 2007
ASSETS
Current assets:
Cash and cash equivalents $ 58.2 $ 81.6
Trade accounts receivable, net of allowance for doubtful accounts of $14.5 and $8.9 at December 31,
2008 and 2007, respectively 253.4 295.8
Prepaid expenses 22.9 25.8
Other current assets 19.3 21.8
Total current assets 353.8 425.0
Property and equipment:
Capitalized internal-use software and system costs 313.9 292.2
Data processing equipment and furniture 176.6 184.7
Land, buildings and improvements 124.0 89.5
Total property and equipment 614.5 566.4
Less accumulated depreciation and amortization (328.2) (306.9)
Total property and equipment, net 286.3 259.5
Goodwill 1,760.0 1,834.6
Indefinite-lived intangible assets 95.1 95.7
Purchased intangible assets, net 682.2 764.5
Prepaid pension asset 8.3 72.2
Other assets, net 74.6 72.4
Total assets $ 3,260.3 $ 3,523.9
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current maturities $ 31.9 $ 222.1
Accounts payable 29.9 31.1
Accrued expenses 57.6 79.4
Accrued salaries and bonuses 54.2 63.5
Deferred revenue 65.7 69.9
Other current liabilities 78.7 80.9
Total current liabilities 318.0 546.9
Long-term debt 1,187.4 1,165.2
Deferred income tax liabilities, net 215.3 277.1
Long-term pension and other postretirement benefit liabilities 166.0 62.8
Other long-term liabilities 61.2 72.7
Total liabilities 1,947.9 2,124.7
Commitments and Contingencies (see Note 5)
Shareholders’ equity:
Preferred stock, $0.01 par value: Authorized shares 10.0; Issued shares none
Common stock, $1.25 par value: Authorized shares 300.0; Issued shares 189.2 and 188.5 at
December 31, 2008 and 2007, respectively; Outstanding shares 126.3 and 129.7 at December 31,
2008 and 2007, respectively 236.5 235.6
Paid-in capital 1,075.2 1,040.8
Retained earnings 2,281.0 2,030.0
Accumulated other comprehensive loss (390.6) (170.5)
Treasury stock, at cost, 59.7 shares and 55.1 shares at December 31, 2008 and 2007, respectively (1,837.9) (1,679.0)
Stock held by employee benefits trusts, at cost, 3.2 shares and 3.7 shares at December 31, 2008 and
2007, respectively (51.8) (57.7)
Total shareholders’ equity 1,312.4 1,399.2
Total liabilities and shareholders’ equity $ 3,260.3 $ 3,523.9
See Notes to Consolidated Financial Statements.
36 EQUIFAX INC.