Federal Express 2009 Annual Report Download - page 44

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42
FEDEX CORPORATION
Consolidated Balance Sheets
May 31,
(In millions, except share data) 2009 2008
ASSETS
Current Assets
Cash and cash equivalents $ 2,292 $ 1,539
Receivables, less allowances of $196 and $158 3,391 4,359
Spare parts, supplies and fuel, less allowances of $175 and $163 367 435
Deferred income taxes 511 544
Prepaid expenses and other 555 367
Total current assets 7,116 7,244
Property and Equipment, at Cost
Aircraft and related equipment 10,118 10,165
Package handling and ground support equipment 4,960 4,817
Computer and electronic equipment 4,280 5,040
Vehicles 3,078 2,754
Facilities and other 6,824 6,529
29,260 29,305
Less accumulated depreciation and amortization 15,843 15,827
Net property and equipment 13,417 13,478
Other Long-Term Assets
Goodwill
2,229 3,165
Pension assets 311 827
Intangible and other assets 1,171 919
Total other long-term assets 3,711 4,911
$ 24,244 $ 25,633
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current Liabilities
Current portion of long-term debt $ 653 $ 502
Accrued salaries and employee benefi ts 861 1,118
Accounts payable 1,372 2,195
Accrued expenses 1,638 1,553
Total current liabilities 4,524 5,368
Long-Term Debt, Less Current Portion 1,930 1,506
Other Long-Term Liabilities
Deferred income taxes 1,071 1,264
Pension, postretirement healthcare and other benefi t obligations 934 989
Self-insurance accruals
904 804
Deferred lease obligations 802 671
Deferred gains, principally related to aircraft transactions 289 315
Other liabilities 164 190
Total other long-term liabilities 4,164 4,233
Commitments and Contingencies
Common Stockholders’ Investment
Common stock, $0.10 par value; 800 million shares authorized;
312 million shares issued for 2009 and 311 million shares issued for 2008 31 31
Additional paid-in capital 2,053 1,922
Retained earnings 12,919 13,002
Accumulated other comprehensive loss (1,373) (425)
Treasury stock, at cost (4) (4)
Total common stockholders’ investment 13,626 14,526
$ 24,244 $ 25,633
The accompanying notes are an integral part of these consolidated fi nancial statements.