Johnson and Johnson 2005 Annual Report Download - page 41

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CONSOLIDATED FINANCIAL STATEMENTS PAGE 39
At January 1, 2006 and January 2, 2005 (Dollars in Millions Except Share and Per Share Data) (Note 1) 2005 2004
Assets
Current assets
Cash and cash equivalents (Notes 1, 14 and 15) $16,055 9,203
Marketable securities (Notes 1, 14 and 15) 83 3,681
Accounts receivable trade, less allowances for doubtful accounts $164 (2004, $206) 7,010 6,831
Inventories (Notes 1 and 2) 3,959 3,744
Deferred taxes on income (Note 8) 1,845 1,737
Prepaid expenses and other receivables 2,442 2,124
Total current assets 31,394 27,320
Marketable securities, non-current (Notes 1, 14 and 15) 20 46
Property, plant and equipment, net (Notes 1 and 3) 10,830 10,436
Intangible assets, net (Notes 1 and 7) 6,185 5,979
Goodwill, net (Notes 1 and 7) 5,990 5,863
Deferred taxes on income (Note 8) 385 551
Other assets (Note 5) 3,221 3,122
Total assets $58,025 53,317
Liabilities and Shareholders’ Equity
Current liabilities
Loans and notes payable (Note 6) $ 668 280
Accounts payable 4,315 5,227
Accrued liabilities 3,529 3,523
Accrued rebates, returns and promotions 2,017 2,297
Accrued salaries, wages and commissions 1,166 1,094
Accrued taxes on income 940 1,506
Total current liabilities 12,635 13,927
Long-term debt (Note 6) 2,017 2,565
Deferred taxes on income (Note 8) 211 403
Employee related obligations (Notes 5 and 13) 3,065 2,631
Other liabilities 2,226 1,978
Total liabilities 20,154 21,504
Shareholders’ equity
Preferred stock — without par value
(authorized and unissued 2,000,000 shares) — —
Common stock — par value $1.00 per share (Note 20)
(authorized 4,320,000,000 shares; issued 3,119,842,000 shares) 3,120 3,120
Note receivable from employee stock ownership plan (Note 16) — (11)
Accumulated other comprehensive income (Note 12) (755) (515)
Retained earnings 41,471 35,223
43,836 37,817
Less: common stock held in treasury, at cost (Note 20)
(145,364,000 shares and 148,819,000 shares) 5,965 6,004
Total shareholders’ equity 37,871 31,813
Total liabilities and shareholders’ equity $58,025 53,317
See Notes to Consolidated Financial Statements
CONSOLIDATED BALANCE SHEETS JOHNSON & JOHNSON AND SUBSIDIARIES