Johnson and Johnson 2006 Annual Report Download - page 52

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50 JOHNSON & JOHNSON 2006 ANNUAL REPORT
Assets
Current assets
Cash and cash equivalents (Notes 1, 14 and 15) $4,083 16,055
Marketable securities (Notes 1, 14 and 15) 1 83
Accounts receivable trade, less allowances for doubtful accounts $160 (2005, $164) 8,712 7,010
Inventories (Notes 1 and 2) 4,889 3,959
Deferred taxes on income (Note 8) 2,094 1,931
Prepaid expenses and other receivables 3,196 2,442
Total current assets 22,975 31,480
Marketable securities, non-current (Notes 1, 14 and 15) 16 20
Property, plant and equipment, net (Notes 1 and 3) 13,044 10,830
Intangible assets, net (Notes 1 and 7) 15,348 6,185
Goodwill, net (Notes 1 and 7) 13,340 5,990
Deferred taxes on income (Note 8) 3,210 1,138
Other assets (Note 5) 2,623 3,221
Total assets $70,556 58,864
Liabilities and Shareholders’ Equity
Current liabilities
Loans and notes payable (Note 6) $4,579 668
Accounts payable 5,691 4,315
Accrued liabilities 4,587 3,529
Accrued rebates, returns and promotions 2,189 2,017
Accrued salaries, wages and commissions 1,391 1,166
Accrued taxes on income 724 940
Total current liabilities 19,161 12,635
Long-term debt (Note 6) 2,014 2,017
Deferred taxes on income (Note 8) 1,319 211
Employee related obligations (Notes 5 and 13) 5,584 3,065
Other liabilities 3,160 2,226
Total liabilities 31,238 20,154
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
Accumulated other comprehensive income (Note 12) (2,118) (755)
Retained earnings 49,290 42,310
50,292 44,675
Less: common stock held in treasury, at cost (Note 20)
(226,612,000 shares and 145,364,000 shares)10,974 5,965
Total shareholders’ equity 39,318 38,710
Total liabilities and shareholders’ equity $70,556 58,864
Consolidated Balance Sheets Johnson & Johnson and Subsidiaries
At December 31, 2006 and January 1, 2006 (Dollars in Millions Except Share and Per Share Data) (Note 1) 2006 2005
See Notes to Consolidated Financial Statements