Medtronic 2011 Annual Report Download - page 52
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48 Medtronic, Inc.
Consolidated Balance Sheets
(in millions, except per share data)
April 29,
2011
April 30,
2010
Assets
Current assets:
Cash and cash equivalents $ 1,382 $ 1,400
Short-term investments 1,046 2,375
Accounts receivable, less allowances of $97 and $67, respectively3,822 3,335
Inventories 1,695 1,481
Deferred tax assets, net 605 544
Prepaid expenses and other current assets 567 704
Total current assets 9,117 9,839
Property, plant, and equipment, net 2,511 2,421
Goodwill 9,537 8,391
Other intangible assets, net 2,777 2,559
Long-term investments 6,120 4,632
Other assets 362 248
Total assets $ 30,424 $ 28,090
Liabilities and Shareholders’ Equity
Current liabilities:
Short-term borrowings $ 1,723 $ 2,575
Accounts payable511 420
Accrued compensation 896 1,001
Accrued income taxes 50 235
Other accrued expenses 1,534 890
Total current liabilities 4,714 5,121
Long-term debt8,112 6,944
Long-term accrued compensation and retirement benefits 480 516
Long-term accrued income taxes 496 595
Long-term deferred tax liabilities, net 220 89
Other long-term liabilities 434 196
Total liabilities 14,456 13,461
Commitments and contingencies (Notes 4, 15 and 16) — —
Shareholders’ equity:
Preferred stock — par value $1.00; 2.5 million shares authorized, none outstanding — —
Common stock — par value $0.10; 1.6 billion shares authorized, 1,070,162,109 and
1,097,342,586 shares issued and outstanding, respectively107 110
Retained earnings 16,085 14,826
Accumulated other comprehensive loss (224) (307)
Total shareholders’ equity15,968 14,629
Total liabilities and shareholders’ equity$ 30,424 $ 28,090
The accompanying notes are an integral part of these consolidated financial statements.