Annual Report 2007 - Financials


	December 31,
(in millions, except share data in thousands)	2007			2006
Assets
Cash and cash equivalents	$	1,099		$	1,399
Short-term investments		–			137
Total cash, cash equivalents and short-term investments		1,099			1,536
Accounts receivable, net		2,457			2,199
Billed portion of finance receivables, net		304			273
Finance receivables, net		2,693			2,649
Inventories		1,305			1,163
Other current assets		682			934
Total current assets		8,540			8,754
Finance receivables due after one year, net		5,051			4,922
Equipment on operating leases, net		587			481
Land, buildings and equipment, net		1,587			1,527
Investments in affiliates, at equity		932			874
Intangible assets, net		621			286
Goodwill		3,448			2,024
Deferred tax assets, long-term		1,349			1,790
Other long-term assets		1,428			1,051
Total Assets	$	23,543		$	21,709

Liabilities and Shareholders’ Equity
Short-term debt and current portion of long-term debt	$	525		$	1,485
Accounts payable		1,367			1,133
Accrued compensation and benefits costs		673			663
Other current liabilities		1,512			1,417
Total current liabilities		4,077			4,698
Long-term debt		6,939			5,660
Liability to subsidiary trust issuing preferred securities		632			624
Pension and other benefit liabilities		1,115			1,336
Post-retirement medical benefits		1,396			1,490
Other long-term liabilities		796			821
Total Liabilities		14,955			14,629

Common stock, including additional paid-in-capital		4,096			4,666
Treasury stock, at cost		(31	)		(141	)
Retained earnings		5,288			4,202
Accumulated other comprehensive loss		(765	)		(1,647	)
Total Shareholders’ Equity		8,588			7,080
Total Liabilities and Shareholders’ Equity	$	23,543		$	21,709

Shares of common stock issued		919,013			954,568
Treasury stock		(1,836	)		(8,363	)
Shares of common stock outstanding		917,177			946,205

The accompanying notes are an integral part of these Consolidated Financial Statements.