Consolidated Balance Sheets
| December 31, | ||||||||
|
(in millions, except share data in thousands) |
2008 | 2007 | ||||||
|
Assets |
||||||||
|
Cash and cash equivalents |
$ | 1,229 | $ | 1,099 | ||||
|
Accounts receivable, net |
2,184 | 2,457 | ||||||
|
Billed portion of finance receivables, net |
254 | 304 | ||||||
|
Finance receivables, net |
2,461 | 2,693 | ||||||
|
Inventories |
1,232 | 1,305 | ||||||
|
Other current assets |
790 | 682 | ||||||
|
Total current assets |
8,150 | 8,540 | ||||||
|
Finance receivables due after one year, net |
4,563 | 5,051 | ||||||
|
Equipment on operating leases, net |
594 | 587 | ||||||
|
Land, buildings and equipment, net |
1,419 | 1,587 | ||||||
|
Investments in affiliates, at equity |
1,080 | 932 | ||||||
|
Intangible assets, net |
610 | 621 | ||||||
|
Goodwill |
3,182 | 3,448 | ||||||
|
Deferred tax assets, long-term |
1,692 | 1,349 | ||||||
|
Other long-term assets |
1,157 | 1,428 | ||||||
|
Total Assets |
$ | 22,447 | $ | 23,543 | ||||
|
Liabilities and Shareholders’ Equity |
||||||||
|
Short-term debt and current portion of long-term debt |
$ | 1,610 | $ | 525 | ||||
|
Accounts payable |
1,446 | 1,367 | ||||||
|
Accrued compensation and benefits costs |
625 | 673 | ||||||
|
Other current liabilities |
1,769 | 1,512 | ||||||
|
Total current liabilities |
5,450 | 4,077 | ||||||
|
Long-term debt |
6,774 | 6,939 | ||||||
|
Liability to subsidiary trust issuing preferred securities |
648 | 632 | ||||||
|
Pension and other benefit liabilities |
1,747 | 1,115 | ||||||
|
Post-retirement medical benefits |
896 | 1,396 | ||||||
|
Other long-term liabilities |
694 | 796 | ||||||
|
Total Liabilities |
16,209 | 14,955 | ||||||
|
Common stock, including additional paid-in-capital |
3,313 | 4,096 | ||||||
|
Treasury stock, at cost |
— | (31 | ) | |||||
|
Retained earnings |
5,341 | 5,288 | ||||||
|
Accumulated other comprehensive loss |
(2,416 | ) | (765 | ) | ||||
|
Total Shareholders’ Equity |
6,238 | 8,588 | ||||||
|
Total Liabilities and Shareholders’ Equity |
$ | 22,447 | $ | 23,543 | ||||
|
Shares of common stock issued |
864,777 | 919,013 | ||||||
|
Treasury stock |
— | (1,836 | ) | |||||
|
Shares of common stock outstanding |
864,777 | 917,177 | ||||||
The accompanying notes are an integral part of these Consolidated Financial Statements.