BALANCE SHEETS
(In millions)
June 30 2002 2003
Assets
Current assets:
Cash and equivalents $ 3,016  $ 6,438 
Short-term investments 35,636  42,610 
Total cash and short-term investments 38,652  49,048 
Accounts receivable, net 5,129  5,196 
Inventories 673  640 
Defered income taxes 2,112  2,506 
Other 2,010  1,583 
Total current assets 48,576  58,973 
Property and equipment, net 2,268  2,223 
Equity and other investments 14,191  13,692 
Goodwill 1,426  3,128 
Intangible assets, net 243  384 
Other long-term assets 942  1,171 
Total assets $ 67,646  $ 79,571 
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 1,208  $ 1,573 
Accrued compensation 1,145  1,416 
Income taxes 2,022  2,044 
Short-term unearned revenue 5,920  7,225 
Other 2,449  1,716 
Total current liabilities 12,744  13,974 
Long-term unearned revenue 1,823  1,790 
Deferred income taxes 398  1,731 
Other long-term liabilities 501  1,056 
Commitments and contingencies
Stockholders' equity:
Common stock and paid-in capital — shares authorized 24,000;   Shares issued and outstanding 10,718 and 10,771 31,647 35,344
Retained earnings, including accumulated other comprehensive
  income of $ 583 and $ 1,840		 20,533 25,676
Total stockholders' equity 52,180  61,020 
Total liabilities and stockholders' equity $ 67,646  $ 79,571 


See accompanying notes.