Financial Review

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BALANCE SHEETS

(In millions)
June 30, 2009 2008
Assets
Current assets:
Cash and cash equivalents $(, 6,076 $10,339
Short-term investments
(including securities pledged as collateral of $1,540 and $2,491)
25,371 13,323
Total cash, cash equivalents, and short-term investments 31,447 23,662
Accounts receivable, net of allowance for doubtful accounts of $451 and $153 11,192 13,589
Inventories 717 985
Deferred income taxes 2,213 2,017
Other 3,711 2,989
Total current assets 49,280 43,242
Property and equipment, net of accumulated depreciation of $7,547 and $6,302 7,535 6,242
Equity and other investments 4,933 6,588
Goodwill 12,503 12,108
Intangible assets, net 1,759 1,973
Deferred income taxes 279 949
Other long-term assets 1,599 1,691
Total assets $ 77,888 $72,793
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $((3,324 $ 4,034
Short-term debt 2,000
Accrued compensation 3,156 2,934
Income taxes 725 3,248
Short-term unearned revenue 13,003 13,397
Securities lending payable 1,684 2,614
Other 3,142 3,659
Total current liabilities 27,034 29,886
Long-term debt 3,746
Long-term unearned revenue 1,281 1,900
Other long-term liabilities 6,269 4,721
Commitments and contingencies
Stockholders’ equity:
Common stock and paid-in capital – shares authorized 24,000; outstanding 8,908 and 9,151 62,382 62,849
Retained deficit, including accumulated other comprehensive income of $969 and $1,140 (22,824) (26,563)
Total stockholders’ equity 39,558 36,286
Total liabilities and stockholders’ equity $ 77,888 $ 72,793

See accompanying notes.