Johnson & Johnson - Index

Johnson & Johnson - report - Index

Consolidated Balance Sheets
Johnson & Johnson and Subsidiaries
At December 30, 2007 and December 31, 2006 (Dollars in Millions Except Share and Per Share Data) (Note 1) 2007 2006
Assets
Current assets
Cash and cash equivalents (Notes 1 and 14) $ 7,770 4,083
Marketable securities (Notes 1 and 14) 1,545 1
Accounts receivable trade, less allowances for doubtful accounts $193 (2006, $160) 9,444 8,712
Inventories (Notes 1 and 2) 5,110 4,889
Deferred taxes on income (Note 8) 2,609 2,094
Prepaid expenses and other receivables 3,467 3,196
Total current assets 29,945 22,975
Marketable securities, non-current (Notes 1 and 14) 2 16
Property, plant and equipment, net (Notes 1 and 3) 14,185 13,044
Intangible assets, net (Notes 1 and 7) 14,640 15,348
Goodwill, net (Notes 1 and 7) 14,123 13,340
Deferred taxes on income (Note 8) 4,889 3,210
Other assets (Note 5) 3,170 2,623
Total assets $80,954 70,556
Liabilities and Shareholders’ Equity
Current liabilities
Loans and notes payable (Note 6) $ 2,463 4,579
Accounts payable 6,909 5,691
Accrued liabilities 6,412 4,587
Accrued rebates, returns and promotions 2,318 2,189
Accrued salaries, wages and commissions 1,512 1,391
Accrued taxes on income 223 724
Total current liabilities 19,837 19,161
Long-term debt (Note 6) 7,074 2,014
Deferred taxes on income (Note 8) 1,493 1,319
Employee related obligations (Notes 5 and 13) 5,402 5,584
Other liabilities 3,829 3,160
Total liabilities 37,635 31,238
Shareholders’ equity
Preferred stock — without par value
(authorized and unissued 2,000,000 shares) — —
Common stock — par value $1.00 per share (Note 20)
(authorized 4,320,000,000 shares; issued 3,119,843,000 shares) 3,120 3,120
Accumulated other comprehensive income (Note 12) (693) (2,118)
Retained earnings 55,280 49,290
57,707 50,292
Less: common stock held in treasury, at cost (Note 20)
(279,620,000 shares and 226,612,000 shares) 14,388 10,974
Total shareholders’ equity 43,319 39,318
Total liabilities and shareholders’ equity $80,954 70,556
See Notes to Consolidated Financial Statements
48 JOHNSON & JOHNSON 2007 ANNUAL REPORT