America Online 2009 Annual Report Download - page 68

Table of Contents
AOL Inc.
Consolidated Balance Sheets
(In millions, except per share amounts)
December 31,
2009 2008
Assets
Current assets:
Cash and equivalents $ 147.0 $ 134.7
Accounts receivable, net of allowances of $31.7 and $39.8, respectively 462.4 500.2
Receivables from Time Warner Inc. ("Time Warner") — 39.5
Prepaid expenses and other current assets 33.3 33.5
Deferred income taxes 44.7 25.8
Assets held for sale — 6.7
Total current assets 687.4 740.4
Property and equipment, net 704.8 790.6
Long-term receivables from Time Warner — 37.7
Goodwill 2,184.2 2,161.5
Intangible assets, net 224.7 369.2
Long-term deferred income taxes 136.8 734.2
Other long-term assets 25.2 27.7
Total assets $ 3,963.1 $ 4,861.3
Liabilities and Equity
Current liabilities:
Accounts payable $ 100.5 $ 52.2
Accrued compensation and benefits 91.4 51.1
Accrued expenses and other current liabilities 413.6 302.4
Deferred revenue 113.5 140.1
Payables to Time Warner — 58.8
Current portion of obligations under capital leases 32.4 25.0
Total current liabilities 751.4 629.6
Obligations under capital leases 41.5 33.7
Long-term obligations to Time Warner — 377.0
Restructuring liabilities 28.3 9.0
Deferred income taxes 9.3 11.5
Other long-term liabilities 69.7 62.8
Total liabilities 900.2 1,123.6
Commitments and contingencies (See Note 11)
Equity:
Common stock, $0.01 par value, 105.8 million shares issued and outstanding at December 31, 2009 1.1 —
Divisional equity — 4,038.6
Additional paid-in capital 3,355.5 —
Accumulated other comprehensive loss, net (275.1) (302.4)
Retained earnings (accumulated deficit) for the period subsequent to November 2, 2009 (20.4) —
Total AOL Inc. stockholders' equity 3,061.1 3,736.2
Noncontrolling interest 1.8 1.5
Total equity 3,062.9 3,737.7
Total liabilities and equity $ 3,963.1 $ 4,861.3
See accompanying notes.
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