America Online 2015 Annual Report Download - page 42

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Consolidated Balance Sheets
(dollars in millions, except per share amounts)
At December31, 2015 2014
Assets
Current assets
Cash and cash equivalents $ 4,470 $ 10,598
Short-term investments 350 555
Accounts receivable, net of allowances of $882 and $739 13,457 13,993
Inventories 1,252 1,153
Assets held for sale 792 552
Prepaid expenses and other 1,959 2,648
Total current assets 22,280 29,499
Plant, property and equipment 220,163 230,508
Less accumulated depreciation 136,622 140,561
Plant, property and equipment, net 83,541 89,947
Investments in unconsolidated businesses 796 802
Wireless licenses 86,575 75,341
Goodwill 25,331 24,639
Other intangible assets, net 8,338 5,728
Non- current assets held for sale 10,267 –
Deposit for wireless licenses – 921
Other assets 7,512 5,739
Total assets $ 244,640 $ 232,616
Liabilities and Equity
Current liabilities
Debt maturing within one year $ 6,489 $ 2,735
Accounts payable and accrued liabilities 19,362 16,680
Liabilities related to assets held for sale 463 –
Other 8,738 8,572
Total current liabilities 35,052 27,987
Long-term debt 103,705 110,536
Employee benet obligations 29,957 33,280
Deferred income taxes 45,484 41,563
Non- current liabilities related to assets held for sale 959 –
Other liabilities 11,641 5,574
Equity
Series preferred stock ($.10 par value; none issued) – –
Common stock ($.10 par value; 4,242,374,240 shares issued in each period) 424 424
Contributed capital 11,196 11,155
Reinvested earnings 11,246 2,447
Accumulated other comprehensive income 550 1,111
Common stock in treasury, at cost (7,416) (3,263)
Deferred compensation — employee stock ownership plans and other 428 424
Noncontrolling interests 1,414 1,378
Total equity 17,842 13,676
Total liabilities and equity $ 244,640 $ 232,616
See Notes to Consolidated Financial Statements
40 Verizon Communications Inc. and Subsidiaries