Apple 1996 Annual Report Download - page 28

Consolidated Balance Sheets
(Dollars in millions)
See accompanying notes.
26
September 27, 1996, and September 29, 1995
1996 1995
Assets:
Current assets:
Cash and cash equivalents $1,552 $ 756
Short-term investments 193 196
Accounts receivable, net of allowance
for doubtful accounts of $91($87 in 1995)1,496 1,931
Inventories:
Purchased parts 213 841
Work in process 43 291
Finished goods 406 643
662 1,775
Deferred tax assets 342 251
Other current assets 270 315
Total current assets 4,515 5,224
Property, plant, and equipment:
Land and buildings 480 504
Machinery and equipment 544 638
Office furniture and equipment 136 145
Leasehold improvements 188 205
1,348 1,492
Accumulated depreciation and
amortization (750) (781)
Net property, plant, and equipment 598 711
Other assets 251 296
$5,364 $ 6,231
Liabilities and Shareholders' Equity:
Current liabilities:
Notes payable to banks $ 186 $ 461
Accounts payable 791 1,165
Accrued compensation and employee benefits 120 131
Accrued marketing and distribution 257 206
Accrued warranty and related 181 85
Accrued restructuring costs 117 --
Other current liabilities 351 277
Total current liabilities 2,003 2,325
Long-term debt 949 303
Deferred tax liabilities 354 702
Commitments and contingencies
Shareholders' equity:
Common stock, no par value;
320,000,000 shares authorized;
124,496,972 shares issued and
outstanding in 1996
(122,921,601 shares in 1995) 439 398
Retained earnings 1,634 2,464
Other (15) 39
Total shareholders' equity 2,058 2,901
$5,364 $6,231