Apple 1998 Annual Report Download - page 35
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CONSOLIDATED BALANCE SHEETS
(IN MILLIONS, EXCEPT SHARE AMOUNTS)
See accompanying notes to consolidated financial statements.
33
SEPTEMBER 25, 1998 AND SEPTEMBER 26, 1997 1998 1997
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ASSETS:
Current assets:
Cash and cash equivalents.................................................................... $ 1,481 $ 1,230
Short-term investments....................................................................... 819 229
Accounts receivable, less allowances of $81 and $99, respectively............................ 955 1,035
Inventories.................................................................................. 78 437
Deferred tax assets.......................................................................... 182 259
Other current assets......................................................................... 183 234
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Total current assets....................................................................... 3,698 3,424
Property, plant, and equipment, net.......................................................... 348 486
Other assets................................................................................. 243 323
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Total assets............................................................................... $ 4,289 $ 4,233
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LIABILITIES AND SHAREHOLDERS' EQUITY:
Current liabilities:
Notes payable to banks....................................................................... $ -- $ 25
Accounts payable............................................................................. 719 685
Accrued expenses............................................................................. 801 1,108
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Total current liabilities.................................................................. 1,520 1,818
Long-term debt................................................................................. 954 951
Deferred tax liabilities....................................................................... 173 264
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Total liabilities.......................................................................... 2,647 3,033
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Commitments and contingencies
Shareholders' equity:
Series A non-voting convertible preferred stock, no par value; 150,000 shares authorized,
issued and outstanding..................................................................... 150 150
Common stock, no par value; 320,000,000 shares authorized; 135,192,769 and 127,949,220 shares
issued and outstanding, respectively....................................................... 633 498
Retained earnings............................................................................ 898 589
Other........................................................................................ (39) (37)
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Total shareholders' equity................................................................. 1,642 1,200
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Total liabilities and shareholders' equity................................................. $ 4,289 $ 4,233
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