Verizon Wireless 2007 Annual Report Download - page 43

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41
Consolidated Balance Sheets
VERIZON COMMUNICATIONS INC. AND SUBSIDIARIES
(dollars in millions, except per share amounts)
At December 31, 2007 2006
Assets
Current assets
Cash and cash equivalents $ 1,153 $ 3,219
Short-term investments 2,244 2,434
Accounts receivable, net of allowances of $1,025 and $1,139 11,736 10,891
Inventories 1,729 1,514
Assets held for sale –2,592
Prepaid expenses and other 1,836 1,888
Total current assets 18,698 22,538
Plant, property and equipment 213,994 204,109
Less accumulated depreciation 128,700 121,753
85,294 82,356
Investments in unconsolidated businesses 3,372 4,868
Wireless licenses 50,796 50,959
Goodwill 5,245 5,655
Other intangible assets, net 4,988 5,140
Other assets 18,566 17,288
Total assets $ 186,959 $ 188,804
Liabilities and Shareowners’ Investment
Current liabilities
Debt maturing within one year $ 2,954 $ 7,715
Accounts payable and accrued liabilities 14,462 14,320
Liabilities related to assets held for sale –2,154
Other 7,325 8,091
Total current liabilities 24,741 32,280
Long-term debt 28,203 28,646
Employee benet obligations 29,960 30,779
Deferred income taxes 14,784 16,270
Other liabilities 6,402 3,957
Minority interest 32,288 28,337
Shareowners’ investment
Series preferred stock ($.10 par value; none issued) ––
Common stock ($.10 par value; 2,967,610,119 shares and 2,967,652,438 shares issued) 297 297
Contributed capital 40,316 40,124
Reinvested earnings 17,884 17,324
Accumulated other comprehensive loss (4,506) (7,530)
Common stock in treasury, at cost (3,489) (1,871)
Deferred compensation-employee stock ownership plans and other 79 191
Total shareowners’ investment 50,581 48,535
Total liabilities and shareowners’ investment $ 186,959 $ 188,804
See Notes to Consolidated Financial Statements.