Balance Sheets

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BALANCE SHEETS

(In millions)      
June 30, 2011   2010
Assets      
Current assets:      
Cash and cash equivalents $         9,610   $         5,505
Short-term investments (including securities loaned of $1,181 and $62)          43,162            31,283
Total cash, cash equivalents, and short-term investments          52,772            36,788
Accounts receivable, net of allowance for doubtful accounts of $333 and $375          14,987            13,014
Inventories            1,372                 740
Deferred income taxes            2,467              2,184
Other            3,320              2,950
Total current assets          74,918            55,676
Property and equipment, net of accumulated depreciation of $9,829 and $8,629            8,162              7,630
Equity and other investments          10,865              7,754
Goodwill          12,581            12,394
Intangible assets, net               744              1,158
Other long-term assets            1,434              1,501
Total assets $      108,704   $       86,113
Liabilities and stockholders’ equity      
Current liabilities:      
Accounts payable $         4,197   $         4,025
Short-term debt                  0              1,000
Accrued compensation            3,575              3,283
Income taxes               580              1,074
Short-term unearned revenue          15,722            13,652
Securities lending payable            1,208                 182
Other            3,492              2,931
Total current liabilities          28,774            26,147
Long-term debt          11,921              4,939
Long-term unearned revenue            1,398              1,178
Deferred income taxes            1,456                 229
Other long-term liabilities            8,072              7,445
Total liabilities          51,621            39,938
Commitments and contingencies      
Stockholders’ equity:      
Common stock and paid-in capital – shares authorized 24,000; outstanding 8,376 and 8,668          63,415            62,856
Retained deficit, including accumulated other comprehensive income of $1,863 and $1,055           (6,332 )           (16,681 )
Total stockholders’ equity          57,083            46,175
Total liabilities and stockholders’ equity $      108,704   $       86,113

See accompanying notes.