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2009 Consolidated Statements (3.6 MB)
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Consolidated Balance Sheets
Assets
| Amounts in millions; June 30 | 2009 | 2008 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 4,781 | $ 3,313 |
| Accounts receivable | 5,836 | 6,761 |
| Inventories | ||
| Materials and supplies | 1,557 | 2,262 |
| Work in process | 672 | 765 |
| Finished goods | 4,651 | 5,389 |
| Total inventories | 6,880 | 8,416 |
| Deferred income taxes | 1,209 | 2,012 |
| Prepaid expenses and other current assets | 3,199 | 4,013 |
| TOTAL CURRENT ASSETS | 21,905 | 24,515 |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Buildings | 6,724 | 7,052 |
| Machinery and equipment | 29,042 | 30,145 |
| Land | 885 | 889 |
| Total property, plant and equipment | 36,651 | 38,086 |
| Accumulated depreciation | (17,189) | (17,446) |
| NET PROPERTY, PLANT AND EQUIPMENT | 19,462 | 20,640 |
| GOODWILL AND OTHER INTANGIBLE ASSETS | ||
| Goodwill | 56,512 | 59,767 |
| Trademarks and other intangible assets, net | 32,606 | 34,233 |
| NET GOODWILL AND OTHER INTANGIBLE ASSETS | 89,118 | 94,000 |
| OTHER NONCURRENT ASSETS | 4,348 | 4,837 |
| TOTAL ASSETS | $134,833 | $143,992 |
Liabilities and Shareholders’ Equity
| Amounts in millions; June 30 | 2009 | 2008 |
|---|---|---|
| CURRENT LIABILITIES | ||
| Accounts payable | $ 5,980 | $ 6,775 |
| Accrued and other liabilities | 8,601 | 11,099 |
| Debt due within one year | 16,320 | 13,084 |
| TOTAL CURRENT LIABILITIES | 30,901 | 30,958 |
| LONG-TERM DEBT | 20,652 | 23,581 |
| DEFERRED INCOME TAXES | 10,752 | 11,805 |
| OTHER NONCURRENT LIABILITIES | 9,429 | 8,154 |
| TOTAL LIABILITIES | 71,734 | 74,498 |
| SHAREHOLDERS’ EQUITY | ||
| Convertible Class A preferred stock, stated value $1 per share (600 shares authorized) | 1,324 | 1,366 |
| Non-Voting Class B preferred stock, stated value $1 per share (200 shares authorized) | — | — |
| Common stock, stated value $1 per share (10,000 shares authorized; shares issued: 2009 — 4,007.3, 2008 — 4,001.8) | 4,007 | 4,002 |
| Additional paid-in capital | 61,118 | 60,307 |
| Reserve for ESOP debt retirement | (1,340) | (1,325) |
| Accumulated other comprehensive income (loss) | (3,358) | 3,746 |
| Treasury stock, at cost (shares held: 2009 — 1,090.3, 2008 — 969.1) | (55,961) | (47,588) |
| Retained earnings | 57,309 | 48,986 |
| TOTAL SHAREHOLDERS’ EQUITY | 63,099 | 69,494 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $134,833 | $143,992 |
See accompanying Notes to Consolidated Financial Statements.
