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| (In millions - except per share amounts) |
1996 |
|
1995 |
|
| Assets |
|
|
|
| Current assets: |
|
|
|
| |
Cash and cash equivalents |
$ 4,165 |
|
$ 1,463 |
| |
Short-term investments |
3,742 |
|
995 |
| |
Trading assets |
87 |
|
- |
| |
Accounts receivable, net of allowance for doubtful |
|
|
|
| |
|
accounts of $68 ($57 in 1995) |
3,723 |
|
3,116 |
| |
Inventories |
1,293 |
|
2,004 |
| |
Deferred tax assets |
570 |
|
408 |
| |
Other current assets |
104 |
|
111 |
|
|
|
|
| Total current assets |
13,684 |
|
8,097 |
|
|
|
|
| Property, plant and equipment: |
|
|
|
| |
Land and buildings |
4,372 |
|
3,145 |
| |
Machinery and equipment |
8,729 |
|
7,099 |
| |
Construction in progress |
1,161 |
|
1,548 |
| |
|
|
|
|
| |
|
14,262 |
|
11,792 |
| |
Less accumulated depreciation |
5,775 |
|
4,321 |
| |
|
|
|
|
| Property, plant and equipment, net |
8,487 |
|
7,471 |
| |
|
|
|
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| Long-term investments |
1,353 |
|
1,653 |
| Other assets |
211 |
|
283 |
| |
|
|
|
|
|
Total assets |
$ 23,735 |
|
$ 17,504 |
| |
|
|
|
|
| Liabilities and stockholders' equity |
|
|
|
| Current liabilities: |
|
|
|
|
Short-term debt |
$ 389 |
|
$ 346 |
|
Accounts payable |
969 |
|
864 |
|
Deferred income on shipments to distributors |
474 |
|
304 |
|
Accrued compensation and benefits |
1,128 |
|
758 |
|
Accrued advertising |
410 |
|
218 |
|
Other accrued liabilities |
507 |
|
328 |
|
Income taxes payable |
986 |
|
801 |
|
|
|
|
|
| Total current liabilities |
4,863 |
|
3,619 |
|
|
|
|
|
| Long-term debt |
728 |
|
400 |
| Deferred tax liabilities |
997 |
|
620 |
| Put warrants |
275 |
|
725 |
| Commitments and contingencies |
|
|
|
| Stockholders' equity: |
|
|
|
|
Preferred Stock, $.001 par value, 50 shares authorized; |
|
|
|
|
|
none issued |
- |
|
- |
|
Common Stock, $.001 par value, 1,400 shares authorized; |
|
|
|
|
|
821 issued and outstanding in 1996 and 1995, |
|
|
|
|
|
and capital in excess of par value |
2,897 |
|
2,583 |
|
Retained earnings |
13,975 |
|
9,557 |
|
|
|
|
| Total stockholders' equity |
16,872 |
|
12,140 |
|
|
|
|
|
Total liabilities and stockholders' equity |
$ 23,735 |
|
$ 17,504 |
|
|
|
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| See accompanying notes. |
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