MARKET LEADER – BALANCE SHEET ANALYSIS ($ in millions, except as specified)
12/31/09
9/30/09
6/30/09
3/31/09
12/31/08
9/30/08
6/30/08
3/31/08
25 26 -
32 21 -
34 21 0 -
31 26 -
48 11 0 -
62 0 -
63 0 -
63 0 -
Assets Cash Short-term investments Accounts receivable Inventory Other current assets Total current assets PP&E Goodwill and other intangibles Long-term investments Other long-term assets
6
1
1
1
2
3
3
3
57 5 2 0
54 5 3 0
57 5 3 0
58 4 4 1
60 5 4 1
65 5 9 2
66 5 10 2
66 5 10 2
-
-
-
-
-
-
-
-
64
62
65
67
69
81
82
83
Accounts payable Short-term debt
1 -
0 -
1 -
1 -
1 -
1 2
1 2
1 2
Other current liabilities
3
3
3
3
4
3
4
4
Total current liabilities Long-term debt
4 -
3 -
4 -
3 -
4 -
6 -
7 -
7 -
Other long-term liabilities
1
1
1
0
0
1
1
1
5
4
4
4
5
7
7
8
-
-
-
-
-
-
-
-
Shareholders' equity
60
58
60
63
65
74
75
76
Shares out (avg) (mn)
24
24
24
24
24
24
24
25
52 52 57 4 15x 14x 57 5 53 60 2 58 93% <0% 7
54 54 54 3 16x 16x 54 4 50 58 3 55 93% <0% 2
56 56 57 4 16x 15x 57 4 52 60 3 57 93% <0% 2
58 58 58 3 17x 17x 58 4 54 63 4 59 94% <0% 2
59 59 60 4 14x 14x 60 5 56 65 4 61 93% <0% 2
64 2 62 65 6 10x 10x 65 7 58 74 9 65 90% <0% 3
65 2 63 66 7 10x 9x 66 7 58 75 10 65 90% <0% 3
65 2 64 66 7 9x 9x 66 8 58 76 10 66 89% <0% 3
4% 3% 4% 3% -4% 5% n/m n/m 800% 214%
-4% -4% -4% -3% -3% -4% n/m n/m -86% -5%
-3% -4% -3% -3% -3% -4% n/m n/m 0% 29%
-4% -3% -3% -2% -3% -3% n/m n/m 0% 0%
-14% -12% -6% -5% -4% -4% n/m n/m -30% -45%
-2% -1% -1% -1% -2% -1% n/m n/m 0% 15%
-1% -1% -1% 0% -1% 1% n/m n/m 0% 0%
n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Total assets Liabilities and Shareholders' Equity
Total liabilities Preferred stock
Selected Values and Ratios Cash and investments Debt Net cash and investments Current assets Current liabilities Current ratio Acid-test ratio Current assets Total liabilities and preferred NET NET current assets Shareholders' equity Goodwill and other intangibles Tangible book value Tangible book to tangible assets Net debt to tangible equity Capital employed Balance Sheet Trends (sequential) ∆ total assets ∆ shareholders' equity ∆ tangible shareholders' equity ∆ tangible book per share ∆ net cash and investments ∆ net net current assets ∆ accounts receivable ∆ inventory ∆ accounts payable ∆ capital employed
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