Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2011
Dec. 25, 2010
Current assets:    
Cash and cash equivalents $ 5,065 $ 5,498
Short-term investments 5,181 11,294
Trading assets 4,591 5,093
Accounts receivable, net of allowance for doubtful accounts of $36 ($28 in 2010) 3,650 2,867
Inventories 4,096 3,757
Deferred tax assets 1,700 1,488
Other current assets 1,589 1,614
Total current assets 25,872 31,611
Property, plant and equipment, net 23,627 17,899
Marketable equity securities 562 1,008
Other long-term investments 889 3,026
Goodwill 9,254 4,531
Identified intangible assets, net 6,267 860
Other long-term assets 4,648 4,251
Total assets 71,119 63,186
Current liabilities:    
Short-term debt 247 38
Accounts payable 2,956 2,290
Accrued compensation and benefits 2,948 2,888
Accrued advertising 1,134 1,007
Deferred income 1,929 747
Other accrued liabilities 2,814 2,357
Total current liabilities 12,028 9,327
Long-term debt 7,084 2,077
Long-term deferred tax liabilities 2,617 926
Other long-term liabilities 3,479 1,426
Commitments and contingencies (Notes 23 and 29)      
Stockholders' equity:    
Preferred stock, $0.001 par value, 50 shares authorized; none issued 0 0
Common stock, $0.001 par value, 10,000 shares authorized; 5,000 shares issued and outstanding (5,581 issued and 5,511 outstanding in 2010) and capital in excess of par value 17,036 16,178
Accumulated other comprehensive income (loss) (781) 333
Retained earnings 29,656 32,919
Total stockholders' equity 45,911 49,430
Total liabilities and stockholders' equity $ 71,119 $ 63,186