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Consolidated Balance Sheet
(dollars in thousands)
| December 31 | 2007 | 2006 | 2005 |
| Assets | |||
| Current Assets: Cash and cash equivalents |
$2,456,384 | $521,192 | $2,893,687 |
| Investments, including $307,500 of investments measured at fair value at December 31, 2007 | 364,443 | 852,243 | 62,406 |
| Trade receivables, less allowances of — 2007: $258,288; 2006: $215,443; 2005: $203,683 |
4,946,876 | 4,231,142 | 3,576,794 |
| Inventories: | |||
| Finished products | 1,677,083 | 1,338,349 | 1,203,557 |
| Work in process | 681,634 | 686,425 | 630,267 |
| Materials | 592,725 | 781,647 | 708,155 |
| Total inventories | 2,951,442 | 2,806,421 | 2,541,979 |
| Deferred income taxes | 2,109,872 | 1,716,916 | 1,248,569 |
| Other prepaid expenses and receivables | 1,213,716 | 1,153,969 | 1,062,593 |
| Total Current Assets | 14,042,733 | 11,281,883 | 11,386,028 |
Investments |
1,125,262 | 1,229,873 | 134,013 |
Property and Equipment, at Cost: |
|||
| Land | 494,021 | 488,342 | 370,949 |
| Buildings | 3,589,050 | 3,228,485 | 2,655,356 |
| Equipment | 10,393,402 | 9,947,503 | 8,813,517 |
| Construction in progress | 1,121,328 | 737,609 | 920,599 |
| 15,597,801 | 14,401,939 | 12,760,421 | |
| Less: accumulated depreciation and amortization | 8,079,652 | 7,455,504 | 6,757,280 |
| Net Property and Equipment | 7,518,149 | 6,946,435 | 6,003,141 |
Intangible Assets, net of amortization |
5,720,478 | 6,403,619 | 4,741,647 |
| Goodwill | 10,128,841 | 9,449,281 | 5,219,247 |
| Deferred Income Taxes and Other Assets | 1,178,461 | 867,081 | 1,657,127 |
| $39,713,924 | $36,178,172 | $29,141,203 |
The accompanying notes to consolidated financial statements are an integral part of this statement.
| December 31 | 2007 | 2006 | 2005 |
| Liabilities and Shareholders' Investment | |||
| Current Liabilities: Short-term borrowings |
$1,827,361 | $5,305,985 | $212,447 |
| Trade accounts payable | 1,219,529 | 1,175,590 | 1,032,516 |
| Salaries, wages and commissions | 859,784 | 807,283 | 625,254 |
| Other accrued liabilities | 3,713,104 | 3,850,723 | 2,783,473 |
| Dividends payable | 504,540 | 453,994 | 423,335 |
| Income taxes payable | 80,406 | 262,344 | 488,926 |
| Current portion of long-term debt | 898,554 | 95,276 | 1,849,563 |
| Total Current Liabilities | 9,103,278 | 11,951,195 | 7,415,514 |
| Long-term Debt | 9,487,789 | 7,009,664 | 4,571,504 |
| Post-employment Obligations and Other Long-term Liabilities | 3,344,317 | 3,163,127 | 2,155,837 |
| Deferred Income Taxes | — | — | 583,077 |
| Commitments and Contingencies | |||
Shareholders' Investment: Preferred shares, one dollar par value Authorized — 1,000,000 shares, none issued |
— | — | — |
| Common shares, without par value Authorized — 2,400,000,000 shares Issued at stated capital amount — Shares: 2007: 1,580,854,677; 2006: 1,550,590,438; 2005: 1,553,769,958 |
6,104,102 | 4,290,929 | 3,477,460 |
| Common shares held in treasury, at cost —
Shares: 2007: 30,944,537; 2006: 13,347,272; 2005: 14,534,979 |
(1,213,134) | (195,237) | (212,255) |
| Earnings employed in the business | 10,805,809 | 9,568,728 | 10,404,568 |
| Accumulated other comprehensive income (loss) | 2,081,763 | 389,766 | 745,498 |
| Total Shareholders' Investment | 17,778,540 | 14,054,186 | 14,415,271 |
| $39,713,924 | $36,178,172 | $29,141,203 |
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