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Annual Report 1996


Consolidated Balance Sheet
Polaroid Corporation and Subsidiary Companies
 

December 31,

(In millions)

1996

1995


Assets    
Current assets    
Cash and cash equivalents

$72.8

$73.3

Short-term investments

5.5

9.8

Receivables, less allowances of $24.1 in 1996 and $28.0 in 1995

535.2

550.4

Inventories (Note 5)

548.8

615.5

Prepaid expenses and other assets (Note 4)

224.1

200.3

Total current assets

1,386.4

1,449.3

     
Property, plant and equipment    
Land

35.0

35.9

Buildings

352.3

355.1

Machinery and equipment

1,663.5

1,649.3

Construction in process

112.8

124.1

Total property, plant and equipment

2,163.6

2,164.4

Less accumulated depreciation

1,497.4

1,473.4

Net property, plant and equipment

666.2

691.0

     
Prepaid taxes - non-current (Note 4)

98.8

113.3

     
Other assets

50.2

8.2

     
Total assets

$2,201.6

$2,261.8


Liabilities and stockholders' equity    
Current liabilities    
Short-term debt (Note 6)

$124.9

$160.4

Current portion of long-term debt (Note 8)

37.7

39.7

Payables and accruals (Note 7)

310.5

274.9

Compensation and benefits (Notes 10 and 11)

238.4

197.4

Federal, state and foreign income taxes (Note 4)

51.6

46.6

Total current liabilities

763.1

719.0

     
Long-term debt (Note 8)

489.9

526.7

     
Accrued postretirement benefits (Note 11)

248.5

257.2

     
Accrued postemployment benefits

41.9

41.2

     
Total liabilities

1,543.4

1,544.1

     
Preferred stock, Series A and Series D, $1 par value,authorized 20,000,000 shares; all shares unissued

-

-

     
Common stockholders' equity (Note 9)    
Common stock, $1 par value, authorized 150,000,000 shares

75.4

75.4

Additional paid - in capital

409.4

401.9

Retained earnings

1,457.8

1,525.8

Less: Treasury stock, at cost

1,244.8

1,205.4

Deferred compensation

39.6

80.0

Total common stockholders' equity

658.2

717.7

Total liabilities and stockholders' equity

$2,201.6

$2,261.8

See accompanying notes to consolidated financial statements.




Polaroid Corporation Annual Report 1996
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