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Balance Sheet (in millions) 2011 2010 Assets: Current: Cash and Equivalents $1,955 $3,079 Short-Term Investments $2,583 $2,067 Accounts Receivable $3,212 $2,724 less: Allowance for Doubtful

Balance Sheet (in millions) 2011 2010
Assets:
Current:
Cash and Equivalents $1,955 $3,079
Short-Term Investments $2,583 $2,067
Accounts Receivable $3,212 $2,724
less: Allowance for Doubtful Accounts ($74) ($74)
Inventories $2,715 $2,041
Deferred Income Taxes $312 $249
Prepaid Expenses and other Current Assets $594 $873
Total Current Assets $11,297 $10,959
Non-Current Assets
Property, Plant and Equipment
At Cost $4,906 $4,390
Less: Accumulated Depreciation ($2,791) ($2,458)
Net Property, Plant and Equipment $2,115 $1,932
Identifiable Intangible Assets $487 $467
Goodwill $205 $188
Deferred Income Taxes and other Assets $894 $873
Total Non-current Assets $3,701 $3,460
Total Assets $14,998 $14,419
2011 2010
Liabilities and Shareholder's Equity
Current Liabilities
Current portion of Long-Term Debt $200 $7
Notes Payable $187 $139
Accounts Payable $1,469 $1,255
Accrued Liabilities $1,985 $1,904
Income Taxes Payable $117 $59
Total Current Liabilities $3,958 $3,364
Non-Current Liabilities
Long-Term Debt $276 $446
Deferred Income Taxes and other Liabilities $921 $855
Total Non-Current Liabilities $1,197 $1,301
Total Liabilities $5,155 $4,665
Shareholder's Equity:
Redeemable Preferred Stock * *
Common Stock at Stated Value
Class A convertible * *
Class B $3 $3
Capital in Excess of Stated Value $3,944 $3,441
Retained Earnings $5,801 $6,095
Accumulated other Comprehensive Income $95 $215
Total Shareholders' Equity $9,843 $9,754
Total Liabilities and Shareholders' Equity $14,998 $14,419
* denotes less than .5 million
Income Statement (in millions)
2011 2010
Revenues $20,862 $19,014
Cost of Sales $11,354 $10,214
Gross Margin $9,508 $8,800
Demand creation Expense $2,448 $2,356
Operating Overhead Expense $4,245 $3,970
Total Selling and Administrative Expense $6,693 $6,326
Income from Operations $2,815 $2,474
Other Expenses (Income)
Interest Expense, net $4
$6
Other Income, net ($33) ($49)
Total Other Expenses (Income) ($29) ($43)
Income before Taxes $2,844 $2,517
Income Taxes $711 $610
Net Income $2,133 $1,907
.
Required: Using your financial statement analysis expertise, tell me five things of interest and/or concern regarding this company.

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