GSK Annual Report 2002

37 Reconciliation to US accounting principles continued
Notes to the financial statements GlaxoSmithKline 125
2002 2001
Consolidated balance sheet under US GAAP £m £m
Assets
Current assets
Cash and cash equivalents 1,082 832
Marketable securities 1,466 1,647
Accounts and notes receivable 3,657 3,647
Inventories 2,080 2,090
Prepaid expenses 862 744
Deferred income taxes 1,133 1,242
Total current assets 10,280 10,202
Goodwill 18,160 18,102
Intangible assets 19,961 24,223
Property, plant and equipment 6,864 7,015
Investments in affiliates 1,033 1,038
Other assets 1,055 491
Deferred income taxes 318 270
Total assets 57,671 61,341
Liabilities and Shareholders’ equity
Current liabilities
Cash overdrafts 193 230
Accounts payable 715 760
Short-term borrowings and capital lease obligations 1,358 1,894
Income taxes 1,449 1,672
Dividends payable 538 555
Deferred income taxes 113 113
Other accrued liabilities 3,801 3,601
Total current liabilities 8,167 8,825
Long-term borrowings and capital lease obligations 3,092 2,108
Other liabilities 4,197 1,747
Deferred income taxes 6,486 7,692
Total liabilities 21,942 20,372
Minority interest 807 862
Contingent liabilities and commitments Notes 24 and 26
Shareholders’ equity
Common stock, £0.25 per share par value; 10,000,000,000 shares authorised;
6,024,266,345 (2002) and 6,172,965,989 (2001) shares issued 1,506 1,543
Redeemable preference shares, £1.00 per share par value; 50,000 shares authorised,
nil (2002) and nil (2001) shares outstanding – –
Additional paid-in capital 43,749 45,532
Retained deficit and cumulative other comprehensive loss (7,266) (3,794)
Treasury stock (3,067) (3,174)
Total shareholders’ equity 34,922 40,107
Total liabilities and shareholders’ equity 57,671 61,341
Certain items for the year ended 31st December 2001 have been reclassified for comparative purposes.