Annual Report 2011

Adecco Group –
Consolidated balance sheets
in millions, except share and per share information

Download xls sheet

As of (in EUR)

Note

31.12.2011

31.12.2010

 

 

 

 

Assets

 

 

 

Current assets:

 

 

 

• Cash and cash equivalents

 

532

549

• Short-term investments

 

2

5

• Trade accounts receivable, net

3

3,725

3,541

• Other current assets

14

424

351

Total current assets

 

4,683

4,446

 

 

 

 

Property, equipment, and leasehold improvements, net

4

313

291

Other assets

14

310

291

Intangible assets, net

2, 5

593

578

Goodwill

2, 5

3,455

3,273

 

 

 

 

Total assets

 

9,354

8,879

 

 

 

 

Liabilities and shareholders’ equity

 

 

 

Liabilities

 

 

 

Current liabilities:

 

 

 

• Accounts payable and accrued expenses:

 

 

 

  • Accounts payable

 

541

546

  • Accrued salaries and wages

 

904

888

  • Accrued payroll taxes and employee benefits

 

887

850

  • Accrued sales and value added taxes

 

470

461

  • Accrued income taxes

 

65

48

  • Other accrued expenses

14

678

679

• Total accounts payable and accrued expenses

6

3,545

3,472

• Short-term debt and current maturities of long-term debt

7

236

217

Total current liabilities

 

3,781

3,689

 

 

 

 

Long-term debt, less current maturities

7

1,190

1,088

Other liabilities

6, 14

572

535

 

 

 

 

Total liabilities

 

5,543

5,312

 

 

 

 

Shareholders’ equity

 

 

 

Adecco shareholders’ equity:

 

 

 

• Common shares

8

118

118

• Additional paid-in capital

8

2,459

2,602

• Treasury shares, at cost

8

(706)

(532)

• Retained earnings

 

2,080

1,561

• Accumulated other comprehensive income/(loss), net

8

(143)

(184)

Total Adecco shareholders’ equity

 

3,808

3,565

Noncontrolling interests

 

3

2

Total shareholders’ equity

 

3,811

3,567

 

 

 

 

Total liabilities and shareholders’ equity

 

9,354

8,879

The accompanying notes are an integral part of these consolidated financial statements.