PolyOne 2009 Annual Report

Consolidated Balance Sheets
December 31,
(In millions, except per share data) 2009 2008
ASSETS
Current assets
Cash and cash equivalents $ 222.7 $ 44.3
Accounts receivable (less allowance of $5.9 in 2009 and $6.7 in 2008) 274.4 262.1
Inventories 159.6 197.8
Deferred income tax assets — 1.0
Other current assets 38.0 19.9
Total current assets 694.7 525.1
Property, net 392.4 432.0
Investment in equity affiliates and nonconsolidated subsidiary 5.8 20.5
Goodwill 163.5 163.9
Other intangible assets, net 71.7 69.1
Deferred income tax assets 8.1 0.5
Other non-current assets 55.7 66.6
Total assets $1,391.9 $1,277.7
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Current portion of long-term debt $ 19.9 $ 19.8
Short-term debt 0.5 6.2
Accounts payable, including amounts payable to related party 238.3 160.0
Accrued expenses and other liabilities 117.0 118.2
Total current liabilities 375.7 304.2
Long-term debt 389.2 408.3
Post-retirement benefits other than pensions 21.8 80.9
Pension benefits 173.0 225.0
Other non-current liabilities 98.6 83.4
Commitments and contingencies (See Note 12)
Shareholders’ equity
Preferred stock, 40.0 shares authorized, no shares issued — —
Common stock, $0.01 par, 400.0 shares authorized, 122.2 shares issued in 2009 and 2008 1.2 1.2
Additional paid-in capital 1,065.5 1,065.0
Accumulated deficit (253.6) (321.4)
Common stock held in treasury, at cost, 29.7 shares in 2009 and 29.9 shares in 2008 (321.0) (323.8)
Accumulated other comprehensive loss (158.5) (245.1)
Total shareholders’ equity 333.6 175.9
Total liabilities and shareholders’ equity $1,391.9 $1,277.7
The accompanying notes to consolidated financial statements are an integral part of these balance sheets.
POLYONE CORPORATION
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