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incremental tax benefit in 2008 and 2007, respectively, for the
pre-tax reconciling items between GAAP and adjusted net income; and
ii) in 2008, $9.6 of incremental tax benefit from adjusting the
company's deferred tax balances as a result of newly enacted tax rates
in Switzerland.
(g) During the first quarter of 2008, the company transferred management
responsibility for several small business units between segments.
Segment information for 2007 has been reclassified to reflect these
transfers.
Notes:
Consolidated depreciation expense in 2008 and 2007 is $47.6 and $46.0,
respectively.
Consolidated equity compensation expense included in both reported and
adjusted results is $11.0 and $13.8 in 2008 and 2007, respectively.
Consolidated net capital expenditures in Q1 2008 totaled $53.3.
Condensed Consolidated Balance Sheet (unaudited)
(In millions) Mar. 29, 2008 Dec. 31, 2007
Assets
Current Assets:
Cash and cash equivalents $734.0 $625.1
Short-term investments 14.1 14.1
Accounts receivable, net 1,585.7 1,450.0
Inventories 1,246.7 1,169.9
Other current assets 408.3 406.2
Total current assets 3,988.8 3,665.3
Property, Plant and Equipment, Net 1,297.5 1,267.4
Acquisition-related Intangible Assets 7,090.6 7,157.8
Other Assets 402.6 403.7
Goodwill 8,718.4 8,713.2
Total Assets $21,497.9 $21,207.4
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