Air Products Reports Q1 EPS Up 16% on Volume Growth and Improved Margins; Raises 2008 Full Year EP...($96.5 $40.5 Trade receivable...),Health

Trade receivables, less allowances for

doubtful accounts 1,667.5 1,578.5

Inventories and contracts in progress 732.2 746.2

Prepaid expenses 61.3 108.2

Other receivables and current assets 197.8 240.1

Current assets of discontinued operations 108.5 144.9

TOTAL CURRENT ASSETS 2,863.8 2,858.4

INVESTMENTS IN NET ASSETS OF AND ADVANCES

TO EQUITY AFFILIATES 791.6 778.1

PLANT AND EQUIPMENT, at cost 14,910.2 14,600.3

Less accumulated depreciation 8,209.9 7,996.6

PLANT AND EQUIPMENT, net 6,700.3 6,603.7

GOODWILL 1,236.6 1,199.9

INTANGIBLE ASSETS, net 282.4 276.2

OTHER NONCURRENT ASSETS 867.0 638.6

NONCURRENT ASSETS OF DISCONTINUED OPERATIONS 272.6 304.6

TOTAL ASSETS $13,014.3 $12,659.5

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Payables and accrued liabilities $1,502.3 $1,550.9

Accrued income taxes 103.6 108.6

Short-term borrowings and current portion

of long-term debt 559.8 694.4

Current liabilities of discontinued operations 58.9 68.8

TOTAL CURRENT LIABILITIES 2,224.6 2,422.7

LONG-TERM DEBT 3,415.6 2,976.5

DEFERRED INCOME & OTHER NONCURRENT LIABILITIES 842.7 872.0

DEFERRED INCOME TAXES
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