LYONDELL CHEMICAL COMPANY
CONSOLIDATED BALANCE SHEETS
| |
|
December 31,
|
|
Millions, except shares and par value data
|
|
2006
|
|
|
2005
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
| Current assets: |
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
446 |
|
|
$ |
593 |
|
| Accounts receivable: |
|
|
|
|
|
|
|
|
| Trade, net |
|
|
2,073 |
|
|
|
1,563 |
|
| Related parties |
|
|
95 |
|
|
|
114 |
|
| Inventories |
|
|
2,259 |
|
|
|
1,657 |
|
| Prepaid expenses and other current assets |
|
|
164 |
|
|
|
176 |
|
| Deferred tax assets |
|
|
109 |
|
|
|
203 |
|
| |
|
|
|
|
|
|
|
|
| Total current assets |
|
|
5,146 |
|
|
|
4,306 |
|
| Property, plant and equipment, net |
|
|
9,147 |
|
|
|
6,530 |
|
| Investments and long-term receivables: |
|
|
|
|
|
|
|
|
| Investment in PO joint ventures |
|
|
778 |
|
|
|
776 |
|
| Investment in and receivable from Houston Refining LP |
|
|
— |
|
|
|
186 |
|
| Other |
|
|
118 |
|
|
|
114 |
|
| Goodwill, net |
|
|
1,648 |
|
|
|
2,295 |
|
| Other assets, net |
|
|
1,009 |
|
|
|
882 |
|
| |
|
|
|
|
|
|
|
|
| Total assets |
|
$ |
17,846 |
|
|
$ |
15,089 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
|
|
| Current maturities of long-term debt |
|
$ |
22 |
|
|
$ |
319 |
|
| Accounts payable: |
|
|
|
|
|
|
|
|
| Trade |
|
|
2,013 |
|
|
|
1,352 |
|
| Related parties |
|
|
83 |
|
|
|
101 |
|
| Accrued liabilities |
|
|
1,089 |
|
|
|
798 |
|
| |
|
|
|
|
|
|
|
|
| Total current liabilities |
|
|
3,207 |
|
|
|
2,570 |
|
| Long-term debt |
|
|
8,018 |
|
|
|
5,974 |
|
| Other liabilities |
|
|
1,661 |
|
|
|
1,786 |
|
| Deferred income taxes |
|
|
1,598 |
|
|
|
1,571 |
|
| Commitments and contingencies |
|
|
|
|
|
|
|
|
| Minority interest |
|
|
174 |
|
|
|
180 |
|
| Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
Common stock, $1.00 par value, 340,000,000 shares authorized, 249,764,306 and 247,876,385 shares issued, respectively |
|
|
250 |
|
|
|
248 |
|
| Additional paid-in capital |
|
|
3,248 |
|
|
|
3,211 |
|
| Retained deficit |
|
|
(330 |
) |
|
|
(292 |
) |
| Accumulated other comprehensive income (loss) |
|
|
42 |
|
|
|
(136) |
|
| Treasury stock, at cost, 793,736 and 826,151 shares, respectively |
|
|
(22 |
) |
|
|
(23 |
) |
| |
|
|
|
|
|
|
|
|
| Total stockholders’ equity |
|
|
3,188 |
|
|
|
3,008 |
|
| |
|
|
|
|
|
|
|
|
| Total liabilities and stockholders’ equity |
|
$ |
17,846 |
|
|
$ |
15,089 |
|
| |
|
|
|
|
|
|
|
|
See Notes to the Consolidated Financial Statements in Lyondell's 2006 Form 10-K.