(In millions)

June 30

2002

2003

Assets

Current assets:

Cash and equivalents

$   3,016

$   6,438

Short-term investments

 35,636

 42,610

Total cash and short-term investments

 38,652

 49,048

Accounts receivable, net

  5,129

  5,196

Inventories

  673

  640

Deferred income taxes

  2,112

  2,506

Other

  2,010

  1,583

Total current assets

 48,576

 58,973

Property and equipment, net

  2,268

  2,223

Equity and other investments

 14,191

 13,692

Goodwill

  1,426

  3,128

Intangible assets, net

  243

  384

Other long-term assets

  942

  1,171

Total assets

$ 67,646

$ 79,571

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

$   1,208

$   1,573

Accrued compensation

  1,145

  1,416

Income taxes

  2,022

  2,044

Short-term unearned revenue

  5,920

  7,225

Other

  2,449

  1,716

Total current liabilities

 12,744

 13,974

Long-term unearned revenue

  1,823

  1,790

Deferred income taxes

  398

  1,731

Other long-term liabilities

  501

  1,056

Commitments and contingencies

Stockholders' equity:

Common stock and paid-in capital - shares authorized 24,000; Shares issued and outstanding 10,718 and 10,771

 31,647

 35,344

Retained earnings, including accumulated other comprehensive income of $ 583 and $ 1,840

 20,533

 25,676

Total stockholders' equity

 52,180

 61,020

Total liabilities and stockholders' equity

$ 67,646

$ 79,571