Statements of Financial Position
At December 31, 2007 and 2006 (in thousands)
| 2007 | 2006 | |
|---|---|---|
| Assets: | ||
| Cash and cash equivalents | $164,501 | $202,299 |
| Cash held as collateral | 260,583 | 206,803 |
| Receivable on pending securities transactions | 31,969 | 13,618 |
| Interest and dividends receivable | 9,606 | 16,624 |
| Contributions receivable | 12,481 | 12,438 |
| Investments at fair value | ||
| Johnson & Johnson common stock | 2,824,311 | 3,696,018 |
| Other equity investments | 6,520,344 | 5,151,768 |
| Fixed income investments | 831,734 | 729,630 |
| Program related investments | 9,412 | 8,840 |
| Other assets | 57,355 | 56,646 |
| Total assets | $10,722,296 | $10,094,684 |
| Liabilities and Net Assets | ||
| Liabilities: | ||
| Accounts payable and accrued expenses | $12,128 | $22,449 |
| Payable under securities loan agreement | 260,583 | 206,803 |
| Payable on pending securities transactions | 45,895 | 52,839 |
| Unpaid grants | 486,123 | 405,268 |
| Deferred federal excise tax | 76,290 | 86,172 |
| Accrued postretirement benefit obligation | 24,810 | 16,786 |
| Total liabilities | 905,829 | 790,317 |
| Net assets: | ||
| Unrestricted | 9,803,986 | 9,291,929 |
| Temporarily restricted | 12,481 | 12,438 |
| Total net assets | 9,816,467 | 9,304,367 |
| Total liabilities and net assets | $10,722,296 | $10,094,684 |
See notes to financial statements.