COGNIZANT ANNUAL REPORT 2004 28 $^{(1)}$Restated to reflect 2-for-1 stock split effected by a 100% stock dividend paid on June 17, 2004. The accompanying notes are an integral part of the consolidated financial statements. (in thousands, except par values) Consolidated Statements of Financial Position Assets Current assets: Cash and cash equivalents $ 293,446 $ 194,221 Investments in short-term bank deposits 21,315 – Trade accounts receivable, net of allowances T of $1,560 and $989, respectively 96,363 52,253 Unbilled accounts receivable 14,154 9,543 Deferred income tax assets 16,815 18,777 Other current assets 11,904 8,414 Total current assets 453,997 283,208 Property and equipment, net of accumulated depreciation of $47,436 and $34,168, respectively 90,705 58,438 Goodwill 9,701 4,477 Other intangible assets, net 12,126 16,436 Other assets 6,216 2,741 Total assets $ 572,745 $ 365,300 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 11,190 $ 9,423 Accrued expenses and other liabilities 103,870 53,213 Total current liabilities 115,060 62,636 Deferred income tax liabilities 4,156 28,594 Total liabilities 119,216 91,230 Commitments and contingencies (See Notes 10 and 11) Stockholders’ equity: (See Note 1) Preferred stock, $.10 par value, 15,000 shares authorized, none issued – – Class A common stock, $.01 par value, 325,000 shares authorized and 134,177 shares issued and outstanding at December 31, 2004, 200,000 shares authorized and 128,674 shares issued and outstanding at December 31, 2003 (1) 1,342 1,286 Class B common stock, $.01 par value, no shares authorized at December 31, 2004, 25,000 shares authorized at December 31, 2003, none outstanding (1) – – Additional paid in capital (1) 191,322 117,811 Retained earnings 251,216 150,973 Accumulated other comprehensive income  9,649 4,000 Total stockholders’ equity 453,529 274,070 Total liabilities and stockholders’ equity $ 572,745 $ 365,300 At December 31, 2004 2003