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NATIONAL ACADEMY OF SCIENCES Statements of Financial Position December 31, 2011 and 2010 (In thousands) Assets 2011 2010 Current assets: Cash and cash equivalents $ 1,433 $ 1,522 Short-term investments (note 3 and 4) 54,312 56,777 Contracts receivable 92,410 58,426 Contributions and other receivables, net (note 6) 9,579 12,922 Bond proceeds held with trustee (note 4 and 13) 22,512 47,216 Other current assets 7,584 5,828 Total current assets 187,830 182,691 Other assets (notes 2, 13, 15, and 17) 6,965 7,468 Long-term investments (note 3 and 4) 392,025 423,062 Contributions receivable, net (note 6) 20,902 22,235 Property and equipment, net (notes 5 and 16) 159,651 134,953 Einstein Memorial 1,723 1,723 Total assets $769,096 $ 772,132 Liabilities and Net Assets Liabilities: Current liabilities: Accounts payable and accrued expenses $ 59,192 $ 47,116 Deferred revenue (notes 7 and 12) 33,097 28,007 Line of credit (note 8) 20,885 10,000 Other current liabilities (notes 13 and 14) 4,330 4,776 Total current liabilities 117,504 89,899 Bonds payable (note 13) 178,962 181,202 Funds held on behalf of others (note 3 and 4) 9,185 9,918 Accrued employee benefits (note 15) 7,665 4,618 Other long-term liabilities (notes 2, 13, and 16) 15,516 13,370 Total liabilities 328,832 299,007 Net assets: Unrestricted 83,259 89,054 Temporarily restricted (note 9) 235,004 265,702 Permanently restricted (note 10) 122,001 118,369 Total net assets 440,264 473,125 Commitments and contingencies (notes 3, 12, 13, 15, 18, and 19) Total liabilities and net assets 769,096 $ 772,132 See accompanying notes to financial statements. 42