3M 2004 Annual Report Download - page 81
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55
NOTE 5. Supplemental Balance Sheet Information
(Millions) 2004 2003
Accounts receivable
Accounts receivable $ 2,875 $ 2,813
Allowances
(83)
)
(99)
Accounts receivable – net $ 2,792 $ 2,714
Inventories
Finished goods $ 947 $ 921
Work in process 614 596
Raw materials 336 299
Total inventories $ 1,897 $ 1,816
Other current assets
Product and other insurance receivables $ 519 $ 448
Deferred income taxes 212 363
Prepaid expenses and other 543 543
Total other current assets $ 1,274 $ 1,354
Investments
Available-for-sale (fair value) $ 7 $ 12
Equity-method 22 21
Cash surrender value of life insurance policies, real
estate and other (cost, which approximates fair value) 198 185
Total investments $ 227 $ 218
Property, plant and equipment –at cost
Land $ 279 $ 259
Buildings and leasehold improvements 4,619 4,353
Machinery and equipment 10,876 10,851
Construction in progress 415 286
Capital leases 101 92
Gross property, plant and equipment 16,290 15,841
Accumulated depreciation* (10,579)
(10,232)
Property, plant and equipment – net $ 5,711 $ 5,609
*Includes capital leases accumulated depreciation of $34 million for 2004 and $25 million for 2003.