Baker Hughes 2014 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2014 Baker Hughes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 122

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122

50
BAKER HUGHES INCORPORATED
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par value) 2014 2013
ASSETS
Current Assets:
Cash and cash equivalents $ 1,740 $ 1,399
Accounts receivable - less allowance for doubtful accounts
(2014 - $224; 2013 - $238) 5,418 5,138
Inventories, net 4,074 3,884
Deferred income taxes 418 380
Other current assets 395 494
Total current assets 12,045 11,295
Property, plant and equipment - less accumulated depreciation
(2014 - $8,215; 2013 - $7,219) 9,063 9,076
Goodwill 6,081 5,966
Intangible assets, net 812 883
Other assets 826 714
Total assets $ 28,827 $ 27,934
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable $ 2,807 $ 2,574
Short-term debt and current portion of long-term debt 220 499
Accrued employee compensation 782 778
Income taxes payable 265 213
Other accrued liabilities 563 514
Total current liabilities 4,637 4,578
Long-term debt 3,913 3,882
Deferred income taxes and other tax liabilities 740 821
Liabilities for pensions and other postretirement benefits 629 583
Other liabilities 178 158
Commitments and contingencies
Equity:
Common stock, one dollar par value
(shares authorized - 750; issued and outstanding: 2014 - 434; 2013 - 438) 434 438
Capital in excess of par value 7,062 7,341
Retained earnings 11,878 10,438
Accumulated other comprehensive loss (749) (504)
Baker Hughes stockholders’ equity 18,625 17,713
Noncontrolling interests 105 199
Total equity 18,730 17,912
Total liabilities and equity $ 28,827 $ 27,934
See Notes to Consolidated Financial Statements