Emerson 2004 Annual Report Download - page 34

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32 Emerson 2004
See accompanying notes to consolidated financial statements.
Consolidated Balance Sheets
EMERSON ELECTRIC CO. AND SUBSIDIARIES
September 30
(Dollars in millions except per share amounts)
ASSETS 2003 2004
Current assets
Cash and equivalents $ 696) 1,346)
Receivables, less allowances of $82 in 2003 and $78 in 2004 2,650) 2,932)
Inventories:
Finished products 628) 693)
Raw materials and work in process 930) 1,012)
Total inventories 1,558) 1,705)
Other current assets 596) 433)
Total current assets 5,500) 6,416)
Property, plant and equipment
Land 178) 184)
Buildings 1,341) 1,402)
Machinery and equipment 5,129) 5,284)
Construction in progress 216) 249)
6,864) 7,119)
Less accumulated depreciation 3,902) 4,182)
Property, plant and equipment, net 2,962) 2,937)
Other assets
Goodwill 4,942) 5,259)
Other 1,790) 1,749)
Total other assets 6,732) 7,008)
$15,194) 16,361)