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R. CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2012 Parent
Guarantors
on a
Combined
Basis
Other
Subsidiaries
on a
Combined
Basis
Consolidating
Adjustments
Total
Consolidated
ASSETS
Current assets:
Cash and equivalents $ 2,248 $ – $ 1,048 $ – $ 3,296
Accounts receivable – 1,254 2,950 – 4,204
Contracts in process 439 3,199 1,326 – 4,964
Inventories
Work in process – 1,507 11 – 1,518
Raw materials – 1,020 89 – 1,109
Finished goods – 32 37 – 69
Pre-owned aircraft – 80 – – 80
Other current assets 45 249 210 – 504
Total current assets 2,732 7,341 5,671 – 15,744
Noncurrent assets:
PP&E 155 5,556 1,292 – 7,003
Accumulated depreciation of PP&E (56) (2,850) (694) – (3,600)
Intangible assets – 1,693 1,222 – 2,915
Accumulated amortization of intangible assets – (1,068) (464) – (1,532)
Goodwill – 7,661 4,387 – 12,048
Other assets 700 738 328 (35) 1,731
Investment in subsidiaries 33,324 – – (33,324) –
Total noncurrent assets 34,123 11,730 6,071 (33,359) 18,565
Total assets $ 36,855 $ 19,071 $ 11,742 $ (33,359) $ 34,309
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Customer advances and deposits $ – $ 3,052 $ 2,990 $ – $ 6,042
Other current liabilities 394 3,743 1,441 – 5,578
Total current liabilities 394 6,795 4,431 – 11,620
Noncurrent liabilities:
Long-term debt 3,881 27 – – 3,908
Other liabilities 4,121 2,704 566 – 7,391
Total noncurrent liabilities 8,002 2,731 566 – 11,299
Intercompany 17,069 (17,388) 319 – –
Shareholders’ equity:
Common stock 482 6 44 (50) 482
Other shareholders’ equity 10,908 26,927 6,382 (33,309) 10,908
Total shareholders’ equity 11,390 26,933 6,426 (33,359) 11,390
Total liabilities and shareholders’ equity $ 36,855 $ 19,071 $ 11,742 $ (33,359) $ 34,309
62 General Dynamics Annual Report 2013