Honeywell 2003 Annual Report Download - page 365

CONSOLIDATED BALANCE SHEET Honeywell International Inc.
December 31,
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(Dollars in Millions) 2003 2002
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ASSETS
Current assets:
Cash and cash equivalents .............................. $ 2,950 $ 2,021
Accounts, notes and other receivables .................. 3,643 3,264
Inventories ............................................ 2,939 2,953
Deferred income taxes .................................. 1,526 1,301
Other current assets ................................... 465 661
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Total current assets ................................ 11,523 10,200
Investments and long-term receivables ..................... 569 624
Property, plant and equipment--net ........................ 4,295 4,055
Goodwill .................................................. 5,789 5,698
Other intangible assets--net .............................. 1,098 1,074
Insurance recoveries for asbestos related liabilities ..... 1,317 1,636
Deferred income taxes ..................................... 342 967
Prepaid pension benefit cost .............................. 3,173 2,242
Other assets .............................................. 1,238 1,069
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Total assets ........................................ $29,344 $27,565
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LIABILITIES
Current liabilities:
Accounts payable ....................................... $ 2,240 $ 1,912
Short-term borrowings .................................. 152 60
Commercial paper ....................................... -- 201
Current maturities of long-term debt ................... 47 109
Accrued liabilities .................................... 4,344 4,403
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Total current liabilities ........................... 6,783 6,685
Long-term debt ............................................ 4,961 4,719
Deferred income taxes ..................................... 316 186
Postretirement benefit obligations other than pensions .... 1,683 1,684
Asbestos related liabilities .............................. 2,279 2,700
Other liabilities ......................................... 2,593 2,666
CONTINGENCIES
SHAREOWNERS' EQUITY
Capital--common stock--Authorized 2,000,000,000 shares
(par value $1 per share):
--issued 957,599,900 shares ......................... 958 958
--additional paid-in capital ........................ 3,486 3,409
Common stock held in treasury, at cost:
2003--95,269,642 shares; 2002--103,106,750 shares ...... (3,655) (3,783)
Accumulated other nonowner changes ........................ (189) (1,109)
Retained earnings ......................................... 10,129 9,450
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Total shareowners' equity ........................... 10,729 8,925
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Total liabilities and shareowners' equity ........... $29,344 $27,565
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The Notes to Financial Statements are an integral part of this statement.
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