Lockheed Martin 1999 Annual Report Download - page 35

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42
CONSOLIDATED BALANCE SHEET
Lockheed Martin Corporation
December 31,
(In millions)
1999 1998
Assets
Current assets:
Cash and cash equivalents $ 455 $ 285
Receivables 4,348 4,178
Inventories 4,051 4,293
Deferred income taxes 1,237 1,109
Other current assets 605 746
Total current assets 10,696 10,611
Property, plant and equipment 3,634 3,513
Investments in equity securities 2,210 948
Intangible assets related to contracts and programs acquired 1,259 1,418
Cost in excess of net assets acquired 9,162 9,521
Other assets 3,051 2,733
$30,012 $28,744
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 1,228 $ 1,382
Customer advances and amounts in excess of costs incurred 4,655 4,012
Salaries, benefits and payroll taxes 941 842
Income taxes 51 553
Short-term borrowings 475 1,043
Current maturities of long-term debt 52 886
Other current liabilities 1,410 1,549
Total current liabilities 8,812 10,267
Long-term debt 11,427 8,957
Post-retirement benefit liabilities 1,805 1,903
Other liabilities 1,607 1,480
Stockholders’ equity:
Common stock, $1 par value per share 398 393
Additional paid-in capital 222 70
Retained earnings 5,901 5,864
Unearned ESOP shares (150) (182)
Accumulated other comprehensive income (loss) (10) (8)
Total stockholders’ equity 6,361 6,137
$30,012 $28,744
See accompanying Notes to Consolidated Financial Statements.