Lockheed Martin 2004 Annual Report Download - page 45

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December 31,
(In millions) 2004 2003
ASSETS
Current assets:
Cash and cash equivalents $ 1,060 $ 1,010
Short-term investments 396 240
Receivables 4,094 4,039
Inventories 1,864 2,348
Deferred income taxes 982 921
Other current assets 557 843
Total current assets 8,953 9,401
Property, plant and equipment, net 3,599 3,489
Investments in equity securities 812 1,060
Goodwill 7,892 7,879
Purchased intangibles, net 672 807
Prepaid pension asset 1,030 1,213
Other assets 2,596 2,326
$25,554 $26,175
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 1,726 $ 1,434
Customer advances and amounts in excess of costs incurred 4,028 4,256
Salaries, benefits and payroll taxes 1,346 1,418
Current maturities of long-term debt 15 136
Other current liabilities 1,451 1,649
Total current liabilities 8,566 8,893
Long-term debt 5,104 6,072
Accrued pension liabilities 1,660 1,100
Other post-retirement benefit liabilities 1,236 1,440
Other liabilities 1,967 1,914
Stockholders’ equity:
Common stock, $1 par value per share 438 446
Additional paid-in capital 2,223 2,477
Retained earnings 5,915 5,054
Unearned compensation (23) —
Unearned ESOP shares —(17)
Accumulated other comprehensive loss (1,532) (1,204)
Total stockholders’ equity 7,021 6,756
$25,554 $26,175
See accompanying Notes to Consolidated Financial Statements.
Lockheed Martin Corporation
CONSOLIDATED BALANCE SHEET
43