Raytheon 2004 Annual Report Download - page 91

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73
Notes to Consolidated Financial Statements (Continued)
provides fully customized solutions through the integration of command and control centers, radars, and
communication networks. HRL Laboratories is a scientific research facility whose staff engages in the areas of space
and defense technologies. Indra develops flight data processors for air traffic control automation systems. TelASIC
Communications delivers high performance, cost-effective radio frequency (RF), analog mixed signal, and digital
solutions for both the commercial and defense electronics markets.
In addition, the Company has entered into joint ventures formed specifically to facilitate a teaming arrangement
between two contractors for the benefit of the customer, generally the U.S. government, whereby the Company
receives a subcontract from the joint venture in the joint venture’s capacity as prime contractor. Accordingly, the
Company records the work it performs for the joint venture as operating activity.
Certain joint ventures and equity and cost method investments are not listed separately in the table above as the
Company’s investment in these entities is less than $5 million. Information for these joint ventures and investments
has not been separately disclosed since they are not material either individually on in the aggregate.
 :    - 
Notes payable and long-term debt consisted of the following at December 31:
(In millions) 2004 2003
Notes payable at a weighted-average interest rate of 5.63% and 6.25% for
December 31, 2004 and 2003 $36 $15
Current portion of long-term debt 480 –
Notes payable and current portion of long-term debt 516 15
Notes due 2005, floating rate, 1.64% at December 31, 2003 –200
Notes due 2006, 8.20% –191
Notes due 2005, 6.30%, not redeemable prior to maturity 123 123
Notes due 2005, 6.50%, not redeemable prior to maturity 357 689
Notes due 2007, 4.50%, redeemable at any time 118 224
Notes due 2007, 6.75%, redeemable at any time 560 924
Notes due 2008, 6.15%, redeemable at any time 309 542
Notes due 2010, 6.00%, redeemable at any time 86 222
Notes due 2010, 6.55%, redeemable at any time 243 244
Notes due 2010, 8.30%, redeemable at any time 398 398
Notes due 2011, 4.85%, redeemable at any time 449 496
Notes due 2012, 5.50%, redeemable at any time 329 346
Notes due 2013, 5.375%, redeemable at any time 341 419
Debentures due 2018, 6.40%, redeemable at any time 337 372
Debentures due 2018, 6.75%, redeemable at any time 249 249
Debentures due 2025, 7.375%, redeemable after 2005 192 205
Debentures due 2027, 7.20%, redeemable at any time 360 359
Debentures due 2028, 7.00%, redeemable at any time 184 184
Other notes with varying interest rates 74 130
Less installments due within one year (480) –
Long-term debt 4,229 6,517
Subordinated notes payable 408 859
Total debt issued and outstanding $5,153 $7,391