Baker Hughes 2013 Annual Report Download - page 78

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2013 Annual Report 48
BAKER HUGHES INCORPORATED
CONSOLIDATED BALANCE SHEETS
December 31,
(In millions, except par value) 2013 2012
ASSETS
Current Assets:
Cash and cash equivalents $ 1,399 $ 1,015
Accounts receivable - less allowance for doubtful accounts
(2013 - $238; 2012 - $308) 5,138 4,815
Inventories, net 3,884 3,781
Deferred income taxes 380 266
Other current assets 494 540
Total current assets 11,295 10,417
Property, plant and equipment - less accumulated depreciation
(2013 - $7,219; 2012 - $6,315) 9,076 8,707
Goodwill 5,966 5,958
Intangible assets, net 883 993
Other assets 714 614
Total assets $ 27,934 $ 26,689
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable $ 2,574 $ 1,737
Short-term debt and current portion of long-term debt 499 1,079
Accrued employee compensation 778 646
Income taxes payable 213 226
Other accrued liabilities 514 436
Total current liabilities 4,578 4,124
Long-term debt 3,882 3,837
Deferred income taxes and other tax liabilities 821 745
Liabilities for pensions and other postretirement benefits 583 579
Other liabilities 158 136
Commitments and contingencies
Equity:
Common stock, one dollar par value
(shares authorized - 750; issued and outstanding: 2013 - 438; 2012 - 441) 438 441
Capital in excess of par value 7,341 7,495
Retained earnings 10,438 9,609
Accumulated other comprehensive loss (504) (476)
Baker Hughes stockholders’ equity 17,713 17,069
Noncontrolling interests 199 199
Total equity 17,912 17,268
Total liabilities and equity $ 27,934 $ 26,689
See Notes to Consolidated Financial Statements