E-Z-GO 2000 Annual Report Download - page 37

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As of December 30, 2000 and January 1, 2000
(Dollars in millions) 2000 1999
Assets
Textron Manufacturing
Cash and cash equivalents $ 282 $192
Commercial and U.S. Government receivables
(less allowance for doubtful accounts of $58 in 2000 and 1999) 1,318 1,363
Inventories 1,871 1,859
Other current assets 443 321
Total current assets 3,914 3,735
Property, plant, and equipment, net 2,568 2,484
Intangibles, net 2,340 2,807
Other assets 1,417 1,378
Total Textron Manufacturing assets 10,239 10,404
Textron Finance
Cash 717
Finance receivables, net 5,473 5,465
Other assets (including net goodwill of $217 in 2000 and $211 in 1999) 651 507
Total Textron Finance assets 6,131 5,989
Total assets $16,370 $16,393
Liabilities and shareholders’ equity
Liabilities
Textron Manufacturing
Current portion of long-term debt and short-term debt $ 615 $ 688
Accounts payable 1,200 1,214
Income taxes payable 77 87
Other accrued liabilities 1,371 1,267
Total current liabilities 3,263 3,256
Accrued postretirement benefits other than pensions 715 74 1
Other liabilities 1,224 1,336
Long-term debt 1,469 1,079
Total Textron Manufacturing liabilities 6,671 6,412
Textron Finance
Other liabilities 211 234
Deferred income taxes 315 307
Debt 4,667 4,551
Total Textron Finance liabilities 5,193 5,092
Total liabilities 11,864 11,504
Textron Finance – obligated mandatorily redeemable preferred securities of
Finance subsidiary holding solely junior subordinated debentures 28 29
Textron – obligated mandatorily redeemable preferred securities of
subsidiary trust holding solely Textron junior subordinated debt securities 484 483
Shareholders’ equity
Capital stock:
Preferred stock:
$2.08 Cumulative Convertible Preferred Stock, Series A (liquidation value – $11) 55
$1.40 Convertible Preferred Dividend Stock, Series B (preferred only as to dividends) 77
Common stock (195,394,000 and 194,858,000
shares issued and 140,933,000 and 147,002,000 outstanding) 24 24
Capital surplus 1,026 1,009
Retained earnings 5,848 5,817
Accumulated other comprehensive loss (172) (98)
6,738 6,764
Less cost of treasury shares 2,744 2,387
Total shareholders’ equity 3,994 4,377
Total liabilities and shareholders’ equity $16,370 $16,393
See notes to the consolidated financial statements.
Consolidated Balance Sheets
35 TEXTRON 2000 ANNUAL REPORT