E-Z-GO 2001 Annual Report Download - page 37

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As of December 29, 2001 and December 30, 2000
(Dollars in millions) 2001 2000
Assets
Textron Manufacturing
Cash and cash equivalents $241 $282
Commercial and U.S. Government receivables (less allow ance
for doubtful accounts of $54 in 2001 and $58 in 2000) 1,149 1,318
Inventories 1,727 1,871
Due from Textron Finance 510 –
Other current assets 390 443
Total current assets 4,017 3,914
Property, plant and equipment, net 2,044 2,568
Intangibles, net 1,965 2,340
Other assets 1,562 1,417
Total Textron M anufacturing assets 9,588 10,239
Textron Finance
Cash 19 7
Finance receivables, net 5,492 5,473
Other assets (including net intangibles of $204 in 2001 and $217 in 2000) 953 651
Total Textron Finance assets 6,464 6,131
Total assets $16,052 $16,370
Liabilities and shareholders’ equity
Liabilities
Textron Manufacturing
Current portion of long-term debt and short-term debt $673 $615
Accounts payable 994 1,200
Income taxes payable 24 77
Other accrued liabilities 1,384 1,371
Total current liabilities 3,075 3,263
Accrued postretirement benefits other than pensions 623 715
Other liabilities 1,219 1,224
Long-term debt 1,261 1,469
Total Textron M anufacturing liabilities 6,178 6,671
Textron Finance
Other liabilities 372 211
Deferred income taxes 357 315
Due to Textron M anufacturing 510 –
Debt 4,188 4,667
Total Textron Finance liabilities 5,427 5,193
Total liabilities 11,605 11,864
Textron Finance – obligated mandatorily redeemable preferred securities of Finance
subsidiary holding solely junior subordinated debentures 28 28
Textron – obligated mandatorily redeemable preferred securities of subsidiary trust
holding solely Textron junior subordinated debt securities 485 484
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) 67
Common stock (196,337,000 and 195,394,000 shares issued and 141,251,000
and 140,933,000 outstanding) 25 24
Capital surplus 1,064 1,026
Retained earnings 5,829 5,848
Accumulated other comprehensive loss (223) (172)
6,706 6,738
Less cost of treasury shares 2,772 2,744
Total shareholders’ equity 3,934 3,994
Total liabilities and shareholders’ equity $16,052 $16,370
See notes to the consolidated financial statements.
Consolidated Balance Sheets
Textron Annual Report 35