E-Z-GO 2002 Annual Report Download - page 39

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As of December 28, 2002 and December 29, 2001
(Dollars in millions) 2002 2001
Assets
Textron Manufacturing
Cash and cash equivalents $286 $ 241
Commercial and U.S. Government receivables (less allowance for doubtful accounts of
$63 in 2002 and $54 in 2001) 1,180 1,149
Inventories 1,611 1,727
Due from Textron Finance —510
Income taxes receivable 247 —
Other current assets 563 390
Total current assets 3,887 4,017
Property, plant and equipment, net 1,981 2,044
Goodwill 1,368 1,821
Other intangibles assets, net 83 144
Other assets 1,532 1,562
Total Textron Manufacturing assets 8,851 9,588
Textron Finance
Cash 21 19
Finance receivables, net 5,589 5,492
Goodwill 181 204
Other assets 863 749
Total Textron Finance assets 6,654 6,464
Total assets $15,505 $ 16,052
Liabilities and shareholders’ equity
Liabilities
Textron Manufacturing
Current portion of long-term debt and short-term debt $ 25 $ 673
Accounts payable 877 994
Accrued liabilities 1,337 1,408
Total current liabilities 2,239 3,075
Accrued postretirement benefits other than pensions 611 626
Other liabilities 1,444 1,216
Long-term debt 1,686 1,261
Total Textron Manufacturing liabilities 5,980 6,178
Textron Finance
Other liabilities 369 372
Deferred income taxes 398 357
Due to Textron Manufacturing —510
Debt 4,840 4,188
Total Textron Finance liabilities 5,607 5,427
Total liabilities 11,587 11,605
Textron Finance - obligated mandatorily redeemable preferred securities of
Finance subsidiary holding solely junior subordinated debentures 27 28
Textron - obligated mandatorily redeemable preferred securities of subsidiary
trust holding solely Textron junior subordinated debt securities 485 485
Shareholders’ equity
Capital stock:
Preferred stock:
$2.08 Cumulative Convertible Preferred Stock, Series A (liquidation value $11) 5 5
$1.40 Convertible Preferred Dividend Stock, Series B (preferred only as to dividends) 6 6
Common stock (197,110,000 and 196,337,000 shares issued and 136,500,000 and
141,251,000 outstanding) 25 25
Capital surplus 1,080 1,064
Retained earnings 5,526 5,829
Accumulated other comprehensive loss (225) (223)
6,417 6,706
Less cost of treasury shares 3,011 2,772
Total shareholders’ equity 3,406 3,934
Total liabilities and shareholders’ equity $15,505 $ 16,052
See notes to the consolidated financial statements.
Consolidated Balance Sheets
37