E-Z-GO 2004 Annual Report Download - page 56

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35
Consolidated Balance Sheets
As of January 1, 2005 and January 3, 2004
(Dollars in millions, except share data)
2004 2003
Assets
Textron Manufacturing
Cash and cash equivalents $ 605 $ 481
Accounts receivable, net 1,211 1,124
Inventories 1,742 1,503
Other current assets 581 525
Assets of discontinued operations 29 72
Total current assets 4,168 3,705
Property, plant and equipment, net 1,922 1,901
Goodwill 1,439 1,420
Other intangible assets, net 44 39
Other assets 1,564 1,773
Total Textron Manufacturing assets 9,137 8,838
Textron Finance
Cash 127 357
Finance receivables, net 5,738 5,016
Goodwill 169 169
Other assets 704 791
Total Textron Finance assets 6,738 6,333
Total assets $ 15,875 $ 15,171
Liabilities and Shareholders’ Equity
Liabilities
Textron Manufacturing
Current portion of long-term debt and short-term debt $ 433 $ 316
Accounts payable 719 689
Accrued liabilities 1,818 1,311
Liabilities of discontinued operations 521
Total current liabilities 2,975 2,337
Accrued postretirement benefits other than pensions 564 590
Other liabilities 1,623 1,519
Long-term debt 1,358 1,711
Total Textron Manufacturing liabilities 6,520 6,157
Textron Finance
Other liabilities 467 501
Deferred income taxes 453 390
Debt 4,783 4,407
Mandatorily redeemable preferred securities —26
Total Textron Finance liabilities 5,703 5,324
Total liabilities 12,223 11,481
Shareholders’ equity
Capital stock:
Preferred stock:
$2.08 Cumulative Convertible Preferred Stock, Series A (liquidation value $11) 4 4
$1.40 Convertible Preferred Dividend Stock, Series B (preferred only as to dividends) 6 6
Common stock (203,360,698 and 198,957,000 shares issued and 135,373,000 and 137,238,000 outstanding) 25 25
Capital surplus 1,369 1,148
Retained earnings 5,792 5,606
Accumulated other comprehensive loss (97) (64)
7,099 6,725
Less cost of treasury shares 3,447 3,035
Total shareholders’ equity 3,652 3,690
Total liabilities and shareholders’ equity $ 15,875 $ 15,171
See notes to the consolidated financial statements.