E-Z-GO 2005 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2005 E-Z-GO annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

40
Consolidated Balance Sheets
As of December 31, 2005 and January 1, 2005
(Dollars in millions, except share data)
2005 2004
Assets
Textron Manufacturing
Cash and cash equivalents $ 786 $ 570
Accounts receivable, net 891 843
Inventories 1,712 1,536
Other current assets 464 515
Assets of discontinued operations 1,122 1,633
Total current assets 4,975 5,097
Property, plant and equipment, net 1,574 1,513
Goodwill 979 1,002
Other intangible assets, net 32 33
Other assets 1,498 1,492
Total Textron Manufacturing assets 9,058 9,137
Textron Finance
Cash 10 127
Finance receivables, net 6,667 5,738
Goodwill 169 169
Other assets 595 704
Total Textron Finance assets 7,441 6,738
Total assets $ 16,499 $ 15,875
Liabilities and shareholders’ equity
Liabilities
Textron Manufacturing
Current portion of long-term debt and short-term debt $ 275 $ 420
Accounts payable 677 508
Accrued liabilities 1,749 1,702
Liabilities of discontinued operations 446 520
Total current liabilities 3,147 3,150
Accrued postretirement benefits other than pensions 515 527
Other liabilities 1,511 1,493
Long-term debt 1,659 1,350
Total Textron Manufacturing liabilities 6,832 6,520
Textron Finance
Other liabilities 510 467
Deferred income taxes 461 453
Debt 5,420 4,783
Total Textron Finance liabilities 6,391 5,703
Total liabilities 13,223 12,223
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 (205,613,104 and 203,360,698 shares issued and 130,184,723 and 135,372,887 outstanding) 26 25
Capital surplus 1,533 1,369
Retained earnings 5,808 5,792
Accumulated other comprehensive loss (78) (97)
7,299 7,099
Less cost of treasury shares 4,023 3,447
Total shareholders’ equity 3,276 3,652
Total liabilities and shareholders’ equity $ 16,499 $ 15,875
See Notes to the Consolidated Financial Statements.