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General Dynamics Annual Report 2011 37
December 31
CONSOLIDATED BALANCE SHEET
(Dollars in millions)
ASSETS
Current assets:
Cash and equivalents $ 2,613 $ 2,649
Accounts receivable 3,848 4,452
Contracts in process 4,873 5,168
Inventories 2,158 2,310
Other current assets 694 789
Total current assets 14,186 15,368
Noncurrent assets:
Property, plant and equipment, net 2,971 3,284
Intangible assets, net 1,992 1,813
Goodwill 12,649 13,576
Other assets 747 842
Total noncurrent assets 18,359 19,515
Total assets $ 32,545 $ 34,883
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt $ 773 $ 23
Accounts payable 2,736 2,895
Customer advances and deposits 4,465 5,011
Other current liabilities 3,203 3,216
Total current liabilities 11,177 11,145
Noncurrent liabilities:
Long-term debt 2,430 3,907
Other liabilities 5,622 6,599
Commitments and contingencies (see Note N)
Total noncurrent liabilities 8,052 10,506
Shareholders’ equity:
Common stock 482 482
Surplus 1,729 1,888
Retained earnings 17,076 18,917
Treasury stock (4,535) (5,743)
Accumulated other comprehensive loss (1,436) (2,312)
Total shareholders’ equity 13,316 13,232
Total liabilities and shareholders’ equity $ 32,545 $ 34,883
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.
2010 2011