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R. CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2014 Parent
Guarantors
on a
Combined
Basis
Other
Subsidiaries
on a
Combined
Basis
Consolidating
Adjustments
Total
Consolidated
ASSETS
Current assets:
Cash and equivalents $ 2,536 $ – $ 1,852 $ – $ 4,388
Accounts receivable – 1,379 2,671 – 4,050
Contracts in process 542 2,966 1,083 – 4,591
Inventories
Work in process – 1,818 10 – 1,828
Raw materials – 1,260 30 – 1,290
Finished goods – 20 8 – 28
Pre-owned aircraft – 75 – – 75
Other current assets 781 215 161 – 1,157
Total current assets 3,859 7,733 5,815 – 17,407
Noncurrent assets:
Property, plant and equipment 148 6,035 1,109 – 7,292
Accumulated depreciation of PP&E (52) (3,246) (665) – (3,963)
Intangible assets – 1,484 914 – 2,398
Accumulated amortization of intangible assets – (1,042) (444) – (1,486)
Goodwill – 8,095 3,636 – 11,731
Other assets 1,479 213 284 – 1,976
Investment in subsidiaries 37,449 – – (37,449) –
Total noncurrent assets 39,024 11,539 4,834 (37,449) 17,948
Total assets $ 42,883 $ 19,272 $ 10,649 $ (37,449) $ 35,355
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt $ 500 $ 1 $ – $ – $ 501
Customer advances and deposits – 3,529 3,806 – 7,335
Other current liabilities 1,298 3,511 1,106 – 5,915
Total current liabilities 1,798 7,041 4,912 – 13,751
Noncurrent liabilities:
Long-term debt 3,386 24 – – 3,410
Other liabilities 3,514 2,369 482 – 6,365
Total noncurrent liabilities 6,900 2,393 482 – 9,775
Intercompany 22,356 (22,557) 201 – –
Shareholders’ equity:
Common stock 482 6 2,043 (2,049) 482
Other shareholders’ equity 11,347 32,389 3,011 (35,400) 11,347
Total shareholders’ equity 11,829 32,395 5,054 (37,449) 11,829
Total liabilities and shareholders’ equity $ 42,883 $ 19,272 $ 10,649 $ (37,449) $ 35,355
General Dynamics Annual Report 2014 61