Lockheed Martin 2003 Annual Report Download - page 45

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43
December 31,
(In millions) 2003 2002
ASSETS
Current assets:
Cash and cash equivalents $ 1,010 $ 2,738
Short-term investments 240 —
Receivables 4,039 3,655
Inventories 2,348 2,250
Deferred income taxes 921 1,277
Other current assets 843 706
Total current assets 9,401 10,626
Property, plant and equipment, net 3,489 3,258
Investments in equity securities 1,060 1,009
Goodwill 7,879 7,380
Purchased intangibles, net 807 814
Prepaid pension asset 1,213 1,221
Other assets 2,326 2,671
$26,175 $26,979
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 1,434 $ 1,102
Customer advances and amounts in excess of costs incurred 4,256 4,542
Salaries, benefits and payroll taxes 1,418 1,272
Income taxes 91 107
Current maturities of long-term debt 136 1,365
Other current liabilities 1,558 1,433
Total current liabilities 8,893 9,821
Long-term debt 6,072 6,217
Post-retirement benefit liabilities 1,440 1,480
Accrued pension liabilities 1,100 1,872
Other liabilities 1,914 1,724
Stockholders’ equity:
Common stock, $1 par value per share 446 455
Additional paid-in capital 2,477 2,796
Retained earnings 5,054 4,262
Unearned ESOP shares (17) (50)
Accumulated other comprehensive loss (1,204) (1,598)
Total stockholders’ equity 6,756 5,865
$26,175 $26,979
See accompanying Notes to Consolidated Financial Statements.
Lockheed Martin Corporation
CONSOLIDATED BALANCE SHEET