Raytheon 2004 Annual Report Download - page 111

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93
Notes to Consolidated Financial Statements (Continued)
Depreciation and Amortization (In millions) 2004 2003 2002
Integrated Defense Systems $57 $53 $47
Intelligence and Information Systems 28 29 27
Missile Systems 46 48 47
Network Centric Systems 62 62 62
Space and Airborne Systems 81 68 66
Technical Services 12 11 10
Aircraft 85 91 88
Other 22 16 12
Corporate 41 15 5
Total $434 $393 $364
Identifiable Assets (In millions) December 31: 2004 2003
Integrated Defense Systems $ 1,756 $ 1,814
Intelligence and Information Systems 1,881 1,922
Missile Systems 4,598 4,486
Network Centric Systems 3,764 3,832
Space and Airborne Systems 4,223 4,074
Technical Services 1,405 1,359
Aircraft 2,327 2,710
Other 1,235 935
Corporate 2,945 3,017
Discontinued Operations 19 59
Total $24,153 $24,208
Operations by Geographic Areas (In millions)
United
States
Outside United States
(Principally Europe) Total
Net sales
2004 $17,925 $2,320 $20,245
2003 15,718 2,391 18,109
2002 14,155 2,605 16,760
Long-lived assets at
December 31, 2004 $ 5,195 $ 318 $ 5,513
December 31, 2003 5,381 223 5,604
The country of destination was used to attribute sales to either United States or Outside United States (excluding
foreign military sales). Sales to major customers in 2004, 2003, and 2002 were: U.S. government, including foreign
military sales, $14,973 million, $13,436 million, and $12,255 million, respectively, including U.S. Department of
Defense, $13,616 million, $11,766 million, and $10,406 million, respectively.
The following table reconciles free cash flow to net cash provided by operating activities from continuing
operations:
(In millions) 2004 2003 2002
Free cash flow $1,455 $1,576 $ 1,639
Plus (less): Expenditures for property, plant, and equipment 363 428 458
Capitalized expenditures for internal use software 103 98 138
Financing receivables activity at Aircraft 193 465 (1,388)
Net cash provided by operating activities from continuing operations $2,114 $2,567 $ 847