Raytheon 2009 Annual Report Download - page 83
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RAYTHEON COMPANY
CONSOLIDATED BALANCE SHEETS
(In millions, except per share amount) December 31: 2009 2008
Assets
Current assets
Cash and cash equivalents $ 2,642 $ 2,259
Accounts receivable, net 120 105
Contracts in process 4,373 3,793
Inventories 344 325
Current tax asset —441
Deferred taxes 273 395
Prepaid expenses and other current assets 116 99
Total current assets 7,868 7,417
Property, plant and equipment, net 2,001 2,024
Deferred taxes 436 735
Prepaid retiree benefits 111 56
Goodwill 11,922 11,662
Other assets, net 1,269 1,240
Total assets $23,607 $23,134
Liabilities and Equity
Current liabilities
Advance payments and billings in excess of costs incurred $ 2,224 $ 1,970
Accounts payable 1,397 1,201
Accrued employee compensation 868 913
Other accrued expenses 1,034 1,065
Total current liabilities 5,523 5,149
Accrued retiree benefits and other long-term liabilities 5,793 6,488
Deferred taxes 23 —
Long-term debt 2,329 2,309
Commitments and contingencies (note 11)
Equity
Raytheon Company stockholders’ equity
Common stock, par value $0.01 per share, 1,450 shares authorized, 378 and 400 shares
outstanding in 2009 and 2008, respectively, after deducting 107 and 81 treasury shares
in 2009 and 2008, respectively 44
Additional paid-in capital 10,991 10,873
Accumulated other comprehensive loss (4,824) (5,182)
Treasury stock, at cost (5,446) (4,254)
Retained earnings 9,102 7,646
Total Raytheon Company stockholders’ equity 9,827 9,087
Noncontrolling interests in subsidiaries 112 101
Total equity 9,939 9,188
Total liabilities and equity $23,607 $23,134
The accompanying notes are an integral part of the consolidated financial statements.
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