Raytheon 2012 Annual Report Download - page 87
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79
RAYTHEON COMPANY
CONSOLIDATED BALANCE SHEETS
(In millions, except per share amount) December 31: 2012 2011
Assets
Current assets
Cash and cash equivalents $ 3,188 $ 4,000
Short-term investments 856 —
Contracts in process, net 4,543 4,526
Inventories 381 336
Deferred taxes 96 221
Prepaid expenses and other current assets 182 226
Total current assets 9,246 9,309
Property, plant and equipment, net 1,986 2,006
Deferred taxes 1,367 657
Goodwill 12,756 12,544
Other assets, net 1,331 1,338
Total assets $26,686 $ 25,854
Liabilities and Equity
Current liabilities
Advance payments and billings in excess of costs incurred $ 2,398 $ 2,542
Accounts payable 1,348 1,507
Accrued employee compensation 1,014 941
Other accrued expenses 1,142 1,140
Total current liabilities 5,902 6,130
Accrued retiree benefits and other long-term liabilities 7,854 6,774
Deferred taxes 95
Long-term debt 4,731 4,605
Commitments and contingencies (Note 11)
Equity
Raytheon Company stockholders’ equity
Common stock, par value, $0.01 per share, 1,450 shares authorized, 328 and 339 shares
outstanding at 2012 and 2011, respectively. 33
Additional paid-in capital 2,928 3,523
Accumulated other comprehensive loss (7,788)(7,001)
Retained earnings 12,883 11,656
Total Raytheon Company stockholders’ equity 8,026 8,181
Noncontrolling interests in subsidiaries 164 159
Total equity 8,190 8,340
Total liabilities and equity $26,686 $25,854
The accompanying notes are an integral part of the consolidated financial statements.