| FINANCIALS: CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
PAGE 1 OF 1 |
 |
 |
| |
At December 31 |
| (in millions, except share and per share data) |
2002 |
|
2001 |
 |
| ASSETS |
|
|
|
|
|
| Current Assets |
|
|
|
|
|
| Cash and cash equivalents |
$ |
569 |
|
$ |
448 |
| Receivables, net |
|
2,234 |
|
|
2,337 |
| Inventories, net |
|
1,062 |
|
|
1,071 |
| Deferred income taxes |
|
512 |
|
|
521 |
| Other current assets |
|
157 |
|
|
240 |
 |
| Total current assets |
|
4,534 |
|
|
4,617 |
 |
| Property, plant and equipment, net |
|
5,420 |
|
|
5,659 |
| Goodwill, net |
|
981 |
|
|
948 |
| Other long-term assets |
|
2,434 |
|
|
2,138 |
 |
| Total Assets |
$ |
13,369 |
|
$ |
13,362 |
 |
| LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
| Current Liabilities |
|
|
|
|
|
| Accounts payable and other current liabilities |
$ |
3,351 |
|
$ |
3,276 |
| Short-term borrowings |
|
1,442 |
|
|
1,534 |
| Accrued income taxes |
|
584 |
|
|
544 |
 |
| Total current liabilities |
|
5,377 |
|
|
5,354 |
 |
| Long-term debt, net of current portion |
|
1,164 |
|
|
1,666 |
| Postretirement liabilities |
|
3,412 |
|
|
2,728 |
| Other long-term liabilities |
|
639 |
|
|
720 |
 |
| Total Liabilities |
|
10,592 |
|
|
10,468 |
 |
| Commitments and Contingencies (Note 10) |
|
|
|
|
|
| Shareholder's Equity |
|
|
|
|
|
| Common stock, $2.50 par value; |
|
|
|
|
|
950,000,000 shares authorized; 391,292,760 shares issued in 2002 and 2001; |
|
|
|
|
|
285,933,179 and 290,929,701 shares outstanding in 2002 and 2001 |
|
978 |
|
|
978 |
| Additional paid in capital |
|
849 |
|
|
849 |
| Retained earnings |
|
7,611 |
|
|
7,431 |
| Accumulated other comprehensive loss |
|
(771) |
|
|
(597) |
 |
| |
|
8,667 |
|
|
8,661 |
| Treasury stock, at cost |
|
|
|
|
|
| 105,359,581 shares in 2002 and 100,363,059 shares in 2001 |
|
5,890 |
|
|
5,767 |
 |
| Total shareholders' equity |
|
2,777 |
|
|
2,894 |
 |
| Total Liabilities and Shareholders' Equity |
$ |
13,369 |
|
$ |
13,362 |
 |
|
The accompanying notes are an integral part of these consolidated financial statements.
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