| |
| At December 31, (in millions, except share and per share data) |
2000 |
|
1999 |
|
| |
| Assets |
|
|
|
|
|
| Current Assets |
|
|
|
|
|
| Cash and cash equivalents |
$ |
246 |
|
$ |
373 |
| Marketable securities |
|
5 |
|
|
20 |
| Receivables |
|
2,653 |
|
|
2,537 |
| Inventories |
|
1,718 |
|
|
1,519 |
| Deferred income tax charges |
|
575 |
|
|
689 |
| Other |
|
294 |
|
|
306 |
|
| Total current assets |
|
5,491 |
|
|
5,444 |
|
| Properties |
|
|
|
|
|
| Land, buildings and equipment at cost |
|
12,963 |
|
|
13,289 |
| Less: Accumulated depreciation |
|
7,044 |
|
|
7,342 |
|
| Net properties |
|
5,919 |
|
|
5,947 |
|
| Other Assets |
|
|
|
|
|
| Goodwill (net of accumulated amortization of $778 and $671) |
|
947 |
|
|
982 |
| Long-term receivables and other noncurrent assets |
|
1,767 |
|
|
1,801 |
| Deferred income tax charges |
|
88 |
|
|
196 |
|
| Total Assets |
$ |
14,212 |
|
$ |
14,370 |
|
| Liabilities and Shareholders’ Equity |
|
|
|
|
|
| Current Liabilities |
|
|
|
|
|
| Payables |
$ |
3,275 |
|
$ |
3,832 |
| Short-term borrowings |
|
2,206 |
|
|
1,163 |
| Taxes — income and other |
|
572 |
|
|
612 |
| Dividends payable |
|
128 |
|
|
139 |
| Deferred income tax credits |
|
34 |
|
|
23 |
|
| Total current liabilities |
|
6,215 |
|
|
5,769 |
|
| Other Liabilities |
|
|
|
|
|
| Long-term borrowings |
|
1,166 |
|
|
936 |
| Postemployment liabilities |
|
2,610 |
|
|
2,776 |
| Other long-term liabilities |
|
732 |
|
|
918 |
| Deferred income tax credits |
|
61 |
|
|
59 |
|
| Total liabilities |
|
10,784 |
|
|
10,458 |
|
| Shareholders’ Equity |
|
|
|
|
|
| Common stock, par value $2.50 per share 950,000,000 shares authorized;issued 391,292,760 shares in 2000 and 1999 |
|
978 |
|
|
978 |
| Additional paid in capital |
|
871 |
|
|
889 |
| Retained earnings |
|
7,869 |
|
|
6,995 |
| Accumulated other comprehensive loss |
|
(482) |
|
|
(145) |
|
| |
|
9,236 |
|
|
8,717 |
| Treasury stock, at cost 100,808,494 shares in 2000 and 80,871,830 shares in 1999 |
|
5,808 |
|
|
4,805 |
|
| Total shareholders’ equity |
|
3,428 |
|
|
3,912 |
|
| Total Liabilities and Shareholders’ Equity |
$ |
14,212 |
|
$ |
14,370 |
|
|
The accompanying notes are an integral part of these financial statements.
|
|
|
| |
|
|