| FINANCIALS: CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
PAGE 1 OF 1 |
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At December 31, |
| (in millions, except share and per share data) |
2003 |
2002 |
 |
| Assets |
|
| Current Assets |
|
| Cash and cash equivalents |
$ |
1,250 |
$ |
569 |
| Receivables, net |
2,389 |
2,234 |
| Inventories, net |
1,075 |
1,062 |
| Deferred income taxes |
610 |
512 |
| Other current assets |
131 |
157 |
|
| Total current assets |
5,455 |
4,534 |
|
| Property, plant and equipment, net |
5,094 |
5,420 |
| Goodwill |
1,384 |
981 |
| Other long-term assets |
2,885 |
2,559 |
|
| Total Assets |
$ |
14,818 |
$ |
13,494 |
|
| Liabilities and Shareholders’ Equity |
|
| Current Liabilities |
|
| Accounts payable and other current liabilities |
$ |
3,707 |
$ |
3,351 |
| Short-term borrowings |
946 |
1,442 |
| Accrued income taxes |
654 |
709 |
|
| Total current liabilities |
5,307 |
5,502 |
|
| Long-term debt, net of current portion |
2,302 |
1,164 |
| Postretirement liabilities |
3,344 |
3,412 |
| Other long-term liabilities |
601 |
639 |
|
| Total liabilities |
11,554 |
10,717 |
|
| Commitments and Contingencies (Note 11) |
|
| Shareholders’ Equity |
|
Common stock, $2.50 par value;
950,000,000 shares authorized; |
|
| 391,292,760 shares issued in 2003 and 2002; |
|
286,580,671 and 285,933,179 shares
outstanding in 2003 and 2002 |
978 |
978 |
| Additional paid in capital |
850 |
849 |
| Retained earnings |
7,527 |
7,611 |
| Accumulated other comprehensive loss |
(231) |
(771) |
| Unearned restricted stock |
(8) |
— |
|
| |
9,116 |
8,667 |
| Treasury stock, at cost |
|
104,712,089 shares in 2003 and
105,359,581 shares in 2002 |
5,852 |
5,890 |
|
| Total shareholders’ equity |
3,264 |
2,777 |
|
| Total Liabilities and Shareholders’ Equity |
$ |
14,818 |
$ |
13,494 |
|
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| The accompanying notes are an integral part of these consolidated financial statements. |
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