|
Financial Statements
|
|
Consolidated Balance Sheets
September 30
Thousands of dollars, except per-share amounts and numbers of shares
|
| |
|
2004 |
|
|
2003 |
|
|
Assets
Current Assets
Cash and equivalents |
$ |
719,378 |
|
$ |
519,886 |
|
| Short-term investments |
|
32,119 |
|
|
— |
|
| Trade receivables, net |
|
807,380 |
|
|
772,067 |
|
| Inventories |
|
738,778 |
|
|
776,220 |
|
| Prepaid expenses, deferred taxes and other |
|
279,985 |
|
|
239,983 |
|
| Assets held for sale |
|
63,694 |
|
|
195,303 |
|
|
| Total Current Assets |
|
2,641,334 |
|
|
2,503,459 |
|
| Property, Plant and Equipment, Net |
|
1,880,997 |
|
|
1,831,791 |
|
| Goodwill, Net |
|
473,211 |
|
|
445,854 |
|
| Core and Developed Technology, Net |
|
188,541 |
|
|
193,238 |
|
| Other Intangibles, Net |
|
93,466 |
|
|
102,538 |
|
| Capitalized Software, Net |
|
283,918 |
|
|
305,536 |
|
| Other |
|
191,112 |
|
|
189,837 |
|
|
| Total Assets |
$ |
5,752,579 |
|
$ |
5,572,253 |
|
|
Liabilities
Current Liabilities
Short-term debt |
$ |
49,289 |
|
$ |
121,858 |
|
| Accounts payable |
|
206,941 |
|
|
219,804 |
|
| Accrued expenses |
|
384,936 |
|
|
358,931 |
|
| Salaries, wages and related items |
|
307,996 |
|
|
258,749 |
|
| Income taxes |
|
86,739 |
|
|
74,986 |
|
| Liabilities held for sale |
|
14,181 |
|
|
25,114 |
|
|
| Total Current Liabilities |
|
1,050,082 |
|
|
1,059,442 |
|
| Long-Term Debt |
|
1,171,506 |
|
|
1,184,016 |
|
| Long-Term Employee Benefit Obligations |
|
374,222 |
|
|
328,254 |
|
| Deferred Income Taxes and Other |
|
88,906 |
|
|
103,587 |
|
Commitments and Contingencies |
|
— |
|
|
— |
|
Shareholders' Equity
ESOP convertible preferred stock–$1 par value: authorized–1,016,949 shares;
issued and outstanding–527,819 shares in 2004 and
583,753 shares in 2003 |
|
31,142 |
|
|
34,448 |
|
| Preferred stock, series A–$1 par value: authorized–500,000 shares; none issued |
|
— |
|
|
— |
|
Common stock–$1 par value: authorized–640,000,000 shares;
issued–332,662,160 shares in 2004 and 2003 |
|
332,662 |
|
|
332,662 |
|
| Capital in excess of par value |
|
414,515 |
|
|
257,178 |
|
| Retained earnings |
|
4,264,778 |
|
|
3,950,592 |
|
| Unearned ESOP compensation |
|
— |
|
|
(3,693 |
) |
| Deferred compensation |
|
10,222 |
|
|
8,974 |
|
Common shares in treasury–at cost–83,327,295 shares in 2004 and
81,528,882 shares in 2003 |
|
(1,816,756 |
) |
|
(1,439,934 |
) |
| Accumulated other comprehensive loss |
|
(168,700 |
) |
|
(243,273 |
) |
|
| Total Shareholders' Equity |
|
3,067,863 |
|
|
2,896,954 |
|
|
| Total Liabilities and Shareholders' Equity |
$ |
5,752,579 |
|
$ |
5,572,253 |
|
|
See notes to consolidated financial statements |
|
|
|
