Statements

Consolidated Balance Sheets
September 30
Thousands of dollars, except per-share amounts and numbers of shares

		2003			2002
Assets
Current Assets
Cash and equivalents	$	519,886		$	243,115
Short-term investments		—			1,850
Trade receivables, net		781,342			745,998
Inventories		795,014			686,219
Prepaid expenses, deferred taxes and other		242,327			240,048
Total Current Assets		2,338,569			1,917,230
Property, Plant and Equipment, Net		1,844,771			1,765,730
Goodwill, Net		536,788			492,327
Core and Developed Technology, Net		242,683			283,166
Other Intangibles, Net		111,713			126,758
Capitalized Software, Net		305,608			284,109
Other		192,121			159,663
Total Assets	$	5,572,253		$	5,028,983
Liabilities
Current Liabilities
Short-term debt	$	121,920		$	434,642
Accounts payable		221,462			224,645
Accrued expenses		362,862			310,238
Salaries, wages and related items		262,144			225,694
Income taxes		74,986			52,873
Total Current Liabilities		1,043,374			1,248,092
Long-Term Debt		1,184,031			802,967
Long-Term Employee Benefit Obligations		328,807			391,607
Deferred Income Taxes and Other		119,087			105,459
Commitments and Contingencies		—			—
Shareholders’ Equity
ESOP convertible preferred stock–$1 par value:
authorized–1,016,949 shares; issued and outstanding–583,753 shares
in 2003 and 639,262 shares in 2002		34,448			37,945
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 2003 and 2002		332,662			332,662
Capital in excess of par value		257,178			185,122
Retained earnings		3,950,592			3,507,349
Unearned ESOP compensation		(3,693	)		(7,847	)
Deferred compensation		8,974			8,496
Common shares in treasury–at cost–81,528,882 shares in 2003
and 77,132,248 shares in 2002	(1,439,934		)	(1,137,583		)
Accumulated other comprehensive loss		(243,273	)		(445,286	)
Total Shareholders’ Equity		2,896,954			2,480,858
Total Liabilities and Shareholders’ Equity	$	5,572,253		$	5,028,983