3M 2004 Annual Report Download - page 67

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41
Consolidated Balance Sheet
3M Company and Subsidiaries
At December 31
(Dollars in millions, except per share amount) 2004 2003
Assets
Current assets
Cash and cash equivalents $ 2,757 $ 1,836
Accounts receivable – net 2,792 2,714
Inventories 1,897 1,816
Other current assets 1,274 1,354
Total current assets 8,720 7,720
Investments 227 218
Property, plant and equipment – net 5,711 5,609
Goodwill 2,655 2,419
Intangible assets 277 274
Prepaid pension and postretirement benefits 2,591 633
Other assets 527 727
Total assets $20,708 $17,600
Liabilities and Stockholders’ Equity
Current liabilities
Short-term borrowings and current portion of long-term debt $ 2,094 $ 1,202
Accounts payable 1,168 1,087
Accrued payroll 487 436
Accrued income taxes 867 880
Other current liabilities 1,455 1,477
Total current liabilities 6,071 5,082
Long-term debt 727 1,735
Other liabilities 3,532 2,898
Total liabilities $10,330 $ 9,715
Commitments and contingencies (Note 12)
Stockholders’ equity
Common stock, par value $.01 per share 9 9
Shares outstanding – 2004: 773,518,281
Shares outstanding – 2003: 784,117,360
Capital in excess of par value 287 287
Retained earnings 15,649 14,010
Treasury stock (5,503) (4,641)
Unearned compensation (196) (226)
Accumulated other comprehensive income (loss) 132 (1,554)
Stockholders’ equity – net 10,378 7,885
Total liabilities and stockholders’ equity $20,708 $17,600
The accompanying Notes to Consolidated Financial Statements are an integral part of this statement.