GENERAL DYNAMICS CORP | 2013 | FY | 3


CONDENSED CONSOLIDATING BALANCE SHEETS
December 31, 2012
Parent
Guarantors
on a
Combined
Basis
Other
Subsidiaries
on a
Combined
Basis
Consolidating
Adjustments
Total
Consolidated
ASSETS
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and equivalents
$
2,248

$

$
1,048

$

$
3,296

Accounts receivable

1,254

2,950


4,204

Contracts in process
439

3,199

1,326


4,964

Inventories
 
 
 
 
 
Work in process

1,507

11


1,518

Raw materials

1,020

89


1,109

Finished goods

32

37


69

Pre-owned aircraft

80



80

Other current assets
45

249

210


504

Total current assets
2,732

7,341

5,671


15,744

Noncurrent assets:
 
 
 
 
 
PP&E
155

5,556

1,292


7,003

Accumulated depreciation of PP&E
(56
)
(2,850
)
(694
)

(3,600
)
Intangible assets

1,693

1,222


2,915

Accumulated amortization of intangible assets

(1,068
)
(464
)

(1,532
)
Goodwill

7,661

4,387


12,048

Other assets
700

738

328

(35
)
1,731

Investment in subsidiaries
33,324



(33,324
)

Total noncurrent assets
34,123

11,730

6,071

(33,359
)
18,565

Total assets
$
36,855

$
19,071

$
11,742

$
(33,359
)
$
34,309

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Customer advances and deposits
$

$
3,052

$
2,990

$

$
6,042

Other current liabilities
394

3,743

1,441


5,578

Total current liabilities
394

6,795

4,431


11,620

Noncurrent liabilities:
 
 
 
 
 
Long-term debt
3,881

27



3,908

Other liabilities
4,121

2,704

566


7,391

Total noncurrent liabilities
8,002

2,731

566


11,299

Intercompany
17,069

(17,388
)
319



Shareholders’ equity:
 
 
 
 
 
Common stock
482

6

44

(50
)
482

Other shareholders’ equity
10,908

26,927

6,382

(33,309
)
10,908

Total shareholders’ equity
11,390

26,933

6,426

(33,359
)
11,390

Total liabilities and shareholders’ equity
$
36,855

$
19,071

$
11,742

$
(33,359
)
$
34,309

December 31, 2013
Parent
Guarantors
on a
Combined
Basis
Other
Subsidiaries
on a
Combined
Basis
Consolidating
Adjustments
Total
Consolidated
ASSETS
 
 
 
 
 
Current assets:
 
 
 
 
 
Cash and equivalents
$
4,175

$

$
1,126

$

$
5,301

Accounts receivable

1,451

2,951


4,402

Contracts in process
571

3,124

1,085


4,780

Inventories
 
 
 
 
 
Work in process

1,623

12


1,635

Raw materials

1,172

86


1,258

Finished goods

24

33


57

Pre-owned aircraft

18



18

Other current assets
35

202

198


435

Total current assets
4,781

7,614

5,491


17,886

Noncurrent assets:
 
 
 
 
 
PP&E
156

5,827

1,265


7,248

Accumulated depreciation of PP&E
(64
)
(3,062
)
(707
)

(3,833
)
Intangible assets

1,614

1,230


2,844

Accumulated amortization of intangible assets

(1,111
)
(516
)

(1,627
)
Goodwill

7,631

4,346


11,977

Other assets
558

483

398

(486
)
953

Investment in subsidiaries
36,067



(36,067
)

Total noncurrent assets
36,717

11,382

6,016

(36,553
)
17,562

Total assets
$
41,498

$
18,996

$
11,507

$
(36,553
)
$
35,448

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
Current liabilities:
 
 
 
 
 
Customer advances and deposits
$

$
3,493

$
3,091

$

$
6,584

Other current liabilities
763

3,643

1,204


5,610

Total current liabilities
763

7,136

4,295


12,194

Noncurrent liabilities:
 
 
 
 
 
Long-term debt
3,883

25



3,908

Other liabilities
2,335

2,008

502


4,845

Total noncurrent liabilities
6,218

2,033

502


8,753

Intercompany
20,016

(20,108
)
92



Shareholders’ equity:
 
 
 
 
 
Common stock
482

6

3,570

(3,576
)
482

Other shareholders’ equity
14,019

29,929

3,048

(32,977
)
14,019

Total shareholders’ equity
14,501

29,935

6,618

(36,553
)
14,501

Total liabilities and shareholders’ equity
$
41,498

$
18,996

$
11,507

$
(36,553
)
$
35,448


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