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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