2019 Integrated Annual Report
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financial statements

Condensed Consolidated Balance Sheets

As of June 30
Dollars in millions, except share and per share data
2019 2018
ASSETS
Current assets
Cash and cash equivalents $111 $131
Receivables, net 631 600
Inventories, net 512 506
Prepaid expenses and other current assets 51 742
Total current assets 1,305 1,311
Property, plant and equipment, net 1,034 996
Goodwill 1,591 1,602
Trademarks, net 791 795
Other intangible assets, net 121 134
Other assets 274 222
Total assets $5,116 $5,060
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Notes and loans payable $396 $199
Accounts payable and accrued liabilities 1,035 1,001
Income taxes payable 9
Total current liabilities 1,440 1,200
Long-term debt 2,287 2,284
Other liabilities 780 778
Deferred income taxes 50 72
Total liabilities 4,557 4,334
Commitments and contingencies
Stockholders’ equity
Preferred stock: $1.00 par value; 5,000,000 shares authorized; none issued or outstanding
Common stock: $1.00 par value; 750,000,000 shares authorized; 158,741,461 shares issued
as of June 30, 2019 and 2018; and 125,686,325 and 127,982,767 shares outstanding as of
June 30, 2019 and 2018, respectively
159 159
Additional paid-in capital 1,046 975
Retained earnings 3,150 2,797
Treasury shares, at cost: 33,055,136 and 30,758,694 shares as of June 30, 2019 and 2018, respectively (3,194) (2,658)
Accumulated other comprehensive net (loss) income (602) (547)
Stockholders’ equity 559 726
Total liabilities and stockholders’ equity $5,116 $5,060