Consolidated Balance Sheet

IN MILLIONS OF DOLLARS, EXCEPT PER SHARE (SHARES IN THOUSANDS)			2001			2000
Assets
Cash and cash equivalents		$	1,558		$	748
Accounts receivable (net of allowance for doubtful accounts of $452 and $412)			4,093			4,445
Inventories and contracts in progress			3,973			3,756
Future income tax benefits			1,378			1,439
Other current assets			261			274
Total Current Assets			11,263			10,662
Customer financing assets			665			550
Future income tax benefits			1,205			1,065
Fixed assets			4,549			4,487
Goodwill (net of accumulated amortization of $910 and $681)			6,802			6,771
Other assets			2,485			1,829
Total Assets		$	26,969		$	25,364
Liabilities and Shareowners' Equity
Short-term borrowings		$	588		$	1,039
Accounts payable			2,156			2,261
Accrued liabilities			5,493			5,748
Long-term debt currently due			134			296
Total Current Liabilities			8,371			9,344
Long-term debt			4,237			3,476
Future pension and postretirement benefit obligations			2,703			1,636
Other long-term liabilities			2,310			2,317
Commitments and contingent liabilities (Notes 4 and 14)
Minority interests in subsidiary companies			550			497
Series A ESOP Convertible Preferred Stock, $1 par value
Authorized-20,000 shares
Outstanding-11,307 and 11,642 shares			743			767
ESOP deferred compensation			(314)			(335)
			429			432
Shareowners' Equity:
Capital Stock:
Preferred Stock, $1 par value; Authorized-250,000 shares; None issued or outstanding			—			—
Common Stock, $1 par value; Authorized-2,000,000 shares; Issued 603,076 and 597,213 shares			5,090			4,665
Treasury Stock-130,917 and 126,907 common shares at cost			(4,404)			(3,955)
Retained earnings			9,149			7,743
Accumulated other non-shareowners' changes in equity:
Foreign currency translation			(889)			(747)
Minimum pension liability			(563)			(44)
Other			(14)			—
			(1,466)			(791)
Total Shareowners' Equity			8,369			7,662
Total Liabilities and Shareowners' Equity		$	26,969		$	25,364

See accompanying Notes to Consolidated Financial Statements