Consolidated Balance Sheet

			IN MILLIONS OF DOLLARS, EXCEPT PER SHARE (SHARES IN THOUSANDS)			2002			2001
			Assets
			Cash and cash equivalents		$	2,080		$	1,558
			Accounts receivable (net of allowance for doubtful accounts of $380 and $404)			4,277			4,141
			Inventories and contracts in progress			3,719			3,966
			Future income tax benefits			1,431			1,378
			Other current assets			244			261
			Total Current Assets			11,751			11,304
			Customer financing assets			771			665
			Future income tax benefits			1,658			1,205
			Fixed assets			4,587			4,549
			Goodwill			6,981			6,802
			Other assets			3,342			2,485
			Total Assets		$	29,090		$	27,010
			Liabilities and Shareowners' Equity
			Short-term borrowings		$	197		$	588
			Accounts payable			2,095			2,156
			Accrued liabilities			5,567			5,534
			Long-term debt currently due			44			134
			Total Current Liabilities			7,903			8,412
			Long-term debt			4,632			4,237
			Future pension and postretirement benefit obligations			5,088			2,703
			Other long-term liabilities			2,095			2,310
			Commitments and contingent liabilities (Notes 4 and 16)
			Minority interests in subsidiary companies			589			550
			Series A ESOP Convertible Preferred Stock, $1 par value
			Authorized-20,000 shares
			Outstanding-10,945 and 11,307 shares			718			743
			ESOP deferred compensation			(290)			(314)
						428			429
			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 607,038 and 603,076 shares			5,447			5,090
			Treasury Stock-137,418 and 130,917 common shares at cost			(4,951)			(4,404)
			Retained earnings			10,836			9,149
			Accumulated other non-shareowners' changes in equity:
			Foreign currency translation			(832)			(889)
			Minimum pension liability			(2,151)			(563)
			Other			6			(14)
						(2,977)			(1,466)
			Total Shareowners' Equity			8,355			8,369
			Total Liabilities and Shareowners' Equity		$	29,090		$	27,010

See accompanying Notes to Consolidated Financial Statements