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Raytheon Co. (NYSE:RTN)


Balance Sheet: Assets

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Raytheon Co., consolidated balance sheet: assets

US$ in millions

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Cash and cash equivalents 4,292  3,608  3,103  3,303  2,328 
Short-term investments —  —  297  100  872 
Receivables, net 1,364  1,648  1,324  1,218  1,169 
Contract assets 6,122  5,594  5,247  4,984  4,395 
Inventories 671  758  594  659  635 
Prepaid expenses and other current assets 633  528  761  414  413 
Current assets 13,082  12,136  11,326  10,678  9,812 
Property, plant and equipment, net 3,353  2,840  2,439  2,166  2,005 
Operating lease right-of-use assets 875  —  —  —  — 
Goodwill 14,882  14,864  14,871  14,788  14,731 
Marketable securities held in trust 753  642  633  550  525 
Computer software, net of accumulated amortization 252  261  288  291  294 
Other intangible assets, net of accumulated amortization 283  361  481  598  700 
Deferred tax asset 534  331  537  753  906 
Other noncurrent assets, net 552  429  285  228  308 
Other assets, net 2,374  2,024  2,224  2,420  2,733 
Noncurrent assets 21,484  19,728  19,534  19,374  19,469 
Total assets 34,566  31,864  30,860  30,052  29,281 

Based on: 10-K (filing date: 2020-02-12), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Raytheon Co.’s current assets increased from 2017 to 2018 and from 2018 to 2019.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Raytheon Co.’s property, plant and equipment, net increased from 2017 to 2018 and from 2018 to 2019.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Raytheon Co.’s noncurrent assets increased from 2017 to 2018 and from 2018 to 2019.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Raytheon Co.’s total assets increased from 2017 to 2018 and from 2018 to 2019.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Raytheon Co.’s cash and cash equivalents increased from 2017 to 2018 and from 2018 to 2019.
Short-term investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.
Receivables, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Raytheon Co.’s receivables, net increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Raytheon Co.’s inventories increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.