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Raytheon Co. (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, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 3,608  3,103  3,303  2,328  3,222 
Short-term investments —  297  100  872  1,497 
Receivables, net 1,648  1,324  1,218  1,169  1,038 
Contract assets 5,594  5,247  4,984  4,395  3,947 
Inventories 758  594  659  635  414 
Prepaid expenses and other current assets 528  761  414  413  174 
Current assets 12,136  11,326  10,678  9,812  10,292 
Property, plant and equipment, net 2,840  2,439  2,166  2,005  1,935 
Goodwill 14,864  14,871  14,788  14,731  13,061 
Marketable securities held in trust 642  633  550  525  519 
Computer software, net of accumulated amortization 261  288  291  294  313 
Other intangible assets, net of accumulated amortization 361  481  598  700  303 
Deferred tax asset 331  537  753  906  1,231 
Other noncurrent assets, net 429  285  228  308  246 
Other assets, net 2,024  2,224  2,420  2,733  2,612 
Noncurrent assets 19,728  19,534  19,374  19,469  17,608 
Total assets 31,864  30,860  30,052  29,281  27,900 

Based on: 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), 10-K (filing date: 2015-02-11).


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 2016 to 2017 and from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.

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 decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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. Raytheon Co.’s short-term investments increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.
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 decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.