Exelis Reports Solid Second-Quarter 2012 Financial Results;

Exelis Reports Solid Second-Quarter 2012 Financial Results; Maintains 2012 Full-Year Outlook


Exelis Inc.
Consolidated and Combined Balance Sheets
(unaudited)


(IN MILLIONS)		June 30,			December 31,
		2012			2011
Assets
Current assets
Cash and cash equivalents	$	166		$	116
Receivables, net		1,177			1,061
Inventories, net		338			337
Deferred tax asset		61			106
Other current assets		50			49
Total current assets		1,792			1,669
Plant, property and equipment, net		504			494
Goodwill		2,167			2,154
Other intangible assets, net		200			211
Deferred tax asset		422			507
Other non-current assets		62			64
Total non-current assets		3,355			3,430
Total assets	$	5,147		$	5,099
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt	$	257		$	—
Accounts payable		428			447
Advance payments and billings in excess of costs		349			378
Compensation and other employee benefits		228			250
Other accrued liabilities		191			199
Total current liabilities		1,453			1,274
Postretirement benefit plans		1,853			2,149
Long-term debt		649			649
Deferred tax liability		1			1
Other non-current liabilities		130			133
Total non-current liabilities		2,633			2,932
Total liabilities		4,086			4,206
Commitments and contingencies
Shareholders' equity
Common stock		2			2
Additional paid-in capital		2,550			2,523
Retained earnings		139			23
Accumulated other comprehensive loss		(1,630	)		(1,655	)
Total shareholders' equity		1,061			893
Total liabilities and shareholders' equity	$	5,147		$	5,099

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 Next Page »