| |
|
December 31, |
| (In millions, except per share amounts) |
|
2003 |
2002 |
Assets |
|
|
|
| Current assets: |
|
|
|
| Cash and cash equivalents |
$ |
128.7 |
102.3 |
| Accounts receivable, (net of estimated uncollectible amounts:
2003-$27.6; 2002-$35.5) |
|
580.3 |
540.0 |
| Prepaid expenses and other current assets |
|
59.8 |
58.4 |
| Deferred income taxes |
|
91.7 |
81.3 |
| Total current assets |
|
860.5 |
782.0 |
Property and equipment, net |
|
873.2 |
871.2 |
Goodwill, net |
|
244.1 |
227.9 |
Investments held by Voluntary Employees' Beneficiary Association
trust |
|
105.2 |
18.2 |
Deferred income taxes |
|
282.7 |
349.3 |
Other |
|
182.9 |
211.3 |
Total assets |
$ |
2,548.6 |
2,459.9 |
Liabilities and Shareholders’ Equity
|
|
|
|
| Current liabilities: |
|
|
|
| Short-term borrowings |
$ |
35.8 |
41.8 |
| Current maturities of long-term debt |
|
17.2 |
13.3 |
| Accounts payable |
|
286.9 |
261.9 |
| Accrued liabilities |
|
504.2 |
476.3 |
| Total current liabilities |
|
844.1 |
793.3 |
| |
|
|
|
Long-term debt |
|
221.5 |
304.2 |
Accrued pension costs |
|
86.6 |
122.6 |
Post retirement benefits other than pensions |
|
504.2 |
471.7 |
Deferred revenue |
|
130.7 |
127.0 |
Deferred income taxes |
|
26.5 |
28.4 |
Other |
|
239.4 |
231.5 |
| Total liabilities |
|
2,053.0 |
2,078.7 |
Commitments and contingent liabilities (notes: 4, 6, 13, 14, 15, 18, and 23)
|
|
|
|
|
|
|
|
| Shareholders’ equity: |
|
|
|
| Common stock, par value $1 per share: |
|
|
|
| Authorized: 100.0 shares
| |
|
|
| Issued and outstanding: 54.3 shares |
|
54.3 |
54.3 |
| Capital in excess of par value |
|
383.0 |
383.0 |
| Retained earnings |
|
237.2 |
213.1 |
| Employee benefits trust, at market value |
|
(14.0) |
(33.0) |
| Accumulated other comprehensive income (loss): |
|
|
|
| Minimum pension liabilities |
|
(122.1) |
(137.2) |
| Foreign currency translation |
|
(45.6) |
(93.5) |
| Unrealized gains (losses) on cash flow hedges |
|
0.1 |
(5.2) |
| Unrealized gains (losses) on marketable securities |
|
2.7 |
(0.3) |
| Accumulated other comprehensive
loss |
|
(164.9) |
(236.2) |
Total shareholders’
equity |
|
495.6 |
381.2 |
Total liabilities and
shareholders’ equity |
$ |
2,548.6 |
2,459.9 |
