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Technology Stocks : Motorola (MOT) -- Ignore unavailable to you. Want to Upgrade?

To: $Mogul who wrote (2088)	4/10/2001 6:18:51 PM
From: Sr K	Read Replies (3) \| Respond to of 3436

The report is worse than I expected. Balance sheet pressure: Motorola, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In millions) ASSETS March 31, Dec. 31, 2001 2000 -------------- ------------- Cash and cash equivalents $ 4,047 $ 3,301 Short-term investments 350 354 Accounts receivable, net 5,644 7,092 Inventories, net 4,533 5,242 Other current assets 4,095 3,896 -------------- ------------- Total current assets 18,669 19,885 -------------- ------------- Property, plant and equipment, net 11,236 11,157 Investments 4,133 5,926 Other assets 5,483 5,375 -------------- ------------- Total assets $ 39,521 $ 42,343 ============== ============= LIABILITIES AND STOCKHOLDERS' EQUITY Notes payable and current portion of long-term debt $ 4,937 $ 6,391 Accounts payable 2,966 3,492 Accrued liabilities 5,719 6,374 --------------- ------------- Total current liabilities 13,622 16,257 --------------- ------------- Long-term debt 6,673 4,293 Other liabilities 2,097 2,696 No wonder they hired 3 top guns: We have expanded financing relationships with Goldman Sachs Credit Partners L.P., JP Morgan Chase and Citibank/Salomon Smith Barney Inc. Cash flow from businesses, including net proceeds from investments, was positive in the first quarter and we anticipate it to be positive for the full year as well. A major contributor in the first quarter was a reduction in accounts receivable and inventories of over $1.7 billion. With $4.1 B of lt investments and this "Motorola" definition of cash flow, and a non-repeatable shrinkage of A/R and Inventory, they step right up and report cash flow was positive and "we anticipate it to be positive for the full year as well".