Analysis: Analyze the Balance Sheet by examining the assets, liabilities, and equity trends over time. Identify any significant changes in the components and explain their potential impact on the business. Discuss any challenges or limitations in interpreting the statement.

CONSOLIDATED BALANCE SHEET

	December 31
(Dollars in millions)	2023		2022
ASSETS
Current assets:
Cash and equivalents	$	1,913			$	1,242
Accounts receivable	3,004			3,008
Unbilled receivables	7,997			8,795
Inventories	8,578			6,322
Other current assets	2,123			1,696
Total current assets	23,615			21,063
Noncurrent assets:
Property, plant and equipment, net	6,198			5,900
Intangible assets, net	1,656			1,824
Goodwill	20,586			20,334
Other assets	2,755			2,464
Total noncurrent assets	31,195			30,522
Total assets	$	54,810			$	51,585
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt and current portion of long-term debt	$	507			$	1,253
Accounts payable	3,095			3,398
Customer advances and deposits	9,564			7,436
Other current liabilities	3,266			3,254
Total current liabilities	16,432			15,341
Noncurrent liabilities:
Long-term debt	8,754			9,243
Other liabilities	8,325			8,433
Commitments and contingencies (see Note M)
Total noncurrent liabilities	17,079			17,676
Shareholders' equity:
Common stock	482			482
Surplus	3,760			3,556
Retained earnings	39,270			37,403
Treasury stock	(21,054)			(20,721)
Accumulated other comprehensive loss	(1,159)			(2,152)
Total shareholders' equity	21,299			18,568
Total liabilities and shareholders' equity	$	54,810			$	51,585