32 Annual Report 2003 ATI December 31,) December 31,) 2003) 2002) Assets Cash and cash equivalents $0,079.6) $0,059.4) Accounts receivable, net 248.8) 239.3) Inventories, net 359.7) 392.3) Income tax refunds 7.2) 51.9) Deferred income taxes —) 20.8) Prepaid expenses and other current assets 48.0) 32.0) Total Current Assets 743.3) 795.7) Property, plant and equipment, net 711.1) 757.6) Cost in excess of net assets acquired 198.4) 194.4) Deferred pension asset 144.0) 165.1) Deferred income taxes 34.3) 85.4) Other assets 53.8) 95.0) Total Assets $1,884.9) $2,093.2) Liabilities and Stockholders’ Equity  Accounts payable $0,172.3) $0,171.3) Accrued liabilities 194.6) 161.0) Short-term debt and current portion of long-term debt 27.8) 9.7) Total Current Liabilities 394.7) 342.0) Long-term debt 504.3) 509.4) Accrued postretirement benefits 507.2) 496.4) Pension liabilities  220.6) 216.0) Other long-term liabilities  83.4) 80.6) Total Liabilities 1,710.2) 1,644.4) Stockholders’ Equity: Preferred stock, par value $0.10: authorized - 50,000,000 shares; issued - none —) —) Common stock, par value $0.10: authorized - 500,000,000 shares; issued 98,951,490 at 2003 and 2002; outstanding - 80,654,861 shares at 2003 and 80,634,344 shares at 2002 9.9) 9.9) Additional paid-in capital 481.2) 481.2) Retained earnings 483.8) 835.1) Treasury stock: 18,296,629 shares at 2003 and 18,317,146 shares at 2002 (458.4) (469.7) Accumulated other comprehensive loss, net of tax  (341.8) (407.7) Total Stockholders’ Equity 174.7) 448.8) Total Liabilities and Stockholders’ Equity $1,884.9) $2,093.2) (In millions except share and per share amounts) Allegheny Technologies Incorporated and Subsidiaries Consolidated Balance Sheets The accompanying notes are an integral part of these statements.