The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements. * Prior-period information has been restated for the retrospective application of a change in accounting principle related to the amortization of actuarial gains and losses for our qualified U.S. government pension plans, which we adopted in the fourth quarter of 2020. For further discussion of this change in accounting principle, see Note T to the Consolidated Financial Statements. 55 December 31 (Dollars in millions) 2020 2019* ASSETS Current assets: Cash and equivalents $ 2,824  $ 902  Accounts receivable 3,161  3,544  Unbilled receivables 8,024  7,857  Inventories 5,745  6,306  Other current assets 1,789  1,679  Total current assets 21,543  20,288  Noncurrent assets: Property, plant and equipment, net 5,100  4,475  Intangible assets, net 2,117  2,315  Goodwill 20,053  19,677  Other assets 2,495  2,594  Total noncurrent assets 29,765  29,061  Total assets $ 51,308  $ 49,349  LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 3,003  $ 2,920  Accounts payable 2,952  3,162  Customer advances and deposits 6,276  7,148  Other current liabilities 3,733  3,571  Total current liabilities 15,964  16,801  Noncurrent liabilities: Long-term debt 9,995  9,010  Other liabilities 9,688  9,560  Commitments and contingencies (see Note O) Total noncurrent liabilities 19,683  18,570  Shareholders’ equity: Common stock 482  482  Surplus 3,124  3,039  Retained earnings 33,498  31,633  Treasury stock (17,893) (17,358) Accumulated other comprehensive loss (3,550) (3,818) Total shareholders’ equity 15,661  13,978  Total liabilities and shareholders’ equity $ 51,308  $ 49,349  CONSOLIDATED BALANCE SHEET