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Consolidated Balance Sheets - USD ($) $ in Millions Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2015 Change Current assets: Cash

Consolidated Balance Sheets - USD ($) $ in Millions Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2016 Dec. 31, 2015 Change
Current assets:
Cash and cash equivalents $ 522 $ 936 1.80% 3.46% -1.66%
Accounts receivable, less allowances of $131 and $57, respectively 938 571 3.23% 2.11% 1.12%
Restricted cash 8,444 0.00% 31.18% -31.18%
Prepaid expenses 88 100 0.30% 0.37% -0.07%
Income taxes and other current assets 108 80 0.37% 0.30% 0.08%
Total current assets 1,656 10,131 5.71% 37.41% -31.70%
Property, plant and equipment, net 14,902 8,493 51.36% 31.36% 20.01%
Goodwill 9,674 7,166 33.34% 26.46% 6.89%
Other intangibles, net 2,662 1,143 9.18% 4.22% 4.95%
Other assets 119 151 0.41% 0.56% -0.15%
Total assets 29,013 27,084 100.00% 100.00% 0.00%
Current liabilities: 0.00% 0.00% 0.00%
Long-term debt due within one year 363 384 1.25% 1.42% -0.17%
Accounts payable 698 467 2.41% 1.72% 0.68%
Advanced billings 301 160 1.04% 0.59% 0.45%
Accrued other taxes 134 87 0.46% 0.32% 0.14%
Accrued interest 437 403 1.51% 1.49% 0.02%
Pension and other postretirement benefits 23 33 0.08% 0.12% -0.04%
Other current liabilities 488 359 1.68% 1.33% 0.36%
Total current liabilities 2,444 1,893 8.42% 6.99% 1.43%
Deferred income taxes 2,516 2,666 8.67% 9.84% -1.17%
Pension and other postretirement benefits 1,602 1,163 5.52% 4.29% 1.23%
Other liabilities 372 240 1.28% 0.89% 0.40%
Long-term debt 17,560 15,508 60.52% 57.26% 3.27%
Equity:
Preferred stock, $0.01 par value (50,000 authorized shares, 11.125%, Series A, 19,250 shares issued and outstanding)
Common stock, $0.25 par value (1,750,000 authorized shares, 1,192,986 issued, and 1,172,553 and 1,168,200 outstanding, at December 31, 2016 and 2015, respectively) 298 298 1.03% 1.10% -0.07%
Additional paid-in capital 5,283 6,034 18.21% 22.28% -4.07%
Accumulated deficit (460) (87) -1.59% -0.32% -1.26%
Accumulated other comprehensive loss, net of tax (387) (353) -1.33% -1.30% -0.03%
Treasury common stock (215) (278) -0.74% -1.03% 0.29%
Total equity 4,519 5,614 15.58% 20.73% -5.15%
Total liabilities and equity $ 29,013 $ 27,084 100.00% 100.00% 0.00%
QUESTIONS
1. Evaluate the asset, liability, and equity structure, looking for trends and changes in the common-size balance sheet.
2. What concerns would investors and creditors have based only on this information?
3. What additional financial and non-financial information would investors and creditors need in order to make an investment and lending decisions?

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