Invested Capital

Invested capital = Operating assets – Operating current liabilities

* Short-term investments * Short-term debt

Cash and cash equivalents
Accounts receivables
Inventory
Prepaid expense
Operating working capital = Other current assets
Current assets
Net property, plant and equipment
Goodwill
+ Intangible assets
Other long-term assets
= Operating invested capital * Equity investments
Total non-current assets
Total assets
* denotes non-operating
Accounts payable
Minus Accrued liabilities
Other current liabilities
Current liabilities
Long-term debt
** Net deferred taxes liabilities
Pensions and other benefits
Minority interest
Other long-term liabilities
Total non-current liabilities
Total liabilities
Common stock
Additional paid-in capital
Retained earnings
Accum. comprehensive income
Total stockholders' equity
Total liabilities and stockholders'
equity

DTA = Deferred taxes-Assets

DTL = Deferred taxes-Liabilities
** Net deferred taxes liabilities = Short-term DTL + Long-term DTL
 Short-term DTA  Long-term DTA

Total funds invested = Operating invested capital + Short-term investments

+ Equity investments

Reconciliation:

Interest-bearing debts = Short-term debt + Long-term debt + Pensions and

other benefits + Other long-term liabilities + Any
short-term and long-term leases

Total funds invested = Interest-bearing debts + Net deferred taxes liabilities

+ Long-term deferred revenue + Minority interests
+ Common stock/paid in capital + Retained earnings
+ Treasury stock + Accum. Comprehensive income