| | CONSOLIDATED BALANCE SHEETS | (Dollars in Millions) | | March 31, | | December 31, | | | | 2002 | | 2001 | | ASSETS | | (Unaudited) | | | |
| | Current Assets | | | | | | Cash and cash equivalents | | $1,113.8 | | $700.1 | | Accounts and notes receivable | | 1,217.4 | | 1,090.5 | | Contracts in process | | 103.6 | | 153.1 | | Inventories | | 351.3 | | 360.1 | | Deferred income taxes | | 110.9 | | 118.9 | | Prepaid expenses and other | | 1,093.2 | | 918.4 |
| | | | | | | | Total Current Assets | | 3,990.2 | | 3,341.1 | | Satellites, net | | 4,737.2 | | 4,806.6 | | Property, net | | 2,200.7 | | 2,197.8 | | Net Investment in Sales-type Leases | | 183.6 | | 227.0 | | Intangible Assets, net | | 7,181.0 | | 7,156.8 | | Investments and Other Assets | | 1,447.4 | | 1,480.8 |
| | | | | | | | Total Assets | | $19,740.1 | | $19,210.1 |
| | | | | | | | LIABILITIES AND STOCKHOLDER'S EQUITY | | | | |
| | Current Liabilities | | | | | | Accounts payable | | $1,250.4 | | $1,227.5 | | Deferred revenues | | 202.2 | | 178.5 | | Short-term borrowings and current portion of long-term debt | | 981.0 | | 1,658.5 | | Accrued liabilities and other | | 1,368.6 | | 1,342.0 |
| | | | | | | | Total Current Liabilities | | 3,802.2 | | 4,406.5 | | Long-Term Debt | | 2,406.4 | | 988.8 | | Other Liabilities and Deferred Credits | | 1,354.5 | | 1,465.1 | | Deferred Income Taxes | | 764.1 | | 746.5 | | Commitments and Contingencies | | | | | | Minority Interests | | 538.8 | | 531.3 | | Stockholder's Equity | | 10,874.1 | | 11,071.9 |
| | | | | | | | Total Liabilities and Stockholder's Equity | | $19,740.1 | | $19,210.1 |
| | | | | | | Holders of GM Class H common stock have no direct rights in the equity or assets of Hughes, but rather have rights in the equity and assets of General Motors (which includes 100% of the stock of Hughes). |
