Michelin couv courteGB
Michelin couv courteGB
Michelin couv courteGB
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Strategy • Fundamentals • Businesses • Résultats Earnings<br />
Consolidated Balance Sheet<br />
Equity and liabilities (In € thousand)<br />
Shareholders’ equity<br />
2004 2003<br />
French Gaap<br />
Common stock (1) 286,774 286,774<br />
Paid-in capital in excess of par (1) 1,839,640 1,839,640<br />
Retained earnings (2) 2,475,491 2,200,946<br />
4,601,905 4,327,360<br />
Minority interests 74,690 81,703<br />
Shareholders’ equity including minority interests 4,676,595 4,409,063<br />
Provisions for contingencies and charges 2,988,721 3,006,360<br />
Liabilities<br />
Subordinated debt 500,000 500,000<br />
Long and short-term debt 4,378,723 4,713,518<br />
Trade payables 1,598,724 1,552,745<br />
Other payables, deferred income and accrued expenses 2,027,786 1,985,217<br />
8,505,233 8,751,480<br />
Total liabilities and Shareholders’ equity 16,170,549 16,166,903<br />
1) Parent Company<br />
2) Including net income for the year 515,138 317,532<br />
66•67
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