ANNUAL REPORT ARCELOR 2003 - paperJam

CONSOLIDATED BALANCE SHEETASSETS 2003 2002In EUR million, as at December 31Non-current assetsIntangible assets (Note 4) (551) (950)Property, plant and equipment (Note 5) 8,947 9,268Investments accounted for using the equity method (Note 6) 1,758 1,780Other investments (Note 7) 307 466Receivables and other financial assets (Note 8) 693 766Deferred tax assets (Note 23) 1,436 1,523TOTAL NON-CURRENT ASSETS 12,590 12,853Current assetsInventories (Note 9) 5,497 6,091Trade receivables (Note 10) 3,253 4,320Other receivables (Note 11) 1,378 1,333Cash and cash equivalents (Note 12) 1,890 1,239TOTAL CURRENT ASSETS 12,018 12,983TOTAL ASSETS 24,608 25,836EQUITY AND LIABILITIES 2003 2002In EUR million, as at December 31Shareholders’ equitySubscribed capital 2,665 2,662Share premium 4,795 4,791Consolidated reserves (419) (484)Translation reserve (308) (237)TOTAL SHAREHOLDERS’ EQUITY (Note 13) 6,733 6,732MINORITY INTERESTS (Note 15) 730 661Non-current liabilitiesInterest-bearing liabilities (Note 16) 4,871 4,594Employee benefits (Note 17) 1,733 1,597Provisions for contract termination indemnities (Note 18) 718 574Other long-term provisions (Note 19) 983 849Deferred tax liabilities (Note 23) 289 359Other liabilities 163 205TOTAL NON-CURRENT LIABILITIES 8,757 8,178Current liabilitiesTrade payables 4,348 4,111Interest-bearing liabilities (Note 16) 1,551 3,821Other amounts payable (Note 20) 2,194 2,023Provisions for contract termination indemnities (Note 18) 82 120Other provisions (Note 19) 213 190TOTAL CURRENT LIABILITIES 8,388 10,265TOTAL SHAREHOLDERS’ EQUITY, MINORITY INTERESTS AND LIABILITIES 24,608 25,836financial information > consolidated financial statementsThe accompanying notes form an integral part of these consolidated financial statements.ANNUAL REPORT ARCELOR 2003 133