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F-39
Other liabilities:
M
inority interests in subsidiary companies:
Consolidated statements of cash flows
Change in operating assets and liabilities:
Cash and cash equivalents at end of year:
A
cquisitions of investments and businesses — net of cash acquired:
I
nterest and taxes
p
aid (recovered):
2003 2002
Pension, post-employment and post-retirement benefit liabilities $ 1,973 $ 1,645
Long-term provisions 972 1,116
Other liabilities $ 2,945 $ 2,761
2003 2002
Preferred shares of principal operating subsidiary
(a)
Series 5, issued November 26, 1996 for consideration of Canadian $400
(b)
$294 $294
Series 7, issued November 28, 1997 for consideration of Canadian $350
(c)
242 242
Othe
r
81 95
Minority interests in subsidiary companies $ 617 $ 631
(a) NNL is authorized to issue an unlimited number of Class A and Class B preferred shares.
(b) As of December 31, 2003 and 2002, 16 million of Class A Series 5 preferred shares were outstanding. As of December 1, 2001, holders of Series 5 preferred shares
are entitled to, if declared, a monthly floating cumulative preferential cash dividend based on Canadian prime rates.
(c) As of December 31, 2003 and 2002, 14 million of Class A Series 7 preferred shares were outstanding. As of December 1, 2002, holders of the Series 7 preferred
shares are entitled to, if declared, a monthly floating non-cumulative preferential cash dividend based on Canadian prime rates.
2003 2002 2001
Restricted cash and cash equivalents $ 200 $ (231) $ –
Accounts receivable (231) 938 5,564
Inventories 429 984 2,757
Income taxes 18 1,256 (959)
Restructuring (558) (1,094) (1,121)
Accounts payable and accrued liabilities (462) (1,324) (556)
Other o
p
eratin
g
assets and liabilities 451 286 1,498
Change in operating assets and liabilities $ (153) $ 815 $ 7,183
2003 2002 2001
Cash on hand and balances with banks $ 756 $ 934 $ 1,312
Short-term investments 3,241 2,856 2,162
Cash and cash equivalents at end of year $ 3,997 $ 3,790 $ 3,474
2003 2002 2001
Cash acquired $ (12) $ – $ (10)
Total net assets acquired other than cash (163) (29) (2,370)
Total purchase price (175) (29) (2,380)
Less:
Cash ac
q
uire
d
12
–
10
Non-cash consideration paid other than common share options and contingent consideration 105 – 2,291
Ac
q
uisitions of investments and businesses — net of cash ac
q
uired $ (58) $ (29) $ (79)