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Supplemental Consolidating Balance Sheets as of December 31, 2003:
F-88
Nortel Nortel Non-
Networks Networks Guarantor Guarantor
(millions of U.S. dollars) Corporation Limited Subsidiaries Subsidiaries Eliminations Total
ASSETS
Current assets
Cash and cash equivalents $ 68 $ (8) $ 3,164 $ 773 $ – $ 3,997
Restricted cash and cash equivalents – 25 37 1 – 63
Accounts receivable — net – 314 1,671 520 – 2,505
Intercompany/related party accounts receivable 50 345 1,053 1,099 (2,547) –
Inventories — net – 302 565 323 – 1,190
Income taxes recoverable – 13 52 25 – 90
Deferred income taxes — net – 67 302
–
– 369
Other current assets – 31 178 106 – 315
Total current assets
118 1,089 7,022 2,847 (2,547) 8,529
Investments 5,728 1,995 (7,568) 285 (196) 244
Intercom
p
an
y
advances
–
166 537 1,487 (2,190) –
Plant and equipment — net – 475 817 364 – 1,656
Goodwill – – 1,962 343 – 2,305
Intangible assets — net – 40 1 45 – 86
Deferred income taxes — net – 1,673 1,655 69 – 3,397
Other assets 37 102 60 175 – 374
Total assets
$ 5,883 $ 5,540 $ 4,486 $ 5,615 $ (4,933) $ 16,591
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Notes payable $ – $ 2 $ 3 $ 12 $ – $ 17
Trade and other accounts payable 1 347 406 107 – 861
Intercompany/related party accounts payable 109 (4,071) 3,211 3,298 (2,547) –
Payroll and benefit-related liabilities 2 137 479 146 – 764
Contractual liabilities – 26 309 195 – 530
Restructuring – 52 138 16 – 206
Other accrued liabilities 26 356 1,660 463 – 2,505
Long-term debt due within one year – 11 101 7 – 119
Total current liabilities
138 (3,140) 6,307 4,244 (2,547) 5,002
Long-term debt 1,800 1,549 127 415 – 3,891
Deferred income taxes — net – – 173 18 – 191
Other liabilities – 930 1,811 204 – 2,945
Intercom
p
an
y
advances
–
11 297 1,882 (2,190) –
Total liabilities
1,938 (650) 8,715 6,763 (4,737) 12,029
Minority interests in subsidiary companies – – – 81 536 617
SHAREHOLDERS’ EQUITY
Preferred shares – 536 237 47 (820) –
Common shares 33,674 1,211 6,089 1,560 (8,860) 33,674
Additional paid-in capital 3,341 22,031 1,081 19,342 (42,454) 3,341
Deferred stock option compensation – – – (9) 9 –
Accumulated deficit (32,532) (17,066) (12,661) (22,139) 51,866 (32,532)
Accumulated other comprehensive income (loss) (538) (522) 1,025 (30) (473) (538)
Total shareholders’ equity
3,945 6,190 (4,229) (1,229) (732) 3,945
Total liabilities and shareholders’ equity
$ 5,883 $ 5,540 $ 4,486 $ 5,615 $ (4,933) $ 16,591