Reliant FORM 10-K manual Consolidated Balance Sheets as of December, Assets

NORTEL NETWORKS CORPORATION

Consolidated Balance Sheets as of December 31

(millions of U.S. dollars)		2003		2002
			As restated *
ASSETS
Current assets
Cash and cash equivalents	$	3,997	$	3,790
Restricted cash and cash equivalents		63		249
Accounts receivable — net		2,505		2,228
Inventories — net		1,190		1,506
Income taxes recoverable		90		114
Deferred income taxes — net		369		790
Other current assets		315		650
Total current assets		8,529		9,327
Investments		244		237
Plant and equipment — net		1,656		1,692
Goodwill		2,305		2,199
Intangible assets — net		86		139
Deferred income taxes — net		3,397		2,582
Other assets		374		785
Total assets	$	16,591	$	16,961
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Notes payable	$	17	$	30
Trade and other accounts payable		861		803
Payroll and benefit-related liabilities		764		485
Contractual liabilities		530		894
Restructuring		206		507
Other accrued liabilities		2,505		3,257
Long-term debt due within one year		119		243
Total current liabilities		5,002		6,219
Long-term debt		3,891		3,960
Deferred income taxes — net		191		337
Other liabilities		2,945		2,761
Total liabilities		12,029		13,277
Minority interests in subsidiary companies		617		631
Commitments and contingencies (notes 14 and 22)
SHAREHOLDERS’ EQUITY
Common shares, without par value — Authorized shares: unlimited;
Issued and outstanding shares: 4,166,714,475 for 2003 and 3,844,171,700 for 2002		33,674		33,234
Additional paid-in capital		3,341		3,753
Deferred stock option compensation		–		(17)
Accumulated deficit		(32,532)		(32,966)
Accumulated other comprehensive loss		(538)		(951)
Total shareholders’ equity		3,945		3,053
Total liabilities and shareholders’ equity	$	16,591	$	16,961

* See note 3

The accompanying notes are an integral part of these consolidated financial statements.

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