Reliant FORM 10-K manual Other liabilities, Minority interests in subsidiary companies

Other liabilities:

		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

Minority interests in subsidiary companies:

		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
Other		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.

Consolidated statements of cash flows

Change in operating assets and liabilities:

		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 operating assets and liabilities		451		286		1,498
Change in operating assets and liabilities	$	(153)	$	815	$	7,183

Cash and cash equivalents at end of year:

		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

Acquisitions of investments and businesses — net of cash acquired:

		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 acquired		12		–		10
Non-cash consideration paid other than common share options and contingent consideration		105		–		2,291
Acquisitions of investments and businesses — net of cash acquired	$	(58)	$	(29)	$	(79)

Interest and taxes paid (recovered):

F-39