partnering for the future consolidated balance sheets December 31, (U.S. dollars in millions, except share data) 2004 2003 assets Current assets:  Cash and cash equivalents $ 4 43 32 2 $ 489 Trade accounts receivable (less allowance of $133 and $100) (Note 18) 1 1,,9 92 28 8 1,495 Inventories (Note 4) 2 2,,6 63 36 6 2,867 Deferred income taxes 9 95 5 93 Other current assets (Note 5) 1 1,,5 57 77 7 1,474 Total current assets 6 6,,6 66 68 8 6,418 Property, plant and equipment, net (Note 6) 2 2,,5 53 36 6 2,090 Goodwill (Note 8) 1 16 67 7 148 Other intangible assets, net (Note 9) 1 15 56 6 92 Investments in affiliates (Note 11) 5 56 64 4 537 Deferred income taxes 2 27 73 3 233 Other non-current assets 5 54 43 3 366 Total assets $ $ 1 10 0,,9 90 07 7 $ 9,884 Current liabilities:  Short-term debt (Note 16) $ 5 54 41 1 $ 889 Current portion of long-term debt (Note 17) 1 14 40 0 128 Trade accounts payable 1 1,,8 89 98 8 1,678 Deferred income taxes 3 38 8 42 Other current liabilities (Note 12) 1 1,,2 28 85 5 1,200 Total current liabilities 3 3,,9 90 02 2 3,937 Long-term debt (Note 17) 2 2,,6 60 00 0 2,377 Deferred income taxes 2 23 32 2 206 Other non-current liabilities 5 51 18 8 433 Commitments and contingencies (Note 21) Minority interest in subsidiaries 2 28 80 0 554 Shareholders’ equity:  Common shares, par value $.01; authorized—240,000,000 shares; issued and outstanding: 2004—110,671,450 shares, 2003—99,908,318 shares 1 1 Additional paid-in capital 2 2,,3 36 61 1 2,010 Retained earnings 1 1,,4 44 40 0 1,022 Accumulated other comprehensive loss ((4 42 27 7)) (656) Total shareholders’ equity 3 3,,3 37 75 5 2,377 Total liabilities and shareholders’ equity $ $ 1 10 0,,9 90 07 7 $ 9,884 The accompanying notes are an integral part of these consolidated financial statements. liabilities and shareholders’ equity 53