partnering for the future Summarized unaudited combined financial information reported for all equity method affiliates and a summary of the amounts recorded in Bunge’s consolidated financial statements as of December 31, 2004 and 2003 follows: Effective January 1, 2002, Bunge adopted the provisions of SFAS No.143,  Accounting for Asset Retirement Obligations (SFAS No. 143). As a result of the adoption, Bunge recorded a $9 million charge, net of tax of $5 million, as a cumulative effect of a change in accounting principle relating to its mining assets assigned to the fertilizer segment and certain of its edible oil refining facilities assigned to the edible oil segment. Asset retirement obligations in Bunge’s fertilizer segment relate to restoration of land used in its mining operations and asset retirement obligations in its edi- ble oil products segment relate to the removal of certain storage tanks associated with its edible oil refining facilities. The carrying amount of the asset retirement obligation was  $30 million and $25 million at December 31, 2004 and 2003, respectively. The change related to $2 million of accretion and $3 million of currency translation adjustment. Bunge has elected to use the U.S. income tax rates to reconcile the actual provision for income taxes with the income tax pro- vision computed by applying the U.S. statutory rates. The components of pretax income (loss) before minority interest and discontinued operations are as follows: The components of the income tax (expense) benefit are: 67 13. asset retirement obligations 14. income taxes 12. other current liabilities Other current liabilities consist of the following: Straight-line amortization of this excess against equity income amounted to  $4 million and $3 million in 2004 and 2003, respectively. Amortization of  the excess has been attributed to intangible assets of Solae, which are being amortized over five years.  (1) At December 31, 2004 and 2003, Bunge’s investment exceeded its underlying equity in the net assets of Solae by $12 million and $16 million, respectively. (US$ in millions) 2004 2003 Amounts recorded by Bunge: Investments (1) $ 5 56 64 4 $ 537 Equity income 1 12 2 16 Combined results of operations: Revenues $ $2 2,,6 60 00 0 $2,070 Income before income tax and  minority interest 4 42 2 60 Net income 3 39 9 58 Combined financial position:  Current assets $ 9 93 34 4 $ 767 Non-current assets 2 2,,1 17 77 7 2,050 Total assets $ $3 3,,1 11 1 $2,817 Current liabilities $ 5 58 82 2 $ 472 Non-current liabilities 6 68 82 2 569 Stockholders’ equity 1 1,,8 84 47 7 1,776 Total liabilities and stockholders’ equity $ $3 3,,1 11 1 $2,817 December 31, (US$ in millions) 2004 2003 Accrued liabilities $ 7 72 29 9 $ 608 Unrealized loss on derivative contracts 2 24 42 2 336 Advances on sales 1 15 58 8 146 Other 1 15 56 6 110 Total $ $1 1,,2 28 85 5 $1,200 Year Ended December 31, (US$ in millions) 2004 2003 2002 United States $ ((4 44 4)) $ (23) $ 45 Non-United States 9 94 48 8 746 436 Total $ 9 90 04 4 $ 723 $ 481 Year Ended December 31, (US$ in millions) 2004 2003 2002 Current:  United States $ ((6 6)) $ (7) $ 13 Non-United States ((3 33 39 9)) (211) (121) ((3 34 45 5)) (218) (108) Deferred:  United States 2 23 3 20 1 Non-United States 3 33 (3) 3 5 56 6 17 4 Total $ $ ((2 28 89 9)) $ (201) $ (104)