page 135 Bombardier Inc. Annual Report 2003-04 Consolidated balance sheets AS AT JANUARY 31 (MILLIONS OF CANADIAN DOLLARS) 2004 2003 2002 2001 2000 BOMBARDIER INC. CONSOLIDATED Cash and cash equivalents $1 , 619 $1 , 014 $ 440 $ 1,366 $ 1,681 Receivables 2,438 2,259 1,845 816 626 Finance receivables 4,148 7,013 6,399 7,141 6,251 Assets under operating leases 740 1,358 1,840 1,793 905 Inventories 5,756 5,264 5,624 3,797 3,029 Property, plant and equipment 4,674 5,386 5,190 4,271 3,771 Goodwill 3,038 3,245 2,713 – – Deferred income taxes 699 915 906 182 – Accrued benefit asset 498 265 243 147 20 Assets held for sale – 1,260 1,102 568 480 Other assets 1,959 1,145 941 402 282 Total assets $ 25,569 $29,124 $27,243 $20,483 $17,045 Short-term borrowings $ 308 $2 , 5 6 4 $3 ,037 $ 2,531 $ 2,003 Accounts payable and accrued liabilities 9,000 8,906 7,412 3,966 3,264 Advances and progress billings in excess of related costs 3,563 3,816 3,291 2,827 2,849 Deferred income taxes 138 186 636 672 477 Long-term debt 8,074 8,926 7,852 6,122 4,773 Accrued benefit liability 1,236 1,151 994 439 – Liabilities related to assets held for sale – 834 685 513 330 Preferred shares 535 535 300 300 300 Common shareholders’ equity  2,715 2,206 3,036 3,113 3,049 Total liabilities and shareholders’ equity $ 25,569 $29,124 $27,243 $20,483 $17,045 BOMBARDIER Cash and cash equivalents $1 , 605 $ 713 $ 440 $ 1,351 $ 1,566 Receivables 2,246 2,093 1,534 591 555 Assets under operating leases 114 7 9 25 18 Inventories 5,756 5,264 5,624 3,797 3,029 Property, plant and equipment 4,555 5,239 5,027 4,138 3,649 Goodwill 3,038 3,245 2,713 – – Deferred income taxes 455 632 580 110 –  Investment in and advances to BC 1,142 1,287 1,363 1,582 1,531 Accrued benefit asset 498 265 243 147 20 Assets held for sale – 1,260 1,102 568 480 Other assets 998 758 706 192 155 Total assets $ 20,407 $20,763 $19,341 $12,501 $11,003 Short-term borrowings $ – $ 381 $ 1,342 $ – $ – Advances from BC 179 69 – – – Accounts payable and accrued liabilities 8,668 8,494 6,990 3,769 3,055 Advances and progress billings in excess of related costs 3,563 3,816 3,291 2,827 2,849 Deferred income taxes 133 182 631 672 471 Long-term debt 2,781 3,099 2,075 870 949 Accrued benefit liability 1,236 1,147 991 437 – Liabilities related to assets held for sale – 834 685 513 330 Subordinated loans from BC 597 – – – – Preferred shares 535 535 300 300 300 Common shareholders’ equity 2,715 2,206 3,036 3,113 3,049 Total liabilities and shareholders’ equity $ 20,407 $20,763 $19,341 $12,501 $11,003 BC Cash and cash equivalents $ 14 $ 301 $ – $ 15 $ 115 Receivables 192 166 311 225 71 Finance receivables 4,148 7,013 6,399 7,141 6,251 Assets under operating leases 626 1,351 1,831 1,768 887 Property, plant and equipment 119 147 163 133 122 Deferred income taxes 244 283 326 72 – Advances and subordinated loans to Bombardier 776 69 – – – Other assets 961 387 235 210 127 Total assets $7 , 080 $9 , 7 1 $9 ,265 $ 9,564 $ 7,573 Short-term borrowings $ 308 $2 , 1 8 3 $1 ,695 $ 2,531 $ 2,003 Advances from Bombardier  – – 20 206 460 Accounts payable and accrued liabilities 332 412 422 197 209 Deferred income taxes 5 4 5 – 6 Long-term debt 5,293 5,827 5,777 5,252 3,824 Accrued benefit liability – 4 3 2 – Investment in BC  1,142 1,287 1,343 1,376 1,071 Total liabilities and shareholder’s equity $7 , 080 $9 ,717 $ 9,265 $ 9,564 $ 7,573 