26 Dialog Semiconductor Plc | Annual report and accounts 2012 |  Section 2 | Business review Financial review continued Statement of financial position At 31 December At 31 December  2012 2011 Change  US$000 US$000 US$000 % Assets Cash and cash equivalents and restricted cash  312,435 113,590 198,845 175.1 All other current assets  251,067 117,685 133,382 113.3 Total current assets 563,502 231,275 332,227 143.7 Property, plant and equipment, net 50,318 28,404 21,914 77.2 Goodwill 32,283 32,283 – – Intangible assets 51,789 38,361 13,428 35.0 All other non-current assets  1,335 1,684 (349) (20.7) Deferred tax assets  8,913 17,382 (8,469) (48.7) Total non-current assets 144,638 118,114 26,524 22.5 Total assets 708,140 349,389 358,751 102.7 Liabilities and Shareholders’ equity Current liabilities 142,650 80,440 62,210 77.3 Non-current liabilities 182,899 4,345 178,554 4,109.4 Net Shareholders’ equity  382,591 264,604 117,987 44.6 Total liabilities and Shareholders’ equity 708,140 349,389 358,751 102.7 Balance sheet total was US$708.1 million at 31 December 2012 (31 December 2011:  US$349.4 million). Cash and cash equivalents  increased by US$198.8 million or 175.1% to US$312.4 million at 31 December 2012 (31 December 2011: US$113.6 million).  This increase was mainly caused by the net cash inflows from operating activities of US$52.4 million from the convertible bond in the amount of US$196.6 million and cash  inflows from the sale of employee stock  purchase plan shares in the amount of US$4.1 million. The cash inflows were partly  offset by cash outflows for investing activities in the amount of US$54.3 million. Other current assets increased from US$117.7 million at 31 December 2011 by US$133.4 million to US$251.1 million at 31 December 2012. The increase of 113.3% is mainly driven by higher inventory balances  (+US$89.8 million) and higher trade receivables  (+US$36.2 million). Total non-current assets increased 22.5% to US$144.6 million; investments into tangible  and intangible assets were US$68.6 million.  These were partly offset by depreciation,  amortisation and impairment charges in the  amount of US$33.3 million. Deferred tax assets  decreased by US$8.5 million due to the usage of net loss carry forwards.  Shareholders’ equity increased from US$264.6 million at 31 December 2011 by US$118.0 million to US$382.6 million at 31 December 2012. US$36.6 million of this increase relates to the convertible bond. US$69.5 million relate to our net profit (adjusted by expenses for share-based  payments). The equity ratio was 54.0% (31 December 2011: 75.7%). Non-current liabilities increased by US$178.6 million. The amount at 31 December  2012 mainly includes US$164.6 million (31 December 2011: nil), which represents the fair value of the convertible bond liability  and US$11.8 million (31 December 2011: nil)  financing costs relating to the new licence  agreement. For further information, please refer to note 12 and note 18 to the consolidated  financial statements respectively.  Current liabilities increased by net US$62.2 million  of which US$55.8 million relate to increased  trade and other payables, which mainly stand in relation to the increased inventory balance. 