Consolidated Balance Sheets FUJI HEAVY INDUSTRIES LTD. AND CONSOLIDATED SUBSIDIARIES As of March 31, 2003 and 2002 Thousands of  Millions Millions U.S. dollars of yen of yen (Note 1) ASSETS 2003 2002 2003 Current assets:  (Note 3) Cash and time deposits (Note 5) ¥ 69,781 ¥ 56,466 $ 580,541 Marketable securities (Notes 5 and 6) 94,636 116,461 787,321 Notes and accounts receivable, trade (Notes 4 and 10) 128,523 133,688 1,069,243 Allowance for doubtful accounts (486) (571) (4,043) Inventories (Note 7) 198,656 192,548 1,652,712 Short-term loans (Note 5) 98,177 71,677 816,780 Deferred tax assets (Note 13) 40,340 34,278 335,607 Other current assets (Note 10) 40,522 32,322 337,122 Total current assets 670,149 636,869 5,575,283 Property, plant and equipment (Notes 3, 8, 9 and 10) 1,102,849 1,061,179 9,175,116 Less accumulated depreciation (606,307) (579,422) (5,044,151) Net property, plant and equipment 496,542 481,757 4,130,965 Investments and other assets: (Note 3) Investment securities (Notes 6 and 10) 41,505 48,275 345,300 Investments in non-consolidated subsidiaries and affiliates 6,139 6,536 51,073 Long-term loans  4,829 8,351 40,175 Goodwill 20,158 22,249 167,704 Intangibles, net 18,015 15,284 149,875 Deferred tax assets (Note 13) 33,466 31,790 278,419 Other assets (Notes 3 and 10) 56,990 22,256 474,126 Allowance for doubtful accounts (3,721) (3,809) (30,957) 177,381 150,932 1,475,715 Total assets ¥1,344,072 ¥1,269,558 $11,181,963 26 FUJI HEAVY INDUSTRIES LTD.