guarantees for financial instruments and as deposits with customs officials. The decrease resulted primarily from the settlement of the forw a rd f o reign exchange contracts using restricted cash and a release of restricted cash resulting from the posting of a surety bond with the Hungarian banking institution that supplies cash to the Company’s ATM network in Hungary.  Trade Accounts Trade accounts receivable increased to $9.5 million at December 31, 2000 from $7.9 million at December 31, 1999 due primarily to sales from the Software Solutions Segment and increased Network Services Segment revenues.  P r o p e r t y, Plant and Equipment Net pro p e rt y, plant and equipment decreased to $31.7 million at December 31, 2000 from $36.7 million at December 31, 1999. This decrease is due primarily to a reduction in the rate of installation of ATMs and fixed asset additions. Fixed asset d e p reciation was in excess of fixed asset additions, and the write-off of $800,000 in ATM hard w a re further reduced the net fixed asset position.  Intangible Assets The decrease in net intangible assets to $2.6 million at December 31, 2000 from $16.3 million at December 31, 1999 is due primarily to the $11.2 million write-down of goodwill and other identifiable intangible assets associated with the Software Solutions Segment (see Note 9 to the Consolidated Financial Statements – Intangibles). In addition, the decrease is the result of amortization of purchased intangibles a c q u i red in the Euronet USA acquisition in 1998, and the SBK and Dash acquisitions in 1999.  Current Liabilities C u rrent liabilities decreased to $20.5 million at December 31, 2000 from $26.9 million at December 31, 1999. This decre a s e is due primarily to decreases in accrued expenses, billings in excess of costs and estimated earnings on software installation costs and settlement of the forw a rd foreign exchange contracts.  Capital Lease Total capital lease obligations including current installments increased to $11.5 million at December 31, 2000 from $10.6 million at December 31, 1999. This increase is due primarily to additional capital leases resulting from the Company's purchase of Budapest Bank’s AT M network, consisting of 147 ATMs on May 1, 2000.  Notes Payable Notes payable increased to $77.2 million at December 31, 2000 from $72.8 million at December 31, 1999. This is the result of several transactions as follows:  (in millions) Balance at December 31, 1999 $ 7 2 . 8. U n realized foreign exchange gain (DEM vs. US$)  (4.4)  A c c retion of bond intere s t 8 . 8. Balance at December 31, 2000 $ 7 7 . 2. S t o c k h o l d e r’s Deficit Stockholders’ deficit increased to $44.8 million at December 31, 2000 from $9.5 million at December 31, 1999. This is due to the net loss for the year ended December 31, 2000 of $49.6 million which was offset by an increase in additional paid in capital of $14.4 million due to the sale of 1,882,723 shares of common stock for proceeds of $13.0 million, the issue of $400,000 of warrants and the exercise of 390,231 stock options for proceeds of $900,000. Year 2000 Compliance Impact of New Accounting Pronouncements Not Yet Adopted The Company’s European and U.S. Year 2000 compliance teams re p o rted no material Year 2000 problems during the advent of the year 2000, either with Euro n e t ’s own systems or the systems of its customers. The Company is unaware of any material Year 2000 complications to date.  S FAS 133 The Company is re q u i red to adopt Statement of Financial Accounting Standard (SFAS) No. 133 “Accounting for Derivative I n s t ruments and Hedging Activities” as amended by SFAS No. 138 for US GAAP re p o rting as of 1 January 2001. SFAS 133 and 138 establish accounting and re p o rting standards for derivative instruments, including certain derivative instruments embedded in other contracts (collectively re f e rred to as derivatives).  In accordance with SFAS No. 133, entities are re q u i red to carry all derivative instruments on the balance sheet at fair value. The accounting for movements in fair value of derivatives depends upon whether it has been designated and qualifies as part of a hedging relationship and, if so, the reason for holding it. If certain conditions are met, the Company may elect to designate a derivative instrument as a hedge of exposures. If the hedged exposure is a fair value exposure, movements in fair value are recognized in earnings with the offsetting gain or loss on the hedged item attributable to the hedged risk. If the hedged exposure is a cash flow exposure, the effective portion of the movement in fair value of the derivative i n s t rument is initially re p o rted as a component of other comprehensive income and subsequently reclassified into earnings at the time the f o recasted transaction impacts earnings. Amounts excluded from the assessment of hedge effectiveness as well as the ineffective portion of movements in fair value of the derivative instrument are re p o rted in earnings in the current period. Accounting for foreign currency hedges is similar to the accounting for fair value and cash flow hedges. If a derivative instrument is not designated as a hedge, movements in the fair value of derivative instruments are recognized in earnings.  Under the provisions of SFAS No. 133, the method that the Company will use to assess effectiveness of a hedge, as well as the measure m e n t a p p roach for determining the ineffectiveness of a hedge, must be established at the inception of a hedge. The Company formally documents all relationships between hedging instruments and hedged items as well as its risk management objective and strategy for entering into the transaction. This process includes linking derivatives designated as fair value or cash flow hedges to specific assets, liabilities or firm commitments on forecasted transactions. This process is repeated on a periodic basis. If at any time the Company determines a hedge is no longer eff e c t i v e , hedge accounting is immediately discontinued and the derivative is marked to market with any gain or loss re c o rded in earnings.  The Company adopted the provisions of SFAS No. 133 on 1 January 2001 and this had no impact on the Company’s consolidated financial statements as the Company does not have any derivative financial instruments. Future changes in the fair value for any remaining trading securities will be re c o rded through earnings. Changes in fair value of available for sale securities will be re c o rded in other comprehensive income.  2 1