Mercedes 2003 Annual Report Download - page 158
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Please find page 158 of the 2003 Mercedes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Financial Reporting | Overview | Analysis of the Financial Situation | Statement by the Board of Management | Independent Auditors’ Report | Financial Statements
DaimlerChrysler Corporation (“DCC”) maintains a Trade Payables
Agreement with General Electric Capital Corporation (“GECC”) to
provide financial flexibility to DCC and its suppliers. GECC pays
participating suppliers on accelerated payment terms in exchange
for a discount on the invoiced amount. DCC then pays GECC under
the terms of the original invoice from the supplier. To the extent
GECC can realize favorable economics from the transactions, they
are shared with DCC. The outstanding balance due GECC at
December 31, 2003 and 2002 was €416 million and €171 million,
respectively, shown within other short term financial liabilities in
the table above.
Aggregate nominal amounts of financial liabilities maturing during
the next five years and thereafter are as follows:
27. Trade Liabilities
28. Other Liabilities
As of December 31, 2003, other liabilities include tax liabilities of
€682 million (2002: €827 million) and social benefits due of €756
million (2002: €782 million).
29. Deferred Income
As of December 31, 2003, €1,836 million of the total deferred
income is to be recognized after more than one year (2002: €1,989
million).
At December 31, 2003, the Group had unused short-term credit
lines of €10,700 million (2002: €11,026 million) and unused long-
term credit lines of €10,441 million (2002: €10,597 million). The
credit lines include an $18 billion revolving credit facility with a
syndicate of international banks. The credit agreement is com-
prised of a multi-currency revolving credit facility which allows
DaimlerChrysler AG and several subsidiaries to borrow up to $5 bil-
lion until 2006, an U.S. dollar revolving credit facility which allows
DaimlerChrysler North America Holding Corporation, a wholly-
owned subsidiary of DaimlerChrysler AG, to borrow up to $6 billion
available until 2004, and a multi-currency revolving credit facility
for working capital purposes which allows DaimlerChrysler AG and
several subsidiaries to borrow up to $7 billion until 2008. A part of
the $18 billion facility serves as a back-up for commercial paper
drawings.
(in millions of €)
2004
14,551 3,624 12,831
2005 2006 2007 2008
there-
after
(in millions of €)
Due after
five years
Due after
one yearTotal
Due after
five years
Due after
one yearTotal
At December 31, 2003 At December 31, 2002
11,583 12,171– 1 1 1Trade liabilities
10
–
699
709
316
131
8,358
8,805
–
–
315
315
338
161
8,344
8,843
–
3
708
711
–
–
151
151
(in millions of €)
Due after
five years
Due after
one yearTotal
Due after
five years
Due after
one yearTotal
At December 31, 2003 At December 31, 2002
Liabilities to affiliated companies
Liabilities to related companies
Other liabilities
27,949 11,116 4,581Financial liabilities