Louis Vuitton 2003 Annual Report Download - page 89

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LIABILITIES AND STOCKHOLDERS’ EQUITY (EUR millions) 2003 2002 2001
CURRENT LIABILITIES
Short-term borrowings 1,245 2,304 3,765
Accounts payable 1,639 1,429 1,401
Accrued expenses and other current liabilities 2,302 2,533 2,622
I ncome taxes 61 61 -
Current portion of long-term debt 871 274 238
TOTAL 6,118 6,601 8,026
DEFERRED I NCOME TAXES - NET 158 125 169
LONG-TERM LIABILITIES
Long-term debt, less current portion 4,207 4,554 5,402
Other long-term liabilities 1,133 1,073 1,250
Repackaged notes 158 222 284
TOTAL 5,498 5,849 6,936
MINORITY INTERESTS IN SUBSIDIARIES 1,735 1,772 1,800
STOCKHOLDERS' EQUITY
Common stock 147 147 147
Additional paid-in capital 1,736 1,736 1,736
Cumulative translation adjustment (623) (222) (140)
Retained earnings 5,774 5,409 5,158
TOTAL 7,034 7,070 6,901
TOTAL 20,543 21,417 23,832
87
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