Consolidated Balance Sheet

Consolidated Balance Sheet
In millions of U.S. dollars

Assets	Note	12.31.2010	12.31.2009	01.01.2009
Current
Cash and cash equivalents	7	1,393.1	1,592.4	1,820.7
Financial assets	8	733.5	953.8	380.8
Trade accounts receivable, net	9	348.6	406.9	448.8
Derivative financial instruments	39	6.8	12.7	29.9
Customer and commercial financing	10	20.4	11.2	8.6
Collateralized accounts receivable	11	11.6	12.0	11.5
Inventories	12	2,193.4	2,438.5	2,930.1
Other assets	13	275.4	215.2	240.1
		4,982.8	5,642.7	5,870.5

Non current
Trade accounts receivable	9	0.7	0.5	5.9
Derivative financial instruments	39	15.5	11.9	-
Financial assets	8	52.1	24.9	68.3
Customer and commercial financing	10	50.1	41.5	113.2
Collateralized accounts receivable	11	526.6	474.0	467.1
Inventories	12	4.9	6.5	8.0
Other assets	13	237.1	183.4	164.6
Guarantee deposits	14	464.8	505.6	493.2
Deferred income tax	36	139.1	171.7	10.9
Property, plant and equipment	16	1,201.0	1,101.3	1,059.6
Intangible assets	17	716.3	725.5	689.9
		3,408.2	3,246.8	3,080.7

*Total assets*		8,391.0	8,889.5	8,951.2

Liabilittes	Note	12.31.2010	12.31.2009	01.01.2009
Current
Trade accounts payable	20	750.2	596.3	1,072.4
Loans and financing	19	72.6	592.4	539.0
Non recourse and recourse debt	11	111.8	135.9	137.7
Other payables	21	84.4	108.1	70.0
Contribution from suppliers	22	0.9	0.9	2.5
Advances from customers	23	779.4	762.8	1,137.7
Derivative financial instruments	39	0.8	0.5	166.5
Taxes and payroll charges payable	24	79.5	64.9	57.5
Income tax and social contribution	24	10.0	13.6	5.8
Other provisions	25	309.6	233.5	213.3
Provisions for contingencies	26	7.5	10.5	9.5
Dividends	28	49.4	119.6	0.9
Unearned income		132.6	111.6	113.1
		2,388.7	2,750.6	3,525.9

Non Current
Loans and financing	19	1,362.2	1,465.9	1,300.8
Non recourse and recourse debt	11	358.5	371.6	366.9
Other payables	21	27.6	25.0	22.1
Contribution from suppliers	22	16.8	67.7	44.3
Advances from customers	23	212.2	398.1	449.2
Derivative financial instruments	39	1.4	4.1	-
Taxes and payroll charges payable	24	453.3	427.0	343.6
Deferred income tax and social contribution	36	11.4	16.2	36.5
Financial guarantee	38	219.5	257.1	173.0
Other provisions	25	49.7	82.6	73.6
Provisions for contingencies	26	69.3	50.3	39.9
Unearned income		88.9	90.3	49.8
		2,870.8	3,255.9	2,899.7
*Total liabilities*		5,259.5	6,006.5	6,425.6

Shareholders' equity	28
Capital		1,438.0	1,438.0	1,438.0
Treasury shares		(183.7)	(183.7)	(183.7)
Revenue reserves		1,759.8	1,607.4	1,287.8
Share-based remuneration		3.4	-	-
Cumulative translation adjustments		10.9	17.1	13.7
Retained earnings		-	(86.1)	(100.2)
		3,028.4	2,792.7	2,455.6
Noncontrolling interest		103.1	90.3	70.0
Total shareholders' equity		3,131.5	2,883.0	2,525.6

Total liabilities and shareholders’ equity		8,391.0	8,889.5	8,951.2

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