1995 ANNUAL REPORT
SGS-THOMSON Microelectronics N.V.
Consolidated Balance Sheets
| As at December 31, | ||||
| (Currency--thousands of U.S. dollars) | 1993 | 1994 | 1995 | |
| Assets | ||||
| Current assets | ||||
| Cash and cash equivalents (Note 4) | 263,536 | 457,234 | 754,046 | |
| Marketable debt securities (Note 4) | 63,910 | 4,249 | 4,354 | |
| Trade accounts and notes receivable (Note 5) | 350,615 | 449,855 | 595,419 | |
| Inventories, net (Note 6) | 283,514 | 343,037 | 450,649 | |
| Other receivables and assets (Note 7) | 269,514 | 320,685 | 360,262 | |
| Total current assets | 1,231,089 | 1,575,060 | 2,164,730 | |
| Fixed assets | ||||
| Goodwill, net (Note 8) | 3,189 | 1,752 | 315 | |
| Other intangible assets, net (Note 9) | 9,965 | 15,480 | 13,071 | |
| Property, plant and equipment (Note 10) | 2,185,778 | 3,125,079 | 4,180,495 | |
| Less--Accumulated depreciation (Note 10) | (1,205,628) | (1,503,739) | (1,880,993) | |
| Investments and other non-current assets (Note 11) | 16,535 | 11,059 | 8,388 | |
| Total fixed assets, net | 1,009,839 | 1,649,631 | 2,321,276 | |
| Total assets | 2,240,928 | 3,224,691 | 4,486,006 | |
| Liabilities and shareholders' equity | ||||
| Current liabilities | ||||
| Bank overdrafts and current portion of long-term debt (Note 15) | 231,056 | 322,456 | 492,788 | |
| Trade accounts and notes payable | 285,619 | 470,894 | 507,889 | |
| Other debts and accrued liabilities (Note 16) | 221,361 | 280,144 | 342,738 | |
| Accrued and deferred income tax | 6,626 | 71,469 | 138,256 | |
| Total current liabilities | 744,662 | 1,144,963 | 1,481,671 | |
| Long-term debt (Note 15) | 374,845 | 277,219 | 200,660 | |
| Reserves for pension and termination indemnities (Note 13) | 67,906 | 81,992 | 94,956 | |
| Other non-current liabilities (Note 14) | 49,504 | 40,478 | 37,462 | |
| Total liabilities | 492,255 | 399,689 | 333,078 | |
| Minority interests | -- | -- | 9,542 | |
| Capital stock (1995: 138,208,680 shares; 1994: 128,603,880 shares; 1993: 118,997,640 shares) (Note 12) | 906,451 | 981,500 | 1,066,528 | |
| Capital surplus | 484,009 | 625,906 | 922,065 | |
| Accumulated result | (304,778) | 57,716 | 584,039 | |
| Translation adjustments | (81,671) | 14,917 | 89,083 | |
| Shareholders' equity | 1,004,011 | 1,680,039 | 2,661,715 | |
| Total liabilities and shareholders' equity | 2,240,928 | 3,224,691 | 4,486,006 | |
For commitments and contingencies: Note 26
The accompanying notes are an integral part of these balance sheets.
