20 Cash and cash equivalents
one of the variable certificate investors under the programs was replaced by banks who had in March 2003, committed to
provide the Company with a USD 450 back-up investment commitment to support the variable certificate investment
amounts outstanding at that time. Subsequent to this replacement, USD 220 remains available to the Company under the
back-up investment commitment.
During fiscal 2002, the above described transfer of all trade receivables and the subsequent conveyance of the Company's
interest in those receivables to the Master Trusts qualified as a sale according to US GAAP and Dutch GAAP. Accounts
receivable sold under these arrangements are excluded from the accounts receivable in the consolidated balance sheet.
As a result, for fiscal 2002, the Company did not consolidate the Master Trusts. On July 10, 2003, the agreement related
to the receivables sale participated in by USF was amended and restated such that the applicable Master Trust will qualify
as a group company and will therefore be consolidated, from that date.
December 29, 2002 December 30, 2001
Cash on hand
415
491
Cash in bank
416
727
Cash investments and time deposits
171
480
1,002
1,698
No cash was restricted on December 29, 2002 and December 30, 2001.
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