Other liabilities included € 62 million, representing the settlement amount as of December 31, 2003 for minority interest in limited life subsidiaries and mutual funds. These entities have termination dates between 2023 and 2103.
Included in long-term debt and short-term borrowings are € 4,164 million related to mandatorily redeemable shares. The amount to be paid if settlement were at December 31, 2003 was € 4,167 million. These mandatorily redeemable shares are primarily due between 2004 and 2033. The majority of interest paid on the redeemable shares is at fixed rates between 2.95%–6.33% with the remainder paid at variable rates, which are based on LIBOR or the tax-adjusted US dollar swap rate.