Siemens 2005 Annual Report Download - page 170
Download and view the complete annual report
Please find page 170 of the 2005 Siemens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160 -
161 -
162 -
163 -
164 -
165 -
166 -
167 -
168 -
169 -
170 -
171 -
172 -
173 -
174 -
175 -
176 -
177 -
178 -
179 -
180 -
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
170
19 Other current liabilities
20 Debt
As of September 30, 2005, weighted-average interest rates for loans from banks, other finan-
cial indebtedness and obligations under capital leases were 4.5% (2004: 4.3%), 4.1% (2004: 3.5%)
and 6.1% (2004: 6.2%), respectively. In some countries, the Company has pledged securities and
executed promissory notes to secure borrowings in conformity with local practice.
The Company has agreements with financial institutions under which it may issue up to €3.0
billion of commercial paper and U.S.$3.0 billion (€2.5 billion and €2.4 billion, respectively, as of
September 30, 2005 and 2004) of commercial paper. As of September 30, 2005 and 2004, out-
standing commercial paper totaled €1,484 (interest rates from 3.00% to 3.87%) and €242 (interest
rates from 1.41% to 1.59%), respectively.
Management’s discussion and analysis
September 30,
2005 2004
Billings in excess of costs and estimated earnings on
uncompleted contracts and related advances 4,752 4,585
Payroll and social security taxes 2,631 2,515
Bonus obligations 1,202 1,151
Sales and other taxes 953 924
Deferred income 724 634
Liabilities to associated and related companies 392 368
Accrued interest 136 128
Other liabilities 2,477 1,545
13,267 11,850
September 30,
2005 2004
Short-term
Notes and bonds 1,625 621
Loans from banks 673 478
Other financial indebtedness 1,612 295
Obligations under capital leases 89 40
Short-term debt and current maturities of long-term debt 3,999 1,434
Long-term
Notes and bonds (maturing 2006 –2011) 6,826 8,345
Loans from banks (maturing 2006 –2016) 613 266
Other financial indebtedness (maturing 2006–2018) 733 971
Obligations under capital leases 264 203
Long-term debt 8,436 9,785
12,435 11,219