Siemens 2005 Annual Report Download - page 194
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194
In fiscal 2004, the Company repurchased a total of 1,703 thousand shares at an average price
of €62.24 per share in addition to the 1 thousand shares of treasury stock held at beginning of the
fiscal year. Of these shares, 1,704 thousand were sold to employees. The majority of these shares
was sold to employees at a preferential price of €40.90 per share during the second quarter of
fiscal 2004. As of September 30, 2004, 250 shares of stock remained in treasury with a carrying
amount of €15 thousand.
Accumulated other comprehensive income (loss)
The changes in the components of other comprehensive income are as follows:
Miscellaneous
Under the German Stock Corporation Act, the amount of dividends available for distribution to
shareholders is based upon the earnings of Siemens AG as reported in its statutory financial
statements determined in accordance with the German Commercial Code (Handelsgesetzbuch).
During the fiscal year ended September 30, 2005, Siemens AG management distributed an ordi-
nary dividend of €1,112 (€1.25 per share) of the 2004 earnings of Siemens AG as a dividend to its
shareholders. During the years ended September 30, 2004, Siemens AG management distributed
€978 (€1.10 per share) of the fiscal 2003 earnings of Siemens AG as a dividend to its shareholders.
Management’s discussion and analysis
Year ended September 30, 2005 Year ended September 30, 2004
Tax Tax
Pretax effect Net Pretax effect Net
Changes in unrealized gains (losses)
on securities:
Unrealized holding gains (losses)
for the period 271 (108) 163 218 (79) 139
Reclassification adjustments for (gains)
losses included in net income (265) 89 (176) (75) 13 (62)
Net unrealized gains (losses) on
available-for-sale securities 6 (19) (13) 143 (66) 77
Changes in unrealized gains (losses)
on derivative financial instruments:
Unrealized gains (losses) on
derivative financial instruments (165) 64 (101) 73 (33) 40
Reclassification adjustments for (gains)
losses included in net income (71) 28 (43) (111) 43 (68)
Net unrealized gains (losses) on
derivative financial instruments (236) 92 (144) (38) 10 (28)
Minimum pension liability (1,935) 690 (1,245) 1,397 (532) 865
Foreign-currency translation adjustment 483 – 483 (249) – (249)
(1,682) 763 (919) 1,253 (588) 665