Siemens 2006 Annual Report Download - page 186
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18 Accrued liabilities
Thereof current portion:
Employee related costs primarily include accruals for vacation pay, bonuses, accrued over-
time and service anniversary awards, as well as provisions for severance payments.
The current and non-current accruals for product warranties changed as follows:
19 Other current liabilities
Other liabilities includes derivative financial instruments with negative fair values.
Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
182
Year ended
September 30,
2006 2005
Accrual as of beginning of fiscal year (thereof current €2,027 and €2,096) 2,823 2,824
Amount charged to expense in current period (additions) 1,239 1,137
Reduction due to payments in cash or in kind (usage) (916) (1,007)
Foreign exchange translation adjustment (26) 30
Changes related to existing warranties and other changes* (489) (161)
Accrual as of fiscal year-end (thereof current €1,890 and €2,027) 2,631 2,823
* In fiscal 2006 and 2005, Changes related to existing warranties and other changes includes €333 and €45,
respectively, reclassified to Liabilities held for disposal (see Note 3 for further information).
September 30,
2006 2005
Billings in excess of costs and estimated earnings on
uncompleted contracts and related advances 6,174 4,752
Payroll and social security taxes 1,904 2,422
Bonus obligations 1,070 1,202
Sales and other taxes 1,191 953
Deferred income 430 724
Liabilities to associated and related companies 328 392
Accrued interest 157 136
Other liabilities 1,897 2,477
13,151 13,058
September 30,
2006 2005
Employee related costs 2,570 2,876
Product warranties 1,890 2,027
Income and other taxes 1,559 1,599
Accrued losses on uncompleted contracts 898 1,185
Other 2,209 2,489
9,126 10,176