Siemens 2007 Annual Report Download - page 150

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150 Management’s discussion and analysis
Contractual Obligations
In the ordinary course of business, Siemens’ primary contractual obligations
regarding cash involve debt service, purchase obligations and operating lease
commitments.
The following table summarizes contractual obligations for future cash outfl ows
as of September 30, 2007:
Debt – At September 30, 2007, Siemens had €15.497 billion of short- and long-
term debt, of which €5.637 billion will become due within the next 12 months.
Short-term debt includes current maturities of long-term debt, as well as loans from
banks coming due within the next 12 months. At September 30, 2007, the weighted
average maturity of our bonds and notes due after one year was 8.24 years. At Sep-
tember 30, 2006, total debt was €15.297 billion. Further information about the
components of debt is given in “Notes to Consolidated Financial Statements.”
Debt for Siemens at September 30, 2007 consisted of the following:
The capital structure of the Financing and Real Estate component at September
30, 2007 and 2006 consisted of the following:
Payments due by period
(€ in millions) Total
Less than
1 year
1 – 3
years
4 – 5
years
After
5 years
Debt 15,497 5,637 847 3,123 5,890
Purchase obligations 12,884 11,622 1,013 159 90
Operating leases 2,450 581 837 481 551
Total contractual cash obligations 30,831 17,840 2,697 3,763 6,531
(€ in millions)
Short-
Term
Long-
Term Total
Notes and bonds 693 8,196 8,889
Loans from banks 478 871 1,349
Other fi nancial indebtedness 4,418 555 4,973
Obligations under fi nance leases 48 238 286
Total debt 5,637 9,860 15,497
September 30, 2007 September 30, 2006
(€ in millions) SFS SRE SFS SRE
Assets 8,912 3,091 10,543 3,221
Allocated equity 1,041 920 1,131 920
Total debt 7,081 1,072 8,819 1,239
Therein intragroup fi nancing 6,822 739 8,487 928
Therein debt from external sources 259 333 333 311
Debt to equity ratio 6.80 1.17 7.80 1.35
SFS internally purchased receivables 406 – 2,761 –
SFS debt excluding SFS internally purchased receivables 6,675 – 6,058 –