Siemens 2007 Annual Report Download - page 238

238 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
10 Available-for-sale fi nancial assets
The following tables summarize the current portion of the Company’s investment
in available-for-sale fi nancial assets:
Proceeds from sales of available-for-sale fi nancial assets traded in an active
market for the years ended September 30, 2007 and 2006 were €419 and €2,701,
respectively. Gross realized gains on sales of such available-for-sale fi nancial
assets for continuing and discontinued operations for the years ended September
30, 2007 and 2006 were €10 and €409, respectively. Gross realized losses on sales
of such available-for-sale fi nancial assets for continuing and discontinued opera-
tions for the years ended September 30, 2007 and 2006 were €31 and €7, respec-
tively.
In April 2006, the Company completed the sale of its remaining interest in
Infi neon, representing 136.3 million shares, for net proceeds of €1,127. The trans-
action resulted in a gain of €33 (see also Note 8). In connection with the sale, €50
was reclassifi ed from Other components of equity, net of income tax to net income.
As a result of the transaction, the Company no longer owns any shares of Infi neon.
In March 2006, the Company sold its remaining interest in Epcos, representing
8.2 million shares, for net proceeds of €90. The transaction resulted in a pre-tax
gain of €15 (see also Note 8).
In fi scal 2006, the Company made total investments of €1,409 in debt instru-
ments. Net proceeds from the sale of debt instruments in fi scal 2007 and 2006
totaled €365 and €986, respectively (see also Notes 8 and 31).
As part of the MD transaction in fi scal 2005, Siemens purchased €50 in Global
Depositary Receipts (GDR’s) on common shares in BenQ in December 2005, which
at that time represented a 2.4 percent investment in BenQ. The GDR’s were
impaired by €20 as of September 30, 2006. An additional impairment of €12 was
recorded in fi scal 2007. The related impairment charges are included in Financial
income (expense), net (see also Note 8).
September 30, 2007
Cost
Unrealized
Fair Value Gain Loss
Equity instruments 44 65 21 –
Debt instruments 94 94 – –
Fund shares 34 34 – –
172 193 21 –
September 30, 2006
Cost
Unrealized
Fair Value Gain Loss
Equity instruments 64 81 17 –
Debt instruments 498 492 – 6
Fund shares 23 23 – –
585 596 17 6