Siemens 2007 Annual Report Download - page 269

Notes to Consolidated Financial Statements 269
(in millions of €, except where otherwise stated and per share amounts)
Notes to Consolidated Financial Statements
respectively, and is recorded net of a present value discount of €1,353, and €1,300,
respectively. The total expected payments for each of the next fi ve fi scal years and
the total thereafter are €22, €38, €17, €6, €1, and €1,866 (includes €1,811 for the
estimated costs associated with fi nal storage in 2033).
The Company recognizes the accretion of the provision for asset retirement
obligations using the effective interest method applying current interest rates
prevailing at the balance sheet date. During the year ended September 30, 2007
the Company recognized €31 in accretion expense in Financial income (expense)
net. Changes in discount rates decreased the carrying amount of provisions by
€83 as of September 30, 2007.
See Note 4 for further information on provisions reclassifi ed to Liabilities asso-
ciated with assets classifi ed as held for disposal.
25 Other liabilities
26 Equity
Common stock and Additional paid-in capital
As of September 30, 2007, the Company’s common stock totaled €2,743 divided
into 914,203 thousand shares with no par value and a notional value of €3.00 per
share. Each share of common stock is entitled to one vote.
As of September 30, 2006, the Company’s common stock totaled €2,673 repre-
senting 891,087 thousand shares.
In fi scal 2007, additional paid-in capital decreased by €1,168, net of applicable
deferred income taxes, as a result of the repurchase of approximately €1.9 billion
of the Company’s outstanding convertible notes (see Note 22 for further informa-
tion on the convertible notes). In fi scal 2006, additional paid-in capital increased
by €487, net of applicable deferred income taxes, representing the amount of the
derivative component of the convertible notes that was reclassifi ed to equity upon
waiving the cash settlement option (see Note 22 for further information).
September 30,
2007 2006
Liabilities for employee related costs 926 952
Deferred income 187 156
Other 1,187 1,066
2,300 2,174