Siemens 2008 Annual Report Download - page 268

172 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
The Company recognizes the accretion of the provision for asset retirement obligations using the effective inter-
est method applying current interest rates prevailing at the balance sheet date. During the year ended Septem-
ber 30, 2008 the Company recognized €32 in accretion expense in Financial income (expense), net. Changes in
discount rates increased the carrying amount of provisions by €21 as of September 30, 2008.
26 Other liabilities
27 Equity
Common stock
Siemens common stock is composed of no par value shares with a notional value of €3.00 per share. Each share
of common stock is entitled to one vote.
The following table provides a summary of outstanding capital and the changes in authorized and conditional
capital for scal years 2008 and 2007:
Authorized capital (not issued)
The Company’s shareholders authorized the Managing Board, with the approval of the Supervisory Board, to
increase capital stock through the issuance of no par value shares registered in the names of the holders and to
determine the further content of the rights embodied in the shares and the terms and conditions of the share
issue as follows:
September 30,
2008 2007
Liabilities for employee related costs 1,033 926
Deferred income 203 187
Other 1,140 1,187
2,376 2,300
Common stock
(authorized and issued)
Authorized capital
(not issued)
Conditional capital
(not issued)
in
thousands
of €
in
thousand
shares
in
thousands
of €
in
thousand
shares
in
thousands
of €
in
thousand
shares
As of September 30, 2006 2,673,262 891,087 675,000 225,000 925,481 308,494
Conversion 1.375% 2003/2010 EUR convertible
notes (see Note 23) 31,038 10,346 – – (31,038) (10,346)
Stock options (see Note 34) 34,440 11,480 – – (34,440) (11,480)
Employee share purchase program (see Note 34) 3,870 1,290 (3,870) (1,290) – –
As of September 30, 2007 2,742,610 914,203 671,130 223,710 860,002* 286,667*
Share-based payments (see Note 34) – – – – – –
As of September 30, 2008 2,742,610 914,203 671,130 223,710 860,002* 286,667*
* Due to rounding, amounts presented may not add up precisely.