Siemens 2008 Annual Report Download - page 270

174 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
resolution additionally permits, upon approval of the Supervisory Board, e) the transfer to third parties as con-
tributions in kind particularly in connection with business combinations and the acquisition of companies or
interests therein and f) the sale to third parties for cash if the price is not signicantly lower than the market
price on the trading day as dened in detail.
In November 2007, the Company announced a share buy back program. Under the program, the Company
expects to conduct share repurchases with a total volume of up to €10 billion by 2010 for the purpose of cancel-
lation and reduction of capital stock and, to a lesser extent, to fulll obligations arising out of stock based com-
pensation programs.
In scal 2008, the Company repurchased a total of 56,201,421 shares at an average price of €77.41 per share.
In scal 2008, a total of 3,556,139 shares of treasury stock were issued. Thereof, 2,829,239 shares were issued to
share-based compensation plan participants to accommodate the exercise of stock options and 720,292 shares
were issued to employees under the employee share purchase program with compensation character (see Note
34 for additional information). As of September 30, 2008, 52,645,665 shares remained in treasury with a carry-
ing amount of €4,002.
In scal 2007, the Company repurchased a total of 1,306,476 shares, including the 1,290,000 shares relating to
the capital increase from Authorized Capital 2006, at an average price of €77.00 per share. In scal 2007, a total
of 1,306,508 shares of Treasury Stock were issued. Thereof, 1,294,159 shares were issued to employees under
the employee share purchase program with compensation character (see Note 34 for additional information)
and 12,349 shares of Treasury Stock were transferred primarily as settlement to former SNI AG stockholders.
As of September 30, 2007, 383 shares of stock remained in treasury with a carrying amount of €29 thousand.
Additional paid-in capital
In 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 23).
Other components of equity
The changes in the other components of equity are as follows:
Year ended September 30, 2008 Year ended September 30, 2007
Pretax Tax effect Net Pretax Tax effect Net
Unrealized holding gains (losses) on
available-for-sale nancial assets (158) 10 (148) 29 – 29
Reclassication adjustments for (gains)
losses included in net income 24 2 26 1 – 1
Net unrealized gains (losses) on
available-for-sale nancial assets (134) 12 (122) 30 – 30
Unrealized gains (losses) on
derivative nancial instruments (548) 165 (383) 48 (9) 39
Reclassication adjustments for (gains)
losses included in net income 212 (66) 146 89 (28) 61
Net unrealized gains (losses) on
derivative nancial instruments (336) 99 (237) 137 (37) 100
Foreign-currency translation differences (314) – (314) (566) – (566)
(784) 111 (673) (399) (37) (436)