Siemens 2009 Annual Report Download - page 246


 Reports Supervisory Board /
Managing Board  Corporate Governance  Management’s discussion and analysis  Consolidated Financial Statements
 Consolidated Statements of Income  Consolidated Statements of Income
and Expense Recognized in Equity
 Consolidated Balance Sheets  Consolidated Statements of Cash Flow
Other financial indebtedness
Other financial indebtedness includes €393 and €256 as of
September 30, 2009 and 2008, respectively, for the Company ’s
real estate assets that were sold or transferred and in which
Siemens has retained significant risks and rewards of owner-
ship, including circumstances in which Siemens participates
directly or indirectly in the change in market value of the prop-
erty. Therefore, these transactions have been accounted for as
financing obligations. These real estate properties are carried
on the Company ’s Consolidated Balance Sheets and no sale
and profit has been recognized. As of September 30, 2009 and
2008, Other financial indebtedness also includes €337 and €198,
respectively, of U.S.$ outstanding global commercial paper.
c) Assignable loans
In the third quarter of fiscal 2008, the Company obtained as-
signable loans. The loans, totaling €1.1 billion and €1.1 billion
in nominal and carrying amount as of September 30, 2009 and
2008, respectively, are for general corporate purposes and
were issued in four tranches: €370 floating rate notes (Euro-
pean Interbank Offered Rate (EURIBOR + 0.55%) due June 12,
2013; €113.5, 5.283% notes due June 12, 2013; €283.5 floating
rate notes (EURIBOR + 0.70%) due June 12, 2015 and €333,
5.435% notes due June 12, 2015).
d) Credit facilities
The credit facilities at September 30, 2009 and 2008 consisted
of €6.6 and €6.7 billion, respectively, in committed lines of
credit. These include a U.S.$5.0 billion syndicated multi-cur-
rency revolving credit facility expiring March 2012 and a
U.S.$4.0 billion syndicated multi-currency revolving credit fa-
cility expiring August 2013. The U.S.$4 billion facility com-
prises a U.S.$1.0 billion term loan which was drawn in January
2007, bearing interest of 0.15% above LIBOR (London Interbank
Offered Rate) as well as a U.S.$3.0 billion revolving tranche not
yet drawn. It also includes a third revolving credit facility pro-
vided by a domestic bank with an aggregate amount of €450
expiring in September 2012. As of September 30, 2009 and
2008, €5.9 and €6.0 billion, respectively, of these lines of credit
remained unused. Commitment fees for the years ended Sep-
tember 30, 2009 and 2008 amount to €2.7 and €2.8, respec-
tively. The facilities are for general business purposes.
As of September 30, 2009 and 2008, the aggregate amounts of
indebtedness maturing during the next five years and thereaf-
ter are as follows (excluding finance leases which are disclosed
separately):
September
Fiscal year 2009 
2009 –1,768
2010 653 169
2011 2,243 2,069
2012 2,595 2,514
2013 3,200 1,190
2014 1,112
After 2014 in fiscal 2009
(after 2013 in fiscal 2008) 9,641 8,136
19,444 15,846
B27T051_E
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