Siemens 2009 Annual Report Download - page 261


 Managing Board statements, Independent auditors’ report, Additional information
 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise
stated and per share amounts)
 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 com-
mon stock is entitled to one vote.
The following table provides a summary of outstanding capital
and the changes in authorized and conditional capital for fis-
cal years 2009 and 2008:
 OTHER LIABILITIES
September ,
 
Employee related liabilities 815 1,033
Deferred income 194 203
Other 1,013 1,140
2,022 2,376
B27T073_E
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 ,  2,742,610 914,203 671,130 223,710 860,002
286,667 
Share-based payments (see Note ) – – – – – –
As of September ,  2,742,610 914,203 671,130 223,710 860,002 286,667 
Expired capital – – (600,000) (200,000) (702,485) (234,161)
Newly approved capital – – 520,800 173,600 600,000 200,000
Share-based payments (see Note ) – – – – – –
As of September ,  2,742,610 914,203 591,930 197,310 757,517 252,506

1 Due to rounding, amounts presented may not add up precisely.
B27T074_E
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 condi-
tions of the share issue as follows:
a) Authorized Capital 2009 by up to €520.8 through the issu-
ance of up to 173.6 million shares in exchange for contribu-
tions in cash and/or in kind (Authorized Capital 2009) until
January 26, 2014. It replaced Authorized Capital 2004 – see c).
b) Authorized Capital 2006 by up to €75 through issuing up
to 25 million shares for contributions in cash. The authori-
zation was granted on January 26, 2006 and expires on
January 25, 2011. As of September 30, 2009, €71.1 repre-
senting 23.71 million shares are still available for issuance.
c) Authorized Capital 2004 by up to €600 through issuing up
to 200 million new shares for contributions in cash and/or
kind. The authorization was granted on January 22, 2004
and expired on January 21, 2009.
Regarding Authorized Capital 2009 and 2004, with the ap-
proval of the Supervisory Board, the Managing Board can ex-
clude shareholders’ pre-emptive rights for capital increases in
the form of contributions in kind and in certain pre-stipulated
circumstances for contributions in cash.
In accordance with Authorized Capital 2006 and Authorized
Capital 2004, new shares can be issued solely to employees of
Siemens AG and its subsidiaries (provided these subsidiaries
are not listed companies themselves and do not have their
own employee stock schemes). Pre-emptive rights of existing
shareholders are excluded.