Siemens 2009 Annual Report Download - page 263

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 Managing Board statements, Independent auditors’ report, Additional information
 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise
stated and per share amounts)
In fiscal 2008, the Company repurchased a total of 56,201,421
shares at an average price of €77.41 per share. In fiscal 2008, a
total of 3,556,139 shares of treasury stock were sold. Thereof,
2,829,239 shares were issued to share-based compensation
plan participants to accommodate the exercise of stock op-
tions and 720,292 shares were issued to employees under the
employee share purchase program with compensation charac-
ter (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.
Other components of equity
The changes in the other components of equity are as follows:
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 cancellation and reduction of capital
stock and, to a lesser extent, to fulfill obligations arising out of
stock based compensation programs. As of September 30,
2009, 56,201,421 Treasury shares amounting to €4,350 have
been repurchased.
In fiscal 2009, 189 shares were re-deposited to the Company ’s
Treasury Stock and 4,868,193 of Treasury Shares were re-issued
in connection with share-based payment plans. As of Septem-
ber 30, 2009, 47,777,661 shares remained in treasury with a
carrying amount of €3,632.
Year ended September 30, 2009 Year ended September 30, 2008
Pretax Tax effect Net Pretax Tax effect Net
Unrealized holding gains (losses) on available-for-sale financial assets 46 (8) 38 (135) 10 (125)
Reclassification adjustments for (gains) losses included in net income 44 (10) 34 1 2 3
Net unrealized gains (losses) on available-for-sale financial assets 90 (18) 72 (134) 12 (122)
Unrealized gains (losses) on derivative financial instruments 335 (101) 234 (124) 33 (91)
Reclassification adjustments for (gains) losses included in net income 138 (43) 95 (212) 66 (146)
Net unrealized gains (losses) on derivative financial instruments 473 (144) 329 (336) 99 (237)
Foreign-currency translation differences (505) – (505) (314) – (314)
58 (162) (104) (784) 111 (673)
B27T075_E
Miscellaneous
Under the German Stock Corporation Act (Aktiengesetz), the
amount of dividends available for distribution to shareholders
is based upon the earnings of Siemens AG as reported in its
statutory financial statements determined in accordance with
the German Commercial Code (Handelsgesetzbuch). In fiscal
2009, Siemens AG management distributed an ordinary divi-
dend of €1,380 (€1.60 per share) of the fiscal 2008 earnings to
its shareholders. In fiscal 2008, Siemens AG management dis-
tributed €1,462 (€1.60 per share) of the fiscal 2007 earnings to
its shareholders.
The Managing Board proposed a dividend of €1.60 per share of
the fiscal 2009 Siemens AG earnings, in total representing ap-
proximately €1,388 in expected payments. Payment of the pro-
posed dividend is contingent upon approval by the sharehold-
ers at the Annual Shareholders’ Meeting on January 26, 2010.