Siemens 2011 Annual Report Download - page 312

6 A. To our shareholders 51 C. Combined management’s discussion and analysis 23 B. Corporate Governance

2 – Other liabilities
September ,
(in millions of €)  
Employee related liabilities 461 685
Deferred income 237 274
Other 1,169 1,321
1,867 2,280
 – Equity
COMMON STOCK
Siemens common stock is composed of no par value shares
with a notional value of €. per share. Each share of com-
mon stock is entitled to one vote.
The following table provides a summary of outstanding capi-
tal and the changes in authorized and conditional capital for
fiscal years  and :
Common stock
(authorized and issued)
Authorized capital
(not issued)
Conditional capital
(not issued)
in thousands
of €
in thousands
shares
in thousands
of €
in thousands
shares
in thousands
of €
in thousands
shares
As of September ,  2,742,610 914,203 591,930 197,310 757,517 252,506
Expired or cancelled capital – – – – (600,000) (200,000)
Newly approved capital – – – – 600,000 200,000
As of September ,  2,742,610 914,203 591,930 197,310 757,517 252,506
Expired or cancelled capital – – (71,130) (23,710) – –
Newly approved capital – – 90,000 30,000 270,000 90,000
As of September ,  2,742,610 914,203 610,800 203,600 1,027,517 342,506
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 con-
tent of the rights embodied in the shares and the terms and
conditions of the share issue as follows:
() Authorized Capital  by up to € million through the is-
suance of up to  million shares for contributions in cash.
The authorization was granted on January ,  and ex-
pires on January , . This authorization followed the
expiration of Authorized Capital , see (). In accordance
with Authorized Capital  new shares can be issued
solely to employees of Siemens AG and its subsidiaries. Pre-
emptive rights of existing shareholders are excluded.
() Authorized Capital  by up to €. million through
the issuance of up to . million shares for contributions
in cash and / or in kind (Authorized Capital ). The au-
thorization was granted on January ,  and expires
on January , . With the approval of the Supervisory
Board, the Managing Board can exclude shareholders’ pre-
emptive rights for capital increases in the form of contribu-
tions in kind and in certain pre-stipulated circumstances
for contributions in cash.