Siemens 2013 Annual Report Download - page 290

92 A. To our Shareholders 117 B. Corporate Governance 155 C. Combined Management Report
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NOTE  Other current financial liabilities
September 30,
(in millions of €) 2013 2012
Derivative financial instruments,
see NOTES  AND  350 462
Accrued interest expenses 221 237
Other 944 761
1,515 1,460
NOTE  Other current liabilities
September 30,
(in millions of €) 2013 2012
Billings in excess of costs and estimated
earnings on uncompleted contracts and
related advances 10,559 11,877
Payroll obligations and social security taxes 1,561 1,627
Other employee related costs 2,103 1,988
Deferred income 1,035 1,123
Accruals for outstanding invoices 1,067 904
Bonus obligations 1,683 1,264
Miscellaneous tax liabilities 669 650
Deferred reservation fees received 101 21
Other 923 848
19,701 20,302
Item Other employee related costs primarily includes vacation
payments, accrued overtime and service anniversary awards,
severance payments, as well as liabilities related to termina-
tion benefits.
NOTE  Debt
September 30,
(in millions of €) 2013 2012
Short-term
Notes and bonds 1,431 2,018
Loans from banks 412 1,505
Other financial indebtedness 82 270
Obligations under finance leases 20 33
Short-term debt and
current maturities of long-term debt 1,944 3,826
Long-term
Notes and bonds (maturing until 2066) 17,060 16,194
Loans from banks (maturing until 2023) 1,233 449
Other financial indebtedness
(maturing until 2027) 106 110
Obligations under finance leases 110 128
Long-term debt 18,509 16,880
20,453 20,707
Interest rates in this Note are per annum. In fiscal  and
, weighted-average interest rates for loans from banks,
other financial indebtedness and obligations under finance
leases were .% (: .%), .% (: .%) and .% (:
.%), respectively.
A) COMMERCIAL PAPER PROGRAM
Siemens has a US$. billion (€. billion as of September ,
) multi-currency commercial paper program in place in-
cluding US$ extendible notes capabilities. As of September ,
 and  no commercial papers were outstanding.
Siemens’ commercial papers have a maturity of generally less
than  days. Interest rates ranged from .% to .% in
fiscal  and from (.)% to .% in fiscal .