Mercedes 2003 Annual Report Download - page 146
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Please find page 146 of the 2003 Mercedes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Financial Reporting | Overview | Analysis of the Financial Situation | Statement by the Board of Management | Independent Auditors’ Report | Financial Statements
The estimated fair values of investments in debt securities (exclud-
ing debt-based funds), by contractual maturity, are shown below.
Expected maturities may differ from contractual maturities
because borrowers may have the right to call or prepay obligations
with or without penalty.
Proceeds from disposals of available-for-sale securities were
€2,743 million (2002: €5,254 million; 2001: €3,402 million). Gross
realized gains from sales of available-for-sale securities were €8
million (2002: €157 million; 2001: €425 million), while gross realized
losses were €15 million (2002: €23 million; 2001: €145 million).
DaimlerChrysler uses the weighted average cost method as a basis
for determining cost and calculating realized gains and losses.
Other securities classified as cash equivalents were approximately
€5.3 billion and €4.6 billion at December 31, 2003 and 2002,
respectively, and consisted primarily of purchase agreements,
commercial paper and certificates of deposit.
21. Liquid Assets
Liquid assets recorded under various balance sheet captions are as
follows:
The following cash flows represent supplemental information with
respect to net cash provided by operating activities:
For the year ended December 31, 2003, net cash provided by
financing activities included proceeds (payments) of early
terminated derivatives of €556 million (2002: €117 million;
2001: €– million).
22. Prepaid Expenses
Prepaid expenses are comprised of the following:
As of December 31, 2003, €434 million of the total prepaid expens-
es mature after more than one year (2002: €352 million).
23. Stockholders’ Equity
Number of Shares Issued and Outstanding. DaimlerChrysler
had issued and outstanding 1,012,824,191 registered Ordinary
Shares of no par value at December 31, 2003 (2002: 1,012,803,493).
Each share represents a nominal value of €2.60 of capital stock.
Treasury Stock. In 2003, DaimlerChrysler purchased approximately
1.3 million (2002: 1.1 million; 2001: 1.4 million) Ordinary Shares
in connection with an employee share purchase plan, of which
1.3 million (2002: 1.1 million; 2001: 1.2 million) were re-issued to
employees. The remaining 0.2 million in 2001 were resold in the
market.
Authorized and Conditional Capital. On April 9, 2003, the annual
meeting authorized the Board of Management through April 8,
2008, upon approval of the Supervisory Board, to increase capital
stock by issuing new, no par value registered shares in exchange
for cash contributions totaling €500 million as well as by issuing
new, no par value registered shares in exchange for non-cash
contributions totaling €500 million and to increase capital stock
by issuing Ordinary Shares to employees totaling €26 million. In
addition, DaimlerChrysler AG is authorized through October 9,
2004, to acquire treasury stock for certain defined purposes up
to a maximum nominal amount of €263 million of capital stock,
representing approximately 10% of issued and outstanding capital
stock.
(in millions of €)
At December 31,
779
1,366
422
425
2,992
2003 2002
1,054
1,021
382
487
2,944
Due within one year
Due after one year through five years
Due after five years through ten years
Due after ten years
(in millions of €)
At December 31,
2002 2001
10,767
250
11, 017
3,268
–
14,285
2003
1 Cash and cash equivalents are mainly comprised of cash at banks, cash on hand and checks in
transit.
9,100
30
9,130
3,293
5
12,428
10,715
31
10,746
3,759
20
14,525
Cash and cash equivalents 1
originally maturing within 3 months
originally maturing after 3 months
Total cash and cash equivalents
Securities
Other
3,615
(1,178)
4,616
(624)
3,207
937
20022003
Interest paid
Income taxes paid (refunded)
Year ended December 31,
260
835
1,095
243
719
962
(in millions of €)
At December 31,
2003 2002
Prepaid pension cost
Other prepaid expenses
2001
(in millions of €)