Nokia 2004 Annual Report Download - page 165
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Notes to the Consolidated Financial Statements (Continued)
23. Distributable earnings
2004
EURm
Retained earnings .......................................................... 13,765
Translation differences (distributable earnings) ................................... (432)
Treasury shares ............................................................ (2,022)
Other non-distributable items
Portion of untaxed reserves ................................................ 12
Distributable earnings December 31 ............................................ 11,323
Retained earnings under IFRS and Finnish Accounting Standards (FAS) are substantially the same.
Distributable earnings are calculated based on Finnish legislation.
24. Long-term liabilities
Repayment
Outstanding date beyond Outstanding
Long-term loans are repayable as follows: December 31, 2004 5 years December 31, 2003
EURm EURm EURm
Loans from financial institutions ............. ——1
Loans from pension insurance companies ...... 19 19 18
Other long-term finance loans ................ ——1
Other long-term liabilities ................... 96 96 67
115 115 87
Deferred tax liabilities ...................... 179 241
Total long-term liabilities ................... 294 328
The long-term liabilities, excluding deferred tax liabilities as of December 31, 2004, mature as
follows:
EURm Percent of total
2005 .......................................................... — —
2006 .......................................................... — —
2007 .......................................................... — —
2008 .......................................................... — —
2009 .......................................................... — —
Thereafter ..................................................... 115 100.0%
115 100.0%
The currency mix of the Group long-term liabilities as at December 31, 2004 was as follows:
EUR USD
97.24% 2.76%
F-40