Nokia 2008 Annual Report Download - page 9
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Please find page 9 of the 2008 Nokia 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.2004 2005 2006 2007
(1)
2008
(1)
2008
(1)
(EUR) (EUR) (EUR) (EUR) (EUR) (USD)
Year Ended December 31,
(in millions, except per share data)
Balance Sheet Data
Fixed assets and other noncurrent
assets .......................... 3315 3501 4031 8305 15112 21034
Cash and other liquid assets
(3)
........ 11542 9910 8537 11753 6820 9493
Other current assets ................ 7966 9041 10049 17541 17650 24567
Total assets ....................... 22823 22452 22617 37599 39582 55094
Capital and reserves attributable to
equity holders of the parent ........ 14385 12309 11968 14773 14208 19776
Minority interests................... 168 205 92 2565 2302 3204
Longterm interestbearing liabilities . . . 19 21 69 203 861 1 199
Other longterm liabilities ............ 275 247 327 1082 1856 2583
Borrowings due within one year....... 113 279 180 887 3591 4998
Other current liabilities .............. 7863 9391 9981 18089 16764 23334
Total shareholders’ equity and
liabilities ....................... 22823 22452 22617 37599 39582 55094
Net interestbearing debt
(4)
........... (11410) (9610) (8288) (10663) (2368) (3 296)
Share capital ...................... 280 266 246 246 246 342
(1)
As from April 1, 2007, our consolidated financial data includes that of Nokia Siemens Networks on
a fully consolidated basis. Nokia Siemens Networks, a company jointly owned by Nokia and
Siemens, is comprised of our former Networks business group and Siemens’ carrierrelated
operations for fixed and mobile networks. Accordingly, our consolidated financial data for the
years ended December 31, 2007 and 2008 is not directly comparable between each other or to
our consolidated financial data for the prior years. Our consolidated financial data for the years
prior to the year ended December 31, 2007 included our former Networks business group only.
(2)
The cash dividend for 2008 is what the Board of Directors will propose for shareholders’ approval
at the Annual General Meeting convening on April 23, 2009.
(3)
Cash and other liquid assets consist of the following captions from our consolidated balance
sheets: (1) bank and cash, (2) availableforsale investments, cash equivalents, and (3) available
forsale investments, liquid assets.
(4)
Net interestbearing debt consists of borrowings due within one year and longterm interest
bearing liabilities, less cash and other liquid assets.
Distribution of Earnings
We distribute retained earnings, if any, within the limits set by the Finnish Companies Act. We make and
calculate the distribution, if any, either in the form of cash dividends, share buybacks, or in some other
form or a combination of these. There is no specific formula by which the amount of a distribution is
determined, although some limits set by law are discussed below. The timing and amount of future
distributions of retained earnings, if any, will depend on our future results and financial condition.
Under the Finnish Companies Act, we may distribute retained earnings on our shares only upon a
shareholders’ resolution and subject to limited exceptions, in the amount proposed by our Board of
Directors. The amount of any distribution is limited to the amount of distributable earnings of the
parent company pursuant to the last accounts approved by our shareholders, taking into account the
material changes in the financial situation of the company after the end of the last financial period and
a statutory requirement that the distribution of earnings must not result in insolvency of the company.
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