Mercedes 1999 Annual Report Download - page 98

NOTES TO THE CONSOLIDATED BALANCE SHEETS
92
17. CASH AND CASH EQUIVALENTS
Cash and cash equivalents include €338 (1998: €308) of deposits
with original maturities of more than three months.
18. ADDITIONAL CASH FLOW INFORMATION
Liquid assets recorded under various balance sheet captions are as
follows:
1997
At December 31,
1999 1998
8,761 6,281 6,634
338 308 175
8,969 12,160 10,180
133 324 336
18,201 19,073 17,325
The following represents supplemental information with respect to
cash flows:
1997
Year ended at December 31,
Interest paid
Income taxes paid
1999 1998
3,315 2,553 1,953
1,883 993 1,699
19. PREPAID EXPENSES
Prepaid expenses are comprised of the following:
1998
At December 31,
Prepaid pension cost
Other prepaid expenses
6,236 5,309
978 825
7,214 6,134
1999
As of December 31, 1999, €6,118 of the total prepaid expenses ma-
ture after more than one year (1998: €5,280).
20. STOCKHOLDERS’ EQUITY
Number of shares issued and outstanding
DaimlerChrysler had issued and outstanding 1,003,261,403 and
1,001,733,220 registered, Ordinary Shares of no par value at De-
cember 31, 1999 and 1998, respectively. Each share represents ap-
proximately €2.56 of capital stock.
Special Distribution
On May 27, 1998 the Daimler-Benz shareholders approved, and on
June 15, 1998 Daimler-Benz paid, a special distribution of €10.23
(€10.04 after adjustment to reflect the approximately 20% discount
to market value at which the Daimler-Benz Ordinary Shares and
ADS were sold in the rights offering) per Ordinary Share/ADS.
Rights Offering
In June 1998, Daimler-Benz issued to holders of Daimler-Benz Or-
dinary Shares, ADS and convertible debt securities, rights to ac-
quire up to an aggregate of 52.4 million newly issued Daimler-
Benz Ordinary Shares and on June 25, 1998, Daimler-Benz issued
and sold 52.4 million Daimler-Benz Ordinary Shares for net pro-
ceeds of €3,827. The rights issued by Daimler-Benz entitled the
holders to purchase Daimler-Benz Ordinary Shares at approxi-
mately a 20% discount to the market price of Daimler-Benz Ordi-
nary Shares. Basic and diluted earnings per Ordinary Share have
been restated to reflect the dilutive effect resulting from the dis-
count to market value at which the Daimler-Benz Ordinary Shares
were sold in the rights offering.
Treasury Stock
During the second half of 1999, DaimlerChrysler purchased ap-
proximately 1.2 million of its Ordinary Shares and reissued the
shares to employees in connection with an employee share pur-
chase plan.
In November 1998, Chrysler contributed 23.5 million shares of its
common stock to the Chrysler Corporation Retirement Master
Trust, which serves as a funding medium for and holds the assets
of various pension and retirement plans of Chrysler.
Preferred Stock
On July 24, 1998, Chrysler redeemed all of the outstanding
Chrysler Depositary Shares representing its Series A Convertible
Preferred Stock.
Authorized and conditional capital
Through April 30, 2003, the Board of Management is authorized,
upon approval of the Supervisory Board, to increase capital stock
by a total of up to €256 and to issue shares of up to €26 to employ-
ees.
With respect to the 4.125% convertible notes and the 5.75% subor-
dinated mandatory convertible notes described below, capital stock
may be conditionally increased by up to €43.7 for conversions. In
addition, DaimlerChrysler is authorized to issue shares equaling
up to €102 of capital stock in connection with convertible bonds or
bonds with warrants issued or guaranteed by April 30, 2003.
Cash and cash equivalents
originally maturing within 3 months
Cash and cash equivalents
originally maturing after 3 months
Securities
Other