Mercedes 2002 Annual Report Download - page 124

118 |Notes to Consolidated Balance Sheets
21. Liquid Assets
Liquid assets recorded under various balance sheet captions
are as follows:
The following represents supplemental information with
respect to cash flows:
22. Prepaid Expenses
Prepaid expenses are comprised of the following:
As of December 31, 2002, 1352 million of the total prepaid
expenses mature after more than one year (2001: 17,632
million).
As a result of the underfunded status of the accumulated
pension benefit obligations in 2002, DaimlerChrysler elimi-
nated prepaid pension cost totaling 17.6 billion (see Note 23
and Note 25a).
23. Stockholders’ Equity
Number of Shares Issued and Outstanding
DaimlerChrysler had issued and outstanding 1,012,803,493
registered Ordinary Shares of no par value at December 31,
2002 (2001: 1,003,271,998). Each share represents a nominal
value of 12.60 of capital stock.
Treasury Stock
In 2002, DaimlerChrysler purchased approximately 1.1 million
(2001 and 2000: 1.4 million) Ordinary Shares in connection
with an employee share purchase plan, of which 1.1 million
(2001: 1.2 million; 2000: 1.4 million) were re-issued to
employees. The remaining 0.2 million in 2001 were resold in
the market.
Authorized and Conditional Capital
Through April 30, 2003, the Board of Management is author-
ized, upon approval of the Supervisory Board, to increase
capital stock by a total of up to an aggregate nominal amount
of approximately 1256 million and to issue Ordinary Shares
of up to an aggregate nominal amount of approximately 126
million to employees.
DaimlerChrysler is authorized to issue convertible bonds
and notes with warrants in a nominal volume of up to 115
billion with a term of up to 20 years by April 18, 2005. The
convertible bonds and notes with warrants shall grant to the
holders or creditors option or conversion rights for new shares
in DaimlerChrysler in a nominal amount not to exceed 1300
million of capital stock. DaimlerChrysler is also entitled to
grant up to 96,000,000 rights (representing up to a nominal
amount of approximately 1250 million of capital stock) with
respect to the DaimlerChrysler Stock Option Plan by April 18,
2005.
In 2002, 7,035 Ordinary Shares of DaimlerChrysler were
issued upon exercise of options from the Stock Option Plan
1996.
DaimlerChrysler is authorized through October 10, 2003,
to acquire treasury stock for certain defined purposes up to a
maximum nominal amount of 1260 million of capital stock,
representing approximately 10% of issued and outstanding
capital stock.
Convertible Notes
In June 1997, DaimlerChrysler issued 5.75% subordinated
mandatory convertible notes due June 14, 2002, with a nominal
amount of 166.83 per note. These convertible notes repre-
sented at the date of issue a nominal amount of 1508 million
including 7,600,000 notes which could be converted, subject
to adjustment, into 0.86631 newly issuable shares of Daimler-
Chrysler AG for each note before June 4, 2002. During 2002,
17,927 DaimlerChrysler Ordinary Shares were issued upon
exercise (2001: 87; 2000: 92). On June 14, 2002, the manda-
tory conversion date, 7,572,881 notes were converted into
9,506,483 newly issued Ordinary Shares of DaimlerChrysler
AG. The conversion price of 152.72 was determined on June
8, 2002, on the basis of the average closing auction price for
(in millions of 3)
At December 31,
10,715
31
10,746
3,759
20
14,525
2001 2000
9,100
30
9,130
3,293
5
12,428
2002
1 Cash and cash equivalents are mainly comprised of cash at banks, cash on hand and
checks in transit
(in millions of 3)
Year ended December 31,
4,616
(624)
2001 2000
5,629
775
2002
3,615
1,178
(in millions of 3):
Prepaid pension cost
Other prepaid expenses
At December 31,
243
719
962
2002 2001
7,584
1,022
8,606
Cash and cash equivalents 1
originally maturing within 3 months
originally maturing after 3 months
Total cash and cash equivalents
Securities
Other
7,082
45
7,127
5,378
5
12,510
Interest paid
Income taxes paid (refunded)