Annual Report 2006

6.14 Other current liabilities and accrued expenses
Notes to the Consolidated Financial
Statements 2006 of the Mikron Group
Warranty provisions are related to sales of products and services and are based on experience. In addition, expected warranty
claims, including those in connection with the sale of the Components segment and of the Axxicon Mould Technology activities,
have been recognized. Cash outflows are expected as benefits related to the warranties given are claimed.
The liabilities of the Group for onerous contracts are based primarily on expected losses on long term lease agreements. The
provision for long term lease agreements covers lease obligations for two buildings over a period of three to five years and
will decrease as the respective lease payments are made. These liabilities have been discounted to December 31, 2006 based
on a discount rate customarily in place.
Other provisions mainly cover the risks from indemnifications related to the sale of companies in previous years and pending
legal cases.
CHF 1‘000 31.12.2006 31.12.2005
Accrued expenses 18‘169 18‘631
Other current liabilities 2‘647 3‘142
Total other current liabilities and accrued expenses 20’816 21‘773
The other current liabilities and accrued expenses mainly consist of accruals in relation to employees‘ annual leave entitlements,
overtime and bonus totaling CHF 10.3 million, outstanding trade payables as well as the remaining costs of orders
already billed, but for which final acceptance is still pending.
6.15 Shareholders‘ equity
6.15.1 Share capital The share capital as of December 31, 2006 amounts to CHF 1.7 million (prior year: CHF 1.7 million) and
consists of 16‘712’744 registered shares with a par value of CHF 0.10 per share.
Number of
CHF 1‘000 registered shares Value
Balance at 31.12.2005 16‘565‘044 1‘656
Capital increase (option exercises) 147‘700 15
Balance at 31.12.2006 16‘712‘744 1‘671
In the year under review, the remaining options on 147‘700 registered shares with a par value of CHF 0.10 each, granted to
creditors on June 19, 2003 as part of the refinancing, were exercised.
The company thus reports two remaining categories of conditional capital with an overall nominal value of CHF 62‘079. For
the purposes of exercising options and conversion rights granted to their holders in connection with the company‘s bonds
or similar debentures and/or by exercising option rights allotted to the shareholders and/or the company‘s Board of Directors
and management, 620‘799 registered shares, each with a par value of CHF 0.10, may be created. The number of registered
shares securing management option rights is limited to a maximum of 550‘000 registered shares. As at the cut-off date, the
company had not issued any options or entered into any commitments that would result in these registered shares being
issued.
63 63