|
·
|
Fourth quarter net revenues
$2.28 billion
|
|
·
|
Fourth quarter net operating
cash flow of $153 million*
|
|
·
|
Full year net revenues $9.84
billion; full year clean EPS* of
$0.40
|
|
In
Million US$ and %
|
Q4
2008
|
Q3
2008
|
Q4
2007
|
|
Reported
Net Revenues
|
2,276
|
2,696
|
2,742
|
|
Gross Margin(a)
|
37.5%
|
37.7%
|
36.9%
|
|
Reported
Net Earnings
|
(366)
|
(289)
|
20
|
|
Effective
Exchange Rate $/€(b)
|
1.40
|
1.54
|
1.43
|
|
As
% of Net Revenues
|
Q4
2008
|
|
Market
Segment
|
|
|
Automotive
|
12.6%
|
|
Consumer
|
17.0%
|
|
Computer
|
15.5%
|
|
Telecom
|
38.2%
|
|
Industrial
& Other
|
16.7%
|
|
In
Million US$ and %
|
Q4
2008
|
||
|
Product
Segment
|
Net
Revenues |
%
of Net
Revenues
|
Operating
income
(loss)
|
|
ACCI
(Auto/Cons./Comp./Telecom Infra. Product Groups)
|
899
|
39.5%
|
(3)
|
|
IMS
(Industrial and Multisegment Product Sector)
|
791
|
34.8%
|
85
|
|
WPS
(Wireless Product Sector)
|
575
|
25.2%
|
(82)
|
|
Others (a)
(b)
|
11
|
0.5%
|
(139)
|
|
TOTAL
|
2,276
|
100%
|
(139)
|
|
·
|
ACCI’s
net revenues declined 17.2% sequentially and 16.6% year-over-year,
reflecting a significant decrease in Automotive as well as difficult
market conditions in all other areas but mitigated by sequential and
year-over-year mix improvements in
Consumer.
|
|
·
|
ACCI’s
operating result registered a slight loss of $3 million, a substantial
decrease both sequentially and year-over-year, largely due to lower sales
volumes in the fourth
quarter.
|
|
|
·
|
IMS
net revenues decreased 12.2% sequentially and 6.5% year-over-year,
reflecting a general decline in multisegment market conditions except in
MEMS, Smartcards and
Microcontrollers.
|
|
|
·
|
Fourth
quarter IMS sales were composed of $513 million of ICs which declined 11%
sequentially but increased 1% year-over-year and $278 million of discrete
products which decreased 15% sequentially and 18%
year-over-year.
|
|
|
·
|
IMS
operating profit was $85 million, a significant decrease both sequentially
and year-over-year.
|
|
|
·
|
WPS
net revenues decreased 17.4% sequentially reflecting significant weakness
in the wireless market. On a year-over year-basis, WPS net revenues
increased 29.6% reflecting additional sales from the joint venture with
NXP Wireless as well as an improved product mix and expanded customer
base.
|
|
|
·
|
WPS’
fourth quarter 2008 operating loss of $82 million includes $25 million of
amortization of intangibles from the NXP Wireless acquisition and was
largely due to a sharp drop in sales volumes and higher R&D
expenses.
|
|
Net
Revenues
(In
Million US$ and %)
|
Full
Year 2008
|
Full
Year 2007
|
Year-over-Year
Change
|
|
ST
as reported
|
9,842
|
10,001
|
(1.6%)
|
|
ST
ex FMG and NXP Wireless
|
9,052
|
8,637
|
4.8%
|
|
In
Million US$ and %
|
Full
Year 2008
|
||
|
Product
Segment
|
Net
Revenues
|
%
of Net
Revenues
|
Operating
income
(loss)
|
|
ACCI
(Auto/Cons./Comp./Telecom Infra. Product Groups)
|
4,129
|
42.0%
|
107
|
|
IMS
(Industrial and Multisegment Product Sector)
|
3,329
|
33.8%
|
459
|
|
WPS
(Wireless Product Sector)
|
2,030
|
20.6%
|
(70)
|
|
FMG (Flash Memories Group) (a)
|
299
|
3.0%
|
16
|
|
Others
|
55
|
0.6%
|
(710)
|
|
TOTAL
|
9,842
|
100%
|
(198)
|
|
Net
Revenues
(In
Million US$ and %)
|
Full
Year
2008
|
Full
Year
2007
|
Year-over-Year
Change
|
|
ACCI
|
|||
|
Automotive (APG)
|
1,460
|
1,419
|
2.9%
|
|
Computer and Communication Infrastructure
(CCI)
|
1,077
|
1,123
|
(4.0%)
|
|
Home Entertainment & Displays
(HED)
|
1,585
|
1,402
|
13.0%
|
|
Other ACCI
|
7
|
0
|
n/a
|
|
IMS
|
|||
|
Analog, Power and MEMS
(APM)
|
2,393
|
2,313
|
3.5%
|
|
Micro, non-Flash Memory and Smartcard
(MMS)
|
936
|
825
|
13.3%
|
|
|
·
|
First, 2009 will be a year
focused on improving our competitiveness as we execute on our plan to
complete the wireless joint venture with Ericsson Mobile Platforms during
the first quarter.
|
|
|
·
|
Second, we are targeting to
reduce our costs by over $700 million in 2009 in respect to the Company’s
fourth quarter 2008 cost base. The actions are a combination of the
ongoing restructuring initiatives and new programs that are focused on
resizing the Company’s manufacturing operations and streamlining expenses,
and are expected
to affect about
4,500 net jobs worldwide in 2009.
|
|
|
·
|
Third, we continue to advance our
lighter asset strategy focused on careful management of our capital
investments. As a result, we have set a capex budget of about $500 million
for 2009, representing a 50% reduction in comparison to
2008.
|
|
|
·
|
Fourth, thanks to our strong
and consistent investment in our product portfolio we are in a solid
position to provide innovative products that will continue our momentum by
driving the Company to gain market share in 2009 just as we have in
2008.”
|
|
|
·
|
In
automotive powertrain applications, ST gained several design wins: a
multi-driver IC for a market leader in Japan, expected to be used by two
car makers in Japan and a third in China; and in Europe, tier-one OEMs
selected ST for a mid- to low-end powertrain platform, including multiple
Power PC-based microprocessors, and as the single-source supplier for
gasoline direct-injection integrated driver ICs, for use in small to
medium Euro 5 and 6 cars from 2012, involving most European car makers and
several makers in China. ST also gained design wins for its automotive
standard products, in areas such as airbags and brake-control
modules.
|
|
|
·
|
Also
in powertrain, ST and LG Chem unveiled details of a battery pack combining
LG Chem’s lithium-ion battery technology and a state-of-the-art
battery-management IC from ST, which can significantly extend the
potential of electric and hybrid electric vehicles (HEVs), reducing both
petrol consumption and CO2 emissions. In safety applications, ST announced
its first high-dynamic-range CMOS camera tailored for vision-based
Advanced Driver-Assistance Systems
(ADAS).
|
|
|
·
|
In
car multimedia, ST announced it is to collaborate on a common platform
that combines ST’s GPS technology with NAVTEQ’s digital road map, also for
ADAS solutions. ST’s GPS technologies were also selected by two major
system makers for telematics applications in South America and also for
tolling systems in Europe. Additionally, ST introduced the world’s first
car audio-amplifier with a digital input, eliminating the need for signal
conversion and resulting in higher sound quality and better noise
immunity.
|
|
|
·
|
In
car-body applications, ST gained many design wins for body control module
platforms in Europe and Japan and achieved strong market acceptance of its
24V product roadmap for intelligent power switches. ST also introduced a
single chip that produces the major signals required to drive vehicle
door-mounted systems as well as an improved method for controlling
electrochrome rear-view mirrors, eliminating discrete driver chips
normally mounted in multiple locations inside the
door.
|
|
|
·
|
In
digital consumer, ST announced its leading-edge STi7141 cable TV
set-top-box IC combining high-definition and interactive capabilities and
the STDP3100 DisplayPort-to-VGA converter enabling seamless connectivity
between legacy VGA monitors, projectors and the new generation of
DisplayPort PCs and notebooks. ST’s DisplayPort products were adopted by
two leading LCD and plasma TV makers for their ‘two-box’ TV systems, to
deliver performance up to120Hz full high
definition.
|
|
|
·
|
In
consumer audio, ST gained two design wins in Korea for home entertainment
systems for the latest device in its Sound Terminal family. The chip
integrates standard digital processing features and an expansion of
analog-input capabilities to enable higher flexibility in audio source
management.
|
|
|
·
|
In
computer peripherals, ST secured major design wins for hard-disk-drive
(HDD) ICs for desktop PC applications, including: a HDD motor controller
from a leading maker; a 40nm process technology system-on-chip (SoC),
also from a leading HDD maker; and sampling of a new desktop HDD power
combo to major customers, based on ST’s latest-generation BCD
(Bipolar-CMOS-DMOS) technology. ST also gained a design win for an
ASIC, implemented in 40nm technology, from a major OEM for the printer and
imaging market.
|
|
|
·
|
In
communications infrastructure applications, ST gained an important
design win from a leading OEM for the development of an ASIC for use
in data-center solutions.
|
|
|
·
|
In
MEMS motion sensors, ST introduced a family of 3x3x1mm high-performance
three-axis linear accelerometers with digital output, boasting resolution
scalability, smart embedded features and reduced power consumption. ST
also gained a two key design wins for its three-axis devices for a
portable navigation device and also a tablet PC. Additionally, the Company
was recently named by iSuppli as the leading supplier in 2008 of MEMS for
consumer and portable applications.
|
|
|
·
|
Also
in MEMS, ST introduced its first automotive-qualified three-axis MEMS
accelerometer, fully leveraging its strategy to bring economies of scale
from its market-leading business in consumer to new automotive and
industrial applications.
|
|
|
·
|
In
microcontrollers, ST further extended options of its breakthrough 32-bit
STM32 ARM Cortex-M3 based MCUs with devices offering 16-Kbyte Flash
densities as well as a complete series integrating full-speed USB
peripherals. ST also introduced a DSP library for the STM32, allowing
developers to take full advantage of the MCU to host signal processing and
control functions on the same core. Also in Q4, the STM32 was acclaimed
with the winning of 2008 Best Product Award from EDN
China.
|
|
|
·
|
In
smartcards, ST introduced a number of products, including two advanced
32-bit families, the ST32 and ST33, which are based on the ARM Cortex M3
and its highly secure SC300 version for mobile-phone SIM cards. These new
products offer features that will allow mobile network operators to
enhance differentiation and expand revenue growth by delivering richer
services to subscribers. ST also introduced a smartcard IC for secure
identity cards supporting the latest cryptography techniques, contact and
contactless interfaces and a large memory for biometric data. The device
meets International Civil Aviation Organization requirements for Machine
Readable Travel Documents.
|
|
|
·
|
ST
and LG used Cartes 2008 to demonstrate an NFC (Near Field Communication)
mobile phone, which uses ST’s ST21NFCA chip. LG’s KU380-NFC phone features
Paypass contactless payment capabilities enabled by a (U)SIM card, as well
as contactless reader functions.
|
|
|
·
|
In
powerline applications, ST announced an agreement with Arkados to develop
and manufacture a best-in-class 200-Mbps HomePlug AV ‘wideband’ powerline
modem SoC. In the ‘narrowband’ market, modules based on ST’s highly
integrated powerline transceiver ICs are to be deployed in the largest
Automatic Meter Reading project in China. The metering system will
remotely collect and manage consumption of water, gas, heat and
electricity in more than one million households across
China.
|
|
|
·
|
In
power conversion, ST has already received orders for its first 600V Power
Schottky devices that use silicon carbide (SiC) technology, helping
designers to increase power density and strongly reduce power losses in
energy converters. ST also enlarged its ESD protection device portfolio
with extremely small footprints of 0.18 sq-mm and ultra-low-capacitance
devices that meet USB, DVI, HDMI and SATA standards. Suited for 1 or 2
data lines, these new components provide flexibility to portable telecom,
consumer and computer application
designers.
|
|
|
·
|
In
analog linear ICs, ST announced new devices aimed at mobile phone and
portable consumer products, including a new device that combines an analog
switch and 1.6W class-D audio amplifier IC to simplify board design and
save space, and a new video buffer IC offering a low operating current and
the lowest standby current among comparable devices. Also in linear and
interface ICs, ST gained multiple design wins in various markets,
including set-top boxes and mobile
handsets.
|
|
|
·
|
In
analog and logic ICs, ST launched a watchdog timer offering a chip-enable
input to prevent automatic reset generation during in-system programming
or boot-up.
|
|
|
|
ST
also designed-in clock-distribution ICs at three major mobile handset
makers and an analog temperature sensor with a major telecom company in
China. And design wins in advanced analog included a 3-to-1 HDMI switch
for an LCD HDTV from a major consumer OEM in Japan, and a significant win
with a leading maker in Korea for a range of value-priced consumer
products.
|
|
|
·
|
In
discrete semiconductors, ST achieved a myriad of design wins, including:
MDmesh II-based power MOSFETs for a solar-panel application; 1200V IGBTs
to be used in a UPS application; bipolar transistors for a leading printer
maker; production ramp up of a UHF RF power chip for use in a
public-safety mobile radio application; and a worldwide leader in
UPS qualified a 600V hyper-fast IGBT for a
new platform.
|
|
|
·
|
ST-NXP
Wireless ramped up production of a 3G cellular platform at a tier-one
customer. Additionally, its GSM/GPRS solutions continued to ramp-up
in high-volume at major OEMs and were designed-in at leading module
makers.
|
|
|
·
|
ST-NXP
Wireless announced mass production of the world’s first 3G Unlicensed
Mobile Access (UMA) chipset platform, paving the way for a new range of
converged fixed and mobile phones with enhanced multimedia capabilities.
The Cellular System Solution 7210 UMA is the first product of its kind
that combines UMA and 3G technology in a single solution, enabling 3G
mobile phones to switch from cellular to WiFi networks, without breaking
the call, allowing users to make cheaper calls and conserve their cellular
airtime minutes.
|
|
|
·
|
ST-NXP
Wireless is ramping-up a high-performance audio device for mobile music
applications with a leading mobile phone maker. The STw5210 provides
outstanding audio quality coupled with longer music playing time thanks to
its innovative ‘Playback Time Extender’ (PTE)
technology.
|
|
|
·
|
ST
became the first European company to join the Microsystems Industrial
Group (MIG) industry consortium at the Microsystems Technology
Laboratories (MTL), Massachusetts Institute of Technology. The MIG is an
exclusive industry consortium that was founded in the 1980s to support the
Microsystems Technology Laboratories infrastructure and provide direction
to the MTL research and educational
objectives.
|
|
|
·
|
ST
and INRIA, the French national institute for research in computer science
and control, signed a strategic partnership agreement covering
next-generation embedded systems. ST and INRIA will identify areas of
research to address complex technological needs, enabling them to
anticipate and respond to the challenges ahead with solutions shaped by
real industry requirements.
|
|
·
|
the current economic downturn
and ongoing uncertainty in global economic conditions may lead to a
further decline in consumer demand in the face of tighter credit and
negative financial news. Consequently, demand for our products could be
different from our expectations due to factors such as changes in business
and economic conditions, the impact on demand for semiconductor products
in the key application markets and from key customers served by our
products, and changes in customer order patterns including order
cancellations, all of which make it extremely difficult to accurately
forecast and plan future business
activities;
|
|
·
|
our ability to adequately
utilize and operate our manufacturing facilities at sufficient levels to
cover fixed operating costs particularly at a time of decreasing demand
for our products due to decline in demand for semiconductor
products;
|
|
·
|
pricing pressures which are
highly variable and difficult to
predict;
|
|
·
|
the results of actions by our
competitors, including new product offerings and our ability to react
thereto;
|
|
·
|
the financial impact of
obsolete or excess inventories if actual demand differs from our
anticipations;
|
|
·
|
the impact of
intellectual-property claims by our competitors or other third parties,
and our ability to obtain required licenses on reasonable terms and
conditions;
|
|
·
|
the outcome of ongoing
litigation as well as any new litigation to which we may become a
defendant;
|
|
|
·
|
the current volatility in the
financial markets and overall economic uncertainty increases the risk that
the actual amounts realized in the future on our debt and equity
investments will differ significantly from the fair values currently
assigned to them;
|
|
|
·
|
we hold significant
non-marketable equity investments in the flash memory market segment
through Numonyx, as well as through our current and planned joint venture
in the wireless segment; declines in these market segments could result in
significant impairment charges, restructuring charges as well as
gains/losses on equity
investments;
|
|
|
·
|
our ability to execute
successfully our plan to close during the first quarter of 2009 the merger
of ST-NXP Wireless with Ericsson Mobile
Platforms;
|
|
|
·
|
the effects of hedging, which
we practice in order to minimize the impact of variations between the U.S.
dollar and the currencies of the other major countries in which we have
our operating infrastructure in the currently very volatile currency
environments;
|
|
|
·
|
our ability to manage in an
intensely competitive and cyclical industry, where a high percentage of
our costs are fixed, incurred in currencies other than US
dollars;
|
|
|
·
|
our ability to restructure in
accordance with our plans if unforeseen events require adjustments or
delays in implementation;
|
|
|
·
|
our ability in an intensively
competitive environment to secure customer acceptance and to achieve our
pricing expectations for high-volume supplies of new products in whose
development we have been, or are currently,
investing;
|
|
|
·
|
the ability of our suppliers
to meet our demands for supplies and materials and to offer competitive
pricing;
|
|
|
·
|
significant differences in the
gross margins we achieve compared to expectations, based on changes in
revenue levels, product mix and pricing, capacity utilization, variations
in inventory valuation, excess or obsolete inventory, manufacturing
yields, changes in unit costs, impairments of long-lived assets (including
manufacturing, assembly/test and intangible assets), and the timing,
execution and associated costs for the announced transfer of manufacturing
from facilities designated for closure and associated costs, including
start-up costs;
|
|
|
·
|
changes in the economic,
social or political environment, including military conflict and/or
terrorist activities, as well as natural events such as severe weather,
health risks, epidemics or earthquakes in the countries in which we, our
key customers and our suppliers, operate;
and
|
|
|
·
|
changes in our overall tax
position as a result of changes in tax laws or the outcome of tax audits,
and our ability to accurately estimate tax credits, benefits, deductions
and provisions and to realize deferred tax
assets.
|
|
Consolidated
Statements of Income
|
||
|
(in millions
of U.S. dollars, except per share data ($))
|
||
|
Three
Months Ended
|
||
|
(Unaudited)
|
(Unaudited)
|
|
|
December
31,
|
December
31,
|
|
|
2008
|
2007
|
|
|
Net
sales
|
2,264
|
2,733
|
|
Other
revenues
|
12
|
9
|
|
NET
REVENUES
|
2,276
|
2,742
|
|
Cost of
sales
|
-1,454
|
-1,731
|
|
GROSS
PROFIT
|
822
|
1,011
|
|
Selling,
general and administrative
|
-304
|
-295
|
|
Research and
development
|
-572
|
-480
|
|
Other income
and expenses, net
|
6
|
28
|
|
Impairment,
restructuring charges and other related closure costs
|
-91
|
-279
|
|
Total
Operating Expenses
|
-961
|
-1,026
|
|
OPERATING
LOSS
|
-139
|
-15
|
|
Other-than-temporary
impairment charge on financial assets
|
-55
|
-46
|
|
Interest
income, net
|
3
|
25
|
|
Earnings
(loss) on equity investments
|
-204
|
2
|
|
Gain on
financial assets
|
15
|
0
|
|
LOSS BEFORE INCOME
TAXES
AND MINORITY
INTERESTS
|
-380
|
-34
|
|
Income tax
benefit
|
9
|
55
|
|
INCOME
(LOSS) BEFORE MINORITY INTERESTS
|
-371
|
21
|
|
Minority
interests
|
5
|
-1
|
|
NET
INCOME (LOSS)
|
-366
|
20
|
|
EARNINGS
(LOSS) PER SHARE (BASIC)
|
-0.42
|
0.02
|
|
EARNINGS
(LOSS) PER SHARE (DILUTED)
|
-0.42
|
0.02
|
|
NUMBER
OF WEIGHTED AVERAGE
SHARES
USED IN CALCULATING
DILUTED
INCOME (LOSS) PER SHARE
|
878.1 | 904.2 |
|
Consolidated
Statements of Income
|
||
|
(in millions
of U.S. dollars, except per share data ($))
|
||
|
Twelve
Months Ended
|
||
|
(Unaudited)
|
(Audited)
|
|
|
December
31,
|
December
31,
|
|
|
2008
|
2007
|
|
|
Net
sales
|
9,792
|
9,966
|
|
Other
revenues
|
50
|
35
|
|
NET
REVENUES
|
9,842
|
10,001
|
|
Cost of
sales
|
-6,282
|
-6,465
|
|
GROSS
PROFIT
|
3,560
|
3,536
|
|
Selling,
general and administrative
|
-1,187
|
-1,099
|
|
Research and
development
|
-2,152
|
-1,802
|
|
Other income
and expenses, net
|
62
|
48
|
|
Impairment,
restructuring charges and other related closure costs
|
-481
|
-1,228
|
|
Total
Operating Expenses
|
-3,758
|
-4,081
|
|
OPERATING
LOSS
|
-198
|
-545
|
|
Other-than-temporary
impairment charge on financial assets
|
-138
|
-46
|
|
Interest
income, net
|
51
|
83
|
|
Earnings
(loss) on equity investments
|
-553
|
14
|
|
Gain on
financial assets
|
15
|
0
|
|
LOSS BEFORE INCOME
TAXES
AND MINORITY
INTERESTS
|
-823
|
-494
|
|
Income tax
benefit
|
43
|
23
|
|
LOSS
BEFORE MINORITY INTERESTS
|
-780
|
-471
|
|
Minority
interests
|
-6
|
-6
|
|
NET
LOSS
|
-786
|
-477
|
|
LOSS
PER SHARE (BASIC)
|
-0.88
|
-0.53
|
|
LOSS
PER SHARE (DILUTED)
|
-0.88
|
-0.53
|
|
NUMBER OF WEIGHTED
AVERAGE
SHARES USED IN
CALCULATING
DILUTED LOSS PER
SHARE
|
892.0
|
898.7
|
|
STMicroelectronics
N.V.
|
|||||
|
CONSOLIDATED
BALANCE SHEETS
|
|||||
|
As
at
|
December
31,
|
September
27,
|
December
31,
|
||
|
In
millions of U.S. dollars
|
2008
|
2008
|
2007
|
||
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
|||
|
ASSETS
|
|||||
|
Current
assets:
|
|||||
|
Cash
and cash equivalents
|
1,009
|
868
|
1,855
|
||
|
Marketable
securities
|
651
|
726
|
1,014
|
||
|
Trade
accounts receivable, net
|
1,064
|
1,520
|
1,605
|
||
|
Inventories,
net
|
1,840
|
1,787
|
1,354
|
||
|
Deferred
tax assets
|
233
|
252
|
205
|
||
|
Assets
held for sale
|
0
|
0
|
1,017
|
||
|
Receivables
for transactions performed on behalf, net
|
0
|
72
|
|||
|
Other
receivables and assets
|
685
|
694
|
612
|
||
|
Total
current assets
|
5,482
|
5,919
|
7,662
|
||
|
Goodwill
|
958
|
1,030
|
290
|
||
|
Other
intangible assets, net
|
863
|
904
|
238
|
||
|
Property,
plant and equipment, net
|
4,739
|
5,065
|
5,044
|
||
|
Long-term
deferred tax assets
|
373
|
370
|
237
|
||
|
Equity
investments
|
510
|
691
|
0
|
||
|
Restricted
cash
|
250
|
250
|
250
|
||
|
Non-current
marketable securities
|
242
|
297
|
369
|
||
|
Other
investments and other non-current assets
|
477
|
458
|
182
|
||
|
8,412
|
9,065
|
6,610
|
|||
|
Total
assets
|
13,894
|
14,984
|
14,272
|
||
|
LIABILITIES
AND SHAREHOLDERS’ EQUITY
|
|||||
|
Current
liabilities:
|
|||||
|
Bank
overdrafts
|
20
|
||||
|
Current
portion of long-term debt
|
123
|
63
|
103
|
||
|
Trade
accounts payable
|
847
|
1,156
|
1,065
|
||
|
Other
payables and accrued liabilities
|
996
|
1,165
|
744
|
||
|
Dividends
payable to shareholders
|
79
|
163
|
0
|
||
|
Deferred
tax liabilities
|
28
|
19
|
11
|
||
|
Accrued
income tax
|
106
|
142
|
154
|
||
|
Total
current liabilities
|
2,199
|
2,708
|
2,077
|
||
|
Long-term
debt
|
2,554
|
2,487
|
2,117
|
||
|
Reserve
for pension and termination indemnities
|
332
|
301
|
323
|
||
|
Long-term
deferred tax liabilities
|
27
|
109
|
14
|
||
|
Other
non-current liabilities
|
350
|
323
|
115
|
||
| 3,263 | 3,220 | 2,569 | |||
|
Total
liabilities
|
5,462
|
5,928
|
4,646
|
||
|
Commitment
and contingencies
|
|||||
|
Minority
interests
|
276
|
290
|
53
|
||
|
Common
stock (preferred stock:
540,000,000 shares authorized, not issued;
|
1,156
|
1,156
|
1,156
|
||
|
common
stock: Euro 1.04 nominal value, 1,200,000,000 shares authorized,
910,307,305 shares
|
|||||
|
issued,
874,276,833 shares outstanding)
|
|||||
|
Capital
surplus
|
2,324
|
2,311
|
2,097
|
||
|
Accumulated
result
|
4,064
|
4,444
|
5,274
|
||
|
Accumulated
other comprehensive income
|
1,094
|
1,276
|
1,320
|
||
|
Treasury
stock
|
-482
|
-421
|
-274
|
||
|
Shareholders’
equity
|
8,156
|
8,766
|
9,573
|
||
|
Total
liabilities and shareholders’ equity
|
13,894
|
14,984
|
14,272
|
||
| STMicroelectronics N.V. | |||
|
Date:
January 28, 2009
|
By:
|
/s/ CARLO FERRO | |
| Name: |
Carlo
Ferro
|
||
| Title: | Executive Vice President and | ||
| Chief Financial Officer | |||