Nokia 2007 Annual Report Download - page 177
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8. Acquisitions (Continued)
Net sales, EUR million
January
March
April
December Total
January
March
April
December Total
2007 2006
Nokia Networks .................. 1697 * 1697 1699 5754 7453
Nokia Siemens Networks ........... * 11696 11696 N/A N/A N/A
Total ........................... 1697 11696 13393 1699 5754 7453
Operating profit, EUR million
January
March
April
December Total
January
March
April
December Total
2007 2006
Nokia Networks . . . ................. 78 * 78 149 659 808
Nokia Siemens Networks ............. * (1386) (1386) N/A N/A N/A
Total ............................. 78 (1386) (1308) 149 659 808
*
No results presented as Nokia Siemens Networks began operations on April 1, 2007
It is not practicable to determine the results of the Siemens’ carrierrelated operations for three
month period of January 1, 2007 through March 31, 2007 as Siemens did not report those operations
separately. As a result pro forma revenues and operating profit as if the acquisition had occurred as of
January 1, 2007 have not been presented.
The following table summarizes the estimated fair values of the assets acquired and liabilities
assumed at the date of acquisition.
Carrying Amount Fair Value Useful lives
EURm EURm
Intangible assets subject to amortization:
Customer relationships................................ — 1290 6years
Developed technology ................................ — 710 4years
License to use trade name and trademark ................ — 350 5years
Capitalized development costs .......................... 143 154 3years
Other intangible assets ............................... 47 47 35years
190 2 551
Property, plant & equipment ........................... 371 344
Deferred tax assets ................................... 111 181
Other noncurrent assets .............................. 153 153
Noncurrent assets ................................... 825 3229
Inventories ......................................... 1010 1138
Accounts receivable .................................. 3135 3087
Prepaid expenses and accrued income ................... 870 846
Other financial assets ................................. 55 55
Bank and cash ...................................... 382 382
Current Assets ....................................... 5452 5508
Total assets acquired ................................ 6 277 8 737
F34
Notes to the Consolidated Financial Statements (Continued)