Siemens 2006 Annual Report Download - page 249
Download and view the complete annual report
Please find page 249 of the 2006 Siemens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239 -
240 -
241 -
242 -
243 -
244 -
245 -
246 -
247 -
248 -
249 -
250 -
251 -
252 -
253 -
254 -
255 -
256 -
257 -
258 -
259 -
260
 |
 |
International Financial Reporting Standards
(in millions of €) 245
i. Deferred taxes
The adjustments as described above resulted in additional differences between the carrying
amount of assets and liabilities in the Consolidated Financial Statements and their tax basis.
Deferred taxes were recognized on temporary differences, with differences in pension
accounting between U.S. GAAP and IFRS having the most significant impact.
This reconciling item also includes tax effects resulting from differences in accounting for
income taxes between U.S. GAAP and IFRS. For the Company, such effects mainly result from
calculating deferred taxes on elimination of intragroup profits. According to IFRS, deferred
taxes on intragroup profit elimination are calculated with reference to the tax rate of the
acquiring company whereas, under U.S. GAAP, the tax rate in the seller’s or manufacturer’s
jurisdiction is used.
3Assets held for disposal and discontinued operations
According to IFRS, a discontinued operation is a component of an entity that either has been
disposed of, or is classified as held for sale. Under U.S. GAAP, the results of operations of a com-
ponent of an entity that either has been disposed of or is classified as held for sale shall be
reported in discontinued operations if the operations and cash flows have been (or will be)
eliminated from the ongoing operations of the entity as a result of the disposal transaction
and the entity will not have any significant continuing involvement in the operations of the
component after the disposal transaction.
The results and financial position of the carrier-related business and the enterprise net-
works business have been presented as discontinued operations under IFRS. These businesses
are not presented as discontinued operations under U.S. GAAP due to Siemens’ anticipated
continuing involvement in the carrier-related business and the enterprise networks business
and therefore have been presented as continuing activities in Siemens’ Consolidated Financial
Statements under U.S. GAAP.