Siemens 2007 Annual Report Download - page 239

Notes to Consolidated Financial Statements 239
(in millions of €, except where otherwise stated and per share amounts)
Notes to Consolidated Financial Statements
In November 2005, the Company’s former operating Group, Com, sold its
remaining interest in Juniper, representing 22.8 million shares, for net proceeds
of €465. The transaction resulted in a pre-tax gain of €356, included in Income
(loss) from discontinued operations, net of income taxes.
Available-for-sale fi nancial assets classifi ed as non-current are included in
Other fi nancial assets (see also Note 19).
11 Trade and other receivables
Related companies are those in which Siemens has an ownership interest of
less than 20% and exercises no signifi cant infl uence over their operating and
fi nancial policies.
The valuation allowance on the Company’s current and long-term receivables
(see Notes 12 and 19) changed as follows:
Receivables from fi nance leases are presented in the balance sheet as follows:
Year ended
September 30,
2007 2006
Valuation allowance as of beginning of fi scal year 956 1,199
Increase in valuation allowances recorded
in the income statement in the current period 116 167
Write-offs charged against the allowance (130) (263)
Recoveries of amounts previously written-off 24 40
Foreign exchange translation differences (30) (22)
Reclassifi cation to Assets held for disposal (41) (165)
Valuation allowance as of fi scal year-end 895 956
September 30,
2007 2006
Receivables from fi nance leases, current 1,658 1,482
Receivables from fi nance leases, long-term portion 3,112 2,969
4,770 4,451
September 30,
2007 2006
Trade receivables from the sale of goods and services 12,864 13,620
Receivables from fi nance leases 1,658 1,482
Receivables from joint ventures and associated and related companies 98 46
14,620 15,148