Siemens 2008 Annual Report Download - page 235

Notes to Consolidated Financial Statements 139
(in millions of €, except where otherwise stated and per share amounts)
The assets and liabilities of SEN (and also certain amounts relating to the carrier-related operations) are pre-
sented as held for disposal on the balance sheet as of September 30, 2007 and measured at the lower of their
carrying amount and fair value less costs to sell. As of September 30, 2007 the carrying amounts of the major
classes of assets and liabilities were as follows:
The net results of discontinued operations presented in the Consolidated Statements of Income reecting the
former Com activities consist of the following components:
Discontinued operations in scal 2008 and 2007 include charges pursuant to the terms of the MD disposal trans-
action, including substantial effects stemming from the insolvency of BenQ Mobile GmbH & Co. OHG, Germany.
In scal 2008, the loss on disposal of the SEN business was substantially non tax deductible. The income tax
benet from ordinary activities for scal year 2007 is impacted by goodwill impairment and tax reserves. The
carve-out of the Com business is mainly tax-free.
September 30,
2007
Cash and cash equivalents* 750
Trade and other receivables 572
Inventories 246
Goodwill –
Property, plant and equipment 6
Other nancial assets 265
Other assets 281
Assets classified as held for disposal 2,120
Trade payables 388
Current provisions 67
Pension plans and similar commitments 148
Payroll and social security taxes 101
Other liabilities 694
Liabilities associated with assets classified as held for disposal 1,398
* As of September 30, 2007, this caption also includes a portion still related to the carrier-related operations.
Year ended
September 30,
2008 2007
Revenue 3,155 7,576
Costs and expenses (3,592) (8,086)
Loss on measurement to fair value less costs to sell (88) (567)
Gain (loss) related to the contribution of the carrier-related operations to NSN (12) 1,627
Loss on disposal of the SEN business (1,015) –
Income (loss) from discontinued operations before income taxes (1,552) 550
Income taxes corresponding to ordinary activities including the measurement
to fair value less costs to sell 59 196
Income taxes corresponding to the gain (loss) related to the contribution of
the carrier-related operations to NSN 7 (67)
Income taxes corresponding to the loss related to the contribution of the
Siemens Enterprise Business to EN 53 –
Income (loss) from discontinued operations, net of income taxes (1,433) 679