Siemens 2008 Annual Report Download - page 302

206 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated and per share amounts)
Equity Investments
The previous segment Strategic Equity Investments has been renamed Equity Investments. The scope of Equity
Investments, a reportable segment with its own management, has been extended. Commencing with the fourth
quarter of scal 2008, Equity Investments contains investments accounted for under the equity method or at
cost and current available for sale nancial assets, which are not allocated to a Sector, Cross-Sector Business,
SRE, Pensions or Treasury, whereas, previously, only strategically important investments were reported in
Equity Investments. NSN, BSH and FSC (which is reported as Asset classied as held for disposal as of September
30, 2008) have already been reported in Equity Investments in previous periods. EN (see Note 4) among others,
was added in the fourth quarter of scal 2008.
Cross Sector Businesses
Siemens IT Solutions and Services
Siemens IT Solutions and Services, established in April 2007, provides information and communications ser-
vices primarily to customers in the commercial/industrial sector, in the service and healthcare industry as well
as to the public sector. Siemens IT Solutions and Services builds and operates both discrete and large-scale infor-
mation and communications systems.
Siemens Financial Services (SFS)
SFS offers a variety of nancial products and services within the Siemens Group, to Siemens customers and to
third parties.
Reconciliation to consolidated nancial statements
Reconciliation to consolidated nancial statements contains businesses and items not directly related to
Siemens’ reportable segments:
Other Operations primarily refers to operating activities not associated with a Siemens segment and certain net
assets recently acquired as part of acquisitions for which the allocation to the (groups of) cash generating units
and segments are not yet nalized. In the rst half of scal 2008, Siemens determined a course of action for
each of the activities within Other Operations and began executing corresponding measures. Options under this
transformation program include integration into Siemens businesses and services, divestment, joint venture or
closure.
Siemens Real Estate (SRE), which no longer exists as a segment, owns and manages a substantial part of Siemens’
real estate portfolio and offers a range of services encompassing real estate development, real estate disposal
and asset management, as well as lease and services management.
Corporate items and pensions include corporate charges such as personnel costs for corporate headquarters,
corporate projects and non-operating investments or results of corporate-related derivative activities. Pensions
includes the Company’s pension related income (expense) not allocated to the segments, SRE or Other Opera-
tions.