Siemens 2009 Annual Report Download - page 231

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 Managing Board statements, Independent auditors’ report, Additional information
 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise
stated and per share amounts)
GmbH & Co. KG (KMW) the two latter totaling €195 and €242
in fiscal 2009 and 2008, respectively (see also Note 4 and
Note 19).
Investments in associates and in jointly controlled entities are
tested for impairment if there is an indication that the invest-
ment may be impaired. In the three months ended September
30, 2009, NSN, presented in the segment Equity Investments,
was tested for impairment. The main triggering events were
NSN’s loss of market share as well as a decrease in the product
business operations resulting in significantly adjusted finan-
cial forecasts of future cash flows of NSN. The NSN impairment
test is based on fair value less costs to sell applying a dis-
counted cash flow method. As a result, an impairment loss of
€1,634 was recognized in Income (loss) from investments ac-
counted for using the equity method.
Reversals of impairment of €51 relates to an impairment in a
previous year of an investment held by SFS, which was re-
versed in fiscal 2009 as a result of a recovery of our expected
future results from that investment.
For further information on the Company ’s principal invest-
ments accounted for under the equity method see Note 19.
 FINANCIAL INCOME (EXPENSE), NET
Other in fiscal 2009 includes fees for outside advisors engaged
in connection with investigations into alleged violations of
anti-corruption laws and related matters as well as remedia-
tion activities of €95 and €53 provided for in connection with
a settlement agreement with the World Bank Group – see
Note 30 Legal Proceedings for further information.
Other in fiscal 2008, comprises €1 billion in estimated fines
(see Note 25) in connection with settlement negotiations of
legal matters with authorities in Germany and the U.S. and
€430 in fees for outside advisors engaged in connection with
investigations into alleged violations of anti-corruption laws
and related matters as well as remediation activities (see Note
30). Other in fiscal 2008 also includes €390 in connection with
a not-for-profit foundation set up by Siemens in fiscal 2008.
The foundation is aimed at sponsoring science and research,
art, educational, cultural, charitable, environmental, and other
social responsibility-related purposes. Siemens contributed
€390 in cash to the foundation in fiscal 2008. Of the €390,
€300 is to remain in the foundation and €90 shall be used to
serve the foundations’ purposes.
 INCOME (LOSS) FROM INVESTMENTS ACCOUNTED
FOR USING THE EQUITY METHOD, NET
Share of profit (loss), net includes our share in NSN’s fiscal
2009 and 2008 earnings of €(543) and €(119), respectively, our
share in EN’s fiscal 2009 and 2008 earnings of €(171) and €– ,
respectively, our share in BSH Bosch Siemens Hausgeräte
GmbH (BSH) as well as our share in Krauss-Maffei Wegmann
Year ended September ,
 
Share of profit (loss), net (392) 259
Gains (losses) on sales, net 5 1
Impairment (1,644) –
Reversals of impairment 85 –
(1,946) 260
B27T007_E
Year ended September ,
 
Income (expense) from pension plans
and similar commitments, net (227) 136
Income (expense) from available-for-sale
financial assets, net (12) 89
Interest income (expense), net 150 60
Other financial income (expense), net (421) (163)
(510)
122
B27T008_E