Siemens 2009 Annual Report Download - page 237


 Managing Board statements, Independent auditors’ report, Additional information
 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise
stated and per share amounts)
tion contracts were €590 and €597 in fiscal 2009 and 2008. In-
formation concerning construction contracts does not include
disposal groups.
 OTHER CURRENT ASSETS
 GOODWILL
Goodwill has changed as follows:
 OTHER CURRENT FINANCIAL ASSETS
 INVENTORIES
Costs and earnings in excess of billings on uncompleted con-
tracts relates to construction contracts with net asset balances
where contract costs plus recognized profits less recognized
losses exceed progress billings. Liabilities from contracts for
which progress billings exceed costs and recognized profits
less recognized losses are recognized in Other current liabili-
ties.
The aggregate amount of costs incurred and recognized profits
less recognized losses for construction contracts in progress
as of September 30, 2009 and 2008 amounted to €65,589 and
€54,168, respectively. Advance payments received on con-
struction contracts in progress were €8,402 and €8,895 as of
September 30, 2009 and 2008. Revenue from construction
contracts amounted to €25,401 and €24,289, respectively, for
fiscal 2009 and 2008. Retentions in connection with construc-
September 30,
2009 2008
Derivative financial instruments 1,277 593
Loans receivable 725 701
Receivables from joint ventures and associates
and other companies (defined in Note ) 77 100
Other 823 1,722
2,902 3,116
B27T028_E
September ,
 
Raw materials and supplies 2,279 2,593
Work in process 3,619 3,588
Costs and earnings in excess of billings on
uncompleted contracts 7,137 7,537
Finished goods and products held for resale 2,945 2,835
Advances to suppliers 565 794
16,545 17,347
Advance payments received (2,416) (2,838)
14,129 14,509
B27T029_E
September ,
 
Miscellaneous tax receivables 618 742
Prepaid expenses 317 322
Other 256 304
1,191 1,368
B27T030_E
Year ended September ,
2009 2008
Cost
Balance at beginning of year 16,558 13,589
Translation differences and other (366) (135)
Acquisitions and purchase accounting
adjustments 232 3,737
Adjustments from the subsequent
recognition of deferred tax assets – (3)
Dispositions and reclassifications to
Assets held for disposal (107) (630)
Balance at year-end 16,317 16,558
Accumulated impairment losses
and other changes
Balance at beginning of year 554 1,088
Translation differences and other (12) (16)
Impairment losses recognized during the
period 32 78
Dispositions and reclassifications to
Assets held for disposal (78) (596)
Balance at year-end 496 554
Net book value
Balance at beginning of year 16,004 12,501
Balance at year-end 15,821 16,004
B27T031_E