Siemens 2009 Annual Report Download - page 238

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 Reports Supervisory Board /
Managing Board  Corporate Governance  Management’s discussion and analysis  Consolidated Financial Statements
 Consolidated Statements of Income  Consolidated Statements of Income
and Expense Recognized in Equity
 Consolidated Balance Sheets  Consolidated Statements of Cash Flow
Siemens tests at least annually whether goodwill suffered any
impairment, in accordance with the accounting policy stated
in Note 2 and 3. Key assumptions on which management has
based its determinations of the fair value less costs to sell for
the divisions’ carrying amount include growth rates up to 3%
in fiscal 2009 and 2008, respectively and after-tax discount
rates of 7.5% to 8.5% in fiscal 2009 and 7.5% to 9% in fiscal
2008. Where possible, reference to market prices is made.
In fiscal 2008, acquisitions and purchase accounting adjust-
ments relate primarily to Healthcare’s acquisition of Dade Beh-
ring (see Note 4). The purchase accounting adjustments in the
Industry Sector amounting to €103 relate to the UGS transac-
tion (see Note 4). Impairment of goodwill of €(70) relates to the
buildings and infrastructure activities of VA Technologie AG,
which was presented in Other Operations.
Net book
value as of
//
Translation
differences
and other
Acquisitions
and purchase
accounting
adjustments 1
Dispositions
and reclassi-
fications to
Assets classified
as held for
disposal
Impairments Net book
value as of
//
Sectors
Industry 4,8942(111) 168 (13) (13) 4,925
Energy 2,240 (63) 47 (16) – 2,208
Healthcare 8,617 (156) 15 – – 8,476
Cross-Sector Businesses
Siemens IT Solutions and Services 123 (10) 2 – – 115
Siemens Financial Services (SFS) 111 (14) – – – 97
Other Operations 192– – – (19) –
Siemens 16,004 (354) 232 (29) (32) 15,821
1 Includes adjustments from the subsequent recognition of deferred tax assets.
2 Electronics Assembly Systems was reclassified from Industry to Other Operations in fiscal 2009. Prior-year amounts were adjusted for comparison purposes.
B27T032_E
B27T033_E
Net book
value as of
10/1/2007
Translation
differences
and other
Acquisitions
and purchase
accounting
adjustments 1
Dispositions
and reclassi-
fications to
Assets classified
as held for
disposal
Impairments Net book
value as of
9/30/2008
Sectors
Industry4,739 (48) 233 (17) – 4,907
Energy 2,210 (55) 85 – – 2,240
Healthcare 5,197 7 3,413 – – 8,617
Cross-Sector Businesses
Siemens IT Solutions and Services 129 (9) 3 – – 123
Siemens Financial Services (SFS) 126 (15) – – – 111
Other Operations 100 1 – (17) (78) 6
Siemens 12,501 (119) 3,734 (34) (78) 16,004
1 Includes adjustments from the subsequent recognition of deferred tax assets.