Siemens 2009 Annual Report Download - page 247


 Managing Board statements, Independent auditors’ report, Additional information
 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise
stated and per share amounts)
The Consolidated Balance Sheets include the following signifi-
cant components related to pension plans and similar commit-
ments based upon the situation as of September 30, 2009 and
2008:
Obligations under finance leases
As of September 30, 2009 and 2008, the finance lease liabilities
are as follows:
 PENSION PLANS AND SIMILAR COMMITMENTS
Pension benefits provided by Siemens are currently organized
primarily through defined benefit pension plans which cover
almost all of the Company ’s domestic employees and many of
the Company ’s foreign employees. To reduce the risk exposure
to Siemens arising from its pension plans, the Company per-
formed a redesign of some major pension plans during the last
several years towards benefit schemes which are predomi-
nantly based on contributions made by the Company. In order
to fund Siemens’ pension obligations, the Company ’s major
pension plans are funded with assets in segregated pension
entities.
Furthermore, the Company provides other post-employment
benefits, which primarily consist of transition payments to
German employees after retirement as well as post-employ-
ment health care and life insurance benefits to employees in
the U.S. and Canada. These predominantly unfunded other
post-employment benefit plans qualify as defined benefit
plans under IFRS.
September ,  September , 
Minimum
lease
payment
obligation
Un-
amortized
interest
expense
Present
value of
minimum
lease
payment
obligation
Minimum
lease
payment
obligation
Un-
amortized
interest
expense
Present
value of
minimum
lease
payment
obligation
Due
Within  year 54 9 45 63 12 51
 to  years 47 5 42 29 9 20
 to  years 15 2 13 34 7 27
 to  years 19 2 17 46 6 40
 to  years 7 2 5 22 5 17
Thereafter 77 5 72 93 15 78
Total 219 25 194 287 54 233
Less: Current portion (45) (51)
149 182
B27T052_E
September ,
 
Principal pension benefit plans 4,203 2,580
Principal other post-employment benefit plans 639 639
Other 1,096 1,142
Liabilities for pension plans
and similar commitments 5,938 4,361
Prepaid costs for post-employment benefits 49 99
Actuarial (losses)/gains (3,141) (1,577)
Effects in connection with asset ceiling (139) (14)
Income tax effect 425 (16)
Net amount recognized in the
Consolidated Statements of Income and
Expense recognized in Equity (net of tax) (2,855) (1,607)
B27T053_E