Siemens 2010 Annual Report Download - page 277

147 Consolidated Financial Statements
148 Consolidated Statements of Income
149 Consolidated Statements of Comprehensive Income
150 Consolidated Statements of Financial Position
151 Consolidated Statements of Cash Flow
152 Consolidated Statements of Changes in Equity
154 Notes to Consolidated Financial Statements
(in millions of €, except where otherwise stated
and per share amounts)
261 Additional information

, the High Court granted a stay of the proceedings pend-
ing before it until three months after the outcome of the ap-
peal to the European Court of First Instance and any subse-
quent appeals to the European Court of Justice. On June ,
, the Siemens defendants filed their answers to the com-
plaint and requested National Grid’s claim to be rejected. Dis-
covery is ongoing.
As previously reported, the South African Competition Com-
mission investigated alleged antitrust violations in the market
of high-voltage gas-isolated switchgear. In May , the Com-
pany was notified that the Competition Commission will not
pursue the prosecution of this matter.
As previously reported, a suit and motion for approval of a class
action was filed in Israel in December  to commence a
class action based on the fines imposed by the European Com-
mission for alleged antitrust violations in the high-voltage
gas-insulated switchgear market. Thirteen companies were
named as defendants in the suit and motion, among them
Siemens AG Germany, Siemens AG Austria and Siemens Israel
Ltd. The class action alleged damages to electricity consumers
in Israel in the amount of approximately € related to higher
electricity prices claimed to have been paid because of the al-
leged antitrust violations. At a hearing on December , ,
the plaintiff requested to withdraw from the action and from
the motion to certify the action as a class action. The court
approved the request and dismissed the action and the motion
to certify.
In January , the European Commission launched an inves-
tigation related to previously reported investigations into po-
tential antitrust violations involving producers of flexible cur-
rent transmission systems in New Zealand and the USA includ-
ing, among others, Siemens AG. In April , authorities in
Korea and Mexico informed the Company that similar proceed-
ings had been initiated. Siemens AG is cooperating with the
authorities. On June , , the New Zealand Commerce Com-
mission notified Siemens AG that their investigation had been
closed. On September , , the European Commission noti-
fied Siemens AG that their investigation had been closed. On
November , , the Korean antitrust authority notified
Siemens AG that their investigation had been closed.
On February , , the Italian Antitrust Authority searched
the premises of several healthcare companies, including
Siemens Healthcare Diagnostics S.r.l. and Siemens S.p.A., in
response to allegations of anti-competitive agreements relat-
ing to a  public tender process for the supply of medical
equipment to the procurement entity for the public healthcare
sector in the Italian region of Campania, So.Re.Sa. Siemens is
cooperating with the authority.
Other proceedings
As previously reported, starting in December , the Com-
pany and Qisda Corp. (formerly named BenQ Corp.), a Taiwan-
ese company, were parties in an arbitration proceeding before
the International Chamber of Commerce (ICC) relating to the
purchase by Qisda of the Company ’s mobile devices business
in . The parties subsequently resolved their disputes and,
upon joint request of the parties, the ICC issued an Award by
Consent in March .
On November , , Siemens AG and the insolvency admin-
istration of BenQ Mobile GmbH & Co. OHG announced that
they had reached a settlement after constructive discussions
that began in . In the settlement agreement, Siemens AG
agreed to a gross payment of €, which was made in Decem-
ber . However, ultimately, the settlement is expected to
result in a total net payment of approximately € after taking
into account the claims against the debtor’s estate, which were
filed by Siemens AG and acknowledged by the insolvency ad-
ministrator. Since Siemens AG had made sufficient provisions
for the expected settlement, the settlement did not have a
material negative impact on Siemens AG’s results of operations
for fiscal .
As previously reported, Siemens AG is a member of a supplier
consortium that has contracted to construct the nuclear power
plant “Olkiluoto ” in Finland for Teollisuuden Voima Oyj (TVO)
on a turnkey basis. Siemens AG’s share of the consideration to
be paid to the supplier consortium under the contract is ap-
proximately  percent. The other member of the supplier
consortium is a further consortium consisting of Areva NP
S.A.S. and its wholly-owned subsidiary, Areva NP GmbH. The
agreed completion date for the nuclear power plant was April
, . Completion of the power plant has been delayed for
reasons which are in dispute. In December , the supplier
consortium filed a request for arbitration against TVO demand-
ing an extension of the construction time, additional compen-
sation and damages in the amount of now approximately €.
billion. TVO rejected the demand for an extension of time and
made counterclaims against the supplier consortium. These
consist primarily of damages due to the delay, claimed to
amount to approximately €. billion based on estimated
completion of the plant in June  with a delay of  months.
Assuming the full cooperation of all parties involved, nuclear
fuel is expected to be loaded into the reactor at the end of 