Siemens 2010 Annual Report Download - page 301

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

resulted in net gains related to valuation allowances totaling
€ and net losses related to valuation allowances totaling €,
respectively. As of September ,  and , valuation al-
lowances amount to € and €, respectively.
As of September ,  and , guarantees to joint ven-
tures and associates amount to €, and €,, respec-
tively, including the HERKULES obligations of €, and
€,, respectively. For information regarding the HERKULES
obligations as well as for information regarding guarantees in
connection with the contribution of the carrier related opera-
tions into NSN and the SEN operations into EN see Note 
Commitments and contingencies. As of September , 
and , guarantees to joint ventures amount to € and
€, respectively. As of September ,  and , the
Company has commitments to make capital contributions of
€ and € to its joint ventures and associates, therein €
and €– related to joint ventures, respectively. For further infor-
mation see Note  Commitments and contingencies.
Pension entities
For information regarding the funding of our principal pension
plans refer to Note . In fiscal , a liability from continuing
lease involvement related to a previous sale and lease back
transaction with entities controlled by the Siemens Pension-
Trust e.V. was derecognized. For further information please
refer to Note .
Related individuals
Related individuals include the members of the Managing
Board and Supervisory Board.
In fiscal  and  members of the Managing Board re-
ceived cash compensation of €. and €.. The fair value of
stock-based compensation amounted to €. and €., re-
spectively in fiscal  and . In fiscal  and , the
Company granted contributions under the BSAV to members of
the Managing Board totaling €. and €..
Therefore in fiscal  and , compensation and benefits,
attributable to members of the Managing Board amounted to
€. and €. in total, respectively.
In fiscal  and , expense related to share-based pay-
ment and to the Share Matching Program amounted to €.
and €., respectively. For further information regarding the
Share Matching Program, see Note .
In addition, in fiscal  a post-contractual non-compete
agreement was signed with a former member of the Managing
Board that is effective for a period of  months beginning on
December , . As compensation for this, a total amount of
U.S.$,, (approximately €.) will be paid. Of this total,
he received U.S.$,, as a one-time payment in December
; the rest will be paid in monthly installments of
U.S.$, each.
Compensation attributable to members of the Supervisory
Board comprises fixed-compensation, short-term variable com-
pensation and long-term variable compensation. In fiscal 
and , compensation, attributable to members of the Su-
pervisory Board amounted to €. and €. in total, therein
€. and €. related to long-term variable compensation, re-
spectively.
The Compensation Report outlines the principles used for de-
termining the compensation of the Managing Board of
Siemens AG and sets out the level and structure of Managing
Board remuneration. In addition, the report describes the poli-
cies and levels of compensation paid to Supervisory Board
members. The Compensation Report, which is part of the
Notes to Consolidated Financial Statements, is presented
within the Corporate Governance Report, included in this An-
nual Report for fiscal year .
In fiscal  and , no other major transactions took place
between the Company and the other members of the Manag-
ing Board and the Supervisory Board.
In addition, some of the members of the Company ’s Supervi-
sory Board and Managing Board hold positions of significant
responsibility with other entities. Siemens has relationships
with almost all of these entities in the ordinary course of busi-
ness whereby the Company buys and sells a wide variety of
products and service on arm’s length terms. Dr. Josef Acker-
mann is the Chairman of the Management Board of Deutsche
Bank AG. The Company ’s transactions with Deutsche Bank AG
are conducted on arm’s length basis and include securities
underwriting, other investment banking services, and credit,
money market and foreign exchange business as well as trans-
action banking services. Michael Diekmann is the Chairman of
the Board of Management of Allianz SE. Our transactions with
Allianz SE are conducted on arm’s length basis and include
insurance business and asset management.