Siemens 2011 Annual Report Download - page 198

6 A. To our shareholders
23 B. Corporate Governance 51 C. Combined management’s discussion and analysis
52 C. Business and operating environment
80 C. Fiscal  – Financial summary
83 C. Results of operations
101 C.4 Financial position
114 C.5 Net assets position
117 C.6 Overall assessment of the economic position
118 C.7 Report on post-balance sheet date events
119 C.8 Report on expected developments and
associated material opportunities and risks
135 C.9 Information required pursuant to Section 289 (4)
and Section  () of the German Commercial
Code (HGB) and explanatory report

For the fiscal years ended September ,  and 
Profit ,  Income (loss) from
investments accounted
for using the equity
method, net 
(in millions of €)    
Sectors and Divisions
Industry Sector 3,618 2,658 37 13
Industry Automation 1,415 1,004 7(2)
Drive Technologies 1,087 803 3(1)
Building Technologies 409 401 77
Industry Solutions 276 (10) 94
Mobility 429 463 11 5
Energy Sector 4,141 3,361 12 78
Fossil Power Generation 2,833 1,445 33 27
Renewable Energy (2) 343 (57) 9
Oil & Gas 467 455 – –
Power Transmission 562 715 35 36
Power Distribution 286 398 16
Healthcare Sector 1,334 653 93
therein: Diagnostics 300 (804) – (9)
Total Sectors 9,093 6,673 58 93
Equity Investments (26) (191) (44) (248)
Financial Services (SFS) 428 443 92 130
Reconciliation to Consolidated Financial Statements
Centrally managed portfolio activities (40) (169) 12 14
Siemens Real Estate (SRE) 150 250 – –
Corporate items and pensions (273) (702) – –
Eliminations, Corporate Treasury and other reconciling items (90) (331) 29 20
Siemens 9,242 5,974 147 9
1 Profit of the Sectors and Divisions as well as of Equity Investments and Centrally managed portfolio activities is earnings before financing interest, certain pension costs and income taxes.
Certain other items not considered performance indicative by Management may be excluded. Profit of SFS and SRE is Income before income taxes. Profit of Siemens is Income from
continuing operations before income taxes. For a reconciliation of Income from continuing operations before income taxes to Net income see Consolidated Statements of Income.
2 Beginning with fiscal , central infrastructure costs which were formerly reported in Corporate items will be allocated primarily to the Sectors. The total amount to be allocated is
determined at the beginning of the fiscal year and is charged in set portions in all four quarters. Presentation of prior-year information has been adjusted to conform to the current-year
presentation.
3 Includes impairments and reversals of impairments of investments accounted for using the equity method.
The following table gives additional information on topics in-
cluded in Profit and Income before income taxes and provides
a reconciliation to adjusted EBITDA based on continuing oper-
ations. We report adjusted EBIT and adjusted EBITDA as a per-
formance measure. The closest comparable GAAP figure un-
der IFRS is Net income as reported in our “Consolidated State-
ments of Income.” For further information regarding adjusted
EBIT and adjusted EBITDA, please see
C.4 Notes and for-
ward-looking statements.
C.. Reconciliation to adjusted EBITDA (continuing operations)