Siemens 2011 Annual Report Download - page 215

153 D. Consolidated Financial Statements
273 E. Additional information
143 C. Additional information for supplemental
financial measures
145 C. Siemens AG (Discussion on basis of
German Commercial Code)
151 C. Notes and forward-looking statements
140 C. Information required pursuant to Section  ()
and Section  () no.  of the German Commer-
cial Code (HGB) and explanatory report
142 C. Compensation report and Corporate Governance
statement pursuant to Section a of the German
Commercial Code (HGB)

Goodwill remained nearly level at €. billion as of Sep-
tember ,  compared to €. billion a year earlier. The
net decrease in goodwill of € million in fiscal , is attrib-
utable to € million positive foreign currency adjustments,
€ million impairment related to Siemens IT Solutions and
Services, € impairment related to the solar and hydro busi-
ness of the Energy Sector, as well as to € million acquisi-
tions and purchase accounting adjustments; which is offset
by dispositions and reclassifications to held for disposal of
€ million.
The line items Other intangible assets and Property, plant and
equipment decreased by € million and €. billion, re-
spectively. The decrease is primarily due to the reclassifica-
tion of other intangible assets and property, plant and equip-
ment from OSRAM to the line item Assets classified as held
for disposal and to the divestment of Siemens IT Solutions
and Services.
Investments accounted for using the equity method increased
to €. billion as of September ,  compared to €.
billion a year earlier. The increase was due to a number of fac-
tors. The largest was € million in new equity provided to
NSN in exchange for preferred shares to further strengthen
the company ’s financial position. In addition, in the first quar-
ter of fiscal , Siemens and Nokia Corporation each con-
verted € million consisting of a shareholder loan to NSN
and deferred interest into preferred shares. We also made the
first installment payment for our equity investment in ASEA
A / S, a supplier of offshore wind park installation services.
These increases were partly offset by losses related to our
stake in NSN, by the reclassification of fund shares to the line
item Available-for-sale financial assets in connection with the
divestment of an asset management company at SFS and by
the sale of our % minority stake in KMW.
The line item Other financial assets increased to €. bil-
lion as of September ,  compared to €. billion a
year earlier. The change was due primarily to higher receiv-
ables in connection with the net growth in SFS’ commercial fi-
nance business partly offset by a decrease in the non-current
portion of the fair market values of financial derivatives used
for our hedging activities. As of September , , the line
item Other financial assets included our stake in AtoS as well
as a five-year convertible bond of € million (nominal val-
ue) received in connection with the divestment of Siemens IT
Solutions and Services. In fiscal  the € million share-
holder loan and deferred interest mentioned above in connec-
tion with NSN was reclassified to the line item Investments
accounted for using the equity method, due to the conversion
of the loan and deferred interest into preferred shares. Fur-
thermore, in fiscal  a % interest in OAO Power Machines
(PM), held by the Energy Sector, was reclassified to the line
item Assets classified as held for disposal.
The table below shows our current and long-term liabilities at
the respective balance sheet dates:
(in millions of €)
September ,
 
Short-term debt and current
maturities of long-term debt 3,660 2,416
Trade payables 7,677 7,899
Other current financial liabilities 2,247 1,401
Current provisions 5,168 5,138
Income tax payables 2,032 1,816
Other current liabilities 21,020 21,794
Liabilities associated with assets
classified as held for disposal 1,756 146
Total current liabilities 43,560 40,610
Long-term debt 14,280 17,497
Pension plans and similar commitments 7,307 8,464
Deferred tax liabilities 595 577
Provisions 3,654 3,332
Other financial liabilities 824 971
Other liabilities 1,867 2,280
Total long-term liabilities 28,527 33,121
Short-term debt and current maturities of long-term debt
totaled €. billion at the end of fiscal , an increase of
€. billion from the prior year-end. This increase resulted
mainly from the reclassification of certain debt from the
line
item Long-term debt: €. billion in .% instruments, is-
sued in June  and due in December ; € million in
.% instruments, issued in August  and due in Decem-
ber ; US$ million in floating rate notes (three months
London Interbank Offered Rate + .%), issued in March
 and due in March ; US$ million in .% notes,
issued in August  and due in February ; € million
in floating rate notes (six months European Interbank Offered
Rate + .%) and €. million in floating rate notes
(six months European Interbank Offered Rate + .%), both