Siemens 2011 Annual Report Download - page 249

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)

To a lesser extent, derivative financial instruments are also
used within Siemens AG to hedge commodity price risk aris-
ing in connection with procurement transactions. The instru-
ments used for commodity hedging include forward contracts
(i.e.commodity swaps) and options.
C.. Research and development
Most of the research and development expenditure was con-
centrated in the Sectors Industry, Energy and Healthcare. The
Industry Sector spent €. billion with an R&D ratio of %,
compared to €. billion and %, respectively. The Energy
Sector invested € million with an R&D ratio of %, com-
pared to € million and %, respectively. The Healthcare
Sector invested € million with an R&D ratio of %, nearly
unchanged from € million and %, respectively. Corpo-
rate Technology, our central research department, also ac-
counted for R&D expenses. In fiscal  we were involved in
numerous cooperative projects with universities, research in-
stitutes, and partners in industry, as well as in publicly funded
programs such as those of the European Union and the Ger-
man Federal Ministry of Education and Research.
For additional information see C... Research and develop-
ment.
On an average basis, we employed , people in R&D in fis-
cal  compared to , in fiscal .
C.. Employees
The number of employees as of the balance sheet date was
, compared to , in fiscal . The Sectors re-
cruited approximately , new employees, while approxi-
mately , employees left in connection with the divest-
ment of Siemens IT Solutions and Services.
Our employees are an important factor for the success of our
Company. We therefore aim to attract, develop and retain the
best and brightest employees. Our sustainable human re-
sources policy focuses on diversity, learning and continuing
education, supporting a high performance culture, and occu-
pational health and safety. Fair-minded collaboration among
company management, employees and employee representa-
tives plays a central role at Siemens AG.
Year ended September ,
 
Employee fluctuation rate  3.8% 4.0%
Proportion of women
(percentage of employees
in management positions) 10.4% 10.0%
Expenses for continuing education
(in millions of €)  86 90
Expenses per employee for continuing
education (in €)  848 882
1 Employee fluctuation rate is defined as the ratio of voluntary and involuntary exits
from Siemens during the fiscal year to the average number of employees.
2 Without travel expenses.
For additional information see C... Employees.
Employees of Siemens AG as of September , 
(in thousands)
Siemens Real
Estate: 2 (2%)
Industry:
55 (53%)
Energy:
29 (28%)
Healthcare:
10 (9%)
Other: 9 (8%)