Siemens 2011 Annual Report Download - page 341

153 D. Consolidated Financial Statements 273 E. Additional information
158 D. Consolidated Statements of Changes in Equity
160 D. Notes to Consolidated Financial Statements
266 D. Supervisory Board and Managing Board
154 D. Consolidated Statements of Income
155 D.2 Consolidated Statements of Comprehensive Income
156 D. Consolidated Statements of Financial Position
157 D. Consolidated Statements of Cash Flow

Year ended
September , 
Year ended
September , 
Options
Weighted
average
exercise
price Options
Weighted
average
exercise
price
Outstanding,
beginning of period 935,432 €74.59 2,627,742 €73.89
Options exercised (916,137) €74.59 (687,605) €74.59
Options expired (12,220) €74.59 (888,210) €72.54
Options forfeited (7,075) €74.59 (116,495) €74.42
Options settled – – – –
Outstanding,
end of period – – 935,432 €74.59
Exercisable,
end of period – – 935,432 €74.59
As of September 30, 2010, for Options outstanding the weighted average remaining
contractual term was 0.13 years; the aggregate intrinsic value amounted to €3 million.
The following table summarizes information on stock options
outstanding at September ,  and :
September ,  September , 
Exercise
prices
Number of
options
outstanding
Weighted
average
remaining
life (years)
Number of
options
outstanding
Weighted
average
remaining
life (years)
€74.59 – – 935.432 0.1
Fair value information
The Company ’s determination of the fair value of stock option
grants was based on an option pricing model which had been
developed for use in estimating the fair values of options that
have no vesting restrictions. Option valuation models require
the input of highly subjective assumptions including the ex-
pected stock price volatility. The fair value per option out-
standing as of September ,  amounted to €. for
grants made in fiscal .
OTHER SHARE-BASED PAYMENT AWARDS
Siemens maintains other share-based payment awards. The
grants of other share-based payment awards do not have a
material impact on Siemens’ Consolidated Financial State-
ments.
 – Personnel costs
Year ended September ,
(in millions of €)  
Wages and salaries 19,167 18,311
Statutory social welfare contributions and
expenses for optional support payments 3,093 2,894
Expenses relating to pension
plans and employee benefits 938 681
23,198 21,886
Item Expenses relating to pension plans and employee bene-
fits includes service costs for the period. Expected return on
plan assets and interest cost are included in pension related
interest income (expense), see Note 9 Interest income, inter-
est expense and other financial income (expense), net.
Included in fiscal , are expenses of €. billion related to
special remuneration for non-management employees, see
Note 37 Segment information.
Wages and salaries, statutory social welfare contributions and
expenses for optional support payments and expenses relat-
ing to pension plans and employee benefits for continuing
and discontinued operations amounts to €, million and
€, million, respectively in fiscal  and .
The average number of employees in fiscal years  and
 was . thousand and . thousand, respectively
(based on continuing operations). Part-time employees are in-
cluded on a proportionate basis. The employees were en-
gaged in the following activities:
Year ended September ,
(in thousands)  
Manufacturing and services 214.5 204.6
Sales and marketing 73.8 70.5
Research and development 27.8 27.2
Administration and general services 34.4 30.3
350.5 332.6