Siemens 2011 Annual Report Download - page 345

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

net cash provided by (used in) operating activities less addi-
tions to intangible assets and property, plant and equipment.
It excludes Financing interest, except for cases where interest
on qualifying assets is capitalized or classified as contract
costs and it also excludes income tax related and certain other
payments and proceeds, in accordance with the Company ’s
Profit and Asset measurement definition. Free cash flow of Eq-
uity Investments includes interest from shareholder loans
granted to investments reported in Equity Investments, pri-
marily NSN. Pension curtailments are a partial payback with
regard to past service cost that affect segment Free cash flow.
Free cash flow of SFS, a financial services business, includes
related financing interest payments and proceeds; income tax
payments and proceeds of SFS are excluded.
Amortization, depreciation and impairments
Amortization, depreciation and impairments presented in
Segment information includes depreciation and impairments
of property, plant and equipment, net of reversals of impair-
ments as well as amortization and impairments of intangible
assets, net of reversals of impairment. Goodwill impairment is
excluded.
Measurement –
Centrally managed portfolio activities and SRE
Centrally managed portfolio activities follow the measure-
ment principles of the Sectors. SRE applies the measurement
principles of SFS; since fiscal , Total assets of SRE nets cer-
tain intercompany finance receivables with certain intercom-
pany finance liabilities.
RECONCILIATION TO SIEMENS’
CONSOLIDATED FINANCIAL STATEMENTS
The following table reconciles total Assets of the Sectors, Eq-
uity Investments and SFS to Total assets of Siemens’ Consoli-
dated Statements of Financial Position:
September ,
(in millions of €)  
Assets of Sectors 20,425 20,580
Assets of Equity Investments 3,382 3,319
Assets of SFS 14,602 12,506
Total Segment Assets 38,409 36,405
Reconciliation:
Assets Centrally managed portfolio activities (397) (457)
Assets SRE 4,974 5,067
Assets of Corporate items and pensions (9,141) (9,644)
Eliminations, Corporate Treasury and other
reconciling items of Segment information:
Asset-based adjustments:
Intragroup financing receivables
and investments 24,808 24,813
Tax-related assets 3,901 4,625
Liability-based adjustments:
Pension plans and similar commitments 7,307 8,464
Liabilities 42,578 41,637
Eliminations, Corporate Treasury,
other items  (8,196) (8,083)
Total Eliminations, Corporate Treasury
and other reconciling items of Segment
information 70,398 71,455
Total assets in Siemens’ Consolidated
Statements of Financial Position 104,243 102,827
1 Includes assets and liabilities reclassified in connection with discontinued operations.
Due to rounding, numbers presented may not add up precisely to totals provided.
In fiscal years  and , Corporate items and pensions in
the column Profit includes €() million and €() million
related to Corporate items, as well as € million and €()
million related to Pensions, respectively. For fiscal , Com-
pany ’s management approved a special remuneration, which
was presented in Corporate items in fiscal ; in fiscal ,
the remuneration totaling € million for continuing opera-
tions was primarily allocated to the Sectors based on manage-
ment approach, which resulted in a positive impact at Corpo-