Siemens 2012 Annual Report Download - page 302

1 A. To our Shareholders 49 C. Combined Management Report 21 B. Corporate Governance
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The dilutive earnings per share computation does not contain
, thousand shares relating to warrants issued with bonds
at September , . The inclusion of those shares would
have been antidilutive in the years presented. In the future,
the warrants could potentially dilute basic earnings per share.
  Segment information
Segment information is presented for continuing operations.
Effective as of October , , Siemens changed its organiza-
tional structure of the Sectors. Prior-year information has been
recast to correspond to the fiscal  reporting format. A fourth
Sector, Infrastructure & Cities was formed in order to benefit
from the growth of urban centers. The new Infrastructure & Cit-
ies Sector comprises the Industry Sector activities of Building
Technologies, Mobility as well as the Energy Sector’s Power Dis-
tribution business and Smart Grid applications. The Industry
Sector is focusing even more sharply on industry solutions. Ac-
cordingly, since fiscal , the Company has six reportable seg-
ments: the four Sectors Energy, Healthcare, Industry and Infra-
structure & Cities as well as Equity Investments and Financial
Services (SFS). Healthcare, Equity Investments and SFS retained
its previous structure. The Managing Board is monitoring each
reportable segment. Each reportable segment has its own seg-
ment management reporting to the Managing Board.
   
The four Sectors comprise manufacturing, industrial and com-
mercial goods, solutions and services in areas more or less
related to Siemens’ origins in the electrical business field.
Energy – offers a wide spectrum of products, services and so-
lutions for the generation and transmission of power, and the
extraction, conversion and transport of oil and gas. It primarily
addresses the needs of energy providers, but also serves in-
dustrial companies, particularly in the oil and gas industry.
Healthcare – offers customers a comprehensive portfolio of
medical solutions across the treatment chain – ranging from
medical imaging to in vitro diagnostics to interventional sys-
tems and clinical information technology systems – all from a
single source. In addition, the Sector provides technical main-
tenance, professional and consulting services, and, together
with Financial Services (SFS), financing to assist customers in
purchasing the Sector’s products.
Industry – offers a broad spectrum of products, services and
solutions for the efficient use of resources and energy and im-
provements of productivity and flexibility in industry. Its inte-
grated technologies and holistic solutions address primarily
industrial customers, such as process and manufacturing in-
dustries. The portfolio spans industry automation and drives
products and services, system integration and solutions for in-
dustrial plant businesses as well as water processing systems.
Infrastructure & Cities – offers sustainable technologies for
metropolitan areas and their infrastructures. Its offerings in-
clude integrated mobility solutions, building and security sys-
tems, power distribution equipment, smart grid applications,
and low- and medium-voltage products.
Equity Investments – is a reportable segment with its own
management. Equity Investments contains investments ac-
counted for under the equity method or at cost and current
available-for-sale financial assets. For strategic reasons, as of
September ,  and , NSN, BSH and EN, are reported in
Equity Investments.
Financial Services (SFS) – provides a variety of financial ser-
vices and products both to third parties and to other Siemens
entities and their customers.

   
Reconciliation to Consolidated Financial Statements contains
businesses and items not directly related to Siemens’ report-
able segments:
Centrally managed portfolio activities – generally includes
activities intended for divestment or closure. In fiscal  and
 it primarily includes activities remaining from divestments
and discontinued operations such as from Siemens IT Solutions
and Services and from the former Com business as well as ef-
fects from EA sold in the second quarter of fiscal .
Siemens Real Estate (SRE) – owns and manages the
Siemens real estate portfolio and offers a range of services en-
compassing real estate development, real estate disposal and
asset management, as well as lease and services management.
Corporate items and pensions – includes corporate charges
such as personnel costs for corporate headquarters, corporate
projects and non-operating investments or results of corpo-
rate-related derivative activities and costs for carve out activi-
ties managed by corporate, which are charged to the respec-
tive segment when the disposal gain or loss is realized or
when the activities are classified as discontinued operations.
Pensions includes the Company ’s pension related income (ex-
pense) not allocated to the segments, SRE or Centrally man-
aged portfolio activities.