Siemens 2013 Annual Report Download - page 247

253 D. Consolidated Financial Statements
357 E. Additional Information
245 C. Compensation Report, Corporate Governance
statement pursuant to Section a of the
German Commercial Code, Takeover-relevant
information and explanatory report
246 C. Siemens AG ( Discussion on basis of
German Commercial Code)
250 C. Notes and forward-looking statements

Financial income, net rose % year-over-year. The increase
was attributable primarily to an increase of €. billion in in-
come from investments. Other financial income was € mil-
lion lower compared to the prior year, while net interest in-
come came in € million higher.
The primary factor for the increase in income from invest-
ments was a dividend payment of €. billion from Siemens
Beteiligungsverwaltung GmbH & Co. OHG. This was only partly
offset by a decline of € million in dividend payments relat-
ed to Wind Power S / A and Siemens s.r.o. compared to a year
earlier. In addition, income from investments increased on
higher income and lower expenses from profit and loss trans-
fers, which came in € million higher, and decreased impair-
ments of investments, which came in € million lower year-
over-year. The result from disposals of investments decreased
by €. billion and turned negative. These resulted from the
disposal loss of the shares held by Siemens AG in Nokia
Siemens Networks Holding B.V. amounting to € million in
fiscal . In addition, gains from disposals in fiscal  ben-
efited from a gain of €. billion resulting from the contribu-
tion in kind measured at fair value of Siemens Wind Power A / S
into sinius GmbH.
The decrease in other financial income resulted mainly from a
decline of € million in dividend income from fund shares
year-over year. In addition, the change in other financial in-
come included a decrease of € million for the reversal of
impairments of shares in investment funds. These were partly
offset by an increase of € million in financial income relat-
ed to foreign currency and hedging transactions, the reversal
of provisions for risks associated with derivative financial in-
struments and negative excess amounts of measurement
units.
Income tax expenses declined %. The decrease was due
mainly to significantly higher almost tax-free income from in-
vestments year-over-year. An additional positive effect in fiscal
 resulted from the above mentioned compensatory pay-
ments from Siemens Healthcare U.S., which were already
taxed in the prior years. These factors were partly offset by
burdens of a tax audit regarding the rejection of the deduction
of expenses in connection with the buyback of convertible
bonds.
C.. Net assets and financial position
Statement of Financial Position of Siemens AG in
accordance with German Commercial Code (condensed)
September ,
(in millions of €)  
Assets
Non-current assets
Intangible and tangible assets 2,437 2,388
Financial assets 40,530 42,951
42,967 45,339
Current assets
Receivables and other assets 17,032 15,790
Cash and cash equivalents,
marketable securities 2,282 3,155
19,313 18,945
Prepaid expenses 75 86
Deferred tax assets 2,467 2,737
Active difference
resulting from offsetting 46 42
Total assets 64,868 67,149
Liabilities and equity
Equity 18,295 19,811
Special reserve with an equity portion 767 775
Accruals and provisions
Pensions and similar commitments 10,432 9,919
Other provisions 7,827 7,419
18,260 17,338
Liabilities
Liabilities to banks 138 146
Advanced payments received 1,349 1,551
Trade payables, liabilities to
affiliated companies and other liabilities 25,771 27,236
27,257 28,934
Deferred income 290 291
Total liabilities and equity 64,868 67,149
Compared to the prior year, total assets decreased %.