Siemens 2013 Annual Report Download - page 278

92 A. To our Shareholders 117 B. Corporate Governance 155 C. Combined Management Report

July , Sep. ,
(in millions of €)  
Cash and cash equivalents 476 28
Trade and other receivables 850 827
Inventories 1,009 1,044
Financial assets 271 111
Goodwill 274 277
Other intangible assets 193 161
Property, plant and equipment 1,459 1,416
Deferred tax assets 311 376
Other assets 204 212
Assets classified as held for disposal 5,046 4,450
Trade payables 610 609
Current provisions 98 92
Other current liabilities 434 379
Post-employment benefits 398 488
Other liabilities 796 304
Liabilities associated with
assets classified as held for disposal 2,336 1,872
Revenue resulting from transactions between OSRAM and
joint ventures and associates of Siemens in fiscal  and
 amounted to € million and € million, respectively.
Expenses resulting from transactions between OSRAM and
joint ventures and associates of Siemens in fiscal  and
 amounted to € million and € million, respectively.
As of September , , receivables from and liabilities to
joint ventures and associates are € million and € million,
respectively.
Siemens IT Solutions and Services –
discontinued operations
Effective July , , Atos S.A. (AtoS) acquired Siemens IT
Solutions and Services for a cash payment of € million;
Siemens received €. million newly issued shares in AtoS
with a five-year lock-up commitment, a five-year € million
convertible bond (nominal value) and entered into a sev-
en-year outsourcing contract worth around €. billion, under
which AtoS will provide managed services and system integra-
tion to Siemens. Siemens retains the equity method accounted
project HERKULES, disclosed in Centrally managed portfolio
activities. Siemens recognized a liability for purchase price ad-
justments and recorded contractual obligations, loss provi-
sions and risk contingencies in connection with the sales
agreements. In fiscal  and , a gain of € million and
€ million resulted from purchase price adjustments. A final
settlement with AtoS was not yet reached in fiscal .
Year ended September ,
(in millions of €)  
Revenue ––
Expenses (40) (35)
Gain (loss) on the measurement to fair
value less costs to sell or on the disposal
of the disposal group constituting the
discontinued operations 99 45
Pretax income from discontinued
operations 59 10
Income taxes on ordinary activities 12 15
Income taxes on the gain (loss) on the
measurement to fair value less costs to
sell or on the disposal of the disposal group
constituting the discontinued operations (1) 15
Income from discontinued
operations, net of income taxes 71 40
Former segments SV and Com –
discontinued operations
Net results from discontinued operations of SV activities and
the former operating segment Com presented in the Consoli-
dated Statements of Income in fiscal  and  amounted
to €() million (thereof €() million income tax) and €()
million (thereof €() million income tax), respectively. The
net results in fiscal  included an income tax expense of
€ million related to NSN. The net results in fiscal  mainly
relate to Com and include settlements of a matter with the
Greek State with a pretax impact of €() million (€() mil-
lion after tax) as well as negative tax effects of € million.
NOTE  Other operating income
In fiscal  and , Other operating income includes gains
on sales of property, plant and equipment partially leased back
under operating leases mainly in fiscal  and of intangible
assets of € million and € million, respectively, as well as
income in connection with legal and regulatory matters.
NOTE  Other operating expenses
Other operating expenses in fiscal  and  include
impairment losses on goodwill, charges related to legal and
regulatory matters, losses on sales of property, plant and
equipment and intangible assets and losses from the sale of
businesses.