Siemens 2013 Annual Report Download - page 327

253 D. Consolidated Financial Statements 357 E. Additional Information
254 D.1 Consolidated Statements of Income
255 D.2 Consolidated Statements of Comprehensive Income
256 D.3 Consolidated Statements of Financial Position
257 D. Consolidated Statements of Cash Flows
258 D.5 Consolidated Statements of Changes in Equity
260 D.6 Notes to Consolidated Financial Statements
348 D.7 Supervisory Board and Managing Board
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NOTE  Segment information
Segment information is presented for continuing operations.
DESCRIPTION OF REPORTABLE SEGMENTS
The four Sectors comprise manufacturing, industrial and com-
mercial goods, solutions and services in areas more or less re-
lated to Siemens’ origins in the electrical business field.
Energy – offers a wide spectrum of products, solutions and
services for generating and transmitting power, and for ex-
tracting, converting and transporting 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 that help customers use resources and energy more
efficiently, improve productivity, and increase flexibility. The
Sector’s integrated technologies and holistic solutions primar-
ily address industrial customers, particularly those in the
process and manufacturing industries. The portfolio spans
industry automation, industrial software, drive products and
services, system integration, and solutions for industrial plant
businesses.
Infrastructure & Cities – offers a wide range of technologies
for increasing the sustainability of metropolitan centers and
urban infrastructures worldwide, such as integrated mobility
solutions, building and security systems, power distribution
equipment, smart grid applications and low and medium-volt-
age products.
Equity Investments – comprises equity stakes held by
Siemens that are either accounted for by the equity method, at
cost or as current available-for-sale financial assets and are not
allocated to a Sector, SFS, Centrally managed portfolio activi-
ties, SRE, Corporate items or Corporate Treasury for strategic
reasons.
Financial Services (SFS) – provides a variety of financial ser-
vices and products to other Siemens units and their customers
and to third parties. SFS has three strategic pillars: supporting
Siemens units with finance solutions for their customers,
managing financial risks of Siemens and offering third-party
finance services and products.
RECONCILIATION
TO CONSOLIDATED FINANCIAL STATEMENTS
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 as well as activi-
ties remaining from divestments and discontinued operations
such as from Siemens IT Solutions and Services and from the
former Com business.
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.
Eliminations, Corporate Treasury and other reconciling
items – comprise consolidation of transactions within the
segments, certain reconciliation and reclassification items and
the activities of the Company ’s Corporate Treasury. It also
includes interest income and expense, such as, for example,
interest not allocated to segments or Centrally managed
portfolio activities (referred to as financing interest), interest
related to Corporate Treasury activities or resulting consolida-
tion and reconciliation effects on interest.