Siemens 2013 Annual Report Download - page 329

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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Orders:
Orders are determined principally as estimated revenue of ac-
cepted purchase orders and order value changes and adjust-
ments, excluding letters of intent. New orders are supplemen-
tary information, provided on a voluntary basis. It is not part of
the audited Consolidated Financial Statements.
Free cash flow definition:
Segment information discloses Free cash flow and Additions to
property, plant and equipment and intangible assets. Free cash
flow of the Sectors and Equity Investments constitutes cash
flows from operating activities less additions to intangible as-
sets 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
non-cash income tax as well as certain other payments and
proceeds. Free cash flow of Equity Investments includes inter-
est from shareholder loans granted to investments reported
in Equity Investments. Pension curtailments are a partial pay-
back 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; Total assets of SRE nets certain intercom-
pany finance receivables with certain intercompany finance
liabilities.
RECONCILIATION TO SIEMENS’
CONSOLIDATED FINANCIAL STATEMENTS
The following table reconciles total Assets of the Sectors,
Equity Investments and SFS to Total assets of Siemens’ Con-
solidated Statements of Financial Position:
September 30,
(in millions of €) 2013 2012
Assets of Sectors 24,886 23,364
Assets of Equity Investments 1,767 2,715
Assets of SFS 18,661 17,405
Total segment assets 45,314 43,484
Reconciliation:
Assets Centrally managed portfolio activities (267) (448)
Assets SRE 4,747 5,018
Assets of Corporate items and pensions (11,252) (11,693)
Eliminations, Corporate Treasury and other
reconciling items of Segment information:
Asset-based adjustments:
Intragroup financing
receivables and investments 40,850 22,046
Tax-related assets 3,924 4,453
Liability-based adjustments:
Post-employment benefits 9,265 9,801
Liabilities 39,336 42,072
Eliminations, Corporate Treasury,
other items  (29,981) (6,482)
Total Eliminations, Corporate Treasury
and other reconciling items of
Segment information  63,393 71,889
Total assets in Siemens’ Consolidated
Statements of Financial Position 101,936 108,251
1 In accordance with Siemens’ segment measurement principles, effects from
adopting IAS 19R retrospectively increased Assets of line item Corporate items
and pension by €147 million and decreased line item Total Eliminations, Corporate
Treasury and other reconciling items by €176 million compared to previously
reported amounts as of September 30, 2012.
2 Includes assets and liabilities reclassified in connection with discontinued operations.
In fiscal years  and , Corporate items and pensions in
the column Profit includes €() million and €() million re-
lated to Corporate items, as well as €() million and €()
million related to Pensions, respectively. Remaining costs in
connection with Siemens IT Solutions and Services charged to
Corporate items in fiscal  and  amount to € million
and € million. Effects from asset retirement obligations for
environmental clean-up costs impacted Corporate items with
€ million and € million in fiscal  and , respective-
ly. Legal and regulatory matters contributed positive effects to
Corporate items in fiscal .