Siemens 2013 Annual Report Download - page 331

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

As of September ,  and , loans given to joint ven-
tures and associates amounted to € million and € million,
respectively. In the normal course of business the Company
regularly reviews loans and receivables associated with joint
ventures and associates. In fiscal  and , the review re-
sulted in net losses related to valuation allowances totaling
€ million and net gains related to valuation allowances total-
ing € million, respectively. As of September ,  and ,
valuation allowances amounted to € million and € million,
respectively. In fiscal , Siemens increased its net invest-
ment in EN by € million. The carrying amount remains €
by applying the equity method. For further information see
NOTE  INCOME (LOSS) FROM INVESTMENTS ACCOUNTED FOR USING
THE EQUITY METHOD, NET.
As of September ,  and , guarantees to joint ven-
tures and associates amounted to €, million and €,
million, respectively, including the HERKULES obligations of
€, million and €, million, respectively. As of Septem-
ber ,  the NSN obligations were included. For additional
information regarding the HERKULES obligations as well as
for information regarding guarantees in connection with the
contribution of the SEN operations into EN see NOTE 28
COMMITMENTS AND CONTINGENCIES. As of September ,  and
, guarantees to joint ventures amounted to € million
and € million, respectively. As of September ,  and
, the Company had commitments to make capital contri-
butions of € million and € million to its joint ventures
and associates, therein € million and € million related to
joint ventures, respectively. For a loan raised by a joint ven-
ture, which is secured by a Siemens guarantee, Siemens grant-
ed an additional collateral. As of September ,  and 
the outstanding amount totaled to € million and € mil-
lion, respectively. As of September ,  and  there
were loan commitments to joint ventures and associates
amounting to € million and € million, respectively, there-
in € million and € million, respectively related to joint
ventures.
PENSION ENTITIES
For information regarding the funding of our pension plans
refer to NOTE  POST-EMPLOYMENT BENEFITS.
RELATED INDIVIDUALS
Related individuals include the members of the Managing
Board and Supervisory Board.
In fiscal  and  members of the Managing Board re-
ceived cash compensation of €. million and €. million.
The fair value of stock-based compensation amounted to €.
million and €. million for , and , Stock
Awards, respectively, in fiscal  and . In fiscal  and
 the Company granted contributions under the BSAV to
members of the Managing Board totaling €. million and €.
million.
Therefore in fiscal  and , compensation and benefits,
attributable to members of the Managing Board amounted to
€. million and €. million in total, respectively.
In addition, in connection with termination of Managing Board
membership, compensatory payments amounting to €.
million (gross) and one-time special contributions amounting
to €. million to the BSAV were agreed. It was also agreed that
these members of the Managing Board receive their long-term
stock-based compensation for fiscal  (, Stock
Awards), which will be settled in cash, and is included in the
above mentioned stock-based compensation amount. The
Company has furthermore agreed to reimburse out-of-pocket
expenses up to a maximum of €, plus value-added tax.
The , Stock Awards that were granted in the past and for
which the restriction period is still in effect, will be absolutely
maintained. The respective fair value of these stock awards at
grant date amounted to €. million.
In fiscal  and , expense related to share-based pay-
ment and to the Share Matching Program amounted to €.
million (including the above mentioned Stock Awards in con-
nection with the departure from members of the Managing
Board) and €. million, respectively. For additional informa-
tion regarding the Share Matching Program see NOTE 
SHARE-BASED PAYMENT.
Former members of the Managing Board and their surviving
dependents received emoluments within the meaning of Sec-
tion  para.  No.  b of the German Commercial Code total-
ing €. million (including €. million in connection with
the above mentioned departure from a member of the Manag-
ing Board) and €. million in fiscal  and .