Siemens 2013 Annual Report Download - page 365

253 D. Consolidated Financial Statements 357 E. Additional Information
358 E. Responsibility statement
359 E. Independent Auditor ʼs report
361 E. Statement of the Managing Board
362 E.4 Five-year summary
364 E. Glossary
366 E. Index
368 E. Company structure
370 E. Further information and information resources
371 E. Financial calendar
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H
Hybrid bond A corporate bond that, due to its characteris-
tics such as long maturity date and subordi-
nation, bears the character of both debt and
equity.
O
Operating net
working capital
The net amount of inventories less advance
payments received plus trade and other
receivables minus trade payables and minus
billings in excess of costs and estimated earn-
ings on uncompleted contracts and related
advances.
Order backlog Inventory of orders for goods and services
based on binding contractual arrangements
with customers.
R
Return on capital employed
(ROCE)
This key performance indicator shows how
efficiently a company works with the capital
of its shareholders and lenders.
Risk management Systematic process to identify and assess
potential opportunities and risks and to select
and implement response strategies with
respect to these opportunities and risks.
S
Sensitivity analysis Analysis of effects of possible changes in
assumptions. It is used, for example, to estimate
how the defined benefit obligation is affected
by decreasing / increasing discount rates.
Supply Chain Management Comprises the planning and management
of all processes in connection with supplier
selection, procurement and logistics.
W
Weighted Average Cost
of Capital (WACC)
The rate that a company is expected to pay
on average to all its providers of capital to
finance its assets.