Siemens 2014 Annual Report Download - page 267

247 D. Consolidated Financial Statements 337 E. Additional Information
248 D. Consolidated Statements of Income
249 D. Consolidated Statements of Comprehensive Income
250 D. Consolidated Statements of Financial Position
251 D. Consolidated Statements of Cash Flows
252 D. Consolidated Statements of Changes in Equity
254 D. Notes to Consolidated Financial Statements
330 D. Supervisory Board and Managing Board

INCOME (LOSS) FROM DISCONTINUED OPERATIONS
In fiscal  and , the major line items of income from
discontinued operations were as follows:
Year ended September ,
(in millions of €)  
Revenue 2,951 7,757
Expenses (2,916) (7,501)
Income on the measurement to fair value less
costs to sell or on the disposal of the disposal
groups constituting the discontinued operations 23 129
Pretax income from discontinued operations 57 385
Income taxes on ordinary activities 41 (174)
Income taxes on the income on the measure-
ment to fair value less costs to sell or on the
disposal of the disposal groups constituting
the discontinued operations 920
Income from discontinued operations,
net of income taxes 108 231
Thereof attributable to the shareholders of
Siemens AG 107 225
NOTE  Interests in other entities
For information on the composition of the Siemens Group refer
to the list of our subsidiaries, joint ventures and associates in
fiscal  in NOTE  LIST OF SUBSIDIARIES AND ASSOCIATED
COMPANIES PURSUANT TO SECTION  PARA.  OF THE GERMAN COM-
MERCIAL CODE and NOTE  ACQUISITIONS, DISPOSITIONS AND DIS-
CONTINUED OPERATIONS.
INVESTMENTS ACCOUNTED FOR
USING THE EQUITY METHOD
a) Income (loss) from investments accounted
for using the equity method, net
Year ended September ,
(in millions of €)  
Share of profit (loss), net 575 247
Gains (losses) on sales, net 678
Impairment and reversals of impairment 1185
Income (loss) from investments accounted
for using the equity method, net 582 510
As of September ,  and , Siemens has one principal
joint venture, BSH Bosch und Siemens Hausgeräte GmbH
(BSH), Munich, Germany which is a worldwide home appliances
manufacturer. In the second quarter of fiscal , Siemens
started to report results related to its stake in BSH using the
equity method in phase with results of Siemens, rather than
with the lag of one quarter. Due to the one-time catch-up effect
associated with this change, item Share of profit (loss), net for
fiscal  therefore includes results related to BSH for approx-
imately five quarters rather than the usual four. This one-time
catch-up effect increased the income from Siemens’ invest-
ment in BSH by €  million. At the end of the fourth quarter of
fiscal , BSH was classified as held for disposal and the use
of the equity method was ceased.
Item Share of profit (loss), net, also includes Siemens’ share in
BWI Informationstechnik GmbH’s (BWI IT) earnings of €  mil-
lion and €  million in fiscal  and .
Items Share of profit (loss), net, Gains (losses) on sales, net and
Impairment and reversals of impairment include the effects
of disposing of Siemens’ share in NSN in the fourth quarter of
fiscal . In fiscal , item Impairment and reversals of
impairment includes €() million related to an investment of
Siemens’ solar business.
b) Associates
As of September ,  and , the carrying amount of all
individually not material associates amounts to € , million
and € , million, respectively. Summarized financial infor-
mation for all individually not material associates adjusted
for the percentage of ownership held by Siemens, is presented
below. Items included in the Statements of Comprehensive
Income are presented for the twelve month period applied
under the equity method.
Year ended September ,
(in millions of €)  
Income (loss) from continuing operations 102 163
Income (loss) from discontinued operations 22 –
Other comprehensive income,
net of income taxes (52) (33)
Total comprehensive income 71 130
The carrying amount of all individually not material associates
includes the carrying amount of BWI IT, amounting to €  mil-
lion and €  million as of September ,  and .
Siemens holds a . % stake in BWI IT. BWI IT is not controlled
by Siemens due to significant participating rights of the two
other shareholders. Together with the HERKULES obliga-
tions disclosed in NOTE , COMMITMENTS AND CONTINGENCIES,
the Company’s maximum exposure to loss from BWI IT as of