Siemens 2015 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2015 Siemens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

Consolidated Financial Statements 
Revenue and net income of the combined entity in fiscal 
would have been € , million and € , million, respec-
tively, had both acquired businesses been included as of Octo-
ber , .
DISPOSITIONS AND DISCONTINUED OPERATIONS
Carrying amounts of major classes of assets and liabilities held-for-disposal
Sep 30,
(in millions of €) 2015 2014
Trade and other receivables 10 606
Inventories 17 479
Goodwill 12 846
Other intangible assets –246
Property, plant and equipment 76 311
Investments previously accounted for using the equity method –1,156
Other financial assets 1132
Other assets 6158
Assets classified as held for disposal 122 3,935
Trade payables 15 381
Current provisions 5126
Other current liabilities 18 856
Post-employment benefits –110
Other non-current liabilities –123
Liabilities associated with assets classified as held for disposal 39 1,597
DISPOSITIONS NOT QUALIFYING FOR DISCON-
TINUED OPERATIONS – CLOSED TRANSACTIONS
In January , Siemens completed the sale of its  % stake in
the joint venture BSH Bosch und Siemens Hausgeräte GmbH
(BSH) – formerly included in Centrally managed portfolio activi-
ties – to Robert Bosch GmbH. Siemens recognized a pretax gain
on disposal of € . billion in Income (expenses) from invest-
ments accounted for using the equity method, net in fiscal .
DISCONTINUED OPERATIONS
In January , Siemens completed the sale of its hearing aid
business – formerly included in Healthcare – to the investment
company EQT and the German entrepreneurial family Strüng-
mann as co-investors. The sold entities are allowed to continue
using the Siemens product brand for the hearing aid business
over the medium term. The consideration includes contingent
components. Siemens recognized a pretax gain on disposal of
€ . billion in fiscal .
In January , Siemens completed the contribution of its
metals technologies business – formerly included in the former
Industry Sector – into a joint venture with Mitsubishi-Hitachi
Metals Machinery Inc. (majority-owned by Mitsubishi Heavy
Industries Ltd.). Siemens initially recognized the new invest-
ment in Primetals Technologies Ltd. at fair value.
In February , Siemens completed the sale of its hospital
information business – formerly included in Healthcare – to
Cerner Corp. Siemens recognized a pretax gain on disposal of
€  million in fiscal .
The results presented in Income (loss) from discontinued oper-
ations in the Company’s Consolidated Statements of Income
also include the results of businesses that have been disposed
of prior to fiscal .