Siemens 2015 Annual Report Download - page 79

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Consolidated Financial Statements 
The following table presents key assumptions used to deter-
mine fair value less costs to sell for impairment test purposes
for the groups of cash-generating units to which a significant
amount of goodwill is allocated:
Sep 30, 2015
Goodwill Terminal value
growth rate
After-tax
discount rate
(in millions of €)
Diagnostics of Healthcare 5,108 2.5% 6.5%
Power and Gas (without part of Power Generation Services) 3,587 1.7% 8.0%
Digital Factory 3,328 1.7% 8.5%
Imaging & Therapy Systems of Healthcare 2,790 2.0% 6.5%
Power Generation Services (part of Power and Gas) 2,613 1.7% 8.0%
Revenue figures in the -year planning period of the groups of
cash-generating units to which a significant amount of good-
will is allocated include average revenue organic growth rates
of between . % and . %.
Sep 30, 2014
Goodwill Terminal value
growth rate
After-tax
discount rate
(in millions of €)
Diagnostics of the Healthcare Sector 4,765 2.4% 6.5%
Industry Automation of the Industry Sector 3,105 1.7% 8.5%
Imaging & Therapy Systems of the Healthcare Sector 2,603 2.2% 7.5%
The sensitivity analysis for the groups of cash-generating units
to which a significant amount of goodwill is allocated was
based on an increase in after-tax discount rates of one percent-
age point or a reduction in the terminal value growth rate of
one percentage point. Siemens concluded that no impairment
loss would need to be recognized on goodwill in any of the
groups of cash-generating units.