Siemens 2015 Annual Report Download - page 95

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Consolidated Financial Statements 
Net gains (losses) in fiscal  and  on financial liabilities
measured at amortized cost are comprised of gains (losses)
from derecognition and the ineffective portion of fair value
hedges. Net gains (losses) in fiscal  and  on financial
assets and financial liabilities held for trading consist of
changes in the fair value of derivative financial instruments,
including interest income and expense, for which hedge ac-
counting is not applied. The amounts presented include foreign
currency gains and losses from the realization and valuation of
the financial assets and liabilities mentioned above.
Interest income (expense) other than from post-employment
benefits includes interest from financial assets and financial
liabilities not at fair value through profit or loss:
OFFSETTING
Siemens enters into master netting agreements and similar
agreements for derivative financial instruments and reverse
repurchase agreements. The requirements to offset recognized
financial instruments are usually not met. The following table
reflects financial assets and financial liabilities that are subject
to netting agreements and similar agreements:
Sep 30, 2015
Gross
amounts
Amounts set
off in the
Statement of
Financial
Position
Net amounts
in the
Statement of
Financial
Position
Related
amounts not
set off in the
Statement of
Financial
Position
Net
amounts
(in millions of €)
Financial assets 2,678 10 2,668 1,065 1,604
Derivative financial assets 2,678 10 2,668 1,065 1,604
Reverse repurchase agreements –––––
Financial liabilities – Derivative financial liabilities 1,885 11 1,874 1,032 843
Sep 30, 2014
Gross
amounts
Amounts set
off in the
Statement of
Financial
Position
Net amounts
in the
Statement of
Financial
Position
Related
amounts not
set off in the
Statement of
Financial
Position
Net
amounts
(in millions of €)
Financial assets 2,764 7 2,757 1,355 1,402
Derivative financial assets 2,364 7 2,357 955 1,402
Reverse repurchase agreements 400 – 400 400 –
Financial liabilities – Derivative financial liabilities 1,533 7 1,526 905 621
Fiscal year
(in millions of €) 2015 2014
Total interest income on financial assets 1,248 1,048
Total interest expenses on financial liabilities (739) (643)
In fiscal  and , gains (losses) reclassified from Other
comprehensive income to the Consolidated Statements of
Income relating to cash flow hedges were €() million and
€  million, respectively; unrealized gains (losses) recognized
in Other comprehensive income amounted €() million and
€() million, respectively.