RNS Number:4334N
Siemens AG
19 November 2001
PART 2
Siemens AG
Consolidated Statements of Cash Flow
For the fiscal years September 30, 2001 and September 30, 2000
(in millions of EUR)
Eliminations
reclassifications and
Siemens worldwide Corporate Treasury Operations
2001 2000 2001 2000 2001 2000
Cash flows from operating
activities
Net income 2,088 8,860 62 265 2,367 7,254
Adjustments to reconcile
net income to cash provided
Minority interest (191) 362 - - (186) 356
Depreciation and
amortization 6,264 4,652 - - 4,684 3,428
Deferred taxes 36 585 13 16 463 464
Gains on sales & disposals
of property, plant and
equipment, net (151) (116) - - (40) (3)
(Gains)losses on sales and
disposals of investments,
net (61) (288) - - 207 (288)
Gains on sales and
dispositions of significant
business interests and gain
from issuance of subsidiary
and associated company
stock (4,238) (7,826) (162) - (4,065)(7,826)
Gains on sales of marketable
securities, net (209) (280) - - (203) (260)
(Income) loss from equity
investees, net of dividends
received 27 51 1 - 56 152
Write-off of acquired
in-process research and
development 195 165 - - 126 139
Change in trading securities - (2,175) - - - (2,175)
Change in current assets and
liabilities(Increase)
decrease in inventories,net (716) (984) - - (746) (900)
(Increase) decrease in
accounts receivable, net 1,797 (1,374) (38) (1,475) 1,021 550
Sale of trade receivables 866 - 866 - - -
(Increase) decrease in other
current assets (1,397) 503 (229) (100) (848) 398
Increase (decrease) in
accounts payable 467 1,760 (43) (59) 428 1,364
Increase (decrease) in
accrued liabilities 791 957 185 5 974 441
Increase (decrease) in other
current liabilities 2,682 1,006 (100) (125) 2,694 1,095
Change in other assets
and liabilities (1,234) 296 (289) (163) (1,047) 366
Net cash (used in) provided
by operating activities 7,016 6,154 266 (1,636) 5,885 4,555
Cash flows from investing
activities
Additions to intangible
assets and property, plant
and equipment (7,048) (5,544) - - (4,044)(3,375)
Acquisitions, net of cash
acquired (3,898) (3,299) - - (3,898)(3,299)
Purchases of investments (710) (2,901) - - (419)(2,449)
Purchases of marketable
securities (other than
trading) (436) (491) (11) - (329) (39)
Increase in receivables
from financing activities (619) (258) 714 1,762 - -
Proceeds from sale of trade
receivables - - (866) - - -
Proceeds from sales of
long-term investments,
intangibles and property,
plant and equipment 4,207 1,287 4 4 3,511 885
Proceeds from sales and
dispositions of significant
business interests, net of
cash sold 1,475 10,383 1,475 821 - 9,562
Proceeds from sales of
marketable securities
(other than trading) 1,143 388 - 2 660 385
Net cash (used in) provided
by investing activities (5,886) (435) 1,316 2,589 (4,519) 1,670
Cash flows from financing
activities
Proceeds from issuance of
capital stock 514 - (1,495) (821) 514 -
Purchase of common stock
of Company (514) (1,001) - - (514)(1,001)
Proceeds from issuance of
treasury shares 233 - - - 233 -
Proceeds from issuance of
debt 4,141 2,600 4,141 100 - 2,500
Repayment of debt (976) (1,156) (921) (320) 2 (733)
Change in short-term debt (1,828) (1,057) 281 (139) (2,354)(1,005)
Proceeds from issuance of
redeemable interest in
associated companies - 169 - - - -
Change in restricted cash 45 (67) - - - -
Dividends paid (1,412) (593) 407 - (1,412) (593)
Dividends paid to minority
shareholders (298) (69) (119) - (179) (69)
Intercompany financing - - (2,865) 4,717 2,122 (5,728)
Net cash (used in) provided
by financing activities (95) (1,174) (571) 3,537 (1,588)(6,629)
Effect of exchange rates on
cash and cash equivalents (95) 180 (13) 36 (82) 129
Net (decrease) increase in
cash and cash equivalents 940 4,725 998 4,526 (304) (275)
Cash and cash equivalents at
beginning of period 6,862 2,137 5,105 579 1,211 1,486
Cash and cash equivalents
at end of period 7,802 6,862 6,103 5,105 907 1,211
Supplemental disclosure of
cash paid for:
Interest 779 901
Income taxes 1,098 1,910
Siemens AG
Consolidated Statements of Cash Flow...continued
For the fiscal years September 30, 2001 and September 30, 2000
(in millions of EUR)
Financing and
Infineon Real Estate
2001 2000 2001 2000
Cash flows from operating activities
Net income (591) 1,126 250 215
Adjustments to reconcile net income to
cash provided
Minority interest (5) 6 - -
Depreciation and amortization 1,122 834 458 390
Deferred taxes (494) 91 54 14
Gains on sales & disposals of property,
plant and equipment, net - (2) (111) (111)
(Gains)losses on sales and disposals
of investments, net (235) - (33) -
Gains on sales and dispositions of
significant business interests and
gain from issuance of subsidiary
and associated company stock (11) - - -
Gains on sales of marketable
securities, net (1) (20) (5) -
(Income) loss from equity investees,
net of dividends received (25) (101) (5) -
Write-off of acquired in-process
research and development 69 26 - -
Change in trading securities - - - -
Change in current assets and liabilities
(Increase) decrease in inventories,net (36) (108) 66 24
(Increase) decrease in accounts receivable,
net 755 (683) 59 234
Sale of trade receivables - - - -
(Increase) decrease in other current assets (139) (13) (181) 218
Increase (decrease) in accounts payable 58 469 24 (14)
Increase (decrease) in accrued liabilities (322) 467 (46) 44
Increase (decrease) in other current
liabilities 27 103 61 (67)
Change in other assets and liabilities 39 (115) 63 208
Net cash (used in) provided by operating
activities 211 2,080 654 1,155
Cash flows from investing activities
Additions to intangible assets and property,
plant and equipment (2,364) (1,614) (640) (555)
Acquisitions, net of cash acquired - - - -
Purchases of investments (214) (302) (77) (150)
Purchases of marketable securities
(other than trading) (82) (452) (14) -
Increase in receivables from financing
activities - - (1,333)(2,020)
Proceeds from sale of trade receivables - - 866 -
Proceeds from sales of long-term investments,
intangibles and property,plant and equipment 373 41 319 357
Proceeds from sales and dispositions of
significant business interests, net of
cash sold - - - -
Proceeds from sales of marketable securities
(other than trading) 474 - 9 1
Net cash (used in) provided by investing
activities (1,813) (2,327) (870)(2,367)
Cash flows from financing activities
Proceeds from issuance of capital stock 1,495 821 - -
Purchase of common stock of Company - - - -
Proceeds from issuance of treasury shares - - - -
Proceeds from issuance of debt - - - -
Repayment of debt (20) (78) (37) (25)
Change in short-term debt 114 73 131 14
Proceeds from issuance of redeemable
interest in associated companies - 169 - -
Change in restricted cash 45 (67) - -
Dividends paid 407 - - -
Dividends paid to minority shareholders - - - -
Intercompany financing 619 (199) 124 1,210
Net cash (used in) provided
by financing activities 1,846 719 218 1,199
Effect of exchange rates on cash and
cash equivalents 2 9 (2) 6
Net (decrease) increase in cash and
cash equivalents 246 481 - (7)
Cash and cash equivalents at beginning
of period 511 30 35 42
Cash and cash equivalents at end of period 757 511 35 35
Supplemental disclosure of cash paid for:
Interest
Income taxes
Siemens AG
Segment Information
As of and for the three months ended September 30, 2001 and September 30, 2000
(in millions of EUR)
Intersegment
New orders External sales sales
2001 2000 2001 2000 2001 2000
Operations
Information and
Communication Networks(ICN) 3,024 3,004 3,461 3,378 218 34
Information and Communication
Mobile (ICM) 3,001 2,860 3,028 2,888 38 29
Siemens Business Services(SBS) 1,584 1,897 1,112 1,264 509 495
Automation and Drives (A&D) 2,064 2,170 2,150 2,005 309 294
Industrial Solutions and
Services (I&S) 1,348 1,329 1,057 991 334 327
Siemens Dematic (SD) 973 739 825 456 19 57
Siemens Building Technologies
(SBT) 1,369 1,338 1,483 1,358 150 148
Power Generation (PG) 2,343 2,900 2,639 2,515 12 11
Power Transmission and
Distribution (PTD) 878 877 1,230 948 54 49
Transportation Systems (TS) 931 1,298 1,130 1,034 6 2
Siemens VDO Automotive (SV) 1,890 950 1,886 948 4 2
Medical Solutions (Med) 2,457 1,787 2,032 1,619 - (19)
Osram 1,066 1,106 979 1,024 87 81
Corporate, eliminations (1,897) (1,729) 493 1,010 (1,558)(1,276)
Total Operations 21,031 20,526 23,505 21,438 182 234
Reconciliation to financial
statements - - - - - -
Other interest expense - - - - - -
Goodwill amortization and
purchased in-process R&D
expenses - - - - - -
Gains on sales and
dispositions of significant
business interests - - - - - -
Other special items - - - - - -
Operations income (loss)before
income taxes/total assets/
total amortization,
depreciation and write-downs - - - - - -
Infineon Technologies (Infineon) 629 2,550 870 2,071 215 309
Reconciliation to financial
statements - - - - - -
Infineon income (loss) before
income taxes/total assets - - - - - -
Financing and Real Estate
Siemens Financial Services(SFS) 139 97 110 91 29 6
Siemens Real Estate (SRE) 414 366 55 60 359 316
Eliminations - - - - (2) -
Total Financing and Real Estate 553 463 165 151 386 322
Eliminations, reclassifications
and Corporate Treasury - - - - (783) (865)
Siemens worldwide 22,213 23,539 24,540 23,660 - -
Siemens AG
Segment Information
As of and for the three months ended September 30, 2001 and September 30, 2000
(in millions of EUR)
Total sales EBITA EBITA assets
2001 2000 2001 2000 9/30/01 9/30/00
Operations
Information and Communication
Networks(ICN) 3,679 3,412 (498) 159 3,298 4,454
Information and Communication
Mobile (ICM) 3,066 2,917 (21) 60 2,623 2,876
Siemens Business Services(SBS) 1,621 1,759 (304) 61 518 1,396
Automation and Drives (A&D) 2,459 2,299 270 213 2,653 2,632
Industrial Solutions and
Services (I&S) 1,391 1,318 81 65 493 375
Siemens Dematic (SD) 844 513 (35) 64 984 560
Siemens Building Technologies
(SBT) 1,633 1,506 39 111 2,276 2,226
Power Generation (PG) 2,651 2,526 202 35 (1,003) 178
Power Transmission and
Distribution (PTD) 1,284 997 39 (19) 1,004 784
Transportation Systems (TS) 1,136 1,036 59 46 (916) (337)
Siemens VDO Automotive (SV) 1,890 950 (158) (2) 3,691 937
Medical Solutions (Med) 2,032 1,600 225 120 4,099 3,308
Osram 1,066 1,105 106 74 2,505 2,533
Corporate, eliminations (1,065) (266) 135 (147) (2,555) 2,143
Total Operations 23,687 21,672 (130) 840 19,670 24,065
Reconciliation to financial
statements - - - - 51,247 45,044
Other interest expense - - (106) (145) - -
Goodwill amortization and
purchased in-process R&D
expenses - - (175) (87) - -
Gains on sales and
dispositions of significant
business interests - - 606 71 - -
Other special items - - (893) (413) - -
Operations income (loss) before
income taxes/total assets/
total amortization,
depreciation and write-downs - - (698) 266 70,917 69,109
Net capital
EBIT employed
Infineon Technologies (Infineon) 1,085 2,380 (882) 807 6,471 5,709
Reconciliation to financial
statements - - - 44 3,272 3,144
Infineon income (loss) before
income taxes/total assets - - (882) 851 9,743 8,853
Income before
income taxes Total assets
Financing and Real Estate
Siemens Financial Services(SFS) 139 97 15 9 9,363 8,532
Siemens Real Estate (SRE) 414 376 44 51 3,469 3,590
Eliminations (2) - - - (65) (508)
Total Financing and Real Estate 551 473 59 60 12,767 11,614
Eliminations, reclassifications
and Corporate Treasury (783) (865) 1 42 (3,309) (7,922)
Siemens worldwide 24,540 23,660 (1,520) 1,219 90,118 81,654
Siemens AG
Segment Information .....continued
As of and for the three months ended September 30, 2001 and September 30, 2000
(in millions of EUR)
Amortization,
Capital depreciation and write-
spending(1) downs(2) (excl. goodwill
amortization)
2001 2000 2001 2000
Operations
Information and
Communication Networks (ICN) 259 252 133 145
Information and Communication
Mobile (ICM) 143 236 136 116
Siemens Business Services (SBS) 122 197 120 93
Automation and Drives (A&D) 118 108 77 73
Industrial Solutions and Services
(I&S) 42 27 18 19
Siemens Dematic (SD) 42 20 20 14
Siemens Building Technologies (SBT) 150 118 46 41
Power Generation (PG) 96 155 63 30
Power Transmission and Distribution
(PTD) 64 25 23 21
Transportation Systems (TS) 64 40 15 1
Siemens VDO Automotive (SV) 176 133 174 51
Medical Solutions (Med) 139 2,221 66 48
Osram 149 142 74 81
Corporate, eliminations 242 2,064 175 607
Total Operations 1,806 5,738 1,140 1,340
Reconciliation to financial
statements - - - -
Other interest expense - - - -
Goodwill amortization and
purchased in-process R&D expenses - - 175 (3) 87 (3)
Gains on sales and dispositions
of significant business interests - - - -
Other special items - - 933 36
Operations income before income
taxes/total assets/
total amortization,
depreciation and write-downs - - 2,248 1,463
Amortisation,
depreciation and write-
downs(2)
Infineon Technologies (Infineon) 618 935 329 258
Reconciliation to financial
statements - - - -
Infineon income (loss)
before income taxes/total assets - - - -
Financing and Real Estate
Siemens Financial Services (SFS) 161 131 72 52
Siemens Real Estate (SRE) 82 66 58 48
Eliminations - - - -
Total Financing and Real Estate 243 197 130 100
Eliminations, reclassifications
and Corporate Treasury - - - -
Siemens worldwide 2,667 6,870 2,707 1,821
(1) Intangible assets, property, plant and equipment, acquisitions, and
investments.
(2) Includes amortization of intangible assets, depreciation of property, plant
and equipment, and write-downs of investments.
(3) Represents only goodwill amortization.
Siemens AG
Segment Information
As of and for the fiscal years ended September 30, 2001 and September 30, 2000
(in millions of EUR)
Intersegment
New orders External sales sales Total sales
2001 2000 2001 2000 2001 2000 2001 2000
Operations
Information
and Communication
Networks (ICN) 12,639 11,648 12,189 11,129 693 194 12,882 11,323
Information and
Communication
Mobile (ICM) 11,866 10,420 11,151 8,790 148 120 11,299 8,910
Siemens
Business
Services (SBS) 6,303 5,857 4,261 4,390 1,773 1,492 6,034 5,882
Automation
and Drives (A&D) 9,065 8,163 7,843 6,889 1,104 1,054 8,947 7,943
Industrial
Solutions
and
Services (I&S) 4,881 4,401 3,398 3,173 1,165 1,053 4,563 4,226
Siemens
Dematic (SD) 2,281 1,913 2,381 1,589 139 197 2,520 1,786
Siemens
Building
Technologies
(SBT) 5,549 5,066 5,094 4,504 424 428 5,518 4,932
Power
Generation (PG) 12,219 9,409 8,487 7,726 76 31 8,563 7,757
Power
Transmission
and
Distribution
(PTD) 3,887 3,566 3,818 2,969 235 182 4,053 3,151
Transportation
Systems (TS) 5,647 3,722 4,000 3,706 21 4 4,021 3,710
Siemens
VDO Automotive
(SV) 5,702 3,839 5,694 3,828 8 5 5,702 3,833
Medical
Solutions (Med) 8,444 5,253 7,199 4,901 20 23 7,219 4,924
Osram 4,522 4,327 4,200 4,038 322 288 4,522 4,326
Corporate,
eliminations (6,890) (4,759) 1,945 3,229 (5,361) (4,329)(3,416)(1,100)
Total Operations 86,115 72,825 81,660 70,861 767 742 82,427 71,603 1,329
Reconciliation to
financial statements - - - - - - - -
Other
interest expense - - - - - - - -
Goodwill amortization
and purchased
in-process
R&D expenses - - - - - - - -
Gains on sales and
dispositions of
significant business
interests - - - - - - - -
Other
special items - - - - - - - -
Operations income
before income taxes/
total assets/total
amortization,
depreciation and
write-downs - - - - - - - -
Infineon
Technologies
(Infineon) 4,390 8,837 4,744 6,200 927 1,083 5,671 7,283
Reconciliation
to financial
statements - - - - - - - -
Infineon income (loss)
before income
taxes/total assets - - - - - - - -
Financing
and Real Estate
Siemens Financial
Services (SFS) 481 354 373 242 108 112 481 354
Siemens Real Estate
(SRE) 1,542 1,410 223 181 1,319 1,239 1,542 1,420
Eliminations - - - - (7) - (7) -
Total Financing
and Real Estate 2,023 1,764 596 423 1,420 1,351 2,016 1,774
Eliminations,
reclassifications
and Corporate
Treasury - - - - (3,114) (3,176)(3,114) (3,176)
Siemens
worldwide 92,528 83,426 87,000 77,484 - - 87,000 77,484
Siemens AG
Segment Information....continued
As of and for the fiscal years ended September 30, 2001 and September 30, 2000
(in millions of EUR)
EBITA EBITA assets
2001 2000 9/30/01 9/30/00
Operations
Information and Communication
Networks (ICN) (861) 686 3,298 4,454
Information and Communication
Mobile (ICM) (307) 718 2,623 2,876
Siemens Business Services(SBS) (259) 70 518 1,396
Automation and Drives (A&D) 981 865 2,653 2,632
Industrial Solutions and
Services (I&S) 97 111 493 375
Siemens Dematic (SD) (59) 196 984 560
Siemens Building
Technologies (SBT) 132 297 2,276 2,226
Power Generation (PG) 634 66 (1,003) 178
Power Transmission and
Distribution (PTD) 96 45 1,004 784
Transportation Systems (TS) 186 75 (916) (337)
Siemens VDO Automotive (SV) (261) 89 3,691 937
Medical Solutions (Med) 808 463 4,099 3,308
Osram 462 388 2,505 2,533
Corporate, eliminations (320) (1,270) (2,555) 2,143
Total Operations 1,329 2,799 19,670 24,065
Reconciliation to financial
statements - - 51,247 45,044
Other interest expense (304) (220) - -
Goodwill amortization and
purchased in-process R&D expenses (665) (253) - -
Gains on sales and dispositions
of significant business interests 4,065 7,826 - -
Other special items (1,185) (280) - -
Operations income before
income taxes/total assets/
total amortization,
depreciation and write-downs 3,240 9,872 70,917 69,109
Net capital
EBIT employed
Infineon Technologies (Infineon) (1,024) 1,670 6,471 5,709
Reconciliation to financial
statements (1) 74 3,272 3,144
Infineon income (loss) before
income taxes/total assets (1,025) 1,744 9,743 8,853
Income before Total assets
income taxes
Financing and Real Estate
Siemens Financial Services (SFS) 158 78 9,363 8,532
Siemens Real Estate (SRE) 213 201 3,469 3,590
Eliminations - - (65) (508)
Total Financing and Real Estate 371 279 12,767 11,614
Eliminations, reclassifications
and Corporate Treasury 92 344 (3,309) (7,922)
Siemens worldwide 2,678 12,239 90,118 81,654
Siemens AG
Segment Information....continued
As of and for the fiscal years ended September 30, 2001 and September 30, 2000
(in millions of EUR)
Amortization,
Capital depreciation and write-
spending(1) downs(2) (excl. goodwill
amortization)
2001 2000 2001 2000
Operations
Information and
Communication Networks (ICN) 2,291 604 435 355
Information and Communication
Mobile 543 618 400 254
Siemens Business Services (SBS) 484 559 342 268
Automation and Drives (A&D) 429 766 242 218
Industrial Solutions and Services
(I&S) 115 77 53 54
Siemens Dematic (SD) 78 56 63 51
Siemens Building Technologies (SBT) 326 217 163 144
Power Generation (PG) 351 262 211 182
Power Transmission and Distribution
(PTD) 215 141 78 72
Transportation Systems (TS) 164 74 55 42
Siemens VDO Automotive (SV) 447 345 339 162
Medical Solutions (Med) 1,034 2,294 203 94
Osram 416 465 283 260
Corporate, eliminations 1,468 2,645 265 649
Total Operations 8,361 9,123 3,132 2,805
Reconciliation to financial
statements - - - -
Other interest expense - - - -
Goodwill amortization and
purchased in-process R&D expenses - - 539 (3) 253 (3)
Gains on sales and dispositions
of significant business interests - - - -
Other special items - - 1,013 370
Operations income before income
taxes/total assets/
total amortization,
depreciation and write-downs - - 4,684 3,428
Amortisation,
depreciation and write-
downs(2)
Infineon Technologies (Infineon) 2,578 1,916 1,122 834
Reconciliation to financial
statements - - - -
Infineon income (loss)
before income taxes/total assets - - - -
Financing and Real Estate
Siemens Financial Services (SFS) 514 531 257 202
Siemens Real Estate (SRE) 203 174 201 188
Eliminations - - - -
Total Financing and Real Estate 717 705 458 390
Eliminations, reclassifications
and Corporate Treasury - - - -
Siemens worldwide 11,656 11,744 6,264 4,652
(1) Intangible assets, property, plant and equipment, acquisitions, and
investments.
(2) Includes amortization of intangible assets, depreciation of property, plant
and equipment, and write-downs of investments.
(3) Represents only goodwill amortization.
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