Annual Report 2010 - Knorr-Bremse AG.

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Interest rate: 5.16% p. a.
Salary increases: 3.00% p. a.
Annuity trend: 1.00% to 1.50% p. a.
Pension plan accruals are determined using the modified discount value method. Our foreign subsidiaries
cover pension plans and similar commitments by accruals which are calculated according to
principles similar to those used in Germany. Only in the United States of America are pension plans
and similar commitments of major significance to the net worth, financial position and results of the
Group. Here the projected unit credit method has been used, based on the following parameters:
Interest rate: 6.24% p. a.
Salary increases: 3.50% p. a.
Annuity trend: up to 3.00% p. a.
Liabilities are stated at their settlement value.
Consolidated companies
In addition to Knorr-Bremse AG, 19 German and 93 foreign subsidiaries over which Knorr-Bremse AG
can exert a direct or indirect controlling influence are included in the consolidated financial statements.
Investments in one German and two foreign companies are shown in the consolidated financial statements
as investments in associated companies. Eight foreign subsidiaries have not been included in
consolidation because of their minor significance with respect to the net worth, financial position and
results of the Group. For the same reason, three German companies are not shown as associated companies,
but instead are stated at acquisition cost.
During fiscal year 2010 the Group acquired the following companies, which are included in consolidation:
Heine Resistors GmbH, Dresden/Germany
Heine Resistors (Suzhou) Co. Ltd., Suzhou/China
Sigma Coachair (UK) Ltd., Newhall/Great Britain
Sigma Coachair Group (China) Co. Ltd., Changzhou/China
Sigma Coachair Group Pty. Ltd., Wetherill Park, Sydney/Australia
Sigma Coachair Systems (US) Inc., Chicago/USA
Sigma Transit Systems Pty. Ltd., Wetherill Park, Sydney/Australia