Annual Report 2010 - Knorr-Bremse AG.

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160 CONSOLIDATED BALANCE SHEET Consolidated Balance Sheet as at December 31, 2010 Assets Notes Dec. 31, 2010 TEUR Dec. 31, 2009 TEUR Purchased intangibles (3) 217,277 190,702 Fixed assets (4) 517,001 478,239 Investments (5) 65,569 36,351 Intangibles, fixed assets and investments (2) 799,847 705,292 Inventories (6) 219,337 132,985 Accounts receivable, trade (7) 689,066 493,974 Other assets (7) 92,133 96,748 Other marketable securities 12 6 Cash and cash equivalents (8) 312,867 154,650 Current assets 1,313,415 878,363 Prepaid expenses (9) 12,182 80,765 Deferred tax assets (10) 68,713 0 Balance sheet total 2,194,157 1,664,420 Equity and Liabilities Notes Dec. 31, 2010 TEUR Dec. 31, 2009 TEUR Capital stock (11) 67,600 67,600 Capital reserves (12) 153 153 Retained earnings (13) 313,008 153,717 Unappropriated consolidated net income (25) 262,556 232,670 Minority interests 110,544 78,639 Group equity 753,861 532,779 Pension plan accruals (14) 192,257 160,390 Other accrued liabilities (15) 528,521 400,428 Accruals 720,778 560,818 Accounts payable, banks 110,615 167,346 Accounts payable, trade 492,782 337,768 Other liabilities 111,467 62,679 Liabilities (16) 714,864 567,793 Deferred income 3,018 3,030 Deferred tax liabilities (10) 1,636 0 Balance sheet total 2,194,157 1,664,420
CONSOLIDATED STATEMENT OF INCOME 161 Consolidated Statement of Income for the Fiscal Year from January 1 to December 31, 2010 Notes 2010 TEUR 2009 TEUR Net sales 3,712,163 2,760,947 Changes in inventories 2,832 (25,831) Own work capitalized 272 162 Total operating performance 3,715,267 2,735,278 Other operating income (18) 154,943 94,951 Cost of materials (19) (1,912,745) (1,390,243) Personnel expenses (20) (720,864) (640,531) Depreciation and amortization on purchased intangibles and fixed assets (21) (146,863) (117,670) Other operating expenses (22) (677,250) (531,028) Financial results (23) (10,972) (3,536) Income before taxes 401,516 147,221 Extraordinary expenses (24) (31,840) 0 Taxes on income (130,295) (48,492) Net income (25) 239,381 98,729 Minority interests in results of consolidated subsidiaries 30,690 6,398
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Annual Report | 2010 Knorr-Bremse G
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Main Majority-owned Subsidiaries of
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1/Overview 04 06 08 10 12 2010 at a
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Knorr-Bremse Rail Vehicle Systems i
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EXECUTIVE BOARD 7 Dr. Dieter Wilhel
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SUPERVISORY BOARD 9 Heinz Hermann D
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SUPERVISORY BOARD 11 Statements and
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14 The State and Development of Kno
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16 Development of the Knorr-Bremse
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18 the Daxing site a new production
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20 Overall assessment of the econom
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22 Regional developments by divisio
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24 for example, procured another 18
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26 ket also throttled back domestic
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28 Research and development As a te
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30 Social responsibility and sustai
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32 Report on risks and opportunitie
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34 Outlook In 2011 the Knorr-Bremse
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2/ Report Against a background of g
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40 RepoR t | RAIL Ve HICLe SYSteMS
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50 RepoRt | RAIL VeHICLe SYSteMS As
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58 RepoRt | RAIL VeHICLe SYSteMS
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60 RepoRt | RAIL VeHICLe SYSteMS In
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62 HIGHLIGHt RepoRt | RAIL VeHICLe
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68 HIGHLIGHt RepoRt | SYSteMe RAIL
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74 HIGHLIGHt RepoRt | SYSteMe RAIL
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Commercial Vehicle Systems Followin
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RepoR t 79 Markets There was a dist
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RepoRt 81 Partner with an excellent
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RepoR t 83 Market Successes Against
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RepoR t 85 North America Bendix bec
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RepoRt 87 Consistent performance th
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RepoRt 89 Asia Successes in China K
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RepoR t 91 PACCAR quality award The
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RepoR t 93 Projects During 2010 Kno
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RepoR t 95 By the end of the year u
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RepoRt 97 Focus on value creation A
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RepoR t 99 Products Reliable, safe,
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RepoR t 101 Tire Pressure Monitorin
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RepoRt 103 20-inch disc brake for C
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RepoR t 105 Service Knorr-Bremse’
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RepoR t 107 out progressively in th
Page 114 and 115: 110 RepoR t | KnoRR-BR e MSe GR o U
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Page 122 and 123: 118 RepoRt | KnoRR-BReMSe GRoUp CSR
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Page 139 and 140: 3/ Notes to the Consolidated Financ
Page 141 and 142: NOTES TO THE CONSOLIDATED FINANCIAL
Page 159 and 160: CONSOLIDATED CASH FLOW STATEMENT 15
Page 161 and 162: SEGMENT REPORT 157 Fiscal Year 2010
Page 163: INDEPENDENT AUDITOR’S REPORT 159
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