2005-2006 Financial Statements and Management Report

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22 TAXES ON INCOME
Taxes on income include own corporation and trade tax for the
past 2005/2006 fiscal year arising after offsetting against the tax
loss carryforwards from the previous year, as well as tax refunds
for previous years.
Income taxes impact income from ordinary activities in the
amount of €125.1 million and extraordinary income in the amount
of €49.1 million.
23 AUDITORS’ FEES
For the services of the auditors KPMG Deutsche Treuhand-Gesellschaft,
Aktiengesellschaft, Wirtschaftsprüfungsgesellschaft in the
2005/2006 fiscal year and the previous period, the following fees
were stated as expenses:
million €
Audit of financial statements
Other audit-related or valuation services
Tax consultancy services
Other services
Total
2004/2005
2.1
0.1
0.1
0.1
2.4
2005/2006
The auditors’ fees include above all the fee for the audit of
the parent-company and consolidated financial statements of
ThyssenKrupp ag, as well as the auditors’ review of the interim
reports. The variance against the previous year is attributable in
the amount of €0.9 million to the additional services performed
in 2004/2005 in connection with the audit of the ifrs opening
balance sheet and the review of the individual quarters.
1.0
0.2
0.1
0.9
2.2
The fees for audit-related services mainly include the fees for
advice relating to the accounting for ongoing and planned business
transactions.
The fees for tax consultancy are in particular fees for tax advisory
services relating to advice given to employees on foreign
assignments.
The other fees are mainly fees for project-related advisory services.
24 SUPERVISORY BOARD AND
EXECUTIVE BOARD COMPENSATION
Total compensation to the members of the Executive Board for the
2005/2006 fiscal year amounts to €23.1 million (previous year
€12.4 million). In addition, the Executive Board members received
€7.2 million from the payout of the 5th installment of the ltmi and
the 1st installment of the mti.
Total compensation to former members of the executive boards
of Thyssen ag and Fried. Krupp ag Hoesch-Krupp and their
survivors amounts to €12.1 million (previous year €10.0 million).
Pension obligations to former members of the Executive Board
and their survivors are accrued in the amount of €131.3 million
(previous year €105.9 million).
For the 2005/2006 fiscal year, compensation to the members
of the Supervisory Board on the basis of the proposed dividend of
€1.00 per share including attendance fees amounts to €2.7 million
(previous year €2.3 million).
The members of the Executive Board and Supervisory Board
are presented on pages 87-89.
25 GERMAN CORPORATE GOVERNANCE CODE
ThyssenKrupp ag complies with all recommendations of the
Government Commission on the German Corporate Governance
Code as amended on June 12, 2006, published by the Federal
Ministry of Justice in the official section of the electronic Federal
Gazette (“Bundesanzeiger”), and also complied with all recommendations
of the Code in the period from October 01, 2005 to
July 24, 2006 (Code version of June 02, 2005) and from July 25
to September 30, 2006 (Code version of June 12, 2006, published
on July 24, 2006).