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B Consolidated Annual Financial Statements/Notes V. Notes to the Consolidated Financial Statements of Salzgitter AG 258 259
(33) Minority Interests
This item contains the minority interests in the subscribed capital, the general reserves and the profits
and losses of the Group companies reported. The minority interests in equity relate to:
■ Hansaport Hafenbetriebsgesellschaft mbH, Hamburg,
■ Salzgitter Automotive Engineering Immobilien GmbH & Co. KG, Osnabrück,
■ Klöckner-Werke AG, Duisburg (including subsidiaries).
In the income statement, the result is reported proportionately under “Profit share of minority shareholders”.
Non-current Liabilities
(34) Provisions for Pensions and Similar Obligations
In Germany there is a contribution-related basic employee pension scheme embodied in law under
which pension payments are made on the basis of income and contributions. Once the company has
paid the relevant contributions to the state social security insurance authority and to pension funds
constituted under private law, it has no obligation to pay further benefits. The ongoing contribution
payments are reported as expenses in the relevant period.
In addition to this, the Salzgitter Group operates a company pension scheme based on defined benefit
plans that are covered by provisions. The Group also has some immaterial fund-financed pension
commitments.
The pension provisions are accounted for mostly by pension commitments undertaken by German
companies and contain the entire present value of the defined benefit obligations.
The provisions for similar obligations take account of bridging payments in the event of death.
Consolidated Annual
Financial Statements