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N
Non-current assets
Assets which are intended for use in the long-term operations of a business enterprise.
A distinction is made between:
■ Property, plant and equipment
Land and buildings, technical equipment and machinery etc.
■ Intangible fixed assets
Goodwill/negative goodwill, patents, licenses, development costs etc.
■ Financial assets
Shares in affiliated and associated companies, other shareholdings, long-term securities etc.
C Further Information II. Glossary 298 299
P
Pension provisions
Provisions formed to cover retirement, invalidity and surviving dependants‘ pension and benefit commitments.
Pension obligations are calculated using the present value of the defined benefit obligations
method (IFRS) or the going-concern value method (HGB) and valued on the basis of actuarial assumptions
and calculations.
Personnel expenses
Expenses incurred by wages and salaries as well as social security, pension and other benefits. These
expenses do not include the interest component in allocations to pension provisions, which is
reported as part of the financial result.
R
ROCE
Return on capital employed. Ratio of EBIT to capital employed.
U
Unappropriated Retained Earnings
(also: profit shown on the balance sheet after appropriation to or transfer from reserves)
Profit after appropriation to, or transfer from, reserves as shown in the annual financial statements
of Salzgitter AG, calculated in accordance with the German Commercial Code. Dividend paid to shareholders
is determined by this result.
Further Information