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100 Group Financial Statements Notes Changes to estimates Random House determines the amount of the provision for returns by multiplying the gross revenues for the last twelve months, taking a return curve into account, with the average return rate. Th e proportion of the returns estimated but not yet received to gross revenues for each of the past twelve months is estimated by means the return curve. In 2009, Random House U.S. performed extensive investigations to ascertain whether the assumed twelve-month return curve is reasonable. Th e analyses were based on improved information on inventories at customers and on reviews within the division and customer surveys with regard to changes to return behavior. Based on these analyses, Random House North America cut the period for the return curve used in the calcula- tion from twelve to nine months. Th e change in the estimate led to an increase in EBIT of €23 million. Th is eff ect is carried under the item “Special items”. When determining the interest rate for discounting pension and similar obligations in the euro zone, corporate bonds with a long term were once again included as of December 31, 2009, by the actuary. Th ese bonds had been disregarded as of December 31, 2008, due to the turbulence on the fi nancial markets. Th ereby, the applied interest rate increases. Without these eff ects, the actuarial gains in 2009 would have been €129 million lower. Bertelsmann Annual Report 2009
Company | Group Management Group Financial | Corporate Governance | Report of the | Boards/Mandates | Additional Information Report Statements Supervisory Board Income Statement Statement of Comprehensive Income Balance Sheet Cash Flow Statement Statement of Changes in Equity Notes Notes to the Income Statement and the Balance Sheet 1 Revenues in € millions 2009 2008 Revenues from selling goods and merchandise 7,216 7,676 Revenues from providing services 6,946 7,338 Revenues from grant of use of assets 1,333 1,383 Gross revenues 15,495 16,397 Discounts (131) (148) Revenues 15,364 16,249 Revenues from customer-specific construction contracts amounted to €20 million (previous year: €23 million). Th is total includes “Revenues from providing services” of €18 million. A 2 Other Operating Income in € millions 2009 2008 Extra and supplementary income 202 268 Currency gains 4 – Prior-year income and reimbursements 132 145 Gains from disposals of non-current assets 13 29 Sundry operating income 139 167 490 609 Income from the reversal of provisions is generally recorded in the same income statement line item to which it was charged when the provision was initially recognized. Sundry operating income includes performance-linked government grants of €18 million (previous year: €17 million). Also included are earnings totaling €9 million from damages paid following the loss to fi re of a main paper storage facility in Spain. 3 Personnel Costs in € millions 2009 2008 Wages and salaries 3,586 3,666 Statutory social security contributions 642 626 Profi t sharing 65 75 Expense for pensions and similar obligations 97 99 Other employee benefi ts 16 14 4,406 4,480 Bertelsmann Annual Report 2009 further €62 million (previous year: €64 million) of the revenues carried under this item stem from exchanges, in particular at RTL Group and Gruner + Jahr. Gains from foreign currency translation for the assets and liabilities denominated in foreign currencies (without the amounts recorded within the meaning of IAS 39) totaled €24 million in the year under review (previous year: €-25 million). In the previous year these were carried under “Other operating expenses”. 101
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Annual Report 2009 Digitization Inn
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Bertelsmann at a Glance Key Figures
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Corporate Divisions at a Glance RTL
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Content 8 - 23 175 Years of Bertels
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8 175 Years of Bertelsmann The Lega
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10 175 Years of Bertelsmann 1835 -
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22 175 Years of Bertelsmann Future
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24 The Management Letter from the C
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26 The Management Letter from the C
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28 The Management Executive Board B
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30 The Group Bertelsmann Essentials
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32 The Group Bertelsmann Essentials
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34 The Group Corporate Responsibili
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36 The Group Corporate Responsibili
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38 40 RTL Group 42 Random House 44
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40 Divisions RTL Group RTL Group is
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42 Divisions Random House Random Ho
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44 Divisions Gruner + Jahr Th e pri
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46 Divisions Arvato Arvato is one o
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48 Divisions Direct Group Direct Gr
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50 Spirit 175 Years Entrepreneurshi
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- 2 - 1 | Bertelsmann Corporate Cen
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1 | Portrait, 1971 2 | In New York,
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O n January 2, 1947, the fi rst wor
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1 3 imprints have enough to do? How
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F all 1973. The Middle East oil cri
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M umbai, summer 2007: Torsten-Jörn
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trigued by the articles about forei
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C an a person create 27 magazines i
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C ologne Cathedral towers majestica
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Instead, the company began holding
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A home-made antenna on the roof of
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D üsseldorf, February 11, 2003, 4:
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O n March 18, 2003, readers of the
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Annabelle Long is astonished. The y
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wants to start reading the third, t
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150 Group Financial Statements Note
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152 Corporate Governance Corporate
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154 Report of the Supervisory Board
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156 Report of the Supervisory Board
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158 Boards/Mandates Supervisory Boa
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160 Boards/Mandates Executive Board
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162 Responsibility Statement Respon
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164 Additional Information Financia
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Future
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