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112 Group Financial Statements Notes 13 Property, Plant and Equipment Land, rights Plant, techni- Other Advance Total equivalent cal equipment equipment, payments and to land and and machinery fi xtures, furni- construction in buildings ture and offi ce progress in € millions Acquisition/production cost equipment Balance as of 1/1/2009 2,042 3,575 1,266 69 6,952 Currency translation differences 4 (6) 4 – 2 Acquisitions 3 17 5 – 25 Disposals and reclassifi cations according to IFRS 5 (7) (1) 4 (1) (5) Additions 31 63 70 68 232 Disposals (4) (125) (73) (7) (209) Reclassifi cations and other changes 20 61 (1) (68) 12 Balance as of 12/31/2009 Depreciation/amortization 2,089 3,584 1,275 61 7,009 Balance as of 1/1/2009 899 2,599 894 1 4,393 Currency translation differences (1) (11) 3 – (9) Acquisitions 1 8 3 – 12 Disposals and reclassifi cations according to IFRS 5 (10) (1) 3 – (8) Regular additions 60 183 110 – 353 Impairment losses 24 135 3 2 164 Disposals (2) (118) (68) – (188) Write-ups – – (1) (1) (2) Reclassifi cations and other changes (5) 15 2 – 12 Balance as of 12/31/2009 966 2,810 949 2 4,727 Carrying amount as of 12/31/2009 1,123 774 326 59 2,282 Carrying amount as of 12/31/2008 1,143 976 372 68 2,559 Prinovis Germany took an impairment of €-111 million on assets eff ective June 30, 2009. Th e main reason for this is a signifi cant decline in revenues in the gravure printing market. A recovery in the printing business is not expected until 2011. A program launched in 2009 to increase competitiveness through repositioning, restructuring and cost-cutting will be able to produce results over the medium term. Th e impairment was based on the fair value less cost to sell calculated as the net present value of future cash fl ows. Th e impairment test as of June 30, 2009 was based on a discount rate of 7.02 percent. Running this test again eff ective December 31, 2009, with a discount rate of 7.21 percent did not identify any further need for impairment. At Arvato Print Italy, the ongoing recession in Italy, the collapse of the advertising markets in the magazine sector, falling order volumes and unfavorable price developments led to a signifi cant downturn in revenues and earnings. Th e impairment test as of December 31, 2009, identifi ed a required impairment of €30 million. Th is was taken into account in the form of unscheduled depreciation for technical equipment and machinery. Th e impairment test was based on a discount rate of 7.21 percent. Th e cash fl ow forecasts for the impairment test are based on reasonable and justifi able assumptions by management and are the best estimate of the underlying economic conditions. Th e Spanish real estate crisis necessitated an impairment test for the real estate holdings of Motorpresse Spain. Th e property, with the building on it, was evaluated based on a DCF model, taking into account an average annual market rent and a discount rate of 9.0 percent. Th e result was a devaluation of the property with its building in the amount of €-13 million. Impairments on property, plant and equipment totaled €-164 million. 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 14 Investments Accounted for Using the Equity Method in € millions 12/31/2009 12/31/2008 Proportionate equity 180 169 Goodwill 312 327 492 496 Total assets of investments accounted for using the equity method amounted to €1,538 million as of December 31, 2009 (previous year: €1,612 million). Th ese were off set by total liabilities of €920 million as of December 31, 2009 (previous year: €1,036 million). Revenues totaled €1,511 million (pre- Th e following investments accounted for using the equity method are listed companies. Th e fair values of these investments as of December 31, 2009, were as follows: Bertelsmann Annual Report 2009 vious year: €1,843 million). Net income totaled €116 million (previous year: €171 million). Th ese disclosures represent accounting totals for signifi cant investments accounted for using the equity method. Th e values are calculated on the basis of a 100 percent interest. Fair <strong>Values</strong> of Investments Accounted for Using the Equity Method in € millions 12/31/2009 12/31/2008 Buch.de – 8 Antena 3 353 192 353 200 15 Other Financial Assets At amortized cost At fair value Total in € millions Current 12/31/2009 12/31/2008 12/31/2009 12/31/2008 12/31/2009 12/31/2008 Loans 5 15 – – 5 15 Marketable securities available-for-sale Securities, initial recognition at fair value 1 1 1 – 2 1 through profi t or loss – – 384 – 384 – Non-current 6 16 385 – 391 16 Loans 94 89 – – 94 89 Investments in affi liates 2 25 22 – 24 25 Investments available-for-sale 52 67 71 56 123 123 Marketable securities available-for-sale Securities, initial recognition at fair value 2 4 42 31 44 35 through profi t or loss – – 81 470 81 470 150 185 216 557 366 742 113
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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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30 The Group Bertelsmann Essentials
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1 | Portrait, 1971 2 | In New York,
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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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wants to start reading the third, t
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1835 1921 1950 1967
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Future
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