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3.6 Consolidated financial statements Notes to the consolidated financial statements 3.6 Consolidated financial statements Notes to the consolidated financial statements Year ended September 30, 2010 In the year ended September 30, 2010 the Group acquired companies that are, on an individual basis, immaterial. Based on the values as of the acquisition date, these acquisitions affected in total the Group’s consolidated financial statements as presented below: million € Goodwill Year ended Sept. 30, 2010 10 Other intangible assets 5 Property, plant and equipment 16 Deferred tax assets 1 Inventories 6 Trade accounts receivable 10 Cash and cash equivalents 3 Total assets acquired 51 Deferred tax liabilities 1 Other current provisions 1 Current financial debt 19 Trade accounts payable 6 Other current non-financial liabilities 3 Total liabilities assumed 30 Net assets acquired 21 Non-controlling interest 1 Purchase prices 20 thereof: paid in cash and cash equivalents 13 thereof: paid in equity instruments 7 In addition, in the year ended September 30, 2010 the Group sold ThyssenKrupp Industrieservice and ThyssenKrupp Safway of the Materials Services business area as part of the portfolio optimization. Both businesses were classified as disposal groups as of September 30, 2009 because the disposals had been initiated; consummation took place end of November 2009 and mid of December 2009, respectively. These two disposals, the disposal of HSY as well as the disposals of companies that were, on an individual basis, immaterial, affected in total the Group’s consolidated financial statements as presented below based on the values as of the disposal date: million € Goodwill Year ended Sept. 30, 2010 97 Other intangible assets 5 Property, plant and equipment 173 Investments accounted for using the equity method 1 Other non-current financial assets 3 Deferred tax assets 2 Inventories 32 Trade accounts receivable 179 Other current financial assets 10 Other current non-financial assets 20 Current income tax assets 6 Cash and cash equivalents 6 Total assets disposed of 534 Accrued pension and similar obligations 54 Other non-current provisions 23 Deferred tax liabilities 27 Non-current financial debt 2 Other current provisions 45 Current income tax liablilities 15 Current financial debt 45 Trade accounts payable 35 Other current financial liabilities 142 Other current non-financial liabilities 71 Total liabilities disposed of 459 Net assets disposed of 75 Cumulative other comprehensive income 13 Non-controlling interest 1 Gain/(loss) resulting from the disposals 223 Selling prices 310 thereof: received in cash and cash equivalents 310 148
3.6 Consolidated financial statements Notes to the consolidated financial statements 03 Discontinued operations, disposal groups and single assets held for sale As part of the portfolio optimization program and of the decision about the concept for the further strategic development in May 2011, in fiscal year 2010/2011 as well as in fiscal year 2009/2010 the Group has initiated the sale and the disposal of several businesses. With one exception these transactions have not met the requirements of IFRS 5 for a presentation as a discontinued operation. Therefore, revenues and expenses will continue to be presented as income from continuing operations until the date of the disposal. Only the initiated disposal of the entire Stainless Global business area met the criteria for a presentation as a discontinued operation as of September 30, 2011. Therefore, all revenues and expenses of this business area will be presented in the consolidated statement of income in the line item “Discontinued operations (net of tax)”. The prior year presentation has been adjusted accordingly. For entities for which the disposal has not been completed as of September 30 of the respective fiscal year, the assets and liabilities of the disposal group and of the discontinued operation have been disclosed separately in the consolidated balance sheet as of September 30 of this fiscal year as “assets held for sale/disposal” and “liabilities associated with assets held for sale/disposal”. Year ended September 30, 2011 In April 2010 the disposal of parts of the Marine Systems business area has been initiated as part of the portfolio optimization program. The transaction comprises the disposal of Blohm + Voss Shipyards GmbH, operating in shipbuilding in particular of premium-segment yachts, and of Blohm + Voss Repair GmbH and Blohm + Voss Industries GmbH, both engaged in ship repairing and the manufacturing of components. Additionally, the construction capacities for civil ship construction of former HDW Gaarden are part of the disposal group. In the year ended September 30, 2011, the civil part of former HDW Gaarden has been disposed of. Due to the termination of the negotiations with the Abu Dhabi MAR Group on the complete takeover of the civil shipbuilding activities and a joint venture in naval surface ship building, as of June 30, 2011, assets held for sale of €133 million and liabilities associated with assets held for sale of €145 million have been reclassified to the corresponding balance sheet Consolidated financial statements 148 | 149 positions. As of September 30, 2011, the sale of the civil operations of Blohm + Voss is still part of the disposal group - this is the yacht building and repair and components businesses in Hamburg. The assets and liabilities of the disposal group as of September 30, 2011 are presented in the following table: million € Goodwill Sept. 30, 2011 180 Other intangible assets 11 Property, plant and equipment 54 Deferred tax assets 3 Inventories 45 Trade accounts receivable 102 Other current financial assets 3 Other current non-financial assets 3 Cash and cash equivalents 219 Assets held for sale 620 Accrued pension and similar obligations 45 Other non-current provisions 6 Other non-current financial liabilities 3 Other current provisions 14 Current income tax liabilities 5 Current financial debt 80 Trade accounts payable 30 Other current financial liabilities 3 Other current non-financial liabilities 139 Liabilities associated with assets held for sale 325 End of April 2011 the Group initiated the disposal of the Metal Forming Group in the Steel Europe business area. The group produces highquality chassis and body components in Germany, France, the UK, Spain, Poland, Turkey and China. After the approval by the European cartel authorities the sale to the Spanish Gestamp Automoción S.L. has been consummated in July 2011 with the exemption of the Chinese activities. In the context with the outstanding sale of the Chinese activities an impairment loss of €13 million on property, plant and equipment resulting from the write-down of the assets to fair value less costs to sell were recorded in cost of sales. The assets and liabilities of the Chinese activities which are still part of the disposal group as of September 30, 2011 are presented in the following table:
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Annual Report 2010/2011 At the cent
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Our mission statement We are Thysse
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Our capabilities Material We combin
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Making tomorrow possible Our engine
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Letter to shareholders Dr.-Ing. Hei
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Engineering

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