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3.6 Consolidated financial statements Notes Notes to to the the consolidated financial financial statements As of the reporting date trade accounts receivable were as follows: million € Carrying amount thereof: thereof: not impaired but past due as of balance sheet date thereof: Trade accounts receivable neither impaired nor past due as of balance sheet date past due up to 30 days past due 31 to 60 days past due 61 to 90 days past due 91 to 180 days past due 181 to 360 days past due more than 360 days 160 impaired as of balance sheet date Sept. 30, 2010 5,882 4,975 364 110 65 105 55 47 161 Sept. 30, 2011 5,059 4,238 324 96 63 98 56 48 136 Amounts due from customers for construction work are calculated as follows: million € Sept. 30, 2010 Sept. 30, 2011 Contract costs incurred and recognized contract profits (less recognized losses) 2,374 3,252 Less advance payments received (1,759) (2,456) Total 615 796 Advanced payments received are collateralized by assets of €395 million (2010: €177 million). Sales from construction contracts of €6,682 million were recognized in the period (2009/2010: €6,101 million). 11 Other financial assets million € The Group primarily sells credit insured trade accounts receivable under existing programs on a revolving basis as well as under one-time transactions. The amount of receivables sold and derecognized from the balance sheet as of September 30, 2011, was €89 million (2010: €341 million), resulting in net proceeds in the amount of €88 million (2009/2010: €339 million). In some cases, when the Group sells receivables it retains rights and immaterial obligations; these retained interests mainly consist of servicing as well as providing limited cash reserve accounts. The recognized assets and provided guarantees which serve as a cash reserve account amounted to €3 million (2010: €16 million) as of September 30, 2011. Sept. 30, 2010 Sept. 30, 2011 current non-current current non-current Loans and receivables 350 56 353 17 Available-for-sale financial assets 9 71 6 54 Derivatives that do not qualify for hedge accounting (Financial assets held for trading) 172 — 137 — Derivatives that qualify for hedge accounting 154 — 82 — Total 685 127 578 71 Other financial assets in the amount of €107 million (2010: €157 million) have a remaining term of more than 1 year. As of September 30, 2011 cumulative impairments amount to €18 million (2010: €41 million) regarding current other financial assets and €50 million (2010: €44 million) regarding non-current other financial assets.
3.6 Consolidated financial statements Notes to the consolidated financial statements As of the reporting date other financial assets were as follows: million € Consolidated financial statements 160 | 161 Carrying amount thereof: thereof: not impaired but past due as of balance sheet date thereof: Other financial assets neither impaired nor past due as of balance sheet date past due up to 30 days past due 31 to 60 days past due 61 to 90 days past due 91 to 180 days past due 181 to 360 days past due more than 360 days impaired as of balance sheet date Sept. 30, 2010 812 757 5 2 0 1 1 2 44 Sept. 30, 2011 649 600 3 1 1 1 1 7 35 12 Other non-financial assets million € Sept. 30, 2010 Sept. 30, 2011 current non-current current non-current Advance payments on intangible assets — 20 — 29 Advance payments on property, plant and equipment — 180 — 178 Advance payments to suppliers of inventories 556 — 797 — Other advance payments and prepayments 204 — 192 — Reimbursement rights 94 — 88 — Others 792 — 486 246 Total 1,646 200 1,563 453 Other non-financial assets in the amount of €556 million (2010: €235 million) have a remaining term of more than 1 year. As of September 30, 2011 cumulative impairments amount to €29 million (2010: €23 million) regarding current other non-financial assets and €224 million (2010: €3 million) regarding non-current other non-financial assets. Impairments regarding non-current other non-financial assets mainly relate to the Steel Americas business area. 13 Total Equity €2 million, €7 million and €10 million of the balance of cumulative other comprehensive income result from associates as of Sept. 30, 2009, Sept. 30, 2010 and Sept. 30, 2011, respectively. €3 million (2009/2010: €5 million) of the changes of cumulative other comprehensive income result from associates. The following table shows the changes of the foreign currency translation adjustment which is part of cumulative other comprehensive income: million € Foreign currency translation adjustment Balance as of Sept. 30, 2009 (333) Change in unrealized gains/(losses), net 457 Net realized (gains)/losses 14 Balance as of Sept. 30, 2010 138 Change in unrealized gains/(losses), net 70 Net realized (gains)/losses (17) Balance as of Sept. 30, 2011 191
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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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Letter to shareholders To assist ou
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Contents Our mission statement C2 F
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To our shareholders To our sharehol
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To our shareholders Wilhelm Segerat
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Management report on the Group Mana
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Fully consolidated group companies
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Making things more effi ciently The
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4.1 Additional information Multi-ye
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4.5 Additional information Index 4.
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4.6 Additional information List of
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4.8 Additional information Contact
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Engineering

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