Engineering

3.6 Consolidated financial statements Notes to the consolidated financial statements
Components Technology
This business area offers efficient and innovative components for the
automotive, construction and engineering sectors as well as for wind
turbines.
Marine Systems
This business area is a supplier for naval surface vessels, submarines
and premium-segment yachts. After the restructuring and the
consummation of the disposals the business area will focus its
activities on the construction of naval vessels.
Stainless Global
This business area is a supplier of flat stainless steel products and high
performance materials such as nickel alloys and titanium. The
business area also includes the new stainless steel mill in the USA.
This segment is classified as a discontinued operation.
Corporate
Corporate comprises the Group’s head office including management of
the business areas. It also includes the business services activities in
the areas of finance, communications, IT and human resources. In
addition, part of Corporate is real estate not used in operating that is
managed and utilized centrally as well as inactive companies that could
not be assigned to an individual business area.
Corporate EBIT consists of:
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Corporate administration (223) (302)
Pension expenses (25) 19
R&D promotion (17) (7)
Risk and insurance services 11 9
Special items (3) (28)
Other Corporate companies (11) (8)
EBIT Corporate Headquarters (268) (317)
EBIT Business Services (6) (12)
EBIT IT-Services (2) (17)
EBIT Real Estate (15) (31)
EBIT Corporate (291) (377)
Consolidation
Consolidation essentially contains the elimination of intercompany
profits in inventories and the reversal of intercompany interest income.
The accounting principles for the segments are the same as those
described for the Group in the summary of significant accounting
principles. In accordance with the management approach which is
applicable to segment reporting all figures presented are inclusive of
disposal groups and discontinued operations.
As of October 01, 2010 ThyssenKrupp switched its key earnings
performance indicator from EBT to EBIT. Contrary to the previous EBT
the new indicator EBIT can not be taken directly from the consolidated
statement of income prepared in accordance with the IFRS rules.
Factors that can only be optimized and assessed at Group level – in
particular non-operating financial income/expense and income taxes –
are disregarded in assessing operating units. Details on the definition
of the new earnings indicator are presented in the “Value based
management” chapter of the management report to the Group. Prior
year figures have been adjusted accordingly; this refers in particular to
the changed presentation of capitalized borrowing costs which were
recognized in the statement of income within other financial
income/expense and are included now in interest expense.
Inter-segment pricing is determined on an arm’s length basis.