Engineering

2.4 Management report on on the Group Financial position
Pages 174–176 174–176
Pages 159–160 159–160
construction orders were the main reason for the €426 million increase in other current non-financial
liabilities. The €2,680 million increase in liabilities associated with assets held for sale/disposal included
€2,470 million associated with the disposal of the Stainless Global business area initiated in fiscal year
2010/2011 and €396 million associated with the sale of the Xervon group initiated in August 2011. This was
partly offset by a €179 million adjustment of the disposal group due to the termination of negotiations to sell
parts of the Marine Systems business area in fiscal 2010/2011.
Assets not recognized and
off-balance financing instruments
In addition to the assets recognized in the balance sheet, the Group also uses non-recognized assets. These
are mainly leased or rented assets (operating leases). More details on this can be found under Note 21.
The main off-balance financing instruments we use are factoring programs. More details can be found under
Note 10.
One important intangible asset is the ThyssenKrupp brand, which strengthens the image of our Group
companies on their markets and is therefore under constant further development. Our longstanding and
trusting relationships with suppliers and customers are also of great value as they make us independent of
sudden market fluctuations. Close cooperation with our business partners frequently enables us to get
involved in their development projects at an early stage. Our Group’s recognized technological capabilities
pay particular dividends in the international plant construction sector. Our managers and employees are
another important asset. Their knowledge of technology, markets and partners make a key contribution to
our good reputation and the value of the company.
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