The good prospects are based on the all-embracing ... - ALNO AG

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80 ConsoLidatEd FinanCiaL statEmEnts | aCCountinG poLiCiEs Lease payments under operating leases <strong>are</strong> recognized in the consolidated income statement as an expense by the straight-line method over the term of the lease. <strong>The</strong> other liabilities <strong>are</strong> shown at their repayment amounts. A trade account payable or other liability is derecognized when the obligation underlying the liability is discharged, terminated or extinguished. <strong>The</strong> trade accounts payable which were derecognized in 2011 following a waiver of repayment <strong>are</strong> derecognized through profit or loss in the result from reorganization. 5. MaJor dIsCreTIoNarY deCIsIoNs, assuMPTIoNs aNd esTIMaTes discretionary decisions <strong>The</strong> following discretionary decisions have been made by the company's management in conjunction with the application of recognition and measurement policies: Two leasing companies <strong>are</strong> consolidated as special purpose entities, as the companies <strong>are</strong> economically controlled by ALNO AG. <strong>The</strong> leasing companies concerned have for many years leased buildings required for operations and an associated property on the company site exclusively to ALNO AG. Contracts concluded by the lessor in conjunction with the leased asset must be approved by ALNO AG. Any resultant payment obligations <strong>are</strong> charged out to ALNO AG in the full amount. ALNO AG will be granted the right to purchase the leased assets on expiry of the lease. assumptions and estimates When preparing the consolidated financial statements, assumptions and estimates have been made with impact on recognition and the amount of the assets, liabilities, income, expenses and contingent liabilities reported. When assuming a going concern, the assumptions and estimates essentially concern the corporate planning, as well as the occurrence and implementation of various conditions (see B.1. "Basis for preparation of the financial statements"). <strong>The</strong> assumptions and estimates made in conjunction with impairment testing of the <strong>good</strong>will and fixed assets essentially concern the forecast cash flows and discounting factors (see B.4. "Impairment test for <strong>good</strong>will" and C.8. "Write-downs on intangible assets, property, plant and equipment"). Further uncertainties exist in conjunction with the capitalization of future tax reliefs, due to the assumptions made with regard to the expected date of occurrence and amount of future taxable income in the next four years. Future tax reliefs have also been calculated on the assumption that there will be no harmful change of ownership in the future eliminating the tax loss carryforwards in accordance with Sections 8 (4) and 8c of the Corporation Tax Act (KStG) (see C.10. "Income taxes"). Assumptions and estimates <strong>are</strong> also made when determining the economic useful life of the fixed assets (see B.4. "Intangible assets" and "Property, plant and equipment"), as well as when determining the parameters for calculating the provisions for pensions (see D.11. "Provisions for pensions") and pre-retirement part-time working arrangements (see D.12. "Other provisions"). <strong>The</strong> provision for warranty claims has been calculated on the basis of assumptions and estimates concerning the period of time between delivery date and warranty period, as well as on the future warranty encumbrances (see D.12. "Other provisions"). Valuation allowances on trade accounts receivable <strong>are</strong> likewise <strong>based</strong> on estimates concerning, in particular, the cash inflow expected in the future (see D.6. "Trade accounts receivable"). All these assumptions and estimates <strong>are</strong> <strong>based</strong> on the knowledge currently available at the time of preparing the consolidated financial statements. Although these assumptions and estimates <strong>are</strong> to the best of the management's knowledge, the actual results may deviate from these.
C. notes to the consolidated income statement <strong>The</strong> consolidated income statement has been prep<strong>are</strong>d according to the nature of expense method. 1. sales revenue in '000 EUR Revenue from the sale of <strong>good</strong>s 2011 2010 444,747 458,997 Other revenue 8,063 8,300 Total 452,810 467,297 Other revenue is essentially the result of product-related incidental sales to the Group's usual customers or to other third parties, such as the sale of materials that <strong>are</strong> no longer required. This item additionally includes sales revenue in the amount of EUR 0 thousand (previous year: EUR 46 thousand) for services rendered. 2. Changes in inventories and capitalized <strong>good</strong>s and services for own account in '000 EUR 2011 2010 Changes in inventories 31 – 2,409 Other capital. <strong>good</strong>s and services for own acc. 851 416 Total 882 – 1,993 ConsoLidatEd FinanCiaL statEmEnts | notEs to thE ConsoLidatEd inComE statEmEnt 3. other operating income Other operating income is made up as follows: in '000 EUR 2011 2010 Income from the disposal of assets 31 399 Income relating to other periods 2,089 2,460 Income from the reversal of specific valuation allowances 158 792 Insurance benefits received 112 82 Rental income 580 577 Currency gains 312 478 Other income 2,988 2,274 Total 6,270 7,062 Income relating to other periods mainly comprises income from the reversal of provisions, as well as from derecognition of liabilities. <strong>The</strong> other income comprises income from social services, refunds from the Federal Employment Agency, income from payments received on derecognized accounts receivable and grants or subsidies on advertising costs. Rental income primarily comprises the income received from letting office premises and business premises to various tenants at the Bad Salzuflen location. As a rule, the leases can be terminated with three months' notice effective at the end of a calendar quarter. Currency gains <strong>are</strong> netted against currency losses in the amount of EUR 371 thousand (previous year: EUR 707 thousand). 81
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2011 annual report
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The Alno brAnds <s
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Enthusiasm and passion Consolidated
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6 histoRy histoRy 1927 1927 Albert
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The good prospects are based on the all-embracing ... - ALNO AG

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