PDF (10.9MB) - ThyssenKrupp AG
PDF (10.9MB) - ThyssenKrupp AG
PDF (10.9MB) - ThyssenKrupp AG
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3.6 Consolidated financial statements Notes to the consolidated financial statements<br />
The values in use for the CGUs are determined based on both historical<br />
data and expected forecast market performance. The values assigned<br />
to the key assumptions are generally consistent with external<br />
information sources.<br />
Significant goodwill<br />
CGU<br />
(Business Area)<br />
Steel Europe<br />
(Steel Europe)<br />
Americas<br />
(Elevator Technology)<br />
Uhde<br />
(Plant Technology)<br />
Marine Systems<br />
(Marine Systems)<br />
Carrying<br />
amount of<br />
goodwill<br />
allocated to<br />
CGU<br />
(million €)<br />
314<br />
832<br />
236<br />
1,040<br />
Proportion of<br />
total goodwill<br />
(in %)<br />
9%<br />
25%<br />
7%<br />
31%<br />
Consolidated financial statements<br />
154 | 155<br />
31 CGUs were identified in the <strong>ThyssenKrupp</strong> Group, of which 25<br />
report goodwill. Total goodwill, e.g. including goodwill of disposal<br />
groups and discontinued operations, amounts to €3,378 million as of<br />
September 30, 2011. 72% of this goodwill relates to the CGUs Steel<br />
Europe, Americas, Uhde and Marine Systems, as shown in the<br />
following table:<br />
Description of key assumptions of<br />
budgeting Procedure used to determine key assumptions<br />
- Selling prices<br />
- Procurement prices<br />
- Business cycles<br />
- Procurement prices<br />
- Exchange rates and interest rates<br />
- Market growth rates<br />
- Business cycles<br />
- Market growth rates<br />
Internal estimates of sales and purchasing departments concerned and<br />
consideration of economic assumptions set by <strong>ThyssenKrupp</strong> <strong>AG</strong> and external<br />
market studies<br />
Consideration of economic assumptions set by <strong>ThyssenKrupp</strong> <strong>AG</strong> and external<br />
market studies<br />
Consideration of economic assumptions set by <strong>ThyssenKrupp</strong> <strong>AG</strong> and external<br />
market studies as well as deduction of future demand and propensity to invest<br />
from the current development of end-product prices<br />
Naval shipbuilding: Consideration of long-term budget plans of potential<br />
customers and if appropriate concrete negotiations with customers, tightened<br />
competitive situation and at the same time decreased budgets of the customer<br />
countries<br />
The annual impairment test resulted in an impairment in the CGUs of the Stainless Global business area because the recoverable amount was<br />
less than the respective carrying amount of the CGU.<br />
The change in the carrying amount of goodwill (excluding goodwill of investments accounted for using the equity method) is as follows:<br />
million €<br />
Steel<br />
Europe<br />
Steel<br />
Americas<br />
Materials<br />
Services<br />
Elevator<br />
Technology<br />
Plant<br />
Technology<br />
Components<br />
Technology<br />
Marine<br />
Systems<br />
Stainless<br />
Global Corporate Total*<br />
Balance as of<br />
Sept. 30, 2009 313 0 383 1,196 297 224 1,043 331 15 3,802<br />
Currency differences 1 0 21 82 8 14 1 6 0 133<br />
Acquisitions/(divestitures) 0 0 (15) 5 5 0 0 0 0 (5)<br />
Additions<br />
Reclassification due<br />
to the presentation<br />
0 0 0 1 2 0 0 0 0 3<br />
as assets held for sale 0 0 0 0 0 0 (120) 0 0 (120)<br />
Impairment<br />
Balance as of<br />
0 0 (2) (3) 0 0 0 0 0 (5)<br />
Sept. 30, 2010 314 0 387 1,281 312 238 924 337 15 3,808<br />
Currency differences (1) 0 (4) 0 (2) 4 (1) (2) 0 (6)<br />
Acquisitions/(divestitures) 0 0 5 22 0 0 (1) 0 0 26<br />
Additions<br />
Reclassification due to<br />
the presentation as<br />
0 0 0 9 0 0 0 0 0 9<br />
assets held for sale/ disposal 0 0 (64) 0 0 0 (60) (45) 0 (169)<br />
Impairment<br />
Balance as of<br />
0 0 0 0 0 0 0 (290) 0 (290)<br />
Sept. 30, 2011 313 0 324 1,312 310 242 862 0 15 3,378<br />
* excluding goodwill of investments accounted for using the equity method