ANNUAL REPORT 2011 - Kuehne + Nagel

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NOTES TO THE BALANCE SHEET 2 Development of investments CHF million Investments in Investments in Total consolidated affiliated companies companies Cost Balance as of January 1, 2011 2,130 2 2,132 Additions 292 – 292 Disposals –174 – –174 Balance as of December 31, 2011 2,248 2 2,250 Cumulative amortisation Balance as of January 1, 2011 960 2 962 Additions 2 – 2 Disposals –5 – –5 Balance as of December 31, 2011 957 2 959 Carrying amount As of January 1, 2011 1,170 – 1,170 As of December 31, 2011 1,291 – 1,291 A schedule of the Group's main subsidiaries and Kuehne + Nagel's share in the respective equity is shown on pages 114 to 119 of the Consolidated Financial Statements. 3 Receivables from Group companies Financial Statements 2011 _ _ _ _ _ _ Notes to the Balance Sheet CHF million Dec. 31, 2011 Dec. 31, 2010 KN Ibrakom FZCO., Dubai 5 – Kuehne + Nagel Ltd., Nairobi 4 – Kuehne + Nagel Real Estate Holding AG, Schindellegi 4 4 Kuehne + Nagel Liegenschaften AG, Schindellegi 24 25 Kuehne + Nagel Investment AB, Stockholm – 1 Kuehne + Nagel S.A., Caracas – 1 Kuehne + Nagel GmbH, Vienna 7 9 Kuehne + Nagel Services Ltd., Vancouver – 52 Other Group companies 9 6 Total 53 98 123
124 Financial Statements 2011 _ _ _ _ _ _ Notes to the Balance Sheet 4 Liabilities towards Group companies CHF million Dec. 31, 2011 Dec. 31, 2010 Kuehne + Nagel Ltd., Dublin 1 2 OY Kuehne + Nagel Ltd., Helsinki 4 13 Kuehne + Nagel S.a.r.l., Luxembourg 24 26 Kuehne + Nagel S.A.S., Paris 17 75 Kuehne + Nagel N.V., Rotterdam 24 11 Kuehne + Nagel NV/SA, Antwerp 13 15 Kuehne + Nagel Ltd., Toronto 37 – Kuehne + Nagel spol.s.r.o., Prague 2 – Kuehne + Nagel Investment S.a.r.l., Luxembourg 17 3 Kuehne + Nagel Investment SL, Madrid 40 35 Kuehne + Nagel Investment AB, Stockholm 2 – Kuehne + Nagel (AG & Co.) KG, Hamburg 97 69 Kuehne + Nagel Inc., New York 65 52 Kuehne + Nagel Management AG, Schindellegi 22 16 Kuehne + Nagel AG, Zurich 31 24 Nacora Holding AG, Schindellegi 16 76 Nacora Agencies AG, Schindellegi 59 56 Total 471 473 5 Treasury shares CHF million Dec. 31, 2011 Dec. 31, 2010 Treasury shares 1 45 51 Total 45 51 1 See note 9. Treasury shares are valued at average cost or lower market value. The “reserves for treasury shares” within equity are valued at average cost of treasury shares.
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NETWORK AND PRODUCT PORTFOLIO KUEHN
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EXPANSION NETWORK AND PRODUCT PORTF
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BEIJING / CHINA MUMBAI / INDIA
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CHINA Kuehne + Nagel offers an exte
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INDIA The new automotive competence
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KUEHNE + NAGEL GROUP KEY DATA CHF m
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2 The Board of Directors KARL GERNA
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4 Report of the Board of Directors
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6 Report of the Board of Directors
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8 REPORT OF THE MANAGEMENT BOARD St
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10 Report of the Managament Board K
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12 Report of the Managament Board u
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14 Status Report _ _ _ _ _ _ Income
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16 Status Report _ _ _ _ _ _ Financ
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18 Status Report _ _ _ _ _ _ Invest
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20 Status Report _ _ _ _ _ _ Shareh
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22 REPORT OF THE BUSINESS UNITS Sea
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24 Report of the Business Units _ _
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34 Sustainability _ _ _ _ _ _ Human
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36 Sustainability _ _ _ _ _ _ Kuehn
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38 Sustainability _ _ _ _ _ _ Kuehn
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40 Sustainability _ _ _ _ _ _ Quali
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42 Global Network KUEHNE + NAGEL WO
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44 CORPORATE GOVERNANCE Kuehne + Na
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46 Corporate Governance Klaus-Micha
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48 Corporate Governance Dr. Wolfgan
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50 Corporate Governance On invitati
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52 Corporate Governance Management
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54 Corporate Governance The members
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56 CONSOLIDATED FINANCIAL STATEMENT
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58 Consolidated Financial Statement
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Page 89 and 90: 72 Consolidated Financial Statement
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Page 149 and 150: CORPORATE TIMETABLE 2012 March 5, 2
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ANNUAL REPORT 2011 - Kuehne + Nagel

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