#APPLE FINANCIAL STATEMENTS 2017 PRO#
#APPLE FINANCIAL STATEMENTS 2017 CODE#

Production costs comprise, in addition to direct costs, an appropriate portion of production and material overheads and depreciation of property, plant and equipment. Inventories are measured at the lower of average acquisition or production costs and daily values. Loans bearing no interest or bearing interest below market conditions are discounted to present value.

In case of quoted financial assets impairment is particularly assumed to be other than temporary if the stock exchange price is either 20% continuously over a period of six months or 10% below its acquisition costs on a monthly average over the past twelve months. This apВ plies when objective evidence, particularly events or changes in circumstances, indicate a significant or other than temporary decline in value. Special reserve with an equity portion includes reserves recogВ nized and transferred to assets pursuant to Section 6b of the GerВ man Income Tax Act (Einkommensteuergesetz, EStG) as well as special allowances pursuant to Section 4 of the German Assisted Areas Act (FГ¶rdergebietsgesetz) exceeding the depreciation acВ cording to HGB in fiscal years prior to the transition to the reguВ lations of the German Accounting Law Modernisation Act (BilanzВ rechtsmodernisierungsgesetz, BilMoG).ДЇinancial assets: Impairment losses are recognized if the deВ cline in value is presumed to be other than temporary. Technical equipment and machines mostly 10 yearsД®quipment leased to others mostly 3 to 5 years

Useful lives of property, plant and equipmentДЇactory and office buildings 20 to 50 years Additions with acquisition or production costs of more than в‚¬150 and up to в‚¬410 are capitalized and fully depreciated in the year of acquisition. NonВcurrent assets that are subject to wear and tear, movable, and capable of being used independently, are expensed immediВ ately if their acquisition or production costs amount up to в‚¬150.

#APPLE FINANCIAL STATEMENTS 2017 PRO#

Items are depreciВ ated on a pro rata temporis basis in the year of acquisition. In certain cases, the declinВ ing balance method is applied, whereby a switch is made from the declining balance to the straightВline method as soon as the latter leads to higher depreciation expense. Property, plant and equipment is generally depreciВ ated using the straightВline method. Property, plant and equipment: The components of producВ tion costs are described in the context of the explanations for inventories. The expected useful life is based on the expected use of the acquired businesses and is deВ termined in particular by economic factors such as future growth and profit expectations, synergy effects and employee base. The capitalization option for internally generated intangible assets is not used.ДЄcquired goodwill is generally amortized systematically over the expected useful life of five to 15 years. Items are amortized on a pro rata temporis basis in the year of acquisition. Intangible assets acquired for consideration are capitalized at acquisition costs and amortized on a straightВline basis over a maximum of five years or, if longer, the contractually agreed useВ ful life. Negative interest from financial investment is presented as a deВ duction in interest income, and positive interest from borrowing as a deduction in interest expenses. Proceeds from selling and leasing products, providing services and granting licenses are presented as revenue. Amounts are preВ sented in millions of euros (в‚¬ million).

#APPLE FINANCIAL STATEMENTS 2017 CODE#

The Annual Financial Statements of Siemens AG have been preВ pared in accordance with the regulations set forth in the German Commercial Code (Handelsgesetzbuch, HGB) and the German Stock Corporation Act (Aktiengesetz, AktG). The Company is registered in the Commercial Register (HandelsВ register) maintained by the local courts in Berlin Charlottenburg, Germany, under the entry number HRB 12300, and in Munich, Germany, under the entry number HRB 6684.

Siemens AG has registered offices in Berlin and Munich, Germany.

Total shareholders' equity and liabilitiesДЎ Conditional Capital as of Septemand 2016 amounted to в‚¬1,081 million and в‚¬1,081 million, respectively. Provision for pensions and similar commitments Thereof negative interest from financial investmentДЄctive difference resulting from offsetting

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