english - About Heraeus

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In connection with the capitalization of internally generated intangible assets, a basic distinction is made between research and development costs. Research costs are recognized as expenses in the income statement as incurred; development costs for future products or technologies are capitalized if the recognition criteria according to IAS 38 are cumulatively met. If the requirements for capitalization are not met, the expenses are recognized in the income statement in the year of their origin. Property, plant, and equipment The items of property, plant, and equipment are recognized at cost. The acquisition costs cover the purchase price including the directly attributable costs that are incurred in order make the asset ready for operation within its intended usage. In addition to individual costs (production material and wages), the costs of conversion for internally generated assets also include appropriate parts of the material and production overheads incurred in production (including depreciations). Borrowing costs are generally capitalized if the criteria for a qualifying asset are met. An asset qualifies for capitalization of borrowing costs if the manufacturing process lasts in excess of a period of twelve months. Financing costs that can be allocated directly are capitalized in full and financing volume that cannot be allocated directly are capitalized proportionately. Grants, subsidies, or similar public sector grants-in-aid are deducted from the cost of the item. The items of property, plant, and equipment are usually depreciated using the straight-line method based on the economic useful life of the asset. Useful lives and depreciation methods for property, plant, and equipment are reviewed periodically to ensure that depreciation methods and periods reflect the expected economic benefit of the assets. Depreciation is primarily based on the following useful lives: 19
20 asset item UseFUl liFe in YeaRs Buildings 15 – 50 Leasehold improvements 5 – 25 Technical equipment and machinery 10 – 25 Other equipment, furniture, and fixtures 4 – 30 If the recoverable amount of an asset of property, plant, and equipment has fallen below its carrying amount, an impairment loss is recognized and the asset reduced to its recoverable amount in accordance with IAS 36. If the reasons for impairment losses recognized in previous years no longer exist, the impairment loss is reversed. As for other intangible assets, the reversal of an impairment loss may only be recognized up to a maximum of the amortized carrying amount or the lower recoverable amount. Significant components are identified. They are recognized and measured according to IAS 16 separately. Associates and other investments Investments in associates are valued at the respective share in equity using the equity method. In the case of different balance sheet dates, the interim financial statements for those companies are taken into account. Shares in non-consolidated affiliated companies and investments are recognized at the lower of cost or fair value. Leases Assets from lease agreements are reported as property, plant, and equipment if all the risks and rewards incidental to the ownership of the assets according to IAS 17 are substantially transferred to the companies of the <strong>Heraeus</strong> Group (finance lease). Lease agreements are classified using the useful lives for property, plant, and equipment and the prevailing interest rates for borrowing unless specified in the lease agreement.
Page 1 and 2: Consolidated Financial statements 2
Page 3 and 4: 02 Consolidated Balance sheet of He
Page 5 and 6: 04 Consolidated income statement of
Page 7 and 8: 06 Consolidated Cash Flow statement
Page 9 and 10: 08 notes to the Consolidated Financ
Page 11 and 12: 10 lead to a shift between two item
Page 13 and 14: 12 In business combinations, the ac
Page 15 and 16: 14 Application of new or amended st
Page 17 and 18: 16 aCCoUntinG poliCies Cash and cas
Page 19: 18 The precious metal trading stock
Page 23 and 24: 22 The classification depends on th
Page 25 and 26: 24 If hedging transactions used to
Page 27 and 28: 26 Pension Regulation II 2001, whic
Page 29 and 30: 28 Scope of consolidation The conso
Page 31 and 32: 30 of Midwest Instrument Company, a
Page 33 and 34: 32 It was possible to cover the pre
Page 35 and 36: 34 (3) The following table shows th
Page 37 and 38: 36 (5) Intangible assets in € mil
Page 39 and 40: 38 Other intangible assets At € 0
Page 41 and 42: 40 In financial year 2012, impairme
Page 43 and 44: 42 (8) (9) Other non-current assets
Page 45 and 46: 44 (10) Trade payables Trade payabl
Page 47 and 48: 46 Non-current provisions for perso
Page 49 and 50: 48 The provisions for pensions and
Page 51 and 52: 50 The fair value of the plan asset
Page 53 and 54: 52 Of the total expenses for pensio
Page 55 and 56: 54 in € million deC. 31, 2012 deC
Page 57 and 58: 56 notes to tHe Consolidated inCome
Page 59 and 60: 58 (17) Other operating income Othe
Page 61 and 62: 60 (20) Financial result The financ
Page 63 and 64: 62 The following deferred tax asset
Page 65 and 66: 64 The item “Change in other net
Page 67 and 68: 66 Interest rate swaps come under t
Page 69 and 70: 68 addition, credit lines with vari
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70 Values of derivative financial i
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72 in € million deC. 31, 2012 FIN
Page 75 and 76:
74 Notes to the income statement Th
Page 77 and 78:
76 Analysis of maturities The follo
Page 79 and 80:
78 otHeR disClosURes Contingent lia
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80 Auditor’s expenses The expense
Page 83 and 84:
82 name oF CompanY ReGisteRed oFFiC
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84 name oF CompanY ReGisteRed oFFiC
Page 87 and 88:
86 aUditoR’s RepoRt We have audit
Page 90:
Heraeus Holding GmbH Corporate Comm
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english - About Heraeus

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