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Software AG GB 2012, englisch

179 06 HIGHLIGHTS 08 LETTER FROM THE MANAGEMENT BOARD 12 THE COMPANY 38 SOFTWARE AG SHARE 46 CORPORATE GOVERNANCE 58 REPORT OF THE SUPERVISORY BOARD 68 GROUP MANAGEMENT REPORT 155 CONSOLIDATED FINANCIAL STATEMENTS 245 FURTHER INFORMATION CONSOLIDATED INCOME STATEMENT 156 STATEMENT OF COMPREHENSIVE INCOME 157 CONSOLIDATED BALANCE SHEET 158 CONSOLIDATED STATEMENT OF CASH FLOWS 160 CONSOLIDATED STATEMENT OF CHANGES 162 IN EQUITY NOTES TO THE CONSOLIDATED FINANCIAL 164 STATEMENTS RESPONSIBILITY STATEMENT 243 AUDITORS‘ REPORT 245 Pension provisions are measured by recognizing actuarial gains and losses directly in equity. Accordingly, pension provisions are reported at the full present value of the defined obligation, less the fair value of the reinsurance cover taken out for defined benefit obligations or the fair value of the plan assets accumulated to cover pension entitlements. The changes in the actuarial gains/losses compared to the previous year are excluded from income and allocated directly to retained earnings. Software AG does not incur any obligations for defined contribution plans other than premium payments on life insurance policies and statutory pension plans and contributions to special-purpose funds. These payments are recognized in profit or loss for the period. Deferred income Deferred income consists of advance payments received from customers for maintenance services to be rendered in future periods. The deferred item is reversed and taken to income in the period in which the service is rendered. Changes to accounting and valuation methods To better identify relevant information relating to the effects of business transactions, recognition of other taxes was adjusted within the Consolidated Income Statement. Other taxes are reported as part of the operating result in the Consolidated Income Statement for 2012. They were previously reported under “earnings before taxes.” In accordance with IAS 8 the corresponding figures were adjusted accordingly in these financial statements. The adjustments had no impact on Group earnings or shareholders’ equity for 2012 or past reporting periods. First-time application of accounting rules The following amended accounting rules were applied for the first time in 2012, but had no or no significant impact: • Amendment of IFRS 7 “Financial Instruments: Disclosures”–Transfer of financial assets • Amendment of IAS 12 “Income Taxes”–Deferred taxes–Recognition of underlying assets