Porsche 2009 Annual Report Download - page 138

138 Financials
The profit or loss before tax from discontinued operations includes a positive effect from
the reclassification of other comprehensive income due to deconsolidation of €1,223 million (prior
year: €0 million). The income taxes thereon total €-333 million (prior year: €0 million).
The profit/loss after tax arising from the deconsolidation of operations is made up of an
expense of €15,902 million from the deconsolidation of the Volkswagen group and income of
€9,027 million from the deconsolidation of Porsche Zwischenholding GmbH group. Both amounts
correspond to the portion in profit or loss that is attributable to recognizing any investment retained
in the former subsidiaries at its fair value at the date when control is lost.
The carrying amounts of the assets and liabilities which were derecognized in connection
with the deconsolidation of the discontinued operations can be summarised by major categories as
follows:
€ million
Carrying
amount
Intangible assets 32,635
Property, plant and equipment, leased assets and
investment property 43,414
Investments accounted for at equity 8,361
Inventories 16,128
Receivables from financial services 61,849
Cash and cash equivalents 24,696
Other assets 34,230
Provisions for pensions and similar obligations 13,942
Other provisions and tax provisions 25,184
Financial liabilities 82,735
Other liabilities 43,612
As a consideration for the assets and liabilities derecognized, the remaining investments in
Porsche Zwischenholding GmbH and Volkswagen AG were recognized at their fair value which totals
€15,941 million.
The discontinued operations contributed to the cash inflows and outflows in the statement of cash
flows as follows:
€ million 2009/10 2008/09
Cash flow from operating activities 4,607 6,767
Cash flow from investing activities (including cash funds disposed) – 25,863 145
Cash flow from financing activities – 17 4,398