Porsche 2009 Annual Report Download - page 247

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Segment reporting was generally based on the same accounting policies as the consoli-
dated financial statements. Measurement methods were unchanged in comparison to earlier periods.
The executive board of Porsche Automobil Holding SE was responsible for allocating resources and
assessing the earnings power of the reportable segments. Before deconsolidation of the discontin-
ued operations, the segments were managed using profit before the financial result and income
taxes.
Intersegment receivables and liabilities, provisions, income and expenses as well as in-
tersegment profits and losses and reclassifications of discontinued operations in accordance with
IFRS 5 were eliminated in the column “Reconciliation/reclassification according to IFRS 5”. This
column also includes the items not allocable to the individual segments. The business relations
between the entities of the Porsche SE group were and are generally based on prices as agreed
with third parties.
Revenue from third-parties shows the share of each operating segment in the Porsche SE
group’s revenue. Intersegment revenue shows the revenue generated between the segments before
deconsolidation of the discontinued operations. Profit or loss before profit or loss from investments
accounted for at equity, financial result and income tax constitutes the segment result. The material
items of income and expenses disclosed in the prior year mainly include the results from stock
options. The non-cash expenses included therein amounted to €10,283 million and were allocable
to the Porsche segment. Segment assets include all assets except for income tax claims and as-
sets where the associated income and expenses are allocable to the financial result. In addition,
segment assets do not include investments accounted for at equity. The amortization and deprecia-
tion and additions to non-current assets relate to property, plant and equipment, intangible assets,
investment property and leased assets.
The group’s structure has changed fundamentally since the discontinued operations were
deconsolidated. Since then, the business activities of the Porsche SE group have been limited to
holding and managing investments. Porsche SE lost control over the operating subsidiaries upon
deconsolidation and now only has significant influence or joint control over them. Consequently, the
executive board of Porsche SE now manages the remaining investments in Porsche Zwischenhold-
ing GmbH and Volkswagen AG on an aggregated basis only, based on the profit or loss from in-
vestments accounted for at equity. As separate assets these two investments do not meet the
definition of operating segments, and segmentation in accordance with IFRS 8 is therefore not
prepared.
Based on the internal reporting and organizational structure that existed at the beginning of
the fiscal year until deconsolidation of Porsche Zwischenholding GmbH and Volkswagen AG, the
segment information is as follows: