Porsche 2009 Annual Report Download - page 176

176 Financials
Expenses from valuation of options on non-stock company shares contain the change in the
fair value of the call option of Volkswagen AG relating to the remaining shares in Porsche Zwischen-
holding GmbH.
Sundry operating expenses of discontinued operations mainly include expenses from de-
rivative financial instruments. For continuing operations this item mainly contains legal and consult-
ing fees.
[7] Profit/loss from investments accounted for at equity
In the fiscal year 2009/10, the profit/loss from investments accounted for at equity from
continuing operations contains the profit/loss from the investments held by Porsche SE in Volks-
wagen AG and Porsche Zwischenholding GmbH from the respective dates of deconsolidation. As the
purchase price allocations to be performed in connection with their inclusion at equity for the Por-
sche Zwischenholding GmbH group and the Volkswagen group were not yet completed when the
consolidated financial statements were being prepared, the profit/loss from the investments in
these companies that is attributable to Porsche SE was determined provisionally.
The amount presented in continuing operations in the comparative period relates to the
profit or loss from the investment in Volkswagen AG for the period from 1 July 2008 to the date of
initial consolidation on 5 January 2009.
The profit or loss from investments accounted for at equity breaks down as follows:
Continuing Discontinued Reclassification Total
€ million operations operations acc. to IFRS 5
2009/10
Income from initial equity accounting 7,841 0 0 7,841
Profit/loss from ongoing equity accounting
(before purchase price allocation) 997 371 – 371 997
Effects from provisional purchase price allocation – 606 0 0 – 606
Profit/loss from ongoing equity accounting 391 371 – 371 391
Dilutive effect from increase in capital – 1,440 0 0 – 1,440
6,792 371 – 371 6,792
2008/09
Profit/loss from ongoing equity accounting (before
purchase price allocation) 448 336 – 336 448
Effects from purchase price allocation – 48 0 0 – 48
Profit/loss from ongoing equity accounting 400 336 – 336 400
400 336 – 336 400