Porsche 2011 Annual Report Download - page 174
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The reporting period presented in these consolidated financial statements is the fiscal year 2011
covering a period of twelve months, while SFY 2010 presented as comparative period comprises a period of
five months. As a result, the figures presented for the reporting period and the comparative period are not fully
comparable.
[1] Other operating income
Other operating income breaks down as follows:
The income from stock price hedging derivatives in the comparative period resulted from cash-settled
stock option transactions relating to Volkswagen AG shares, which in the past served to hedge the increase in
the investment in Volkswagen AG.
The income from valuation of options on non-stock company shares reported for the comparative
period contains the change in the fair value of the put option of Porsche SE relating to the remaining shares
held by Porsche SE in Porsche Zwischenholding GmbH.
[2] Personnel expenses
Notes to the consolidated income statement and
consolidated statement of cash flows
€ million 2011 SFY 2010
Income from reversal of provisions and accruals 11 8
Income from stock price hedging derivatives 0 102
Income from valuation of options on non-stock company shares 0 158
Sundry operating income 1 1
12 269
€ million 2011 SFY 2010
Wages and salaries 13 11
Social security contribution, pension and other benefit costs 1 0
14 11
Employees (annual average)
Salaried staff 32 37
Employees acc. to Sec. 314 (1) No. 4 HGB 32 37
Other 5 7
Total 37 44
174 FINANCIALS