| download table |
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€ million |
Investment |
Investments |
Other |
Financial | ||||
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Acquisition cost |
|
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Balance as of Jan. 1, 2010 |
140.2 |
12.4 |
64.6 |
77.0 | ||||
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Additions |
0.8 |
0.6 |
11.7 |
12.3 | ||||
|
Disposals |
-6.9 |
-0.2 |
-0.3 |
-0.5 | ||||
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Other changes |
– |
– |
2.8 |
2.8 | ||||
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Changes resulting from application of equity method |
-43.0 |
– |
– |
– | ||||
|
Exchange-rate differences |
20.6 |
0.4 |
11.5 |
11.9 | ||||
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Balance as of Dec. 31, 2010 |
111.7 |
13.2 |
90.3 |
103.5 | ||||
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Depreciation |
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| ||||
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Balance as of Jan. 1, 2010 |
– |
1.9 |
– |
1.9 | ||||
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Disposals |
– |
-0.2 |
– |
-0.2 | ||||
|
Exchange-rate differences |
– |
0.4 |
– |
0.4 | ||||
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Balance as of Dec. 31, 2010 |
– |
2.1 |
– |
2.1 | ||||
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Carrying amounts as of Dec. 31, 2010 |
111.7 |
11.1 |
90.3 |
101.4 | ||||
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Acquisition cost |
|
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| ||||
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Balance as of Jan. 1, 2011 |
111.7 |
13.2 |
90.3 |
103.5 | ||||
|
Additions |
18.4 |
– |
34.9 |
34.9 | ||||
|
Disposals |
– |
-0.2 |
-1.4 |
-1.6 | ||||
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Other changes |
– |
– |
3.7 |
3.7 | ||||
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Changes resulting from application of equity method |
-10.2 |
– |
– |
– | ||||
|
Exchange-rate differences |
4.6 |
0.1 |
2.6 |
2.7 | ||||
|
Balance as of Dec. 31, 2011 |
124.5 |
13.1 |
130.1 |
143.2 | ||||
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Depreciation |
|
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|
| ||||
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Balance as of Jan. 1, 2011 |
– |
2.1 |
– |
2.1 | ||||
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Exchange-rate differences |
– |
0.1 |
– |
0.1 | ||||
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Balance as of Dec. 31, 2011 |
– |
2.2 |
– |
2.2 | ||||
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Carrying amounts as of Dec. 31, 2011 |
124.5 |
10.9 |
130.1 |
141.0 |
In 2011, further shareholder loans of €34.9 million (2010: €11.7 million) were issued to Siltronic Samsung Wafer Pte. Ltd., Singapore. These were granted on normal market terms. The addition was shown under other financial assets. Over and above the interest and repayment agreements, the loan agreements grant WACKER the right – as it already the case with existing agreements – to convert the loan into equity (call option). The call options have differing exercise periods of until, at the longest, March 31, 2016.
Investments in joint ventures and associates accounted for using the equity method increased in 2011 following the contribution of capital into the associated company Dow Corning (ZJG) Holding Co. Private Ltd., Singapore, in the amount of €18.4 million.
Further financial information on associated companies and joint ventures is contained in Note 23.