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3. Special items

Net income attributable to shareholders of Fresenius SE & Co. KGaA for the year 2012 in the amount of €926 million includes several special items.

An expense in the amount of €17 million resulted from Fresenius Medical Care’s renegotiation of the license, distribution, manufacturing and supply agreement for iron products sold under the Venofer® brand and from a donation to the American Society of Nephrology.

The special item relating to the acquisition of Liberty Dialysis Holdings, Inc. by Fresenius Medical Care in an amount of €34 million is described in note 9, Investment gain.

Furthermore, net income attributable to shareholders of Fresenius SE & Co. KGaA for the year 2012 includes special items in the amount of -€29 million relating to the takeover offer to the shareholders of RHÖN-KLINIKUM AG.

The special items comprised the following:

€ in millions EBIT Investment gain Other financial result Net income attributable to shareholders of Fresenius SE & Co. KGaA
Earnings 2012, adjusted       938
Venofer / donation Fresenius Medical Care -86     -17
Investment gain Fresenius Medical Care   109   34
Financing costs RHÖN-KLINIKUM AG     -35 -25
Other costs RHÖN-KLINIKUM AG -6     -4
Total special items -92 109 -35 -12
Earnings 2012 according to U.S. GAAP 2012       926

€ in millions EBIT Investment gain Other financial result Net income attributable to shareholders of Fresenius SE & Co. KGaA
Earnings 2012, adjusted       938
Venofer / donation Fresenius Medical Care -86     -17
Investment gain Fresenius Medical Care   109   34
Financing costs RHÖN-KLINIKUM AG     -35 -25
Other costs RHÖN-KLINIKUM AG -6     -4
Total special items -92 109 -35 -12
Earnings 2012 according to U.S. GAAP 2012       926

The consolidated statement of income for the year 2011 ultimately included several special items relating to the acquisition of APP Pharmaceuticals, Inc. (since 2012: Fresenius Kabi USA, Inc.) in 2008. The table below reconciles adjusted earnings to earnings according to U.S. GAAP in 2011.

€ in millions Other financial result Net income attributable to shareholders of Fresenius SE & Co. KGaA
Earnings 2011, adjusted   770
Mandatory Exchangeable Bonds (mark-to-market) -105 -85
Contingent Value Rights (mark-to-market) 5 5
Earnings 2011 according to
U.S. GAAP 2011
  690

€ in millions Other financial result Net income attributable to shareholders of Fresenius SE & Co. KGaA
Earnings 2011, adjusted   770
Mandatory Exchangeable Bonds (mark-to-market) -105 -85
Contingent Value Rights (mark-to-market) 5 5
Earnings 2011 according to
U.S. GAAP 2011
  690

For further information regarding Mandatory Exchangeable Bonds and Contingent Value Rights see note 11, Other financial result.

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