- 3. Special items
- 4. Sales
- 5. Cost of sales
- 6. Cost of materials
- 7. Personnel expenses
- 8. Selling, general and administrative expenses
- 9. Net interest
- 10. Other financial result
- 11. Taxes
- 12. Earnings per share
3. Special items
The consolidated statements of income for the years 2008 and 2009 include special items relating to the acquisition of APP. The tables below reconcile adjusted earnings to earnings according to US GAAP.
| in million € | Other financial result | Net income attributable to Fresenius SE |
|---|---|---|
| Earnings 2009, adjusted | 514 | |
| Mandatory Exchangeable Bonds (mark-to-market) | - 37 | - 26 |
| Contingent Value Rights (mark-to-market) | 6 | 6 |
| Earnings 2009 according to US GAAP | 494 |
| in million € | EBIT | Other financial result | Net income attributable to Fresenius SE |
|---|---|---|---|
| Earnings 2008, adjusted | 1,727 | 450 | |
| Purchase accounting adjustments | |||
| In-process R & D | - 272 | - 272 | |
| Inventory step-up | - 35 | - 22 | |
| Foreign exchange gain | 57 | 41 | |
| Other financial result | |||
| Mandatory Exchangeable Bonds (mark-to-market) | 28 | 20 | |
| Contingent Value Rights (mark-to-market) | 75 | 75 | |
| One-time financing expenses | - 35 | - 22 | |
| Earnings 2008 according to US GAAP | 1,477 | 270 |
Acquired in-process R & D activities were fully depreciated under US GAAP accounting principles valid at the closing date.
The inventory step-up reflects the excess of fair value over book value of acquired semi-finished and finished products. The amount was realized in line with the sale of the respective products.
For further information regarding Mandatory Exchangeable Bonds (MEB), Contingent Value Rights (CVR) and one-time financing expenses see note 10, Other financial result.
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2. Acquisitions and divestitures
2. Acquisitions and divestitures
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4. Sales
4. Sales