Audi 2006 Annual Report Download - page 180
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1 7 8
Provision has been made for all discernible storage and inventory risks by way of appro-
priate write-downs. Individual downward valuation adjustments are made on all inventories
as soon as the probable proceeds from their sale or use are lower than the carrying
amounts of the inventories. The estimated selling price less the estimated costs incurred up
until their sale is regarded as the net realisable value of inventories.
Securities held as current assets are measured at market value, in other words at the quoted
market price at the balance sheet date.
Cash and cash equivalents are measured at nominal value.
The actuarial measurement of defined benefit liabilities is based on the Projected Unit
Credit Method for defined retirement benefit plans as specified in IAS 19 (Employee Bene-
fits). This method takes account of pensions and entitlements to future pensions known at
the balance sheet date as well as anticipated future pay and pension increases.
In accordance with IAS 37, provisions are recognised if an obligation existing towards third
parties is likely to lead to cash outflows and where the amount of the obligation can reliably
be estimated.
Pursuant to IAS 37, the other provisions for all discernible risks and uncertain liabilities
are reported at their probable cost and not offset against recourse entitlements.
Provisions with over one year to maturity are measured at their discounted settlement
value at the balance sheet date. Interest rates in real terms of between 2.0 and 2.3 percent
are used as the discount rates. The settlement value also includes the cost increases to be
taken into account at the balance sheet date, according to IAS 37.
Notes to the consolidated income statement
1 Revenue
The revenue of the group, by brand, is made up as follows:
EUR million 2006 2005
Audi brand 23,404 19,370
Lamborghini brand 322 226
Volkswagen brand 2,772 2,611
SEAT brand 374 347
Škoda brand 193 225
Bentley brand 3 –
Total revenue from vehicles 27,068 22,779
Other sales 4,074 3,812
Total revenue 31,142 26,591
Revenue is categorised by region for the purpose of segment reporting, along the same
lines as those used for internal group steering and reporting.
The other sales constitute goods and services supplied to affiliated companies and sales
to third parties.
Securities, cash and cash
equivalents
Defined benefit liabilities
Other provisions