Audi 2008 Annual Report Download - page 199

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GROUP OF CONSOLIDATED COMPANIES
In addition to AUDI AG, the Consolidated Financial Statements include all principal companies
in which AUDI AG can directly or indirectly determine the financial and business policy in order
to benefit from the activities of the companies (subsidiaries) in question. Consolidation begins
at that point in time when AUDI AG acquires the opportunity for control; it ends when that op-
portunity ceases to be available.
Associated companies are accounted for using the equity method.
Non-consolidated subsidiaries as well as participating interests are always reported at amor-
tized cost because no active market exists for the shares of these companies and no fair value
can reliably be determined with a justifiable amount of effort. Where there is evidence that the
fair value is lower, this fair value is recognized. These subsidiaries are principally companies with
only limited business operations.
The group of consolidated companies has been extended since December 31, 2007 to include
Audi Zentrum Hamburg GmbH (Hamburg) and Audi Zentrum Berlin-Charlottenburg GmbH & Co.
KG (Berlin) in addition to AUDI BRUSSELS S.A./N.V. (Brussels, Belgium), which must be consoli-
dated in accordance with IAS 27.13, sentence 2 (c).
No longer included in the group of consolidated companies, with effect from December 1, 2008,
is AUDI DO BRASIL E CIA. (Curitiba, Brazil), which was sold to Volkswagen do Brasil Indústria de
Veículos Automotores Ltda. (São Bernardo do Campo, Brazil).
The following table shows the composition of the Audi Group:
Total 2008 2007
AUDI AG and fully consolidated subsidiaries
Germany 7 5
Other countries 15 15
Investments accounted for using the equity method
Other countries 1 1
Non-consolidated subsidiaries
Germany 14 16
Other countries 14 12
Total 51 49
The principal companies within the Audi Group are listed following the Notes. The full list of
companies in which shares are held is recorded in the Commercial Register of Ingolstadt under
HR B 1 and is also available on the Audi website at www.audi.com/subsidiaries. This list can
additionally be requested directly from AUDI AG, Financial Communication/Financial Analysis,
I/FF-12, 85045 Ingolstadt, Germany.
Due to their inclusion in Audi’s Consolidated Financial Statements, quattro GmbH (Neckarsulm),
Audi Retail GmbH (Ingolstadt), Audi Vertriebsbetreuungsgesellschaft mbH (Ingolstadt) and
Audi Zentrum Hamburg GmbH (Hamburg) satisfy the conditions of Section 264, Para. 3 of the
German Commercial Code and make use of the exemption rule. Audi Zentrum Berlin-Charlotten-
burg GmbH & Co. KG (Berlin), which is fully consolidated, makes use of the exemption rule for
commercial partnerships in Section 264b of the German Commercial Code.
Participating interests in associated companies
As of the balance sheet date, FAW-Volkswagen Automotive Company, Ltd. (Changchun, China),
in which an interest of 10 percent is held, is accounted for using the equity method. The holding
is accounted for in accordance with the requirements of IAS 28.7 (a).