Audi 2008 Annual Report Download - page 217
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198
All current other receivables and financial assets are due within one year of the balance sheet
date. The carrying amounts correspond to the fair values.
The other assets include EUR 8 (33) million in refund entitlements from the German Federal
Employment Agency for the implementation of partial early retirement plans.
The positive fair values of derivative financial instruments are composed as follows:
EUR million Dec. 31, 2008 Dec. 31, 2007
Transactions to hedge against
currency risks from future payment streams (cash flow hedges) 1,004 849
commodity price risks from future payment streams (cash flow hedges) 1 –
Assets from hedge-ineffective derivatives 129 52
Positive fair values of derivative financial instruments 1,134 901
20 Inventories
EUR million Dec. 31, 2008 Dec. 31, 2007
Raw materials and supplies 364 372
Work in progress 332 287
Finished goods and merchandise 2,651 2,002
Total 3,347 2,661
Inventories amounting to EUR 28,898 (28,450) million were recorded as cost of sales at the
same time that revenue from them was realized.
The impairment resulting from the measurement of inventories on the basis of sales markets
amounted to EUR 89 (30) million.
No reversal of write-downs was performed in the fiscal year.
Of the finished goods inventory, a portion of the company car fleet valued at EUR 94 (98) mil-
lion has been pledged as collateral for commitments toward employees under the partial early
retirement block model. The other reported inventories are not subject to any significant restric-
tions on ownership or disposal.
21 Trade receivables
EUR million Dec. 31, 2008 Dec. 31, 2007
Trade receivables from
third parties 1,223 1,148
affiliated companies 757 840
associated companies and participating interests 235 161
Total 2,215 2,149
The carrying amounts of the trade receivables correspond to the fair values due to their short-
term nature.
Those trade receivables that will not be realized until more than 12 months subsequent to the
balance sheet date amount to EUR 1 (3) million.
The value adjustments in relation to trade receivables are listed under Note 34.1, “Credit risks.”