Audi 2008 Annual Report Download - page 228

209
Consolidated Financial
Statements
170 Income Statement
171 Balance Sheet
172 Cash Flow Statement
173 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
174 Development of
fixed assets 2008
176 Development of
fixed assets 2007
178 General information
183 Recognition and
measurement principles
189 Notes to the Income
Statement
196 Notes to the Balance Sheet
200 Equity
203 Liabilities
209 Additional disclosures
227 Events occurring subsequent
to the balance sheet date
228 Statement of Interests
held by the Audi Group
31 Trade payables
EUR million Dec. 31, 2008 Dec. 31, 2007
Trade payables to
third parties 2,820 2,236
affiliated companies 475 550
associated companies 78
Total 3,302 2,794
The fair values of the trade payables correspond to the carrying amounts due to their short-term
nature.
The customary retention of title applies to liabilities from deliveries of goods.
ADDITIONAL DISCLOSURES
32 Capital management
The primary goal of capital management within the Audi Group is to assure financial flexibility
in order to achieve business and growth targets, and to enable continuous, steady growth in the
value of the Company. The capital structure is steered specifically with this in mind, and the
economic environment is kept under constant observation. The objectives, methods and pro-
cedures for optimizing capital management remained unchanged on December 31, 2008.
The equity and financial liabilities from the transfer of profit are summarized in the following
table:
EUR million Dec. 31, 2008 Dec. 31, 2007
Equity 10,328 8,355
as % of total capital 84 81
Financial liabilities from the transfer of profit 1,906 1,943
Current financial liabilities 673 527
Non-current financial liabilities 3 4
Liabilities from the transfer of profit 1,230 1,412
as % of total capital 16 19
Total capital 12,234 10,298
Around 99.55 percent of the issued capital is held by Volkswagen AG (Wolfsburg), with which a
control and profit transfer agreement exists.
In the 2008 fiscal year, equity rose by 23.6 percent as compared to the prior year. This was sub-
stantially attributable to a cash injection to the capital reserve by Volkswagen AG and to the
allocation to other retained earnings.