Audi 2009 Annual Report Download - page 193

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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 oppor-
tunity 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 subsidi-
aries are principally companies with only limited business operations.
The following table shows the composition of the Audi Group:
Total 2009 2008
AUDI AG and fully consolidated subsidiaries
Germany 7 7
Other countries 15 15
Investments accounted for using the equity method
Other countries 1 1
Non-consolidated subsidiaries
Germany 14 14
Other countries 14 14
Total 51 51
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.
By virtue of their inclusion in the Audi Group’s Consolidated Financial Statements, quattro
GmbH (Neckarsulm), Audi Retail GmbH (Ingolstadt), Audi Vertriebsbetreuungsgesellschaft mbH
(Ingolstadt), Audi Zentrum Hamburg GmbH (Hamburg) and Audi Zentrum Berlin GmbH (Berlin)
have fulfilled the requirements of Section 264, Para. 3 of the German Commercial Code (HGB)
and make use of the exemption rule.
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).
On the basis of this interest, the following values are attributable to the Audi Group:
EUR million 2009 2008
Non-current assets 187 158
Current assets 404 390
Non-current liabilities 53 29
Current liabilities 324 367
Revenues 1,232 886
Net profit for the period 110 57