Audi 2009 Annual Report Download - page 210

207
Consolidated Financial
Statements
178 Income Statement
179 Statement of Recognized
Income and Expense
180 Balance Sheet
181 Cash Flow Statement
182 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
184 Development of fixed assets
in the 2009 fiscal year
186 Development of fixed assets
in the 2008 fiscal year
188 General information
192 Recognition and
measurement principles
199 Notes to the Income Statement
205 Notes to the Balance Sheet
209 Liabilities
215 Additional disclosures
236 Events occurring subsequent
to the balance sheet date
237 Statement of Interests
held by the Audi Group
The positive fair values of derivative financial instruments are composed as follows:
EUR million Dec. 31, 2009 Dec. 31, 2008
Cash flow hedges to hedge against
currency risks from future payment streams 606 1,004
commodity price risks from future payment streams 90 1
Other derivative financial instruments 118 129
Positive fair values of derivative financial instruments 815 1,134
20 Inventories
EUR million Dec. 31, 2009 Dec. 31, 2008
Raw materials and supplies 324 364
Work in progress 297 332
Finished goods and merchandise 1,619 2,339
Current leased assets 328 312
Total 2,568 3,347
Inventories amounting to EUR 23,401 (26,454) 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 83 (89) 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 142 (94) 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.
Leased vehicles with an operating lease term of up to one year were reported under inventories
in the amount of EUR 328 (312) million. Payments in the amount of EUR 12 million are ex-
pected in the 2010 fiscal year from irrevocable leasing relationships.
21 Trade receivables
EUR million Dec. 31, 2009 Dec. 31, 2008
Trade receivables from
third parties 1,125 1,223
affiliated companies 803 757
associated companies and participating interests 353 235
Total 2,281 2,215
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 twelve months subsequent to
the balance sheet date amount to EUR 5 (1) million. Impairment losses on trade receivables are
detailed under 34.1 “Credit risks.”
22 Effective income tax claims
Entitlements to income tax rebates, predominantly for foreign Group companies, are reported
under this item.