Audi 2009 Annual Report Download - page 212

209
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
Each convertible bond may be converted into ten ordinary shares. Conversion is blocked for a
period of 24 months (known as the qualifying period); after expiry of this period, the bonds may
be converted until a period of five years has elapsed starting from the date on which they were
issued. For details relating to the terms of subscription and exercise, please refer to the notes
on equity in the Annual Report of Volkswagen AG.
There were no longer any expenses in relation to the stock option plan during the 2009 fiscal
year as the 24-month qualifying period for the eighth tranche expired on July 8, 2008. The cor-
responding expense for the previous fiscal year was EUR 0.2 million.
There were no conversion rights held during the 2009 fiscal year due to the fact that all
Audi Group employees covered by the stock option plan had exercised their available conversion
rights in full during the previous year.
LIABILITIES
25 Financial liabilities
Non-current financial liabilities
Non-current financial liabilities amount to EUR 2 (3) million and exclusively comprise liabilities
to banks. Non-current financial liabilities having a time to maturity of more than five years
amount to EUR 2 (1) million. The carrying amounts correspond to the fair values.
Current financial liabilities
EUR million Dec. 31, 2009 Dec. 31, 2008
Liabilities to affiliated factoring companies 514 574
Loans from affiliated companies 62 62
Liabilities to banks –36
Liabilities from financial lease agreements 01
Total 577 673
Measurement of the non-current and current financial lease agreements is based on market
interest rates in each case.
The carrying amounts correspond to the fair values due to the short-term maturities.
26 Deferred tax liabilities
The temporary differences between tax bases and carrying amounts in the Consolidated Finan-
cial Statements are explained under “Deferred tax” in the recognition and measurement princi-
ples, and under Note 10, “Income tax expense.” Pursuant to IAS 1, deferred tax liabilities are
reported as non-current liabilities, irrespective of their maturities.
27 Other liabilities
The derivative currency hedging instruments reported under other liabilities are measured at
market values. The total item of currency hedging instruments is presented under Note 34,
“Management of financial risks.”