Audi 2010 Annual Report Download - page 198

196
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 amortized
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 subsidiaries are principally companies with
only limited business operations.
The group of consolidated companies has grown since December 31, 2009 to include the following
companies that have been founded or acquired:
– Audi (China) Enterprise Management Co. Ltd., Beijing (China)
– Audi Japan Sales K.K., Tokyo (Japan)
– Audi Zentrum Frankfurt GmbH, Frankfurt
– Audi Zentrum Leipzig GmbH, Leipzig
– Audi Zentrum Stuttgart GmbH, Stuttgart
– Italdesign Giugiaro S.p.A., Turin (Italy)
– STAR DESIGN S.R.L., Turin (Italy)
Additionally, Automobili Lamborghini America, LLC, Wilmington, Delaware (USA), was consoli-
dated for the first time on the basis of the condition set out in IAS 27.13, Sentence 2 (c).
The first-time inclusion of these subsidiaries had no significant individual or overall impact on
the presentation of the Company’s situation.
With effect from June 1, 2010, the Group acquired 100 percent of the shares in AUDI BRUSSELS
S.A./N.V., Brussels (Belgium). This company has been included in the Audi Group since 2008
based on the conditions set out in IAS 27.13, Sentence 2 (c).
The following table shows the composition of the Audi Group:
Total 2010 2009
AUDI AG and fully consolidated subsidiaries
Germany 10 7
Other countries 20 15
Investments accounted for using the equity method
Other countries 1 1
Non-consolidated subsidiaries
Germany 12 14
Other countries 15 14
Total 58 51
The principal companies within the Audi Group are listed following the Notes. The full list of
companies in which shares are held is provided in AUDI AG’s published Annual Financial Report
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.