Audi 2010 Annual Report Download - page 215

213
Consolidated Financial
Statements
184 Income Statement
185 Statement of Recognized
Income and Expense
186 Balance Sheet
187 Cash Flow Statement
188 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
190 Development of fixed assets
in the 2010 fiscal year
192 Development of fixed assets
in the 2009 fiscal year
194 General information
200 Recognition and
measurement principles
207 Notes to the Income Statement
214 Notes to the Balance Sheet
223 Additional disclosures
242 Events occurring subsequent
to the balance sheet date
243 Statement of Interests
held by the Audi Group
The net results for financial instruments include the net income or expense from interest, fair
value measurements, foreign currency translation, reductions for impairment and disposal
gains.
The “Financial instruments measured at fair value through profit or loss” category presents the
results from the settlement and measurement of derivative financial instruments not allocated
to hedge accounting. The “Loans and receivables” category essentially consists of interest in-
come and expenses, impairment losses on receivables, and factoring expenses. The net result
for available-for-sale financial assets predominantly comprises income from other long-term
investments not accounted for using the equity method and from investments in securities.
The financial instruments are accounted for and measured in accordance with IAS 39 and are
described in the recognition and measurement principles under “Financial instruments.”
Interest income and expense for financial instruments not measured at fair value
EUR million 2010 2009
Interest income 125 248
Interest expense – 21 – 24
Interest income and expense 104 224
Interest income and expense for financial instruments not measured at fair value constitute part
of the net result for financial instruments that fall into the category of “Loans and receivables.”
Interest income primarily covers interest from the Audi Group’s cash and cash equivalents, fixed
deposits and loans extended. Interest expense largely comprises factoring expenses arising in
connection with the loan asset sales to subsidiaries of Volkswagen AG, Wolfsburg, that are not
part of the Audi Group.
Impairment losses for financial assets by category
EUR million 2010 2009
Measured at fair value –3
Measured at amortized cost 13 84
Impairment losses 13 87
The impairment losses relate to value adjustments of financial assets, such as impairment
losses on receivables, securities and non-consolidated subsidiaries.
Gains and losses from hedging activities
From the cash flow hedge reserve, the sum of EUR 46 (341) million was included under cost of
sales and other operating expenses.