Audi 2010 Annual Report Download - page 219

217
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
217 Liabilities
223 Additional disclosures
242 Events occurring subsequent
to the balance sheet date
243 Statement of Interests
held by the Audi Group
The share capital of AUDI AG is EUR 110,080,000. One share grants an arithmetical share of
EUR 2.56 of the issued capital. This capital is divided into 43,000,000 no-par bearer shares.
The capital reserves contain premiums paid in connection with the issuance of shares of the
Company. In the year under review, capital reserves rose to EUR 2,510 million as a result of a
contribution in the amount of EUR 586 million by Volkswagen AG, Wolfsburg, to the capital
reserve of AUDI AG.
The opportunities and risks under foreign exchange, currency option, commodity price and in-
terest hedging transactions serving as hedges for future cash flows are deferred in the reserve
for cash flow hedges with no effect on income. When the cash flow hedges become due, the
results from the settlement of the hedging contracts are reported under the operating profit.
Unrealized gains and losses from the measurement at fair value of securities available for sale
are recognized in the reserve for the market-price measurement of securities. Upon disposal of
the securities, share price gains and losses realized are reported under the financial result.
Adjustments to actuarial assumptions on retirement benefit obligations, with no effect on
income, are recognized in the provisions for actuarial gains and losses.
Pursuant to IAS 28.39, foreign currency translation differences that do not affect income from
the accounting of FAW-Volkswagen Automotive Company, Ltd., Changchun (China), using the
equity method are included in the reserve for investments accounted for using the equity method.
With effect from June 1, 2010, the Group acquired 100 percent of the shares in AUDI BRUSSELS
S.A./N.V., Brussels (Belgium), for a purchase price of EUR 125 million. The equity of AUDI
BRUSSELS S.A./N.V. remaining after deduction of the purchase price was reclassified from minority
interests to AUDI AG stockholders’ interests.
The shares held by minority interests in the equity capital can be broken down as follows, with
each shareholder holding 100 percent of the shares in the listed companies and to whom the
result achieved by the company is attributable:
Fully consolidated group company Minority interests
Audi Canada Inc., Ajax (Canada) Volkswagen Group Canada, Inc., Ajax (Canada)
Audi of America, LLC, Herndon (USA) VOLKSWAGEN GROUP OF AMERICA, INC., Herndon (USA)
Automobili Lamborghini America, LLC,
Wilmington, Delaware (USA) VOLKSWAGEN GROUP OF AMERICA, INC., Herndon (USA)
The balance of EUR 576 (128) million remaining after the transfer of profit to Volkswagen AG is
allocated to the other retained earnings.
LIABILITIES
25 Financial liabilities
Non-current financial liabilities
Non-current financial liabilities amount to EUR 15 (2) million and have a time to maturity of
between one and five years. The carrying amounts correspond to the fair values.
Current financial liabilities
EUR million Dec. 31, 2010 Dec. 31, 2009
Liabilities to affiliated factoring companies 714 514
Loans from affiliated companies 88 62
Liabilities to banks 8–
Total 810 577
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.