Audi 2011 Annual Report Download - page 224

221
Consolidated Financial
Statements
188 Income Statement
189 Statement of Recognized
Income and Expense
190 Balance Sheet
191 Cash Flow Statement
192 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
194 Development of fixed assets
in the 2011 fiscal year
196 Development of fixed assets
in the 2010 fiscal year
198 General information
204 Recognition and
measurement principles
212 Notes to the Income Statement
218 Notes to the Balance Sheet
222 Liabilities
227 Additional disclosures
248 Events occurring subsequent
to the balance sheet date
249 Statement of Interests
held by the Audi Group
23 Securities, cash and cash equivalents
Securities include fixed or variable-interest securities and equities in the amount of
EUR 1,594 (1,339) million.
Cash and cash equivalents essentially comprise credit balances with banks and affiliated compa-
nies amounting to EUR 8,513 (10,724) million. The credit balances with banks are held at various
banks in various different currencies. Balances with affiliated companies include daily and short-
term investments with only marginal risk of fluctuations in value.
24 Equity
Information on the composition and development of equity is provided on pages 192 and 193 in
the Statement of Changes in Equity.
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, the capital reserves of AUDI AG rose to EUR 3,515 million as
a result of a contribution in the amount of EUR 1,005 million by Volkswagen AG, Wolfsburg.
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 financial assets 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 in-
come, 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.
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 1,251 (576) million remaining after the transfer of profit to Volkswagen AG
is allocated to the other retained earnings.