Audi 2012 Annual Report Download - page 224

227
Consolidated Financial
Statements
202 Income Statement
203 Statement of Recognized
Income and Expense
204 Balance Sheet
205 Cash Flow Statement
206 Statement of Changes in Equity
Notes to the Consolidated
Financial Statements
208 Development of fixed assets
in the 2012 fiscal year
210 Development of fixed assets
in the 2011 fiscal year
212 General information
218 Recognition and
measurement principles
218 Recognition of income
and expenses
218 Intangible assets
219 Property, plant
and equipment
220 Leasing and rental assets
220 Investment property
220 Investments accounted for
using the equity method
220 Impairment tests
221 Financial instruments
224 Other financial assets and
other receivables
224 Deferred tax
224 Inventories
225 Securities, cash and
cash equivalents
225 Provisions for pensions
225 Other provisions
225 Liabilities
226 Government grants
226 Management’s estimates
and assessments
227 Notes to the Income Statement
233 Notes to the Balance Sheet
244 Additional disclosures
266 Events occurring subsequent to
the balance sheet date
267 Statement of Interests
held by the Audi Group
Developments in this environment that deviate from assumptions and are beyond the manage-
ment’s sphere of influence may cause the actual amounts to differ from the estimates originally
anticipated. If the actual development varies from the anticipated development, the premises
and, if necessary, the carrying amounts for the assets and liabilities in question are adjusted
accordingly.
The global economy grew less dynamically in 2012. As far as 2013 is concerned, momentum for
growth is expected to be greater in the emerging markets of Asia and Latin America, whilst only
a moderate increase in economic performance can be expected in the leading industrialized
nations. Overall, as things currently stand, no major adjustment is expected in the carrying
amounts of assets and liabilities in the Consolidated Balance Sheet in the coming fiscal year.
Management’s estimates and assumptions were based in particular on assumptions regarding
the development of the economy as a whole, the development of automotive and motorcycle
markets, and the development of the basic legal parameters. These aspects, as well as further
assumptions, are described in detail in the report on expected developments.
NOTES TO THE INCOME STATEMENT
1 Revenue
The composition of the revenue of the Group, by brand, is as follows:
EUR million 2012 2011
Audi brand 35,851 34,456
Lamborghini brand 421 268
Other Volkswagen Group brands 2,725 3,444
Other automotive business 9,565 5,928
Automotive segment 48,562 44,096
Ducati brand 148 –
Other motorcycles business 61 –
Motorcycles segment 209 –
Revenue 48,771 44,096
As well as sales generated by the Audi and Lamborghini brands, the Automotive segment also
includes revenue from the other brands in the Volkswagen Group. Revenue from other automo-
tive business primarily includes proceeds from the sale of engines and genuine parts. Due to the
increasing degree of localization, the revenue from deliveries of parts sets to China has been
reported under other automotive business since 2012. In the previous year, EUR 2,492 million
from the CKD business were included in the revenue of the Audi brand.
Ducati motorcycles are sold in the Motorcycles segment.
2 Cost of sales
Amounting to EUR 39,046 (36,000) million, cost of sales comprises the costs incurred in gener-
ating revenue and purchase prices in trading transactions. This item also includes expenses result-
ing from the formation of provisions for warranty costs, for development costs that cannot be
capitalized, for depreciation and impairment losses of capitalized development costs, and for
property, plant and equipment for manufacturing purposes. Cost of sales includes unscheduled
impairment losses on intangible assets and property, plant and equipment amounting to
EUR 3 (93) million.