Audi 2012 Annual Report Download - page 226

229
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
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
8 Financing costs
EUR million 2012 2011
Interest and similar expenses – 105 – 119
of which to affiliated companies – 90 – 113
Interest expense – 105 – 119
Interest effect from the measurement of provisions for pensions – 113 – 112
Interest effect from the measurement of other provisions – 192 – 33
Interest effect from the measurement of liabilities – 2–
Interest on liabilities – 307 – 145
Financing costs – 412 – 264
Interest expense is attributed on an accrual basis.
9 Other financial results
EUR million 2012 2011
Investment result 46 52
of which income from investments 43 44
of which income from profit transfer agreements 48
Net income from the sale of securities – 14 – 43
Income and expense from the measurement of
non-derivative financial instruments 1– 1
Write-ups on non-derivative financial instruments 4–
Income and expense from fair value measurement of
derivative financial instruments – 71 47
Interest and similar income 203 267
of which from affiliated companies 122 182
Other income 404 365
of which from affiliated companies 404 365
Total other financial results 574 687
Income from investments primarily relates to a share in the profits of Volkswagen Logistics
GmbH & Co. OHG, Wolfsburg. Income and expense from the fair value measurement of deriva-
tive financial instruments comprise the ineffective portions of cash flow hedges and the fluctua-
tions in the fair value of derivative financial instruments that do not fully meet the effectiveness
criteria set out under IAS 39. The total position in relation to hedging transactions is presented
under Note 37.5, “Methods of monitoring the effectiveness of hedging relationships.” Interest
income is attributed on an accrual basis.
10 Income tax expense
Income tax expense includes taxes passed on by Volkswagen AG, Wolfsburg, on the basis of the
single-entity relationship between the two companies for tax purposes, along with taxes owed
by AUDI AG and its consolidated subsidiaries, as well as deferred taxes.
Tax expense consists of the following:
EUR million 2012 2011
Actual income tax expense 1,502 1,889
of which for Germany 1,327 1,607
of which for other countries 175 281
of which income from the reversal of tax provisions – 17 0
Deferred tax income 101 – 288
of which for Germany 171 34
of which for other countries – 70 – 322
Income tax expense 1,603 1,601
of which non-periodic tax expenses – 85