Audi 2012 Annual Report Download - page 228

231
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
Reconciliation of expected to effective tax expense
The expected tax expense is higher than the effective tax expense. The reasons for the difference
between the expected and the effective tax expense can be found in the reconciliation accounts
as follows:
EUR million 2012 2011
Profit before tax 5,956 6,041
Anticipated income tax expense 29.5% (29.5%) 1,757 1,782
Reconciliation:
Divergent foreign tax burden – 14 – 29
Tax portion for:
tax-exempt income – 123 – 243
expenses not deductible for tax purposes 13 10
temporary differences and losses for which
no deferred tax has been recorded 130
Non-periodic tax expenses – 85
Effects of tax rate changes 4– 41
Other tax effects – 27 87
Income tax expense reported 1,603 1,601
Effective tax rate in % 26.9 26.5
11 Profit transfer to Volkswagen AG
The amount of EUR 3,790 (3,138) million will be transferred to Volkswagen AG, Wolfsburg,
under the profit transfer agreement with AUDI AG.
12 Earnings per share
Basic earnings per share are calculated by dividing the share of profit due to AUDI AG stockholders
by the weighted average number of shares in circulation during the fiscal year.
In the case of AUDI AG, the diluted earnings per share are the same as the basic earnings per
share, since there were no potential shares of AUDI AG in existence at either December 31, 2012
or December 31, 2011.
2012 2011
Profit share of AUDI AG stockholders (EUR million) 4,284 4,389
Weighted average number of shares 43,000,000 43,000,000
Earnings per share in EUR 99.62 102.06
Outside stockholders of AUDI AG will receive a compensatory payment for each no-par share in
lieu of a dividend for the 2012 fiscal year. The level of this payment corresponds to the dividend
that is paid on one ordinary share of Volkswagen AG, Wolfsburg. The dividend payment will be
resolved by the Annual General Meeting of Volkswagen AG on April 25, 2013.
13 Additional disclosures on financial instruments in the Income Statement
Categories
Financial instruments are categorized as follows in accordance with IFRS 7:
– measured at fair value,
– measured at amortized cost,
– not under the scope of IFRS 7.
Not within the scope of IFRS 7 are, in particular, investments accounted for using the equity
method that are neither financial instruments as defined in IAS 39 nor as defined in IFRS 7.