Audi 2012 Annual Report Download - page 230

233
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
238 Liabilities
244 Additional disclosures
266 Events occurring subsequent to
the balance sheet date
267 Statement of Interests
held by the Audi Group
NOTES TO THE BALANCE SHEET
14 Intangible assets
EUR million Dec. 31, 2012 Dec. 31, 2011
Concessions, industrial property rights and similar rights and assets,
as well as licenses thereto 429 190
Brand names 421 18
Goodwill 378 72
Capitalized development costs 2,810 2,249
of which products currently under development 834 629
of which products currently in use 1,976 1,620
Payments on account for intangible assets 11
Total 4,038 2,531
The reported goodwill retained its value during the fiscal year. The value is also deemed to
be retained in the event of a variation in the growth forecast and/or discounting rate of
+/– 0.5 percentage points.
Research and development expenditure recognized as an expense
EUR million 2012 2011
Research expense and non-capitalized development costs 2,513 2,243
Impairment losses (reversals) on capitalized development costs 429 397
Total 2,942 2,641
During the 2012 fiscal year, a total of EUR 3,435 (2,839) million was spent on research and devel-
opment. Of this total, EUR 923 (596) million fulfilled the capitalization criteria set out in IAS 38.
Given the improved sales expectations of one Audi model, an impairment loss of EUR 20 million
was reversed in the previous year.
15 Property, plant and equipment
EUR million Dec. 31, 2012 Dec. 31, 2011
Land, land rights and buildings, including buildings on land owned by others 2,519 2,299
of which finance leases 19 19
Plant and machinery 1,290 1,157
Other plant and office equipment 2,278 2,114
Payments on account and assets under construction 1,518 1,146
Total 7,605 6,716
There is no purchase option with regard to the land and buildings leased on the basis of a financial
lease agreement. The rate of interest on which the agreement is based is 3.5 percent.
The financial lease payments due in future, together with their present values, are listed in the
following table:
EUR million 2013 2014 to 2017 from 2018 Total
Lease payments 210 11 23
Interest elements 1225
Present value 18919
Payments totaling EUR 115 (125) million for assets rented on the basis of operating lease
agreements were recognized as an expense.