Audi 2012 Annual Report Download - page 234

237
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
24 Effective income tax assets
Entitlements to income tax rebates, predominantly for foreign Group companies, are reported
under this item.
25 Securities, cash and cash equivalents
Securities include fixed or variable-interest securities and equities in the amount of
EUR 1,807 (1,594) million.
Cash and cash equivalents essentially comprise credit balances with banks and affiliated compa-
nies amounting to EUR 11,170 (8,513) million. The credit balances with banks amounting to
EUR 482 (435) million are held at various banks in different currencies. Balances with affiliated
companies include daily and short-term investments with only marginal risk of fluctuations in
value and amount to EUR 10,688 (8,077) million.
26 Equity
Information on the composition and development of equity is provided on pages 206 and 207 in
the Statement of Changes in Equity.
AUDI AG’s share capital is unchanged, at 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. During the year under review, the capital reserves of AUDI AG rose to
EUR 1,569 million as a result of a contribution in the amount of EUR 5,084 million by
Volkswagen AG, Wolfsburg.
The opportunities and risks under foreign exchange, currency option, commodity price and interest
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 are recognized in equity
and do not affect actuarial income.
Foreign currency translation differences that do not affect income and, on a pro rata basis, cash
flow hedges with no effect on income and actuarial losses of companies valued at equity are
included in the reserve for investments accounted for using the equity method.
The shares held by non-controlling 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 Non-controlling 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 494 (1,251) million remaining after the transfer of profit to Volkswagen AG
is allocated to the other retained earnings.