Audi 2014 Annual Report Download - page 228

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
GENERAL INFORMATION
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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, Herndon (USA)
VOLKSWAGEN GROUP OF
AMERICA, INC., Herndon (USA)
Further information on non-controlling interests is provided in
Note 25.
Subsidiaries with limited business operations that are of sub-
ordinate importance, both individually and in total, with re-
gard to providing a true and fair view of the net worth, finan-
cial position and financial performance and cash flow are not
consolidated. Before consolidation, these subsidiaries account
for 0.8 (0.9) percent of consolidated equity, 0.4 (0.3) percent
of profit after tax, and 0.6 (0.7) of the Audi Group’s total
assets. Associated companies and joint ventures with only
limited business operations are also not consolidated using
the equity method for reasons of materiality.
Subsidiaries, associated companies and joint ventures that are
not fully consolidated or consolidated using the equity method,
as well as financial participations, are as a general rule reported
at amortized cost because no active market exists for the shares
of these companies and no fair value can reliably be determined
with a justifiable amount of effort. Where there is evidence that
the fair value is lower, this fair value is recognized.
The group of consolidated companies has been extended since
December 31, 2013 to include Audi Electronics Venture GmbH,
Gaimersheim, AUDI Immobilien GmbH & Co. KG, Ingolstadt,
and DUCATI DO BRASIL INDÚSTRIA E COMÉRCIO DE
MOTOCICLETAS LTDA, São Paulo (Brazil).
The Audi Group does not wholly own Italdesign Giugiaro S.p.A.
Turin (Italy), and PSW automotive engineering GmbH, Gaim-
ersheim. However, given that in business terms AUDI AG also
bears the risks and has access to the economic benefits of the
remaining shares it does not own, both of these companies are
included in the Consolidated Financial Statements on a
100 percent basis.
The principal companies within the Audi Group are listed
following the Notes.
The full list of companies in which shares are held, according to
commercial law, is recorded in the Commercial Register of
Ingolstadt under HR B 1 and is also available on the Audi web-
site at www.audi.com/subsidiaries. This list can additionally be
requested directly from AUDI AG, Financial Communication/
Financial Analysis, I/FF 3, 85045 Ingolstadt, Germany.
www.audi.com/subsidiaries
By virtue of their inclusion in the Audi Group’s Consolidated
Financial Statements, the following companies have fulfilled the
requirements of Section 264, Para. 3 of the German Commercial
Code (HGB) and make use of the exemption rule:
>Audi Akademie GmbH
>Audi Electronics Venture GmbH
>AUDI Immobilien GmbH & Co. KG
>Audi Vertriebsbetreuungsgesellschaft mbH
>quattro GmbH
// COMPOSITION OF THE AUDI GROUP
Total 2014 2013
AUDI AG and fully consolidated subsidiaries/structured entities 44 41
of which in Germany 10 8
of which in foreign countries 34 33
Non-consolidated subsidiaries 34 34
of which in Germany 20 22
of which in foreign countries 14 12
Investments accounted for using the equity method (in foreign countries) 3 2
Investments and joint ventures not accounted for using the equity method 16 13
of which in Germany 14 11
of which in foreign countries 2 2
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