Audi 2014 Annual Report Download - page 243

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE INCOME STATEMENT
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13.2 / NET RESULTS OF FINANCIAL INSTRUMENTS BASED ON
MEASUREMENT CATEGORIES PURSUANT TO IAS 39
EUR million 2014 2013
Financial instruments measured at fair value through profit or loss – 50 – 615
Loans and receivables 178 – 54
Available-for-sale financial assets 106 118
Financial liabilities measured at amortized cost – 46 –1
Net results of financial instruments 188 – 552
The net results from financial instruments include the net
income or expense from interest, fair value measurements,
foreign currency translation, reductions for impairment and
disposal gains.
The “Financial instruments measured at fair value through profit
or loss” category presents the results from the settlement and
measurement of derivative financial instruments not allocated
to hedge accounting. The “Loans and receivables” category
essentially consists of interest income and expenses, income
and expenses from the measurement and processing of foreign
currency transactions, impairment losses on receivables, and
factoring expenses. The net result for “Available-for-sale finan-
cial assets” predominantly comprises income from investments
in securities and from participations not accounted for using
the equity method.
13.3 / INTEREST INCOME AND EXPENSE FOR FINANCIAL INSTRUMENTS NOT MEASURED AT FAIR VALUE
EUR million 2014 2013
Interest income 74 54
Interest expense – 26 – 26
Interest income and expense 48 27
Interest income that does not relate to the financial instruments
measured at fair value primarily covers interest from the Audi
Group’s cash and cash equivalents, fixed deposits and loans
extended. Interest expense not relating to the financial in-
struments measured at fair value largely comprises factoring
expenses arising in connection with the sale of receivables to
Volkswagen Group Services S.A./N.V., Brussels (Belgium), and
to subsidiaries of Volkswagen AG, Wolfsburg, that are not part
of the Audi Group.
13.4 / IMPAIRMENT LOSSES FOR FINANCIAL ASSETS BY CATEGORY
EUR million 2014 2013
Measured at fair value – –
Measured at amortized cost 16 16
Impairment losses 16 16
The impairment losses relate to financial assets, such as im-
pairment losses on receivables, securities and non-consolidated
subsidiaries.
13.5 / GAINS AND LOSSES FROM HEDGING
ACTIVITIES
In 2014, EUR 154 million was transferred with a positive effect
on the result from the cash flow hedge reserve to other operating
profit and EUR 7 million was transferred to cost of goods sold
with a negative effect on the result. In the 2013 fiscal year,
EUR 151 million was transferred with a positive effect on the
result to other operating profit and EUR 7 million was trans-
ferred to cost of goods sold with a negative effect on the result.