Audi 2014 Annual Report Download - page 275

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ADDITIONAL DISCLOSURES
>> 275
46 / RELATED PARTY DISCLOSURES
Related parties as defined in IAS 24 are:
>the parent company, Volkswagen AG, Wolfsburg, and its
subsidiaries and main participations outside the Audi Group,
>other parties (individuals and companies) that could be
influenced by the reporting entity or that could influence the
reporting entity, such as
>the members of the Board of Management and
Supervisory Board of AUDI AG,
>the members of the Board of Management and
Supervisory Board of Volkswagen AG,
>associated companies and their subsidiaries,
>non-consolidated subsidiaries.
At 50.73 percent, Porsche Automobil Holding SE, Stuttgart,
held the majority of the voting rights in Volkswagen AG as of
the balance sheet date. The creation of rights of appointment
for the State of Lower Saxony was resolved at the Extraordinary
General Meeting of Volkswagen AG on December 3, 2009. As a
result, Porsche Automobil Holding SE can no longer appoint
the majority of the members of the Supervisory Board of
Volkswagen AG for as long as the State of Lower Saxony holds
at least 15 percent of Volkswagen AG’s ordinary shares.
However, Porsche Automobil Holding SE has the power to
participate in the operating policy decisions of the Volkswagen
Group.
46.1 / SCOPE OF TRANSACTIONS WITH VOLKSWAGEN AG AND WITH OTHER SUBSIDIARIES AND
PARTICIPATIONS NOT BELONGING TO THE AUDI GROUP
EUR million 2014 2013
Goods and services supplied to
Volkswagen AG 6,386 5,491
Volkswagen AG subsidiaries and other participations
not belonging to the Audi Group 13,489 12,123
Goods and services received from
Volkswagen AG 6,685 5,757
Volkswagen AG subsidiaries and other participations
not belonging to the Audi Group 5,624 5,369
Receivables from
Volkswagen AG 4,746 5,192
Volkswagen AG subsidiaries and other participations
not belonging to the Audi Group 2,575 2,786
Commitments toward
Volkswagen AG 7,153 5,720
Volkswagen AG subsidiaries and participations
not belonging to the Audi Group 3,918 3,071
Contingent liabilities to
Volkswagen AG – –
Volkswagen AG subsidiaries and participations
not belonging to the Audi Group 86 33
Collateral posted with
Volkswagen AG – –
Volkswagen AG subsidiaries and participations
not belonging to the Audi Group – 69
As of December 31, 2014, sales of receivables to subsidiaries
of Volkswagen AG, Wolfsburg, which do not belong to the Audi
Group amounted to EUR 3,256 (2,958) million. This also includes
sales of receivables to Volkswagen Group Services S.A./N.V.,
Brussels (Belgium), totaling EUR 2,183 (1,955) million. The
possibility of a claim arising from contingencies is not regarded
as likely.