Audi 2014 Annual Report Download - page 276

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
ADDITIONAL DISCLOSURES
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BUSINESS RELATIONS WITH SUBSIDIARIES AND ASSOCIATED COMPANIES OF THE AUDI GROUP
EUR million
Goods and services
supplied to
Goods and services
received
2014 2013 2014 2013
Associates and joint ventures 11,255 9,675 207 236
Non-consolidated subsidiaries 25 50 138 129
EUR million Receivables from Liabilities to
Dec. 31, 2014 Dec. 31, 2013 Dec. 31, 2014 Dec. 31, 2013
Associates and joint ventures 1,827 1,490 1,598 1,498
Non-consolidated subsidiaries 118 82 30 26
Contingent liabilities to associated companies and joint ventures
totaled EUR 129 (140) million as of December 31, 2014. No
utilization is expected. Irrevocable credit commitments to
non-consolidated subsidiaries total EUR 149 (–) million.
All business transactions with related parties have been con-
ducted on the basis of international comparable uncontrolled
price methods pursuant to IAS 24, according to the terms that
customarily apply to outside third parties. The goods and
services procured from related parties primarily include
supplies for production and supplies of genuine parts, as well
as development, transportation, financial and distribution
services, and, to a lesser extent, design, training and other
services. Business transacted for related parties mainly com-
prises sales of new and used cars, engines and components,
and allocation of cash and cash equivalents in the form of
loans, fixed deposits and overnight deposits.
AUDI AG and its Group companies primarily deposit their cash
funds with the Volkswagen Group or take up cash funds from
the Volkswagen Group. All transactions are processed under
market conditions.
Members of the Boards of Management or Supervisory Boards
of Volkswagen AG, Wolfsburg, and AUDI AG also belong to the
supervisory or management boards of other companies with
which the Audi Group maintains business relations. All transac-
tions with such companies and persons are similarly conducted
according to the terms that customarily apply to outside third
parties. In this connection, goods and services amounting to a
total value of EUR 304 (258) thousand were provided to the
German State of Lower Saxony and to companies in which the
State of Lower Saxony holds a majority stake. In addition,
receivables totaled EUR 18 (–) thousand.
A list of the supervisory board mandates of members of the
Board of Management and Supervisory Board of AUDI AG is
presented in the 2014 Annual Financial Report of AUDI AG.
The service relationships with the members of the Boards of
Management and Supervisory Boards of Volkswagen AG and
AUDI AG were conducted at arm’s length. As in the previous
year, the volume of transactions was low. Overall, services in
the amount of EUR 162 (103) thousand were rendered to this
group of individuals during the fiscal year. As in the previous
year, the Audi Group did not receive services of this group of
individuals in this fiscal year. Receivables totaled
EUR 21 (41) thousand. Details of the remuneration paid to the
members of the Board of Management and Supervisory Board
of AUDI AG, can be found under Note 50, “Details relating to
the Supervisory Board and Board of Management”. The em-
ployee representatives employed at AUDI AG in the Supervisory
Board continue to receive their normal salary in accordance with
their employment contract. This is based on the provisions of
the German Works Constitution Act and corresponds to an
appropriate remuneration for the function or activity exercised
in the Company. This similarly applies to representatives of
executive staff.