Audi 2015 Annual Report Download - page 244

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO THE INCOME STATEMENT
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10.2 / RECONCILIATION OF EXPECTED TO REPORTED INCOME TAX EXPENSE
EUR million 2015 2014
Profit before income tax 5,284 5,991
Expected income tax expense 29.8% (29.8%) 1,574 1,785
Reconciliation:
Divergent foreign tax burden – 60 – 25
Tax portion for tax-exempt income – 447 – 211
Tax portion for expenses not deductible for tax purposes 17 19
Tax portion for effects from loss carryforwards and tax credits – 83 47
Tax portion for permanent accounting differences 4 –9
Tax expense/income relating to other periods 42 – 121
Effects of tax rate changes – 10 3
Other tax effects – 50 75
Income tax expense reported 987 1,563
Effective tax rate in % 18.7 26.1
11 / PROFIT TRANSFER TO VOLKSWAGEN AG
The amount of EUR 2,752 (3,239) million will be transferred
to Volkswagen AG, Wolfsburg, under the profit transfer
agreement with AUDI AG.
12 / EARNINGS PER SHARE
2015 2014
Profit share of AUDI AG shareholders (EUR million) 4,204 4,367
Weighted average number of shares 43,000,000 43,000,000
Earnings per share in EUR 97.78 101.55
Basic earnings per share are calculated by dividing the share of
profit due to AUDI AG shareholders by the weighted average
number of shares in circulation during the fiscal year.
In the case of AUDI AG, the diluted earnings per share are the
same as the basic earnings per share, since there were no
potential shares of AUDI AG in existence at either December
31, 2015 or December 31, 2014.
Outside shareholders of AUDI AG will receive a compensatory
payment for each no-par share in lieu of a dividend for the
2015 fiscal year. The level of this payment corresponds to the
dividend that is paid on one ordinary share of Volkswagen AG,
Wolfsburg. A decision regarding the dividend payment will be
made at the Annual General Meeting of Volkswagen AG.
13 / ADDITIONAL DISCLOSURES ON FINANCIAL
INSTRUMENTS IN THE INCOME STATEMENT
13.1 / CATEGORIES
Financial instruments are categorized as follows in accordance
with IFRS 7:
>measured at fair value,
>measured at amortized cost,
>not within the scope of IFRS 7.
Shares in non-consolidated subsidiaries, as well as investments
in associated companies and joint ventures are not within the
scope of IFRS 7. These are not deemed to be financial instru-
ments for the purposes of IAS 39.