BMW 2001 Annual Report Download - page 109

001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
029 BMW Stock
033 Group Financial Statements
098 BMW AG Financial Statements
104 BMW Group Annual Comparison
106 BMW Group Locations
108 Glossary
112 Index
108
[ALC]
Adaptive Light Control (ALC) directs two variable
headlights at the road ahead. This gives the driver
a better view of the road when approaching and driv-
ing round bends. When approaching road junctions,
the light beam is broadened to provide better visibili-
ty of the crossroads and pedestrian paths.
[Cash flow]
The difference between cash inflows and cash out-
flows for a specific period. Cash flow can be defined
in a variety of ways. The cash flow referred to in the
BMW Group Annual Report is computed as follows:
Net profit/loss
+ depreciation and amortisation on intangible
assets and property, plant and equipment
+/ increase/decrease in pension provisions
= Cash flow
[CDAX-Automobile stock index]
Industry index for the automobile sector.
[CleanEnergy]
On the 2001 CleanEnergy WorldTour the BMW
Group made an outstanding contribution to the
breakthrough and widespread use of hydrogen as
the only source of sustainable energy in the future.
The BMW Group is concentrating on the proven
combination of liquid hydrogen and the combustion
engine as a drive concept offering advantages in
performance, weight, cost and service.
[Common stock]
Stock with voting right (cf. preferred stock).
[ConnectedDrive]
ConnectedDrive is the term used by BMW to de-
scribe the interaction of the driver, the car and the
surrounding traffic on the road. The objective is to
prepare as much information as required and de-
sired for the driver, offering him individual service
customised to his requirements. The three areas
of ConnectedDrive  telematics services, online
services, and driver assistance systems  make
motoring more comfortable, safer and efficient.
[Cost of materials]
Comprises all expenditure to purchase raw materials
and supplies.
[Current assets]
All assets which are not held to benefit operations
on a long-term basis are classified as current. The
following items are classified as current assets:
Inventories
+ Trade receivables
+ Receivables from sales financing
+ Other receivables
+ Marketable securities
+ Cash and cash equivalents
= Current assets
[Customer Relationship Management]
The BMW Group is integrating all activities and re-
sponsibilities in customer relations. In addition to the
Groups overall customer support strategy, the focus
is also on processes, organisation structures and
systems supporting the customer.
[DAX]
Abbreviation for Deutscher Aktien Index, the Ger-
man Stock Index. The index is based on the weight-
ed market prices of the 30 largest German stock
corporations (by stock market capitalisation).
[Deferred taxes]
Accounting for deferred taxes is a method of
allocating tax expense/benefit to the appropriate
accounting period.
[Derivatives]
Financial products, whose measurement is derived
principally from market price, market price fluctua-
tions and expected market price changes of the
underlying instrument (e.g. indices, stocks or bonds).
Glossary