BMW 2001 Annual Report Download - page 111

110
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
[Major subsidiaries]
Subsidiaries are those enterprises which, either di-
rectly or indirectly, are under the uniform control of
the management of BMW AG or in which BMW AG,
either directly or indirectly
 holds the majority of the voting rights
 has the right to appoint or remove the majority of
the members of the Board of Management or
equivalent governing body, and in which BMW AG
is at the same time (directly or indirectly) a share-
holder
 has control (directly or indirectly) over another
enterprise on the basis of a control agreement or
a provision in the statutes of that enterprise.
[Non-current assets]
Intangible assets: expenses for formation and expan-
sion of business operations, concessions, patents,
licences, design patents, trade marks, goodwill, de-
velopment costs, know-how etc.
Property, plant and equipment: land and buildings,
plant and machinery, other facilities, factory and office
equipment and construction in progress.
Financial assets: investments in subsidiaries, invest-
ments in associated companies, loans (with a maturi-
ty of more than five years) to subsidiaries and to other
companies in which shares are held, investments in
other companies, long-term marketable securities,
other loans.
[Online ordering]
Online ordering helps to significantly speed up
change management in handling customer orders,
expedites the order processing and enables, at the
time of order, confirmation that the vehicle can be
completed in the required configuration, so that a
definite delivery date can be given. An important part
of KOVP.
[PEP]
The German abbreviation for Product Development
Process. The objective is to build a car as close to
the market as possible. The longer changes can still
be made in the design and construction of the car,
the better the results for the customer. Important
terms in this context are the parallelisation, virtualisa-
tion and globalisation of development activities.
[Preferred stock]
Stock which receives a higher dividend than com-
mon stock, but without voting rights.
[Production network]
The BMW Group production network is made up
of 14 plants and 8 assembly facilities worldwide.
Particular abilities of the network are the common
supply of systems and components as well as a
high standard of productivity and agility.
[Rating]
Standardized evaluation of a companys credit
standing which is widely accepted on the global
capital markets. Ratings are published by inde-
pendent rating agencies e.g. Standard& Poors or
Moodys based on their analysis of a company.
[Return on sales]
The ratio of the profit from ordinary activities to
Group revenues. For segment reporting purposes, the
compuation is based on the operating profit.