BMW 2001 Annual Report Download - page 63
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62
For IAS purposes, deferred expense provisions
for major repairs and maintenance are no longer
recognised. Provisions for legal disputes and prod-
uct liability risks are measured at a lower level than
for HGB purposes. Warranty provisions and the pro-
vision for the EU end-of life vehicle directive have to
be discounted.
Equity
Equity under IAS increases by euro 4,536 million
(+92,6%). The following summary shows the
recognition and measurement differences between
The provisions for outstanding suppliers invoic-
es, where the goods or services have been received,
are reclassified for IAS purposes to liabilities.
Provisions decrease by euro 1,252 million
(15.3%) as follows:
HGB and IAS and reconciles the equity at 31 De-
cember 2000 under HGB to the equity on the first
day of the following year, 1 January 2001, under IAS:
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
in euro million
Provisions at 31.12.2000 under HGB 8,173
Increase of pension provision + 203
Recognition and measurement differences of other provisions 574
Reclassification to liabilities 881
Provisions at 1.1.2001 under IAS 6,921
in euro million
Equity at 31.12.2000 under HGB 4,896
Capitalisation of development costs +2,054
Deferred taxes +723
Inventory valuation +691
Derecognition and different measurement of other provisions +673
Depreciation on non-current assets +669
Reclassification of operating leases to finance leases +306
Release of allowances on receivables +169
Fair value measurement of financial instruments 1,074
Other recognition and measurement differences + 325
Equity at 1.1.2001 under IAS 9,432