BMW 2002 Annual Report Download - page 97

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001 BMW Group in figures
004 Report of the Supervisory Board
008 Supervisory Board
011 Board of Management
012 Group Management Report
031 BMW Stock
034 Corporate Governance
042 Group Financial Statements
106 BMW AG Financial Statements
112 BMW Group Annual Comparison
114 BMW Group Locations
116 Glossary
120 Index
96
the extent that they are available within three months
from the balance sheet date. The negative impact of
changes in cash and cash equivalents due to the ef-
fect of exchange rate fluctuations was euro 109 mil-
lion (2001: euro 45 million).
The cash flows from investing and financial ac-
tivities are based on actual payments and receipts.
The cash flow from operating activities is computed
using the indirect method, starting from the net profit
In accordance with
IAS
24 (Related Party Disclosures),
related individuals or enterprises which have the
ability to control the BMW Group or which are
con-
trolled by the
BMW
Group, must be disclosed unless
such parties are already included in the Group finan-
cial statements as consolidated companies.
Control
is defined as ownership of more than one half
of the
voting power of
BMW AG
or the power to direct,
by statute or agreement, the financial and
operating
policies of the management of the
BMW
Group.
In addition, the disclosure requirements of
IAS
24
also cover transactions with associated companies
and with parties which have the ability to exercise
significant influence over the financial and operating
policies of the BMW Group.This also includes close
relatives and intermediaries. Significant influence
over the financial and operating policies of the
BMW
Group
can arise when a party holds 20% or more of
the shares of
BMW AG
, is a member of the Board of
Management or Supervisory Board of
BMW AG
or
of the Group. Under this method, changes in assets
and liabilities relating to operating activities are ad-
justed for currency translation effects and changes
i
n the composition of the Group. The changes in
balance sheet positions shown in the cash flow
statement do not therefore agree directly with the
amounts shown in the Group balance sheet.
The cash inflow from operating activities includes
the following:
holds another key management position within the
Group.
In the case of the
BMW
Group in the financial
year 2002, these disclosure requirements only af-
fect business relationships with associated com-
panies, members of the Board of Management or
the Supervisory Board of
BMW AG
and other key
management personnel.
Transactions of
BMW
Group companies with
associated companies  mainly TRITEC Motors
Ltda., Campo Largo (50%), F.A.S.T. Gesellschaft
für angewandte Softwaretechnologie mbH, Munich
(50%) and ZNF Maschinenfabrik Spandau GmbH,
Berlin (49%)  all arise in the normal course of ac-
tivities
of those companies and are based on arms
length principles.
Stefan Quandt is a shareholder and Deputy
Chairman of the Supervisory Board of BMW AG. He
is also sole shareholder and Chairman of the Super-
visory
Board of
DELTON AG
,Bad Homburg v.d. Höhe,
[38]Related party
relationships
in euro million 2002 2001
Interest received 650 807
Interest paid 628 746
Dividends received 14 33
Income taxes paid 597 709