BMW 2003 Annual Report Download - page 74
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73
[10]Cost of sales Cost of sales comprises:
Cost of sales includes euro 5,968 million (2002:
euro 6,704 million) relating to the financial services
business.
Expense for risk provisions and write-downs
for financial services business includes write-downs
of euro 265 million (2002: euro 175 million) on re-
ceivables from financial services.
Manufacturing costs for industrial operations
include impairment losses on property, plant and
equipment of euro 56 million (2002: euro – million).
Public subsidies in the form of reduced taxes on
asset and consumption-based taxes amounted to
euro15 million (2002: euro 18 million).
in euro million 2003 2002
reclassified
Manufacturing costs 22,997 23,138
Warranty expenditure 1,487 1,408
Cost of sales directly attributable to financial services 4,707 5,387
Interest expense for financial operations 782 1,012
Expense for risk provisions and write-downs for financial services business 479 305
Other cost of sales 1,638 1,504
Cost of sales 32,090 32,754