BMW 2004 Annual Report Download - page 37

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Group Management Report 8
A review of the Financial Year 8
Outlook 29
Financial Analysis 30
--Earnings performance 30
--Financial position 33
--Net assets position 34
--Events after the
Balance Sheet date 37
--Value added statement 37
--Key performance figures 39
--Comments on the financial
statements of BMW AG 40
Risk Management 44
BMW Stock in 2004 48
36
Balance sheet structure Group
in euro billion
67 61 61 67
34 %
65 %
1%
6%
2004
33 %
66 %
1%
6%
2003
26 %
14 %
54 %
45 %
6%
26 %
14 %
54 %
45 %
6%
2003 2004
2004 2003 2003 2004
Deferred tax assets and prepayments
of which cash and cash equivalents
and marketable securities
Current assets
Non-current assets
Deferred tax liabilities and deferred income
of which debt
Liabilities
Provisions
Equity
33 30 30 33
47%
33 %
20 %
20 %
Balance sheet structure Industrial operations
in euro billion
45 %
of which property, plant and equipment
Inventories
Receivables
12 %
Cash and cash equivalents and
marketable securities
1%
46 %
33 %
19 %
24%
10 %
1%
Deferred tax assets and prepayments
Non-current assets Equity
28 % Provisions
19 %
8%
45 %
28 %
20 %
7%
Liabilities
Deferred tax liabilities and deferred income