BMW 2004 Annual Report Download - page 93

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Group Financial Statements 50
Income Statements 51
Balance Sheets 52
Cash Flow Statements 54
Group Statement of
Changes in Equity 56
Notes 57
--Accounting Principles
and Policies 57
--Notes to the Income Statement 66
--Notes to the balance sheet 74
--Other Disclosures 93
--Segment Information 100
--Disclosures pursuant to
§292a HGB
104
Auditors’ Report 107
92
Income relating to service and repair work to be
provided under commitments given at the time of
the sale of a vehicle is reported in 2004 for the first
time under deferred income (“Multiple Element
Arrangements”). Grants comprise primarily public
funds to promote regional structural investment, par-
ticularly relating to the construction of the produc-
tion plant in Leipzig. In accordance with IAS 20, they
are recognised as income over the useful lives of
the assets to which they relate.
in euro million 31.12.2004 31.12.2003
Total thereof Total thereof
due within due within
one year one year
Deferred income from lease financing 527 347 416 277
Deferred income relating to service contracts 621 130 108 31
Grants 363 26 280 55
Other deferred income 65 50 43 43
1,576 553 847 406
Deferred income comprises the following items:
[34]Deferred income
The total amount of liabilities due later than five years amounts to euro 3,997 million (2003: euro 1,647 million).
31 December 2003
in euro million Maturity Maturity Maturity Total
within between one later than
one year and five years five years
Taxes payable 354 2 – 356
Social security 119 1 – 120
Employees 21 – – 21
Advance payments from customers 272 2 – 274
Deposits received 70 93 – 163
Interest 96 – – 96
Subsidiaries 55 – – 55
Fair values of derivative financial instruments 219 131 22 372
Liabilities to associated and other companies
in which an investment is held ––––
Sundry other liabilities 582 554 41 1,177
1,788 783 63 2,634