BMW 2004 Annual Report Download - page 99
Download and view the complete annual report
Please find page 99 of the 2004 BMW annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
 |
 |
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
98
The cash inflow from operating activities includes the following cash flows in accordance with IAS 7 para-
graphs 31 and 35:
In accordance with IAS 24 (Related Party Disclo-
sures), related individuals or entities 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 not already included in the
consolidated financial 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 finan-
cial and operating policies of the management of
the 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 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
holds another key management position within the
Group.
In the case of the BMW Group in the financial
year 2004, these IAS 24 disclosure requirements
only affect business relationships with associated
companies, members of the Board of Management
or Supervisory Board of BMW AG and other key
management personnel.
Transactions of BMW Group companies with
associated companies – mainly BMW Brilliance
Automotive Ltd., Shenyang (50%), 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.
[38]Related party
relationships
in euro million 2004 2003
Interest received 243 290
Interest paid 267 336
Dividends received 86 30
Income taxes paid 736 257