BMW 2005 Annual Report Download - page 109
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108
Provisions for obligations for personnel and
social expenses comprise mainly profit-share
schemes and bonuses, early retirement part-time
working arrangements and employee long-service
awards. The increase compared to the previous
year is attributable mainly to the higher level of obli-
gations relating to profit-share schemes, bonuses
and employee long-service awards.
Provisions for obligations for on-going opera-
tional
expenses comprise primarily warranty obli-
gations.
The increase is mainly attributable to the
higher level of provisions brought about by increased
business volumes.
Of the amount shown as reversed, euro 108 million are included in costs by function in the income statement.
Provisions for other obligations cover numerous
specific risks and obligations of uncertain amount.
They comprise mainly obligations and risks in re-
spect of the disengagement from the former Rover
Group, the obligation for recovery and recycling of
end-of-life vehicles and risks from legal disputes.
The discount factor used to discount non-cur-
rent provisions ranged from 3.4% to 5.0%, depend-
ing on the length of period involved.
Other provisions changed during the year as
follows:
in euro million At Translation Additions Reversal of Utilised Reversed At
1. 1. 2005*differences discounting 31.12. 2005
Other provisions principally comprise the following items:
[33]Other
provisions
in euro million 31.12. 2005 31.12. 2004*
Total thereof Total thereof
due within due within
one year one year
Obligations for personnel and
social expenses 1,264 7 815 3 721 13 1,355
Obligations for on-going
operational expenses 3,012 26 1,556 66 1,210 36 3,414
Other obligations 1,377 19 371 15 321 324 1,137
5,653 52 2,742 84 2,252 373 5,906
Obligations for personnel and social expenses 1,355 812 1,264 840
Obligations for on-going operational expenses 3,414 1,428 3,012 1,199
Other obligations 1,137 423 1,377 623
5,906 2,663 5,653 2,662
*adjusted in accordance with Note [8] (a)
*adjusted in accordance with Note [8] (a)
Group Financial Statements 62
Income Statements 63
Balance Sheets 64
Cash Flow Statements 66
Group Statement of
Changes in Equity 68
Statement of Income and Expenses
recognised directly in Equity 69
Notes 70
--Accounting Principles
and Policies 70
--Notes to the Income Statement 81
--Notes to the balance sheet 90
--Other Disclosures 114
--Segment Information 121
Auditors’ Report 125