BMW 2005 Annual Report Download - page 114
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Deferred income comprises the following items:
Deferred income relating to service contracts re-
lates to service and repair work to be provided under
commitments given at the time of the sale of a vehicle
(“Multi-Component Arrangements”). Grants comprise
primarily public funds to promote regional structures;
this has been invested in the construction of the pro-
duction plant in Leipzig. In accordance with IAS 20,
they are recognised as income over the useful lives of
the assets to which they relate.
The total amount of financial liabilities, other
liabilities and trade payables with a maturity later
than five years amounts to euro 4,209 million (2004:
euro 4,156 million*).
113
in euro million 31.12. 2005 31.12. 2004
Total thereof Total thereof
due within due within
one year one year
Deferred income from lease financing 678 408 527 347
Deferred income relating to service contracts 1,083 375 621 130
Grants 443 43 363 26
Other deferred income 217 200 65 50
2,421 1,026 1,576 553
31 December 2005
in euro million Maturity Maturity Maturity Total
within between one later than
one year and five years five years
31 December 2004
in euro million Maturity Maturity Maturity Total
within between one later than
one year and five years five years
[37]Trade payables
Trade payables 3,322 54 – 3,376
Trade payables 3,389 103 52 3,544
*adjusted in accordance with Note [8] (a)