BMW 2005 Annual Report Download - page 83
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[10]Cost of sales
[11]Sales and
administrative costs
Cost of sales comprises:
Cost of sales includes euro 7,160 million (2004:
euro 6,028 million) relating to financial services
business.
Expense for risk provisions and write-downs in-
cludes write-downs of euro 248 million (2004: euro
258 million) on receivables from financial services.
Manufacturing costs for industrial operations
include impairment losses on intangible assets and
property, plant and equipment of euro 25 million (2004:
euro16 million). Public subsidies in the form of re-
duced taxes on assets and consumption-based taxes
amounted to euro 15 million (2004: euro 13 million).
Sales costs amount to euro 3,889 million (2004:
euro 3,806 million*) and comprise mainly marketing,
advertising and sales personnel costs.
Administrative costs amount to euro 873 million
(2004: euro 842 million). These comprise expenses
for administration which are not attributable to de-
velopment, production or sales functions.
[12]Research and
development costs
Research and development costs of euro 2,464 mil-
lion (2004: euro 2,334 million) comprise all research
costs and development costs not recognised as
assets as well as amortisation and disposals of capi-
talised development costs of euro 745 million (2004:
euro 637 million).
in euro million 2005 2004*
82
Manufacturing costs 25,598 24,670
Warranty expenditure 1,553 1,283
Cost of sales directly attributable to financial services 5,586 4,723
Interest expense for financial operations 1,033 813
Expense for risk provisions and write-downs for financial services business 541 492
Other cost of sales 1,681 2,059
Cost of sales 35,992 34,040
*see also Note [8] (b)
*adjusted in accordance with Note [8](b)
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