BMW 2005 Annual Report Download - page 85

[14]Financial result in euro million 2005 2004
84
Income from investments relates principally to
dividend income from Rolls-Royce plc, London.
Income from joint ventures includes the equity
re-
sults of the joint ventures BMW Brilliance Automotive
Ltd., Shenyang, TRITEC Motors Ltda., Campo Largo,
and F.A.S.T. Gesellschaft für angewandte Software-
technologie mbH, Munich.
Within other financial result, income and ex-
penses resulting from the fair value measurement of
hedged items and hedging instruments have been
presented on a net basis.
Income from investments 28 86
– thereof from subsidiaries: euro 3 million (2004: euro 66 million)
Income from joint ventures 14 11
Impairment losses on investments in subsidiaries and in other companies – –3
Result on investments 42 94
Expected return on plan assets 283 271
Other interest and similar income 363 244
– thereof from subsidiaries: euro 21 million (2004: euro 18 million)
Interest and similar income 646 515
Expense from reversing the discounting of pension obligations – 482 – 450
Expense from reversing the discounting of other long-term provisions – 78 –86
Write-downs on marketable securities –10 –11
Sundry interest and similar expenses – 318 – 246
– thereof to subsidiaries: euro 1 million (2004: euro15 million)
Interest and similar expenses – 888 – 793
Net interest expense – 242 – 278
Losses on the fair value measurement of financial instruments – 306 –7
Other financial result – 306 –7
Financial result – 506 – 191
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