BMW 2005 Annual Report Download - page 97
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Receivables from sales financing, totalling euro
29,053 million (2004: euro 25,054 million), comprise
euro 22,301 million (2004: euro 18,782 million) for
loan financing for retail customers and dealers and
Contingent rents recognised as income, gen-
erally relating to the distance driven, amounted to
euro 4 million (2004: euro 1 million). Write-downs on
finance leases amounting to euro 46 million (2004:
euro 83 million) were computed and recognised on
the basis of specific credit risks.
euro 6,752 million (2004: euro 6,272 million) for
finance leases. Finance leases are analysed as fol-
lows:
Receivables from sales financing include euro
17,202 million (2004: euro 15,737 million) with a
remaining term of more than one year.
96
[24]Receivables from
sales financing
Additions to investments in other companies in
2005 relate to the reversal of write-downs on the in-
vestment in Rolls-Royce plc, London, up to the mar-
ket price at 31 December 2005. The gain of euro
438 million resulting from the market price increase
was recognised directly in accumulated other equity.
A break-down of the different classes of other
investments disclosed in the balance sheet and
changes during the year are shown in the analysis
of changes in Group tangible, intangible and invest-
ment assets on pages 90 and 93.
in euro million 31.12.2005 31.12. 2004
Gross investment in finance leases
due within one year 2,771 2,592
due between one and five years 4,773 4,409
due later than five years 3 6
7,547 7,007
Present value of future minimum lease payments
due within one year 2,511 2,359
due between one and five years 4,238 3,908
due later than five years 3 5
6,752 6,272
Unrealised interest income 795 735
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