BMW 2006 Annual Report Download - page 105
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104 Group Financial Statements
65 Group Financial Statements
65 Income Statements
66 Balance Sheets
68 Cash Flow Statements
70 Group Statement of
Changes in Equity
71 Statement of Income and
Expenses recognised directly
in Equity
72 Notes
72 – Accounting Principles
and Policies
79 – Notes to the Income Statement
86 – Notes to the Balance Sheet
104 – Other Disclosures
111 – Segment Information
As at the end of the previous year, all contingent
liabilities relate to non-group entities.
Several liability applies in the case of investments
in general partnerships.
The usual commercial guarantees have been
given in relation to the sale of Rover Cars and Land
Rover activities.
Other financial obligations
In addition to liabilities, provisions and contingent
liabilities, the BMW Group also has other financial
The above amounts include euro 4 million (2005:
euro 2 million) in respect of non-consolidated sub-
sidiaries and euro 65 million (2005: euro 63 million)
for back-to-back operating leases.
In addition, the BMW Group is the lessee in the
case of operating leases for vehicles which are
leased to third parties over matching periods. The
following amounts are payable under these contracts:
commitments, primarily under lease contracts for
land, buildings, plant and machinery, tools, office
and other facilities.The leases run for periods of one
to 96 years and in some cases contain extension
and/or purchase options. Lease payments of euro
77 million (2005: euro 79 million) were recognised
as expense during the year.
The total of future minimum lease payments
under non-cancellable leases can be analysed by
maturity as follows:
No provisions were recognised for the following con-
tingent liabilities (stated at their nominal amount), since an outflow of resources is not considered to
be probable:
Contingent liabilities and other financial commitments
Contingent liabilities
BMW Group
Notes to the Group Financial Statements
Other Disclosures
in euro million 31.12.2006 31.12.2005
in euro million 31.12.2006 31.12.2005
in euro million 31.12.2006 31.12.2005
Guarantees 224 62
Performance guarantees 23 15
Bills of exchange 5 16
252 93
Nominal total of future minimum lease payments
due within one year 271 174
due between one and five years 583 521
due later than five years 560 591
1,414 1,286
[37]
Total of future minimum lease payments
due within one year 677 802
due between one and five years 497 667
due later than five years – –
1,174 1,469