BMW 2006 Annual Report Download - page 82
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Income from investments relates principally to divi-
dend income from BMW Asia Pte. Ltd., Singapore
and from BMW (P+A) Ltd., Bracknell.
Within sundry other financial result, income and
expenses resulting from the fair value measurement
of hedged items and hedging instruments have
been presented on a net basis. The improvement is
mainly attributable to the partial settlement of the
exchangeable bond on shares in Rolls-Royce plc,
London. Furthermore, the previous year’s figure
was affected by a substantial loss recognised on
the
option obligation.
81
Result from equity method accounting
The loss of euro 25 million (2005: profit of euro 14
million) from equity method accounting includes the
result of the joint venture, BMW Brilliance Automotive
Ltd., Shenyang, and an impairment loss on the in-
vestment in TRITEC Motors Ltda., Campo Largo.
[13]
Other financial result
[14]
[15]
in euro million 2006 2005
Income from investments 62 28
– thereof from subsidiaries: euro 58 million (2005: euro 3 million)
Impairment losses on investments in subsidiaries and other companies –46 –
Reversals of impairment losses on investments in subsidiaries and other companies 16 –
Result on investments 32 28
Expected return on plan assets 315 283
Other interest and similar income 259 363
– thereof from subsidiaries: euro19 million (2005: euro21 million)
Interest and similar income 574 646
Expense from reversing the discounting of pension obligations –501 –482
Expense from reversing the discounting of other long-term provisions –35 –78
Write-downs on marketable securities –2 –10
Sundry interest and similar expenses –319 –318
– thereof to subsidiaries: euro2 million (2005: euro1 million)
Interest and similar expenses –857 –888
Net interest result –283 –242
Fair value measurement of financial instruments 350 –306
Sundry other financial result 350 –306
Other financial result 99 –520
in euro million 2006 2005
Income taxes
Taxes on income comprise the following:
Current tax expense 993 437
Deferred tax expense 257 611
1,250 1,048