BMW 2006 Annual Report Download - page 90
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Other investments relate primarily to invest-
ments in non-consolidated subsidiaries and to equi-
ty investments in other entities.
Additions to investments in subsidiaries relate
to share capital increases for the companies PT BMW
Indonesia, Jakarta, BMW Philippines Corp., Manila,
BMW Roma S.r.l., Rome, BMW Distribution S.A.S.,
Montigny le Bretonneux, and BMW Vertriebs GmbH,
Salzburg. They also include the foundation of BMW
India Pvt. Ltd., New Delhi, and the acquisition of a
majority interest in the Sauber Group.
Disposals of investments in subsidiaries relate
mainly to the first-time consolidation of BMW Hellas
Trade of Cars SA, Athens, Park Lane Ltd., Bracknell,
BMW Portugal Lda., Lisbon, BMW Holding Malaysia
Sdn Bhd, Kuala Lumpur, BMW Malaysia Sdn Bhd,
Kuala Lumpur, BMW Asia Technology Centre Sdn
Bhd, Kuala Lumpur, BMW China Automotive Trading
Ltd., Peking, BMW Leasing (Thailand) Co., Ltd.,
Bangkok, and BMW Danmark A/S, Kolding.
Write-downs on investments in subsidiaries re-
late mainly to PT BMW Indonesia, Jakarta.
Leased products
The BMW Group, as lessor, leases out assets (pre-
dominantly own products) as part of its financial
services business. Minimum lease payments of
euro
6,210 million (2005: euro 5,919 million) from
non-cancellable operating leases fall due as follows:
Contingent rents of euro 4 million (2005: euro
2
million), based principally on the distance driven,
were recognised in income. The agreements have,
in part, extension and purchase options as well as
price escalation clauses.
Changes in leased products during the year
are
shown in the analysis of changes in Group tangi-
ble, intangible and investment assets on pages 86
and 87.
Investments accounted for using the equity
method and other investments
Investments accounted for using the equity method
include the Group’s interests in the joint ventures
BMW Brilliance Automotive Ltd., Shenyang, and
TRITEC Motors Ltda., Campo Largo. The Group’s
interest in these joint ventures (50% in each case),
on an aggregated basis, was as follows:
89
in euro million 31.12.2006 31.12.2005
in euro million 31.12.2006 31.12.2005
within one year 3,342 2,908
between one and five years 2,867 3,010
later than five years 1 1
6,210 5,919
Disclosures relating to the Income Statement
Income 589 463
Losses 568 461
Disclosures relating to the balance sheet
Non-current assets 122 134
Current assets 286 215
Equity 110 99
Non-current liabilities 34 85
Current liabilities 264 165
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