BMW 2006 Annual Report Download - page 99
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Provisions for obligations for personnel and so-
cial expenses comprise mainly profit-share schemes
and bonuses, early retirement part-time working
arrangements and employee long-service awards.
The increase compared to the previous year was
mainly attributable to the higher level of obligations
relating to early retirement arrangements.
Provisions for obligations for on-going opera-
tional expenses comprise primarily warranty obliga-
tions. These obligations decreased during the year
under report.
Provisions for other obligations cover numerous
specific risks and obligations of uncertain amount.
They comprise mainly obligations and risks in re-
spect of the disengagement from the former Rover
Group, risks from legal disputes and the obligation
for recovery and recycling of end-of-life vehicles.
Benefit obligations are covered in Germany by
accounting provisions. In the United Kingdom, a
Other provisions
Other provisions principally comprise the following items:
substantial portion of plan assets is invested in debt
securities in order to minimise fair value fluctuations.
98 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
Plan assets in the United Kingdom and other countries comprise the following:
in euro million Components of plan assets
United Kingdom Other countries Total
2006 2005 2006 2005 2006 2005
Equity instruments 1,902 1,471 172 141 2,074 1,612
Debt securities 3,323 3,461 106 85 3,429 3,546
Real estate 664 621 54669 625
Other 245 231 15 3260 234
31 December 6,134 5,784 298 233 6,432 6,017
in euro million 31.12.2006 31.12.2005
Total thereof Total thereof
due within due within
one year one year
Obligations for personnel and social expenses 1,493 979 1,355 812
Obligations for on-going operational expenses 3,000 1,135 3,414 1,428
Other obligations 1,043 557 1,137 423
5,536 2,671 5,906 2,663
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