BMW 2007 Annual Report Download - page 101

99
Other investments relate primarily to investments in
non-consolidated subsidiaries and to equity invest-
ments in other entities.
Additions to investments in subsidiaries relate to
share capital increases at BMW Distribution S. A. S.,
Montigny le Bretonneux, BMW India Pvt. Ltd., New
Delhi, BMW Sauber Holding AG, Vaduz, and BMW
Leasing de Argentina S. A., Buenos Aires, as well as
the acquisitions of BMW Lease (Malaysia) Sdn Bhd,
Kuala Lumpur, John Cooper Garages Ltd., Bracknell,
BMW Financial Services Hong Kong Limited, Hong
Kong, and Husqvarna Motorcycles S. r. l., Cassinetta
di Biandronno.
Disposals of investments in subsidiaries relate
primarily to the first-time consolidation of BMW
Financial Ser vices Danmark A/S, Kolding, BMW
Vertriebs GmbH, Salzburg, BMW Renting (Portugal)
Lda., Lisbon, BMW Acquisitions Ltda., São Paulo,
BMW Financeira S. A. Credito, Financiamento e
Investimento, São Paulo, and BMW Financial Services
New Zealand Ltd., Auckland.
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 7,419 million (2006: euro 6,210 million) from
non-cancellable operating leases fall due as follows:
Investments accounted for using the equity
method and other investments
Investments accounted for using the equity method
comprise the Group’s interest in the joint venture
BMW Brilliance Automotive Ltd., Shenyang. At the
end of the previous year, the interest in TRITEC
Motors Ltda., Campo Largo, was also included. The
interest in BMW Brilliance Automotive Ltd., Shen-
yang, (with a 50 % shareholding) was as follows:
Contingent rents of euro 10 million (2006: euro 4 mil-
lion), based principally on the distance driven, were
recognised in income. The agreements have, in part,
extension and purchase options as well as price es-
calation clauses.
Changes in leased products during the year are
shown in the analysis of changes in Group tangible,
intangible and investment assets on pages 96 and
97.
in euro million 31.12. 2007 31.12. 2006
within one year 3,902 3,342
between one and five years 3,516 2,867
later than five years 1 1
7,419 6,210
in euro million 31.12. 2007 31.12. 2006
Disclosures relating to the income statement
Income 627 589
Losses 615 568
Disclosures relating to the balance sheet
Non-current assets 106 122
Current assets 259 286
Equity 80 110
Non-current liabilities 41 34
Current liabilities 244 264
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