BMW 2007 Annual Report Download - page 102
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100 Group Financial Statements
73 Group Financial Statements
73 Income Statements
74 Balance Sheets
76 Cash Flow Statements
78 Group Statement of Changes
in Equity
79 Statement of Income and
Expenses recognised directly
in Equity
80 Notes
80 – Accounting Principles
and Policies
89 – Notes to the Income
Statement
96 – Notes to the Balance Sheet
117 – Other Disclosures
131 – Segment Information
Receivables from sales financing
Receivables from sales financing, totalling euro
34,244 million (2006: euro 30,368 million), comprise
euro 26,181 million (2006: euro 23,038 million) for
Contingent rents recognised as income, generally
relating to the distance driven, amounted to euro
12 million (2006: euro 7 million). Write-downs on
finance leases amounting to euro 52 million (2006:
euro 60 million) were measured and recognised on
the basis of specific credit risks.
loan financing for retail customers and dealers and
euro 8,063 million (2006: euro 7,330 million) for
finance leases. Finance leases are analysed as fol-
lows:
Receivables from sales financing include euro
20,248 million (2006: euro 17,865 million) with a
remaining term of more than one year.
Impairment losses on investments in subsidiaries
relate primarily to BMW Distribution S. A. S., Montigny
le Bretonneux.
In the case of investments in other companies,
the changes in 2007 related to the disposal of
shares in Rolls-Royce plc, London, following the
exercise of the conversion option relating to the ex-
changeable bond issued by the BMW Group on
Rolls-Royce shares.
A break-down of the different classes of other
investments disclosed in the balance sheet and
changes during the year are shown in the analysis
of changes in Group tangible, intangible and invest-
ment assets on pages 96 and 97.
in euro million 31.12. 2007 31.12. 2006
Gross investment in finance leases
due within one year 3,215 3,029
due between one and five years 6,013 5,192
due later than five years 1 6
9,229 8,227
Present value of future minimum lease payments
due within one year 2,886 2,758
due between one and five years 5,176 4,567
due later than five years 1 5
8,063 7,330
Unrealised interest income 1,166 897
[23]
in euro million 31.12. 2007 31.12. 2006
Gross carrying amount 35,036 31,100
Allowance for impairment 792 732
Net carrying amount 34,244 30,368
Allowance for impairment and credit risk