BMW 2008 Annual Report Download - page 97
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98
72 Group Financial Statements
72 Income Statements
74 Balance Sheets
76 Cash Flow Statements
78 Statement of Income and
Expenses recognised
in Equity
79 Notes
79 Accounting Principles
and Policies
88 Notes to the Income
Statement
94
Notes to the Balance Sheet
1 1 5 Other Disclosures
1 2 9 Segment Information
in euro million 31.12. 2008 31.12. 2007
Gross investment in finance leases
due within one year 3,315 3,215
due between one and five years 6,357 6,013
due later than five years 29 1
9,701 9,229
Present value of future minimum lease payments
due within one year 2,932 2,886
due between one and five years 5,634 5,176
due later than five years 27 1
8,593 8,063
Unrealised interest income 1,108 1,166
in euro million 31.12. 2008 31.12. 2007
Gross carrying amount 39,116 35,036
Allowance for impairment 1,053 792
Net carrying amount 38,063 34,244
24
2008 Allowance for impairment recognised on a Total
in euro million specific item basis group basis
Balance at January* 672 125 797
Allocated / reversed 543 10 553
Utilised – 262 –14 – 276
Exchange rate impact and other changes –15 – 6 – 21
Balance at December 938 115 1,053
2007 Allowance for impairment recognised on a Total
in euro million specific item basis group basis
Balance at January* 590 149 739
Allocated / reversed 277 – 3 274
Utilised –184 –17 – 201
Exchange rate impact and other changes –16 – 4 – 20
Balance at December 667 125 792
* including entities consolidated for the first time during the financial year
Receivables from sales financing
Receivables from sales financing, totalling euro , mil-
lion (: euro , million), comprise euro , mil-
lion (: euro , million) for credit financing for retail
customers and dealers and euro , million (: euro
, million) for finance leases. Finance leases are
analysed as follows:
Contingent rents recognised as income (generally relating
to the distance driven) amounted to euro million (:
euro million). Write-downs on finance leases amounting
to euro million (: euro million) were measured and
recognised on the basis of specific credit risks.
Receivables from sales financing include euro , mil-
lion (: euro , million) with a remaining term of
more than one year.
Allowance for impairment and credit risk
Allowances for impairment on receivables from sales financing developed as following during the year under report: