BMW 2008 Annual Report Download - page 98
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99 Group Financial Statements
in euro million 31.12. 2008 31.12. 2007
Interest and currency derivatives 3,449 1,980
Marketable securities and investment funds 653 1,959
Loans to third parties 1 3 28
Credit card receivables 253 260
Other 746 568
Financial assets 5,114 4,795
thereof non-current 1,808 1,173
thereof current 3,306 3,622
25
At the end of the reporting period, impairment allowances
of euro million (: euro million) were recognised
on a group basis on gross receivables from sales financing
totalling euro , million (: euro , million). Im-
pairment allowances of euro million (: euro mil-
lion) were recognised at December on a specific
item basis on gross receivables from sales financing total-
ling euro , million (: euro , million).
Receivables from sales financing which were not overdue
at the end of the reporting period amounted to euro ,
million (: euro , million). No impairment losses
were recognised for these balances.
The estimated fair value of collateral received for receiva-
bles on which impairment losses were recognised totalled
euro , million (: euro , million) at the end of
the reporting period. This collateral related primarily to
vehicles. The carrying amount of assets held as collateral
and taken back as a result of payment default amounted to
euro million (: euro million).
As in the previous year, there were no receivables from
sales financing at the end of the reporting period which
have been renegotiated and which were otherwise over-
due or otherwise required recognition of an impairment
loss.
Financial assets
Financial assets comprise:
in euro million 31.12. 2008 31.12. 2007
Stocks 32 452
Investment funds – 415
Fixed income securities 620 1,082
Sundry marketable securities 1 10
Marketable securities and investment funds 653 1,959
The change in the line item “Interest and currency deriva-
tives” relates primarily to changed exchange rate parities
and the changed interest rate structure.
The decrease in marketable securities and investment
funds was primarily attributable to the transfer of securities
to the newly founded BMW Trust e. V., Munich, in con-
junction with the creation of an external fund for pension
obligations.
Marketable securities and investment funds relate to avail-
able-for-sale financial assets and comprise: